Thursday, April 2, 2009

SAR #9092


Someone's always to blame: Banks blaming mark-to-market for their troubles is much like blaming the National Weather Service for Katrina. The bad loans were bad loans before anybody from the outside mentioned it, and they'll be bad loans even if they get shoved back under the rug. Take your umbrella.

Listed: 50 truths for our times. Well, nearly 50 truths, some seem a little preachy.

Another Non-worry: Some are wringing their hands over the possiblity that the Fed may lose its political independence. And this would be a bad thing how? I'd rather see the Fed gain its independence from Wall Street. Go team.

What we learned from the Exxon Valdez: That if you're big enough you can get away with anything. That the courts exist to help the rich screw over the little guys without apology or embarrassment.

Wish I'd Said That: "The media are busy perpetuating a myth that the United States has been a beacon of "free market" capitalism. This is a lie. The United States never had free market capitalism and certainly the system in place over the last three decades hardly qualifies."

En Garde: In April elements of the Iowa National Guard will spend 4 days in door to door searches and vehicular searches at road blocks, and engage in other intelligence gathering exercises looking for a suspected weapons dealer who will be arrested late in the afternoon of the fourth day. If captured earlier he will be released, the Guard will count to 100 and the search will begin again. What is it they are really practicing for?

Paying the Band: The Bush Obama administration wants the Supreme Court to tell New York that it can't enforce fair-lending laws on banks like JPMorgan Chase and Wells Fargo because they are licensed to engage in fraud and usury by federal regulators.


Anonymous said...

The bit about the Iowa National guard is two months old and the exercise was canceled. Why keep dredging this up when there are new similar stuff out there? Not getting on your case, just asking. I still respect your opinion.

Merry-will-go-round said...

YeOldFurt -- What is your source for posting that this exercise was cancelled?

TulsaTime said...


in spite of the increasing unemployment and the rising defaults on corporate bonds and the theft of all public monies and the despoilation of the environment and michelle touched the f'ing queen for gods sake

guard can practice all they want but the revolution gonna be nasty fo th MAN

Merry-will-go-round said...

Were those AIG bonses really bribes? Institutional Risk Analyst has a juicy chicken-or-the-egg first expose at: