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Come on Tyler...let's have another "Bear Market Open Thread" like two weeks ago. It's Friday.
something tells me you may get your wish.
AND it is a long weekend for 85% of those who are still employeed.
Labor day is a good time to reflect how labor gets screwed over the interest of capitalists' greed: Money > Mankind
I'd actually would like to see some unions thugs fck shit up in DC and NYC.
"I'd actually would like to see some unions thugs fck shit up in DC and NYC."
No problem, the Mets are in town for a three game series against the Nationals this weekend....
FHFA suing Barclays and Merrill Lynch too. Yippee! Next thing you know we'll get the "junk" button back. It was so anti-social.
since we are cleaning house lets bring back the mark to market.
let them eat cake
Buffett invests in horseshit
Quadruple A rated horseshit.
Buffet doesn't invest, or gamble.
He gets the United States government to back his 'rescue' plays. This takes the government off the petard, appears to put him on it instead (private enterprise and all that horses doofers), and when something turns sour WE, as in the taxpayers, reimburse him thru a bailout of the institution.
He can't lose. Doesn't. He makes money regardless of what happens.
Buffett is JP Morgan of this depression....the last bankster standing rescuing his own.
I'm taking the under on that trade
whatever he does, he certainly spews a lot of it.
But only if it's too shitty to fail.
this reeks of desperation (and horseshit)
Talk about desperation... Dick Bove on CNBS just now talking up B of A. There was desperation in his voice. What do those guys have on him anyway? Pictures and credit card receipts to prove whatever indiscretions they have on the poor fool.
"the fury against this company will weaken..." said Dick on 23 August.
I'm not furious, because my puts are on fire.
Dick. Dick? What have you been up to Dick? Ooooooh Diiiiiiiiick...
Hey! As an equine lover and former breeder/rancher I resent the degrading tone toward something as wonderful as horseshit. Many days were spent with an apple rake cleaning stalls to the wonderful aroma and visuals of this fine product. /Rant Off
i too come from a tx ranching family...course i grew up around shit of the bovine variety
What's been fun in the rural boonies is these new hobby horse "farmers" that have moved into the area as the old folks die and their kids split up the big places into mere 20-50 acre lots. They think they're returning to nature and all (it IS nice here). Hosrsehit seems to scare and/or disgust them though. They'll even pay to have it taken away (and will sometimes do the collecting for removal themselves). As an organic gardener - shit by any name can smell pretty sweet in a strange sort of way. HS smells not much at all...
Not all things of value are golden and shiny. How about a large patch of the richest soil on earth, having had many tons a year of organics put on it? Heh.
Meh, still might buy some when it gets to 6. I need a little excitement in my life.
Excellent idea. While you're at it sell your house, car, precious metals and buy NFLX.
Wow, a lot of the funny people here have no sense of humor. What's not to like about being able to buy a share of the biggest bank in the US by assets for about what it costs you to get a supersized value meal?
When you're hungry a whopper always seems like a good idea...until it lands in your stomach like a bag of cement.
A lot of Americans would probably live longer if, say, 1 time in 3 when they were going to buy the whopper they bought a share of BAC instead. Moynihan should do an infomercial.
a little excrement more likely..
having been duped by bernie, i still have clear memories of all the shenanigans, but unfortunately they are expo-facto. What the tracker, which was spun in summer 01 achieved was a monster of a 10k filing which made finding the smelly shit that the board member qouted referred to extremely difficult to find. for anyone interested in forensic accounting pull up the worldcom 2001 10k and go to the footnote concerning lease commitments, magically from year-end 00 to year end 01, lease commitments were reduced (if my memory is correct) by about $5 billion. yet there were no writedowns. when i read this footnote, admittedly after the company was outed, i puked. worldcom put its fraud into its public filings but just made it hard to find. BAC has not been that forthcoming to date.
And if Bernie could have marked to pretend, he wouldn't be in jail today. What a fucking world we live in !
Perhaps if they spin CFC into a SIV...or package up hunks of it into Super Senior, Senior and Investment Grade with AAA ratings on them as the risk is removed from the process...or something.
You forgot the part where the structured bonds get sold to ME sovereign wealth funds and the Chinese government five minutes before the whole thing implodes and they lose their entire investment.
The American way!
Or maybe something like ... re-re-mixes :)
Sign on a stock kiosk, London, during the South Sea's Bubble.
"A most marvelous and profitable undertaking, no one to know what it is."
From: "Extrodinary Popular Delusions And The Madness Of Crowds"
by John Mackay, 1852
i love that book
Bail it out or tanks will be in the street and you'll be eating your own children for dinner because you'll be so poor!! Or so says the bank shills in Congress, the White House and the FED.
...or will the children be dining on you...?
"...than a WorldCom director likened to, well, horseshit."
Spoken like a cityboy...I sell horseshit for $40 a yard. That's $40 more than the BAC's equity is worth. Watch yourself
I could use some actually. My organic matter's pretty low right now. Fall season's comin' up and I might actually get some rain in my garden in TX sometime this year. But that's just wishful thinking.
Easy enough to find, if you're willing to shovel it.
Rain in Texas? What is rain? I live in TX too, and it is hotter than the hinges of the Gates of Hell and three steps closer. Need some horseshit? Shovel up what Perry has been spreading. Ron Paul 2o12!
Shhh. Don't tell my dumbass hobby horse farming neighbors that "it's really good shit, Ms Preske". I'll have to pay then.
And if you charged for the cost of feeding and maintaining a horse, the price would be $400/ yard.
The only thing more expensive that a horse is a ...... (sorry- my wife might read this.)
And cue.....the stock dilution death rattle.Because they do not need capital.
They can't go broke yet, They have furniture I am selling to get my money back at a foreclosure sale on their local branch. POS is rat infested crap that looked bad when it was designed in burnt orange and avocado modern. Am going to keep the safe because it was emptied anyway.
I remember the Sprint - WorldCom buy-out talks back in the day, the whole town of KC thought they were going to have to find work elsewhere, not to mention alll the suits that would have had to relocate to scenic Jackson, MS.
SNIFFFF, Awwwwe I can still smell the panic in the air...
"....existing equity value will drop to about $0.00... or $0.01 tops."
I own BAC Oct Puts.... paid $0.01 yesterday... do I win??
/sarc, but true and with apologies.
Somewhere, out on the Pacific, a very tan man is opening a bottle of champagne that was paid for by someone else's grandmother.
It's always been about BAC. THe March 09 stock market meltup was done so that BAC could recapitalize by doing a secondary. QE and repealing MTM was in large part so they could hide their disasters. They are an ex-bank. They have gone to meet their maker. They have rung down the curtain and joined the choir invisible.
Bath of America
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