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BAC Triggers Avalanche Of $7.00 Stop Loss Sell Orders

Tyler Durden's picture


Is that H2SO4 that Warren is pouring for his next deeply introspective bath? Or will he double down and throw good money after bad money that was good as recently as 2 weeks ago (and according to Cramer was supposed to trigger a "massive short covering squeeze in the XLF.")


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Fri, 09/09/2011 - 12:17 | 1651179 TruthInSunshine
TruthInSunshine's picture

Warren 'Thanks for the 17 Billion USD Bailout, Uncle Sam' Buffett just brainstormed which toxic catastrophe of a ticker symbol to buy next while having his Depends changed.

Fri, 09/09/2011 - 12:19 | 1651202 Ahmeexnal
Fri, 09/09/2011 - 12:29 | 1651264 Cognitive Dissonance
Cognitive Dissonance's picture

Put enough Mr. Bubble in the bath water and even Warren can hide a Greek default. Until, that is, someone pulls the plug.

Mr. Bubble

Fri, 09/09/2011 - 12:32 | 1651279 GeneMarchbanks
GeneMarchbanks's picture

That's beautiful. I gave that first greenlight ;)

Fri, 09/09/2011 - 12:33 | 1651281 TruthInSunshine
TruthInSunshine's picture

Warren Buffet & Charlie Munger both shit where they bathe, which makes bath time no fun for the help.

Fri, 09/09/2011 - 12:35 | 1651291 BaBaBouy
BaBaBouy's picture

Maybe The old codger is swimming around in his own Jiz ...

Fri, 09/09/2011 - 12:41 | 1651323 Almost Solvent
Almost Solvent's picture

More like Jizunk (jizz covered junk)

Fri, 09/09/2011 - 13:00 | 1651390 TruthInSunshine
TruthInSunshine's picture

Warren Buffett places a buy order for 1 million shares of New Century Financial, while having his bottom treated with A&D ointment and then powdered, only to learn the subprime mortgage company filed for bankruptcy and was dissolved in 2008.

Fri, 09/09/2011 - 12:39 | 1651307 Atomizer
Atomizer's picture

Good one CD.

Only when the tide goes out do you discover who's been swimming naked.
-Warren Buffett

Fri, 09/09/2011 - 12:50 | 1651373 Herd Redirectio...
Herd Redirection Committee's picture

And it all goes down the drain!  LOL

Check out the latest from the Capital Research Institute "BiMetallic Standard, FAQ":

"Here at the CRI we have been calling for a return to ‘sound money’. What does that mean? What does it entail? What does CRI think this would accomplish, exactly?

First, it is crucial to understand, as more and more people are everyday, that our current money system is dishonest and crooked. We are talking about the fiat fractional reserve system, whereby new money comes into existence when banks extend credit (out of thin air). Fiat can only be exchanged for more fiat (unbacked).
The major differences, then, under a sound money system would be in terms of where NEW money comes from. Currently private banks get to decide when new money should be created, and hence, business conditions for THOSE private banks will determine the money environment FOR EVERYBODY. This is the current situation, where banks are so illiquid and insolvent that they plainly refuse to extend credit on reasonable terms. This results in a feedback loop such as the world experienced in 2008 (when credit dried up) as well as what we are experiencing currently.

Under a gold/silver BiMetallic Standard the price of gold and silver would both be fixed..."

Fri, 09/09/2011 - 14:53 | 1651968 Helix6
Helix6's picture

Gold and silver have been tried numerous times as the basis of monetary systems, and both have failed repeatedly.  The reasons are well-understood:  By virtue of scarcity they do not have the flexibility to expand (and contract) in proportion to economic activity.  Also due to scarcity, they can be, and almost invariably have been, concentrated into a few hands, who then manipulate the money system to their own benefit -- and to the detriment of all others.

Having said that, I agree that "our current money system is dishonest and crooked."  A debt-based money system gives rise to a money supply whose hidden purpose is to transfer the wealth generated by economic activity to those authorized to create the money.  Thus the very heart of the money system is corrupt.  It also creates impossible math.  Because principal is created but interest is not, it means that the economy must grow exponentially to generate the wealth needed to pay the interest.  In a finite world, exponential growth is impossible over the long term.  Furthermore, even a brief economic downturn means that there must be debts that cannot be serviced.  By mathematical necessity, someone is going to get skewered.  Not because they are lazy or are unworthy, but because the mechanics of the money system demands its pound of flesh.  This is a terrible price to pay for a debt-based money system.  I submit that this is one of the underlying causes of the viciousness and anxiety that characterizes American society.  One can forestall the day of reckoning by creating more debt to service the existing debt, perhaps at a lower interest rate.  But this final manoeuver will also fail at the point of debt saturation: the point at which borrowers are unwilling or unable to take on any additional debt.  I believe we have now reached that point.

Debt always creates a master/servant relationship and sets up a rich-get-richer-and-poor-get-poorer dynamic.  This is not to say that lending is always bad.  Sometimes it is the best way to provide the capital needed to set up a productive enterprise.  But an entire monetary system based on debt must inevitably fail, with results that are unpleasant to contemplate.

Take a look around at the economic landscape.  Are you happy with what you see?  This is the inevitable result of a debt-based monetary system.  We must tear it down, or suffer its consequences.

Fri, 09/09/2011 - 15:18 | 1652077 Lets_Eat_Ben
Lets_Eat_Ben's picture

@ Helix6

OK so if the money can not be debt and it can not be backed by gold and silver, then what the fuck is the answer?

Fri, 09/09/2011 - 16:24 | 1652376 samslaught
samslaught's picture

Fofoa has a good theory called freegold.  I'd check that out for one possible solution.  The problem lies in the fact that people want to borrow money the depreciates in value and save money that maintains its value.  is it possible to do both at the same time:

Some might say you can do that right now.  Borrow money from the bank and they give you currency (which goes down in value over time) and then if I keep all of my savings in gold (which retains its value over time) I've accomplished this.  The only problem is the price of gold is heavily manipulated.  Once its actual market value is revealed through market forces then we can have a freegold system


Fri, 09/09/2011 - 16:34 | 1652408 Helix6
Helix6's picture

The answers are always tough due to the foibles of man.  The fact that civilizations always seem to follow birth-growth-maturity-decline-oblivion courses speaks to the enduring nature of those foibles.

Nonetheless, it seems to me that fiat currencies are here to stay.  So the question is how to best manage them.  Clearly, allowing bankers to control the supply gives them a death grip on the economies of nations, life-and-death control over their governments, and a subtle means with which to inexhorably siphon off the fruits of the nations' labor for themselves.  This, to me, is a fatal flaw.  The only other alternative that I see is for governments themselves to control the money supply.  Such a system is also fraught with peril as it creates the risk of governments manipulating the money supply to implement tyrannical powers over the people, or toward the advancement of the careers of government officials, rather than supporting the nation's economy.

In the end, we seem to be in a situation where we are forced to choose our poison.  The money system will never be better than the motivations of the people in charge of its management.  And so I see the functioning of that system as much an ethical issue as a financial one.  But one thing I am sure of: Having a money system under the control of people whose sole motive is profiting from it might just be the worst poison of the lot.

Fri, 09/09/2011 - 15:23 | 1652100 lemonobrien
lemonobrien's picture

so what you're saying is that, golds and silvers doesn't allow bankers to make money to "Expand" and "Contract" at will? Or, their is only so much gold and silvers, so we have to add copper, and nickel? Or, yous have to pardon me, cause I'm southern with a drawl, that mankind perfers the slave/master relationship cause back in dixies land beaten slaves was good times? OR, sorry, you know I'm southern, we puts out paper with fancy writtens, cause it's like sea shells, and back in dem times, when sea shells was money; peoples was happy?

Fri, 09/09/2011 - 17:09 | 1652518 Helix6
Helix6's picture

Not exactly.  What I'm saying is that the scarcity of gold and silver are both an advantage and a disadvantage.  The advantage is that they cannot be created out of thin air, so there is an innate control of the supply there.  The disadvantage is that, in combination with a system that allows loans at interest, the existing stock winds up concentrated in a small number of hands.  Human nature being what it is, the possibilities arising from this concentration are not pretty. 

A second (and to my mind a more important) disadvantage is that a precious-metals-based money supply is dictated not by economic activity but by the labor and expense needed to add to that supply.  In the case of precious metals, the cost is steep.  This means that gold and silver may not, and historically have not, been able to keep pace with economic activity.  For example, economic activity has increased dramatically in the last two centuries due to population growth and to advances in technology.  Population alone has nearly quintupled since 1900.  And while technological advances are harder to quantify, I think most people will agree that they have been little short of spectacular, literally lifting billions of people out of a subsistence existence and into a cash economy.  The stock of gold, on the other hand, has barely kept pace just with population growth, and production has been in general decline now for over a decade. 

So because of the potential for manipulation and the strangulation effect an insufficient money supply has on economic activity, I don't think precious metals will fit the bill.  On the other hand, because of their scarcity and their appeal to humans, they are an excellent store of wealth.

Fri, 09/09/2011 - 18:20 | 1652685 lemonobrien
lemonobrien's picture

What I get from your arguments is that you're a liberal and are scared the world will be too conservative if money is back by precious metals; cause people will have to be smarter and just can't spend... 

My argument is, if we was more conservative about how we use our resources, we wouldn't be in this mess.


Let me put my dick in your mouth for a little bit, I'm southern...

"For example, economic activity has increased dramatically in the last two centuries due to population growth and to advances in technology.  Population alone has nearly quintupled since 1900.  And while technological advances are harder to quantify, I think most people will agree that they have been little short of spectacular, literally lifting billions of people out of a subsistence existence and into a cash economy."

I think the only people who've really benefitted is the Americans; we are the consumers of the world; and if you don't like it, we'll just bomb the shit out ya... now here, buy these T-Bills. BTW, the population of America is like 300 million; the rest of the world; billions.

"The stock of gold, on the other hand, has barely kept pace just with population growth, and production has been in general decline now for over a decade."

What's wrong with that? you got copper, nickel, tin (see japanese 1 yen coin); why does everyone have to have gold. if you have gold at $2,000 an ounce and print more paper, and it goes up to $2,500 an ounce, it just means you need more tin coins to buy gold cause theirs more tin. Think of gold like your $1,000 bill. rare, harder to find, and cost more than a $1,000... but used by bankers, the wealthy, and the elite. You my friend, just don't like being poor, and don't want the realization of how poor you are, to come to light.

"So because of the potential for manipulation and the strangulation effect an insufficient money supply has on economic activity" 

I can see you went to school to learn something... but what you're saying is you don't want people to be wise with their money so they make wise investments; you want them to piss it away, and be able to keep pissing; even though, it means nothing. except destroying the earth.

"I don't think precious metals will fit the bill.  On the other hand, because of their scarcity and their appeal to humans, they are an excellent store of wealth."



The greatest invention by man, to keep his ass alive, is toilet paper.


Fri, 09/09/2011 - 18:52 | 1652795 Helix6
Helix6's picture

Re: "What I get from your arguments is that you're a liberal and are scared the world will be too conservative if money is back by precious metals; cause people will have to be smarter and just can't spend..."

Well, noooo.  My argument is that if we have a money supply that has just kept pace with population growth since 1900 but not the increased economic activity resulting from technological advance since then, we would have about the same level of economic activity today as we did in 1900, before the advent of cars, telephones, airplanes, refrigerators, personal computers, MRIs, indoor plumbing, and household electricity.

If this makes me a liberal, then I guess Ben Franklin was a liberal, too.  He mentions in his autobiography that Philadelphia was in dire straights due to insufficient money supply in the 1720s.  The assembly voted to increase the (fiat) money supply in 1729 and again in 1739, which proved to be a great boon to Philadelphia, which was growing in population and industry at the time.

"My argument is, if we was more conservative about how we use our resources, we wouldn't be in this mess."

Undoubtedly true, but only one of several underlying causes of our problems.  In my opinion, the most pernicious is the constant bleeding of our fiscal system due to debt-based currency.

"Let me put my dick in your mouth for a little bit, I'm southern..."

I take it back.  The most pernicious is the arrogance that arises from your belief that only you know the True Path, and the resulting intolerance and contempt that you feel entitled to heap on those who do not agree with your views.  It's insulting and forecloses further meaningful discussion, which was perhaps your intent.


Fri, 09/09/2011 - 19:42 | 1652936 lemonobrien
lemonobrien's picture

well, let me put it this way... if we lived the same way today as we did in 1900, that would probably be real progress. What's wrong with suffering, or non progress. Which life style is better? The plains indian, or the modern american slave? I'd take the american indian any day.. and who gives a shit about progress... that's nothing more than ego retardation. man is doomed; the earth will be consumed and we will most likely die with it unless we can morph ourselves into multi-dimensional being. Nearest star being 5 light years away... nearest earth like planet? So, your whole way of thinking that we must progress... is actually your slave mentality. We don't need nothing except what we've already been given.

Fri, 09/09/2011 - 20:01 | 1652980 Helix6
Helix6's picture

I guess I should conclude from this post that you're living in a house without electricity and an outhouse out back, don't own a car, telephone, or personal computer...

Oh, wait...

Fri, 09/09/2011 - 20:10 | 1653001 lemonobrien
lemonobrien's picture

actually i don't own a car or a phone; i create software. and i plan on buying land in the middle of nowhere to do absolutely nothing on. to live like a human being.

Fri, 09/09/2011 - 20:36 | 1653052 Tompooz
Tompooz's picture

 You will still need to band together with like-minded individuals. Human beings still need a society. And any society still needs to solve the problems that Helix grapples with.

Sat, 09/10/2011 - 03:37 | 1653918 lemonobrien
lemonobrien's picture

why do you think people want to be around other people? your young and don't have kids yet? and Helix is doing nothing but mental masturbation; he wants to do central planning of the money suplly...which as we can see; doesn't work. The real reason it don't work is because we live in a finite world; finite resources, finite human beings, finite things to do. this is why we are collapsing; cause debt has hit the imit of our capacity/want to consume. The math is wrong.

Fri, 09/09/2011 - 20:44 | 1653072 Tater Salad
Tater Salad's picture

Lemon, if buying land in the middle of nowhere and doing nothing on it is human, I want to be the anthisis of buying property in Manhattan?


Sat, 09/10/2011 - 03:31 | 1653916 lemonobrien
lemonobrien's picture

I've lived in Tokyo, London, NYC; all shithole in the end; why do you think rich people have country estates; and live on the tops of hills; to get away from the riff-raff.

Mon, 09/12/2011 - 13:05 | 1660069 TN2000
TN2000's picture

Missing from your analyis, is that in order to provide that 'great boon' to Philadelphia, a transfer of wealth effectively had to take place (by means of that act of currency manipulation) from somewhere else in the country. I.e. in order for Philadelphia to develop more, somewhere else (where that money might have been better spent than Philly) had to develop less. For each factory built in Philly they had to transfer the productive resources from somewhere else and a factory somewhere else was NOT built.

This is the unseen effect on the other side of your currency manipulation equation.

Look at Philadelphia today, it remains a less than optimal economic area, and has seen ongoing contraction of economic activity and population for a decades - so maybe there are underlying reasons why it is not the best place for that economic activity, maybe it should not have been artificially propped up in the first place.

Your argument is comparable to welfare. If Joe is out of work, I take money from Bob and give it to Joe (using currency dilution or any other method of wealth tansfer), then you can point at Joe's nice new car and say 'look how it helped, it was a good thing'. The other side of the equation is that Bob, who is a much harder worker, is now struggling to make ends meet.

Fri, 09/09/2011 - 16:13 | 1652334 RockyRacoon
RockyRacoon's picture

Copper served for a long, long time.   And nickel is still doing yeoman's duty in the coinage.  Your thinking is limited.

Fri, 09/09/2011 - 17:17 | 1652541 Helix6
Helix6's picture

Well, I'm the first to admit that my thinking is limited, despite my best efforts to expand it as much as possible.  I also have no problem using base metals or whatever other medium of exchange is agreed upon by the participants in the economy, so long as its supply is not based on debt and its quantity is not constrained in such a way that it has a strangling effect on economic activity.

And to this I should add that no other inordinate advantage is given to the issuing authority, a tricky proposition at best.

Fri, 09/09/2011 - 17:09 | 1652515 CompassionateFascist
CompassionateFascist's picture

Gave you a red and a green...damn, that didn't work...

Fri, 09/09/2011 - 13:50 | 1651631 DaveyJones
DaveyJones's picture

mr bubble or farts to help an old one

Fri, 09/09/2011 - 14:04 | 1651719 TruthInSunshine
TruthInSunshine's picture

It's only when the bubble bath plug has been removed that the water drains and one can see that Buffett shat in the tub.

Fri, 09/09/2011 - 15:10 | 1652046 Ruffcut
Ruffcut's picture

Geez CD, your love affair with mr bubba.

Next you'll singin in the bath, "my ding a ling".

Fri, 09/09/2011 - 12:31 | 1651273 Belarus
Belarus's picture

No doubt, bubba. Look at his coveted warrants on Goldman and GE. Both were struck with strike prices of 122 and 22 respectively. Both far below them after the Buffett spike erodes and reality takes over. Of course, the old geaser will insist that Congress will do the "right" thing and bail out BAC--yet again, and GS, and WFC and GE while we're at it--and all equity and preferred holdings at the same time. This guy has become an American Baffoon. 

Fri, 09/09/2011 - 13:00 | 1651429 Cognitive Dissonance
Cognitive Dissonance's picture



This guy has become an American Baffoon.

I would say an American Vampire is more apt.

Fri, 09/09/2011 - 13:27 | 1651524 unununium
unununium's picture

Cmon, Buffett exercised the 7.14 warrants already when the stock was at 8.50.  It was a stealth secondary.

Fri, 09/09/2011 - 14:14 | 1651763 ToNYC
ToNYC's picture


Berkshire can live off (selling to) the dogs that gather to sniff its rear.

Fri, 09/09/2011 - 17:47 | 1652616 Dingleberry
Dingleberry's picture

Maybe Warren saw a floating turd in the tub and then thought "Bank of America!"

Fri, 09/09/2011 - 12:17 | 1651182 AccreditedEYE
AccreditedEYE's picture

Suck it up Charlie! Suck it up Warren! LOL This will be the trade that tarnished your "perfect record".

Fri, 09/09/2011 - 12:19 | 1651200 writingsonthewall
writingsonthewall's picture

Don't worry - Buffet has already got his PR dept working hard on making this loss a gain.


People with good PR always win!


...just like all blog investors - I made $30 Billion today alone - and I'm 10ft tall - and my cock is sooooooo big your wife would love it ;)

Fri, 09/09/2011 - 12:46 | 1651347 Temporalist
Temporalist's picture

The Fed has a PR firm now.  Do you think it's been successful too?

Fri, 09/09/2011 - 14:16 | 1651775 ToNYC
ToNYC's picture


had your wife  at the $30 Billion.

Fri, 09/09/2011 - 15:15 | 1652069 Ruffcut
Ruffcut's picture

What if buffy is buying time for transfer some good stuff from his wells fucko to lighten his shit pile?

Fanny and fucky did it. Then let the bond and stock holders take it in the ass. New IPO in 12 months and no worse for wear.

Fri, 09/09/2011 - 12:19 | 1651201 A.W.E.S.O.M.-O 4000
A.W.E.S.O.M.-O 4000's picture

Dude, I'm missing 3 fingers on my left hand from trying to catch falling knives.


Fuck that shit.

Fri, 09/09/2011 - 12:23 | 1651227 Oh regional Indian
Oh regional Indian's picture

Butt it isn't even his money really. Never was. nwo it might never be.

War On Buffet.


Signs of America's Collapse

Fri, 09/09/2011 - 12:57 | 1651414 spiral_eyes
spiral_eyes's picture

For far too long bad decisions, bad management and dangerous corporate behaviour has been rewarded with taxpayer bailouts, crony capitalism, and subsidies. And quite simply, until those practices are rewarded with utter abject failure we are totally fucked.

Fri, 09/09/2011 - 14:19 | 1651798 ToNYC
ToNYC's picture


If it manages to be there for just a minute, or by appointment, it's like it never was and in a flash it were gone...a forgotten crime, perfectly done.

Fri, 09/09/2011 - 12:42 | 1651328 dracos_ghost
dracos_ghost's picture

Except both ossified old coots will be around when BAC recovers $9 -- in 3011.

Fri, 09/09/2011 - 13:08 | 1651452 sun tzu
sun tzu's picture

The taxpayers will loan $5 billion to BofA and Berkshire will be name as the senior creditor

Fri, 09/09/2011 - 12:17 | 1651183 writingsonthewall
writingsonthewall's picture

All you can eat Buffet Bitchezzzzzz

Fri, 09/09/2011 - 12:17 | 1651184 Instant Wealth
Instant Wealth's picture

The Debacle of Omaha.

Fri, 09/09/2011 - 12:34 | 1651290 franzpick
franzpick's picture

The Orifice of Omaha.

Fri, 09/09/2011 - 12:47 | 1651354 Temporalist
Temporalist's picture

The Whoreacle of Obama

Fri, 09/09/2011 - 13:01 | 1651434 slewie the pi-rat
slewie the pi-rat's picture

the owner of "moody's"

Fri, 09/09/2011 - 13:15 | 1651493 buzzsaw99
buzzsaw99's picture

unka warrants

Fri, 09/09/2011 - 13:37 | 1651585 bugs_
bugs_'s picture

dirty.  inside trading.  above the law.

Fri, 09/09/2011 - 17:54 | 1652630 Dingleberry
Dingleberry's picture

Fucking right....this scumbag gets a free pass, insider info and blown by Liesman and Quick every time he goes on TV. What the fuck ever happened to Charlie Munger???  That shrivelled up dick just needs to drown in his tub or some shit.

Fri, 09/09/2011 - 12:17 | 1651189 MyKillK
MyKillK's picture

So how come the price didn't budge? That's a LOT of sales to not trigger a huge downfall in price...

Fri, 09/09/2011 - 12:19 | 1651197 Ryman1075
Ryman1075's picture

Right...Was that HFT stopping the plunge?

Fri, 09/09/2011 - 13:34 | 1651567 NotApplicable
NotApplicable's picture

Given the SEC's aggressive stance againt market manipulation... *cough* *cough* my guess is there will be a spike in BAC failures to deliver.

I'll have to remember to look here once the data hits.

Looks like a nice spike last month too. Was that when Warren jumped in?

Fri, 09/09/2011 - 15:19 | 1652081 Ruffcut
Ruffcut's picture

So they are issuing more shares. During 2008 and 2009 they went from 5 something million billion shares to 8.

Citi sold five times as many outstanding shares. The reason for HFT on those two shitbags to get those worthless shares into the market.

Fri, 09/09/2011 - 12:18 | 1651190 Clorox Cowboy
Clorox Cowboy's picture

Obama's thinking "Why didn't I just make it an even $450B?  That would have worked for sure!"

Fri, 09/09/2011 - 12:24 | 1651234 greyghost
greyghost's picture

yep...450 billion....what does that come to for every man woman and child in the usa? could someone help me out here and do the math, seems my commodore 64 isn't up to the task, to damn many 000000s. thanks

Fri, 09/09/2011 - 12:31 | 1651275 Moe Howard
Moe Howard's picture

You shoulda sprung for the 128D.

Fri, 09/09/2011 - 13:06 | 1651449 Liquid Courage
Liquid Courage's picture

Hey, it's way easier than it looks, gg ... remember CANCELLATION? It's a fraction (i.e. a RATIO), so 1 billion/2 billion is exactly the same as 1/2, right?

So 450 billion/312 million by CANCELLING 6 zeros above and below is the same as 450,000/312, which is $1,442.31 ... not a bad chunk of change. Some folks might even decide to pay their mortgage for a month ... nawww, prolly not.

Fri, 09/09/2011 - 15:39 | 1652175 FreeNewEnergy
FreeNewEnergy's picture

Well, passing out money to everyone in America isn't the actual intent of the AJA. It's supposed to help out those 14 million on unemployment, so how how about 447,000/14 = $31928.57 for each unemployed person.

I say, the heck with all the tax credits and other BS that obviously won't work; just give 'em the dough. It's going to be wasted anyway, might as well let people who don't have much waste it.

Of course, if anyone can find the research, I believe the Reagan jobs program actually PAID employers to hire new employees for 3 to 6 months. That's right. Back in 1982, when I had a start-up, I found out about this program and the government paid a new hire for [I believe it was] 6 months.

The program was a god-send to my business and got one young woman started on a career in advertising.

You want to kick-start the economy. Tell employers the government will pay new hires' wages (or a significant portion) for 3-6 months, provided you keep them on for a year to 18 months.

Worked then, but we're far too cynical for that now, aren't we?

Sat, 09/10/2011 - 07:27 | 1654072 mind_imminst
mind_imminst's picture

It "worked" then. I understand your point here, but ultimately I don't like the moral hazard. The money the government used to help you out was from taken from someone, printed, or just added to the government debt. Jobs that are created through productive invesmtent or creative processes are "natural" and best for economic health. Having the government pay for new hires just strikes me as a short term fix (which eventually leads to long term headaches).

Fri, 09/09/2011 - 12:25 | 1651235 greyghost
greyghost's picture

opps...damn enter button on my commodore 64 stuck...sorry

Fri, 09/09/2011 - 16:16 | 1652345 RockyRacoon
RockyRacoon's picture

Bitch, ain't it?  My TRS-80 is starting to drag these days.   That blasted cassette tape drive is sluggish.   Maybe I should look to an upgrade?

Fri, 09/09/2011 - 18:01 | 1652637 edotabin
edotabin's picture

Wait till I fire up my Timex Sinclair

Fri, 09/09/2011 - 21:02 | 1653118 Hulk
Hulk's picture

Increase your tape speed to 3.75ips and your clock speed to 1Mhz immediately!

Fri, 09/09/2011 - 12:25 | 1651241 SeanJKerrigan
SeanJKerrigan's picture

In sales, they tell you to use 9s because they're more attractive to customers.  It should have been $499 or $495.  Act now.  Better yet, do installment plans.  Only $25 billion a year (for 20 years).

Fri, 09/09/2011 - 12:36 | 1651299 Clorox Cowboy
Clorox Cowboy's picture

I'm sure they're discussing this very idea for either TARP 2 or the next Jobs Bill.  Oops, I mean...not that we'll need those...this one will be THE magic bullet once those shovels hit the ground...and...and...imagine how bad it would have been without any bailouts!!

Fri, 09/09/2011 - 13:26 | 1651530 LongBallsShortBrains
LongBallsShortBrains's picture

$24.999 Billion a year

For 19.99 years

Fri, 09/09/2011 - 12:18 | 1651191 jomama
jomama's picture

ill-gotten gains from skimming off the top and racketeering don't constitute good money - at least in my book.  

who cares when you don't really have to work for it anyway?

btw, am i nerdy that i knew that formula was sulfuric acid without having to look it up?

Fri, 09/09/2011 - 12:19 | 1651203 Clorox Cowboy
Clorox Cowboy's picture

You know you are.

Fri, 09/09/2011 - 12:18 | 1651192 Waterfallsparkles
Waterfallsparkles's picture

Looks like he is going to take a bath.

Fri, 09/09/2011 - 12:21 | 1651204 dwdollar
dwdollar's picture

Someone took my grandparents new car for a joy ride this morning at 2:30 AM.  I don't believe it was an attempted theft.  It was a message to my family.  My aunt is a banker and a greedy bitch.  I have feared that when SHTF people wouldn't make the distinction between her and the rest of my family.  Unfortunately, I think my fear is confirmed.

Make sure you have guns boys and girls.

Fri, 09/09/2011 - 12:27 | 1651260 Abiotic Oil
Abiotic Oil's picture

I think most folks have guns to shoot bankers, not defend them.

Fri, 09/09/2011 - 12:32 | 1651274 dwdollar
dwdollar's picture

I don't give a shit about my aunt.  You can hang her, shoot her, or whatever.  She called the cops on me a few years ago when I confronted her.  She has it coming.  However, the rest of my family are the most caring people you'll ever meet.  I love them and will defend them.

Fri, 09/09/2011 - 12:38 | 1651298 moneymutt
moneymutt's picture

she treated you badly once and now you think its okay for a mob to kill her, hope you are not your definition of nice, being good is not just being good to people that do good to you, even a sociaopath has enough sense to do that , sometimes you have to be decent to someone that has actually harmed seem to want way more than an eye for an eye....and what if that was everybodies' rule? have you never harmed anyone, ever in your life, do you want those that you have wronged, to want you dead?

Fri, 09/09/2011 - 12:47 | 1651339 dwdollar
dwdollar's picture

This isn't the warm happy feel good paradise of yore where everyone is innocent. This is the real world of now. You're gonna have to draw the line if you want to survive. I draw mine at betrayal.

Fri, 09/09/2011 - 13:01 | 1651433 Freddie
Freddie's picture

This sounds like a realy F'ed Up clan of a family.  He thinks the locals took his aunt's car out for a joyride.  Smaller banks are not as scummy as the TBTF banks.  Most of the loans and the total f***king up the financial system was ACORN/lib dems/community organizer suing banks to force them to lend to welfare cases to buy homes.  Smaller banks serve a purpose and most are not total slime.

Fri, 09/09/2011 - 13:33 | 1651478 dwdollar
dwdollar's picture

They are all tentacles of The Federal Reserve. This idea that small banks are somehow righteous is complete bullshit.  I'd go as far as to call it propaganda.

You also didn't read correctly.

Fri, 09/09/2011 - 15:33 | 1652146 brian oblivion
brian oblivion's picture

Freddie, did you happen to know that you're retarded?

Yes, it's true. People, like you, who spout shit as stupid as that have a special

name. They're called retards, and you're one of them.

Fri, 09/09/2011 - 15:33 | 1652147 brian oblivion
brian oblivion's picture

Freddie, did you happen to know that you're retarded?

Yes, it's true. People, like you, who spout shit as stupid as that have a special

name. They're called retards, and you're one of them.

Fri, 09/09/2011 - 17:19 | 1652546 CompassionateFascist
CompassionateFascist's picture

Evidently, you have never dealt with Montecito Bank and Trust. B.O.D. infested with members of the local B'nai Brith. Lethal.

Fri, 09/09/2011 - 12:46 | 1651348 Clorox Cowboy
Clorox Cowboy's picture

I'm always curious what percentage of people posting comments on ZH are secretly bankers themselves?

Fri, 09/09/2011 - 12:50 | 1651368 Temporalist
Temporalist's picture

Does owning gold make one a banker?  They say you can be your own central bank.

Fri, 09/09/2011 - 13:40 | 1651592 NotApplicable
NotApplicable's picture

Not me. I'm just a nerd with a lifelong interest in monetary theory (a.k.a. "Why is this paper shit money anyhow?").

Fri, 09/09/2011 - 12:20 | 1651207 Paper CRUSHer
Paper CRUSHer's picture



Oh-Oh, things are turnin' pretty fugly on the last trading day of the week so i suggest we open the cocktail cabinet and make a refeshing drink to cool off.I recommend my ol' personal favourite recipe called the Grand Slam:

1qt 100%proof bourbon

1/2 qt scotch

3cl cognaic with orange peel

1/4qt clorox

1 teaspoon of castor oil

1 cap. ex.strong mouthwash

garnish with lemon and crushed blackpepper corns

{Best served shaken not spilled}.


Fri, 09/09/2011 - 12:25 | 1651246 TruthInSunshine
TruthInSunshine's picture

Three measures of Gordon’s, one of vodka, half a measure of Kina Lillet. Shake it very well until it’s ice-cold, then add a large slice of lemon-peel.

Fri, 09/09/2011 - 12:53 | 1651387 nyse
nyse's picture

+100 proof

This is actually a pretty good drink. My only addition: crush up a couple two, three Xanax on the back of a toilet and let that dust disolve in the bottom of your favorite frosty glass = Lights oooouutt!!

Fri, 09/09/2011 - 13:14 | 1651486 Oh regional Indian
Oh regional Indian's picture

Is your avataatar you on your drink?

Fri, 09/09/2011 - 13:09 | 1651458 caerus
caerus's picture

i was a little skeptical about the clorox at first...i stand corrected

Fri, 09/09/2011 - 12:20 | 1651208 La Belle Vie
La Belle Vie's picture

Looks like markets are calling Benny's bluff

Fri, 09/09/2011 - 12:21 | 1651209 Zero Govt
Zero Govt's picture

Buffet the bull market darling getting eaten alive in a bear market trap ..he should have read his history

...wave goodbye to Over-Reach of Omaha

Fri, 09/09/2011 - 15:24 | 1652103 Helix6
Helix6's picture

Time will tell.  But Buffett is not stupid.  I'm guessing that he has one of three aces up his sleeve:

  • He has a hedge going somewhere that will generate profits even as his BofA investment tanks.  Perhaps Berkshire has other investments that will benefit from his infusion of cash into BofA, regardless of how his BofA investment plays out.
  • He has inside knowledge that suggests to him that his BofA position will eventually pay off.  Remember, Buffett is not a day trader.  He uses a long time horizon.
  • He understands markets and the Federal Government's response to them better than we do.  He thinks the odds are that BofA will recover on its own or will be backstopped (yet again!) by the Feds, thus making his investment sound.
Fri, 09/09/2011 - 12:21 | 1651213 caerus
caerus's picture

the archimedes of omaha

Fri, 09/09/2011 - 12:23 | 1651220 Ryman1075
Ryman1075's picture

BAC...the Achilles heel of Omaha.

Fri, 09/09/2011 - 12:23 | 1651225 Archimedes
Archimedes's picture


I actually had a brilliant idea in the tub! The sage of Omaha is a fraud, a cheap knockoff if I don't say so myself!

Fri, 09/09/2011 - 12:43 | 1651337 slewie the pi-rat
slewie the pi-rat's picture

yup, but: when people used yer idea to see if the gold was real, the Au-plated tungsten fooled em!

Fri, 09/09/2011 - 13:48 | 1651638 NotApplicable
NotApplicable's picture

So, what you're saying Archimedes, is screw Buffett?

Fri, 09/09/2011 - 12:23 | 1651215 doomandbloom
doomandbloom's picture

The oracle realised after how many years that he was paying less tax than a teacher? dickhead...

Fri, 09/09/2011 - 12:22 | 1651221 1835jackson
1835jackson's picture

warren is fat

Fri, 09/09/2011 - 12:23 | 1651222 monopoly
monopoly's picture

ShadowStats a great site. Been subscribing for 2 years. Cannot believe they allow Jim Rogers on cnbc to tell the truth. Great interview. We all know his thoughts.

Fri, 09/09/2011 - 12:24 | 1651238 doomandbloom
doomandbloom's picture

well great thoughts..but he still is part of this system..perpetuating this myth of wealth...he will have to go too

Fri, 09/09/2011 - 12:23 | 1651230 RobotTrader
RobotTrader's picture



He's gotta get "Bathtub" Becky back into his tub for another "Rub and Tug"....


Fri, 09/09/2011 - 12:59 | 1651423 Kayman
Kayman's picture

Hey Robo

For a guy that frequents Rotten Ronnies (cheap and falling food prices and all) I got a question:

How's the price of antacids ?  Usually takes 5 or 6 to keep the lips and arseholes down. 

Fri, 09/09/2011 - 13:19 | 1651501 destroyer of mo...
destroyer of moonbats's picture


He's gotta get "Bathtub" Becky back into his tub for another "Rub and Tug"....



let me guess. you are either a monegr or lurker on bestgfe. she goes by the name bjbecky just so you

Fri, 09/09/2011 - 13:25 | 1651523 IMA5U
IMA5U's picture

They don't call Becky Quick for nothing...


she is quick to the sack

Fri, 09/09/2011 - 13:32 | 1651550 LongBallsShortBrains
LongBallsShortBrains's picture

Middle name ?




Just WHAT does she do quick?

Fri, 09/09/2011 - 13:43 | 1651615 JohnG
JohnG's picture

Goes down.

Fri, 09/09/2011 - 12:24 | 1651233 Macaco do Mercado
Macaco do Mercado's picture

Warren's warrants have an anti-dilution clause on any BAC capital raise or convertible issuance below where he struck his deal and the low coupon preferreds are allowed to be used to pay for the warrants in-lieu of cash at come I have not seen this on ZH? Libya sells gold to "pay salaries"

Fri, 09/09/2011 - 12:38 | 1651302 Hephasteus
Hephasteus's picture

Looks like I gotta go murder a cop and sell his gun and car to pay my salary. Should probably clean out his house as well. Hope he isn't married with children. Nobody likes buying violent homicide houses. Besides the people who are in on the violent homicides.

Fri, 09/09/2011 - 13:31 | 1651546 unununium
unununium's picture

Libya sells gold to "pay salaries"

That must have been timed to coincide with the peg of the swissie.  They were off by a couple minutes though.

Fri, 09/09/2011 - 22:02 | 1653261 Hephasteus
Hephasteus's picture

No it's worse. I don't think they got ahold of the gold. They probably faked the sale. They are after all rothchilds "rebels". If that's true than france is fucked because france is up to their balls in greek debt. If france folds then it fucks up italy which fucks up ireland which fucks up france more which fucks up portugal which fucks up italy more. The bathtub stopper looks to be pulled on this one.

Somebody show me a gold/euro chart that even fucking hints a 29 tons of gold being sold. Fuck hinting. Show me one that doesn't scream liar in it's face.

Fri, 09/09/2011 - 12:25 | 1651242 monopoly
monopoly's picture

Buffoon needs to retire to an Assisted Living home so he can relax and reminisce about the past. My Dad is in one, poor guy, but he could teach Warren a thing or two.

Fri, 09/09/2011 - 12:26 | 1651249 Thepnr
Thepnr's picture

Daily SPX VIX at it's highest since the start of the Euro crisis in May 2010

Fri, 09/09/2011 - 12:27 | 1651255 machineh
machineh's picture

Warren's five billion was like peeing in the ocean.

Try fifty billion, Mr. Oracle of Omaha ... as a down payment.

Fri, 09/09/2011 - 12:32 | 1651280 Seasmoke
Seasmoke's picture

just dont pee in the bathtub

Fri, 09/09/2011 - 12:27 | 1651256 Atomizer
Atomizer's picture

Grandpa lost his rubber duckie. Squeak Squeeeeek!

Fri, 09/09/2011 - 12:27 | 1651257 RobotTrader
RobotTrader's picture



Copper and Crude Oil crashing big today.

So much for "Peak Oil" and the myth of hyperinflation.

At least the consumer will be getting another tax cut.

Fri, 09/09/2011 - 12:35 | 1651294 Note to self
Note to self's picture

Oh will you please just the the hell up?

Fri, 09/09/2011 - 12:46 | 1651346 Spastica Rex
Spastica Rex's picture



-1 Robutt

Fri, 09/09/2011 - 13:22 | 1651517 High Plains Drifter
High Plains Drifter's picture


Fri, 09/09/2011 - 12:49 | 1651359 Smiddywesson
Smiddywesson's picture

Yes Robo, the Bernak has proven himself very adept at walking the inflation/deflation line.  I doubt he will hyperinflate when he is so skilled at kicking the can.  They will continue to slowly buy up gold until they are ready to bring this abortion to a conclusion and unveil the new abortion of a system that keeps them in power, but with just a smiggen more power than before.  After all, consprictors constrict.

Fri, 09/09/2011 - 13:04 | 1651444 Spitzer
Spitzer's picture

Inflation(expansion of the money supply) that happened yesterday is not static. If inflation was static then house prices would not have fallen.

There doesn't need to be more money printing to have hyperinflation

Fri, 09/09/2011 - 12:48 | 1651361 ozziindaus
ozziindaus's picture

And so is the dollar. Did anyone notice the beutiful bullish wedge the dollar created recently? Now it's payback time.


Theory says that during DEFLATION, best performers are Government Bonds, Dollar and Gold. Reality agrees.

Fri, 09/09/2011 - 12:58 | 1651416 Spitzer
Spitzer's picture

Thats bullshit

How well did the currencies in the Asian financial crisis do when there was huge DEFLATION in 1997 ?

They crashed 60%

As a reminder, the Asian financial crisis, excluding Japan and China involved 440 million people. 100 million more then the US of A.

Fri, 09/09/2011 - 13:25 | 1651522 ozziindaus
ozziindaus's picture

The Japanese crisis has lasted decades, not just one year so on a longer timeframe, the Yen has exploded upwards during 2 decades of deflation. Japanese bonds yield less than shit for the say reasons.  Also note that the Japanese have great access to credit. Unfortunately, nobody wants it. Just a hint of what's going on in the US and A.

Fri, 09/09/2011 - 15:46 | 1652212 Spitzer
Spitzer's picture

Japan had fuck all to do with the Asian financial crisis. The AFC was in 1997, Japan blew up in the late 80's

Fri, 09/09/2011 - 12:55 | 1651397 Spitzer
Spitzer's picture

I agree with you on peak oil Robo, but bond vigilantism has taken the form of gold buying. Its only a matter of time before oil and copper are not priced in dollars.

Fri, 09/09/2011 - 13:08 | 1651451 SheepDog-One
SheepDog-One's picture

All you need is a war breakout in the mid east and oil is back to the highs overnite. None of this day to day nonsense proves anything long term.

As far as anyone knows Oct 1st oil may be $130, Robo sees a 1 day dip and makes macro conclusions, means nothing at all.

Fri, 09/09/2011 - 15:38 | 1652171 Ruffcut
Ruffcut's picture

Damn Robo, are you another bonehead from the planet fuktard?

With your wisdom, you've must of been bullied in school. Now they have bullying laws. The new laws now need exceptions, for special people.


Fri, 09/09/2011 - 12:27 | 1651259 Steroid
Steroid's picture

Oh you talking of Godfather Warren? He sold at $8.

Fri, 09/09/2011 - 12:30 | 1651269 papaswamp
papaswamp's picture

WB is in tax court with the Feds...what better way to get out of it..claim a huge capital loss and get money back. Bet on the bank you know is about to shit it's biscuit.

Fri, 09/09/2011 - 12:32 | 1651277 Caviar Emptor
Caviar Emptor's picture

It was always all about BAC. Memories are short. The whole secret bail to pump up stocks in March 09 was designed so that BAC could do a stealth recap via secondary. Fed also acquired their ugly paper in size.

They're the poster child for everything that went wrong during the boom years and crash of 07-08: Robosigning, improper appraisals, securitization, over-leverage, derivatives, Countrywide and Merrill. 

What a cess-pool

Fri, 09/09/2011 - 13:08 | 1651456 SheepDog-One
SheepDog-One's picture

Yep very good point.

Fri, 09/09/2011 - 13:46 | 1651628 unununium
unununium's picture

Agreed, now the lawsuits are being filed fast and furious before bankruptcy dismisses future claims.

BAC is the garbage can throw-in play, like ACA capital before it.  Not sure it will be the only TBTF that ends up failing though.


Fri, 09/09/2011 - 12:33 | 1651282 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Level buy all the way down Warren, LOL!

Fri, 09/09/2011 - 12:33 | 1651283 digalert
digalert's picture



Kinda gives ya warm fuzzy feeling, don't it?

Fri, 09/09/2011 - 12:33 | 1651284 tahoebumsmith
tahoebumsmith's picture

BAC the black orafice of Omaha...The baby is about to be thrown out with the bathwater. Honestly I'm surprised the 5 Billion dollars worth of heroin has lasted this long.

Fri, 09/09/2011 - 12:33 | 1651285 oogs66
oogs66's picture

a nice big mistake by Warren would be just about perfect, especially as he is now Obama's go to guy :D

Fri, 09/09/2011 - 12:34 | 1651288 abaccus
abaccus's picture

id buy it for 6.75 short it on the bounce buy it again at 6.5 and run with the coming bounce rally then short the shit outta it till its 0 lol

Fri, 09/09/2011 - 12:35 | 1651293 Cdad
Cdad's picture


The RIETs are about to get poleaxed. the whole argument about inflation vs. deflation rages on, the RIETs are the primary recipient of deflation.  The protection of this group by the FED is ending.  Sell them.


Fri, 09/09/2011 - 13:00 | 1651428 Spitzer
Spitzer's picture

RIETS are the darling of the "anything but gold" investors. Its about time they got poleaxed.

Fri, 09/09/2011 - 13:10 | 1651460 SheepDog-One
SheepDog-One's picture

REITs the FED's little darling 'assets' theyve been proping their own R/E 'assets' for ages. Bunch of baboons.

Fri, 09/09/2011 - 12:36 | 1651296 No Mas
No Mas's picture

HEY Tyler!!  I read that an AZ court has upheld MERS.  What does this mean for the all of the foreclosure fraud activity?

I think it means what I have said all along, and that is that all of this fraud will amount to the following:

-Lawyers make money

-Banks make more money

-Displaced homeowners run to section 8

You cannot beat this system.  Everyone dreams.  Everyone thinks this time we'll get them.  Everyone thinks that somehow, someday, justice will be done.

It will not.  The bastards WILL win. 

BAC might fail, but nobody that caused the mess will suffer anything more than the opportunity cost of the extra money they were not able to steal.  Buffet?  BH might take a hit, but hell, he will never know the difference

Now, everyone back to the cause of the day. I'm sure something somewhere is about to fall apart.

Fri, 09/09/2011 - 12:42 | 1651324 Piranhanoia
Piranhanoia's picture

Read it further. The court also instructed the attorney that screwed up the pleading just how to fix it so there is no more MERS.  It is a marvelous takedown of a leaky attorney and a corrupt corporation.  It actually gives everyone instructions on how to defeat a MERS claim.  

Fri, 09/09/2011 - 12:43 | 1651335 Almost Solvent
Almost Solvent's picture

That would only apply to AZ - not any other state.


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