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Save The World?

Submitted by Leo Kolivakis on 07/02/2011 21:44 -0400

It was a gorgeous day in Montreal so I spent the afternoon swimming and
tanning while listening to my tunes. But I did manage to hook up with a
buddy of mine who flew in to close the sale of his house and visit
friends.

My buddy is smart and has extensive operational experience
across manufacturing and the financial industry, most recently managing a
major infrastructure project in Greece which went sour following the
crisis. He has been extremely negative on Greece over the last three
years to the point where he got on my nerves several times. But in the
end he was right, Greece is a basket case and the bailout won't work.

Below,
I'll share with you topics from our interesting conversation on
blogging, bankers and regulation, BRICs, deflation, oil, Greece, the
Greek bailout, ratings agencies, Canada, and lots more:

On blogging:
We began by discussing some of my recent posts. My buddy detected "lots
of anger" in them and told me that I can be more effective by making my
points "more subtly." He added: "I don't care about the Caisse or PSP,
but you don't need to be venomous and you won't change the way they
conduct business. What are you trying to get out of this?" Told him that
I've said everything I've had to say about the Caisse and SARA Fund,
will try to be more constructive, giving these pension funds the
"benefit of the doubt," but I'm flabbergasted when senior public pension
fund managers tell me "they're only accountable to their depositors and
not the public." That just doesn't sit well with me and one of the
reasons I started this blog was because I got fired October 2006 after predicting the
2008 credit crisis for being "too negative" and wanted to sound the
alarm on the pension crisis. So, to all pension funds, I'm going to
remain fair and professional, but don't expect me to only send flowers
your way.
On bankers and the need for regulation: My
buddy is a lot more hopeful than I am that regulation will finally hit
Wall street hard. He said that senior management at BNP Paribas and
SocGen was quietly changed following the 2008 crisis and "it's only a
matter of time before the guys in Wall Street get their due. They gotten
away with shenanigans long enough." His former boss once told him the
story about bankers who went to see Louis the XIV to tell him France was
bankrupt and he couldn't save it. "The bankers all got the guillotine." I
remain skeptical that better financial regulation is on its way and
told my buddy: "they had the perfect opportunity to introduce meaningful
reforms following the crisis and as usual, they pandered to the bankers
and bungled it up."
On BRICs:
We didn't go over all the BRICs (Brazil, Russia, China, India, and
China) but we spoke at length about China. Just like Paul Beattie, who
thinks phosphate will be Canada's next Potash,
my buddy agrees China will continue to grow exponentially in the coming
decades. "Unlike Russia which got its freedom and is now effectively a
lawless country run by mafiosos and oligarchs, or India where class
warfare is getting worse, the Chinese model is focusing on developing
the middle class and slowly nurturing in democracy. China is still a
communist country with a huge military, but their leaders know what
they're doing and won't repeat the mistakes of Russia or India."
On oil, interest rates, and the risk of deflation: While
my buddy agrees with Paul Beattie that China will continue to grow
strongly over the next decades, he isn't sold on higher oil prices or
higher interest rates: "It's not about supply and demand. The Saudis
created the 82 recession, they're not going to repeat the same mistake.
In Greece, right after the government foolishly introduced the petrol
tax, our revenues on the highway project plummeted because people
stopped driving. People will adapt to higher oil prices and that's why I
don't buy that oil will skyrocket or that interest rates are heading
higher. The real danger remains deflation."
On the next financial crisis:
While my buddy is bullish on China and relatively bullish on Canada
(see below), he sees the next crisis and thinks "it will be much worse
than 2008." he added: "In the past, we had a hit to incomes, in the last
crisis, a hit to balance sheets, the next one will be a hit to both
incomes and balance sheets. It won't be a Depression but it's going to
be ugly, especially in Greece."
On the Greek tragedy: My buddy wasn't surprised that the Greek government passed the austerity bill following the showdown at Syntagma.
He said things will calm down over the summer but get much worse next
winter: "Unemployed Athenians will flock to the islands desperately
seeking any job related to tourism, they'll party, drink up, get laid,
but once the summer is over, they'll return to Athens and realize that
reality bites. Once winter sets in and the weather gets worse, emotions
will boil over again in March." I asked him what was the government
suppose to do, not pass the bill and set Greece back 100 years? His
response: "Well now they set Greece back 5,000 years and only prolonging
the agony. If Papandreou had any sense, and did the right thing for the
country and the people, he would have just defaulted, gone
back to the drachma and let the German and French banks take a
substantial haircut (others agree, Greece should default). Instead, he signed a deal with the French, the
Germans followed, but Greece is worse off and they will realize that
they will never balance the budget with severe austerity measures. It's a
fucking disaster and it will only get worse. Partisan politics
destroyed Greece. I think Greeks will castrate all the Greek politicians
who raped and pillaged the country over the last decades. They came
close to it last week and next time they'll succeed."
On the real reason behind the Greek bailout:
My buddy thinks the real reason behind the Greek bailout was to buy
time for French and German banks to clean up their balance sheets.
"They're worried about what comes after Greece, Portugal or Spain? This
thing can easily spiral out of control." Moreover, he added: "I suspect
that French and German pension funds are loaded up with Greek CDS, and
this is the real reason behind the bailout."
On the incompetence and fraudulent activities of ratings agencies:
My buddy and I agree on this point, ratings agencies are a joke. He
didn't mince his words: "They should be shut down. Period. They're
grossly incompetent and the timing of their announcements tells me
they're in cahoots with Wall Street and hedge funds. In your last post
you said Ed Clark, President and CEO of TD Bank is one of the smartest
people in the Canadian financial industry. Want to know why? He doesn't
trust ratings agencies and has his bankers do their own due diligence
rating paper, which is why TD didn't touch ABCP." It looks like the
ratings agencies are up to no good again, trying to wreck the Greek rescue.
On Canada and Canadian politics: My
buddy thinks Canada is "selling its resources cheap" and that the
current taxes benefit Alberta but not the rest of Canada. "Alberta
should understand more than anyone about interprovincial transfers." As
far as Prime Minister Harper is concerned, my buddy thinks "he's
basically a dictator and the country is split under his leadership
because of the effects of partisan politics." I wrote an open letter to our PM
criticizing central control, but also praising him on some initiatives.
As far as Vancouver real estate, my buddy thinks it will continue going
higher but sections are becoming "ghettos of Chinese." I asked him if
he'd like to come back to Quebec, and he said "yes but there are too
many vowels in my name." I shared with him the time I went to interview
for a job at Hydro Quebec and the manager showed me an org chart of his
team and told me: "you see, I got no ethnics working for me." I told
him: "thanks for wasting my time, this interview is over." (Quebec's
institutions have done the bare minimum at integrating minorities at all
levels, it's truly scandalous!)
On asset gatherers vs money managers:
I told my buddy that I couldn't believe Eric Sprott's fund is now at
$10 billion. He told me he's not surprised: "These big funds have an
army of salespeople, they're basically marketing machines. Same thing
happened to Altamira and Frank Mersh. That's why I don't believe in
alpha in money management and think most hedge funds are poor
performers. I have a lot more respect for a guy like Tim Barakett of
Atticus who shut his fund down
once his model didn't work anymore and realized he wasn't going to
deliver alpha than large asset gatherers who focus on collecting management
fees, so he returned the money to investors." Can't argue with him there but mutual funds are even worse.
On my horoscope: I
downloaded this horoscope app on my BlackBerry a while back (don't ask!)
and been sort of hooked on it, mostly to entertain myself. Today's horo
reads: "You have proven someone wrong, Taurus. Someone in your life has
repeatedly claimed that some interest of yours - a goal, a love
relationship, or some important personal pursuit - would not last. And
yet it has. But whatever it is, you
need to examine whether it has lasted because it is truly close to your
heart and a source of passion for you - or you have maintained it
simply to prove someone else wrong. You don't like it when
others claim to know more about you than you know about yourself - most
people don't of course. But you take it more personally. Assess what
has lasted, and decide if it should continue or not - but for the right
reasons."

What does my horoscope have to do with saving the
world? What does any of this have to do with saving the world? Beats me,
but I'm hooked on this song from Swedish House Mafia, Save the World
(see video below), and maybe it will come to me tonight as I drink it up
with my buddies and enjoy the rest of this beautiful day. In the
meantime, enjoy the rest of your weekend, and let's all do our part,
however small, to save this world. It's the only one we got and the only one we'll leave to future generations (after watching 60 Minutes, I recommend you donate to The Global Medical Relief Fund).

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Mon, 07/04/2011 - 07:39 | 1423786 rufusbird

"I suspect that French and German pension funds are loaded up with Greek CDS, and this is the real reason behind the bailout."

Exactly...

Mon, 07/04/2011 - 07:34 | 1423782 Leo Kolivakis

My friend sent me more comments on the questionable practices of ratings agencies:

See Bloomberg article below.

This is an example of how rating agencies have become much too powerful and where the timing of their comments are suspect.

The plan put forward by the French Bankers is a voluntary roll-over of debt with new agreed terms and conditions. There is no default here just an agreement. The interest rate has been clearly set below market but again this is voluntary.

S&P has now stepped into the discussion and put a monkey wrench into the process. By calling this a selective default, they trigger all sorts of negative covenants on the existing debt as well as cross-default covenants on other debt and any covenants on CDS written on the existing debt.

Therefore, the rating agency is now providing an opinion on the definition of a default. They have no business doing this. Default is actually a legal principle and one that only lawyers can opine on based on the specific loan documentation between the Borrower and the Lender.

In my view, the French banks have shown some leadership here and they should be praised for devising solutions that help, perhaps even provide a long term sustainable solution, rather than aggravate.

As you can see, I have to question S&P's motivations because their actions serve no other purpose than to add volatility to the credit markets. Why would they choose to do this? What value are they adding to the debt markets here? Why are they unable to wait until after a deal is struck to assign a new rating on the Greek debt?

The list of institutions that can benefit from this behaviour is quite short. They need to be able to trade on the securities. This is probably a very small subset of hedge funds or investment banks that can actually do this.

I suspect that the existing loan documentation is not clear on the definition of default (which is often the case with sovereign debt). By providing their guidance, they actually provide the foundation for legal claims for the institutions actively trading the debt or instruments associated with the debt.

Is this really the primordial function of credit rating agency? I do not think so.

Cheers

----------------

July 4 (Bloomberg) -- Standard & Poor’s said the debt rollover plan for Greece may temporarily place the country in “selective default” if the French plan allowing bondholders to roll over their debt is implemented.

The French proposal would qualify as a distressed debt restructuring because it offers creditors “less value than the promise of the original securities” and would therefore put Greece in default, S&P said in a statement today.

Europe is inching toward a goal of getting banks to roll over 30 billion euros ($44 billion) of Greek bonds, instead of opening a hole for the official lenders to fill. French banks, with the biggest holdings in Greece, worked out a rollover formula that is serving as an example elsewhere, with two options for bondholders to replace their maturing securities.

“It is our view that each of the two financing options described in the Federation Bancaire Francaise proposal would likely amount to a default,” S&P said in the statement. “But, once either option is implemented, we would assign a new issuer credit rating to Greece after a short time reflecting our forward-looking view of Greece’s sovereign credit risk.”

European Central Bank President Jean-Claude Trichet reiterated last week that the ECB opposes “all concepts that are not purely voluntary” and called for “the avoidance of credit events or selective default or default.” He declined to comment on the French proposal.

Fitch Outlook

S&P would assign a “D” rating to the maturing Greek government bonds “upon their refinancing in 2011,” it added. All debt issues would then “likely” be rated at the same level as the new Greek rating afterwards.

“They are clearly creating a problem with what has been discussed,” said Marc Ostwald, a fixed-income strategist at Monument Securities Ltd. in London. “It’s a risky exercise and it looks from S&P’s perspective that they’re going to take no prisoners on it. It will be a downer for the periphery, above all for Greece, and will give bunds a bit of support.”

Fitch Ratings said June 15 it would probably keep ratings of Greek government bonds above default level if European Union leaders go ahead with plans for investors to voluntarily roll over their debt, while lowering Greece’s issuer rating to “restricted default.”

European finance ministers have authorized an 8.7 billion- euro loan payout to Greece by mid-July, basing a second three- year bailout package on talks to corral banks into maintaining their Greek debt holdings.

Different Options

Under one option of the French plan, private investors would reinvest 70 percent of their original holdings in 30-year Greek bonds, with the remaining 30 percent paid in cash on maturity. Greece would use 50 percent of the original amount to meet its financing needs with the remaining 20 percent invested in zero-coupon bonds through a so-called special purpose vehicle to serve as collateral to insure the banks get their principal repaid.

The new 30-year bonds will have a coupon of 5.5 percent with a bonus based on the growth of Greek gross domestic product of up to 2.5 percentage points. The special purpose vehicle will invest in AAA-rated securities that will be held as collateral to protect the banks against a Greek default or be used to pay off the new 30-year bonds at maturity if Greece remains solvent. The second option of the French plan foresees rolling over at least 90 percent of the maturing bonds into new 5-year bonds with a 5.5 percent coupon.

Mon, 07/04/2011 - 07:04 | 1423772 Spigot

Obviously the markets are closed or Leo and Bruce would not be responding to their respective haters.

Have a great 4th. Forget about money for the day. It ain't about the money.

Mon, 07/04/2011 - 03:51 | 1423645 cranky-old-geezer

Leo has the same kick-the-can-down-the-road fairytale fantasies the rest of the financial sector has.

Like them, he hopes things will somehow "work out", particularly in his beloved pension fund industry.

Like them, he refuses to see and acknowledge the handwriting on the wall, the obvious warning signs of impending collapse via cascading debt default or the alternative, massive money printing and subsequent currency collapse, either of which will wipe out those beloved pension funds and their beneficiaries.

Like them he avoids reality with trivial distractions such as this article and similar touchy-feely articles posted here on ZH.

He chooses to wear the same rose-colored glasses most financial sector people wear.

To be in the financial sector you have to be a financial sector whore. You have to prostitute yourself to the industry, drink the koolaid, parrot the party line, to stay in that industry.

Sun, 07/03/2011 - 23:03 | 1423474 ThisIsBob

Oh, yes, its TEOTWAWKI, but price didn't get the memo yet.

Sun, 07/03/2011 - 22:13 | 1423411 VyseLegendaire

Hey man. No offense but you write like you're a high flying know-it-al off of that Showtime/HBO kids show with the celebrities and crap, I can't even remember the name.

I can't be bothered to read this drivel, please write something valuable.

Mon, 07/04/2011 - 00:14 | 1423548 akak

The turd sandwich is the only thing on the menu at Cafe Leo.

Sun, 07/03/2011 - 19:40 | 1423223 Leo Kolivakis

Just saw 60 Minutes. Please donate to the Global Medical Relief Fund:

http://www.gmrfchildren.org/

And help save one child at a time.

Sun, 07/03/2011 - 20:12 | 1423263 Reese Bobby

Some people might think that is a random and presumptuous thing to throw at people. But not me Leo!

Sun, 07/03/2011 - 20:38 | 1423285 Leo Kolivakis

I donated $100 and I'm sure many here can donate a lot more. Great charity, very worthy of my money.

Sun, 07/03/2011 - 21:33 | 1423354 Zero Govt

like most Western institutions, Charities have become shams for the usual human scumbags... i doubt it Leo

Sun, 07/03/2011 - 22:02 | 1423393 Leo Kolivakis

Do your own DD before calling this charity a "sham." The lady is sincere and the images of kids mutilated by bombs aren't a hoax!

Mon, 07/04/2011 - 07:38 | 1423778 Zero Govt

Leo

was watching a BBC report the other day that amidst the murder and mahem the US and British military is creating out there in Afghanistan there's still time for tending to local childrens medical needs, help building schools and hospitals and what a good humane job we're doing, how blessed!

Of course what i'd be thinking as a local Afghan is what are these foreign occupiers doing invading and blowing up my country, houses, friends and relations while dispensing social and medical services at the same time? Seems mighty perverse in the extreme no?

This is typical of the morons of Govt. They have taken a good idea, the SAS's 'Hearts & Minds' strategy of winning over the locals, but dispense it like some drunk organ grinder thinking we can obtain the locals support with a production line feed of social services (socialism) while also dispensing thuggery. Two-faced British diplomacy, about as genuine as an Obumma teleprompter speech

Mon, 07/04/2011 - 00:09 | 1423537 akak

Armaments have not mutilated 1/100th as many people as have the financial bombs of Ponzi fiat currency manipulation and depreciation, artificial central-banking-born boom-and-bust economic cycles, and the massively socialized losses of the TBTF dumped onto the backs of the population by the parasitical bankster elites ---- and all with Leo's blessings.

Mon, 07/04/2011 - 09:28 | 1423980 doggings

maybe not dude but it sure feels worse if it happens to you or yours

Mon, 07/04/2011 - 06:36 | 1423759 SamuelMaverick

Sun, 07/03/2011 - 23:18 | 1423492 High Plains Drifter

yes it is true. children mutilated by bombs, bombs that this country has dropped on them. am i proud of this? hardly on this fourth of july scam day, when we say to ourselves we are free and are not. if i could undo what has been done , in my lifetime , i would in a heartbeat. but i can't. i wish i could. on this fourth of july, perhaps we should ponder what we have done to the world and what we continue to do to the world and where we are going, while we have our hotdogs and watch our fireworks and say to ourselves, gee, i am sooooooooooo glad to be a free man.....yeh sure. this country makes me sick to my stomach.

Mon, 07/04/2011 - 09:26 | 1423978 doggings

+++ ^^

Mon, 07/04/2011 - 00:04 | 1423525 Herbert_guthrie

Yes, lots of bloodstains on this country's hands. Nothing I would have condoned no matter how valuable the profit.
The only noble fight for the US was against the British for our sovereignty, all other bloodshed was for greed and profit.

I'm going to celebrate the 4th with the family tomorrow, celebrating independence day for a country that has surely lost its way forever.

Love your moniker. One of the best westerns of all time, in some of my favorite haunts.

Sun, 07/03/2011 - 15:54 | 1422954 bankruptcylawyer

stick to your area of expertise...canada.

Sun, 07/03/2011 - 16:36 | 1423019 akak

Dont' forget about those Chinese solars!

Actually, I think the only area of expertise of Leo Quislingasskiss is in contemptible cowardice, criminal cluelessness, comfortable conformity, command-and-control condonement, and kleptocratic corporate cocksucking.

Sun, 07/03/2011 - 17:29 | 1423101 High Plains Drifter

come on, akak, cut him some slack. i mean the man had to wait until he was 39 before he got his first car.......

Sun, 07/03/2011 - 17:30 | 1423103 Leo Kolivakis

You are mixed up, my dad and it was 29, about the same time that I got my first car, a VW Jetta 1.8T

Sun, 07/03/2011 - 20:09 | 1423260 Reese Bobby

Leo doesn't seem like a bad guy and ZH obviously has a soft spot for him. So good news Leo: From now on I am going to treat you like an autistic brother who I have to protect.

LEAVE HIM ALONE YOU BULLIES OR I'LL PULL YOUR UNDERWEAR OVER YOUR HEADS!

Sun, 07/03/2011 - 21:04 | 1423293 akak

The difference is that the autistic are ignorant and innocent; Leo is neither.

He has freely and unabashedly chosen to throw in his lot with the Dark Side of the banksters and their political enablers. Morever, he has repeatedly admonished all of us to do the same --- to surrender to corruption and evil as he has.

If you really think that Leo "doesn't seem like a bad guy", you have obviously just not been here on ZeroHedge long enough to have read Leo's many disgusting and egregiously spineless calls for bowing low to the status-quo power elite ---- most such comments, however, no longer existing in these threads, as they were repeatedly and rightfully junked into oblivion by dozens of outraged ZeroHedge readers virtually each and every time (which demonstrated both the breadth and depth of the disgust with Leo on ZeroHedge, and in which he far exceeded the righteous anger directed at ANYONE else posting in this forum), a fact which Leo and his small cadre of naive and/or disingenuous defenders have been pointedly unwilling to acknowledge here.

Sun, 07/03/2011 - 21:05 | 1423322 Reese Bobby

That's enough! I'll meet you after school behind the gym to set you straight...

Sun, 07/03/2011 - 21:26 | 1423349 Zero Govt

"..a VW Jetta 1.8T.."

That explains a lot Leo.. your boring and conservative side and the pretence (maybe trying too hard?) to be something sporty.. something a Jetta never could be!

Sun, 07/03/2011 - 23:14 | 1423487 High Plains Drifter

well what are you trying to insinuate? leo is gay? is that it? :)

Mon, 07/04/2011 - 00:12 | 1423546 akak

One would have to be able to love someone aside from oneself, even though they be of the same sex, in order to be gay --- I am not sure if Leo's all-encompassing narcissistic self-love would even theoretically leave room for him to be gay.

Mon, 07/04/2011 - 06:35 | 1423757 SamuelMaverick

Akak, you are angry enuf to chew steel and spit nails. I agree with you about Leo's positions, just don't agree with the personal attack part...... Although it is nice to see someone take the gloves off in fight club. Yours, Maverick

Sun, 07/03/2011 - 21:17 | 1423339 Leo Kolivakis

Tweedledee and tweedledumb...

Sun, 07/03/2011 - 23:07 | 1423481 Reese Bobby

I'm here for you Leo. And I definitely don't think Canadian Pension funds are lemmings running off the victim cliff, as usual...

Sun, 07/03/2011 - 21:30 | 1423351 akak

"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you, and may posterity forget that you were ever our countrymen.”

Sun, 07/03/2011 - 17:29 | 1423100 Leo Kolivakis

akak, as my humble father would say, "increase the dosage."

Sun, 07/03/2011 - 17:39 | 1423106 akak

Leo, you're the one whom God has cursed with a failing body and a failed mind (and a stillborn soul), not I.

Take the whole bottle of pills and get it over with already, you pathetic and contemptible son of a bitch --- spare yourself, and all of us, the prolonged and agonizing death throes and maniacal shrieking of yet another desperate, confused and justifiably terrified conformist clinging to the corrupt and collapsing social, political, financial and monetary status-quo.

Sun, 07/03/2011 - 17:49 | 1423128 Leo Kolivakis

such a limited vocabulary, try investing in a Thesaurus and please go crawl back under your rock.

Sun, 07/03/2011 - 19:08 | 1423190 akak

If the power-pandering, willfully subservient, shamelessly duplicitous shoe fits ....

Sun, 07/03/2011 - 20:17 | 1423265 nmewn

I had every intent of coming back here (I read BK's comment this morning) and say Leo was at least trying.

That he was at least trying to see the moral hazard that is neo-Keynesian theory, that the wolves he shares lunch with would not hesitate to eat him as an appetizer, that his recognition of the banker/statist capture of what a free market should be is a call to action, not an invitation to dinner.

I was thinking of the old Beatles song...The Long and Winding Road...its clear I was wrong.

Mon, 07/04/2011 - 02:23 | 1423646 LudwigVon

+1, this says it best.

If you know you have given up the fight then stop swinging ... spare us !

Sun, 07/03/2011 - 20:31 | 1423277 ebworthen

Leo means well, but he is a product of the system (as we all are in our own way).

I get frustrated that he does not see the wolves at the door, and instead feels a part of the pack versus their prey.

Keep giving us your perspective Leo, and thinking positive. Consider though, that some of us angry misanthropes may have a point as well.

Sun, 07/03/2011 - 22:36 | 1423433 nmewn

"Leo means well..."

I'm not as sure as you eb.

Whenever I see emotion mixed with finance I have warning bells going off in my head, more fireworks than what I just shot off for the kids ;-)

Sun, 07/03/2011 - 23:10 | 1423485 High Plains Drifter

well at least he walked into a church the other day, in one of those, gee i am turning 40 , what is the meaning of life, moments.........

Mon, 07/04/2011 - 08:18 | 1423839 nmewn

Mmmm.

Recognizing the demons face is an important first step, but theres not much point in going in for an excorcism if one doesn't want to be rid of it ;-)

Sun, 07/03/2011 - 18:35 | 1423162 ebworthen

Boys, boys!

You both are in timeout and have to go read my comment space hogging rant above, then aplogize to each other.

Sun, 07/03/2011 - 19:11 | 1423195 akak

Apologize? To that?

You have got to be fucking kidding me!

Zerohedge should apologize to its entire readership for inflicting the rabidly pro-status-quo, unapologetically base and cynical ravings of Leo on all of us.

Sun, 07/03/2011 - 16:10 | 1422930 lynnybee

wonderful article, really liked it. + 100 for LEO ! (p.s. love the dog video)

Sun, 07/03/2011 - 15:32 | 1422909 Jack Sheet

Sorry, can't take this "touchy-feely-let-me-introduce-you-to-my-buddy" type of delivery however cogent the content my be. Makes me feel like someone is sitting on my lap breathing Martini fumes into my face.

Sun, 07/03/2011 - 21:25 | 1423348 dark pools of soros

you another one of those assholes that put more weight on how someone says something instead of what they say? usually elementary school teachers only need to apply that since they are dealing with kids of limited vocabulary

but hey, go smile for the monkey next time someone points a camera at you

Save The World?

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