Total Commitment To Evil

Poor bastard. If only he had known by giving in he was...

Tue, 03 Mar 2009 19:00:39 -0800

Poor bastard. If only he had known by giving in he was condemning the world to its financial grave. But that garage was huge! I hope it was worth it.

Just a little outrage from anybody, please.

Sun, 19 Oct 2008 10:23:29 -0700

Just a little outrage from anybody, please.

Dow 8500? Check. 40% stock market decline from peak only one...

Thu, 09 Oct 2008 17:55:00 -0700

Dow 8500? Check. 40% stock market decline from peak only one year ago? Check. Whole nations going bankrupt (word up, Iceland)? Check. G7 convening emergency banking summit? Check. US banks on verge of nationalization? Check.

I dedicate this song to realtors, flippers, appraisers, mortgage brokers, bankers, bond traders, rating agencies, government regulators and, of course, the American “move-up” buyer.

sadguysontradingfloors: Oh, the humanity.

Wed, 08 Oct 2008 11:38:52 -0700

sadguysontradingfloors:

Oh, the humanity.

Nope, John, you didn’t close the deal at all. In fact, the...

Mon, 29 Sep 2008 18:03:00 -0700

Nope, John, you didn’t close the deal at all. In fact, the rank and file House Republicans actually led a revolt against the Plutocracy of Bush Paulsen, Pelosi, Schumer, Frank and Dodd and their incessant bleeding of the middle class. The House representatives did their job in “representing” the interests and wishes of their constituents by refusing to pour $700 billion down the bottomless pit of Goldman- and Morgan-led crony capitalism.

Now, the Plutocracy will put the screws to regional banks and the “little people” by freezing credit, hoping to break the will of those living day-to-day, paycheck-to-paycheck. The Plutocracy will eventually force the American people to capitulate and the bailout will pass. But it won’t really matter. The Great Unwinding has arrived. And it will be long and painful whether we pay a blood tithe to Wall Street or we hold firm.

Economists Not Into Paulsen and the Bailout, After All

Fri, 26 Sep 2008 10:37:00 -0700

Economists Not Into Paulsen and the Bailout, After All:

Maybe there aren’t weapons of mass destruction in Iraq either?

Better do what Hank and Goldman Sachs want.

Tue, 23 Sep 2008 09:50:32 -0700

Better do what Hank and Goldman Sachs want.

Feeling Angry? Looking For Someone to Blame? Start Here...

Thu, 18 Sep 2008 09:21:00 -0700

Feeling Angry? Looking For Someone to Blame? Start Here...:

Not at all the usual liberal claptrap from NPR.

AIG Barely Clinging To Life...

Tue, 16 Sep 2008 15:15:17 -0700

AIG shares fall as it fights for a lifeline

Hank, they fucked us.

You, me, pension plans, anyone with mortgage insurance, an IRA, a 401k. If the company you built (and were tossed out of) goes down, the rest of the world would be smart to write us off, cut us loose, unpeg, decouple. The counter-party risk is incalculable. The 17-year-long Japanese recession will seem tame by comparison.

The entire world hangs in the balance between a socialist point-of-no-return government bailout and a free-market solution that seems so catastrophic that even the retarded market pumpers in the mainstream media are calling for intervention. Stand by…

And Tonight, It Begins...

Sun, 14 Sep 2008 17:31:00 -0700

Lehman may face failure, Merrill may be bought

(The perpetrator is being described as a tall, well-groomed business man last seen making off with the wealth of the middle class.)

What would happen if the U.S. government spent all of its “cash reserves” on nationalizing moral-hazard behemoths Fannie Mae and Freddie Mac and didn’t have anything left to bail out one of the world’s oldest and most venerable banks?

What would happen if another old and venerable banking institution was also on the brink of collapse and needed help just as urgently?

And let’s not even begin to wonder what would happen if the FDIC was planning on tapping those same cash reserves because it too is actually completely insolvent and now is left with no federal backstop.

Just a little reminder of what the plan has been all along....

Sun, 03 Aug 2008 15:59:03 -0700

Just a little reminder of what the plan has been all along. Mission Accomplished for sure.

Known Communist

Sun, 27 Jul 2008 11:56:00 -0700

Treasury Secretary/Goldman Sachs Chairman Henry “Hank” Paulson.

After Hank and every banking regulator in the country stood idly by while the Real Estate Industrial Complex conducted the greatest Ponzi Scheme of all time by perpetrating temporary home ownership on the middle and lower classes and watching his cronies bank eight- to nine-figure annual bonuses on the profits generated by bad Mortgage Backed Securities (MBS) and off-balance sheet derivatives, he managed to stick the bill for the entire scam onto the backs of the same middle and lower classes who are now losing their homes. When gains are privatized and losses are socialized, that is called Communism. Under George W. Bush and Hank Paulson, the United States ended its grand experiment with free-market democracy on July 26, 2008.

Apparently REALTORS (always caps with these douchebags) have now...

Sat, 19 Jul 2008 14:32:00 -0700

Apparently REALTORS (always caps with these douchebags) have now given up completely on putting any heart (or actual work) into their scam…eh, you know… job or whatevs. I mean, come on! You can’t even be bothered to move the shopping cart loving left behind by the San Fernando Valley homeless? By the way, if you’re the sucker who buys this house, make sure to get the cart thrown in with the deal. One day soon it may be worth more than the house.

NEWSFLASH… FANNIE AND FREDDIE BAILED OUT BY FED…...

Sun, 13 Jul 2008 16:42:00 -0700

NEWSFLASH… FANNIE AND FREDDIE BAILED OUT BY FED… WELCOME THE UNITED SOCIALIST STATES OF AMERICA… THINGS HERE ARE ABOUT TO BE VERY DIFFERENT…

Here It Comes...

Fri, 11 Jul 2008 16:34:00 -0700

Office of Thrift Supervision Shuts Down IndyMac

“This institution failed today due to a liquidity crisis,” OTS Director John Reich said.

Washington, Wall St. Weigh Fannie, Freddie Help

“Without them, our economy would collapse,” Piper Jaffray analyst Robert P. Napoli said in a note to clients.

S&P 500 Plunges Into Bear Market

Bank of America’s chief executive said it may feel to some people for the next year as if the economy is in recession.

Lehman shares plunge again

Hedge fund manager David Einhorn of Greenlight Capital made headlines after he questioned the company’s accounting, saying it hadn’t reserved for losses on its portfolio of collateralized debt obligations.

GM Going BK For Sure! GM shares fall below $10 for first time...

Wed, 02 Jul 2008 19:33:00 -0700

GM Going BK For Sure!

GM shares fall below $10 for first time since 1954

By BREE FOWLER, AP Business Writer Wed Jul 2, 6:20 PM ET

NEW YORK - Shares of General Motors Corp. plunged Wednesday to close below $10 for the first time in more than half a century, on worries about the company’s cash needs and speculation about a possible bankruptcy protection filing down the road.

“C’mon, Junior, the SUV drivers melted our home....

Wed, 02 Jul 2008 14:13:00 -0700

“C’mon, Junior, the SUV drivers melted our home. Let’s go wreck the stock market.”

Stocks drop after new record for oil prices - AP

The stock market’s pullback, which accelerated in the final hours of the week’s last full trading day, left the Dow Jones industrial average officially in bear market territory, with the blue chips having fallen more than 20 percent from their October highs.

Fugitive hedge fund manager Samuel Israel surrenders - Yahoo...

Wed, 02 Jul 2008 11:23:00 -0700

Fugitive hedge fund manager Samuel Israel surrenders - Yahoo News

Look for lots more perp walks from hedge fund managers.

From AP: Car sales were down 21 percent at GM and 9 percent at...

Wed, 02 Jul 2008 09:17:00 -0700

From AP: Car sales were down 21 percent at GM and 9 percent at Toyota. Truck sales were down 16 percent at GM and nearly 39 percent at Toyota.—

Looking at the sleek beauty above, it’s really hard to imagine why GM would go in the tank in such an historical way—at one point enduring a 25% intraday trading swing yesterday. Only the record business was slower to respond to the radical and obvious changes in their business model and, as we all know, everyone in the record business is completely retarded. Though you have to applaud the strategy currently being employed by the Blue Chippers in rapid decline—warn for a breath-takingly low number and then beat it slightly, causing rejoice across the market and actual pole-dancing by the CNBC Hotties. What continues to amaze though is the commitment to pretending to be surprised by the numbers, despite the very predictable results that are part and parcel of wide-spread asset deflation, demand destruction and worldwide, unprecedented de-leveraging. Or better expressed by the simple formula: no money for lending = no money for buying big shiny gas-guzzling dick replacers with toxic HELOCs yanked from the faux equity in your brand new McMansion in the exurbs to commute to your flat-wage-growth job at $5 per gallon.

Countrywide CEO Angelo Mozilo, aka Orangezillo. As chief...

Sun, 29 Jun 2008 09:52:00 -0700

Countrywide CEO Angelo Mozilo, aka Orangezillo. As chief executive of the biggest mortgage originator in the U.S., he purposely directed borrowers from all walks of life into risky, expensive and exotic loan products. Just after the bubble popped in 2006, he cashed in $138 million of his options in his company, while simultaneously instructing the company to undertake an aggressive buyback program of its own stock.

Here are some of Orangezillo’s other feel-good hits (besides the serial tanning):

After almost entirely destroying his own company’s value, Orangy used his governmental connections to orchestrate a sale of Countrywide assets to Bank of America for pennies on the dollar. The result will be a near-complete wipeout of all shareholder value and the loss of 7,500 Countrywide jobs.
Extended special “VIP” loan terms to U. S. Senate Banking Committee Chairman Christopher Dodd, among others,who is now charged with shepherding the housing bailout through the senate. Did Bank of America actually author the bill?
Helped a Las Vegas “casino owner” get a special loan despite the owner’s failure to qualify. Said casino owner is now substantially under water on his mortgage. Thanks, Orangy!
Over-achieved so completely in fraudulent lending, that two state AGs have sued Countrywide. California Attorney General Jerry Brown shed his “Governor Moonbeam” tag with the harshest indictment of Orangy.
Failed to distinquish “Reply” from “Forward” and responded to a troubled borrower’s email by calling him “disgusting” and blaming the Interwebs. Lots more to come…