Mary Schapiro Must Immediately Investigate The FDIC's Confidential Information Leak In Another Blatant Insider Trading Case, Then Resign
The degree of insider trading in this market is getting ridiculous. And the strangest thing is those who are executing on blatantly obvious material, non-public insider information, are no longer concerned the least bit about getting caught as they realize that the "mighty" SEC will do nothing against them, courtesy of the example the SEC has set by finding absolutely nobody "responsible" (except, of course, the regulator's own future employers who thus get immunity from prosecution) for the greatest market heist in history in which over $5 trillion has been transferred from the middle class to the Wall Street oligarchy (future providers of paychecks for SEC staffers).
Today's grotesque example of the SEC's futility to act as even a modest deterrent to insider trading activity: New York Community Bancorp (which, just so happens, is a $602 million recipient of TLGP debt), whose stock surged in the final minutes of trading for reasons (then) unknown. As reader QevolveQ pointed out at 5:30 pm, the activity in both the stock and the calls of the company was many standard deviations away from average and raised major red flags. Those questions were quickly put to rest when it became known at 6:33 pm that NYB would in fact receive FDIC subsidies to acquire newly failed AmTrust Bank in a transaction that would be "immediately accretive to earnings." And how wouldn't it be:
Under the terms of the agreement, the Community Bank did not acquire any of AmTrust Bank’s non-performing loans serviced by AmTrust Bank or any other real estate owned; construction, land, or development loans; private-label securities, or mortgage servicing rights, nor did it acquire any of the assets or assume any of the obligations of the holding company.
No, those would conveniently be funded by Ms. Bair herself. The cost to the FDIC, and US taxpayers, to make NYB a richer enterprise: $2 billion. This is value that will go straight to the bank's bottom line. As a result of this middle-class subsidy it was a certainty that its shares would spike.
The smoking gun here comes straight from a quick observation of NYB's intraday P/V chart: the jump at 3:24pm on statistically significant volume is a clear signal that someone was fully aware of the soon to be announced transaction:
Furthermore, as QeQ highlights, "8,933 of the Dec 12 calls traded vs. 2,244 OI, finishing +300% on the day." A very solid return for a few hours of trading. The block trades are visible below: one set of 2,500 Dec $12 calls bought at $0.20, followed promptly by two more 2,500 blocks around $0.25. With the stock poised to open much higher than its closing price, someone is sure to make a killing.
It is practically certain that the NYB stock and option transactions came courtesy of a insider tip. And as NYB is both a ward of the state, courtesy of its TLGP umbilical cord, and as the bank would soon become $2 billion richer as a result of some more middle class-to-Wall Street fund flows, it is very likely that the FDIC itself is the source of such leak. We truly hope that one of D.C.'s most ineffective and useless females (if grossly, grossly overpaid for her "work" in 2008) will analyze whether the agency headed by another such female has been responsible for yet more illegal insider trading activity. That the government is only capable of promoting unpunished criminal activity would not surprise anyone at this point. And as this will be one of those cases when everything is handed to the SEC on a silver platter, we don't doubt that some minor scapegoat will be put away to make it seem like the most worthless organization in the world earns its $1 billion annual budget fair and square. What is chilling is the complete disdain that insider traders now flaunt when it comes to fear of retribution by the "regulators." And when Ms. Mary "$3.3 Million" Schapiro is done catching any and all masterminds behind this dastardly deed, we would all be very grateful if she could leave her keys, her chauffeur, and her masseuse as she packs her banker box full of Wall Street indulgences on the way out of public office once and for all - Ms. Schapiro, the public does not want you betraying its trust any longer. Now please go work for Goldman Sachs where your continued betrayal of U.S. interests will be welcome and compensated much better than the meager $3.3 million you made at Finra. The sooner you get into a job that requires efforts more consummate with your diminished capacity, the sooner you can continue counting the $5-$25 million in cash payouts you slurped up from FINRA's defined benefit plans.
(22 votes)
on Fri, 12/04/2009 - 20:46
#153478
Tyler, from another post down below.
Ghost,
Look at the agreement with the FDIC. The FDIC got an instrument worth 25 million shares priced at the average of the prior two days VWAP of the day that this stock hit $12.33 per share. Gee, go look at what your second article on yahoo has its closing price at ($12.33). Methinks that this maybe an FDIC ramp job... or a ramp job done by the bank with an SEC blessing... Its a quick way to get roughly $250 million to the FDIC so they can close more banks.
link http://finance.yahoo.com/news/New-York-Community-Bancorp-bw-3256084302.html?x=0&.v=1
Link originally provided by Ghostfacedinvestah
on Fri, 12/04/2009 - 20:56
#153493
Way to go guy's, help me clean up this god awful mess.
Wish there was some way to convey this to the Joe 6 packs out there.
many thank's
Timmay
on Sat, 12/05/2009 - 01:26
#153712
This is absolutely NOT the first time this sort of insider trading has occurred.
Last September, IIRC, there was a bank in the midwest who's stock nosedived midweek. Night and day trading level difference. And that Friday, it was announced that it was taken over by the FDIC.
As far as I can see, this type of insider trading is standard operating procedure. One would think that the FDIC would be reporting this to the SEC, but it seems that neither the SEC nor the FDIC seem to care.
The mantra seems to be to protect the Bankers at all costs, IMHO.
on Sat, 12/05/2009 - 09:19
#153805
I never considered myself a sharp tack. Im fact, I just wanted to take care of my family and do my job as I saw fit. Monetary, fiscal policy, and banking were NEVER of interest to me.
THen this little old man from Texas started talking asking silly questions like "what is money?" and from there I decided my life must include me finding out as much as possible about the nonsense going on and then to spread the truth to all I encounter.
I piss off some people and some people nod off to sleep, while still some understand what it is I am saying and I can see the light bulb go off in their head.
There are many more of me out there and they are doing the same thing. Soon the fiat empire will see its own demise and I will do my part to make this a reality.
Regards,
Maryjane Sixpack (Joe Sixpack's sister)
on Sat, 12/05/2009 - 14:07
#153969
Thank you. I can relate to your plight.
on Fri, 12/04/2009 - 21:16
#153521
Relevant section of the agreement:
As part of the consideration for the transaction, the Company issued an equity appreciation instrument to the FDIC. Under the terms of the equity appreciation instrument, the FDIC has the opportunity to obtain, at the sole option of the Company, a cash payment or shares of its common stock with a value equal to the product of (a) 25 million and (b) the amount by which the average of the volume weighted average price of its common stock for each of the two NYSE trading days immediately prior to the exercise of the equity appreciation instrument exceeds $12.33. The equity appreciation instrument is exercisable by the FDIC from December 9, 2009 through December 23, 2009. The payment, if made, will be a charge to capital which, if made, would reduce the price per share at which any common stock offering made in the quarter would increase all of the Company’s capital metrics.
Taken from the Yahoo article linked above, just in case it gets "editted for clarity".
on Fri, 12/04/2009 - 21:35
#153544
Layman's English?
on Fri, 12/04/2009 - 22:11
#153571
153544,
Please understand that my major is NOT finance or economics, but what I get from this is:
Part of the agreement between NYB and the FDIC was that the FDIC got a financial instrument that is worth the average of the volume weighted average price of NYB's shares on the two days (Wednesday and Thursday) prior to the day that NYB's share price exceeded $12.33 (Friday). This instrument is the equivalent to 25 million shares of NYB times that average VWAP from Wednesday and Thursday, and NYB can choose to pay it out in either common stock or cash.
One caveat of this is that the deal is only good between 12/09/2009 and 12/23/2009, so the share price has to stay that way for five more days.
The reason I say its an FDIC or SEC ramp job is that they want the share price to go as high as possible prior to the opening date to transfer as much money as possible to the FDIC.
The language on how this effects shareholders and capital base I can not decipher, sorry.
on Fri, 12/04/2009 - 22:21
#153582
Lonewar, thank you so much for your insight. This is what makes this such a great site, honest commentary, delivered without bias or misguided undertones!!!!!!
on Fri, 12/04/2009 - 22:19
#153579
It roughly says that the FDIC gets [ $25 million * (stock price - 12.33)] while the bank gets to offer more stock without changing its capital requirements, as well as the extra assets. Another case where the FDIC pushed really, really hard to get the best deal for the US taxpayer.
on Fri, 12/04/2009 - 21:58
#153561
So now the FDIC may have to accept common stock onto its balance sheet? Is this typical of FDIC operations, or is it QE in disguise?
Wilderman
on Fri, 12/04/2009 - 22:22
#153587
If by typical, you mean typical of the FDIC making shit up as they go along, then yes.
on Fri, 12/04/2009 - 20:48
#153482
Effect on gold, + or - ?
on Fri, 12/04/2009 - 20:57
#153496
Selfish Goldbugs...
on Fri, 12/04/2009 - 21:13
#153519
Merely helping to prove the truism that every discussion eventually turns to !!!!! WATCH OUT GOLD @ $2000 or $200, depending on the author.
on Fri, 12/04/2009 - 21:30
#153537
And just how much do you own or control?
on Sat, 12/05/2009 - 09:45
#153814
Oddly enough, I didn't see 1500 gold -3 cents posts when gold was down the other day.
I'm not saying that I want anybody to fail in their trades, so don't take it that way. It's just that on a gold UP day, there's 1500 posts every time it goes up three cents....
on Sat, 12/05/2009 - 09:45
#153815
Oddly enough, I didn't see 1500 gold -3 cents posts when gold was down the other day.
I'm not saying that I want anybody to fail in their trades, so don't take it that way. It's just that on a gold UP day, there's 1500 posts every time it goes up three cents....
on Sat, 12/05/2009 - 20:13
#154160
Good point, MB. I like the shiney metal. Friday's action wasn'tcool. I don't like how the beaaaahch be trading here. I also don't like how fookin popular it now be,if ya know what I'm sayyyyyin?. I'mlooking to pickupmy marbles and move on to another playground.
Thanks for keepin it real. Now go jerkyourself a soda! :)
on Sat, 12/05/2009 - 06:37
#153773
Selfish DOLLARbugs manipulating stocks, stealing hundreds of billions and backing trillions while making taxcows pay for bankster/investment fraud.
on Fri, 12/04/2009 - 20:59
#153500
Can't you see this is more important than your gold! This matters.
on Sat, 12/05/2009 - 11:39
#153883
It is the rising price of gold that should have given you your first clue that..., yes, it really matters.
on Sat, 12/05/2009 - 14:21
#153978
Anytime the government must print or borrow more money to bail out the private sector, the effect on precious metals is positive. More debt and more printing = lower dollar = higher gold and silver.
We are currently in an intermediate correction for gold that should see the price consolidate in the $1,100-$1,200 range, but $1,300 is the target for completion of this upleg.
Check out this excellent article for charts and gold price prediction by analyzing past uplegs:
http://www.goldstockbull.com/articles/correction-time-for-precious-metals/
on Fri, 12/04/2009 - 20:52
#153486
Oh what a tangled web we weave.
on Fri, 12/04/2009 - 20:54
#153488
Great piece - hopefully the subpoenas are being drafted as we speak.
on Sat, 12/05/2009 - 11:48
#153886
IMHO...there will be no subpoenas, there will be no investigations. Even IF there were to be, any of the accused will probably die of old age long before the case sees the light of day.
Still, the good fight must continue with these things being exposed by the good folks that haunt this blog. Good work!
on Fri, 12/04/2009 - 20:54
#153489
Is there a service to subscribe to which screens the market finding these anomalies and sends electronic alerts?
Seems like a great idea to find these "inexplicable" lone stock surges and join the momentum.
on Sat, 12/05/2009 - 16:19
#154028
-= ahem =-
The market is currently driven on a daily basis by algos that are doing essentially that; notice a tick, drive into it, stir up the other algos and draw in a few retail traders, calculate the asymptotic peak, sell early into the peak, dump on the down side as any humans jump in with late bids. Then tie up the lose ends, update a database table with another row of winnings, reset, resume search.
The entire process probably typically takes about 180 seconds, and with multiple threads running across the cloud then you could have -- Hell I don't know -- say a hundred of these events running concurrently, each generating -- let's see -- say $100-1000 profit on exchanges per event depending on who jumps on and how dumb they are. Representing maybe $10K cleared profit every 3 minutes across the whole cloud.
And on a good day with plenty of random volatility you could double that.
It's just like printing money. But it is a type of theft born of our lust for speculation over real investment.
And while the same technology could be used as you suggest, to notice unfair ramps, why would anyone use it that way when instead they could clear $10K a minute?
cougar
on Fri, 12/04/2009 - 20:58
#153498
Nothing to see here, move along....
Sheesh. The best place to hide things is in broad daylight. Anyone have a set of dentures to loan the SEC?
on Fri, 12/04/2009 - 21:00
#153502
Just remember that cash, like fetal, is a position.
on Fri, 12/04/2009 - 21:04
#153503
You mean the strong market hypothesis is disproven? I'm shocked, shocked I tell you!
on Fri, 12/04/2009 - 22:24
#153591
The very Weak EMH still standing, somewhere.
on Fri, 12/04/2009 - 21:07
#153508
This article is what I have come to expect from ZH...bleeding edge corruption destroying truth delivered with wit that makes me laugh so hard it hurts.Excellent work Tyler.I can't wait for the perp walk on this turd.
on Sat, 12/05/2009 - 20:15
#154164
+100 and fitty
on Fri, 12/04/2009 - 21:08
#153511
Kinda pisses you off, doesn't it?
on Sat, 12/05/2009 - 12:44
#153929
No...it makes me sad.It is further evidence that our country is doomed.From the unconscionable at par of the AIG counter-parties to Goldman's impossible trading results, the high crimes that destroy our future continue.No rule of law=no future....it is just that simple.Unless someone steps forward to prosecute these crimes....the system and country will fall.I hold little hope considering the lame lip service to the AIG debacle at the fed chairman hearing.Why hurl invective when prosecution is needed?The answer is simple: prosecution is just not on the table.
on Fri, 12/04/2009 - 21:11
#153515
SEC will do very little if anything. As a friend of mine who works there said (after equating working there to being like a suckling pig), "Everybody knows we're just for show." For about 5-10 seconds after that he had difficulty understanding my less than warm reception of his comments.
on Sat, 12/05/2009 - 12:00
#153891
I need a no-work job like that.
on Fri, 12/04/2009 - 21:19
#153526
0 0 0 "When buying and selling are controlled by legislation, the first thing to be bought and sold are legislators."
P.J. O'Rourke
on Fri, 12/04/2009 - 21:39
#153546
"Then you will see the rise of the men of the double standard--the men who live by force, yet count on those who live by trade to create the value of their looted money--the men who are the hitchhikers of virtue. In a moral society, these are the criminals, and the statutes are written to protect you against them. But when a society establishes criminals-by-right and looters-by-law--men who use force to seize the wealth of disarmed victims--then money becomes its creators' avenger. Such looters believe it safe to rob defenseless men, once they've passed a law to disarm them. But their loot becomes the magnet for other looters, who get it from them as they got it. Then the race goes, not to the ablest at production, but to those most ruthless at brutality. When force is the standard, the murderer wins over the pickpocket. And then that society vanishes, in a spread of ruins and slaughter.
"Do you wish to know whether that day is coming? Watch money. Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion--when you see that in order to produce, you need to obtain permission from men who produce nothing--when you see that money is flowing to those who deal, not in goods, but in favors--when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you--when you see corruption being rewarded and honesty becoming a self-sacrifice--you may know that your society is doomed. Money is so noble a medium that is does not compete with guns and it does not make terms with brutality. It will not permit a country to survive as half-property, half-loot.
"Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked, 'Account overdrawn.'
"When you have made evil the means of survival, do not expect men to remain good. Do not expect them to stay moral and lose their lives for the purpose of becoming the fodder of the immoral. Do not expect them to produce, when production is punished and looting rewarded. Do not ask, 'Who is destroying the world? You are.
[Francisco's money speech]
on Sat, 12/05/2009 - 10:51
#153852
adding to 153546
(From the book "Political Ponerology" by Andrew M. Lobaczewski published by Red Pill Press)
Our own examination of the prevalence of psychopathy within a university population suggested that perhaps 5% or more of this sample might be deemed psychopathic, although the vast majority of those will be male (more than 1/10 males versus approximately 1/100 females).
[….]
One researcher, Alan Harrington, goes so far as to say that the psychopath is the new man being produced by the evolutionary pressures of modern life.
Certainly, there have always been shysters and crooks, but past concern was focused on ferreting out incompetents rather than psychopaths. Unfortunately, all that has changed. We now need to fear the supersophisticated modern crook who does know what he is doing ... and does it so well that no one else knows. Yes, psychopaths love the business world.
Uninvolved with others, he coolly saw into their fears and desires, and maneuvered them as he wished. Such a man might not, after all, be doomed to a life of scrapes and escapades ending ignominiously in the jailhouse. Instead of murdering others, he might become a corporate raider and murder companies, firing people instead of killing them, and chopping up their functions rather than their bodies.
[…T]he consequences to the average citizen from business crimes are staggering. As criminologist Georgette Bennett says, “They account for nearly 30% of case filings in U.S. District Courts - more than any other category of crime. The combined burglary, mugging and other property losses induced by the country’s street punks come to about $4 billion a year. However, the seemingly upstanding citizens in our corporate board rooms and the humble clerks in our retail stores bilk us out of between $40 and $200 billion a year.”
Concern here is that the costume for the new masked sanity of a psychopath is just as likely to be a three-piece suit as a ski mask and a gun. As Harrington says, “We also have the psychopath in respectable circles, no longer assumed to be a loser.” He quotes William Krasner as saying, “They – psychopath and part psychopath - do well in the more unscrupulous types of sales work, because they take such delight in ‘putting it over on them’, getting away with it - and have so little conscience about defrauding their customers.” Our society is fast
becoming more materialistic, and success at any cost is the credo of many businessmen. The typical psychopath thrives in this kind of environment and is seen as a business “hero”.
http://ponerology.com/
on Sat, 12/05/2009 - 13:15
#153946
You can rob and steal better with a pen (or computer) than you can with a gun.
on Sat, 12/05/2009 - 15:47
#154010
@153852,
That's one hell of a frightening thought. Very interesting, and that you for sharing.
on Sat, 12/05/2009 - 13:40
#153959
Francisco?? do you have a bettere reference.
regards
on Sat, 12/05/2009 - 15:44
#154008
Francisco d'Anconia
on Sat, 12/05/2009 - 20:45
#154172
Ayn Rand's expostion of personal and social consequences of perverting the moral concepts of wealth ownership ought to be required reading for every high school and college student, whether one agrees with her premise or not. Her assertions are powerful, and bring needed intellectual light to those who just can't figure out the nature of our current economy.
on Sun, 12/06/2009 - 00:59
#154308
Could have been uttered by John Galt.
on Fri, 12/04/2009 - 21:20
#153529
Well done.
Shame the establishment can't cope, but since Zero Hedge can, I'm here.
on Fri, 12/04/2009 - 21:25
#153536
Marla's not spinnin, so will give it a try
http://www.youtube.com/watch?v=cdVVLbe1rfY&feature=related
on Fri, 12/04/2009 - 21:55
#153560
And:http://www.youtube.com/watch?v=aHugDOFupOM
on Fri, 12/04/2009 - 21:31
#153539
I like a man who doesn't mince words (but is long hyperbole and wit).
How much does the SEC owe ZH now (finders fee). Pretty sure you can just round up to $1b and the SEC can call it a day.
One has to ask how it is that people like Mary Schapiro manage to fail up with such vigor?
on Fri, 12/04/2009 - 21:52
#153557
Mary's not failing. Oh no, she's succeeding very well, thank you. She's got just the qualities that are needed for the job. ;-) I do expect that to change, though.
on Fri, 12/04/2009 - 21:33
#153542
Favorite game now being played by the Mo-Mo Monkeys.
Pick what bank gets to pick up the carcass, and run it.
Same thing happened with EWBC, arguably one of the worst run banks in Los Angeles. Ramped huge after it was "awarded" the corpse of United Commercial Bank in San Francisco.
on Fri, 12/04/2009 - 21:39
#153547
The insiders, likely Goldman Sachs know exectly who is getting shut down, who is recieiving Fed money and they are making huge trades and money immediately preceeding these acts. Bet you bottom dollar not 1 investigation will come out of the SEC. I believe the only hope rest in the People, Congress and the dissenters r...emaining at the FBI. The SEC is corrupt. This is pure collusion between the government and big business which is pure economic fascism...
on Fri, 12/04/2009 - 22:22
#153589
Ditto wgpitt
The last year has been simply OVER THE TOP. Goldman and co has managed the biggest heist and wealth transfer via their enormous Washington power. Damn it.
I'M PISSED!!
on Sat, 12/05/2009 - 00:53
#153693
I've got to get to a desktop before I make another post. I swear I passed 3rd grade spelling...4th was pretty tough though...:)
on Fri, 12/04/2009 - 21:43
#153550
This site is more addictive than than Tobacco, Cocaine and Sex all combined.
Reminds me of the Opium of olden days.
on Sat, 12/05/2009 - 00:47
#153689
Sex?
on Sat, 12/05/2009 - 08:49
#153793
"That ain't no shit"
on Sat, 12/05/2009 - 09:50
#153818
Can I just say that I always used to LOVE opium back when I did drugs? I mean, I'm clean now so don't misunderstand me, but if there's anything that should be addictive, it's that. It seems that they use all the poppies to make heroin instead though now.
on Sat, 12/05/2009 - 11:58
#153889
With the name you prefer to go by, you can't be too clean.
on Sat, 12/05/2009 - 20:12
#154159
not heroin amigo, oxycodone
on Sat, 12/05/2009 - 18:46
#154109
word . . . the only place you can find the truth about what's going on out there . . .
on Fri, 12/04/2009 - 21:48
#153552
Thank you again, ZH. I was watching FAZ and it fell off of a cliff at about that time. SheBear should resign in disgrace after this is made public. I'm for the resignation of Mary Shapiro, too. What's wrong with America? We are so convinced of the social safety net that, although the DIF is bankrupt, there has been no run on the banks. At some point soon, money is going to become scarce enough that it will matter again and the promises of government will not assuage the American public. I firmly believe that if all government support were removed from the economy, the aggregate net worth of American companies would be at most 25% of what it is now. The banks would be zero, even Timmay agrees.
on Sat, 12/05/2009 - 09:21
#153806
How can we put pressure on getting this moron to resign? Congress? Obama Administration? Who controls this idiot's leash? It's time.
on Sat, 12/05/2009 - 12:41
#153924
We need more media attention. Don't take this as an endorsement of him, but Dylan Ratigan has become very interested in Wall Street/USG corruption. He posts a column on HuffPo. I don't have an e-mail contact for his MSNBC show but he does host a Sunday radio show from 7 to 9 AM on WABC. The call-in number is 800-848-9222.
on Sat, 12/05/2009 - 10:57
#153855
Is anyone surprised by Mary's worthlessness? I was screaming left and right when she was nominated for the job. Nobody in the MSM is doing their job. Without TD and this forum, sedation is the only option.
on Sat, 12/05/2009 - 12:34
#153915
Sedation? Or Sedition?
Your choice.
on Sat, 12/05/2009 - 12:51
#153937
Sedition, as soon as humanly possible, with minor sedatives, just to take the edge off.
on Fri, 12/04/2009 - 21:49
#153554
Enough of this is enough.
I ask again:
Are there enough of US, to pass the word to enough of us, to pull enough "cash" (paper currency) out of the system, to lock it up? How much currency would it take?
How about a plan?
on Fri, 12/04/2009 - 22:25
#153595
Ditto.
They ain't gonna stop themselves.
I am capitalist. And these guys are NOT capitalist. I want free markets back. This government ownership by Goldman and use of taxpayer funds to save THEIR asses. It's gotta stop. And I like your idea cause its really gonna have to be something that closes their casino.
on Sat, 12/05/2009 - 00:23
#153671
This is why I decided to become a gold bug. I have no money in banks, no debt. I am out.
Starve the beast.
I am a slight liar, I have money trapped in an annuity until I am fired or retired. This my employer forced on me. I have never paid into it though.
on Sat, 12/05/2009 - 04:55
#153763
What about the CC debt to buy the gold?
on Sat, 12/05/2009 - 12:35
#153917
Paid it back already, without paying interest.
on Sat, 12/05/2009 - 10:18
#153810
Here's the plan. They screw up badly enough and create enough unemployed that they lock the system up anyway. Even if unemployment stops it's descent, the fractional reserve system is so leveraged at this point it's just a matter of waiting for the pig poop to come out the other side of the python.
on Sat, 12/05/2009 - 10:59
#153859
I removed all of my cash from the too-big-to-fail institutions last October as a matter of protest. But understand that in order to have any effect whatsoever on the Federal Reserve system, a huge sum would have to be withdrawn. Just to overcome annual production of new $100 notes this year by the Bureau of Engraving and Printing you'd need to pull the ginormous sum of $175,000,000,000.
- Heretic
on Sat, 12/05/2009 - 16:38
#154043
Someone correct me if I'm wrong on this -- but they don't need to wait for any of us plebs to deposit money in a bank to have all the money they need for this sort of thing. Because the Fed is sending them on-demand boatloads of free cash, meaning $billions at a time. All taxpayer money of course, so it's still your's/mine/ours, but the point is they aren't relying on any of us for the resources they use to game the system and derive massive profits.
cougar
on Sat, 12/05/2009 - 17:09
#154061
They create tax payer debt that the banks loan out and if they can get us to get our cash involved, they can use that to pay back the "loan" and keep some as profit. If they default, oh well, we are on the hook for it anyway. Meanwhile, as they pump up the market, if you and I get in it, we are left holding bags of shit that will rapidly devalue (nothing fundamentally underpinning them) when they take their money out and go home.
We get stuck no matter how you look at it. That is what is so fucking "pissed off making" about this whole charade called our economy. My thing is to minimize my exposure to them and to give them as little as possible to play with. The bitch of it is that they can default on their little games and we still get to back stop it.
FUCKERS.
Hope I have been clear, awesome green kitty avatar, who I think is a Maine coon, but you never answer (which is your right, but it is one of the prettiest avatars here).
on Sat, 12/05/2009 - 22:54
#154235
MsCreant, if only you knew...
I really enjoy reading your posts because you have a great perspective and good understanding of the basic economic and political mechanics. I think you'll enjoy this link:
http://www.economichitman.com/
From Wikipedia:
If you really want to go rogue, here's a link to download both the .MP3 and the .PDF format of the book (its a bit torrent file; if you need help understanding how it works, let me know):
http://btjunkie.org/torrent/Confessions-of-an-Economic-Hit-Man-text-and-...
on Sun, 12/06/2009 - 02:44
#154326
Looks interesting. I am not too computer savvy, went to the link not sure what to do next or too sure when I am going to get my machine in trouble. May have hubby help me.
Thanks.
I am always open to consiracy stuff, but lots of times it is the simplest explanation that gets the job done. With the economy, that does not seem to be the case though, eh?
on Sun, 12/06/2009 - 09:37
#154398
I agree about the conspiracy theory stuff. Not an all for or all against conspiracy theory person, but more times than not they fit the bill- which I suppose makes sense, given the concentration of wealth and power in the world... Which reminds me, another good read is "The Rothschilds: A Family Portrait."
http://www.amazon.com/ROTHSCHILDS-FAMILY-PORTRAIT-frederic-Morton/dp/002...
Stories are almost as good as Jessie Livermore's from "Reminiscence of a Stock Operator," especially the chapter about how they made their wealth by having advanced knowledge about Napoleon at The Waterloo.
To access the file, download the software from this site:
http://www.bittorrent.com/
Then, from the link in the prior post, right click ("Save Link As") the top green box (this is the bit torrent file, and the file will be very small). Once downloaded, double click the bit torrent, and it will open in your BT software program. Even at 267MB, it should download pretty fast, because it is a very popular file (took just under and hour for me).
And I also agree with your last point (conspiracy theory and the global recession). Doesn't work too well, and it seems that too many people had a hand in it to create this amalgamation of economic hell.
on Fri, 12/04/2009 - 21:51
#153556
This is perfectly normal in a (S)apitalistic system...the wealth of the masses gets sapped into the coffers of the few.
"No, those would conveniently be funded by Ms. Bair herself. The cost to the FDIC, and US taxpayers, to make NYB a richer enterprise: $2 billion. This is value that will go straight to the bank's bottom line. As a result of this middle-class subsidy it was a certainty that its shares would spike."
on Fri, 12/04/2009 - 22:02
#153558
Fuck it. Anoint Goldman as "Capital Markets Czar" and see what happens. This system is broken and cannot get any more corrupt than it is now, can it!? (Don't answer that, please!) Send Lloyd & Co. after the rats in the FDIC, SEC, FBI, IRA, and PMS, and see what happens. It's hunting season, and I'm fucking hungry.
Fuck it all and no regrets.
http://www.youtube.com/watch?v=a3F2VrLcFgc
on Fri, 12/04/2009 - 22:00
#153565
The first big state attorney general or senior FBI director with clout that brings a case against an agency of the government will be a strong candidate for president.
The most important issue to take care of at home is to weed out corruption. We are suffering a crisis of confidence in the government leading to a crisis of confidence in the currency.
If corruption is not prosecuted it will result in the collapse of these United States.
on Fri, 12/04/2009 - 22:33
#153604
This may be the best comment ever on Zero Hedge and I have been here since almost day one and have read virtually every article.
Nicely said AN
on Fri, 12/04/2009 - 23:53
#153655
Second that.
on Sat, 12/05/2009 - 00:39
#153682
Hell yeah!
on Sat, 12/05/2009 - 00:53
#153684
The deadhead said it. Everything in a nutshell.
This is not just a case, but a pattern that can be retroactively investigated.
Awesome job, the two threads that came up with this.
Awesome job, ZeroHedge, for creating an environment where this happens.
I have been wanting to share something with you, but I did not want to sound self righteous-- I donated money for the first time to ZeroHedge very recently. I could not keep showing up here, trolling like I do, cracking jokes, asking questions, and not contribute something financially.
I am a cheap bitch.
I don't trust anyone. I only give when people in need are in front of me and I have control of what happens next (and even then I have been ripped off).
Even after the donation I am not sure if they got it (my first time doing paypal, okay?).
But just this moment, I know I have done the right thing.
I hate being fucking solicted, it makes me not want to contribute.
I am asking you to join me, give something, please. All of us are assholes goofing off here, but damn it, I'm happy just this moment. My money is helping this happen.
Fuck FDIC
Fuck SEC
Fuck the Fed
Fuck our sold out legislature
Fuck the bought and paid for administration
Fuck our weak assed Judicial branch
Fuck them hard
Help these folks do what they are doing.
Join me. Please donate. Marla says stuff, but they can't be pushy and annoying or they will drive you off (like the soliciting that goes on at other unnamed financial sites).
I gave out of love, it felt good. Tonight, my trust has been validated.
on Sat, 12/05/2009 - 10:13
#153833
+1
I swear I would post more, but since MsCreant keeps reading my mind and posting my precise thoughts before I can, it's a lot easier just to sit back and read :)
on Sat, 12/05/2009 - 12:04
#153894
Ditto
on Sat, 12/05/2009 - 12:48
#153935
Thank you both for the love!!
on Sat, 12/05/2009 - 12:57
#153939
I love your fire and tenacity MsCreant....keep on pressing.
on Sun, 12/06/2009 - 06:45
#154359
MC,
ZH has been the recipient of the only donation to anything or anybody I have made since March. It wasn't big due to employment situation but this site is doing fantastic work and I needed to do my part to support.
On a note more related to this post/article, I would not be surprised if the SEC was served up as a sacrificial lamb in 2011/2012 for Obama to attempt to get re-elected. I mean you have to try very hard to do as little as the SEC does in discharging its duties. Depending on how angry the citizenry becomes at their lack of action, again, this agency could very well be sacrificed to help O try to win re-election (kind of a "see, I'm rooting out corruption and inefficient government" thing).
on Sun, 12/06/2009 - 09:49
#154402
That's an interesting thought. I can't help but think that concept would be more warmly received by the public when coming from Obama's opponent, thought. Given all that's happened on Obama's watch already, how much political capital will he be able to salvage with respect to financial and economic policy? It's of my opinion that the economy (or lack thereof) will still be the largest issue facing voters in 2012, and how many rabbits could he have stuffed up his hat to impress voters with to win a second term?
on Sat, 12/05/2009 - 07:15
#153777
And he or she will be among the Dead Kennedys within days of POTUS candidacy.
on Sat, 12/05/2009 - 09:56
#153819
No shit. Did you just come to this conclusion? The smart money KNOWS the USA is going down.
Once a society reaches a tipping point, it never recovers. Democracies always fail, exactly in this manner. The PTB want/need stupid/uninformed voters - promise them anything and deliver nothing. The electorate reached 52% last year; California went over the edge a generation ago.
If you expand the voting base to the point where the median IQ is somewhere between 90-100, what possible chance to they have against those armed with 140+? Answer: none, -0-, nada. Our only hope was dependent on virtue - mercy by our leaders not to screw us over - hence Francisco's speech in Atlas Shrugged.
But once they make the decision to loot, there's nothing you or anyone can do to stop it. (If you thought you could effect change, how come no one outside the blogosphere knows and/or cares?) They have the force of law + popular mandate, ie the very definition of a democracy.
ZH seems to attract people who are incredibly naive - its primary utilization should be one that incentivizes even more fervent preparation. Stop watching/discussing the coming storm and begin battening down the hatches.
on Sat, 12/05/2009 - 12:10
#153898
Call me un-American, call me anything you like. But I believe you DON'T HAVE THE RIGHT TO VOTE if you recieve more from tax benefits than you pay in taxes. It's a conflict of interests.
on Sat, 12/05/2009 - 12:11
#153900
Speak for yourself, Worthless Dog.
You can say that anyone here is naive and incapable of understanding what is really going on but I find your comment absurd on its face. When it is my own mother sending me emails about the rampant shenanigans going on in Wall Street and Washin'DC, I know for a fact that the truth is getting out, however slowly. I get attachements to people at her quilting club, for chrissakes! The quilting club! Hello!
When little old ladies sit around and discuss the financial blunders of our "leaders," you know as well that someone somewhere with the power, ambition and the huevos to do something about it is loading their shotgun. Sure, these ladies are mostly unsophisticated, home-spun women who wouldn't know CDS from CRE- but to call that attitude "naive" does no justice to the fact that they know inherently something is very, very wrong here.
It also does no justice to sites like ZeroHedge that educate the sons and daughters of these women and allows them to more readily inform quilting clubs and scrapbook gatherings about what is really going on in this country. When I get my attachments back three days later with beaucoup names in the address bar, I know this information is getting out and is spreading everywhere all the time.
So, take your 140+ IQ and go talk to yourself in a mirror. You seem to be your biggest fan.
Now, if you don't mind, we all have work to do in trying to get this information out. If you're not going to help push the wagon, then at least keep your paltry and condescending comments to yourself.
on Sat, 12/05/2009 - 12:47
#153934
That totally kicked ass. Thanks. I have a feeling the poster in question means well (wants us all to batten down), but what you said, needed saying.
on Sat, 12/05/2009 - 23:34
#154257
@B9K9
I agree with a good amount of what you have said, and I believe that I understand the points that you're trying to make.
The very idea of a community invites a congregation of like mindedness (including ZH). I also agree with you that civilizations reach a tipping point (see- Akkadian, Roman, Mongol & British Empires, to name a few) from which they simply do not recover. Given domestic problems in the U.S., matched with an emerging Asia, I feel it safe to say we are witnessing the beginning stages of the fall of the American Empire, as well.
I also agree with you that strong words met with weak actions are useless. Having said that, your are very pointed in your comments, and on top of stating your contrary perspectives, I hope to see you continue to develop them more going forwards.
I believe we ultimately learn more by focusing on what we DON'T want to listen, then asking questions, as opposed to focusing on what we DO want to listen to, then patting each other on the back afterwards. In short, we would all be better served asking follow up questions to comments we disagree with, as opposed to engaging in endless bashing and unnecessary confrontation.
Keep up your contributions.
on Sat, 12/05/2009 - 11:09
#153867
Totally agree, Kurtz. Elliot Spitzer for...ah, fuck. Sorry.
on Sat, 12/05/2009 - 12:49
#153936
Sad, ain't it?
on Sat, 12/05/2009 - 13:43
#153963
Another example of how our middle-class morality is used against us. Anyone who might challenge the status quo can be easily discredited as being "too human."
on Fri, 12/04/2009 - 22:11
#153573
Hang them all, let God sort them out.
Tien Kou
on Fri, 12/04/2009 - 22:15
#153577
looks like fdic sheila has six new wards today....did someone mention that before?
on Fri, 12/04/2009 - 22:19
#153580
It is officially a wild-west casino on Wall Street.
I'M PISSED!!
on Fri, 12/04/2009 - 22:23
#153590
Im in on the plan to pull cash out of the system. I want the whole thing locked down. What is unbelievably bad, is that I work for a big bank. Do you realize how impossible it is for you to have absolute hatred for the whole system, and then my entire day involves that same very system. NOTHING SEEMS RIGHT ANYMORE. As an aside, Tiger Woods Advertisers are supporting him through his ordeal. SUPPORTING?????? WTF. This isn't your parents America. Go to sleep now so you can wake up at midnight so you can go buy your new 5 thousand dollar Playstation 5.
on Fri, 12/04/2009 - 22:23
#153592
Thanks for posting this, I am glad there is at least one spot in the universe that cares about the rampant corruption in our system.
Though I am sure someone will come along and say "oh, but it was just a calendar spread, nothing to see here" or some other such bullshit.
on Fri, 12/04/2009 - 22:24
#153593
Fed up taxpayer is fed up.
on Fri, 12/04/2009 - 22:54
#153621
Fed-up w/the FED!!!!!! WE ARE
on Fri, 12/04/2009 - 22:25
#153594
Wouldn't it be interesting if the government is not only sanctioning certain instances of insider trading but choosing the participants? Wouldn't that be a way to help certain institution's balance sheets?
on Sat, 12/05/2009 - 12:25
#153908
That is exactly what it sounds like to me. Seems like now the hyper-underfunded SEC needs to desperately raise cash, so they are making money on the ramp-job, pre-announcement.
I am just so certain that this has to be illegal activity. Someone somewhere, please pull the trigger on this scam!
on Fri, 12/04/2009 - 22:36
#153608
yeah people, wake up, the government is totally in on this.
Quis custodiet ipsos custodes?
i used to assume the US was on the right side on most issues, but I have come to believe our government really is the evil bastard some people/countries think it is. Guess I should never short this market, it isnt exactly a level playing field
on Fri, 12/04/2009 - 22:50
#153617
Slag, skank.
on Fri, 12/04/2009 - 22:51
#153618
Tyler:
Standing Ovation on this article!
Thank you.
I have addressed President Obama in a most respectful fashion on numerous occasions on these pages imploring him to terminate Ms. Schapiro from her position due to her incompetency as well as my suspicion (amongst many others) that her independence from Wall Street is sorely lacking and her lack of aggressiveness towards seeking out illegal activity is stunning. Her approach towards Bank of America with the proposed settlement of $33 Million is one for the record books.
So, I'm going to cut out the Mr. President formality shit and just say this:
Listen Barack, frankly I don't think you understand that well the whole economic, finance game, which is cool because that is not your career background, just like you aren't a brain surgeon either. The problem all of us in America have is that you got the same group of vipers that caused this phucking mess running the show still. That group is Bernanke, Summers, Geithner and so many Goldman Sachs players in key positions in the US Gov't (and elsewhere) as well as the CEOs of other too big too fail banks.
Here's the deal Barack....these guys are taking the USA down the phucking tubes and we are getting to the tipping point. You really need to shitcan these assholes and bring in a different set of people and you need to do it NOW. Maybe you were sincere when you campaigned about "change" and "transparency", but these guys have scared the shit out of you with their "the world is going to end" scenarios and they are taking you and the United States of America to the cleaners.
If you don't do something about it soon, we are phucked. It's that simple, basic mathematics don't lie and moreso, a federal government built on collusion, fraud, lies, and confidence games is going to tumble into the shitter of history.
on Sat, 12/05/2009 - 00:03
#153664
fogettabout hussein--he's on the other side.
on Sat, 12/05/2009 - 00:42
#153685
Works for me. Where do I sign?
on Sat, 12/05/2009 - 17:57
#154094
Its not him move on
Nine nine nine not six six six
Nothing to see here
on Fri, 12/04/2009 - 22:53
#153620
I thought all of you knew the game was rigged the day they slammed two airliners into the world trade center and then brought the buildings down with explosives, including building 7 later that day.
I thought all of you really KNEW, really UNDERSTOOD how EVIL the people behind this ARE.
I thought you understood you are dealing with DEMONS, real DEMONS.
I know I am.
-MobBarley
on Sat, 12/05/2009 - 10:10
#153828
No clue on November 22, 1963 when they raised their hand in Dallas? The perp they nailed said he was a patsy, and JR of Dallas sealed the deal...he came in through the timely as was rarely unguarded door in police headquarters. 9-11-73, 2-26-93, 9-11-01 busy, busy..no Betsy Ross making these false flags.
on Sat, 12/05/2009 - 12:40
#153921
It is about fucking time that we are all coming to realise the breadth and depth of this evil scheme. It has all come full-circle.
America was hijacked 24 days after my birth and the repercussions of such an event has finally come to a head.
Johnson
Harriman
Bush
Bush
Bush
Clinton
Clinton
Nixon
Kissinger
Brzezinski
Bush
Obama
Felix Rodriguez
Al Gore
There's your "string of pearls," people. There is a clear timeline and a clear motive. Let's finally call this what it is: An American Coup.
It is time to get our country back.
Here is a link to a photo that explains everything in very, very simple terms:
http://www.jfkmurdersolved.com/bush2.htm
See for yourself...then connect the dots. You don't need to be a genius to figure this one out.
on Fri, 12/04/2009 - 23:05
#153626
What do bank failures mean? Why do they happen?
Well now, this is how it works.
1) Big banks like Goldman and elites in Washington oversee the process via SEC, Treasury, FDIC.
2) They pick banks that "must close"
3) They take the good assets and customers and bank accounts divide among themselves.
4) The bad loans get stuck with the taxpayer.
on Sat, 12/05/2009 - 10:13
#153834
Darwin called it survival of the fittest. The big fish have already gotten away. Those you see are stuck monkeys with their hands still in the jar.
on Sun, 12/06/2009 - 14:20
#154558
In this case it is survival of the BIGGest. That's quite different from Darwin. Goldman Sachs wouldn't survive more than a month or two in a FREE MARKET. Indeed, they would ALREADY be out of business.
on Fri, 12/04/2009 - 23:06
#153627
Tiger endorses GM. Then GM goes bankrupt. Tiger endorses golf. Golf tv, golf courses, golf sales are totally bust. Yet he still receives endorsements. This is America folks. Ass backward. Good luck.
on Fri, 12/04/2009 - 23:15
#153636
Tiger endorses GM. Then GM goes bankrupt. Tiger endorses golf. Golf tv, golf courses, golf sales are totally bust. Yet he still receives endorsements. This is America folks. Ass backward. Good luck.
on Sat, 12/05/2009 - 09:15
#153801
This would make a great commercial for OnStar.
2:30AM - OnStar receives notification of a crash...
OnStar: Hello, Mr. Woods. This is OnStar. We received an indication that your vehicle has been involved in a crash...are you OK?
Tiger Woods: Yeah, I think I am OK. Where am I?
ONStar: Our systems indicate that you are within 200 feet of your home. Do you need an ambulance?
Tiger Woods: No NO! NOOOO! No police! NO AMBULANCE!...(Sounds of glass breaking)
OnStar: Are you sure? What is going on?
Tiger Woods: YES YES!!! Please send the POLICE!! Send someone NOW! The bitch is trying to kill me!! (Sounds of glass breaking again)...
OnStar: OK. I'll stay on until they arrive.
Tiger Woods: Sorry, gotta' go.....
on Sat, 12/05/2009 - 10:15
#153836
I just spewed coffee on my shirt, thankfully you caught me on a machine washable day :)
on Sat, 12/05/2009 - 00:19
#153670
Someone made a run on the futures AND pushed UP the stock at the same time. Not an easy thing to do if you think about it.
Meantime, someone else is LOSING a lot of money on the other side of this deal. IF I were the seller, I would file complaints with the SEC. Preferably on TV!
Yes, the first reaction of some would be boo hoo you lost out, but then the fraud of it all would hit even the crack team of experts on cnbc.
on Sat, 12/05/2009 - 00:47
#153688
Let's just cut to the chase. When is somebody going to start a magazine called "Insider Trading News". It can have a column sponsored by Goldman, one by JPM and it can be underwritten by the FDIC.
Tim & Ben can host a Q&A section at the beginning of each issue.
December 2009 Man Of The Year? Bernie Madoff of course.
Why fight it? Profit from it!
on Sat, 12/05/2009 - 00:51
#153692
Some parties are approved for insider trading and some aren't .
Mary's job is to protect those who are.
on Sat, 12/05/2009 - 16:50
#154051
It's some more of that "doing God's work" business, I guess.
on Sat, 12/05/2009 - 02:17
#153731
Just had a look at it.
Interestingly it is an inverted head and shoulders pattern on the daily chart. (very bullish)
Target is $ 13.05
on Sat, 12/05/2009 - 02:33
#153733
Zerohedge should host costume parties... so we can all meet and discuss things, but anonymously.
on Sat, 12/05/2009 - 16:56
#154055
Oh. Bad idea.
Because if we did that, then despite the costumes we'd right away discover that everyone here knows each other already and half the party would then be forced to arrest and/or bribe and/or have sex with the other half.
And I am NOT doing -- well whatever happened -- with DeadHead and MsCreant and that other guy from that agency -- twice in the same week!
No.
cougar
on Sun, 12/06/2009 - 03:00
#154226
Yes.
How do we organize/coordinate/orchestrate to act on everything we are discussing on Zerohedge? Something beyond "call your Congressman" is going to require lengthy conversation.
on Sat, 12/05/2009 - 02:38
#153734
Has this got any attention in the media yet?
on Sat, 12/05/2009 - 02:46
#153738
Interesting speculative short piece for night owls to read:
They're Going To Kill The Fed
http://www.silverbearcafe.com/private/12.09/killthefed.html
This thought has appeared in many publications, perhaps many of the sites are an echo chamber of our collective consciousness.
on Sat, 12/05/2009 - 04:32
#153759
i had this thought today that what happened in north korea this week is kim il jong's sadistic way of telling the west he knows what they're up to.
on Sat, 12/05/2009 - 04:50
#153762
Small scale test to see what would happen, governments around the world taking notes on the reaction? That is a wake up call, it could happen here as it has in the past.
We would lose all credibility however if we follow the path of Zimbabwe and North Korea, the comparison would kill government credibility and indicate we are in a collapse. I am sure North Korea declared the equivalent of martial law and they require a police state to enforce law and order.
on Sat, 12/05/2009 - 10:17
#153839
Kim just needed more bang for his won, heck, he makes his own. Good exercise for the elite police.
on Sat, 12/05/2009 - 10:23
#153844
maybe he's just fuming cuz all his counterfeit FRNs are declining in value
on Sun, 12/06/2009 - 14:21
#154560
Re: They're Going To Kill The Fed
Like the "USA to create 'bad bank' to save financial system from collapse" strategy discussed early on? Our dear CB itself?
on Sat, 12/05/2009 - 02:47
#153739
Hey doods, just what were you expecting - that this is Switzerland or Singapore?
The corruption and "crony-as-in-phony" capitalism that constitutes our "system" is enough to make the Phillipines, Mexico, Indonesia and Nigeria keel over with laughter.
It's OK when some banana republic like Guatemala or Honduras embraces phony-crony capitalism, but it's NOT OK for the "leader of the free world" to do it, for the simple reason that there is no one powerful enough to stop it.
"Nemo custodiet ipsos custodes".
If this were Russia, Ms. Schapiro and her buddy LB (along with a number of their pals), would be hauled into the Lubyanka for "questioning" - not for stealing, but for doing so publicly.
In some countries (including the USA), officials and the highly-placed are expected to steal, but they must always be careful to do so out of sight of the masses, so as not to embarrass the "regime".
Here, the officials and the rich steal brazenly and openly and dare the "sheeple" to do something about it.
Well, if things go to shit, just remember a few things - there are more of US than there are of YOU, and by and large we are much better armed,trained and equipped in terms of firepower than you are. And since you made the fatal mistake of excusing the "upper classes" from serving in the military, I wouldn't trust them to come to your defense.
And your "Private Security"? They'll run away when confronted by tanks and armored personnel carriers in the streets. Handguns don't stand a chance against .50 cal. or 120MM smoothbore.
Yes, I know - your money and connections guarantee your immunity. Well you know, that's what Louis XVI and Marie Antionette thought too. But Mary and Lloyd, unless things get turned around here real quick-like, we're going to party like its 1789 again as you two and many others have that "close encounter of the last kind" with the national razor.
KptLt. laughing swordfish
9er Unterseeboote Flotille
on Sat, 12/05/2009 - 12:31
#153911
Probitas laudatur et alget
on Sat, 12/05/2009 - 03:06
#153742
The FDIC is out of control -- Bair should be fired. Her actions last year re WaMu need to be investigated as she had no basis for the actions she took. The gov't-wall street cartel has screwed the rest of this country. INVESTIGATE THE FDIC NOW!!!
http://seattle.bizjournals.com/seattle/stories/2009/12/07/story1.html
on Sat, 12/05/2009 - 04:07
#153757
Tyler..why are you disturbing Mary on her day off? cant she enjoy her millions and have a relaxing day at the all paid club...no seriously..!
on Sat, 12/05/2009 - 04:43
#153761
This is great for economy,great for markets...they will do NOTHING to stop this,,,
on Sat, 12/05/2009 - 07:07
#153776
MsCreant:
Word.
This site is truly amazing. Is it any wonder that main stream media hates this site? They can't control the message. This is one of Tyler's greatest articles. The question is whether the SEC will actually do anything.
on Sun, 12/06/2009 - 14:19
#154556
And the answer is hell naw.
on Sat, 12/05/2009 - 07:29
#153781
The FBI, who has been almost solely dedicated to war on terrorism for last decade, seems to be doing a way better job of chasing insider trading than SEC, who supposedly is solely dedicate to insider trading. We should put special agent B.J. Kang in charge of SEC. He got Galleon and will get SAC....what is SEC doing...still haven't heard anything about the bear-sterns heist...
on Sat, 12/05/2009 - 07:47
#153782
It's apparent that our gov't is not only condoning insider trading and fraud, they are perpetrating it. How do we stop this? Are we not above the government? Can we demand Congress not just audit the Fed but to investigate the SEC as well?
Maybe a coordinated bank run would help them understand that taxpaying Americans have had enough?
on Sat, 12/05/2009 - 07:48
#153783
BTW, Martha Stewart reads Zero Hedge and man is she pissed!
on Sat, 12/05/2009 - 08:33
#153791
Dec 5, 5:27 AM EST
Obama shifts Copenhagen trip as prospects brighten
http://hosted.ap.org/dynamic/stories/O/OBAMA_CLIMATE?SITE=NEYOR&SECTION=HOME&TEMPLATE=DEFAULT
on Sat, 12/05/2009 - 20:22
#154166
"It also means that Obama will be squeezing in a separate, 10th foreign trip before Christmas - a record pace of travel for a first-year president - as a means to giving momentum to a deal aimed at combatting global warming."
...travelling all the globe spewing jet fuel emissions into the atmosphere to help combat global warming...this is all rapidly moving beyond farce at this point
on Sat, 12/05/2009 - 23:42
#154270
Air Farce One-- rapidly exporting US hypocrisy and thievery across the planet.
on Sat, 12/05/2009 - 09:05
#153797
Cook-booker vs. Book-cookers
on Sat, 12/05/2009 - 09:41
#153808
Bloomberg has begun its integration of Business Week Magazine, which hosts numerous "corporate" blogs - I guess they canned one blogger but he managed to get a portion of his final post put up before they pulled the plug
Farewell Posted by: Steve Hamm on December 01
Today is my last day at BusinessWeek, and I got shut out of the corporate Intranet when I was in the middle of posting the last blog item. Seems fitting. (I got back in via a friend's log-in.) I'm going to continue blogging on my own at Globespotting.net. I hope to see you there.
edit (I guess they canned a bunch of them on Dec 1)
Good-bye to Blogspotting (Moving to TheNumerati.net) Posted by: Stephen Baker on December 01
Twenty-three years ago, when I was a general assignment reporter at a soon-to-be defunct paper, the El Paso Herald-Post, I got a fabulous job offer. BusinessWeek asked me to open a bureau in Mexico City. If you had asked me at that juncture what a board of directors was for, or to distinguish between revenue and earnings, I would have been stumped. I had never covered business before (unless you count oil in Venezuela), and I didn't know much about it. But BusinessWeek, I soon learned, was chock full of knowledgeable, friendly and forgiving folks who helped people like me learn on the job.
on Sat, 12/05/2009 - 09:54
#153821
If they put as much effort into ramping employment as they put into ramping the markets, Obama's approval ratings might not be plummeting.
on Sat, 12/05/2009 - 17:04
#154058
They'll get around to that.
Get rich first, then hire someone to walk your dog.
Wait -- were you thinking factory jobs or something? Oh you are a funny guy.
on Sat, 12/05/2009 - 09:57
#153822
Dec. 1 (Bloomberg) -- “I just wrote my first reference for a gun permit,” said a friend, who told me of swearing to the good character of a Goldman Sachs Group Inc. banker who applied to the local police for a permit to buy a pistol. The banker had told this friend of mine that senior Goldman people have loaded up on firearms and are now equipped to defend themselves if there is a populist uprising against the bank
I'll take Billy Ray in Alabama over any executive at Goldman Sachs. There's only one way this will end and it's going to be ugly.
The blatant lying won't stop, it's only going to get worse. These silver-spoon fed boys have no survival instincts, they think their AMEX cards can buy them out of trouble. WallStreet and Washington are the biggest mafia that ever roamed this earth.
on Sat, 12/05/2009 - 10:04
#153824
TD has become the party pooper. Let us see if they manage to catch the perpetrator in two days like they did with the Iranian guy in the Perot case.....
on Sat, 12/05/2009 - 10:09
#153829
The SEC has always turned a blind eye to insider trading, especially amongst the elite Wall St pigmen. True, it may be partly due to the sheer ineptitude evident amongst it's staff, who for example were handed the biggest ponzi scheme of all time on a silver platter and could do nothing but give it a stamp of approval as they had no clue what a ponzi was, let alone how to investigate one.
But no what we're really dealing with in most cases is simple immunity from the law for politically connected too big to fail companies. The SEC always employed the strategy of rounding up a few small fry, the author of this blog has direct experience of this, to show the masses that they were doing their job. But I think in truth they've given up even on that.
When the Fed itself is openly and un-apologetically flouting the law, indeed in collusion with the government itself, a few billion sucked up by Goldman or whoever seems a small thing. So the only conclusion I can draw from this is that they no longer care what the masses think, that they've loaded up the lear, have prepared the house in Switzerland and will loot all they can while the going is good hoping to time their exit before Bubba arrives on his doorstep with a 12 gauge and a rope.
on Sat, 12/05/2009 - 10:10
#153830
The SEC has always turned a blind eye to insider trading, especially amongst the elite Wall St pigmen. True, it may be partly due to the sheer ineptitude evident amongst it's staff, who for example were handed the biggest ponzi scheme of all time on a silver platter and could do nothing but give it a stamp of approval as they had no clue what a ponzi was, let alone how to investigate one.
But no what we're really dealing with in most cases is simple immunity from the law for politically connected too big to fail companies. The SEC always employed the strategy of rounding up a few small fry, the author of this blog has direct experience of this, to show the masses that they were doing their job. But I think in truth they've given up even on that.
When the Fed itself is openly and un-apologetically flouting the law, indeed in collusion with the government itself, a few billion sucked up by Goldman or whoever seems a small thing. So the only conclusion I can draw from this is that they no longer care what the masses think, that they've loaded up the lear, have prepared the house in Switzerland and will loot all they can while the going is good hoping to time their exit before Bubba arrives on his doorstep with a 12 gauge and a rope.
on Sat, 12/05/2009 - 12:31
#153912
As in every mob, each rung up the ladder is by daily vetting. They issue SEC people microscopes to terrorize the microbes; the macro scene is way-out of focus. When they try to go there they find they go to bed with Cindy but wake up with Broderick, Crawford that is.
on Sat, 12/05/2009 - 11:27
#153845
CNBComcast endorses Obamacare
http://www.politico.com/static/PPM143_091203_wh_healthcare_letter.html
on Sat, 12/05/2009 - 12:27
#153909
Well gee Mr. Roberts. I thought the ablity bill people for stuff they didn't order or buy. Constantly overbilling and mistake billing and teaching your customer service to be a wall of indifference and assertiveness to the correctness of the bullshit you all do was the path to your prosperity and sustained growth. Cause it's not like you an google comcast billing mistakes and not get a 10,000 freaking hits that lead to 100,000 freaking disatified customers.
You fucking shit stained piece of underwear.
on Sun, 12/06/2009 - 02:58
#154327
Looks like B. Roberts and J. Immelt had a little "sit down" before closing their deal.
on Sun, 12/06/2009 - 14:22
#154561
Excuse me while I go barf. Evidently, Obama playing a role in making sure COMMUNISTcast can take over more and more business.
on Sat, 12/05/2009 - 11:08
#153866
Dont blame shapiro. She is just another american idiot from the moron capital of the world: harvard.
on Sat, 12/05/2009 - 11:11
#153869
Of course comcast endorses obama. GE is the largest beneficiary of the bailout; they are bust and bankrupt beyond imagination. (What else would you expect from Jackie Welch?) GE via CNBC is the de facto spokesman for Washington. Hence the stipulation is that CNBC's new owner must maintain the Obama agenda.
on Sat, 12/05/2009 - 11:18
#153873
You mean Bloomberg is also part of the obama shapiro blankfeinrubin bernhake greenspan blankfein bair, baroksky soros hank grenberg ram emmanuel axelrod summers orszag mort rubinstein sulzberger sam zell mafia? How could anyone guess this? You have to be a real investigator.
on Sat, 12/05/2009 - 11:24
#153878
Comcast CEO, Brian Roberts, is also a board member of the bank of new york. Coincidence? conflict of interest? As NBC/GE have received 300 billion line of credit from the US Treasury. Is it surprising that they endorse obama?geitner?emmanuel? Roberts is apparently a wonderful man as he is also a board member of the wiessenthal association. Separation of church and state?
on Sat, 12/05/2009 - 11:31
#153881
So the new york media is now controlled by bloomberg, sulzberger, mort zuckerman , brian roberts(comcast, nbc,etc) jason greene(Observer). Now thats diversity folks. Speech of speech? Reminds of Stalins old gang.....
on Sat, 12/05/2009 - 12:10
#153899
Sigh, I spent a lot of money and time to pursue the american dream, I believe the time is near to move back to Canada. The rampant lies, deceit and corruption, not to mention the stoic march to socialism is all I can bear. Whatever has become of this once great nation, too many sheeple, not enough time.
on Sat, 12/05/2009 - 12:21
#153905
Further evidence that the Chicago Mob now rules the world...
Fuck it. Let it burn
on Sat, 12/05/2009 - 12:42
#153926
Mob rules dollar move
S E C complicity
sad sad sach no shame
on Sat, 12/05/2009 - 12:46
#153932
Poor Martha Stewart.
She was off by a number of years.
on Sat, 12/05/2009 - 17:08
#154063
Wouldn't have saved her. They like to burn the little people.
on Sun, 12/06/2009 - 04:49
#154345
If they don't set you up and jail you they michael jackson your ass or pump you full of drugs like Elvis and then enjoy the extra profit that comes from you being a dead artist. Good thing she is worth more alive than dead.
on Sat, 12/05/2009 - 13:00
#153940
Interesting analysis on the value of the bank assets w/r/t FDIC loss sharing agreements. (First letter to Jim Sinclair)
http://jsmineset.com/
on Sat, 12/05/2009 - 13:03
#153943
HHow can they not catch these fools? The problem however is bigger. Ever since 1987, evert time the financial system got into trouble the Fed just lowered interest rates resulting in a transfer of wealth from savers to banks. THen the bank employees pay themselves tons of money. Now that rates are at zero, the final transfer will be the largest.
on Sat, 12/05/2009 - 13:25
#153952
O Tempora, O Mores.
on Sat, 12/05/2009 - 14:05
#153967
We need to form a citizens Grand Jury to indite these criminals because our government refuses to do the job we hired them to do.
Citizens Grand Jury - Speech by Gerry Donaldson
http://www.youtube.com/watch?v=4cE0RZo8DcU
American Grand Jury
http://americangrandjury.org/obama-kenya-birth-registration-dr-orly-taitz
on Sat, 12/05/2009 - 14:22
#153979
There is a long way to go to get the word out about the corruption of Wall Street and the revolving door of their power and dominating control of Washington.
on Sat, 12/05/2009 - 14:23
#153980
I'm doing my part and taking opportunities to explain whenever I can.
on Sat, 12/05/2009 - 14:29
#153982
Shapiro is just another stooge. A degradation of regulation started way before NoObama. You can thank McCain,Barney Frank,Dodd,Clinton,Bushes,Reagan,Greenscum and der Rubinski. It will take years to rebuild the braintrust and competence. People in charge now are flat out mediocre
on Sat, 12/05/2009 - 17:16
#154069
The stooge could suffer some consequences so that other potential stooges would think twice about stooging about the joint!!
on Sat, 12/05/2009 - 14:57
#153990
While I am in complete agreement regarding the insider trading accusation(s), I think the phrase "TLGP umbilical cord" for NYB paints an inaccurate picture. NYB is a (relatively) healthy bank and would be a survivor, regardless of the AmTrust "gift" or TLGP. They declined TARP, and would of been stupid not to use the TLGP program to issue debt. Their capital ratios are (relatively) low, but it is a result of paying out well above earnings or CFO in common dividends, i.e. bringing their ratios to a more conservative level would simply require earnings retention. Asset quality is good with over 70% of loans comprised of multifamily structures in NY and NJ with conservative LTV ratios, rent control, etc. Look through their investor presentation to see how asset quality compares to peers - it is pretty remarkable. While I do not own common shares due to valuation (DUE TO intangibles), I do own related trust preferred securities (HAVNP) which I purchased earlier this week.
on Sat, 12/05/2009 - 15:01
#153991
SAVE US from the "Regulators"!!!
How SICK is it that they are the most CORRUPT force of all?!
on Sat, 12/05/2009 - 16:21
#154034
I find all of these "If this keeps up it will destroy the country" statements ironic. The US you are speaking of is already dead, the country that my forefathers fought for is dead. Eat shit and smile, because there is no way any of you are going to do what's necessary to stop these criminals. (violent revolt, tax revolt, social unrest at the expense of a job and standard of living) So.... really, just shut the fuck up.
on Sat, 12/05/2009 - 17:18
#154070
I've got a couple dozen nukes to tell the rest of the planet we have other plans in mind regarding their NWO.
on Sat, 12/05/2009 - 17:27
#154075
So why the fuck do you bother to post here? Hmmm.... could it be you like "give a shit" or something?
You point the finger at us, what are you willing to do?
If the rules were followed, we'd have a decent system. Some changes are in order, like no lobbying, no campaign contributions, term limits, stuff like that. Some rules have been repealed that need to be put back in place. RICO and Anti-trust laws enforced (enforcement is the problem). There just isn't anyone at the helm.
Good people need to run for office, but as things are now, they can't get in. That is the problem in a nutshell.
Wishing you the best. Your contempt is understandable.
on Sat, 12/05/2009 - 17:38
#154080
Thanks Ms Creant. I do give a shit. I was the organizer for the Ron Paul Meetup groups in my area and have not stopped working since then to make our country a better place for all. We should have taken the good doctors medicine back then, but now the complete and total economic collapse of the USA will be five times worse. Oh well, but whatever it takes to keep our rights and our Constitution, I am willing to sacrifice.
on Sun, 12/06/2009 - 00:22
#154290
It's a good blog with sharp informed articles, and sharp informed people.
Never said I didn't care.
I'm willing to do what it takes. Shall I make myself a target on a public forum?
If is the biggest of small words.
Good people do run for office, good people (unpurchased people) do not win office.
Yes, my contempt is understandable. Until the American populace, or at the very least a significant minority, is willing to go to the mat nothing will happen. Spreading the gospel by telling people they are ignorant, taking your few piddling dollars out of a TBTF bank account, blogging, and writing the corrupted representatives ain't going to cut it; sorry.
on Sun, 12/06/2009 - 01:28
#154316
Agree 100%, with extra emphasis on actions over words.
on Sun, 12/06/2009 - 03:24
#154335
You don't even see it as a start? I get support here, information and ideas. Emotional support too.
I have a garden instead of a front lawn. Lots of people stop to talk to me when I work in my garden. The garden is my start for training myself to be more self sustaining.
I teach my child about this stuff. He gets it. He is not a big "consumer." Saves his money.
I paid all debt, and have few expenses. My hubby and I have one econo car, we walk to a lot of places. I walk to work and we work from home.
I have saved up over a year of pay, in case I lose my job.
I have neighbors who know what is up and they are planning for a crash. Each is ready in different ways.
I have students who I do not tell them that they are ignorant, but I do tell them that we have been had. I show them with charts and graphs. They get it. They can't get jobs, they can't move out and onward with their lives. They like being able to talk about it openly and why.
I have taken my money out of the system as much as possible.
I have published in very esoteric outlets regarding these topics. I am currently in trouble at my job over it. This is the start of those mats you speak of, I think.
Yeah, I also call and email congress critters. I know it is a waste.
I guess I'll wind this up by saying I don't do enough, but you don't know who does what. It is not normal to tell you everything I just told you, so how would you know? More may be going on than you think with people after they comment and read here. But every other day, I am hopeless too and think the rot is so deep we can't touch it even if all of us had the very best of intentions consistently. But if I do that, I close my mind and my heart to the possibility that we can do better.
I don't want to be closed. I might as well not be alive.
You are not a target to me. You seem like me, every other day. Maybe I should just type this to myself?
on Sun, 12/06/2009 - 12:06
#154458
"Good people do run for office, good people (unpurchased people) do not win office."
for anyone who believes this country's institutions are still worth saving, this is a hypothesis that should be put to the test come next november when every single house seat is up for grabs.
all the tools needed are right there at your fingertips.
and the citizenry are more motivated & educated than ever before.
this is one idea (but perhaps too partisan to cross ideological lines):
http://kickthemallout.com/
of course, the key to success in this endeavor is not only to fire the purchased people but to find those who are not willing to be purchased.
on Sat, 12/05/2009 - 16:27
#154038
Ok..You post these manipulated stories often in hopes I guess that the SEC will take action?
Well do they? Are you pounding down their door? Is anyone? Or do we just read this for our own personal enjoyment and then move on?
I sure would like to know if action is warranted if then, its actually taken?
on Sat, 12/05/2009 - 18:59
#154111
Ok..You post these manipulated stories often in hopes I guess that the SEC will take action?
I cannot speak for ZH but I'll comment on your thoughts. I'm not sure what you mean by "manipulated stories" but it has been pretty evident since the days before the USA Revolutionary War movement that the press, i.e. written and verbal communication amongst citizenry, has as an objective bringing to public light matters that may have criminal repercussions. I believe the objective of this post is not only to "hope" that the SEC takes action but it appears a demand for such action.
Well do they? Are you pounding down their door? Is anyone? Or do we just read this for our own personal enjoyment and then move on?
ZH does pound on doors and they have published on a number of occasions their specific activities in regards to filing FOIA requests, memorandum to the SEC, requests of the Justice Department, correspondence with Members of Congress. I suspect the volume, nature, and targets of correspondence extend past what I have listed.
I can state with confidence that many who read ZH take specific actions similar to those noted above and not all simply read this site for personal enjoyment and then move on, not that there is anything wrong about that, to each his own. Those that "read only" here will at least have the opportunity to further their knowledge taking advantage of the thoughts and ideas shared by a wide community of pretty smart characters.
I sure would like to know if action is warranted if then, its actually taken?
In this case, any person with even a remote understanding of and experience in the financial markets would be very hard pressed to say investigative action is not warranted upon an examination of the common equity action of NYB as well as the call option action. You ask if action is "...actually taken" and that would be up to the SEC, possibly the FBI.
If you would like to increase the odds that action is taken, you may want to consider contacting the SEC yourself. This is the direct link to file a tip or complaint with the SEC if one feels a violation of the US Securities Act has been violated:
Tips - Report a potential violation of the securities laws directly to enforcement@sec.gov.
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