Tuesday, May 29, 2012

Articles worth a read, May 2012

Am extremely snowed under with work.
Will have to take a break from the blog.
I'll be back at some point after June 15.

05/30 Rajan to GOP: STFU about Bernanke
05/30 Housing: Plunge, again
05/30 GOP Wars: Another Trillion pissed away

05/29 Richard Burr: What has he accomplished?
05/29 Richard Burr: His favorite movie
05/29 Richard Burr: His favorite website

05/23 Europe: Driving into a brick wall
05/23 Budget issues: Common sense proposal
05/23 China: Caught with ore pants down

05/22 Mkt: Sucking wind
05/22 Europe: Needs politicians with a backbone
05/22 Basel III: Banks need $550+ Billion

05/21 Greece: Holy crap
05/21 Fitch: Greece pile-on
05/21 GOP: Poised to destroy our 401 Ks

05/20 Banks hedge?: No, they gamble
05/20 TED: Rich people do not create jobs
05/20 Romney: Lies, Lies, More Lies

05/19 The Rich: Win again
05/19 Bully and Idiot: Which is which?
05/19 Romney: Buy more guns

05/18 Euro mess: How it blows up
05/18 Romney: Mean, cruel brat
05/18 Hedge funds: Taking our money f/JP Morgan

05/17 Right-wing conservatives: Low IQ crowd
05/17 Wall Street Bankers: Psychopaths
05/17 Europe: How it gets solved

05/16 Romney: Spoiled bully
05/16 Wall Street: Gambles with our money
05/16 Education loans: Hobble our children

05/15 Education loans: Meltdown coming
05/15 Burr: Doing stupid crap
05/15 Corporations: That pay little tax

05/14 Ryan: The little idiot can't add
05/14 Corporations: Pay no tax
05/14 German Bankers: Screwed America

05/11 Bankers: Gambling again with our money
05/11 Swiss Chick: No more
05/11 Screw the people: We want guns

05/10 Romney: Gay basher
05/10 Rich people: Many are idiots
05/10 Democrats: Job creators

05/09 GOP: Shoves students over a cliff
05/09 Lugar: Defeated by tea baggers
05/09 GOP: Full of nut jobs

05/08 GOP Senators: Beat women
05/08 France: House price plunge soon
05/08 GOP: Let the people starve, buy guns

05/07 Bachmann: Defects to the Swiss
05/07 The new employer: Disability
05/07 Trust: Gone

05/04 Terminator to GOP: You suck
05/04 Baldwin to GOP: Boo
05/04 Stewart to GOP: Seriously?

05/03 GOP: Don't have the balls to cut spending
05/03 Rubio: Whoops
05/03 Obama job recovery: Better than Bush

05/02 Burr: Good at looking stupid
05/02 Burr: His boss
05/02 Cantor: Loser, even in his home state

05/01 GOP Ego: Too big to be reflected here
05/01 Milken Conference: Notes
05/01 Paul Ryan: Hey girl

Thursday, May 10, 2012

About that $2 Billion loss at JP Morgan

It's the same old story.  Nothing has changed since the financial crises.  No one has learned anything.  Our Politicians haven't lifted one fucking finger to make the appropriate changes to put a halt to the gambling that goes on in our nation's banks.

Read this article.  It explains all the details of JP Morgan's $2 Billion trading loss.

The JP Morgan Trader who lost the $2 Billion had made the bank about $100 Million a year for a number of years.   Then,  bang.  Huge loss.   If you pull his pay stubs,  I suspect you'll find that he's been very well compensated,  for years.  He's probably pocketed $50+ Million in bonuses,  maybe more.   But now that he's lost the bank $2 Billion?  Now that he's lost the bank significantly more than he ever made cumulatively?  He'll keep all his past bonuses.

Heads,  bankers win.  Tails,  we lose.

This shit has to stop.  It's the same stuff that got us into trouble in 2008.  CDS securities.  Gambling on so called debt insurance.  Just fucking put a halt to that entire market.  Just fucking put a halt to banks taking huge trading risks with our money.  If they want to bet and gamble,  then allow them to do it on their own dime.   If they trade,  they don't need to be a bank.  They don't need to be backed by Taxpayer money.  Trading needs to be done in private businesses that are subject to bankruptcy.  PERIOD.

Get off your lazy ass Richard Burr,  and get something done about this.

North Carolina deserves better than a lazy assed GOP golfer in the US Senate

Republican Senator Richard Burr.  Golfing.  On a week day.  Our nation is $15 Trillion in debt.  Our bankers are gambling away our deposits.   We're raped at the gas pump and in our hospital emergency rooms.  College costs a fortune.  We spend more money on defense that the next 14 nations,  combined.   And our Republican US Senator is on the fucking golf course,  getting his picture in the paper.   One of the 24 photos of the day on MercuryNews.com.

Our Republican Senator is a lazy SOB,  who needs his sorry ass run out of office.

Bankers are screwing America, and the GOP doesn't give a damn

There is major news this evening.  JP Morgan,  the one and only major American financial institution that Americans had ANY faith in after this latest GOP financial crises, announced that they had an "unusual" $2 BILLION loss from trading "synthetic securities".   In other words,  ladies and gentlemen,  JP Morgan took customer deposits,  gambled like drunken sailors,  and lost $2 Billion.  Stupid fuckers.

FIRST,  the GOP turned its back on rational regulation of the mortgage market and the world's economy went to hell.

THEN, the GOP fought tooth and nail to prevent the Dodd-Frank banking regulations from having any teeth.

NOW,  watch,  the GOP will wrap Jamie Dimon,  CEO of JP Morgan,  in our nation's flag,  pat him on the head,  forgive him,  and call him an American hero.

You want to know why I'm a Republican who will never vote for another Republican Politician?

  1. Break up the banks.
  2. Take away all the fucking bonuses they paid themselves while driving our economy into the sewer.
  3. Throw a couple thousand of them in jail and throw away the key.
  4. And slap reasonable and rational regulations on our banks that will prohibit our money from being gambled away.
But Richard Burr?  He's going to sit on his lazy ass and do nothing.  And next time there's a bill in congress pertaining to banking regulations,  Richard Burr will side with the Banks.

North Carolina deserves better than our pathetic Republican Senator Richard Burr.

Wednesday, May 9, 2012

News Flash

I VOTED! ... for Ron Paul.

I wanted to vote for that Swiss chick,  Michelle Bachmann,  because I think every registered Republican is deserving of a Republican Nut Job in the White House.  But in a crushing blow,  I discovered that Michelle was not on the ballot in my state.  I cried all the way home.