When Dan finally comes back to Seattle on tour, I gotta drag you there. His usual venue is the Tractor Tavern.
2
williamspews:
Now my thing is about the suicides in the Army Recruiting Command. I know they are investigating it, trying to figure out if that “toxic” leadership exists in other Bn’s. Well I can tell you that it does. There is probably toxic leadership in every BN in USAREC. They don’t want to believe it. It is funny that right before our safety stand down day, there is all these memo’s being put out about time off policy and how no one is to violate it. I say BS. They are tyring to cover their ass. I have been in recruiting since 2000 and nothing changes, the days are still long and the leadership is a bunch of asses that has no connection to the real army anymore.
3
Mr. Cynicalspews:
Just in from the Seattle Times!
Washington pension fund loses a fifth of its value in ’08
The Washington State Investment Board’s pension fund lost about a fifth of its value in 2008, bumping up the unfunded liability for the oldest pension plans and likely requiring workers to pay more into the system.
By The Associated Press
OLYMPIA — Washington’s public employee pension fund lost about a fifth of its value in 2008, bumping up the unfunded liability for the oldest pension plans and likely requiring workers to pay more into the system.
Benefits paid to retirees aren’t in danger. Like all governments, the state is legally required to pay workers the amount promised during their working years. But a healthy balance in the pension system’s investment fund makes it easier to meet those obligations.
The global economic slump has taken a large toll on the pension system’s investment fund. The balance declined from about $57 billion in September to $51 billion in December, The Olympian newspaper reported Friday.
Since its peak in September 2007, the fund has lost almost $15.6 billion.
Washington State Investment Board Director Joe Dear said the worldwide credit crisis has damaged virtually all the board’s investment options.
“Credit in our economy is like the air supply. And when the air supply is poisoned, there is no place to hide,” Dear told state lawmakers Thursday.
In recent years, the state’s pension investments have doubled the expected 8 percent return rate. Extraordinary losses in the past 15 months, however, have dropped the average return for the past decade to 5.4 percent.
At the same time, state officials are trying to bridge a projected budget deficit of about $6 billion over the next 2 /2 years. Gov. Christine Gregoire has suggested changing the way Washington calculates pension fund payments — a move that could save $386 million now but require more investments later.
The recent market losses aggravate two factors for the pension system, said Matt Smith, a state actuary who monitors the pension fund.
Most important, Smith said, the losses spur a significant increase in the unfunded liability for the oldest pension plans. Employees also will have to pay more into the newer pension plans over the next several years to recoup the losses, Smith said.
Dear told lawmakers that problems will continue until credit markets and housing prices improve. But he stressed that the investment board’s long-term strategy can account for market fluctuations over time.
“It’s a difficult situation, but if we have the courage of our convictions, we can get through this,” Dear said.
I TOLD YOU SO!
Now Gregoire is trying to scheme up a way to “cook the books” shoving the obligation to our kids and grandkids.
Whatta BITCH!!!
Impeach Gregoire!
4
Mr. Cynicalspews:
Newest DEMOCRAT Tax Cheater—
TOM DASCHLE!!!
Gee, Obama is picking some reaaaaaaaal winners.
You must be a Tax Cheater to qualify for the Obama Administration!!
1st Geithner…now Daschle.
What do you expect when Charlie Rangle can cheat and be named head of House Ways & Means…which oversees the IRS and makes Tax Code.
The Obama-holics are so stoned under his spell, they are unable to be realistic about how outrageous this is.
They just bow before his throne…
“Whatever you say Massa Obama”
We loves you Massa Obama.
No accountability for you Massa Obama.
What a bunch of KLOWNS!
Who is next Goldy????
5
Kspews:
Mr C @ 3- From where I sit, 20% losses is beating the market.
6
Kspews:
And @ 4- this ia opposed to the Republicans who have been trampling the Constitution.
7
Puddybud, Hey it's the New Year...spews:
Obama Signs Fair Pay Act – Now that he’s preznit
Obama paid his female staffers 78% of what Obama paid his male staffers while in the Senate
Obama Senate staff women average salary of $44,953.
Obama Senate staff men average salary of $57,425.
That is $12,472 less for women. Huh? Yes a change cummin to Amerikkka!
Gotta love how he flim-flammed the gushing ladies…
8
Roger Rabbitspews:
@3 I got my state pension check today. Just like clockwork. It came on time last month, too. And it’ll come next month.
With every passing day, my decision 35 years ago to opt for a gummint career is looking better and better!
Say, Cynical Klown, how are your retirement investments doing? I see Wells Fargo has gotten trashed since you bought it at 30; it’s under 19 bucks now. Didn’t I tell you not to throw money at failing banks? How does goat meat taste? How do you feel about eating your sex partners?
9
Roger Rabbitspews:
@4 Yawn. Didn’t see you complaining when Republicans did it. It’s our turn now.
10
Davespews:
It’s our turn now.
————–
Don’t kid yourself, people are fed up with this stuff. (Check out Huffington Post).
Here’s what he did (from HP):
Daschle filed amended tax returns for 2005, 2006 and 2007 to reflect additional income for consulting work, the use of a car service and reduced deductions for charitable contributions. He filed the returns after Obama announced he intended to nominate Daschle to head the Health and Human Services Department.
Most of the additional taxes resulted from unreported income from the use of a car service provided him by a close friend and business associate, Leo Hindery Jr. The unreported income for that service totaled more than $250,000 over three years.
Daschle also had unreported consulting income of $88,333, in 2007. He also had reductions to charitable contributions totaling about $15,000 over the three years covered, according to the Senate Finance Committee document. The document, marked “Confidential Draft,” is a committee statement concerning Daschle’s nomination.
And here’s the administration’s response:
The White House acknowledged Friday that “some tax issues” had emerged in connection with the nomination, but a spokesman said the president is confident the former Senate Democratic leader will be confirmed as the new health secretary.
Some tax issues? If you or I did that the IRS would be making our lives miserable. But in the case of Daschle they’ll take their lead from the administration and lawmakers and go easy on him. In fact, he’ll have no problems whatsoever with the IRS, unlike the guy who busts his butt every day just to get by.
I downloaded his album Macaroni Cola this afternoon (Amazon gave me some credits for buying something), and I laughed out loud at the song Shakespeare’s Got a Gun. Couple of other pretty good songs on the album.
Shakespeare’s got no use
for thick black glasses
who sit dissecting tragedies
in college English classes.
Shakespeare’s sick of words.
Shakespeare’s sick of letters.
Shakespeare watches videos,
the dirtier the better.
12
Roger Rabbitspews:
Why You Should Be Scared Shitless
Bad mortgages didn’t cause the financial meltdown. They’re only 5% of all mortgages. Bundles of shaky mortgages called collateralized debt obligations (CDOs) aren’t the culprit either, even though they sank several big banks (including Washington Mutual). In the big picture, they’re small ball.
The world’s financial system was brought to its knees by credit derivatives.
A credit derivative is an insurance policy on a debt. The purchaser of a credit derivative is betting the debtor will default, and has a direct financial interest in him doing so.
Credit derivatives allowed people to buy insurance against default of debt securities they didn’t own. A hedge fund in New York could buy a security that promised to pay out if Joe Blow in California didn’t make his mortgage payments to Indymac.
And because there was no limit on how many such insurance policies could be written or how many people could insure themselves against Joe Blow defaulting on a debt not owed to them, credit derivatives could multiply like amoebas in a petri dish. Which is what they did. The face value of credit derivatives in circulation jumped from $2 trillion in 1989 to $596 trillion in 2008.
By comparison, the total value of all the world’s shares of corporate stock is $36.6 trillion, and the total amount of defaulted mortgages in the U.S. is $1.2 trillion.
The credit derivatives in circulation exceeds the value of all the world’s assets. It exceeds the total amount of money in circulation. It even exceeds the capacity of governments to print bailout money to throw into the maw of the $600 trillion credit derivative monster. That’s why the hundreds of billions that Congress has shoveled into this financial crisis has simply disappeared with no tangible effect on the economy.
This crisis was born from a scam, from fraud, and when the shit hit the fan, there wasn’t enough money in the world to bail out the banks, insurance companies, endowment funds, and pension funds that bought these toxic instruments, these financial promises filled with hot air.
Now, there’s no stopping the spread of their toxic poison through the global economy.
That’s why Warren Buffett calls them “financial weapons of mass destruction” and Felix Rohatyn calls them “financial hydrogen bombs.”
They went off, and this is nuclear winter.
13
Roger Rabbitspews:
@10 You do realize, don’t you, that my statement was a parody? I shouldn’t have to spell that out.
14
Harry Poonspews:
re 4: No one died from tax-cheaters. What about the billions Cheney’s company, Halliburton, made in Iraq?
What about the billions Bush’s ‘Pioneer’ fundraiser Kenneth Lay stole from people through Enron?
And your’e worried about people fudging a little on their taxes.
“The rich don’t pay taxes. They hire people to make sure of that.” Gorge W. Bush
Your boy was swindling CA peeps with high energy costs while Cigar man was in office. The SEC documents prove Lay knew what he was doing.
Your chief barrister, Pelletizer recently claimed the wall street gang started giving to Obama cuz they knew he would win. Maybe Lay knew Gore was a loser so he supported Bush. But good ‘ol wrasslin coach headless lucy can’t give up that mantra even though the SEC proves otherwise.
What a fool!
As I remember Harry Poon was you fourth name. Are you recycling them again? “Harry” has been missing for a while Mr Arizona State I know All About Blacks 24×7.
16
Mr. Cynicalspews:
5. K spews:
Mr C @ 3- From where I sit, 20% losses is beating the market.
K–
They also have Billions of Real Estate holdings and the point is the losses are ultimately the responsibility of the TAXPAYERS of the State of Washington….on top of Gregoire’s $6 BILLION Shortfall she created by massive overspending.
Wake up K–
Gregoire wants to change the “Actuarial Assumptions” to try and scam us even more short-term…leaving a bigger turd to future generations.
She is a complete failure.
17
Mr. Cynicalspews:
6. K spews:
And @ 4- this ia opposed to the Republicans who have been trampling the Constitution.
K–
Keep spewing the generalties! Where is your PROOF?? These DEMOCRAT KLOWNS live Daschle & Geithner & Rangel have ADMITTED they cheated.
They have ADMITTED it…even though they all should have known better considering their positions. Appalling.
But keep your head in the sand or your ass K.
I thought Obama promised Change We Can Believe In??
Seems WORSE!
I guess CHANGE can be Bad Change, huh?
Obama is proving it with these highly flawed appointments.
Oh, forgot Pay-To-Play BILL RICHARDSON!!
Guys like you are too star-struck to acknowledge how bad this has been.
Stay in denial K–it’s your special place.
See the pattern here? One chickenshit chump Democrat after another.
18
Mr. Cynicalspews:
Rog–
Nice try on misrepresenting my portfolio…I have been in and out of WFC. Got back in again 1-1/2 weeks ago at 14.80.
I see your Cabella you were bragging about at 15 is now down to 5.61.
Rog, when it comes to investing, not everyone is as STUPID as you are. Besides, I have the good health (thank you Lord) to enjoy the fruits of my labor. We just got back from 3 weeks of record highs in Southern California. Heading to Mexico in a few weeks…then Tucson in April.
Sadly, you have to sit in your hutch sucking for each breath and using that oxygen tank. That’s what really makes you bitter.
Your pension checks end when you croak….leaving with Mrs. Rabbit hurting.
It’s all about you Rog. How miserable.
19
Mr. Cynicalspews:
Puddy–
Can you make lunch somewhere North of Seattle on Thursday Feb 12th??
20
Puddybud, Hey it's the New Year...spews:
Cynical, yes let’s make so. Shoreline, Mount Lake Terrace, Lynnwood, Edmonds, Everett
Name the place.
21
Mr. Cynicalspews:
How about Scott’s Bar & Grill in Edmonds?
Thursday 2/12 @ 11:30AM
8115 Ballinger Way…across from the old Aurora Village.
I insist on buying.
Look forward to meeting you.
I guess I won’t have any trouble picking you out when you come in, huh?
22
Roger Rabbitspews:
@15 Next you’re gonna tell us Eliot Spitzer chaired Cheney’s task force! Puddingbutt, as always, you are totally full of shit. Schemers and flimflam men are always around, lurking in dark alleys, but it was your boy bush who took the cops off the streets and put the crooks in charge of the federal agencies that were supposed to regulate them. The Enron scandal was strictly a Made-In-GOP fiasco, and anyone who claims differently is a lying wingnut BSer.
23
Roger Rabbitspews:
@18 “Your pension checks end when you croak….leaving with Mrs. Rabbit hurting.”
Of course you’re too stupid to recognize that for what it is — an insurance policy against suddenly dying in my sleep from Mrs. Rabbit’s distemper! You see, she was raised in the wild, so didn’t get her shots, and that led to certain problems …
24
Mr. Cynicalspews:
Rog–
Time to change yer Depends.
Not helping your thought process to be stewing in your own shit.
25
Marvin Stamnspews:
How many people have died in kentucky because of global warming, or the icce storms caused by global warming??
Why isn’t obama doing anything?
Does obama hate white people? Besides for calling his gamdma a typical white woman I mean.
This is going to be a fun 4 years. Only a couple weeks and he’s putting as many tax cheats into his cabinet as he can find. Funny how all these democrats didn’t pay taxes, I thought democrats loved paying taxes.
26
ByeByeGOPspews:
Yes Stammerin Marvin the child rapist – it WILL be a fun four years – followed by four more.
You and your ilk have been rejected. You are irrelevant. Nothing you say, do or think matters. You and your candidates have been ridiculed, laughed at and scorned. And you’re going to get a lot more of that asswipe.
WE CONTROL THE HORIZONTAL – WE CONTROL THE VERTICAL and you punk – are stuck in the Outer Limits where you belong.
The best you can do is hope we don’t catch you with your child porn.
Extend that hand President Obama…..Looks like all you get is a bag of S*#T back…
IMO We can’t talk Iran out of nukes….
28
correctnotrightspews:
@15: Way to ignore the facts Puddy! Ken Lay and Enron gave more money to Bush than to all other politicians combined. Ken was on a first name basis with your man , George W.
Former oilmen Cheney and Bush LOVED Ken Lay.
“Kenny boy”, as Bush affectionately named him, was at the head of the table for the Cheney energy task force that met in secret and came up with the “rip off America” energy plan.
Yup, the stinkin’ republican party was the place where Ken Lay found a good home.
Oh, and look who the republicans just put in charge of their party. Michael Steele! The guy who ripped off and tried to trick homeless people to vote for him. And like to pretend he is ….a democrat.
Hahahahahah, the head of the republican party thinks it is too toxic to be called a republican and pretends to be a democrat!
@27: What you don’t get Wrong stuff, is that Obama is smarter than you and smarter than the idiots running Iran.
The Obama position does three great things – it isolates Iran and strengthens our alliances, it reverses the erosion, the lack of respect and credibility problems caused by Bush and inside Iran it makes the mullahs panic becuase the great satan can’t be blamed for everything … brilliant!
30
Tommy Tompsonspews:
@4 – you should embrace the idea of not paying taxes, you are the one always complaining about high taxes. Daschle pays too much like the rest of the Republicans, so he simply didn’t want to pay, we all can understand that.
31
Puddybud, Hey it's the New Year...spews:
Correctnotright: The Enron Electrical stealing from CA fiasco happened before Bush became president. Kenny boy used contributions to try and keep his power when he knew the house of cards was falling. If you were an honest Dr., you know Bush had nothing to do with Enron’s stock. The SEC proved the house of cards was falling down before Bush took is first oath of office. Did you read the SEC report I placed on this blog?
Try time chronology vs standard correctnotright bile.
32
Puddybud, Hey it's the New Year...spews:
Pelletizer wouldn’t know truth if it slapped his “floppy” ears.
You didn’t read the SEC report which described the time chronology of the Enron house of cards.
What an oxygen starved moron.
33
correctnotrightspews:
@31: follow the money – Enron gave more to Bush as Governor and candidate than ALL other politicians – just when the the price-run up was goin on. Then, they helped cover it up with the Cheney task force.
Need an acountant, not a doctor to follow the money.
34
Daddy Lovespews:
Let’s see:
Bush & the Neocon Mafiosi concealed the “negotiations” in which energy companies wrote the bill to funnel US tax money their way, “fixed the intelligence around the policy” to lie us into Iraq, fired Republican US Attorneys who did not baselessly prosecute enough Democrats for their liking, designed torture techniques at the Cabinet level for Bush to approve (he said he did), and among thousands of other crimes, eavesdropped illegally on each and very American e-mail and phone conversation they could get their hands on, many times passing the hot ones around to their friends. And for every act except the approval of torture they denied that they did anything at all and never made any of it god.
But a Democrat who mistakenly fails to declare a loan of a car as “income ” and subsequently pays it all back plus fees and penalties is a criminal.
Which is why Republicans got thrown out on their sizeable asses and Democrats now control our government. Sorry, but America’s not as stupid as you apparently believe it is.
35
Daddy Lovespews:
I like this:
We can’t talk Iran out of nukes
Yeah. uh-huh. Because what we have in mind is discussing the latest movies and whether they think Angelina Jolie is hot, because we’re sure that they’ll stop enriching uranium isf we do.
I have a hard time understanding people who don’t understand anything. Like negotiation. Where each party has stuff the other wants, and each party, while guarding their own interests jealously all along the way, eventually agrees to give something to the other in return for something they want/need/can use against a neighbor/whatever.
You can ask a friend to drive you to the airport and promise to help them move if they do, but you can’t understand this. Amazing, really.
BTW: I should mention that Iran does not have “nukes” and is nowhere near acquiring them. If you had paid attention.
Apparently, although I don’t read it, the headline from the WA DC publication The Hill says congressional Republicans are “losing patience” with President Obama.
Really.
Let’s review:
1. Obama has bent over backwards to engage congressional Republicans — up to and including watering down his own stimulus bill — but they’ve had nothing constructive to offer beyond carbon-copy Bush policies, and have demonstrated absolutely no interest in cooperation.
2. Republicans ideas have clearly failed on a catastrophic level. Now, as Obama tries to clean up the GOP’s mess, they’re demanding that Democrats embrace their failed ideas.
3. Voters saw the results of the Republican economic agenda, and handed the GOP a series of devastating national defeats (yay!). The failed and disgraced losing side usually doesn’t get to drive the national policy agenda.
4. When Republicans define “bipartisanship,” they describe a process in which they get what they want, reality be damned.
5. Republican arguments throughout the stimulus debate have fallen far short of coherence. GOP lawmakers have effectively substituted solipsism for lucidity, with arguments such as the Democratic drive to “turn the United States into France,” and the notion that Bush’s economic policies were a sterling success until Democrats took over Congress.
And yet, when Republicans get together to tell one another how right they are, they conclude that they’re “losing patience” with Obama.
Riiiight.
38
Daddy Lovespews:
Go Huskies!
39
Mr. Cynicalspews:
33. correctnotright spews:
@31: follow the money – Enron gave more to Bush as Governor and candidate than ALL other politicians –
Just like Lehman Bros. gave way more to Obama than McCain..right?
40
Mr. Cynicalspews:
38. Daddy Love spews:
Go Huskies!
Romar is a great coach and how about those 2 guards…..Thomas & Dentmon.
With Brockman they are a great combo.
41
Puddybud, Hey it's the New Year...spews:
I wonder why Obama isn’t helping over 30+ thousand Kentucky homes without power. People dying.
Looks like Obama’s Katrina.
42
Puddybud, Hey it's the New Year...spews:
I’ll hold off on calling this person a Democrat, but as we know if they were conservative that fact would appear within the first two sentences.
43
Puddybud, Hey it's the New Year...spews:
Remember all those teacher sex scandals Puddy placed on HA last September? Nary a peep on their politics.
N in Seattle spews:
When Dan finally comes back to Seattle on tour, I gotta drag you there. His usual venue is the Tractor Tavern.
william spews:
Now my thing is about the suicides in the Army Recruiting Command. I know they are investigating it, trying to figure out if that “toxic” leadership exists in other Bn’s. Well I can tell you that it does. There is probably toxic leadership in every BN in USAREC. They don’t want to believe it. It is funny that right before our safety stand down day, there is all these memo’s being put out about time off policy and how no one is to violate it. I say BS. They are tyring to cover their ass. I have been in recruiting since 2000 and nothing changes, the days are still long and the leadership is a bunch of asses that has no connection to the real army anymore.
Mr. Cynical spews:
Just in from the Seattle Times!
I TOLD YOU SO!
Now Gregoire is trying to scheme up a way to “cook the books” shoving the obligation to our kids and grandkids.
Whatta BITCH!!!
Impeach Gregoire!
Mr. Cynical spews:
Newest DEMOCRAT Tax Cheater—
TOM DASCHLE!!!
Gee, Obama is picking some reaaaaaaaal winners.
You must be a Tax Cheater to qualify for the Obama Administration!!
1st Geithner…now Daschle.
What do you expect when Charlie Rangle can cheat and be named head of House Ways & Means…which oversees the IRS and makes Tax Code.
The Obama-holics are so stoned under his spell, they are unable to be realistic about how outrageous this is.
They just bow before his throne…
“Whatever you say Massa Obama”
We loves you Massa Obama.
No accountability for you Massa Obama.
What a bunch of KLOWNS!
Who is next Goldy????
K spews:
Mr C @ 3- From where I sit, 20% losses is beating the market.
K spews:
And @ 4- this ia opposed to the Republicans who have been trampling the Constitution.
Puddybud, Hey it's the New Year... spews:
Obama Signs Fair Pay Act – Now that he’s preznit
Obama paid his female staffers 78% of what Obama paid his male staffers while in the Senate
Obama Senate staff women average salary of $44,953.
Obama Senate staff men average salary of $57,425.
That is $12,472 less for women. Huh? Yes a change cummin to Amerikkka!
Gotta love how he flim-flammed the gushing ladies…
Roger Rabbit spews:
@3 I got my state pension check today. Just like clockwork. It came on time last month, too. And it’ll come next month.
With every passing day, my decision 35 years ago to opt for a gummint career is looking better and better!
Say, Cynical Klown, how are your retirement investments doing? I see Wells Fargo has gotten trashed since you bought it at 30; it’s under 19 bucks now. Didn’t I tell you not to throw money at failing banks? How does goat meat taste? How do you feel about eating your sex partners?
Roger Rabbit spews:
@4 Yawn. Didn’t see you complaining when Republicans did it. It’s our turn now.
Dave spews:
It’s our turn now.
————–
Don’t kid yourself, people are fed up with this stuff. (Check out Huffington Post).
Here’s what he did (from HP):
Daschle filed amended tax returns for 2005, 2006 and 2007 to reflect additional income for consulting work, the use of a car service and reduced deductions for charitable contributions. He filed the returns after Obama announced he intended to nominate Daschle to head the Health and Human Services Department.
Most of the additional taxes resulted from unreported income from the use of a car service provided him by a close friend and business associate, Leo Hindery Jr. The unreported income for that service totaled more than $250,000 over three years.
Daschle also had unreported consulting income of $88,333, in 2007. He also had reductions to charitable contributions totaling about $15,000 over the three years covered, according to the Senate Finance Committee document. The document, marked “Confidential Draft,” is a committee statement concerning Daschle’s nomination.
And here’s the administration’s response:
The White House acknowledged Friday that “some tax issues” had emerged in connection with the nomination, but a spokesman said the president is confident the former Senate Democratic leader will be confirmed as the new health secretary.
Some tax issues? If you or I did that the IRS would be making our lives miserable. But in the case of Daschle they’ll take their lead from the administration and lawmakers and go easy on him. In fact, he’ll have no problems whatsoever with the IRS, unlike the guy who busts his butt every day just to get by.
Goldy spews:
N @1,
I downloaded his album Macaroni Cola this afternoon (Amazon gave me some credits for buying something), and I laughed out loud at the song Shakespeare’s Got a Gun. Couple of other pretty good songs on the album.
Roger Rabbit spews:
Why You Should Be Scared Shitless
Bad mortgages didn’t cause the financial meltdown. They’re only 5% of all mortgages. Bundles of shaky mortgages called collateralized debt obligations (CDOs) aren’t the culprit either, even though they sank several big banks (including Washington Mutual). In the big picture, they’re small ball.
The world’s financial system was brought to its knees by credit derivatives.
A credit derivative is an insurance policy on a debt. The purchaser of a credit derivative is betting the debtor will default, and has a direct financial interest in him doing so.
Credit derivatives allowed people to buy insurance against default of debt securities they didn’t own. A hedge fund in New York could buy a security that promised to pay out if Joe Blow in California didn’t make his mortgage payments to Indymac.
And because there was no limit on how many such insurance policies could be written or how many people could insure themselves against Joe Blow defaulting on a debt not owed to them, credit derivatives could multiply like amoebas in a petri dish. Which is what they did. The face value of credit derivatives in circulation jumped from $2 trillion in 1989 to $596 trillion in 2008.
By comparison, the total value of all the world’s shares of corporate stock is $36.6 trillion, and the total amount of defaulted mortgages in the U.S. is $1.2 trillion.
The credit derivatives in circulation exceeds the value of all the world’s assets. It exceeds the total amount of money in circulation. It even exceeds the capacity of governments to print bailout money to throw into the maw of the $600 trillion credit derivative monster. That’s why the hundreds of billions that Congress has shoveled into this financial crisis has simply disappeared with no tangible effect on the economy.
This crisis was born from a scam, from fraud, and when the shit hit the fan, there wasn’t enough money in the world to bail out the banks, insurance companies, endowment funds, and pension funds that bought these toxic instruments, these financial promises filled with hot air.
Now, there’s no stopping the spread of their toxic poison through the global economy.
That’s why Warren Buffett calls them “financial weapons of mass destruction” and Felix Rohatyn calls them “financial hydrogen bombs.”
They went off, and this is nuclear winter.
Roger Rabbit spews:
@10 You do realize, don’t you, that my statement was a parody? I shouldn’t have to spell that out.
Harry Poon spews:
re 4: No one died from tax-cheaters. What about the billions Cheney’s company, Halliburton, made in Iraq?
What about the billions Bush’s ‘Pioneer’ fundraiser Kenneth Lay stole from people through Enron?
And your’e worried about people fudging a little on their taxes.
“The rich don’t pay taxes. They hire people to make sure of that.” Gorge W. Bush
Puddybud, Hey it's the New Year... spews:
Headless lucy@14: Give Ken Lay a rest.
Your boy was swindling CA peeps with high energy costs while Cigar man was in office. The SEC documents prove Lay knew what he was doing.
Your chief barrister, Pelletizer recently claimed the wall street gang started giving to Obama cuz they knew he would win. Maybe Lay knew Gore was a loser so he supported Bush. But good ‘ol wrasslin coach headless lucy can’t give up that mantra even though the SEC proves otherwise.
What a fool!
As I remember Harry Poon was you fourth name. Are you recycling them again? “Harry” has been missing for a while Mr Arizona State I know All About Blacks 24×7.
Mr. Cynical spews:
5. K spews:
K–
They also have Billions of Real Estate holdings and the point is the losses are ultimately the responsibility of the TAXPAYERS of the State of Washington….on top of Gregoire’s $6 BILLION Shortfall she created by massive overspending.
Wake up K–
Gregoire wants to change the “Actuarial Assumptions” to try and scam us even more short-term…leaving a bigger turd to future generations.
She is a complete failure.
Mr. Cynical spews:
6. K spews:
K–
Keep spewing the generalties! Where is your PROOF?? These DEMOCRAT KLOWNS live Daschle & Geithner & Rangel have ADMITTED they cheated.
They have ADMITTED it…even though they all should have known better considering their positions. Appalling.
But keep your head in the sand or your ass K.
I thought Obama promised Change We Can Believe In??
Seems WORSE!
I guess CHANGE can be Bad Change, huh?
Obama is proving it with these highly flawed appointments.
Oh, forgot Pay-To-Play BILL RICHARDSON!!
Guys like you are too star-struck to acknowledge how bad this has been.
Stay in denial K–it’s your special place.
See the pattern here? One chickenshit chump Democrat after another.
Mr. Cynical spews:
Rog–
Nice try on misrepresenting my portfolio…I have been in and out of WFC. Got back in again 1-1/2 weeks ago at 14.80.
I see your Cabella you were bragging about at 15 is now down to 5.61.
Rog, when it comes to investing, not everyone is as STUPID as you are. Besides, I have the good health (thank you Lord) to enjoy the fruits of my labor. We just got back from 3 weeks of record highs in Southern California. Heading to Mexico in a few weeks…then Tucson in April.
Sadly, you have to sit in your hutch sucking for each breath and using that oxygen tank. That’s what really makes you bitter.
Your pension checks end when you croak….leaving with Mrs. Rabbit hurting.
It’s all about you Rog. How miserable.
Mr. Cynical spews:
Puddy–
Can you make lunch somewhere North of Seattle on Thursday Feb 12th??
Puddybud, Hey it's the New Year... spews:
Cynical, yes let’s make so. Shoreline, Mount Lake Terrace, Lynnwood, Edmonds, Everett
Name the place.
Mr. Cynical spews:
How about Scott’s Bar & Grill in Edmonds?
Thursday 2/12 @ 11:30AM
8115 Ballinger Way…across from the old Aurora Village.
I insist on buying.
Look forward to meeting you.
I guess I won’t have any trouble picking you out when you come in, huh?
Roger Rabbit spews:
@15 Next you’re gonna tell us Eliot Spitzer chaired Cheney’s task force! Puddingbutt, as always, you are totally full of shit. Schemers and flimflam men are always around, lurking in dark alleys, but it was your boy bush who took the cops off the streets and put the crooks in charge of the federal agencies that were supposed to regulate them. The Enron scandal was strictly a Made-In-GOP fiasco, and anyone who claims differently is a lying wingnut BSer.
Roger Rabbit spews:
@18 “Your pension checks end when you croak….leaving with Mrs. Rabbit hurting.”
Of course you’re too stupid to recognize that for what it is — an insurance policy against suddenly dying in my sleep from Mrs. Rabbit’s distemper! You see, she was raised in the wild, so didn’t get her shots, and that led to certain problems …
Mr. Cynical spews:
Rog–
Time to change yer Depends.
Not helping your thought process to be stewing in your own shit.
Marvin Stamn spews:
How many people have died in kentucky because of global warming, or the icce storms caused by global warming??
Why isn’t obama doing anything?
Does obama hate white people? Besides for calling his gamdma a typical white woman I mean.
This is going to be a fun 4 years. Only a couple weeks and he’s putting as many tax cheats into his cabinet as he can find. Funny how all these democrats didn’t pay taxes, I thought democrats loved paying taxes.
ByeByeGOP spews:
Yes Stammerin Marvin the child rapist – it WILL be a fun four years – followed by four more.
You and your ilk have been rejected. You are irrelevant. Nothing you say, do or think matters. You and your candidates have been ridiculed, laughed at and scorned. And you’re going to get a lot more of that asswipe.
WE CONTROL THE HORIZONTAL – WE CONTROL THE VERTICAL and you punk – are stuck in the Outer Limits where you belong.
The best you can do is hope we don’t catch you with your child porn.
Right Stuff spews:
http://www.breitbart.com/artic....._article=1
Extend that hand President Obama…..Looks like all you get is a bag of S*#T back…
IMO We can’t talk Iran out of nukes….
correctnotright spews:
@15: Way to ignore the facts Puddy! Ken Lay and Enron gave more money to Bush than to all other politicians combined. Ken was on a first name basis with your man , George W.
Former oilmen Cheney and Bush LOVED Ken Lay.
“Kenny boy”, as Bush affectionately named him, was at the head of the table for the Cheney energy task force that met in secret and came up with the “rip off America” energy plan.
Yup, the stinkin’ republican party was the place where Ken Lay found a good home.
Oh, and look who the republicans just put in charge of their party. Michael Steele! The guy who ripped off and tried to trick homeless people to vote for him. And like to pretend he is ….a democrat.
Hahahahahah, the head of the republican party thinks it is too toxic to be called a republican and pretends to be a democrat!
http://www.msnbc.msn.com/id/15473528/page/9/
correctnotright spews:
@27: What you don’t get Wrong stuff, is that Obama is smarter than you and smarter than the idiots running Iran.
The Obama position does three great things – it isolates Iran and strengthens our alliances, it reverses the erosion, the lack of respect and credibility problems caused by Bush and inside Iran it makes the mullahs panic becuase the great satan can’t be blamed for everything … brilliant!
Tommy Tompson spews:
@4 – you should embrace the idea of not paying taxes, you are the one always complaining about high taxes. Daschle pays too much like the rest of the Republicans, so he simply didn’t want to pay, we all can understand that.
Puddybud, Hey it's the New Year... spews:
Correctnotright: The Enron Electrical stealing from CA fiasco happened before Bush became president. Kenny boy used contributions to try and keep his power when he knew the house of cards was falling. If you were an honest Dr., you know Bush had nothing to do with Enron’s stock. The SEC proved the house of cards was falling down before Bush took is first oath of office. Did you read the SEC report I placed on this blog?
Try time chronology vs standard correctnotright bile.
Puddybud, Hey it's the New Year... spews:
Pelletizer wouldn’t know truth if it slapped his “floppy” ears.
You didn’t read the SEC report which described the time chronology of the Enron house of cards.
What an oxygen starved moron.
correctnotright spews:
@31: follow the money – Enron gave more to Bush as Governor and candidate than ALL other politicians – just when the the price-run up was goin on. Then, they helped cover it up with the Cheney task force.
Need an acountant, not a doctor to follow the money.
Daddy Love spews:
Let’s see:
Bush & the Neocon Mafiosi concealed the “negotiations” in which energy companies wrote the bill to funnel US tax money their way, “fixed the intelligence around the policy” to lie us into Iraq, fired Republican US Attorneys who did not baselessly prosecute enough Democrats for their liking, designed torture techniques at the Cabinet level for Bush to approve (he said he did), and among thousands of other crimes, eavesdropped illegally on each and very American e-mail and phone conversation they could get their hands on, many times passing the hot ones around to their friends. And for every act except the approval of torture they denied that they did anything at all and never made any of it god.
But a Democrat who mistakenly fails to declare a loan of a car as “income ” and subsequently pays it all back plus fees and penalties is a criminal.
Which is why Republicans got thrown out on their sizeable asses and Democrats now control our government. Sorry, but America’s not as stupid as you apparently believe it is.
Daddy Love spews:
I like this:
Yeah. uh-huh. Because what we have in mind is discussing the latest movies and whether they think Angelina Jolie is hot, because we’re sure that they’ll stop enriching uranium isf we do.
I have a hard time understanding people who don’t understand anything. Like negotiation. Where each party has stuff the other wants, and each party, while guarding their own interests jealously all along the way, eventually agrees to give something to the other in return for something they want/need/can use against a neighbor/whatever.
You can ask a friend to drive you to the airport and promise to help them move if they do, but you can’t understand this. Amazing, really.
BTW: I should mention that Iran does not have “nukes” and is nowhere near acquiring them. If you had paid attention.
Daddy Love spews:
Isn’t it funny that the Republicans who actually have to deliver services to people are inexplicably in favor of the stimulus bill?
Funny.
Daddy Love spews:
Apparently, although I don’t read it, the headline from the WA DC publication The Hill says congressional Republicans are “losing patience” with President Obama.
Really.
Let’s review:
1. Obama has bent over backwards to engage congressional Republicans — up to and including watering down his own stimulus bill — but they’ve had nothing constructive to offer beyond carbon-copy Bush policies, and have demonstrated absolutely no interest in cooperation.
2. Republicans ideas have clearly failed on a catastrophic level. Now, as Obama tries to clean up the GOP’s mess, they’re demanding that Democrats embrace their failed ideas.
3. Voters saw the results of the Republican economic agenda, and handed the GOP a series of devastating national defeats (yay!). The failed and disgraced losing side usually doesn’t get to drive the national policy agenda.
4. When Republicans define “bipartisanship,” they describe a process in which they get what they want, reality be damned.
5. Republican arguments throughout the stimulus debate have fallen far short of coherence. GOP lawmakers have effectively substituted solipsism for lucidity, with arguments such as the Democratic drive to “turn the United States into France,” and the notion that Bush’s economic policies were a sterling success until Democrats took over Congress.
And yet, when Republicans get together to tell one another how right they are, they conclude that they’re “losing patience” with Obama.
Riiiight.
Daddy Love spews:
Go Huskies!
Mr. Cynical spews:
33. correctnotright spews:
Just like Lehman Bros. gave way more to Obama than McCain..right?
Mr. Cynical spews:
38. Daddy Love spews:
Romar is a great coach and how about those 2 guards…..Thomas & Dentmon.
With Brockman they are a great combo.
Puddybud, Hey it's the New Year... spews:
I wonder why Obama isn’t helping over 30+ thousand Kentucky homes without power. People dying.
Looks like Obama’s Katrina.
Puddybud, Hey it's the New Year... spews:
I’ll hold off on calling this person a Democrat, but as we know if they were conservative that fact would appear within the first two sentences.
Puddybud, Hey it's the New Year... spews:
Remember all those teacher sex scandals Puddy placed on HA last September? Nary a peep on their politics.
Tommy Tompson spews:
Capitalism at it’s best.
Tommy Tompson spews:
Capitalismat it’s best.