The Daschle nomination buys the farm - good, he's a sleazeball. I suppose one should not be surprised that one of the rich & powerful ruling class - who is so insistent on taxing the common man - turns out to evade taxes of large sums.
Gold is over $900 again and I read that Americans are paying premiums to buy Kreugerrands. That gets an "F". Don't do it. Wait. I still have plenty of gold, having re-bought some via GLD on the stock market around $750 in a retirement account to save taxes. I'd buy more on a pullback to the long term trend line.
This is a short post as I had to clear some snow for Mrs. B early this morning, and take out the trash and some donations. More snow clearing to come this afternoon.
Word of the Day
"Affray" - noun [$10] and verb, transitive (archaic) [$10] from the files
Affray means (noun) a noisy quarrel or brawl; (verb) to frighten or to disturb as in affray the peace.
Sentence: The metaphor of hedge funds in continual affray in the markets fits quite well. They even affray the common man by causing wild swings in stock prices.
Le Mot Du Jour
«Éclatant, e» - adjective
Éclatant means 1. bright, brilliant; 2. glaring, radiant; 3. dazzling, shattering; 4. loud ringing.
La Prase: L'administration éclatante d'Obama a foiré quand il a nommé Tom Daschle.
English Sentence: The dazzling administration of Obama slipped up when he nominated Tom Daschle.
About Me
- Bunkerman
- I have a pioneer mentality. My wife & I live in the woods - neighbors aren't visible except slightly in winter. Our "bunker" - hehe, really a fine home & barn - has plenty of security. We have four dogs: Krypto (age 9, Kelpie), Ava (age 13, Rat Terrier), Sky (Kelpie, age 5) and Lucky Star (age 1, kelpie). I don't take crap from anyone anymore, having enough resources & gear stocked up to survive in any circumstance. I have three degrees from Harvard including a Ph. D. in a physical science, and an MS in Management from MIT. I worked as an investment banker for about 25 years, mainly in secured finance, at three major Wall Street firms and for the last 17 years with my partners at our own firm. I'm semi-retired now, managing some private corporations and business interests and doing my own trading & investing. This is not to boast, but to give you an idea I know a little about some subjects from experience. The photo is my 1943 M16 half-track which I am restoring. These armored vehicles were ubiquitous in the US Army in World War II and Korea. It's driveable.
50 comments:
clear snow.....ugh
how you do that......old school.....with a shovel
or you go with a john deere
terrific editorial in wsj on tom daschle today.........what a f'ng hypocrite
he has voted to raise taxes throughout his career........and always was bashing lobbysists
what's the first thing he did when he lost his senate seat ?? work as a lobbyist makin 5m last 2 years.......good for him......but the hypocrisy is a joke
PS......i have nuthin against lobbyists.....in fact as a trader we need one desperately to stave off this trader tax
great to wake up to meredith whitney this morning
" there is no reason for investors to buy common stock of US banks "
" we are only 1/2 thru the recapitalization of US banks"
PS.....she was firmly against this stupid 'salary cap' on executives.....so am i
Bman would definitely like one thing meredith said will happen
lending will go back to the old ways.........walk into a local bank......develop a relationship and get a loan
the fica-score model didn't work.........the mega-bank repackaging of loans over and over is done
Most of the driveway (1/4 mile) is plowed. Then I used a snowblower for most of the rest the plow can't hit. Then I have to shovel the steps, walkway, small places and edges.
I agree with that loan part of Molotov's thesis.
Not too hard, really - just turn the clock back about 20 years.
Banks having huge trading portfolios is dead, too.
Fixed a booboo in my Le Mot du Jour - had the adjective in wrong gender. Administration is feminine as are all nouns ending in "-tion".
hey...people at Merrill Lynch and the like depend on those bonuses.....they need them...
gimmie a freaking break...you cry to the government for help...be thankful you have a job....nevermind a salary cap...
the "talent" is going to leave....lmaoooooooooo....the talent that blew up the global economy...oh no...
Chanos, for one, is tired of the blame-the-shorts litany, and he recalls a conversation with Bear Stearns’ Schwartz to make his point.
The day before the Fed’s rescue of Bear Stearns, Chanos says he was walking to the Post House restaurant in New York City, when, at 6:15 p.m., his cell phone rang. He saw the Bear Stearns exchange come up on his caller I.D. and took the call.
“Jim, hi, it’s Alan Schwartz.”
“Hi, Alan.”
“Well, Jim, we really appreciate your business and your staying with us. I’d like you to think about going on CNBC tomorrow morning, on Squawk Box, and telling everybody you still are a client, you have money on deposit, and everything’s fine.”
“Alan, how do I know everything’s fine? Is everything fine?”
“Jim, we’re going to report record earnings on Monday morning.”
“Alan, you just made me an insider. I didn’t ask for that information, and I don’t think that’s going to be relevant anyway. Based on what I understand, people are reducing their margin balances with you, and that’s resulting in a funding squeeze.”
“Well, yes, to some extent, but we should be fine.”
“This is now 6:15 on Thursday night, the night before the collapse,” Chanos says. “It was after a meeting with Molinaro”—Bear Stearns C.F.O. Sam Molinaro—“who basically told him at that meeting, ‘We’re done. We’re gone. We need money overnight we don’t have.’ So here he is, calling one of his biggest clients to go on CNBC the next morning to say everything’s fine when clearly it’s not. And he knew it wasn’t.”
Chanos refused to go on CNBC. By 6:30 the next morning, word was out that the Fed was engineering the rescue of Bear Stearns. Chanos realized that he could have been on CNBC while that was announced. “I thought, That fucker was going to throw me under the bus no matter what.”
“So here it is,” Chanos says. “Alan Schwartz takes the position ‘Short-sellers were our problem,’ and who did he try to get to vouch for him on the morning of the collapse? The largest short-seller in the world. You want to talk about ethics and who’s telling the truth on these things? It’s unbelievable.”
uhhhhhhhhh........enough of these f'ng long posts
just provide the link in the future.....if we're interested.......we'll read it
review of a couple k charts last night...conclude that the dow his headed to either 7k or 9k...look out shark, here comes frosty.
im really sorry Bud....i know how much "jim" hates rambling
Mern...do your thing...f the aazzzhead, he's jealous, it's sssoooooooo obvious.
Bunky...I feel krypto's paw on the sell button...dog biscuit time?
as long as Tom Savage signs on the dotted line today, everything will be okay...
merny pay cap????....thats bs....he's workin his azz off...pot plants for extra skim $$$
that was easy
when you get someone to shake in their boots and apologize profusely.......
mvp mvp mvp
PS.....don't be scared mfl.....we in cyberspace....ican't touch you.....or can i ???
uhhh slow your roll player, as Deacon Palmer would say.....
hard to believe you swung at such a pitch.....im guessing my sardonic ($10) tone wasn't evident....
oh wait........that was a 53mph knuckler.............back to the minors kid
lmaooooooooooooooooooooooooo
back.
krypto just re-allocates - the model want her to do some buying, but she is patient.
did Krypto beat the SP 500 last year Bunkerman?
received an interesting text today from my date last nite, here in tampa.
its 1030, im still dizzy and swollen.
geeshhh it was a cold nite last nite. that 3rd nut was hard to bust. i think some dust came out.
rubbers r for kids!
what's swollen ???
how do i post some a very interesting pic, from the chick, in jamaica?
"enjoy the ride"
BEST TAT EVER!
oh wait.............i misread.........i get it now.....looool
'back to the minors kid'
oh sal, man just back your bags and head to single A.
i guess u never hit a G spot before.
lmaoooooo
"that 3rd nut was hard to bust. i think some dust came out.
rubbers r for kids!"
lmaooooooooooooooooooooooooooooooo
that just sent my lunch all over the keyboard and screen
in bobs case, its called milking the prostate.................
loooooool
yes, by 10%. Maybe more.
GE double load point?
BAC taps please.........
dirt nap seems inevitable....
fine sale Bunkerman....fine sale sir...
Mern...when you hit the islands to stalk the dead, do you cap that bald dome with dreadlock wig?...a certain jealous aazzhead wants to know (private email indeed)...his mini heater has a layer of mold like a buck in felt.
lmaooooooooooooooooooooooooo
shut up bob...........you f'ng queer
mernie with the propane mini heater...congrats
Krypto...well played girl...she's the best...biscuit time indeed.
back to the snow work ... ugh
thank jerry for m jordan. the bald look is in! that goes for both heads!
girl in jamaica had some growth down there, and i was like "what is this"
cut my clippers out and shaved it tight, left a peace sign. she liked that.
i dont think she like i forgot her name like 63 times.
anlsysia or whatever.
it just sounded like anal too much and i cudnt get past that.
SDS terrific...........thanks jim!!!!!
"jim" my ass
uh, Krypto was a seller at spiddy 850 this morning...ppffftt...dog trumps skark.
merny..did you really go on vacation??.....lol
spin loooooooooooool
Why are people concerned about C and BAC ? The common is just a LEAP now with a zero strike.
They aren't going BK. It's just a matter of wheterh they can pay the preferred in a couple years or not. If not, massive dilution.
Done with snow work.
I think I'll hire someone next year. Give a working man a part-time job.
those preferred dividends are gonna get wiped out...or at least they should....
Volcker with the fine ladies man Jamaican trip hairs-cut..."enjoy the ride" Paul..
Anybody think that Stock Prices are going to get alot Lower before the end of this month?
Is that you Big Al??..lol
If Congress, Obama and the Fed screw it up, the market goes down.
Facts and events matter.
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