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Mr Pink Is Back: Dan Loeb Joins Steve Wynn, Launches All Out Attack On Classwarfaremongerer-In-Chief

Tyler Durden's picture




 

Ah, it sure is good to have good old Mr. Pink back "The budget is not the only thing in deficit today, as a paucity of leadership has left the country without a stable framework in which businesses can conduct business, investors can invest, and consumers can consume without a high degree of uncertainty and fear. Politically charged statements and brinkmanship have served to deepen divisiveness between the parties and led to confusion and fear among citizens. There has been much said about who is allegedly the "adult in the room," but President Obama has yet to speak to Americans as adults, insisting instead on his preferred technique - stirring up class warfare. Scaring senior citizens about the possibility of not receiving their Social Security and Medicare checks, lambasting the corporate jet industry, and calling for higher taxes on managers of private partnerships is not a constructive approach to handling a complex multi-trillion dollar problem that will have a multi-generational impact." Read on below.

 

 

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Mon, 07/25/2011 - 10:23 | 1490355 papaswamp
papaswamp's picture


CME Raises Margin Requirements On Treasuries, Effective COB Today.

 

ruhroh...this isn't good.

Mon, 07/25/2011 - 10:29 | 1490379 A Man without Q...
A Man without Qualities's picture

This may explain the weakness on bank stocks.  Genuinely, this could lead to big problems in the swaps market...

Mon, 07/25/2011 - 10:40 | 1490413 TruthInSunshine
TruthInSunshine's picture

Systemic risk, bitchez.

Listen, remember when I was ranting about how ridiculous the EuroMeet on Friday was, whereby Merkel & Sarkozy were puffing out their chests/breasts and proclaiming they would not let a single EU Member default on their debt?

Well, the damndest things have happened since (i.e. in less than one trading day).

Greece has now effectively defaulted on some portion of its debt, and Portugal will soon follow (and Spain, then Italy will follow them).

And, oh yeah, the reason this is especially funny is that the "weakest link" in the AAA Euro chain is now officially France:

 

Analysis: France weakest link in the euro's AAA chain | Reuters

 

Anyways, aside from things such as rampant euro printing, which is now underway, and QE2 officially launched in Britain soon (presumably using the pound as the lubricant of choice), it's highly amusing that France is one of the two "pillars" that will spare EU Members from default, as their own economy and debt realities only begin to start frightening those who care to look under their hood (and frightened they should be).

Mon, 07/25/2011 - 11:02 | 1490471 DosZap
DosZap's picture

THE FED

Amazing Merkel is so stupid she does not pull Germany outm of this debacle before she DESTROYS one of the only remaining working economies left on the GLOBE.

And I am not German.

Mon, 07/25/2011 - 11:34 | 1490624 RockyRacoon
RockyRacoon's picture

Wow.  France.   Just the mention of the word "austerity" in France and they'll burn the place down.   They have a lot further to go than even the U. S.   It would not be pretty.

Mon, 07/25/2011 - 10:29 | 1490361 Cognitive Dissonance
Cognitive Dissonance's picture

Mr. Pink, meet Mr. Black. Mr. Black, Mr. Pink.

http://en.wikipedia.org/wiki/Reservoir_Dogs

Dogs

Mon, 07/25/2011 - 11:15 | 1490553 Boba Fiat
Boba Fiat's picture

That's actually Mr. White (standing).

Mon, 07/25/2011 - 12:12 | 1490770 cosmictrainwreck
cosmictrainwreck's picture

good one, CD.... see if you can find one with two douche-bags facing off, each with a gun to his own head.... lulz. Maybe not apprpos here, but surely on some thread somewhere. Eureka: hey wmbanzai....Boner v Obummer

Mon, 07/25/2011 - 10:28 | 1490370 Arch Duke Ferdinand
Arch Duke Ferdinand's picture

Broke! TenFacts About The Financial Condition Of American Families That Will Blow Your Mind...

http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/07/broke-10-fact...

OT: Hilarious 2 Min Vid...

http://www.youtube.com/watch?v=W0Uju3tYS2s

Mon, 07/25/2011 - 10:29 | 1490375 Spastica Rex
Spastica Rex's picture

There they go again - more war on class warfare.

Mon, 07/25/2011 - 10:29 | 1490376 Sudden Debt
Sudden Debt's picture

I hate people who constantly complain.

It only shows that they are weak and unable to perform.

AMERIKA! YOUR LAST 4 PRESIDENTS SUCKED! BIGTIME!

THEY ARE ALMOST AS BAD AS OUR EUROPEAN LEADERS!

 

Mon, 07/25/2011 - 10:51 | 1490444 DosZap
DosZap's picture

SD.

Worse,they had more POWER.

Mon, 07/25/2011 - 10:34 | 1490384 Bob
Bob's picture

I'd like to hear him cry a river about eliminating the tax favored status of capital gains and imposing a market transaction tax.

But that would be evil--evil, I say!--and not "serious," not "adult," not enlightened treatment of "job creators," and so on. 

What a crock of shit.  If it doesn't serve the financial industry, it don't fly.  Period. 

Let's scream about "class warfare" where clearly only one side is represented. 

Mon, 07/25/2011 - 10:37 | 1490396 Cvillian
Cvillian's picture

+1. I can't see why these guys wouldn't continue to operate in America even if capital gains taxes go higher and market transactions taxes are enacted. The economics are absurd. Many of them have a hard time just leaving NYC.

Mon, 07/25/2011 - 10:42 | 1490412 Global Hunter
Global Hunter's picture

taxation isn't the answer either, at Federal level the state has forced its citizens under threat of violence or imprisonment to pay taxes which now equate to nearly 50% of income (when you include state and federal) for a regular lower or middle class working stiff.  The whole concept of income tax to pay for government programs and jobs is a corrupt and unsustainable one.  

Unless you're proposing a tax that directly pays down the debt then the idea of more taxes on a population that gives nearly and in some cases more than half their money each year to a bunch of thugs is an unjust one, and the reason why we're in this situation to start with. 

To put it another way, you'd trust those narcissistic children in Washington DC to do the right thing with the money?  They haven't in the last 100 years so why suddenly would they behave morally now?

Mon, 07/25/2011 - 10:43 | 1490420 Spastica Rex
Spastica Rex's picture

How did the US economy perform under Ronald Reagn? What were the tax rates then?

Mon, 07/25/2011 - 15:08 | 1491504 GoinFawr
GoinFawr's picture

<does doubletake> was that a trick question?

Debt ballooned, the US began offshoring all its manufacturing jobs, CPI had its first taste of hocus pocus on its way to utter irrelevance except as a tool to manipulate public perception, US started down the path of moving from creditor nation to debtor nation...should I continue?

Tue, 07/26/2011 - 09:27 | 1494046 Spastica Rex
Spastica Rex's picture

Yeah, it was.

So, at what point was the American economy "healthy?"

Wed, 07/27/2011 - 04:23 | 1495550 GoinFawr
GoinFawr's picture

<checks over shoulder for come-from-behind sucker punch>

During the mid 19th century to the very early years of the 20th? That is as `healthy` a period as I know of; at all times that the `metal standard` of that era wasn`t being undermined, anyway.

Wed, 07/27/2011 - 10:43 | 1497737 Spastica Rex
Spastica Rex's picture

Fair enough. As an inhabitant of the WIld West, I would mostly agree. It wasn't "healthy" for everyone and required a virtual apartheid system to provide cheap labor, but that's no different than the present time.

The tax rate as a marker of economic health is a red herring, IMO.

Mon, 07/25/2011 - 10:58 | 1490480 Bob
Bob's picture

Taxes seem to me the simplest means of bringing a little sanity to the "wealth creating" charade that is our capital markets.  Sure, we could attack the underlying problems, say, eliminate the Fed, but that's way beyond our reach. 

We can't even expect them to stop the trillion dollar war machine or TBTF at this point.  The fact is that it is the financial markets that benefit from TBTF . . . let those "winners" pay for that support via taxes at the same rate as the rest of society. 

We don't even have to get into the question of what constructive purpose the financial industry actually serves at this point.  Simple fairness alone covers it. 

Would politicans continue to increase spending?  With revenue mechanisms that made sense, a balanced budget ammendment would not be such a divisive issue, imo. 

Mon, 07/25/2011 - 10:34 | 1490389 snowball777
snowball777's picture

Aww... the paper pusher got his feelings hurt because someone said he should pay taxes too.

Why should Americans that actually work for a living subsidize this assclown's tax bill?

Raise rates on cap gains, corporations, and hedge hogs. Lower them on individuals.

 

Mon, 07/25/2011 - 11:11 | 1490537 Sophist Economicus
Sophist Economicus's picture

Yup, it's this kind of 'deep thinking' that will solve the problem

Mon, 07/25/2011 - 13:04 | 1491021 snowball777
snowball777's picture

Oh, you only appreciate socialism for the three-comma crowd. How enlightened of you.

Mon, 07/25/2011 - 13:13 | 1491054 Bananamerican
Bananamerican's picture

i admit i've become prejudiced against rich people...when i see a rich person, i don't say to myself, "there goes a muscular genius of capitalism"...For the most part i wonder, "who did that guy; cheat, fuck over, bribe, scam, embezzle, con, pimp, kickback to, or inherit from?"

Fuck  the  rich

Mon, 07/25/2011 - 16:23 | 1491806 snowball777
snowball777's picture

I've got no problem with rich people; some of my friends are rich people! <rimshot>

What I have a problem with is differential taxation of some rich people over others.

Mon, 07/25/2011 - 11:12 | 1490543 GeneMarchbanks
GeneMarchbanks's picture

Last I checked, corporations are individuals. Or at least that's the line they are selling. Of course the guy is talking his book, aren't most people that have much to lose from veering off from the Status Quo?

Mon, 07/25/2011 - 13:45 | 1491145 Buckaroo Banzai
Buckaroo Banzai's picture

You are EXACTLY right. In fact, I'll go you one better: ELIMINATE income taxes on natural persons. Why? Because this country was founded on the principle of FREEDOM, and and income tax is not consistent with that principle. How can one be FREE if the fruits of one's labors benefit some other entity FIRST? You are a slave, by definition.

Artificial persons, on the other hand, depend 100% on the state for their very existence. They should pay handsomely for that privilege.

Mon, 07/25/2011 - 18:59 | 1492341 poor fella
poor fella's picture

OOOOOOOOOOOOOOOOOoooooooooooooooooo!!!!!!!!!! I like it!

Mon, 07/25/2011 - 13:46 | 1491146 Buckaroo Banzai
Buckaroo Banzai's picture

You are EXACTLY right. In fact, I'll go you one better: ELIMINATE income taxes on natural persons. Why? Because this country was founded on the principle of FREEDOM, and and income tax is not consistent with that principle. How can one be FREE if the fruits of one's labors benefit some other entity FIRST? You are a slave, by definition.

Artificial persons (i.e. corporations, LLCs, etc.), on the other hand, depend 100% on the state for their very existence. They should pay handsomely for that privilege.

Mon, 07/25/2011 - 10:40 | 1490414 spartan117
spartan117's picture

How about everybody pay the same tax rate?  Get rid of all subsidies, deductions, etc.?  Simplify that damn tax code, and eliminate most of the IRS.

Mon, 07/25/2011 - 10:45 | 1490423 snowball777
snowball777's picture

At 20% across the board? ;)

Mon, 07/25/2011 - 11:04 | 1490504 Silver Dreamer
Silver Dreamer's picture

How about the federal government getting back into the box it was meant to be kept in, and none of us, as individuals, pay any freakin' taxes at all?

Mon, 07/25/2011 - 13:05 | 1491024 tsx500
tsx500's picture

+1615.20

Mon, 07/25/2011 - 15:13 | 1491541 GoinFawr
GoinFawr's picture

MIC(key)Mauser wouldn't like that. How would the jolly green giants roaming the earth sticking their 'privates' into hornets' nests pay for their guns?

Mon, 07/25/2011 - 10:52 | 1490458 Cthonic
Cthonic's picture

Totally off topic, but I really really detest scribd; intentionally garbled cut n paste, required download registration, now they're hiring people with titles like "monetization engineer". That's right webmonkeys, their bandwidth won't always be free.

 

 

Mon, 07/25/2011 - 10:54 | 1490470 Atlantis Consigliore
Atlantis Consigliore's picture

15%  flat tax, no deductions, on EVERYONE, no earned income tax credit,  no AMT, no nothing.  for individuals and Corps.

 

bal budget amendment w/ election 2012  at 15%  SAME number.

 

watch the POLS and lobbyists in WASHINgCrooks Squirm.

 

15%  or NO DEAL,  on everything.

 

simple, fair, and enforceable on the crooks.

Mon, 07/25/2011 - 11:07 | 1490520 fuu
fuu's picture

No.

That is a distraction.

Government should not need to tax. We went decades without an income tax in the US.

We need to cut spending at all levels by 99.9%

Mon, 07/25/2011 - 11:04 | 1490506 SheepDog-One
SheepDog-One's picture

We've got petulant spoiled children at the helm, and people expect market sugar to be poured everywhere from the great magic spigot. Totaly insane.

Mon, 07/25/2011 - 11:06 | 1490515 DosZap
DosZap's picture

This new format, is not good,IMHO.......if you edit spelling, it does not correct it,no cut and paste,pls go back to the other way.

Offer a way to help US pay for the site and PLEASE  do not use Pay Pal.

Seems the Headers just eat more bandwidth......but it's your site, and I appreciate the info.

Mon, 07/25/2011 - 11:12 | 1490540 poor fella
poor fella's picture

As long as he has one hand on a lifeboat -
wealth re-distribution BAD
jobs re-distribution GOOD

Mon, 07/25/2011 - 11:29 | 1490597 granolageek
granolageek's picture

It's all garbage. The courts say that corporations are people, and that corporations are required to do whatever it takes to maximize shareholder value without respect to destroying the society in which they flourish. We keep well locked up hospitals for two legged people that think that way. But corporations are exempt. The ZH loonies think that is cool.

That is insane. Sauve qui peut.

Mon, 07/25/2011 - 11:54 | 1490697 MrBoompi
MrBoompi's picture

Why not scare old people?  Who do you rhink would get paid first, bondholders or SS recipients?

It's rediculous.  Bernanke seemed to have no problem creating all the required "funds" to give to bankers around the world, but regular folks can just go die in the streets. 

The elites can be taken care of WITHOUT Congressional interference.  The rest of us must rely on Congress.

Mon, 07/25/2011 - 12:36 | 1490867 Mr Kurtz
Mr Kurtz's picture

I guess I missed the point of this article. Other then a few ad hominum right wing talking points and self serving crowings re: positioning themselves in the Ag markets and going "long" on Sara Lee, I fail to see the relevancy. Besides, what kind of corporate talking head script writer releases a quarterly report with a leading intro dedicated to Led Zeppelin?

Mon, 07/25/2011 - 12:47 | 1490939 Hacksaw
Hacksaw's picture

Besides, what kind of corporate talking head script writer releases a quarterly report with a leading intro dedicated to Led Zeppelin?

An immature moronic one.

Mon, 07/25/2011 - 12:40 | 1490880 Hacksaw
Hacksaw's picture

It looks like some of the financial industry boys are getting a little concerned. Class warfare was ok as long as only one side, their side, was engaged, now that the other side is starting to engage they aren't as happy. They don't seem to get it, the tired old Beck sound bites about class warfare don't resonate with as many folks as they once did. I know I can't be the only one who once would have agreed with the claim of class warfare, but then saw the light when those at the top took all the life boats and left the rest of us to go down with the ship, when we hit this iceberg.

 

Mon, 07/25/2011 - 13:49 | 1491135 bankruptcylawyer
bankruptcylawyer's picture

steve wynn, the ultimate wall street liar. 

 

he defrauds his his investors year after year by diluting his own stock in his company massivley. why? so he can take compensation through stock sales to pay lower taxes by way of capital gains. so he is screwing the u.s. treasury as well. 

then, when financial bubble explodes, the stock of his gambling casino business which is based on selling addictive substances goes to nearly zero . obama bails out the banks which promptly send his stock to the moon, and then he complains that this man is screwing him over?

wynn is a remorseless class warfare mongering greedy bastard who would be fine with watching millions of people starve to death so long as they gambled away their money at his casino. he is horrible and dangerous human being who not only refuses to recognize he makes his fortune off of human misery, but embraces the profitable path of living off of other people's pain and suffering and then supports those are willing to join him in this crusade. 

i'm really not a big fan of 'revolution' or the other nonsense that people frequently spout on about supporting on this website. but steve wynn is definitley on the list of people who should be placed on the guillotine line (if it ever comes to that) . and i'm sure when things go bad in china, that the chinese will have their minions in macao waiting to dismember this man and his assets. and then , just you wait, he will come running back to the u.s. government asking for them to intervene on his behalf, to use our military threat payed for with public blood and dollars, to protect his assets in china, for which he pays NO taxes to the u.s. 

 

it's just really outrageious behavior. angelo mozillo, joe cassano, wynn is definitley up there with these fellows. 

Mon, 07/25/2011 - 14:35 | 1491336 Lord Koos
Lord Koos's picture

The whining of rich folks always turns my stomach.

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