Thursday, February 5, 2009

Hogs at the Trough

Once again this writer is gratified by news stories bearing proofs for his old, but edgy, positions. In this case, the characterization of all the rich and powerful in DC being "hogs at the trough". The relevations of Tom Daschle - purported friend of the poor - making $5 million in a couple years of light work for lobbying firms.

Here is one more example.

From WSJ: "WASHINGTON -- The White House's nominee for Director of the Central Intelligence Agency, Leon Panetta, has earned more than $700,000 in speaking and consulting fees since the beginning of 2008, with some of the payments coming from troubled financial firms and from a firm that invests in contractors for federal national security agencies, according to financial disclosures released Wednesday"

Gosh, nice work if you can find it.

Word of the Day

"Apotheosize" - verb, transitive [$10] from the file
Apotheosize means to exalt to divine rank.
Sentence: The propaganda campaign in the press to apotheozie Obama suffered a setback recently as a few of his appointments were shown to examples of DC cupidity and hypocrisy.

Le Mot du Jour

«Dérégler» - verb, transitive - a regular 'er' verb with the shift é to è before a syllable with a mute e in its conjugations.
Dérégler means 1. to affect the work (of a machine, etc.); 2. to unsettle, to upset, to disrupt.
La Phrase: La démission de Tom Daschle a déréglé la administration d'Obama.
English: The resignation of Tom Daschle unsettled the Obama administration.


Skimming Le Figaro, I found this story I had not heard before. Only in NYC:

***Quote begins ***
Il se fait appeler «Bill le renfloueur» : pendant deux jours, un homme mystérieux a distribué des billets de 50 et 100 dollars aux passants à Times Square. Mais sa démarche n'est pas tout à fait désintéressée.

Les Etats-Unis connaissaient déjà Joe le plombier, voici maintenant Bill le renfloueur : en deux jours, «Bailout Bill», comme il se fait appeler, est passé de l'anonymat total à la célébrité. Il faut dire que ce quidam a en quelque sorte lancé son propre plan anticrise, en distribuant des billets de banque aux passants, en pleine rue, à New York, mardi et mercredi .
***Quote ends***

In simple terms, a mysterious fellow now dubbed "Bailout Bill" passed out $50 and $100 bills (US currency) to passersby in Times Square. Le Figaro had a good photo of a young man holding one for the camera.


Bud said...

fine piece Bman.......i am not that surprised or outraged about ex-congress and administration members going into the private sector to cash in

but the hypocrisy is outrageous......indeed....Daschle 'friend of the poor'

he voted for 200plus tax increases during his years on the Hill

funny how Obama said during the campaign 'no lobbysists in my administration'.......lmaooooo

Bud said...

panetta also received monies from a couple firms that bid on govt defense contracts........and now he the head of the conflict there......looooooool

mfl59 said...

I have full confidence in Nancy Pelosi to make the right decisions for our nation....


mern said...

mern: "Nancy the jerk store called, they r running out of u!"

nancy: "whats the difference, u r their all time best seller!"

mern: "oh yeah, well i slept with your husband...................."

enjoy the ride

Bunkerman said...

That Merrill Lynch bonuses sure look bad when one sees the losses that firm had in Q4.

Hogs at the Trough - looting the firm.

mfl59 said...

Bunkerman Bud's idol says that there's no such thing as being overpaid...

Spin-em said...

15 YARDS!!!

"Hogs at the Trough"

mern said...

After two months of relative calm, there is a "monster move" coming for the stock market starting as early as next week, says Todd Harrison, CEO of

Harrison, who has largely been negative (and thus right) in the past year, is positioning himself for a rally that could bring the S&P 500 above 1000 by springtime, or an approximately 20% rally from current levels.

Not surprisingly, Harrison's upbeat outlook is based on a view the financials are poised to rally, despite (or maybe because of) the prevailing negativity surrounding the group.

honestly dont u think meredith has been getting spoon fed by toddo and succo?

betting against todd is generally a bad idea, imvho.

mern said...

just ask jimmy how his accounts have been doing since todd quit right after 911.

what a ass. your head traders best friends die and u wont allow him to take a week off to go to funerals??????????

where is jimmy the tulip when u need him?

Bunkerman said...

Hmmm so that fool, Stan O'Neal at Merrillh Lynch who got a hundred million and destroyed the firm was correctly paid ? Ditto Chuckie Prince of C.

Sheesh, what an ostrich ... blinded by ideology.

Frosty said...

Bud...what is the dry turban count for today...Bunky beefer smack down indeed, who needs accounting rules...think Bunky heros just broke orbit.

mfl59 said...

I really believe anything Christopher Dodd says....he is an honest man....he would never lie...

Frosty said...

Mern is I read that right...sifilis can destroy the brain with great speed...did you bend the pipes with the morning mini heater drain sir.

Bunkerman said...

Hmmm I found a word for my files the other day ... "lues" meant tertiary syphillis. A Mencken word, of course.

Maybe I'll use it tomorrow for the Word of the Day.

Frosty said...

hhmmmm...Bunky no comment mark to market...head in sand comes to mind. :)

Bunkerman said...

Why are financial assets required to be marked to market when every other assets on the books are not ?

Particularly when similar fire sale pricing for hard corporate assets would produce ridiculous books.

If a firm goes BK and liquidates its equipment, should every other firm holding that type of equipment write it down ?


Mark to "market" - lolol a beefer panic induced market - is insane and generates a spiral of markdowns.

Btw, I didn't realize the comment was directed at me.

mern said...

not smart enuff to have an opinion. just pointing out that mister perma bear, and who has been cleaning up this whole decade except 2003 is looking for a huge rally.

although my inflation seems to be ticking up. anyone look at dog food lately or the grateful tixs? 110 bucks to see warren haynes with bob, phil, mickey and bobby. thats just sad!

Bud said...

SKF.....thanks jim!!!!!!!! are you talkin about frosty ??? btw....find that jerbel ??

mfl59 said...

is "jim" a real blonde, or are those just highlights? I figured you must know, eh Bud?

Bud said...

oh no........a real gerry cooney special


Frosty said...

Oh Bunky...your PPT heros should be jailed...everytime the tape looks into the valley of death we get a rumor and the smart money, shorts, cover...I was leaning short this morning with a finger on the exit button...I knew we would get some bs attempt to float an idea to test the market waters...beefers follow, they no longer lead.

Bunkerman said...

oh frosty ... the beefers are just brawling - the mass moves out the door and back in, through the window and back in the door.

Someone takes a Cooney and the pack moves back.

Like a western saloon brawl - random moves.

Since when are the beefers rational ?

Pirahnasa aren't .. nor are hyenas. They just want to feed.

Frosty said...


mern said...

Sal: Dad, what's the blow-hole for?
Bob: I'll tell you what it's not for, son. And when I do, you'll understand why I can never go back to Sea World.

mystery solved


Frosty said...

oh Mark...there are nonono blue whales in captivity...frost would wreck an orca.

Spin-em said...

"takes a Cooney"