Is Brian Lin The Next Incarnation Of Joe Cassano?

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Thu, 07/21/2011 - 22:08 | 1479467 Steroid
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 "Joe Cassano, whose reckless bets nearly brought down capitalism".

Capitalism can not be brought down. It was fascism that was at risk and was saved.

Thu, 07/21/2011 - 22:41 | 1479523 grandcanonical
grandcanonical's picture

Exactly. It was very disturbing to read that line on ZH. 

Thu, 07/21/2011 - 23:09 | 1479564 nmewn
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"The price of freedom is eternal vigilance" TJ

Fri, 07/22/2011 - 01:32 | 1479700 MobBarley
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With enough torture, even Tyler Durden can be made to love Big Brother.

 

Fri, 07/22/2011 - 03:55 | 1479795 French Frog
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We should all congratulate Brian in making it into ZH's 'big league'

blin@rrmsco.com

Thu, 07/21/2011 - 23:32 | 1479595 Freddie
Freddie's picture

+1

Also great work by Tyler.

 

Too bad Forbes, WSJ, Bloomberg no longer do reporting like this.  It is all Lady Gaga, the porno business model (true - Forbes had garbage like that) amd Kim Kardashians newest STD"s and cellulite.  

Fri, 07/22/2011 - 03:03 | 1479765 A Man without Q...
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"In a must read Op Ed, Bloomberg's Jon Weil takes another long hard look at the balance sheet of the most undercapitalized bank in America...."

Credit where credit is due...


Thu, 07/21/2011 - 23:36 | 1479603 Hohum
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Sure, it can.  If it doesn't get the energy and materials it needs to expand, it perishes.  I know ZHers don't think this is possible in the next few million years.

Fri, 07/22/2011 - 00:14 | 1479607 Rynak
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"If my ideology is practiced as i want it, it is valid. If my ideology is practiced as i do not want it (which merely requires parasitism - individual or in collaboration), then it's not really my ideology, and thus i, identifying with my ideology, am free of guilt - it was someone else who did it".

Or in short: If stuff happens as i want it, then that was me. If stuff happens as i do not want it, then that wasn't me.

Right, if only everyone could have it as "comfortable", as ideologues.

Junk away - but remember: A "desired outcome" is not a model.... it does not include any description about the "how".... it is just a desired outcome..... a "claim". And even assuming that it were a model (which it isn't), any "tool" can be used for its intended "purpose", or be perverted. But really, let's not dig too deep and start thinking... let's just keep stuff generic, so that we don't have to bother adapting our thoughts to the details of the situation at hand.

Let's just continue claiming, that X is always the right approach, regardless of the circumstances, regardless of how and for which intentions it is done. Let's just continue to claim, that details do not exist: A holistic justification for reductionist ideology :)

(and yup, radical holistic ideologies will do the opposite bullshit: Justify themselves with reductionist assumptions, while rejecting the existence of them. To get this more in line with ZH terms: Radical individualist ideologies, are grounded on collective generalizations. Radical collectivist ideologies, are grounded on individual generalizations. Or in short: Both expect everyone magically taking something for granted, and never ever resist those premises.... because if they would do, the whole fancy ideology collapses like a house of cards)

Thu, 07/21/2011 - 22:18 | 1479482 Ahmeexnal
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Chinese mole planted deep inside US financial system?

Modern warfare. Who needs bombs.

Thu, 07/21/2011 - 22:28 | 1479501 Robot Traders Mom
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Did you see the movie Salt?

It was fiction.

Thu, 07/21/2011 - 23:39 | 1479609 Freddie
Freddie's picture

Who is the largest investor and joint venture partner in every TV network in the USA plus ownership and access to other western TV networks?  Prince Al Waleed aka puppet who manages Saudi Arabia's investments.

Who made the call to fire Rebekah Brooks at News International/News of the World (aka Fox aka Sky News aka News Corp)?   Al Waleed.  The Saudis are good friends with Mordeci's other tribal handlers who are quietly close with the Saudis.

 

Fri, 07/22/2011 - 03:04 | 1479767 A Man without Q...
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I think the idea of someone who doesn't really understand what they are doing is the more reasonable expectation.  

Fri, 07/22/2011 - 11:27 | 1480851 Robot Traders Mom
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Ahmeenaxal has a picture of Zack Gilifanakis so he can pretty much ramble on about whatever he wants.

Fri, 07/22/2011 - 08:37 | 1480027 snowball777
snowball777's picture

You can't tell Koreans from Chinese? Stupid round-eye.

Fri, 07/22/2011 - 08:45 | 1480048 Pladizow
Pladizow's picture

No, we cant tell the difference and for obvious reasons.

You dont have blond, black, brown or red hair.

You dont have curley or wavy hair.

You dont have blue, green, brown, hazel or violet eyes.

You dont have black or dark skin.

The option for variation is limited and therefore so to the look.

Sorry - its just nature - noithing more.

 

Fri, 07/22/2011 - 08:57 | 1480077 snowball777
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Sorry, toots; your humble snowball is the stereotypical blue-eyed devil, but I can tell the difference (especially when given the advantage of a surname). Perhaps you should try looking at them!

Fri, 07/22/2011 - 12:31 | 1481194 Ahmeexnal
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Right, so if they change their last name to Chapman you would never think they are ruskies.

Thu, 07/21/2011 - 22:22 | 1479492 buzzsaw99
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the tan man is laughing.

Fri, 07/22/2011 - 07:10 | 1479869 Miss Expectations
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Once upon a time, one would laugh all the way to the bank.  Now, well, they just walk away.

Thu, 07/21/2011 - 22:24 | 1479495 Ahmeexnal
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Guess who are the 2 people who have recommended him.

Thu, 07/21/2011 - 22:26 | 1479500 Robot Traders Mom
Robot Traders Mom's picture

Unbelievable reporting Tyler.

This is why Zerohedge has the most loyal following in everything that is important.

Thu, 07/21/2011 - 23:20 | 1479585 RoRoTrader
RoRoTrader's picture

Just out of curiosity, do you ever put a price on it as in 'buy at' or 'sell at'?......timestamps are nice........whatever, oil, equities, currencies.

 

Fri, 07/22/2011 - 08:42 | 1480044 Robot Traders Mom
Robot Traders Mom's picture

Not sure who you are talking to or what you are talking about...

Are we related?

Thu, 07/21/2011 - 22:32 | 1479509 Arch Duke Ferdinand
Thu, 07/21/2011 - 22:39 | 1479513 bob_dabolina
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BRIAN LIN BOHDI: [getting ready for their next robbery] 90 securities Johnny. That's all I ask for, just 90 MBS of your life Johnny, that's it. This is our tactic, is we strike fear. Once you get them to pee and shit down their leg, they submit. Also about fear, fear causes hesitation, and hesitation, causes your worst fears to come true.
[hands SEC AGENT a shot gun] 

 

SEC AGENT: I can't do this. 
BRIAN LIN BOHDI: Yes you can, who knows, you might like it. 
SEC AGENT: Bohdi , this is your fucking wake-up call man. I am an S, E, C, Agent! 
BRIAN LIN BOHDI: Yeah, I know man. Ain't it wild? That's what makes it so interesting. You can do what you want, and make up your own rules, sell naked CDS who gives a shit. Why be a servant to the law, when you can be it's master and sell CDS? 

MARY SCHAPIRO: Fuckin' a! 

TIM GEITHNER: I love this job. 

Thu, 07/21/2011 - 22:42 | 1479525 lolmao500
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http://www.washingtonpost.com/blogs/ezra-klein/post/wonkbook-is-july-22n...

Wonkbook: Is July 22nd the new debt-ceiling day?

You've probably heard that Aug. 2nd is the drop-dead date for a debt-ceiling deal. Nuh-uh, the White House tells Damian Paletta. It's actually July 22nd. Writing and passing the legislation takes some time, as does working the money through the Treasury Department. This can't be left until the last moment.

Thu, 07/21/2011 - 22:48 | 1479536 Hacksaw
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In the immortal words of Matt Taibbi,

And nobody appears to give a shit. What the hell is wrong with people? Have we all lost our minds?

http://www.rollingstone.com/politics/blogs/taibblog/holiday-in-scambodia...

Fri, 07/22/2011 - 08:05 | 1479948 theprofromdover
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So just abandon Corporation Tax.

Just make it a sales tax on every sale -try moving that out of the country.

Then you could simplify the entire tax code and start working on all those 'special reliefs'

Tax the dividend, tax the salaries, tax the bonuses.

Should be enough tax revenue for a lazy corpulent central government, Shirley.

Thu, 07/21/2011 - 22:56 | 1479542 Atomizer
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They want a synchronized global forex collapse. Wall Street bets are banking.

Fri, 07/22/2011 - 04:12 | 1479810 ZeroPower
ZeroPower's picture

How? One pair down = one up.

Thu, 07/21/2011 - 23:03 | 1479551 GiantWang
GiantWang's picture

This is fine, fine work Tyler and Zero Hedge.  I too believe in the legal process and was amazed to see such a small settlement amount.  I will be buying BAC puts tomorrow.

Thu, 07/21/2011 - 23:05 | 1479557 Tater Salad
Tater Salad's picture

Tyler(s), why the viagra, 4+ hour hard on for BAC?

Move along, dead news...

Thu, 07/21/2011 - 23:43 | 1479618 Ropingdown
Ropingdown's picture

Probably because BAC is one big big bitch.

"When mark-to-market become the-market-is-the-mark."  BAC chapter.

Thu, 07/21/2011 - 23:09 | 1479566 Atomizer
Atomizer's picture

The New World Order Currency Crisis

http://www.youtube.com/watch?v=EGYGyGbr0vA

The policy makers are at their end of rope. When US comes to agreement on debt ceiling, all domino's begin to fall.

Thu, 07/21/2011 - 23:11 | 1479568 random shots
random shots's picture

.

Thu, 07/21/2011 - 23:11 | 1479569 chump666
chump666's picture

Great article!  Forgot about that rogue trader...we are due for another rogue play gone bad. 

Wonder if one of Talebs black swans are flapping around somewhere on the rogue /mega bad bet trade?

Thu, 07/21/2011 - 23:21 | 1479572 Founders Keeper
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More corruption. More crony capitalism. More conflict of interest. More injustice.

 

"we never should have let ourselves be put in the position where a collapse in confidence at a single bank could wreak havoc on the world’s economy." Geez, you think? 

"It is hard to imagine why a court would not require Countrywide and Bank of America to repurchase all loans..."  The courts have been corrupted? The judicial branch is colluding with the executive branch? The courts are no more interested in exposing the truth than anyone else? (Ask GM bond holders.)

Because if law itself is held hostage by a bank's massive undercapitalization, then one may as well admit that America has devolved into complete fascism. The word you're searching for is not "fascism." It's corruption---plain ol' corruption.  Nothing fancy. (It's been around a long time.)

Does one now see why perhaps Mr. Lin may not have been the best choice to evaluated the trust shortfall, and the "settlement" process. See why? Geez, half-way thru the article I assumed Mr. Lin and RRMS were assigned the BoA job on the basis of cronyism.

No offense, TD. This is a solid article by every measure. It's me. I've read all I can read about the ongoing corruption.

 

Thu, 07/21/2011 - 23:13 | 1479574 chump666
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"At RRMS Advisors' offices in an aging building on East 40th Street, Vincent Spoto and his four partners share space with a small headhunting outfit, and they hold meetings in a windowless conference room the size of a large closet…"

hahahahaha...

Fri, 07/22/2011 - 07:18 | 1479878 Miss Expectations
Miss Expectations's picture

Sounds bad, but 10 East 40th Street isn't so bad:

http://uk.ask.com/wiki/10_East_40th_Street

Fri, 07/22/2011 - 09:50 | 1480261 blunderdog
blunderdog's picture

One of my past office gigs was there.  Fine building, dodgy elevators, somewhat inadequate AC.

Thu, 07/21/2011 - 23:37 | 1479606 vegas
vegas's picture

Great post TD.

At the heart of all this shit is the undeniable fact that there is no accountability or repurcussions to those that "finacially rape" the system. To every eyebrow raising moral hazard, conflict of interest, and under the table cash spread everywhere, there is absolutely no deterrent stopping them from repeating the process.

The reponse to all this shit is - move along, no story here -  afterall, these are the "wizards of smart" and the world couldn't turn if it wasn't for their genius.

Thu, 07/21/2011 - 23:57 | 1479637 Yen Cross
Yen Cross's picture

  Tyler I agree whole-heartedly. should we in the private sector. Be feeding unlearned J.D.'s this information? It seems that every single idea is reverse engineered and used against us!

Fri, 07/22/2011 - 00:04 | 1479642 Vic Vinegar
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I like seeing you give us more than one sentence.  And I want to party with you more than any other Zero Hedger...yet I want to party with a lot of Zero Hedgers.

Fri, 07/22/2011 - 00:25 | 1479658 Vic Vinegar
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I gotta log off now so here's a couple of quick thoughts:

Tyler - with all due respect, the only must-read thing we are going to get from Bloomberg from here on out is the piece where Dom Chu opens up about the number of women he's tagged.  Vegas has set the over/under at 0.5.  To Dom's credit, if you want the under, it's -120.

Yen - you are the man.  Keep on rockin' in the free world, buddy!

http://www.youtube.com/watch?v=fQccK0F1_iY

Fri, 07/22/2011 - 00:00 | 1479639 cosmictrainwreck
cosmictrainwreck's picture

man oh man.... how pathetic is this? Some douche with a BS in business (GPA?) out of a crank-'em-out public university "advising" on multi-billions. I'd be speachless except I'm jaded. Just one more illustration of my favorite analogy: that $2 billion aircraft fixin' to be grouded (or crashed) by failure of a $4.95 part......

Fri, 07/22/2011 - 01:32 | 1479699 old naughty
old naughty's picture

you 'pointed' it down in flame.

thanks to Tyler for sharing.

Fri, 07/22/2011 - 08:41 | 1480040 snowball777
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New York University (NYU) is a private, nonsectarian research university based in New York City.

Fri, 07/22/2011 - 13:44 | 1481520 cosmictrainwreck
cosmictrainwreck's picture

Well shut mah mouth....I am humiliated. Guess that makes him infinitely more qualified? Even so, I doubt this turns out well......

Fri, 07/22/2011 - 01:32 | 1479701 Michael Victory
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F*k all.

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