Along an Upcoming Event Horizon...
For the "War on graft is, indeed, lost".
Thus you will now be plunged deeper into despair with
heightening fears that the country is already
thrust into a recession. but their running like hell
trying to cover it up... the next phase of told ya all so
big run up hyperinflation & huge sell offs, pay offs,
bought offs, buy offs, jerk offs & more big job
loss offs on the way! Plus Rusted Year of Dusted Whey
on The Way & Will Weight Heavily On The Epath...
Wall Street Like The Homes & Morgage deal Thought...
There was a sense that the market would cool a bit --
For They didn't think there was a sense it would crash.
And it crashed."
The main problem leading to the national housing crisis has been a lack of regulation, oversight and legislation that protect homebuyers from predatory mortgage companies.
Thus Contrary to popular belief the main culprit has not been the extension of credit to the “credit unworthy.” Rather, the main culprit in this crisis is exotic loans destined toward default. Data is beginning to reveal that it was not only, not even mainly, the credit unworthy taking out exotic mortgages. Rather many middle- and upper-middle-class people with good credit took out exotic mortgages.
Thus Creating “under water” Effect — owing more on the mortgage than
they could get by selling their home...
So Thus Begins Phase In "THE CLASH" Of Values Ahead With...
A "Rock the Casbah Bubble Bursting Big Crash Blast Alert!!
Thus By Order of the Passionsword Prophet...
We Are Now Entering Into Winter Phase 1 Casbah
Warning Period That states... it's surely high time...
To Feel The Wind a' changing direction!
While The $$$$ Junk RiP Offs , Cover-Up Pay Offs, Media Play Offs,
& Corporate Make Offs Continue On & On unabated & Unabashed!
So Ready Now To "let that raga drop" &...
Rock the Casbah" is a song by The Clash,
released on their 1982 album Combat Rock.
Origins of the song
One theory is that the song was inspired by the banning of rock music in Iran under Ayatollah Khomeini. The song gives a fabulist account of the ban being defied by the population, who proceed to "rock the casbah". The King orders jet fighters to bomb any people in violation of the ban. The pilots ignore the orders, and instead play rock music on their cockpit radios.
The song does not mention Iran or any other Islamic nation by name. The lyrics include a mixture of Arabic, Hebrew, Hindi, and North African terms such as sharif, bedouin, sheikh, kosher, raga, muezzin, and casbah
Thus "Rock the Casbah" may be the Clash's most memorable song. Filmed in Austin, Texas, it depicts an Arab and an Hasidic Jew skanking together through the streets, often followed by an armadillo, interspersed with the band performing in front of an oil well. The humorous tone of the video fits the song, although it is easy to read the antics of the Arab and Jew as a desire for better relations between Israelis and Arabs.
Political impact
The song became an unofficial anthem for U.S. forces during the first Gulf War, largely on the basis of the line about dropping "bombs between the minarets". It was the first song played by Armed Forces Radio at the start of the war. This is ironic given the band's well established left-wing stance. Conservatives counter that it is entirely appropriate, since "rocking the casbah" (with bombs) was seen as one of the objectives of the U.S. military effort, although it is worth noting that the jet fighters described in the song disobey their orders to bomb the casbah in favor of "rocking" to the music. The song can also be understood as a message that western rock and roll will help defeat radical Islamist regimes by winning over the people of the Middle East, especially the young.
Rock the Casbah - The Clash
Now the king told the boogie men
You have to let that raga drop
The oil down the desert way
Has been shakin' to the top
The sheik he drove his Cadillac
He went a-cruisin' down the ville
The muezzin was a' standing
On the radiator grille
CHORUS:
The shareef don't like it
Rockin' the Casbah
Rock the Casbah
The shareef don't like it
Rockin' the Casbah
Rock the Casbah
By order of the prophet
We ban that boogie sound
Degenerate the faithful
With that crazy Casbah sound
But the Bedouin they brought out
The electric camel drum
The local guitar picker
Got his guitar picking thumb
As soon as the shareef
Had cleared the square
They began to wail
Now over at the temple
Oh! They really pack 'em in
The in crowd say it's cool
To dig this chanting thing
But as the wind changed direction
The temple band took five
The crowd caught a whiff
Of that crazy Casbah jive
The king called up his jet fighters
He said you better earn your pay
Drop your bombs between the minarets
Down the Casbah way
As soon as the shareef was
Chauffeured outta there
The jet pilots tuned to
The cockpit radio blare
As soon as the shareef was
Outta their hair
The jet pilots wailed
CHORUS:
The shareef don't like it
Rockin' the Casbah
Rock the Casbah
The shareef don't like it
Rockin' the Casbah
Rock the Casbah
He thinks it's not kosher
Fundamentally he can't take it
You know he really hates it
Well,Well, Oily Wells
to right back Here at Home...
Thus An oily Warning To Those INVESTED...
Better Sell some of It Off Now OR
LOSE IT ALL LATER!!!BOTTOM OUT LINE
Incoming An UpComing REALIZATION...
especially For The Generations to Come Who
in The End Will Pay Heavy Duty For This
Boomer Generations Heavy duty Excesses Fraud
Corruption, mismanagement & outright thievery.
Large inequalities imply problems. Exchange rates have been pegged at levels preventing correction of a trade imbalance.
The trade deficit must be foreign income or transfers, or a capital account surplus. This takes into account investment and purchases of stocks, bonds etc. Foreign liabilities tend to exacerbate already-extant savings-investment issues.
Those in favor of the deficit point to this as the source. Buyers in the receiving country send the money back. A firm in America sends dollars for Brazilian sugarcane, and the Brazilian receivers use the money to buy stock in an American company. Although this is a form of capital account reinvestment, it is not a liability on anyone in America.
Such payments to foreigners have intergenerational effects: by shifting the consumption schedule over time, some generations may gain and others lose.
However, a trade deficit may incur consumption in the future if it is financed by profitable domestic investment, in excess of that paid on the net foreign debts. Similarly, an excess on the current account shifts consumption to future generations
While Listening Closely To The New Hums Of...
The Impending Clash Class Crash a Coming!
AS WELL AS DIVIDEND IN TH END SLASHING TIME!!!
Let The Blood Letting Flow On WALL STREET, As many
Jobs Now Will Be Lost...Told Ya so Long Before This...
Rocken The Cash-Bar Blog Blast...Thus...
Nerves Fray On Wall Street Big Time...
Better bring it on Down Now...
For Soonerwill hurt a little less than
The Big "Or later" pain will hurt worse!!
Getting our Big Plunge drift!
wHEN iT gets this long IN the tooth,
it's TIME to look out below...
Many Unhappy Returns now Be with You
Ha Ha Ha ha Ha Ha Ha Ha Ha Ha Ha HA hA...
lOOK OUt fOR freee falLing recESSION criMe tIME...
can You also Say C.M.O. Scams & Hedge fund whams!
what a Big Blow It Up More 2007 Bubble In Greed Year...
In April, the Dow barreled above 13,000 for the first time
and then glided past 14,000 in mid-July. not to mention oil's
jump this year of about 60 percent to nearly $100 a barrel,
and the U.S. dollar's tumble to record lows against the euro.
The problem was, these pieces of debt were chopped up, repackaged and woven into larger fixed-income instruments, on which banks and other investors made billion-dollar bets -- bets that were extremely profitable during the housing boom, but calamitous when borrowers couldn't keep up with their mortgage payments. When one slice of the instrument defaulted, it pulled the whole thing down with it.
Investors bailed out of anything tied to mortgages, and soon Wall Street realized that financial institutions in the United States and overseas were holding billions of dollars in assets that were losing value by the day. The biggest names on the Street -- Merrill Lynch, Citigroup Inc., Bear Stearns Cos. -- announced billions of dollars in writedowns. Merrill and Citi lost their CEOs, and several financial firms needed billion-dollar investments to clean up their balance sheets.
As They still try to glide on & Run The Roll with
their greed stained satan ridden Over-Promotionals.
Plus Worthless Over Printed Balk Bills
The discount rates reflect that the bills
sell for less than face value...
Covering For The Loss of Face value credability Crunch.
There is nothing there to justify you wall street junkies
keeping it up that high above 12,000 let alone above 13,000.
keep faking it all over the place of over-priced is all wrong
but your going to try to keep a lid on it, Ha, cover-up
as much as you can before the real big sinking occurs...
please stay the course so it will hurt even more later on.
Leverage as thy will for the imbalanced slide will occur
when the throngs of want rip out the strong of heart.
Hell your being bailed out, auctioned off, & Let Loose.
You all won't stop & can't stop in your greed laden minds.
Good your wrecking it for oh so many many more now.
Interest rates on short-term Treasury bills rose in
Monday's auction to their highest levels in more than a month.
The Treasury Department auctioned $20 billion in three-month bills at a discount rate of 3.280 percent, up from 3.000 percent last week. Another $19 billion in six-month bills was auctioned at a discount rate of 3.490 percent, up from 3.280 percent last week.The three-month rate was the highest since three-month bills averaged 3.390 percent on Nov. 19. The six-month rate was the highest since these bills averaged 3.625 percent on Nov. 13.The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,917.09 while the six-month price was $9,823.56.
Investor expectations, neither bullish nor bearish, are flat, indicating that investors can't make up their mind about the recession because they can't see it. Don't wait for the National Bureau of Economic Recession (their Business Cycle Dating Committee is the body that officially calls a recession) to tell you that we're in one, because they ordinarily wait until economic activity has fallen for six months. By then, it's too late--the stock market will have sagged.
Strong, credible allegations of high-level criminal activity can bring down a government. When the government lacks an effective, fact-based defense, other techniques must be employed. The success of these techniques depends heavily upon a cooperative, compliant press and a mere token opposition party.
Dummy up. If it's not reported, if it's not news, it didn't happen.
Wax indignant. This is also known as the "How dare you?" gambit.
Now Here's The Real Deal "Rock the Casbah" Bottom Line...
It's CALLED DONE UP IN FRAUDULENT DESPERATION...So...
MARK THESE WORDS GOOD NOW>>>
Either it's take now the 2,500 + point recorrection Needed Now Or Lose Much More Later In a Big 5,000 Point Bubble Blasting Big Burst A Coming...
Your choice of cover-up to cover your alls arses in the here & Now & lose much more in the future or come clean & Do The Right Correction Thing NOW!!!
There's nothing There To keep it above 11,000 right now & you all know it...
Much more BIGGER RIGHT DOWNS ON THE WAY PLUS PLUS PLUS!!!
Plus go on further Keeping on...by selling THE PUT
as a way of pocketing that premium on pure packed in swing...
As The swing Of a New Wind Changing direction Occurs...
so We will see how long that willing to bet pace can keep all those
barking hound options traders who really don't care about anything
but that premium pocketing, just wait till theres nothing there to
PUT in their greed stained empty pockets. So go on keeping on,
as they hedge their positions to protect against more plunges...
So We will see the big expiring on Jan. 18,!!!
FEELING A ROCK In The Ol' Cash-bar moment at hand
Rock the Casbah - A "Save Face" Concept For Business is
Not Only Business But I fought The Law & The Law Won Whifff!!
If any question why we died
Tell them because our fathers lied.
- Kipling
A Big $$$$ And Interest BaND At Hand, Thus
Re-Igniting Cultural Business Clashes For
Power. And Thus Begins anew...
Rock N' Cashba Credit Crunch Crime Wave...
oh and wave a Big GoodBye to any brighter future prospects
ya thought you might a had...Feeling Had at hand by
All Those UNDER-hand Rocken The Cash-Bar Inverted GrEEVES<<<<
But they are again playing it on down....Great for we can now
see a bigger Plunge alooming on an upcoming Future Event Horizon!
Thus...
Can You see an Big External "US" cultural clash here There general
As Well as An internal cultural Clashing Going On Between They Themselves!
Plus all That Inverted Cash-bar Money Invested In
all Those Over Priced Oil Profit faked Up & Down invenTORIES!!!
DID SOMEONE GET A WHIFF OF THAT CRAZY TORY CASH_BAR WHIFF DRIFT!!!
As Morgan Stanley Sets Price Range for Stake Sale to China Investment Corp.
HA HA HA HA What Prickles!!! & Merrily running mErrily AlOnG back To
BiG pOcKeTs DadDy FoR Mo' CaSh-Bar $$$$ To PrOp thEM uP.
As Well as our own Back At Home Internal Class Cash clash
Over all This Iraq oil stuff, its aftermath & Consequences'
As Well as many other Bloody matters from Out of The mentally caduceus!!
But Was It Really all That Worth It...anymore... in the first place...
For Contracturd Stuff Pocket $$$$ & for Oil,
In The Humpty Dump ties say Yes Yes programming Of Power Hunger...
Say Yes Boys ... For It's all about as it has always been about
Guns & Oil! Oil & Guns!!! Hey For...
The Magic Mirror Of Reflected Truth
At The Truth That Lies Within...
Mirror,Mirror On The Wall
Tell The Tale To One And All
Let It Be Known Far And Wide
That Truth Be Cast From Deep Inside
Then All Shall Come To Gaze And See
The Reflection Of Truth That None Can Flee
Forever Held In A Tale Of Tales
Within A Hope That Never Fails
And Thus The Dream Shall Come To Pass
In A StoryBook Tale That Reflects In Glass
So Now Go & Take a Real Hard Glare From Within
& Look In The Magic Mirror Of Reflected Truth
At The Truth That LIES Within...
Time Like The Iranians are now doing in Iran against Ahmadinejad,
Reformists and even some fellow conservatives say Ahmadinejad has concentrated too much on fiery, anti-U.S. speeches and not enough on the economy — and they have become more aggressive in calling him to account.
Time we here in America Be more aggressive in calling
Bush & His boyz to account. All His Evil nation calling
war On Terror Overseas concentrating On, His Fiery Bushwhacker Bullshit
and just like that moron in Iran didn't do anything right back at home on
the economy... A Fiscal Conservative The Republican't Yanker Wankers so
full of crap call themselves...
hell They have Spent stole & spread It Thin On Out There
Like Ban-CHEESE On satan's dick stick!!!
Plus a record 9 Trillion National debt & running...
Are you Old men Really That Far out Of Your Freaking F...ing Minds!!!
Tried & True Greedy Evil ASSHOLES you all truly are!!!
Credibility & ACCOUNTABILITY...Were is it?
Locked In Safes At The Cash-BAR! Or so they say!
So Here We Go There Boys & Girl's...
Time to Rock in The Cash-bar Safety Nets!!!
So Better Get Good To Go Ready
No Steady Thyselves There New Major Generals
Your change over will now signal a new Upcoming
welcome back to your New Post There Generals &
with a General Longing To Be Quite Frank.
A Glut Gut it all Of Death Blight Will Thus Occur
And with it shall come the Horrid fear it will stir!
As The Rust will glare upon each grain that will bear
a weigh down of dusted Oats, barley & wheat won't it spare
the effects of this upcoming horrid blight
will ground all the Millstones to astop with delight
Thus when it hits in the future we will bring back this snippit
in which you all know will think to but surely skip it...
(Just wait to that onrushing Death Blight hits your tongue in butt
and you wish for the cheaper meals that were once in your gut)
For Here Comes The Next Phase Waves Of Upcoming Cultral Clashes
& There's many Turkomen $$$$ Coming On Strong... Even for The U.N.
The Lull Is Now Over & Dead...Next Year brings The Dread...
First and ForeToast...
The central banks are making $110bn of cash available, which will help banks in need of cash. But it will not necessarily solve the underlying problem of exposure to the sub-prime mortgage sector.
Central banks cannot compensate for this lack of confidence
simply by injecting additional liquidity.We still do not know what the full extent of losses are. Current total losses are more than $60bn.
Until it is clear what the full damage is and which banks are affected - which could take until the end of the first quarter next year -
banks are unlikely to have the confidence to lend money to each other.
Even the Swiss National Bank said central banks alone could not resolve the issue.
"Central banks cannot compensate for this lack of confidence simply by injecting additional liquidity.On the contrary, the financial market participants themselves must take the fundamental steps needed to restore this confidence.
Most analysts have welcomed the central banks' move,
but some see it as an act of desperation.
If that view takes hold, it is unlikely to restore
confidence and encourage banks to lend money to each other.
If last week's lowering of rates and this week's promise of cash auctions do not reduce money market rates,
it is unclear what action central banks can then take.
Persistently high money market rates would raise the question as to whether central banks control the level of interest rates
or whether that control has, in effect, been ceded to commercial banks.
The credit crunch has hit the US housing market
Already, there have been hundreds of thousands of repossessions in the US.
Banks that post losses are also more likely to shed staff.
Credit crunch, falling house prices and financial sector
job losses all point in one direction - recession.
While the US is currently the hardest hit, as the world's largest economy, the impact of a contraction there will be felt far beyond its borders.
Were the central banks right to act?
As with all help offered to borrowers in trouble,
the issue of moral hazard rears its ugly head.
Will banks be more willing to take risks in the future
if they feel global central banks will bail them out?
Once the moment of crisis has passed, the main issues will be
the future regulation of the banking sector,
the loans that banks make and the debt they take on to their books.
Central banks act on credit fears as more tears will fall!
Weakness in sub-prime loans have destabilised the financial sector
The Federal Reserve, European Central Bank and central banks from the UK,
Canada and Switzerland are to jointly help banks deal with the credit crunch.
They have each announced that they will provide billions in loans to banks
in order to lower interest rates and ease the availability of credit.
The move was coordinated by the US Federal Reserve,
which has already cut interest rates three times this year.
It is a sign that despite rate cuts, banks are nervous about credit risks.
This news just goes to illustrate again how serious the illiquidity issue
in money markets has become.The move means that central banks will help each other out in providing as much liquidity (cash) as they judge necessary to revive the inter-bank market.
"The Fed in conjunction with these other central banks is providing a ton of liquidity to the markets by year-end.
It will work in the short term as another interest rate cut.
But others warned that the move was also a sign of
just how serious the crisis had become.
"This news just goes to illustrate again how serious
the illiquidity issue in money markets has become.
Again short term cover up thinking & Planning now done in desperation...
No hindsight Foresight Or Oversight Seen...Sickening Thieves & Liars!!
Now On to Big BONDS...RIGHT THERE Boyz & Girlz...
as Warren Buffet's Berkshire Hathaway opened
a business to guarantee municipal bonds.
WOW As They are Getting Bang Bang Maxwell Silver Hammered!
But, if Berkshire Hathaway provides no reinsurance options
and instead just issues insurance on new municipal bonds,
the new competition is likely to squeeze out some of
the smaller insurers, such as Security Capital Assurance.
Municipal issuers -- like hospitals, school districts and sewer systems --
often seek out bond insurance as a way to lower their cost of borrowing
and make their issues more attractive to investors.
The troubles of late with ACA, MBIA and Ambac<B< span>r> have led to speculation that more issuers will simply forgo insurance
and pay the higher costs necessary to come to market without it.
Buffett's foray into the bond insurance sector comes
at a tumultuous time for his new competitors.
In recent weeks, bond insurers have come under fire
as rating agencies have downgraded them,
or warned of possible downgrades, because of
their exposure to the deteriorating credit markets.
Standard & Poor's downgraded ACA Capital Holdings Inc.'s
bond insurance unit to "CCC&quot; from "A"
on Dec. 19, while Fitch Ratings has placed two of the
largest bond insurers, MBIA and Ambac, on negative credit watch.
While awaiting rating agencies are worried the insurers
will not have enough capital to cover potential defaults on bonds
and debt backed by mortgages, especially subprime mortgages.
HA HA HA HA HA CAN YOU SAY BONE BONDED JUNK!!!!
As they all rush to tries to survive being downgraded to junk status.
Second On Rocking The Arab CashBar
Thus Come & See while Seeking Culture Entering Into A New Phase Of
"It's Their Own Land & Wealth Self Awakening...
Also in Tribute To Rachid Taha - Rock El Casbah
Rachid Taha (born 1958 in Oran, Algeria) is a French-Algerian musician. His music is influenced by many different styles such as raï, techno, rock and punk. Based in Paris, France where he began his solo career after his beginnings as the leader of the French rock band "Carte de Séjour", he usually sings in Arabic.
Politically-engaged, Taha has always stood up to defend democracy, tolerance and altruism against racism, fundamentalism and discrimination. His breakthrough album as a solo artist was Diwan, featuring remakes of songs for the Maghrebi and Arab traditions. His album Tékitoi, produced by Steve Hillage and released in 2004, also brought him great acclaim and recognition from other rock musicians. He covered The Clash song Rock the Casbah, which appeared in the 2007 film about Clash frontman Joe Strummer, The Future Is Unwritten.
( Thus To All Of Our Kool Rocking The Casbah
Moor-Berber, Middle East & Arab Brothers & Sisters)...Rock On!
The Building Of a New Iraq & Middle East
it truly is up to them!! for help is appreciated
but meddling in their affairs is not so appreciated!
( Arabia. Persia, Syria, Turkey )
hey How about a middle ground KURDISTAN!!!
The Turk-Kurdish Deal North
The Syrian Sunni Anbar West
The Persian Shite Al Sadr East
The Arabian Kuwait Promises South
Modern Babylon What An Investment There General?
The Real Babylonian Was An
Persic-Arabic-Kurdo-Turkic-Assyro Babylonian.
A wonderful combination Of all 4 of These
Middle East brothers most precious Inter mingled blood
Those 4 are The main Players To Stop It All In The End...
Between Themselves Or No true peace may be Lasting.
More Rocken The Cashba a In coming Blast!
Now Will Give a Future Morrocco Dealings
Under Under a Coming In Cashba Big Stink Gas bombs away!
hey Just Like We Gave you The U.N Algerian hit hint Warning
Before It hit & ya still again Didn't listen!
So More Cash-bar Bombs away, More alger Reams also await.
You Gas'd Bastards Just Don't Listen....
Oh sorry we forgot you all know it all already!
but The big CasaBlanca One will Be The big Hurt!
What come around near your own backyard will ground
to a halt it will stop at the garrisoned timed pop
Then for the inside it will fray your nerve
as the plume will whither a much more fatal curve.
Get the riddle in the hints to hoax.
or Buttery toasted will be Thy sweated soaks.
It's coming fast like a blast of mustard Flask
In hotdog Form it will swarm within a needed mask.
You Fer's screw us right back here at home all the time.
So why Help any of you, But We have, and left unappreciated!!
the Next atack will come in a sack, entered in upon a
golden cart with flask in hand, so better pass out all
green zone masks that you left in the sand.Warning Given!
AND yOU oWE uS mANy A bIG tHANKS tHeRE gENERaL!!!
As you all run to get Big Cash infusions By UAE & others remember....
The Rocken The casbah "Save Face" concept
The Arabian culture is a non-confrontational one which seeks the least conflict possible. A concept called "save face" is a way to solve conflicts and avoid embarrassing or discomforting the parties involved. Saving someone's face or dignity involves using maneuvers or holding one's reactions to give the other party a way to exit the situation with minimal discomfort or harm to their dignity.
It involves compromise, patience, and sometimes looking the other way to allow things time to get back to normal. The "save face" concept is looked at as a behavior of high quality ethics and manners. The Arabian culture encourages people to act humbly and with sensitivity to a person's dignity, especially when that person's dignity and self respect is endangered.
This concept of sensitivity is not limited to extreme situations only. For example, when someone is pressuring an Arabian businessman into committing himself to a matter that is not of interest or beyond his capability, he might indirectly refuse the matter by offering to study the subject, which might be interpreted as a yes answer.
So remember, no pressure sales tactics because they cause discomfort
and might associate you as a person with unpleasant presence.
There is no separation between you as a person and the business
you represent or conduct in the Arabian world. Business is not only business.
Plus This after X-Mas Mess a Waiting...
Americans are falling behind on their credit card payments at an alarming rate,
sending delinquencies and defaults surging by double-digit percentages in the last year and prompting warnings of worse to come.
"Debt eventually leaks into other areas, whether it starts with the mortgage and goes to the credit card or vice versa,"
The value of credit card accounts at least 30 days late jumped 26 percent to $17.3 billion in October from a year earlier at 17 large credit card trusts.
So Thats hanging Over a lot Of individuals & Institutions heads also!
Thus...
Your fake Aution will buy you no more Time...
People better start Taking & running before The Empty Tank Run Out Hits.
Your Creeping In Pain equity-forward contracts arn't going to help ya either.
Your In Desperation "Panic auctions" will Just proLONGGATE To NO Negate More
At Your Gates coming a Crashing Down... Nothing Like Bogus auctions...
The new auction process was announced by the Fed last week in a coordinated action with central banks around the world trying to address a global credit crunch.
Federal Reserve Chairman Ben Bernanke and his colleagues decided to try the new process
because their efforts to inject funds into the banking system through the Fed's discount window,
which makes direct loans to banks, had proven less successful than Fed officials had hoped.
Many banks had avoided using the Fed's discount window out of concern that investors would see the move as
an indication of underlying problems at their financial institutions.
The auction process was developed as a second way to get money into the banking system
with the hopes that it would not carry the stigma of the discount window.
The Fed said Friday that it would announce on Jan. 4 the sizes of the next two auctions which will be held Jan. 14 and Jan. 28.
Officials have said the Fed will evaluate the interest in the auctions after the initial four and determine whether more auctions will be scheduled.
The new auction results cover short-term loans for 35 days.
More Short Term Desperation!!!!with central banks around the
world hurriedly trying to address a global credit crunch.
Plus Running to all The foreigners with BIG Cash To Bail Ya Out
Even The Chinese & Singoporians... ha Ha Ha Ha...How Low Of Thieving
lying Two faced Backstabbing Fraudulent crookery Do Ya all Want To Go...
As More Deep Pocket Fraudulent Desperation WILL Sink Into The Heads &
hands Of Those who will Loose all Their Cash cause Nothings Really There
and You all Are proping It Up with Non Existent fakery....
Bottom REAL DEAL Right Off LINE!!!
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Now here's some past history... below with a great article
by Peter DaSilva for The New York Times...
WASHINGTON — Until the boom in subprime mortgages turned into a national nightmare this summer, the few people who tried to warn federal banking officials might as well have been talking to themselves.
John Gamboa and Robert Gnaizda of the Greenlining Institute, a housing advocacy group, warned the Fed in 2004 about unscrupulous lenders.
Edward M. Gramlich, a Federal Reserve governor who died in September, warned nearly seven years ago that a fast-growing new breed of lenders
was luring many people into risky mortgages they could not afford.
But when Mr. Gramlich privately urged Fed examiners to investigate mortgage lenders affiliated with national banks,
he was rebuffed by Alan Greenspan, the Fed chairman.
In 2001, a senior Treasury official, Sheila C. Bair, tried to persuade subprime lenders to adopt a code of “best practices”
and to let outside monitors verify their compliance. None of the lenders would agree to the monitors,
and many rejected the code itself. Even those who did adopt those practices, Ms. Bair recalled recently, soon let them slip.
And leaders of a housing advocacy group in California, meeting with Mr. Greenspan in 2004, warned that deception was
increasing and unscrupulous practices were spreading.
John C. Gamboa and Robert L. Gnaizda of the Greenlining Institute implored Mr. Greenspan to use his bully pulpit and press for a voluntary code of conduct.
“He never gave us a good reason, but he didn’t want to do it,” Mr. Gnaizda said last week. “He just wasn’t interested.”
Today, as the mortgage crisis of 2007 worsens and threatens to tip the economy into a recession, many are asking: where was Washington?
An examination of regulatory decisions shows that the Federal Reserve and other agencies waited until it was too late before trying
to tame the industry’s excesses. Both the Fed and the Bush administration placed a higher priority on promoting “financial innovation”
and what President Bush has called the “ownership society.”
On top of that, many Fed officials counted on the housing boom to prop up the economy after the stock market collapsed in 2000.
Mr. Greenspan, in an interview, vigorously defended his actions, saying the Fed
was poorly equipped to investigate deceptive lending and that it was not to blame for the housing bubble and bust.
(Liar Thief Do nothing GreenSperm should have his head put in a guillotine)
On Tuesday, under a new chairman, the Federal Reserve will try to make up for lost ground by proposing new restrictions on subprime mortgages,
invoking its authority under the 13-year-old Home Ownership Equity and Protection Act. Fed officials are expected to demand that lenders document
a person’s income and ability to repay the loan, and they may well restrict practices that make it hard for borrowers to see hidden fees or refinance
with cheaper mortgages. (NOW THEY DO IT-WAY TOO LATE)
It is an action that people like Mr. Gramlich and Ms. Bair
advocated for years with little success.
But it will have little impact on many existing subprime lenders,
because most have either
gone out of business or stopped making subprime loans months ago.
What alarmed Mr. Gramlich was that many subprime loans were
extremely complicated and loaded with hidden risks.
Borrowers were being qualified for loans based on low initial teaser rates, rather than the much higher rates they would have to pay after a year or two.
Many of the loans came with big fees that were hidden in the overall interest rate. And many had prepayment penalties that effectively blocked people
from getting cheaper loans for two years or longer.
“Hindsight is always 20-20, but it’s clear the Fed
should have acted earlier,” said Ms. Bair,
who became chairman of the Federal Deposit Insurance Corporation in 2006.
“Financial innovation is great, but you have to have some basic rules.
One of the most basic rules is that a borrower should have the ability to repay.”
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A Day Of The Dead silently awaits...
While their going to lose a lot of their money EUROPEONS Get RIP'ED...
Plus Arabs & Asians ain't going to get there Money Either...
For There ain't None Left To get It's all Got Up & Went away
On....Om AladIIINY's Magic carpetOOOO!!!
The European Central Bank extended unlimited two-week loans to banks at
4.21 percent and up, in an effort to unfreeze lending that dried up after the
U.S. subprime mortgage market collapsed. Some 390 banks bid
for $500 billion in loans, and the rate for interbank lending in euros fell
50 basis points to 4.45 percent after the ECB's move.
"They're throwing everything they can at the liquidity problem," said one trader.
(as They stick Their bloody Necks 7 Heads Out On A Platter For america)
HA HA HA HA HA...They have & will now pay an even greater Price...
For you can't help prop up something That's going to humpty dumpty Fall To
The Ground cause There's No foundation Left There EURO MORONS...
Now In The Rear view mirrored HINDSIGHT THEY WILL SEE...
How IT all Got Going & Who played Their Roll Of Run The Big ROLL!!!
THE ROLL RIGHT INTO THE TOILET....TIME TO FLUSH IT ON DOWN!!!
Want MORE OK Here We Go...Mortgage Application Volume Tumbles!!!
GoldThieving Sacks... is lying Through Their Teeth about their own
Big Crap=OLA Mess as They call out On Others Big Messes...
Goldman Sachs Yelps & yells look At... JP MORGUE, SHITY-group & IMperrill Lynched & Bearback Stern ....& They GoldThieving SACKSFULL
Suggests Citi Could Cut Its Dividend 40 Pct, Sees Larger Writedowns for Merrill
The analysts said Citi could write off as much as $18.7 billion in the fourth quarter.
They also suggested the bank could cut its dividend by 40 percent and may need to raise $5 billion to $10 billion more cash.
That would come on top of a $7.5 billion infusion Citi received when it sold a 4.9 percent stake to the Abu Dhabi Investment Authority in late November.
Goldman increased its estimate for a fourth-quarter loss to $1.33 per share, from 52 cents per share, based on the higher writedown prediction. Analysts polled by Thomson Financial, on average, predict a loss of 63 cents per share for the fourth quarter, which ends Monday. Citi shares edged down 15 cents in premarket trading,
from their close Wednesday at $30.45.
The Goldman team also said they expect an additional $11.5 billion write-off from Merrill Lynch & Co., and increased their loss estimate for the broker to $7 per share for its fourth quarter, versus a prior forecast for a loss of $1.50 per share. Wall Street, on average, expects Merrill to report a loss of $2.78 per share, according to Thomson Financial.
For JPMorgan, the Goldman analysts see a $3.4 billion writedown, and cut their profit estimate to 65 cents per share, from $1.04, noting in particular concerns about "higher charge-offs and provisions for the firm's consumer business, particularly credit cards and mortgage."
Goldman's projection estimates write-offs as much as 70 percent higher than the $8 billion to $11 billion Citi forecast in early November, when it ousted Chief Executive Charles Prince as the extent of its bad bets in mortgage-related debt became known.
Hey GOLDMAN Your RIght About ALL THOSE OTHER BASTARDS....
NOW LETS TAKE A LOOK AT YOU!!!!! JUNK BONDED CREEPS!!!
Here's More On Goldman a coming...right!!!!
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The Long and Short of It at Goldman Sachs
By BEN STEIN
Published: December 2, 2007
FOR decades now, as a writer, economist and scold, I have been receiving letters from thoughtful readers.
Many of them have warned me about the dangers of a secret government running the world, organized by the Trilateral Commission,
or the Ford Foundation, or the Big Oil companies or, of course, world Jewry.
I always scoff at these letters. The world is far too complex a place to be run by any one group.
But the closest I have recently seen to such a world-running body would have to be a certain large investment bank,
whose alums are routinely Treasury secretaries, high advisers to presidents, and occasionally a governor or United States senator.
This all started percolating in my fevered brain last week when a frequent correspondent,
a gent in Florida who is sure economic disaster lies ahead (and he may be right, but he’s not),
forwarded a newsletter from a highly placed economist at Goldman Sachs named
That worthy scholar recently wrote a detailed paper about how he thought the subprime mess would get worse and worse.
It would get so bad, he hypothesized, that it would affect aggregate lending extremely adversely and slow down growth.
Dr. Hatzius, who has a Ph.D. in economics from “Oggsford,” as they put it in “The Great Gatsby,” used a combination of
theory, data, guesswork, extrapolation and what he recalls as history to reach the point that when highly leveraged institutions
like banks lost money on subprime, they would cut back on lending to keep their capital ratios sound — and this would slow the economy.
This would occur, he said, if the value of the assets that banks hold plunges so steeply that they have to consume their own capital to patch up losses.
With those funds used to plug holes, banks’ reserves drop further. To keep reserves in accordance with regulatory requirements, banks then have to
rein in lending. What all of this means — or so the argument goes — is that losses in subprime and elsewhere that are taken at banks ultimately boomerang back,
in a highly multiplied and negative way, onto our economy.
As the narrator in the rock legend “Spill the Wine” says, “This really blew my mind.”
So I started an e-mail correspondence with Dr. Hatzius, pointing out what I believed were a few flaws in his paper.
Among them were his hypothesis that home prices would fall an average of 15 percent nationwide
(an event that has never happened since the Depression, although we surely could be headed in that direction),
and that this would lead to a drastic increase in defaults and losses by lenders.
This, as I see it, is a conclusion that is an estimation based upon a guess. I found especially puzzling the omission
of the highly likely truth that the Fed would step in to replenish financial institutions’ liquidity if necessary.
In a crisis like that outlined by the good Dr. Hatzius, the Fed — any postwar Fed except perhaps that of a fool —
would pump cash into the system to keep lending on track.
I mentioned this via e-mail to Dr. Hatzius. He generously agreed that there was some slight merit to my arguments
and that he was merely pointing out tendencies and possibilities (if I understand him correctly).
BUT forecasting is tricky, and I have a hard time believing that financial events to come will be qualitatively different from those that have already happened.
I do want to emphasize Dr. Hatzius’s gentlemanliness and intelligence. But I also want to emphasize that, as I see it, his document was mostly about selling fear.
A spokesman for Goldman Sachs categorically denies this point and says that the firm’s economic research is held to the highest levels of objectivity and that
its economists’ views are completely independent.
As I interpret it, Dr. Hatzius was saying that the financial system would possibly not be able to adjust to a level of financial losses
that are large on an absolute scale but small compared with aggregate credit or the gross domestic product.
He is also postulating that lenders would have to retrench so deeply that lending would stall and growth would falter — an event that, again,
has not happened on any scale in the postwar world, except when planned by the central bank.
In other words, with the greatest possible respect to Dr. Hatzius, his paper is not really what I would call a serious overview of the situation.
It is more a call to be afraid and cautious based on general principles that he embraces and not on the lessons of history.
(In this respect, he is much like many economic journalists and commentators who sell newsprint by selling fear.
The common cause of journalists and Wall Streeters in this regard is a subject I will address in the future.)
Now, let me make a few small points here and then get to my own big point.
Goldman Sachs is a huge name in terms of moneymaking and prestige. I totally understand the respect it receives for its financial dexterity.
The firm is a superstar in that regard, and I, a small stockholder, am grateful.
But it has never been clear to me exactly why its people are considered rocket scientists in any other area than making money.
Dr. Hatzius’s paper is a prime example of my puzzlement. It shows extreme intelligence but basically misses the point:
yes, there are possible macro dangers, but you have to go all the way around Robin Hood’s barn to get to them,
and you have to use what I think are extremely far-fetched hypotheticals to get to a scary situation.
(This is not to diminish the real risks in today’s economy, I’m just not as gloomy about them as Dr. Hatzius.)
Why, then, is his document circulating? Perhaps as a token of Dr. Hatzius’s genuine intelligence, which is fine.
But to me, his paper seemed like a selling document in the real Wall Street sense of selling — namely, selling short.
(Dr. Hatzius notes that he has long been bearish on housing, since faraway 2006, but I respectfully note that that is
a lot different from predicting a credit catastrophe. The spokesman for Goldman also noted the company’s bearishness
on housing since 2006. He also noted that in the recent past, Goldman Sachs has moved to a considerably larger short posture and that the firm is net short.)
More thoughts came to me as I read a recent piece in Fortune by my colleague Allan Sloan, a veteran financial writer.
Mr. Sloan traces the life and death throes of a Goldman Sachs-arranged collateralized mortgage obligation.
He shows how truly toxic waste was sold to overly eager investors who now have major charge-offs, and he also points out
that some parts of the C.M.O. were indeed safe and were either current or had been paid off.
But what leaps out at me from this story is that Goldman Sachs was injecting dangerous financial products into the world’s commercial bloodstream for years.
My pal, colleague and alter ego, the financial manager Phil DeMuth, culled data from a financial Web site, ABAlert.com
(for “asset-backed alert”), that Goldman Sachs was one of the top 10 sellers of C.M.O.’s for the last two and a half years.
From the evidence I see, Goldman was doing this for years. It might have sold very roughly $100 billion of the stuff in that period,
according to ABAlert. Goldman was doing it on a scale of billions even when Henry M. Paulson Jr., the current Treasury secretary, led the firm.
The Goldman spokesman would not comment on this except to note that other firms sold C.M.O.’s too.
The point to bear in mind, as Mr. Sloan brilliantly makes clear, is that as Goldman was peddling C.M.O.’s,
it was also shorting the junk on a titanic scale through index sales — showing, at least to me, how horrible a product it believed it was selling.
The Goldman Sachs spokesman said that the company routinely shorts the securities it underwrites and said that this is disclosed.
He noted candidly that Goldman is much more short in this sector than usual.
Here is my humble hypothesis, even after talking to Goldman: Is it possible that Dr. Hatzius’s paper was a device to help along
the goal of success at bearish trades in this sector and in the market generally? His firm says his paper,
like all of its economists’ work, was not written to support any larger short-trading strategy.
But economists, like accountants, are artists. They have a tendency to paint what their patrons, who pay them, want to see.
From what I have observed over the years, Goldman has a fascinating culture. It is sort of like what I imagine the culture of the K.G.B. to be.
You always put the firm first. The long-ago scandal of the Goldman Sachs Trading Corporation, which raised hundreds of millions just before
the crash of 1929 to create a mutual fund, then used the fund’s money to prop up stocks it owned and underwrote, was a particularly sad example.
The fund, of course, went bust.
Now, obviously, Goldman Sachs does many fine deals and has many smart, capable people working for it. But it’s not the Vatican.
It exists to make money for the partners and (much farther down the line) the stockholders. The people there are not statesmen. They are salesmen.
To my old eyes, the recent unhappiness about mortgages and Goldman’s connection with them are not examples of sterling conduct.
It is bad enough to have been selling this stuff. It is far worse when the sellers were, in effect, simultaneously shorting the stuff they were selling,
or making similar bets.
Doesn’t this bear some slight resemblance to Merrill selling tech stocks during the bubble while its analyst Henry Blodget was reportedly telling
his friends what garbage they were? How different would it be from selling short the junky stock that your firm is underwriting?
And if a top economist at Goldman Sachs was saying housing was in trouble, why did Goldman continue to underwrite junk mortgage issues into the market?
HERE is a query, as we used to say in law school: Should Henry M. Paulson Jr., who formerly ran a firm that engaged in this kind of conduct,
be serving as Treasury secretary? Should there not be some inquiry into what the invisible government of Goldman (and the rest of Wall Street)
did to create this disaster, which has caught up with some Wall Street firms but not the nimble Goldman?
When the Depression got under way, the government created the Temporary National Economic Committee to study just what had happened
on the Street to get the tragedy going. Maybe it’s time for an investigation of just what Wall Street and Goldman did to make money as they
pumped this mortgage mess into the economic system, and sometimes were seemingly on both sides of the deal.
Or is Goldman Sachs like “Love Story”? Does working there mean never having to say you’re sorry?
Taking Home Enough Cash-Bar Cash Every Year...
EHI THERE LLOYD...GREEDY F>>>ING PIG SWINE THAT YOU ARE!!!
Goldman Sachs CEO Lloyd Blankfein Taking Home $68.5M in Pay Not all chief executives at the nation's largest investment banks will receive a lump of coal instead of their typical millions of dollars in holiday bonuses this Christmas.
In a year where most investment banks lost billions of dollars on bad bets in the mortgage industry, Goldman Sachs Group Inc.'s chief executive, Lloyd Blankfein, still managed to take home $68.5 million in total compensation -- a record for an investment bank chief executive.
Blankfein will receive $26.8 million in cash,
and $41 million in stock and options.
He also will get a base salary of $600,000.
Blankfein's bonus is a 27.2 percent jump from the record bonus
he received last year of $53.4 million in cash and stock.
Blankfein's payout isn't the biggest for other parts of Wall Street. Dealmakers at hedge funds and private-equity firms could bring in substantially larger bonuses. For instance, Blackstone Group CEO Stephen Schwarzman made $400 million in 2006.
CAN YOU SAY HEDGE FUND FIX...
Just Waiting till that BlackStone Blows Up!!!
Plus BOND ACTION Reaction To all The G-Traction...
& The JUNK BONDED COVER UP KEEPING!!! right GOLDTHIEVES & SUCKS!!!
Now Lets Talk About GOLD PRICE PORICING & GOLDEN GOOOOOOOOOOOOOOOOOO!!!!
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Now On To Better Braver souls who we have deep Respect For Like...
In Memoriam To... A Great Musician & Lyrist
John Graham Mellor (August 21, 1952 – December 22, 2002)
better known as Joe Strummer, was the co-founder, lyricist,rhythm
guitarist and lead singer of the English punk rock band The Clash.
Strummer was instrumental in setting up Future Forests (recently rechristened The Carbon Neutral Company), an organization dedicated to planting trees in various parts of the world in order to combat global warming. Strummer was the first artist to make the recording, pressing and distribution of his records carbon neutral through the planting of trees. Many other artists such as Foo Fighters, Coldplay and Pink Floyd have followed suit and fans can visit the Carbon Neutral Company website to buy trees to be planted in their favourite artist's forest (Strummer's being christened "Rebel's Wood", a specially selected section in Orbost, on the Isle of Skye.) In his remembrance, Strummer's friends and family have established the Strummerville Foundation for the promotion of new music.
Throughout his career, Strummer was noted for his devotion to fans. It has been said that Strummer never left a venue until everyone who had waited around got an autograph and talked with him personally, a process which often lasted for hours. In fact, even after being hit in the leg with a cherry bomb in Asbury Park, when he was being driven to the hospital, he made the driver stop the car so he could talk to some fans first.
May The Save Face Clash Force Be with You
And The Joe Strummer Save Trees Force also be with you
Signed Gladly Sadly and Tragically
At the PassionSwords Blades Edge
We Bitter-Sweet Over Bitter Gladiators
Of The Society Of The Sacred PassionsWord
@The Centrist Arena of Gladiators 2000-2007, there are
# Of the Society Of The Sacred Sword, a wholly-owned
subsidiary of $ Grand Journey Enterprise Release LTD
a privately-held, Investigative Research Source
of Internet Conspiracy Theory%.
Fade Now To Rock the Casbah - A "Save Face"
Concept For Business is Not Only Business
But I Fought The Law & The Law Won Back In Black
Vita brevis breviter in brevi finietur,
Mors venit velociter quae neminem veretur,
Omnia mors perimit et nulli miseretur.
Ad mortem festinamus peccare desistamus.
Life is short, and shortly it will end;
Death comes quickly and respects no one,
It destroys everything and takes pity on no one.
To death we are hastening, let us refrain from sinning.
respice, adspice, prospice
