With some insignificant changes that will mean a lot to our Representatives. Why 2-1 you might ask? [more]
Congratulations to the activist investors! With the votes cast there is only the posturing left, until some form of bailout returns.
In the meantime I would like to offer hope for the future. One of the places I like to visit to stay upbeat is a website called World of Renewables where the future is springing up brighter every day.
The largest part of bankings (not my) current problems is due to Alt-A (liar) loans. Basically an Alt-A loan is a loan category banks use when they want to believe that an applicant has income that the applicant does not show on their tax returns. If you have income that is not on your tax returns, you are a tax cheat. Drug Dealers, for example may have income they do not want to show on their tax returns. There is no reason I can think of that the United States Gov't (me?) should bail out banks who got in trouble for doing business with Tax Cheats. One might know that Tax Cheats are not a good risk, with them being Tax Cheats and all. [more]
That is what changed when a friends company rolled over their credit line with citi today. When my friend expressed his dismay, the citi rep said it could be higher, but you are a good company. The citi rep did not say there was no money.
Which begs the question:
If we recapitalize the banks with 700 bil, at what percentage (bank tax) are they going to capitalize our business's?
They want to know what you think.
or denying you your right to vote. Any way you want to look at it. Toward the bottom of the article is a website where you can check your own voter registration and a "toolkit" to help check the integrity of elections where you live. [more]
The Us Gov't can prop up pensions directly if it wishes, rather than through bailing out banks. It can also do business lending directly like it did with automakers.
Mr. Cooper has no investments, owns just one home, and, in the vernacular of his peculiar little Maine village, "doesn't give a rat's ass" how many millionaires and billionaires and CEOs and traders suffer for their stupidity and greed and malfeasance. Readers wishing to try to correct his fallacious thinking may send advice and counsel to firstname.lastname@example.org. [more]
Sign the petition here [more]
This is your chance to explain to me how making more money available to lenders is the solution to problems caused by lending.
Good F'ck'n luck.
Oh and if this goes through, insist on getting 10% perpetually preferred shares and warrants to buy more at a 15% discount. Or better.
Celebrate their demise, before things get worse. [more]
I'm sure some of this is not wasteful spending too. [more]
As some of you may have noticed I am actually inclined to call my Congresscritters from time to time in order to offer guidance. For instance I posted about nuclear power and not guaranteeing loans for nuclear power or insuring against disaster. I called and expressed myself and many others did also and the insurance for loans has been removed from the renewable energy bill. [more]
Imagine if AIG and Fannie and Freddie had failed. Imagine if Lehman and and countless banks go under. Imagine all those jobs lost. All that money no longer earned. All those shares of stock without value and all that money gone out of circulation. With all those dollars gone imagine how much more Grandma's dollars would be worth. The ones she gets every month from the US Gov't in the form of a Social Security check. The ones she saved away every year from 1958 until 2003. With all those other dollars gone, hers would have been worth a whole lot more. And she is a kindly heart. She would have paid Hank Paulson to rake her leaves if he needed some extra money. As long as he does an honest job, of course. [more]
Not the Government. The banking system. [more]
For losing almost 200 points as you leapfrogged backwards into first place.
highly biased words removed.
This should only add to the already unaffordable cost of nuclear power. [more]
The Bush appointed heads of EPA and FDA failing like Brownie, Cheney and Paulson will be. [more]
Donnernv wrote this post promoting nuclear power as an answer to the USA energy problems. [more]
After you read the story, you have to read the comments. They speak for themselves.
Ginnie Mae securities are the only MBS to carry the full faith and credit guaranty of the United States government, which means that even in difficult times an investment in Ginnie Mae MBS is one of the safest an investor can make. [more]
I hi-lited the bold/italics. This is the fact sheet associated with this speech. Please note this bill was passed one year later, under the time period of a Republican President, Republican House, and Republican Senate. At the time, I was arguing there was no threat from Iraq. I have heard it argued all day today that it is a good sign that Gov't is getting involved. Not if it is this Gov't. [more]
when I wrote this post titled 'The Final Fleecing, Then Goodbye'. This one is a disaster. Banks are allowed to lend $10. for every $1. they have on the balance sheet. Giving $200 billion dollars to Freddie and Fannie, in order to continue buying bad debt from the banks is the same as giving the banks 2 trillion dollars to lend. Frankly, I would rather give it to crackheads. Especially this guy who understands that "shelter" is a synonym for the financial industry. [more]
I know you folks are all excited about banks and money and stuff. But do any of you live in New Jersey? [more]
I logged on to my favorite investing website (CAPS) today and saw this post by wcaseym taking the news media to task. I also had read and responded and tried to correct what I believe were some mistakes in this post by kpscott. I skipped over to my favorite collection of undereported news stories and stumbled onto this story which might explain why kpscott believes what he does. Out of 267 stories about off-shore drilling, only one cited the data from the Energy Information Agency that off shore oil will not only, not lower prices today, but only have a negligable affect on future oil prices. [more]
Demand destruction is a condition that basically means there is lots of oil, that noone wants. CNBC is reporting that demand destruction is behind this months lowering of crude oil prices. Demonstrating his business acumen, Bush appointee Samuel Bodman, who topped up the SPR tank by 3mil barrels between May and July at prices significantly higher than todays has decided, "Citgo will be allowed to pull 250,000 barrels of oil from the Strategic Petroleum Reserve because of its inability to secure crude in the aftermath of Hurricane Gustav". This action was chosen over checking Citgo's phone book to make sure they had the most up to date numbers for Total, BP and XOM who, as the law of supply and demand destruction suggests, should have excess barrels of oil noone wants floating aimlessly around the Atlantic. [more]
Thank The Flying Spaghetti Monster and praise His Sauce and Meatballs. His presence is revealed as he reaches out his Noodily Appendage. Let noone doubt the FSM or that lordz is touched as he speaks out to defend the Pirates Feathered Companion thusly and in bold: [more]
Once again, Lordz and I are in agreement! Once again the great creator of this world, The Flying Spaghetti Monster, has seen fit to extend his Noodly Appendage to create harmony and unity between myself and lordz! Speak with Aaarghhs and awe in your voice at his Noodly greatness. [more]
In a post by Hondo 928, where he poses the question "Are all Obama Supporters this Stupid" right in the title, which caused me to investigate just how stupid Obama supporters are, I learned that Hondo describes Obama supporters as "Liberal", "well educated", "smart", "plentiful" and apparently quite "romantic". [more]