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Audio: 9/11 & Globalist Crash-Con-omics
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Joined: 07 Sep 2006
Posts: 1512
Location: USA

PostPosted: Tue Sep 16, 2008 10:02 am    Post subject: Reply with quote

If from these levels the earnings of American business or the Standard & Poor's 500 grow at 7 percent a year, they'll be twice as high 10 years from now as they are today. They'll be double what they are today. And I think that's not an unreasonable expectation. And that's what creates value in the long run.

well of course, what goes up must come down, so what goes down must come up - but who has the money during the upswing from the bottom?

they basically clear the board so we can start all over again.


just cos things are fucked up doesn't mean it isn't progress...
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Dr. Evil

Joined: 31 Aug 2008
Posts: 83
Location: Deep in the heart of Cheney country.

PostPosted: Tue Sep 16, 2008 1:46 pm    Post subject: Reply with quote

And now, just in time, so that everyone doesn't have to look at this mess... O.J. Simpson is on trial! Boy, now that's more important, isn't it? CNN just interupted their programming to cover the hearings.
“Unthinking respect for authority is the greatest enemy of truth.” - Albert Einstein
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Site Admin

Joined: 18 Jan 2006
Posts: 8693

PostPosted: Tue Sep 16, 2008 7:56 pm    Post subject: Reply with quote

What are these people?

Communists or something?!?

Oh. I just remembered.

They are.

AIG rescue at hand, government to take stake

Tue Sep 16, 2008

By Lilla Zuill and Jonathan Stempel

NEW YORK (Reuters) - An $85 billion government rescue of insurer
American International Group Inc looked increasingly likely on Tuesday
to stave off a bankruptcy that would have thrown world markets back
into turmoil.

The Federal Reserve will extend AIG $85 billion in exchange for a nearly
80 percent stake to bail out the troubled insurance giant, a person briefed
on the matter said.

The deal would avoid the biggest corporate bankruptcy ever and follows a
government bailout of mortgage lenders Freddie Mac and Fannie Mae just
over a week ago......


Who said this?

Sounds like dangerous revolutionary talk to me:

I believe that banking institutions are more dangerous to our liberties
than standing armies. If the American people ever allow private banks to
control the issue of their currency, first by inflation, then by deflation,
the banks and corporations that will grow up around [the banks]
will deprive the people of all property
until their children wake-up
homeless on the continent their fathers conquered. The issuing power
should be taken from the banks and restored to the people,
to whom it properly belongs.

Some guy called Jefferson, I think.

Why are the words

"duplicitous", "blood-sucking" and "leeches"

going through my mind?

Minds are like parachutes.
They only function when open.
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Big Boss

Joined: 04 May 2008
Posts: 829
Location: Outer Heaven

PostPosted: Tue Sep 16, 2008 8:19 pm    Post subject: Reply with quote

Bravo Fintan Smile. I've another legendary quote by another famous politician, C. Lindbergh Sr:

"To cause high prices, all the Federal Reserve Board will do will be to lower the rediscount rate..., producing an expansion of credit and a rising stock market; then when ... business men are adjusted to these conditions, it can check ... prosperity in mid career by arbitrarily raising the rate of interest. It can cause the pendulum of a rising and falling market to swing gently back and forth by slight changes in the discount rate, or cause violent fluctuations by a greater rate variation and in either case it will possess inside information as to financial conditions and advance knowledge of the coming change, either up or down. This is the strangest, most dangerous advantage ever placed in the hands of a special privilege class by any Government that ever existed. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money. They know in advance when to create panics to their advantage, They also know when to stop panic. Inflation and deflation work equally well for them when they control finance."

"The financial system [...] has been turned over to the Federal Reserve Board. That board administers the finance system by authority of [...] a purely profiteering group. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money."

Just un-damned-canny. It is so sad that most americans cannot or will not honestly see the "Fed" for what it clearly and truly is. The dullness simply frustrates the hell out of me.
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PostPosted: Tue Sep 16, 2008 8:39 pm    Post subject: Reply with quote

Yeah, and then these scum use the money they looted
to subvert democracy and to build their own private
corporate intelligence apparatus to kill almost 3,000
of their own fellow citizens on 9/11 in order to
continue and even escalate the looting.

What part of:

"Say hello to the business end of my M-16"

don't they understand?

Minds are like parachutes.
They only function when open.
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PostPosted: Tue Sep 16, 2008 8:50 pm    Post subject: Reply with quote

Fintan wrote:
Yeah, and then these scum use the money they looted
to subvert democracy and to build their own private
corporate intelligence apparatus to kill almost 3,000
of their own fellow citizens on 9/11 in order to
continue and even escalate the looting.

What part of:

"Say hello to the business end of my M-16"

don't they understand?

Sadly these fuckers had/have nothing to loose ... they started out and ended up with other people's hard earned cash ... makes no difference to them if they gained or lost ... just business ... good business ... Twisted Evil

Waste the bastards ... without prejudice!

- Hawk

"Look up here, I'm in heaven. I've got scars that can't be seen. I've got drama, can't be stolen. Everybody knows me now." - David Bowie
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PostPosted: Tue Sep 16, 2008 10:50 pm    Post subject: Reply with quote

WOW! This was one helluva Dow Jones Tomorrow's News Today issue this afternoon.
I would link it except it's by subscription only, so please excuse the length - and if you feel this was too much space, admins, i guess it's up to you to truncate it. i can deal with that.

Tuesday, September 16, 2008

Market Snapshot
DJIA 11059.02 | +141.51
Nasdaq 2202.36 | +22.45
S&P 500 1213.59 | +20.89
10-Year* 3.4869% | -7/32
30-Year* 4.0867% | 6/32
Euro $1.4141 | -0.0168
Nymex Crude $91.15 | -4.55
Source: Dow Jones/Reuters Group PLC *as of 4 PM ET

U.S. stocks traded higher following the latest
step in the American International Group
saga, after falling earlier as the Federal
Reserve held interest rates steady and disappointed
investors by signaling that rate cuts
might not be forthcoming. According to a
report on CNBC, former American
International Group Chief Executive Maurice
"Hank" Greenberg sent a letter to the current
chief executive, saying he would fight for
control of AIG, and possibly a mount a buyout
effort. That turned around the financial
sector, and with it the broad market.

Shorter-term Treasurys fell Tuesday as fears
about embattled American International
Group subsided some and the Federal
Reserve dashed hope for an imminent interest
rate cut. The two-year note was under
the heaviest pressure Tuesday after the Fed
left rates steady at 2% - some had been
expecting a cut of up to 50 basis points
given the recent turmoil in financial markets -
and as risk aversion subsided.

The dollar initially got a big lift against the
euro Tuesday after the Fed surprised markets
by leaving rates unchanged. As stocks
recovered, with AIGís fate hanging in the balance,
the dollar started to lose some of its
edge against the euro. Meanwhile, the dollar
was much higher against the yen Tueday
afternoon, as hopes for an AIG plan reduced
risk aversion. The dollar was at Y105.92 from
Y104.73, according to EBS. The euro was at
Y149.92 from Y150.04. The U.K. pound was
at $1.7869 from $1.7999, and the dollar was
at CHF1.1215 from CHF1.1102 Monday.

Copyright © Dow Jones & Company, Inc. All Rights Reserved.

Tomorrow’s Headlines
Fed Leaves Rates Unchanged; Growth Risks High
The U.S. Federal Reserve on held interest rates steady and, in a disappointment
to Wall Street, didn’t appear to signal that rate cuts are forthcoming
anytime soon.
Officials continued to warn about inflation risks, and they also suggested that
economic concerns have intensified in the wake of the collapse of Lehman
Brothers Holdings Inc. (LEH) and a steep sell-off in equity markets Monday.
“The downside risks to growth and the upside risks to inflation are both of
significant concern to the Committee,” the Fed said in a statement that
largely mirrored its previous one in August.
The Federal Open Market Committee voted unanimously to keep the target
fed-funds rate for interbank lending unchanged at 2% for a third-straight
meeting. The Fed took no action on the discount rate for loans to brokers
and commercial banks, which stands at 2.25%.

AIG Swings Wildly As Talk Mounts Of Bailout
Shares of American International Group Inc. (AIG) swung wildly amid mounting
speculation of federal assistance in a potential bailout of the insurer as
hopes for a private-sector solution appeared to be waning.
The stock lost nearly three-quarters of its value in the opening minutes of
trading as investors fretted that the New York-based company could be
forced to file for bankruptcy if it doesn’t secure about $75 billion in stop-gap
financing by Wednesday.
About 90 minutes later, following a report on CNBC that the possibility of
government involvement in a bailout is now back on the table, the stock
recovered most of the earlier decline and was down just 4%. But AIG shares
couldn’t sustain the momentum, as CNBC also reported that the possibility
of a private-sector financing agreement no longer appeared viable.

Barclays Nears Deal To Buy Lehman U.S. Unit
Barclays PLC (BCS) was close to a deal to acquire a large chunk of Lehman
Brothers Holdings Inc.’s (LEH) U.S. operations for just under $2 billion,
according to people familiar with the situation.
The deal, for now, would allow Barclays, the U.K.’s third-largest bank in
terms of market value, to buy Lehman’s U.S. broker-dealer unit a day afterparent Lehman Brothers Holdings filed for Chapter 11
bankruptcy protection. Barclays had been in talks over the
weekend to buy the entire firm before walking away
because Barclays couldn’t obtain U.S. government support
for Lehman’s $85 billion in souring assets or backing
for Lehman’s balance sheet.
Under the parameters currently being discussed, however,
Barclays potentially could leave behind Lehman’s troubled
assets at the parent level, which is now going through a
bankruptcy proceeding.
The deal could still change or fall apart, according to these

Tomorrow’s Calendar
7:00 a.m. Sep 13 MBA Mortgage Application Survey Refinancing Index
(previous +15.4%)
8:30 a.m. 2Q Current Account, in dollars Overall Balance (expected -181B)
8:30 a.m. Aug Housing Starts, Total Starts (expected 950K), Percent
Change (expected -1.6%), Building Permits (previous 937K),
Percent Change (previous -17.7%)
10:35 a.m. Sep 12 US Energy Dept Oil Inventories Stocks (Net Change),
Crude Oil (expected -3.5M), Gasoline (expected -3.9M), Distillate
(expected -1.8M), Refinery Usage (expected 75.6%)

US CPI Drops 0.1%,
Gives Fed Flexibility

U.S. consumer prices fell last month for the first time in
nearly two years reflecting a rapid drop in oil prices as well
as lower prices for automobiles and housing.
The figures, which included a tame rise in core prices
excluding food and energy, should make it easier for
Federal Reserve officials to address severe strains in financial
markets by cutting interest rates if needed without
having to worry about an inflationary outbreak.
Officials meet and many economists think that with annual
inflation rates still quite elevated, officials will stand pat and
wait for more information on the economy and markets,
although a rate reduction is a possibility.
The consumer price index fell 0.1% in August, the Labor
Department said, reversing a fraction of the previous
month’s 0.8% rise. Excluding food and energy, the CPI
advanced 0.2%. The figures were in line with Wall Street
forecasts, according to a Dow Jones Newswires survey.

Oil Extends Loss After Fed Holds Rates
Losses in crude oil futures continued after the Federal
Reserve’s monetary policy committee unanimously chose
to leave its benchmark interest rate unchanged.
Light, sweet crude for October delivery was recently down
$4.12, or 4.3%, at $91.59 a barrel on the New York
Mercantile Exchange, extending losses brought on earlier
in the day by the recent turmoil among Wall Street firms.
Brent crude on the ICE Futures exchange fell $4.44 to
$89.80 a barrel.
Citing both “downside risks to growth and the upside risks
to inflation,” the Fed left the target federal funds rate
unchanged at 2% for a third-straight meeting.
“This leaves the dollar stronger and there’s less impetus for
crude oil to rally,” said Mark Waggoner, president of Excel
Futures in Huntington Beach, Calif. The dollar surged
against the euro after the rate decision.

US Home Builders Confidence Climbs
The confidence of U.S. home builders climbed in
September, the first increase in seven months.
The National Association of Home Builders released results
of a monthly survey of builders’ thoughts on market
prospects. Its latest, September index for sales of new,
single-family homes rose to 18 from 16 in August.
The increase was the first since February 2008 and it carried
the index off its record low.
Expectations for sales in the next six months surged, rising
to 30 from 24 in August, the NAHB said.
Within the NAHB’s housing market index, the component
for present sales of single-family homes was 17, up from
16 in August. It measures current sales conditions.

Goldman Net Slides
On Slowing Activity

Goldman Sachs Group Inc. posted a 70% drop in fiscal
third-quarter net income on declining client activity and
trading revenue, investment- banking losses and a slowing
global economy.
For the quarter ended Aug. 29, Goldman reported net
income of $845 million, or $1.81 a share, down from $2.85
billion, or $6.13 a share, a year earlier. Net revenue fell
51% to $6.04 billion.
Goldman Sachs is vigilant of the risks in the market, and
ongoing issues in the mortgage and credit markets that are
affecting all financial institutions. As one way to measure
risks Goldman “takes a discipline approach to marking our
assets to market,” Chief Financial Officer David Viniar said
during Goldman’s third-quarter earnings conference call.
Assets are marked “not where we think we can trade
them, but where we did and where they are trading in the
market,” he said.
The market has been affected by the fall of Lehman
Brothers Holdings Inc. (LEH), which filed for bankruptcy
late Sunday, as it caused certain assets to decline in price.
Goldman’s average daily value-at-risk, or VaR, in the third
quarter was 181 million compared with 184 million for the
second quarter. This compares with a large increase in VaR
from 139 million a year ago to date. VaR is a measure used
by banks to track portfolio risk.

Goldman CFO Dismisses Merger Talk
Goldman Sachs Group’s (GS) Chief Financial Officer David
Viniar appeared to strongly rebuff the market’s growing
sentiment that the fabled Wall Street firm should find a traditional
bank with whom it can merge.
“Most assets we have couldn’t be funded by deposits” at
a traditional bank, Viniar said on a conference call with
analysts to discuss Goldman’s third-quarter earnings.
In the last six months, two struggling Wall Street investment banks have been acquired by large commercial
banks - including yesterday’s purchase of Merrill Lynch &
Co. (MER) by Bank of America Corp. (BAC) - and a chorus
of analysts and investors have speculated that Goldman
will enter a similar merger.
Traditional banks typically enjoy more stable businesses,
as well as the ability to borrow money inexpensively from
depositors. As a result, these commercial banks have
become natural merger partners for struggling investment
banks, whose businesses are typically more volatile in
nature, and much more vulnerable to negative market sentiment
as well as the need to borrow capital at expensive

Deal Could Be Hurdle
To Barclays’ ETF

Barclays PLC’s (BCS) proposed acquisition of part of
Lehman Brothers Holdings Inc. (LEH) may be good strategy,
but it could provide a headache for Barclays’ popular
iShares ETF business, exchange-traded fund lawyers say.
A day after Lehman filed for bankruptcy, U.K.-based
Barclays was close to reaching a deal to purchase
Lehman’s U.S. broker dealer, which includes its well-known
fixed-income indexing business, for close to $2 billion.
That could pose problems for more than a dozen Barclays
iShares ETFs that track popular Lehman indexes, such as
the $9.8 billion iShares Lehman Aggregate Bond Fund, or
AGG, which follows the Lehman Brothers U.S. Aggregate
That’s because the Securities and Exchange Commission
has long prohibited firms from basing ETFs on benchmarks
they also own.

Analyst Sees More Bank Write-Downs
Banks may be drastically underestimating the scope of
housing-price declines, a prominent banking analyst said,
putting them at risk of more major write-downs after their
optimistic expectations collide with reality.
“Unrealistic [housing price] assumptions will in our opinion
lead to a material and protracted write-down and capital
pressure scenario for banks well into 2009,” Oppenheimer
& Co. analysts led by Meredith Whitney said in a research
Whitney has gained a reputation for
accurately predicting write-downs at
major commercial and investment
banks. Her most famous call came in
November last year when she issued a
scathing report on Citigroup Inc.’s (C)
exposure to risky mortgage assets,
accurately predicting it would need to
cut its dividend to preserve capital.

Fitch Downgrades Mortgage
Lender HBOS

Fitch Ratings downgraded U.K. mortgage lender HBOS
(HBOOY) to AA from AA+ and said the outlook for the
company “remains negative”.
“The downgrade reflects heightened concerns over the
outlook for core parts of HBOS’s retail banking and corporate
banking divisions as the UK economy and property
markets weaken,” Fitch said in a statement.
Adding that this was combined with “weaker operational
flexibility due to continuing disruption and dysfunction in
parts of wholesale funding markets on which HBOS relies
quite heavily to finance its customer lending.”

Credit Suisse To Buy Back
ARS From Individuals

Credit Suisse Group (CS) will buy back an estimated $550
million in auction-rate securities in an agreement with state
regulators probing how the complex securities were marketed.
The Swiss banking giant will repurchase by Dec. 11 all illiquid
auction-rate securities at par value that had been purchased
by individuals, charities and small businesses with
$10 million or less in their accounts prior to Feb. 14,
according to New York Attorney General Andrew Cuomo’s
office. The securities had to be purchased through Credit
Credit Suisse also will pay a $15 million civil penalty to
New York and other members of the North American
Securities Administrators Association. The company said
in a statement that it was not admitting to or denying any
claims made in the matter.

Regulator Names Fannie, Freddie

The regulator for Fannie Mae and Freddie Mac tapped two
former corporate chiefs to serve as the non-executive
chairmen of the boards for the firms, which it seized on
Sept. 7.
Philip A. Laskaway was appointed non-executive chairman
of Fannie, while John A. Koskinen was named non-executive
chairman of Freddie, the Federal Housing Finance
Agency said in a press release.

Tough To Find $75B To Support AIG
The government is reportedly urging JP Morgan (JPM) and Goldman Sachs
(GS) to lead an up to $75 billion fund-raising effort for American International
Group (AIG), yet it’s highly unlikely they could find that kind of money in the
open market.
Not to mention they don’t have long to raise it. New York Gov. David Paterson,
who crafted a plan that would allow the insurer to borrow $20 billion from itself
this week, told CNBC that AIG has just “a day” to come up with the much
needed cash infusion.
Traditional sources of financing like the already deteriorated corporate debt
markets don’t look healthy enough to shoulder such a massive amount of new
debt. AIG, even prior to the latest credit downgrades, has already been forced
to pay junk-like yields for new bonds, meaning any new facility is going to come
at a serious cost to the beleaguered insurer.
JP Morgan and Goldman, with other banks, though, could syndicate a credit
facility and then turn around and issue bonds, commercial paper, or use the
Fed’s discount window should AIG use the facility, Ira Jersey, an interest rate
strategist at Credit Suisse, theorized.
“Even with these options, it will be a difficult task,” he said. JP Morgan and
Goldman would not comment on plans to help support AIG.
Meetings at the Federal Reserve Bank of New York over AIG’s fate are ongoing,
said a bank spokesman, but he declined to comment on reports Tuesday that a
government bailout for the firm is in the works.
Thus far, the U.S. government has discouraged AIG from expecting a loan and
said it should seek private funds. This comes within weeks of the Bush
Administration bailing out mortgage giants Fannie Mae (FNM) and Freddie Mac
(FRE) and the same week it did not intervene to prevent investment bank
Lehman Brothers Holdings (LEH) from filing for bankruptcy.
The markets for both junk and investment-grade debt are in visibly bad shape,
with risk premiums on the rise ever since Lehman filed for bankruptcy, Merrill
Lynch (MER) agreed to be bought out by Bank of America (BAC), and now this.

Transparency, Not Regs, Key To Reform
Asset-backed securities, derivatives and swaps of all stripes become more hazardous
as markets fall, spring loading risks investors thought they understood.
That’s one stunning truth to emerge from the rapid-fire events that a week ago
saw the federal government step in to rescue Fannie Mae (FNM) and Freddie
Mac (FRE), then push Merrill Lynch & Co. (MER) into the arms of Bank of
America Corp. (BAC) and stand by as Lehman Brothers Holdings Inc. (LEH)
tumbled into bankruptcy.
The speedy demise of so large and so many institutions has exposed a system
of regulations suited to manage the flow of capital not the flow of risk. And
while regulators, academics and politicians are focused on banking reforms,
others are warning that the menace in this situation lies outside the traditional
banking system the laws intend to govern.
The sustained decline in the housing market “is the spark that has set off this
forest fire,” says Andrew Lo, professor of finance at the MIT Sloan School of
Management. “But it is not the reason the forest is dry and ready to go up in
What turned the financial system to tinder was a decade-long drive for highyield
investments, says Lo, who as director of the MIT Laboratory for Financial
Engineering has played a role developing pricing models for options and
derivatives and developing risk management practices
used by hedge funds and others.
Mortgages were an ideal source of high-yield investing
because the underlying assets were stable and diverse.
Although foreclosures were common, they were not correlated,
says Lo, by which he means if a mortgage falls into
foreclosure in California, there is no reason a similar mortgage
would fail in Vermont.
Slicing pools of mortgages into levels of risk created stable,
modest returns for those first in line for repayment,
and riskier and higher returns for those last in line.
“But if it turns out that all of these mortgages default at the
same time, it doesn’t matter if you are first in line or not,
you are all going to be wiped out,” says Lo.
Devising steps to prevent a similar conflagration in the
future has become the focus of lawmakers who want to
clamp down on the most explosive risks. There also is talk
of restoring some limits on home lending.

Dollar Volatile As Traders Escape
U.S. equities are dropping, a Wall Street banking giant is
bankrupt, market watchers are at the edge of their seats,
but the dollar is standing strong.
Volatile markets and the rush to liquidity have upended
most speculative market positioning, and left the dollar
jumping inside relatively tight ranges against its major
Participants are on the sidelines, not only because of the
shaky markets, but due to the “dwindling number” of
counterparties available, said Chris Turner, head of foreign
exchange strategy at ING Financial Markets in London.
“Financial market volatility has risen substantially. Nowhere
is that clearer than in foreign exchange markets, where
one-week euro [versus dollar] implied volatility was quoted
on Monday above 18% — higher than the volatility seen
during sustained Group of Seven and European Central
Bank foreign exchange intervention to buy (euros versus
the dollar) in 2000,” he said.
Reports that American International Group Inc. (AIG) may
receive public funding boosted the buck Tuesday morning
to an intraday high against the euro. But the euro fell to
$1.4107, within the pair’s one-week range.
Even against the lower-yielding yen — a funding currency
considered a safe bet in times of uncertainty and the winning
asset in foreign exchange markets over the last few
weeks — the dollar hasn’t dramatically changed since
Monday, when the current crisis boiled over with Lehman
Brothers Holdings Inc. (LEH) filing for bankruptcy protection
and AIG’s capital issues emerging.

i used to work with this outfit in the 90's and they usually just tell it, cut and dry. i don't think they "like" anyone enough to give a shit about a spin. not sure if the WSJ still owns them. they went from Telerate to Dow Jones Markets (WSJ) to Bridge Telerate (Knight-Bridge) and now I see it says Dow Jones/Reuters Groups (who were another rival). They just sit in a room with data and news feed. their blood consists of coffee.


just cos things are fucked up doesn't mean it isn't progress...
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PostPosted: Wed Sep 17, 2008 1:17 am    Post subject: Reply with quote

Watch this:

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PostPosted: Wed Sep 17, 2008 5:13 am    Post subject: Reply with quote

RedMahna wrote:
Had all these people taken their (dubiously) 'hard-earned' cash and provided local help, jobs, and community support structures and services, they'd now live in prosperous, debt-free neighbourhoods, safe from the flakey schemes of conmen and murderers.

well, i agree in the philosophy and the consequential element of doing it this way or that way... it seems logical.

alas, even down to the community, the bastards of greed live.

here in the south i see it more so than in the so-called cold & rude north (what the southerners deem liberal country). as i am a non-church participant and a non-holy-rolling jesus' name-spewing neighbor in my neck of the woods, i can feel guaranteed not to ever expect any sort of cooperation from my fellow humans so long as they are holier than moi.

let me just say something i never intended to ever say, lest one of these individuals find my cute little liberal posting (or more like commie posting to them), i have walked the walk of their crucified deity - and continue to do so - expecting different results... nay, i have come to humble myself to the acceptance that i will meet a similar fate, if not physically, than most definitely emotionally. it is NOT ABOUT BROTHERHOOD OF MAN.

oh, it is about "brotherhood" of one thing or another, but certainly not that of humanity itself, thank you very much. i'm afraid we'll end up all one color and religion and still find something or someone to blame for our bad hair day.

back to reality (and hey, LonePunman, i do intend to keep trying)...

Greetings RedMahna, and let me say I appreciate your sentiments here.


and the stock market:

it is gambling. it is legal. it is devious. it was designed to seem like participation in the growth of good society-enriching corporate organizations. it however is legally in the accounting world designed as part and parcel of optional financial recovery/ restructuring to avoid a meltdown of capital for a non-trading company. this is not a quote. those are my words. you can research how to do a statement of financial standing for personal or business use in approaching banks to legitamize oneself for borrowing capital - one of the means to show intent and responsibility is to propose an IPO process.

in other words - i should like to use your money for my venture and pay my bills with it, if need be. i may even reward you. of course, it is not a guarantee how well or if i can reward you, but the more of you chip in, the blue-er we'll be. care to join me?


Well, I don't know how that will work.
I like you am utterly without any financial resources.
What I have to offer is talent:
dozens of trades and skills, and massive experience in the sciences and technologies.

I am also looking for an investor, to build a factory/manufacturing site for audio high fidelity tube amplifiers. There is still a niche market of doctors, lawyers, and other professionals with way too much disposable income and no concept of how to spend it.

I would charge them a good price for these precious amplifiers, which produce absolutely the best musical purity that money can buy.

With the profits I would employ local people here, creating real jobs and industry that sadly, has previously left the country(ies, i.e. North America).

I would start small, employing a few dozen people, and expanding with responsible healthcare/dental support to families, and adding profit-sharing, employee-owned shares, and a policy of reinvesting back into the local community to provide food and housing to the poor, improving recreational and educational opportunities etc.

I'm looking for real investors, and will even forgive greedy crooks and launder their ill-gotten drug/death money in exchange for a chance to really impact my community in a positive way, giving employment and hope to a whole new generation of kids, who should have a bright future.

As St. Paul says, "charity covers a multitude of sins". Or was that St. James?
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PostPosted: Wed Sep 17, 2008 11:10 am    Post subject: Reply with quote


After AIG rescue, Fed may find more at its door

Reuters Wed Sep 17, 2008 - By Emily Kaiser - Analysis

WASHINGTON (Reuters) - In one $85 billion fell swoop, the U.S. Federal
Reserve may have wiped out what credibility it won resisting Lehman
Brothers' rescue plea and opened its door to countless other companies
to come calling for cash.

By providing a massive loan to American International Group on Tuesday,
just two days after refusing to use public funds to save Lehman Brothers
from bankruptcy, the central bank also invited tough questions on how
exactly it determined whether a company was too big to fail.

Between the $29 billion the Fed pledged to swing the Bear Stearns sale to
JPMorgan in March, $100 billion apiece to rescue mortgage finance firms
Fannie Mae and Freddie Mac, up to $300 billion for the Federal Housing
Authority, Tuesday's $85 billion loan to insurer AIG and various other
rescue deals and loans, taxpayers are potentially on the hook for more
than $900 billion.

"They pretended they were drawing a line in the sand with Lehman
Brothers but now two days later they're doing another bailout," said
Nouriel Roubini, a professor at New York University's Stern School of

"We're essentially continuing a system where profits are privatized
and...losses socialized
," Roubini said, adding that auto makers, airlines
and other struggling businesses would no doubt be asking for government
help too.


US Treasury raises Fed funding after AIG rescue

The US Treasury is to create a new supplementary financing program to
supply the Federal Reserve with money to rescue financial institutions and
supply emergency liquidity to the markets.

The move was prompted by fears that the US central bank’s balance sheet
was overstretched following its emergency $85 billion rescue of insurance
company American International Group.

The Treasury said today it is selling $40 billion of cash management bills -
essentially a fresh batch of debt - at the US central bank's request as part
of what a Treasury official called an attempt to "help them better manage
their balance sheet."

Auction results from these sales are expected later this afternoon.....


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PostPosted: Wed Sep 17, 2008 12:24 pm    Post subject: Reply with quote

Oh Shit.....

Money-market fund dips below safety benchmark

BOSTON: The assets of a money-market fund that held $62 billion three
months ago have fallen below a safety benchmark intended to ensure
investors who put money in can get it all back. It is just the second
unsettling instance in which a fund has exposed investors to potential
losses in the nearly four-decade history of money-market funds.

Reserve Management Co.'s announcement that its Reserve Primary Fund
had "broken the buck" after its assets fell sharply because of soured
investments in Lehman Brothers Holdings Inc. marked the first such
investor exposure to money-market losses since 1994.

New York-based Reserve said the value of $785 million in debt securities
issued by Lehman and held by the Primary Fund were written down to
zero as of Tuesday afternoon — a consequence of Lehman's collapse and
bankruptcy after the federal government failed to bail out the investment
bank over the weekend.

Money-market funds normally maintain assets of at least $1 for every
dollar invested in funds, and are supposed to return interest to investors
in the form of dividends.

Money funds are normally seen as among the safest investments
after cash and bank deposits because they're required under federal
regulations to invest only in low-risk securities. However, they lack the
federal deposit insurance
that other safe investments such as bank
accounts offer. Consequently, money funds typically offer smaller returns
than investments such as stocks, though they have become increasingly
popular amid recent market turmoil, and enable investors to easily put
money in and take it out when needed.


GM, UBS Short-Term Debt Costs Soar as Money Fund Breaks Buck

By Bryan Keogh

Sept. 17 (Bloomberg) -- Short-term debt costs for General Motors Corp., UBS AG and Sears Holdings Corp. soared as the oldest U.S. money-market fund saddled investors with losses, sapping confidence in assets once considered among the safest.

General Motors, the largest U.S. automaker, is willing to pay the most to borrow seven-day commercial paper since Dec. 31, 2007. The short-term debt rate for Zurich-based UBS jumped to the highest since March 4. Sears, the biggest U.S. department-store company, is offering to pay the most in six months for 30-day paper.

The Reserve Primary Fund suspended redemptions and its net asset value fell below $1 a share, eroding confidence in money- market funds, which invest in commercial paper. That could drive up financing costs for companies, said Ajay Rajadhyaksha, head of fixed income strategy at Barclays Capital Inc. in New York. Companies rely on access to the commercial paper market to finance day-to-day expenses such as payroll and rent.

"That unfortunately can spiral in the sense that it makes it more difficult for all companies to raise short-term money,'' Rajadhyaksha said.

Widespread withdrawals from money-market funds would aggravate the global credit crunch because they are major buyers of short-term debt issued by corporations and financial companies. Average yields on top-rated seven-day commercial paper jumped 0.56 percentage points today to 3 percent, the highest since March 6, Bloomberg data show.

GM Rates

General Motors today posted a rate of 5.25 percent for seven-day commercial paper, 1.25 percentage points more than yesterday. General Motors and other direct issuers of commercial post rates of how much they're willing to pay to issue the debt.

UBS, Switzerland's biggest bank, is offering a rate of 3 percent on the seven-day paper, up 1 percentage point, Bloomberg data show. Hoffman Estates, Illinois-based Sears is offering 3.63 percent, or 0.33 percentage point more than yesterday, to issue 30-day commercial paper.

Reserve Primary Fund became the first money-market fund in 14 years to expose investors to losses after writing off $785 million of debt issued by bankrupt Lehman Brothers Holdings Inc. Shareholders pulled more than 60 percent of the fund's $64.8 billion in assets in the two days since Lehman Brothers Holdings folded.

Losses on the securities firm's debt forced the fund to break the buck, meaning its net asset value fell below the $1 a share price paid by investors, New York-based Reserve Management Corp., its closely held owner, said yesterday in a statement. Redemptions were suspended for as long as seven days......


Signs Of The Apocalypse:
Even Money Market Funds Are Losing Money

In the history of money market funds, says the NYT, only one had ever "broken the buck" or actually lost money... before yesterday. On Tuesday, the managers of a multi-billion dollar money market fund announced that their customers might lose money in the fund— a type of investment that is considered as safe as a savings account.

From the NYT:

The announcement was made by the Primary Fund, which had almost $65 billion in assets at the end of May. It is part of the Reserve Fund, a group whose founder helped invent the money market fund more than 30 years ago.

The fund said that because the value of some investments had fallen, customers now have only 97 cents for each dollar they had invested.

This is only the second time in history that a money market fund has “broken the buck” — that is, reported a share’s value was less than a dollar.

How could this happen? The NYT says that in this year alone banks have poured billions of dollars into shoring up money market funds that were caught holding questionable mortgage backed securities — leading millions of investors to pull their money out of other investments and place it into money market funds.

The trouble came when The Primary Fund realized that its stake in now-bankrupt Lehman Brothers was essentially worthless, causing the fund's value to drop to 97 cents per share. For now, the fund will rely its right to delay redemption for seven days:

But, as prospectuses and regulators make clear, money funds are not legally required to keep their share prices at or above a dollar, or to redeem investors’ shares immediately. Like all regulated mutual funds, their share prices are determined solely by dividing total portfolio assets by the number of shares outstanding, and they have seven days to meet redemption demands.

Those facts would probably surprise most money fund investors, who have come to think of money funds as being “just like cash, just like a checking account,” a fund industry lawyer, Jay Baris, said.


Gold climbs nearly 7 pct on safe haven buying

LONDON (17 Sept) Gold rallied nearly 7 percent on Wednesday to a two-
and-a-half-week high of $830.10 an ounce, as a wave of risk aversion
triggered buying of the precious metal as a safe haven and oil prices

Traders say losses among investment banking stocks and doubts about
the government's rescue of insurer American International Group have
sparked a flight to safety.

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PostPosted: Wed Sep 17, 2008 2:35 pm    Post subject: Reply with quote

good reporting as usual

one note on front page video

Peter Schiff & Steven Keen on Dateline(Australia) - Part 1 of 2

Mr. Schiff seems to want to blame the government for interfering with the "free market" !!!! the problem is the government colluding with those who run the racket, er, i mean market. the solution then is for all those "free marketeers" just to say no to government help. Smile

he said one of the problems is that americans borrowed money for consumption instead of using it to build factories. he seems to have forgotten we had factories here and it was the "free market" that packed them up and shipped them overseas. and that the consumption is driven by the relentless marketing by those "free market " corporations to maximize profits.

he also said nobody in america is losing their homes, just equity in them.

the solution according to him, was the people are going to have to suffer
(the the rich get richer). economists should be the first to "walk the plank"

real positive change will only come when capitalism goes

a good book by Susan Rosenthal: Power and Powerlessness

Birth is the first example of " thinking outside the box"
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