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Riding the line of Fande/Cande to get the point across

November 30, 2010 Leave a comment

Thanks for the laugh, David Weidner. : )

http://finance.yahoo.com/banking-budgeting/article/111443/10-questions-we-should-be-asking-the-banks?mod=bb-budgeting&sec=topStories&pos=5&asset=&ccode=

10 Questions We Should Be Asking the Banks

by David Weidner
Tuesday, November 30, 2010

EXCERPT:

8) In the event that your bank suffers trading losses that result in the bank reporting a loss for the quarter, what is your response?

a) Apologize, institute risk limits and shrink compensation pools to adjust for investor losses.

b) Stuff happens.

c) Award the trading team a bonus to keep them from fleeing to a hedge fund.

d) Award yourself a bonus.

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David Weidner covers Wall Street for MarketWatch.

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George W. Bush = “shamelessly marketing”

November 30, 2010 Leave a comment

George W. Bush personifies that dangerous combination of arrogance and ignorance. He led us into the Iraq War and sunk our economy during his 8 years in the White House. And then the man who let Osama bin Laden escape, who spent $1 Trillion making war in the wrong country, and who did not do a damn thing to regulate the Subprime-Mortgage Meltdown via Wall Street selling home loans as stocks…this man wrote a book about his decision-making process for the benefit of somebody else to read. Mind-numbing, the kind of arrogance and ignorance George W. Bush exudes.

* And don’t go trying to blame the financial mess on Barney Frank. George W. Bush’s Securities and Exchange Commission allowed “self-regulation” (meaning no regulation) by the Wall Street banks concerning the buying and selling of Subprime-Mortgage-backed Securities, which were sold all over the world. George W. Bush and the Republicans had a stranglehold on all 3 branches of our government from 2001-2006. The Republicans rammed Tax Cuts, the Iraq War and Medicare Drug Benefits through Congress without paying for any of it. Yeah, all true. Halliburton, the defense contracting company where Dick Cheney was CEO, especially liked the no-bid contracts worth billions of dollars during the Iraq War. The Conservative Calamity of the 2000s happened with the help of a Christian voting base feeding the greed and mismanagement that would ultimately lead to the worst economic downturn since the Great Depression.
Remember, the heyday of Subprime was 2004-2007. We, the People, voted in a Democratic-majority Congress in 2006, but they took office in January 2007. By then all of the financial mechanisms had been set in motion for the economic implosion just around the corner. The first foreboding shoe dropped in October 2007, when the Dow Jones Industrial Average started dropping from its high of 14,000. It eventually dropped below 9,000 after the Democratic-majority Congress rejected the $700 billion bailout of the Wall Street banks handed to them by Hank Paulson, Bush’s Treasury Secretary and Goldman Sachs CEO until 2006. The US stock market dropped 777 points that day, the biggest single day loss ever. Then the Democratic-majority Congress voted to approve the bailout of the US banks that caused the Subprime-Mortgage Meltdown. But the banks were supposed to L-E-N-D! The banks were supposed to take that money and grease the wheels of commercial paper with it, so that small businesses still had access to short-term loans in order to cover payroll expenses. But the Wall Street banks double-crossed the American Taxpayers…instead of lending the money, Wall Street paid bigger bonuses than the year before.
source: http://finance.yahoo.com/echarts?s=^DJI+Interactive#chart1:symbol=^dji;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined


Republican mismanagement of our economy caused the Great Recession. Bush even kept the expenses of our war in Iraq “off the books.” One of the first things President Obama did was to claim the true cost of the Iraq War as a part of our country’s budget. This added considerably to our national deficit, but for once in a long time we had a President being honest with us.

As Jonathan Franzen writes in his new fiction book, Freedom, the Bush years were about “high-tech lying and manipulation,” according to the character, Walter Berglund.

* page 313 of Freedom, published in 2010 by Farrar, Straus and Giroux, New York, NY


EXCERPTS:
“The truth of the matter is, I am shamelessly marketing,” the former president [George W. Bush] said when asked why he chose to appear on Facebook. “You got a lot of people paying attention to us, and I’m trying to sell books….
“It just comes with the territory. When you’re president, or when you’re a successful CEO, you get criticized,” he said. “The fundamental question is how you deal with it. And if you believe in what you’re doing, then the criticism means nothing.”

Catalan Control

November 30, 2010 Leave a comment

Barça win with total control of the ball: 5-0 over Madrid.

When sport transcends to the point of Art, it is called the Beautiful Game. © 2010

Categories: Literature & Art Tags: ,

El Clásico es hoy al mediodía

November 29, 2010 Leave a comment

When sport transcends to the point of Art, it is called the Beautiful Game. © 2010

Categories: Literature & Art Tags: ,

The Beatles still top the music charts in 2010

November 29, 2010 Leave a comment

* That’s Billy Preston on the keys for “Don’t Let Me Down.” Sick! Awesome musically, and the best afro ever. ?uestlove wishes he could get the bounce out his locks that Billy does. ; )

sources:

Beatles Sell 2 Million Songs in First Week on iTunes

In U.S. the best-selling album was “Abbey Road” and best-selling song was “Here Comes the Sun.”

http://www.billboard.com/news/beatles-sells-2-million-songs-in-first-week-1004130480.story#/news/beatles-sells-2-million-songs-in-first-week-1004130480.story

http://www.doipod.com/itunes-chart/top-100-itunes-songs-usa.html


WikiLeaks, Wow!

November 28, 2010 Leave a comment

Cables Obtained by WikiLeaks Shine Light Into Secret Diplomatic Channels

http://www.nytimes.com/2010/11/29/world/29cables.html?pagewanted=4&hp

EXCERPT:

In a 2006 account, a wide-eyed American diplomat describes the lavish wedding of a well-connected couple in Dagestan, in Russia’s Caucasus, where one guest is the strongman who runs the war-ravaged Russian republic of Chechnya, Ramzan Kadyrov.

The diplomat tells of drunken guests throwing $100 bills at child dancers, and nighttime water-scooter jaunts on the Caspian Sea.

“The dancers probably picked upwards of USD 5000 off the cobblestones,” the diplomat wrote. The host later tells him that Ramzan Kadyrov “had brought the happy couple ‘a five-kilo lump of gold’ as his wedding present.”

“After the dancing and a quick tour of the premises, Ramzan and his army drove off back to Chechnya,” the diplomat reported to Washington. “We asked why Ramzan did not spend the night in Makhachkala, and were told, ‘Ramzan never spends the night anywhere.’ ”

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Ramzan A. Kadyrov

http://topics.nytimes.com/top/reference/timestopics/people/k/ramzan_a_kadyrov/index.html?inline=nyt-per

VH1 Moment, since today is the day for leaking secrets, did you know that Rockwell is the son of Motown Records founder, Berry Gordy? But who is that singing the famous hook? Michael Jackson.

And a little Comic Relief..


Unemployment Benefits = The Bare Necessities of Life

November 28, 2010 Leave a comment

Americans during the Great Recession are not “living it up” on Unemployment Benefits…

Millions of Americans need help to get through these hard economic times while they look for an open job position, or two.

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http://www.nytimes.com/2010/11/28/opinion/28sun1.html?hp

Editorial

The Unemployed Held Hostage, Again

Published: November 27, 2010

EXCERPTS:

“Some opponents of unemployment benefits — mostly Republicans but a few Democrats as well — would have you believe those figures are evidence of laziness, enabled by generous benefits. They conveniently ignore three facts. One, there are five unemployed people for every job opening — a profound scarcity of jobs. Two, federal benefits average $290 a week, about half of what the typical family spends on basics and hardly enough to dissuade someone from working. Three, as unemployment has deepened, benefits have become less generous. Earlier this year, lawmakers ended a subsidy to help unemployed workers pay for health insurance and dropped an extra $25 a week that had been added to benefits by last year’s stimulus law.

Other opponents would have you believe that the nation cannot afford to keep paying unemployment benefits: a yearlong extension would cost about $60 billion. The truth is, we cannot afford not to. The nation has never ended federal benefits when unemployment is as high as it is now, and for good reason: Without jobs, there is inadequate spending, and that means ever fewer jobs. A wide range of private and government studies show that unemployment benefits combat that vicious cycle by ensuring that families can buy the basics.

Nor do jobless benefits bust the budget. Just the opposite. They do not add to dangerous long-term deficits because the spending is temporary. And because they support spending and jobs, they contribute powerfully to the economic growth that is vital for a healthy budget. Extending the Bush high-end tax cuts would be budget busting, because they are likely to endure, adding $700 billion to the deficit over 10 years. Tax cuts for the rich provide virtually no economic stimulus, because affluent people tend to save their bounty.

Ignoring facts and logic, several Republicans have said that any benefit extension must be paid for with spending cuts elsewhere. That would, in effect, be giving with one hand while taking away with the other. It is not only cruel, but foolish, because it would reduce the economic boost that benefits would provide.

President Obama should pound the table for a clean, yearlong extension of unemployment benefits, and should excoriate phony deficit hawks — in both parties — who say that jobless benefits are too costly, even as they pass vastly more expensive tax cuts for the rich.”