For fun and games, nothing beats watching the German economy collapse. They get all verfrufflegeschmitzet and stomp around wearing cool arm bands. This is getting interesting. Popcorn sales are up!
Nigel Elliott
· 1 year ago
Firebrand,
if the Germans are worried about the financial markets, then so am I. It's almost time to order that wheel barrow to haul around dollars to buy those necessities.
no, i have a cold, flu thingeeee. but am getting better.thanks for asking
dad
· 1 year ago
corporape
OlderAndWiser
· 1 year ago
This describes how capitalism is failing...
And as the head of BS would say, "So?"
firebrand
· 1 year ago
LOL Indigo. And they have lots of kewl parades too :-) .
1billinnj2
· 1 year ago
i can not seem to get use to this new disqus system. oy vey.
1billinnj2
· 1 year ago
ok, i have to go lay down again. have a nice day everyone.
firebrand
· 1 year ago
Sorry to hear that Bill....its all over the area. Get better soon.
Ricky
· 1 year ago
With $61,000,000 to blow, Chairman James Cayne's money should be taken from him and used to purchase a flight, first class of course, to the middle of the Sahara Desert and he should be thrown out with a parachute and a sixteen ounce bottle of his favorite bottled sparkling water. The remainder of his money, probably around $60,990,000, should be distributed equally to the homeless shelters in New York City.
OlderAndWiser
· 1 year ago
UK seems to be having the same problems as US in housing. Capital/profits know no boundaries as far as banking is concerned.
And a report on MSNBC just now said that China is having problems with rising rice prices.
Food prices increased an average of 8% in the past year (they seem higher to this weekly shopper, though, as I have a penchant for remembering prices from week to week). You just can't believe govt figures anymore, like the "low" unemployment rate which doesn't report millions unemployed and not collecting benefits).
I can't wait until Obama becomes president, so he can tax you like the colonial Brits. :-)
OlderAndWiser
· 1 year ago
America on the Skids...boy, those pinto beans (sans rice, I guess, but I have Quinoa and barley--both more nutritious than rice) are going to be mighty fine vittles. My neighbor has 50 lbs brought by her father and she's divvying them up. This is the second shipment. And if southerners know anything, it's how to survive on beans. Now, if I could just afford the cornbread. : )
firebrand
· 1 year ago
Nigel
Hey dude...colonial bits had lots of practice in Cymru, Erie, and Alba too. :-)
Dave of the Jungle
· 1 year ago
Honorable mention (not) to the "religious right" for being the biggest suckers of the 21st Century.
firebrand
· 1 year ago
Nigel
That makes two of us. I got bad feelings about the economy when I read the article.
Indigo
· 1 year ago
It's all fun and games until the wheelbarrows go on sale!
Andrew
· 1 year ago
chris.....There's an even better question to ask which I believe that the S.E.C. might want to look in to. Who was it that profited big time from shorting Bear Sterns stock? Kind of reminded me of the massive stock shorts on American Airlines just before 9/11, but no one ever seemed concerned about that either. Insiders with inside information prior to an event? Hmmmm.
firebrand
· 1 year ago
." Billions of taxpayer money saved the financial investment bank Bear Stearns from going bankrupt. Bear Stearns had a rough year, since that housing bubble (the one filled with all those predatory mortgages Bear Stearns and company signed over to poor, brown people) finally popped. Lucky for Bear Stearns, America doesn't punish corporations that exploit the community. Instead, $3.2 billion of federal money goes to bailing them out. But it's only fair, since Bear Stearns' profits fell from $539 million to $486 million. The horror! Surely, the Johnsons will understand the need to foreclose on their house in the wake of those kinds of second-quarter losses! "
Source :http://www.smirkingchimp.com/thread/13724
SPatrick
· 1 year ago
Because it won't get covered here in a post:
Clinton was asked by a questioner in the audience here what she would tell frustrated Democrats who might consider voting for McCain in the general election out of spite.
"Please think through this decision," Clinton said, laughing and emphasizing the word "please."
"It is not a wise decision for yourself or your country."
The crowd applauded loudly. [...]
"First of all, every time you have a vigorous contest like we are having in this primary election people get intense," she continued. "You know, Sen. Obama has intense support. I have intense support."
Clinton stressed that there are "significant" differences between her and Obama, but said "those differences pale to the differences between us and Sen. McCain."
"I intend to do everything I can to make sure we have a unified Democratic party," she said. "When this contest is over and we have a nominee, we're going to close ranks, we're going to be united."
OlderAndWiser
· 1 year ago
Sadly, SPatrick, Clinton is doing very little to ensure a united Dem party, and everything to steal the nomination, which will fracture it beyond repair.
She needs to wake up and smell her defeat.
BLOGGING BITCH!
· 1 year ago
Between Iraq, Bernanke and the bailouts, it's obvious that Social Security was never a problem.
Didn't American Airlines have a little problem explaining put-option activity on Sept. 10, 2001?
Dave of the Jungle
· 1 year ago
Certainly, more tax cuts for the super rich should be forthcoming.
firebrand
· 1 year ago
I hope this is wrong:
Global systemic crisis – End of 2008: Pension funds go off the rails
Certainly, more tax cuts for the super rich should be forthcoming.
SPatrick
· 1 year ago
"Sadly, SPatrick, Clinton is doing very little to ensure a united Dem party, and everything to steal the nomination, which will fracture it beyond repair.
She needs to wake up and smell her defeat."
I'm not saying you have to like her. I am not saying you have to support her for President. However, I think this is a key quote for a number of reasons. I personally do support Clinton for President because I think she has the best plan for this country. This statement opens the door for her defeat "when we do have a nominee" and also is a strong statement to address voters who may defect in a general election to the Republican party.
You don't have to change your mind about her, but I do encourage you to remember this quote and hold her to it if need be. Mark my words, this is an extremely important statement from her.
Rab
· 1 year ago
Another repug slopping at the trough, there is no end to their greed.
BarrieT
· 1 year ago
Again, Bear Stearns are mooning us all.
aquarius2
· 1 year ago
I guess we can add this guy's name to that of Mozilo, O'Neal, and Prince, all CEO's who helped to create this mortgage mess and all walked away with millions.
I have to stop reading hysterical Chris in Paris posts. What profit-taking are you talking about? Now of course, we have no idea the basis of Mr. Cayne's stock holdings and/or options, but my guess is that he didn't make much of a profit here. There is a difference between dumping a stake (albeit a substantial one) and unethical profit taking, which one would certainly be right to crow about if he had sold before the collapse of the stock, and that would have been illegal. At this point, the stock is dead, the deal is essentially done. Riding a billion down to $61 million is not pretty. Serves him right? Sure, but to say "that $61 million ought to immediately go into an escrow account controlled by the US government" is just the kind of crazed nonsense that Republicans love to site as the lunacy of the left. That is, in fact, a very un-American idea.
jr
· 1 year ago
you can kill a company and walk away scott free but get over a decade in prison for stealing bread to feed your family during a natural disaster
FNReedie
· 1 year ago
Don't forget it only went back to over $10 a share because JPMorgan upped their bid. This was an artificial enhancement to the stock so people like their Chairman could drop their stock.
Sideburns
· 1 year ago
YES! People who disagree forget that the company went bankrupt. If they were connected to the Bush regime they would have gotten $0 for their stock. Share holders are last in line. So he would have gotten nothing, but W bailed out his buddies and the guy got 61 mill while people lose their homes and jobs. 61 mil is alot of money, even for a CEO!
All Comments
There's obviously still some market value for Bears Stern, so it should just go to the highest bidder.
http://www.spiegel.de/international/business/0,...
if the Germans are worried about the financial markets, then so am I. It's almost time to order that wheel barrow to haul around dollars to buy those necessities.
http://www.nytimes.com/2008/03/27/us/politics/2...
Hell no! Jail time is more appropriate.
I'm doing good thanks. Hopefully you are as well.
http://alternet.org/audits/80623/?page=entire
And as the head of BS would say, "So?"
http://www.bloomberg.com/apps/news?pid=20601068...
And a report on MSNBC just now said that China is having problems with rising rice prices.
Food prices increased an average of 8% in the past year (they seem higher to this weekly shopper, though, as I have a penchant for remembering prices from week to week). You just can't believe govt figures anymore, like the "low" unemployment rate which doesn't report millions unemployed and not collecting benefits).
http://www.politicstv.com/blog/?p=3872
http://www.smirkingchimp.com/thread/13724
I can't wait until Obama becomes president, so he can tax you like the colonial Brits. :-)
Hey dude...colonial bits had lots of practice in Cymru, Erie, and Alba too. :-)
That makes two of us. I got bad feelings about the economy when I read the article.
Source :http://www.smirkingchimp.com/thread/13724
Clinton was asked by a questioner in the audience here what she would tell frustrated Democrats who might consider voting for McCain in the general election out of spite.
"Please think through this decision," Clinton said, laughing and emphasizing the word "please."
"It is not a wise decision for yourself or your country."
The crowd applauded loudly. [...]
"First of all, every time you have a vigorous contest like we are having in this primary election people get intense," she continued. "You know, Sen. Obama has intense support. I have intense support."
Clinton stressed that there are "significant" differences between her and Obama, but said "those differences pale to the differences between us and Sen. McCain."
"I intend to do everything I can to make sure we have a unified Democratic party," she said. "When this contest is over and we have a nominee, we're going to close ranks, we're going to be united."
She needs to wake up and smell her defeat.
Didn't American Airlines have a little problem explaining put-option activity on Sept. 10, 2001?
Global systemic crisis – End of 2008: Pension funds go off the rails
http://www.europe2020.org/spip.php?article534&l...
She needs to wake up and smell her defeat."
I'm not saying you have to like her. I am not saying you have to support her for President. However, I think this is a key quote for a number of reasons. I personally do support Clinton for President because I think she has the best plan for this country. This statement opens the door for her defeat "when we do have a nominee" and also is a strong statement to address voters who may defect in a general election to the Republican party.
You don't have to change your mind about her, but I do encourage you to remember this quote and hold her to it if need be. Mark my words, this is an extremely important statement from her.
http://money.cnn.com/2008/03/07/news/newsmakers...