Stacy Summary: The truth in New Zealand.
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Stacy Summary: Let them eat cake. Just sayin’ . . .
“We have to tolerate the inequality as a way to achieve greater prosperity and opportunity for all”
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Stacy Summary: You cannot say that we were not here first!
“We’re in with two feet,” Ackman said today at the Value Investing Congress in New York. “You’ve got a real estate company, in our opinion, with the government as a tenant. We think this is a business that has very significant growth. It’s going to do well in any economic environment, as long as people commit crimes and as long as we punish them.”
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Stacy Summary: I love that Boris starts out asking whether you would prefer to gun down a politician or a banker.
London estate agents say they cannot believe the wheelbarrows of dosh that are suddenly crashing through their doors. Savills says the number of buyers from the financial services sector has risen by 48 per cent in the third quarter of this year, purely in the expectation of yet another ginormous Christmas bonus.
A knuckle-cracking realtor in Knight Frank’s Kensington office says he has never seen anything like it: email after email from the boys and girls at Goldman Sachs. “We did our first Goldman’s deal in June,” he tells the FT, “and we are now doing five times as many for its employees as for any other bank.”
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Stacy Summary: Excuse my French, but WTF? H/t @Danny for this.
The decision by Eurostat means Nama will not increase the general government debt ratio and Ireland’s budget balance will not be directly affected by Nama.
And so we now learn than Nama beast has mutated into a high-risk derivative game with ghost investors, imaginary assets and illusionary payoffs. We are, for all intent and purpose, in the BaNama Republic.
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Stacy Summary: For nonsense, chit chat and jibber jabber. And the dollar. I see it’s rallying.
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Stacy Summary: I agree; but first we should remove all subsidies and cheap funding to the Friends of Timmy. Then, we should take back what is ours. And then, we should tar and feather them. Or should that come before the windfall profits tax?
During World War II, we imposed an excess profits tax. We should impose a 95% excess profits tax—or windfall profits tax—on certain financial institutions (including Goldman Sachs) enriching themselves with ongoing low-cost Fed funding and debt guarantees.
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Stacy Summary: Yowza. This is from Dow Jones Marketwatch. Paul B. Farrell gives 20 reasons that American capitalism has lost its soul, your reasons in the comments, please.
But for Wall Street and American capitalism, use your gut. You know something’s very wrong: A year ago “too-greedy-to-fail” banks were insolvent, in a near-death experience. Now, magically they’re back to business as usual, arrogant, pocketing outrageous bonuses while Main Street sacrifices, and unemployment and foreclosures continue rising as tight credit, inflation, skyrocketing Federal debt killing taxpayers.
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Posted in Headlines
Stacy Summary: All your nonsense and jibber jabber here. I’m reading yet another article about someone from the future coming back to keep the Hardon Hadron Collider from discovering a certain particle.
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Stacy Summary: Swaps wiping out counties, countries and financial systems across the world . . .
“People want to kill somebody, but they don’t know who to shoot at”
Jefferson County’s debacle is a parable for billions of dollars lost by state and local governments from Florida to California in transactions done behind closed doors. Selling debt without requiring competition made public officials vulnerable to bankers’ sales pitches, leaving taxpayers to foot the bill for borrowing gone awry.
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Stacy Summary: I agree with @Adam C that the bonuses are tiny compared to the size of the crimes that have led us to this point; on the other hand, I think the greater significance of Goldman’s bonuses is in the symbolic ‘let them eat cake’ nature of how demonstrably divorced the banking/political class is from the hungry population.
When sober-minded individuals begin to regard an enterprise within a nation as “an enemy of the people” you can bet that some serious blood is going to flow. This is now essentially the situation for the Goldman Sachs company, which last week announced third-quarter earnings of over $3 billion largely derived from converting zero percent loans from taxpayers into zero risk profits off of anything paying more than zero percent in interest, revenue, or dividends.
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Stacy Summary: It is truly remarkable just how much history rhymes. The fact that these manufactured protest groups in US are becoming more Orwellian, of course, suggests to me that we are living in similarly fascist times. And the fascists have the same exact response to Great Depression & collapse of Empire, provoke world war. As Seymour Hersh said, the reason the US is/was financing terrorist groups to bomb inside Iran is in order to provoke Iran to respond in such a way that the voodoo trancers would trance for more war against the ‘aggressors’ they see on Fox News. Hang on to your gold. (And your GulagWealth investments!)
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Stacy Summary: Well, there is someone else out there who wants the same thing as @Mike/Liverpool. I doubt it would be as much a godsend as Ambrose thinks it would be . . .
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Rick Ackerman
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