Quotes Of The Week... And Friday Humor

Tyler Durden's picture

For our quote of the week, we go to the man who almost brutally cut the meal between breakfast and brunch (it was formerly supposed to be German demand #39 for Greece, but was mysteriously cut in the final draft) in the name of fiscal austerity and setting a shining example of calorific sacrifice. We repeat almost. Quote Busineweek: "No one pays attention to the activation of the CDS." Venizelos told lawmakers in comments broadcast live on state-run Vouli TV........   :0

But wait there is more.

As our bonus quote of the week, we go to the man who, speaking of eating, just slurped right back up the very same toxic vomit that blew up the prior iteration of his company, after the NYT earlier announced that AIG has now repurchased $2 billion of the same bonds (read Maiden Lane II) that blew up not only it but the entire financial system, from the same Fed that bailed it out by force buying these bonds from AIG in the first place. The same bailed out AIG which yesterday disclosed it will never pay taxes to the US Treasury ever again. Couretesy of Fox Business: "American International Group CEO Robert Benmosche spoke with FOX Business Network’s (FBN) Neil Cavuto about the government bailout of AIG in 2008 and the health of the company today after releasing their fourth quarter earnings. When asked if the government would bail out banks as they did during the financial crisis today, Benmosche said “I don’t think we would.” He went on to say “the financial system today is sounder than ever before.

Poor George Santayana is spinning at 852 quadrillion RPM in his grave.

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Badabing's picture

smell my finger

prains's picture

twat are you talking about

TruthInSunshine's picture
02-24 15:15: Fed's Dudley says Fed has not engaged in any fiscal actions, and...



Fed's Dudley says Fed has not engaged in any fiscal actions, and Fed policy has been about the economy and financial stability




(Does that include Zeee Price Stabiliteeeee?)


NotApplicable's picture

Anybody care to define "fiscal actions" in such a way that this statement holds true?

slewie the pi-rat's picture

fiscal actions = hanky panky at the banky (trust us)

Herd Redirection Committee's picture

Check out the latest from the Capital Research Institute, "Time to Break Up the Media Monopoly"


"As everyone knows by now, the US election cycle is in full swing.  Concerned about the economy?  The welfare of the nation?  What kind of country your grandkids will grow up in?  If you listen to the mainstream media (msm) then you 'know' the answer is to choose a political party, stick with them, and everything will work out fine...  The problem is, this couldn't be further from the truth.  The political parties no longer serve the people..."


Manthong's picture

They do not deserve the dignity and mercy of the guillotine.

Calmyourself's picture

I don't care how you do 'em just don't give them any last words, they'll rehypothecate the executioners hood..

IndicaTive's picture

"No one pays attention to the activation of the CDS,"  He repeated over and over before stating "They pointed the gun right here! I shit you not! Right here!....So I repeat..."NO ONE pays pay attention to the activation of the CDS."

123dobryden's picture

yes, sure there was a time when political parties served the people, but i forgot what year that was, the only working political system is that Ants developed.

johnQpublic's picture

 define "fiscal actions" in such a way that this statement holds true



anything good for the american public at large


YC2's picture

monetary policy is not fiscal policy.

non_anon's picture

watch the birdie not my lips

whatsinaname's picture

Anybody have a link on the AIG buying back Maiden Lane assets news ?

slaughterer's picture

Venizelos is, in part, right: at 3-3.5b net, the CDS market for Greece is relatively insignificant.   It is only really the subsequent disturbance in the OTC derivative market that would be the danger if rating agencies issued a default notice on the bonds.   

hedgeless_horseman's picture



Assuming they play by the rules, which is a terrible assumption.  The banks have had plenty of time to offload risk and shit to the taxpayers.  Bookies have layed off risk for years.  Warren's reinsurance business, too.  I think Slaughterer and fatass are probably right.  US banks have much bigger problems, now, and so do European banks, starting with the breaking tsunami of interest rate risk set to hit the global coast.

Mark Carney's picture

Has the derivitives market hit the $quadrillion target yet?

UP Forester's picture

Does it matter?

How many angels can dance on the head of a pin?

How many unicorns does it take to shit out a ton of skittles per day?

NoClueSneaker's picture

Sehr wahrscheinlich ... Afterburner kicked, there were 707 Trillions in July ...

( At least 250 Bn. more right now ).

Dr. Richard Head's picture

Doesthis have to do with anything? http://www.veteranstoday.com/2012/02/21/intel-exclusive-trillion-dollar-terror-exposed/

House of Lords Speach from February 20, 2012. 

Bush, Fed, Europe Banks in $15 Trillion Fraud, All Documented


macholatte's picture

Question:  If the face value of Greek bonds is cut by 70%, which does not trigger a "credit event" leaving the CDS intact, then does the face value of the CDS also get cut?

Seems to me that a "voluntary" reduction in value would be justification for the CDS to also be reduced. 


johnQpublic's picture

dont know, as i havent been paying attention

number cruncher's picture

tyler... time to revisit this story and address felix salmons reponse on reuters.here is also an article in the new lyork times that seems to point out some professor saying its just potatoes and dismissing the notion.

redpill's picture

Net is irrelevant when the counterparty can't pay.

JPM Hater001's picture

Agreed.  Let's I have 5 girlfriend but if sleeping with any one (net of 5) of them results in breaking up with the other four and then kicked in the nuts by the 5th do you really have 5 girlfriends or the tough choice of which one you want to kick you in the nuts?

LoneCapitalist's picture

If you learn anything from ZH it should be that " when a default occurs GROSS BECOMES NET"

battle axe's picture

Don't pay attention to the CDS market, because if that gets triggered there will not be any chance of a Domino effect because  the banks know what  they are doing and are so well capitalized. Also I will not blow my load in your mouth, trust me. 

Eisenhorn's picture

"No one that matters pays attention to the activation of the CDS."


The bankster overlords can just ignore reality apparently.


StychoKiller's picture

The Fraud is strong with the Banksters...

persu's picture

Again, ZH proves to be amazing. What about the fake bonds in zurich? All news are so strange that I start to believe all 2012 conspiracy bullshit anyone just invents.

StychoKiller's picture

Convictions create convicts -- what is reality?

connda's picture

"I'm going to fuck myself in the head: Long live the new flesh!"

putaipan's picture

is he giving me the M.I.A secret superbowl hand signal?

NotApplicable's picture

Though unlike M.I.A., he has nary a single fuck to give.

StychoKiller's picture

That finger is saying, "Operation Mindfsck is continuing..."

Dr. Richard Head's picture

Bad Lip Reading of Ron Paul - "Free bananas" - http://www.youtube.com/watch?v=WvahywQKeFc&ob=av3e

Since it is Friday humor and all.

Big Fish's picture

easy easy money for nothin


easy easy chicks for free

The trend is your friend's picture

sounder then ever....we're doomed

JohnKozac's picture



"Heck w/ those measly 7 course dinners!.......Point me to the Buffet!!!!!"

trade the day's picture

How did you get voted up 100 times already?!? I demand a recount bitchez

redpill's picture

"No one pays attention to the activation of the CDS."


How do you even say that with a straight face?

NotApplicable's picture

"Pay no attention to the CDS activations behind the curtain!"

MsCreant's picture

These are not the CDS activations you are looking for. You may move on now.