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mezcal's Comments

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Matt Taibbi: The Real Housewives Of Wall Street

Matt Taibbi: The Real Housewives Of Wall Street

Commented Apr 12, 2011 at 20:25:24 in Business

“Actually it is exactly us regular folks, David.
It is our collective responsibility as citizens to supervise our political process, a task at which we have failed miserably.

iirc, it was Jefferson who said, "We have given you a Republic: if you can keep it."
Sharp guy.”

David Parillo on Apr 12, 2011 at 20:59:12

“Yeah.... but hey I did say "except we let the few get away with it.... "
THAT is our mistake.... we allow it to happen... over and over again.. now all folks are gonna worry about is $5 gasoline for the summer....”
White House, Dems Tell GOP Not To Play Politics With Debt Ceiling

White House, Dems Tell GOP Not To Play Politics With Debt Ceiling

Commented Apr 11, 2011 at 20:45:07 in Politics

“"So the reduction of the debt by $600 billion under Clinton was the only time the debt was reduced."

I see this or similar statements fairly often.
Could you or anyone else show me when this occurred?

There were a couple months at the peak of the tech bubble when virtually no debt was added.
But I can find no time period during the Clinton administration during which the debt actually declined at all, much less by $600 billion.

http://www.treasurydirect.gov/NP/BPDLogin?application=np

This isn't an attack post, I'm just curious where your numbers are coming from.
As I said, they don't jibe with the Treasury records.”
Job Market Will Be 'Permanently Damaged' Without Action, Romer Says

Job Market Will Be 'Permanently Damaged' Without Action, Romer Says

Commented Apr 11, 2011 at 17:40:47 in Business

“Here's another interview with Ms. Romer from last week along a similar theme.

http://finance.yahoo.com/blogs/daily-ticker/bring-qe3-t-afford-not-more-romer-says-20110407-045249-959.html

It's like she lives in some parallel universe where Ben's magic unicorn bucks effect only those things her ivory tower models say they should.
Amazing really.”
IMF: U.S. Growth So Sluggish, Fed Needs To Keep Easy Money Flowing

IMF: U.S. Growth So Sluggish, Fed Needs To Keep Easy Money Flowing

Commented Apr 11, 2011 at 14:43:51 in Business

“The IMF is essentially a logistics/enforcement arm of the global banking cartel and they've never met an austerity program they didn't like.
If the bankers wish to impose their losses on various populations then they are free to attempt to do so without the false sheen of respectability provided by the cover of the IMF.

They are also free to pay for those efforts themselves.

I see no reason for global taxpayers to fund an organization that is actively working against their interests.”
huffingtonpost entry

Amazon Launches Online Media Storage Service, Amazon Cloud Drive

Commented Mar 29, 2011 at 21:34:43 in Technology

“Works fine.
Upon further review of the TOS though I've already emailed them and asked them to rescind my agreement and remove the service from my account.

To wit:

"5.2 Our Right to Access Your Files. You give us the right to access, retain, use and disclose your account information and Your Files: to provide you with technical support and address technical issues; to investigate compliance with the terms of this Agreement, enforce the terms of this Agreement and protect the Service and its users from fraud or security threats; or as we determine is necessary to provide the Service or comply with applicable law."

If you're just going to backup your pictures or throw a few songs on it, fine.
But anybody uploading proprietary business data or personal financial information (like Quicken backups) under that agreement is asking for it.”

Morgantheaxe on Mar 30, 2011 at 13:01:01

“Amen.”
Goldman Sachs Considers Creating Investment Fund To Help Russia Attract Foreign Capital

Goldman Sachs Considers Creating Investment Fund To Help Russia Attract Foreign Capital

Commented Mar 16, 2011 at 12:22:11 in Business

“Trying to find a home for all the magic Bernanke bucks they've skimmed off during the 'recovery.'”
AIG Repayment Of $6.9 Billion Pushes TARP Recovery To 70 Percent

AIG Repayment Of $6.9 Billion Pushes TARP Recovery To 70 Percent

Commented Mar 8, 2011 at 23:08:32 in Business

“"At Tuesday's closing share price, the sale of that stock would generate a profit for the taxpayer of about $14.22 billion."

ROFL. Just go right ahead and offer to sell 92% of the entire equity float of this garbage barge into the market and see what happens to 'Tuesday's closing share price.'”

moose and squirrel on Mar 9, 2011 at 04:13:29

“no one said it would be sold all at once.”

blessedfrog on Mar 9, 2011 at 01:45:09

“Was wondering why no one pointed that out :)

f/f”

ChasG on Mar 9, 2011 at 01:24:16

“Exactly.  The government's equity interests will have to be sold very slowly without becoming self-defeating.”
How Long Will It Take To Close The Job Gap? (CHART)

How Long Will It Take To Close The Job Gap? (CHART)

Commented Mar 6, 2011 at 13:28:26 in Business

“Amusing chart.
Immediately reminded me of this.

http://www.youtube.com/watch?v=M1owcncKCHg
Coping With Chicago's Foreclosure 'War Zones'

Coping With Chicago's Foreclosure 'War Zones'

Commented Mar 2, 2011 at 11:54:50 in Business

“"...many lenders would rather hand over the deed than pay for the repairs."

Too bad most of them don't have the deed or any idea who does have it.”

LiveMind on Mar 2, 2011 at 12:24:02

“yup-- and that means they shouldn't have been allowed to take it in the first place.”
Fannie, Freddie Narrow Losses, But Want More Government Aid

Fannie, Freddie Narrow Losses, But Want More Government Aid

Commented Feb 26, 2011 at 18:39:40 in Business

“Read the bolded part under "Fannie Mae Guaranty" very carefully.

http://www.efanniemae.com/syndicated/documents/mbs/mbspros/SF_March_1_2002.pdf

Doesn't get much clearer than that.
Any investor, including Bernanke, who failed to grok that has zero business whining to the taxpayer now.

Timmy needs to pull the Treasury guarantee from these fraud factories and BK them or the government itself is going to follow them down the drain.”

AZreb on Feb 27, 2011 at 10:12:18

“Timmy and some other cabinet members are about as worthless as teats on a goldfish. Don't look for him to do anything that will upset the applecart (money cart) of the financial institutions.”
Obama Administration Pushes For Multibillion-Dollar Settlement Of Mortgage Cases

Obama Administration Pushes For Multibillion-Dollar Settlement Of Mortgage Cases

Commented Feb 23, 2011 at 23:59:16 in Business

“Disgusting.
This is nothing more than a trojan horse built to cover up the fact that the bankers do not have the paperwork required to legally foreclose.

They are losing more and more cases and the MERS fraud is now under serious judicial scrutiny.

The banks/servicers need to deal with each individual fraudulent loan under the jurisdiction of each individual state as per existing and well-settled STATE law.

Fedgov has no role in this at all.

Well, I suppose they could suddenly decide to grow a pair and nationalize, break up and sell off the pieces of the fraudulent financial institutions like they should have done 3 years ago.
Glad I didn't hold my breath waiting for that to happen.”

nastywolf on Feb 24, 2011 at 00:05:14

“Exactly! F#29”
Case-Shiller: Home Prices Hit Post-Bust Lows In Most Big Cities

Case-Shiller: Home Prices Hit Post-Bust Lows In Most Big Cities

Commented Feb 22, 2011 at 11:15:35 in Business

“Better detail at Calculated Risk.
http://www.calculatedriskblog.com/2011/02/case-shiller-national-home-prices-are.html

First chart shows what happened pretty clearly and also demonstrates how much further down we need to go to even revert to the mean.
Even that wouldn't reflect collapsing incomes.

Greenspan, Bernanke and countless bankers and politicians should be decorating lamp posts for allowing this to happen.

Largest looting operation in the history of the world.”
Housing Collapse Underestimated By Realtors' Group: Report

Housing Collapse Underestimated By Realtors' Group: Report

Commented Feb 22, 2011 at 10:35:23 in Business

“So I presume this means that NOW is a good time to buy?”

Rayme on Feb 22, 2011 at 10:44:30

“Excellent. Our home has been on the market since April 2006. We used to get 2 or 3 lookers a week. We have not had one looker in 4 months. So much for a recovery.”
huffingtonpost entry

Detroit Schools Closing: Michigan Officials Order Robert Bobb To Shut Half The City's Schools

Commented Feb 21, 2011 at 22:47:07 in Education

“Indeed.
We either get out of the weeds or we're all going down together.”
huffingtonpost entry

The Coming Shutdowns and Showdowns: What's Really at Stake

Commented Feb 21, 2011 at 17:33:02 in Politics

“"Public budgets are in trouble because revenues plummeted over the last two years..."

So it is your position that public budgets built on the artificially inflated revenues and growth rates of the bubble years are realistic?
Seriously?

With all due respect, Professor, that is complete and utter hogwash.”
Madison Puts The Civility Back Into Discourse

Madison Puts The Civility Back Into Discourse

Commented Feb 20, 2011 at 00:33:01 in Politics

“There's that pretzel.

The "response" is pretty evident from the election results.
You are free to attempt to divorce that response from what prompted it and judge it in your own vacuum of course.”

Rowsdower on Feb 20, 2011 at 00:50:14

“I'm sure you understand the notion of "tyranny of the majority" and why it is dangerous, right? In this case, we have an alleged majority trying to take away the rights of a minority. That is wrong and needs to be stopped.”
Bernanke: Regulators Can Handle 'Too Big To Fail' Banks

Bernanke: Regulators Can Handle 'Too Big To Fail' Banks

Commented Feb 19, 2011 at 23:21:23 in Business

“The always-thorough Yves Smith took on Ben's audacity today.
I don't always agree with her politically but if you want to argue finance on her blog you best show up with more than platitudes and anecdotes.

"They must put something in the water at the Fed, certainly the Board of Governors and the New York Fed. Everyone there, or at least pretty much everyone who gets presented to the media, seems to have an advanced form of mental illness, namely, an pronounced inability to admit error. While many in public life suffer from this particular affliction, it appears pervasive at the Fed."

A most excellent take-down.

http://www.nakedcapitalism.com/2011/02/bernanke-blames-the-global-financial-crisis-on-china.html

AZreb on Feb 20, 2011 at 10:39:37

“And the Secretary of the Treasury, Geithner, is from the New York Fed.”
House Approves Bill With Massive Spending Cuts After All-Night Session

House Approves Bill With Massive Spending Cuts After All-Night Session

Commented Feb 19, 2011 at 12:32:03 in Politics

“"I've talked to a lot of people about whether they like the freedom to be cheated on credit cards, to be cheated on mortgages, to be cheated on overdraft fees, and I found that was not really a freedom they valued," Rep. Brad Miller (D-N.C.) said on the House floor on Thursday.

Awesome! He gets it!

Now who has a link handy to that list of prominent NC bankers that Rep. Miller has referred to Holder for criminal prosecution?

Anyone?”
Nancy Pelosi Aide: Government Shutdown More Likely Than Not: Report

Nancy Pelosi Aide: Government Shutdown More Likely Than Not: Report

Commented Feb 18, 2011 at 15:43:04 in Politics

“Yep.
The hypocrisy would be amusing if the potential consequences weren't so dire.”
Bank Regulator Pushing For Modest Settlement With Industry Over Improper Mortgage Practices

Bank Regulator Pushing For Modest Settlement With Industry Over Improper Mortgage Practices

Commented Feb 17, 2011 at 00:27:16 in Business

“"The administration now faces an uphill battle to get a tough regulator in the role."

There is a rather large assumption built into that statement that I respectfully suggest you reconsider, Shahien.

Kudos for your ongoing, detailed coverage of this mess btw.”
huffingtonpost entry

Walking Away: My Story

Commented Feb 3, 2011 at 22:11:35 in Business

“Nice writeup, Zannah. Kudos for accepting your share of the blame.
Sounds like you've done much of your homework on the overlapping financial scams that comprise our economy now.

As for the credit card bills, I'd tell 'em to jam those where the sun don't shine too.
They've almost certainly been securitized, sold and subsequently monetized by the Federal Reserve by now anyway.

Nobody is going to give you a prize for paying usurious interest rates for years and years.
In fact they're probably laughing at you.
Let it go.”
Farmers Field: AEG Lobbies State Lawmakers To Bypass Environmental Rules

Farmers Field: AEG Lobbies State Lawmakers To Bypass Environmental Rules

Commented Feb 2, 2011 at 21:26:26 in Los Angeles

“Heh, that pic says it all.
I'd be leery of buying a used car from Tony, much less a bond.”
huffingtonpost entry

Laffer Curves and Tax Cuts: What Does It Take to Kill a Zombie?

Commented Feb 1, 2011 at 14:17:31 in Business

“"...a lot of his economic growth was predicated on a tech bubble which was later handed over to bush as a bust."

But according to the historical revisionists that frequently post columns here (Robert Reich) that was a period of "rapid economic expansion."
In reality, of course, it was just another example of a speculative frenzy fueled by fraudulent credit growth which, as you correctly note, exploded in Bush's face.
That in no way excuses W's economic team from ramping the monetary/credit ponzi to the next level but the common meme here on HP of equating the tech bubble to legitimate economic growth is laughable.”

Kai-HK on Feb 6, 2011 at 08:13:45

“True that!!!.

Thanks for making a point that I have made several times before just too tired to do it again.

Kai”
Elizabeth Warren: Pricing Needs To Be Clearer

Elizabeth Warren: Pricing Needs To Be Clearer

Commented Feb 1, 2011 at 11:38:13 in Business

“She's been "Volkered."
Sad.”

ChasG on Feb 1, 2011 at 13:35:23

“Wow.  There are more assumptions in your comment than there are words.”
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