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Silly Stuff

Bruce Krasting's picture




 

 

December was a very busy month for the hard working folks at the Federal Financing Bank (FFB) Link. 117 new loans were made, while 612 old ones were rolled over. If you have 60 seconds (and want to see some weirdness) scroll through the list - it's endless. I did take pics of the report, they are at the bottom.

 

Follows is a highlight of one section of the report. These are the soft loans made in December to solar projects out west. The FFB is in deep on this type of lending - a total of $8.1B.

 

tonapah

 

Note the rollovers for Tonapah.This is a project that has thousands of mirrors focused on a tower. The tower contains salt that is heated to 1,000 degrees, and that heat is used to make electricity. A pic of the completed project.

 

 

body-0-1392238885219

 

One small problem has occurred. The intense heat from the mirrors fries anything that flies by. Who cares about few birds?

 

cooked-bird

 

 

This is a $2.2 Billion project brought to you by Google (who needed the tax-credits that come with solar investments) and, of course, the FFB who made/guaranteed $1.6b in loans. So, one way or the other, the taxpayers paid for the whole thing.

 

7IvanOnLine

 

 

Follows are the pages (all 22 of them) from the FFB report. Check out some of the interest rates that you receive on your investments. WTF?

 

 

Screen Shot 2014-02-19 at 8.47.56 AM Screen Shot 2014-02-19 at 8.48.07 AM Screen Shot 2014-02-19 at 8.48.21 AM Screen Shot 2014-02-19 at 8.48.40 AM Screen Shot 2014-02-19 at 8.49.04 AM Screen Shot 2014-02-19 at 8.49.17 AM Screen Shot 2014-02-19 at 8.49.32 AM Screen Shot 2014-02-19 at 8.49.47 AM Screen Shot 2014-02-19 at 8.50.02 AM Screen Shot 2014-02-19 at 8.50.20 AM Screen Shot 2014-02-19 at 8.50.53 AM Screen Shot 2014-02-19 at 8.51.09 AM Screen Shot 2014-02-19 at 8.51.30 AM Screen Shot 2014-02-19 at 8.51.48 AM Screen Shot 2014-02-19 at 8.52.07 AM Screen Shot 2014-02-19 at 8.52.22 AM Screen Shot 2014-02-19 at 8.52.37 AM Screen Shot 2014-02-19 at 8.52.51 AM Screen Shot 2014-02-19 at 8.53.06 AM Screen Shot 2014-02-19 at 8.53.21 AM Screen Shot 2014-02-19 at 8.53.36 AM Screen Shot 2014-02-19 at 8.53.58 AM

 

 

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Thu, 02/20/2014 - 14:31 | 4458424 ceilidh_trail
ceilidh_trail's picture

I can vouch for Xavier University being a legit institution. As to all those cheapo loans, sure wish they'd throw some my way...What in hell are we getting for OUR money?

Wed, 02/19/2014 - 20:48 | 4455073 MeelionDollerBogus
MeelionDollerBogus's picture

oh em geee

zee list

it haz the endleSsssss

Wed, 02/19/2014 - 15:35 | 4453793 The Most Intere...
The Most Interesting Frog in the World's picture

The FFB is in deep on this type of lending - a total of $8.1B.

As insane as this is, compare to bail outs and QE.  Bigger fish, or I guess birds, to fry...

Wed, 02/19/2014 - 15:33 | 4453777 Bear
Bear's picture

WTF ...

 

Dillard University is a private, historically black liberal arts college in New Orleans, Louisiana, United States ...  http://en.wikipedia.org/wiki/Dillard_University

 

Southern University and A&M College is a historically black college located in Baton Rouge, Louisiana ...  http://en.wikipedia.org/wiki/Southern_University

 

Tougaloo College is a private, co-educational, historically black, liberal arts institution of higher education founded in 1869, in Madison County, north of Jackson, Mississippi ... http://en.wikipedia.org/wiki/Tougaloo_College

 

 

Wed, 02/19/2014 - 14:59 | 4453549 flacorps
flacorps's picture

Spain loaded up on wind and solar too. Look where that got them.

I wonder if there's any chance we could get Barry Soetero to don an ant costume and climb the tower to admire the view of the array?

Wed, 02/19/2014 - 14:52 | 4453517 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Who goes to Dillard University?

Hmmm.

Wed, 02/19/2014 - 15:29 | 4453749 sangell
sangell's picture

"Historically Black college in New Orleans. Maybe Ben Crump shipped Rachel Jeantel there after the Trayvon trial. She was a given an all expenses paid scholarship to an historically black college of her choice to keep her from spilling the beans on the whole Trayvon farce and the 'phone call between her and Trayvon' was actually with another girl not the fat Haitian pig Rachel. But that girl wouldn't testilie and would have had to say Trayvon was playing the 'knockout game' on Zimmerman.

Wed, 02/19/2014 - 14:45 | 4453483 Conax
Conax's picture

Just think of the possibilities.  We could all be successful entrepeneurs if someone fronted us 20 million at a half-percent interest.  When we fail, we clean out the accounts and petty cash, make up a very sad story, then disappear.

Nice work if you can get it.

Wed, 02/19/2014 - 14:30 | 4453427 Lumberjack
Lumberjack's picture

Very much appreciated Bruce.  Thank you.

Wed, 02/19/2014 - 14:24 | 4453405 BeetleBailey
BeetleBailey's picture

SO...the HOT WATER tribe gets some cheese....

Silly

Wed, 02/19/2014 - 15:33 | 4453784 onelight
onelight's picture

I wonder if the "intense heat created by the mirrors" and which "fries anything that flies over" these solar arrays actually increases global warming...just saying..

Wed, 02/19/2014 - 20:50 | 4455082 MeelionDollerBogus
MeelionDollerBogus's picture

I would actually guess no. The heat's produced regardless BUT if you can harness some of it for non-thermal energy, or harvest the thermal energy so it's not in the atmosphere, you're good to go.

Wed, 02/19/2014 - 14:18 | 4453380 sangell
sangell's picture

I see some money being funnelled to Meharry Medical College which was America's 'black' med school. Its affiliated with the Methodist Church. Just curious if Falwells Liberty University or Pat Robertson's Regents Law school wanted some Federal money think they would get it?

Wed, 02/19/2014 - 14:02 | 4453298 LawsofPhysics
LawsofPhysics's picture

What's wrong shill?  No longer in "the club."

Sorry to that "captain obvious".

Wed, 02/19/2014 - 14:48 | 4453503 Lumberjack
Lumberjack's picture

Ever been a one legged man in an ass kicking contest? Thought so. I have and I'm back with a vengeance. I won last time too, but the winner pickers decided to go the same route again (enron). Tune in...Same guys different place. 

Wed, 02/19/2014 - 15:12 | 4453623 LawsofPhysics
LawsofPhysics's picture

Who gives a fuck?  What did you win?

enron indeed!

good thing I already hedged accordingly and have been winning for a quite some time (FYI- Bruce is whining, not winning)

Wed, 02/19/2014 - 15:44 | 4453839 Lumberjack
Lumberjack's picture

How's that sub atomic bigfoot hunt going? 

Wed, 02/19/2014 - 15:56 | 4453891 Lumberjack
Lumberjack's picture

Furthermore: how do real scientists, who make < 70k year (or less) feel about how their work is being degraded by asshole, kiss ass, facist corporatists, who are armed with useless PR firms and MSM feel? I bet you they are not too happy right now.   

 


Wed, 02/19/2014 - 16:13 | 4453909 Lumberjack
Lumberjack's picture

They should be comforted that all the research money they could have had has now been pissed away. Enron indeed did find the philosophers stone (give em an emmy or nobel). The problem with that, is that it turned out to be a very black hole.

Wed, 02/19/2014 - 16:16 | 4453991 Lumberjack
Lumberjack's picture

And about black holes...

Theory has it that what goes in must come out. With a little forensics (dogs sniff butts for a reason), you can analyze what comes out and determine what was consumed.

Wed, 02/19/2014 - 17:18 | 4454267 Lumberjack
Lumberjack's picture

"We have to pass it so you can see what's in it"

 

 

Wed, 02/19/2014 - 17:42 | 4454391 Lumberjack
Lumberjack's picture

Psychiatrists Discover Brain Receptor Responsible for Butt Sniffing in Dogs: Results Promising

http://psych-times.com/psychiatrists-discover-brain-receptor-responsible...

 

NEW YORK, NY – Researchers at Columbia University, Department of Psychiatry, have discovered the brain receptor responsible for butt sniffing in dogs.

The study, heavily funded by Pfizer Pharmaceuticals, has identified that the butt sniffing receptor (BS3) in dogs plays a vital role in controlling the mechanism responsible for habitual butt sniffing.

This finding, due to be published in Psychiatry Today, could lead to expensive new drugs that target the receptor, helping dogs overcome obsessive butt sniffing (OBS) and other mental illnesses...

 

...Snifter and colleagues used powerful drugs to target and activate the BS2 and BS3 receptors in the brains of butt-sniffing dogs. When BS3 was activated, the dogs showed a marked reduction in butt sniffing – an effect not seen when BS2 was activated. The drugs were also found to reduce the number of times the dogs licked their balls during the experimentation period.

Wed, 02/19/2014 - 19:27 | 4454810 Lumberjack
Lumberjack's picture

Then again, Pfizer got huge tax breaks.

http://www.independent.co.uk/news/uk/politics/how-can-viagra-maker-pfizer-pay-no-uk-tax-8301414.html

=====

The media also reported today (here in the US) that they have allowed the drug companies to discontinue reporting the side effects of all drugs.

http://www.nydailynews.com/news/national/fda-studies-limiting-tv-ads-drug-risk-lists-article-1.1617940

Wed, 02/19/2014 - 14:05 | 4453313 StacksOnStacks
StacksOnStacks's picture

I feel sick.

 

SILVER BITCHEZ!!!

Wed, 02/19/2014 - 10:57 | 4452389 economessed
economessed's picture

<sarc>  Don't you get it?   The rates charged are so low because the risk is so low.

Once again, we have all the evidence we need that capitalism is dead.  Capital formation is a thing of the past.  Only the government is left to pick the winners and losers.

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