ZH Evening Wrap Up 6/19/12

Some headlines from the day

- Congress asks for details on automatic spending cuts in the budget control act agreement

- China looks to grow bond market

- Everyone relax, Hank Paulson says the U.S. won't be impacted by the European crisis -- buy stocks

- Bove begs for banks to not have actual captial requirements... all in are we Richard?

- EU commission President's Barroso: "we're not coming here for lessons on how to handle the economy -- by the way, this crisis didn't originate in europe!"... in other words, stop picking on the incompetent clowns over there folks, they're getting sad

On a long enough timeline

- LCH raises margins on most spanish bonds... banning of trading next up

- Is Target2 a bailout for Europe's periphery?

- EU votes to ban the use of credit agencies, call for the EU to issue them instead... uhmm, can we just skip to all out socialism yet

- Humpty van rompuy has fallen off the wall... and all the unelected officials couldn't put the economy back together again

- This time it's different? A reminder of what happened heading into the last FOMC meeting

If you're too lazy to read, you can listen to the news here

Comments

[SAT 800]

Check out that price support in the Silver Price; why it's just as strong as, well, as Sterling Silver! Hi Ho Silver, Away!

[OutLookingIn]

How right you are Jamie!

Investing is not gamboling.

Difference;

If you cheat in Vegas?

You get your fingers broken, or worse!

[Abner Doon]

A Facebook message converstation with Congressman Brad Miller on George Hartzman's Wells Fargo Whistleblower case

http://hartzman.blogspot.com/2012/06/facebook-message-converstation-with.html

[Boonie]

Breaking news - explosion at Opryland Hotel outside Nashville. Local news reports no injuries. National sheriffs convention. Sounds minor. May be mechanical malfunction or something domestic.

[Nobody For President]

You would think this was just satire:

- Congress asks for details on automatic spending cuts in the budget control act agreement

But it is for real article in a WSJ blog.

Could it be our congresspeople voted for something they didn't understand and now don't know how to fix?

Naw...

[Never One Roach]

Hank Paulson:

But don't shed too many tears for Paulson. He has amassed quite a fortune--a roughly $700 million equity stake in Wall Street's premier investment banking house. And soon, he will have the chance to diversify a good chunk of those holdings without paying a dime to the Internal Revenue Service.

By accepting the Treasury post, Paulson is poised to take advantage of a tax loophole that allows government officials to defer capital gains taxes on assets they have to sell to avoid a conflict of interest, as long as the proceeds are reinvested in government securities or a broad array of mutual funds approved by the government within 60 days.

http://www.forbes.com/2006/06/01/paulson-tax-loophole-cx_jh_0602paultax....

[hedgehog9999]

Idiot Hank Paulson, he was right along with Bernanke on the "It is all contained" mantra and all he really did was help his buddies at GS and JPM. And he's still defending them while putting all the blame on government, which he was a critical part of and what did he do, rape and pillage from his position of power.

Of course government is a big part of the problem for their deficits and all but he was it and now he's blaming them the hipocrite.

Zero credibility and the European issue will wash into US banks like the Japanese Tsunami......

[Yen Cross]

" Thomas/Crown" in a mirror?

[disabledvet]

you forgot to add "truck driver guy makes it home from a long days work. again." other than that...spot on!
http://www.youtube.com/watch?feature=player_detailpage&v=-io-kZKl_BI