Comments for Jet Blue Pokes Fun at CEOs
CRbot says:
This comment thread has been HALO-IZED by CRbot.
http://realize.org/cr/halokit.php?halourl=http://www.haloscan.com/comments/calculatedrisk/5441737682666250833
CRbot Tue Mar 17 23:00:17 2009 CDT #
MrM says:
Filling in for Nemo
MrM Tue Mar 17 23:01:57 2009 CDT #
Nemo says:
I wish they didn't conflate CEOs of financial firms with CEOs of real businesses. The latter actually make an honest living, mostly.
Nemo Tue Mar 17 23:02:02 2009 CDT #
Guest says:
LOL...you all laughed thoughtlessly at the recent posting where the insolent, irresponsible worker was laid off along with her high strung yet responsible supervisor...and now you feel the need to defend some strains of CEOs! What a joke YOU are! :(
Parent Post
Guest Wed Mar 18 04:34:21 2009 CDT #
Blackhalo says:
The problem I have with CEO compensation of the non-financials, is that that compensation has been largely inflated to remain competitive with the financial sector CEOs. I am pretty sure I saw a report that showed zero or negative correlation with CEO compensation and earnings.
Parent Post
Blackhalo Wed Mar 18 07:48:30 2009 CDT #
Barley says:
I like Jet Blue
I do however prefer my private jet (co-share).
Barley Tue Mar 17 23:02:24 2009 CDT #
bobn says:
Yet, all the street corners are filled with bums, hookers, and dope dealers.
You say that like it's a bad thing. ;-)
bobn Tue Mar 17 23:03:15 2009 CDT #
Anonymous says:
The Obama administration turned up the heat on AIG over its employee bonuses, saying the insurer will be forced to repay U.S. taxpayers before it gets another bailout of $30 billion
http://www.reuters.com/article/topNews/idUSN1731687320090318
Let's see if AIG takes back the 173 mil in bonuses it paid with taxpayer money, then the taxpayers will give AIG a another 30BILLION. Yahoo what a deal baby. :-D
Anonymous Tue Mar 17 23:06:18 2009 CDT #
bearly says:
From the previous housing bottom threads - There is a massive shadow inventory of foreclosures or foreclosures-in-waiting ready to drop onto a market that is already at record inventory levels. Then there is regular pent up seller inventory. The housing bottom is a long way off...
bearly Tue Mar 17 23:07:33 2009 CDT #
Uncle Billy, Mental Widget says:
This is funny. I've somehow been able to time the end of the threads. The last 5 or so times I've posted, CR has a new thread up within just a few minutes. (This last time, the post didn't even show up)
The times they are a changin'
Posted two on DeLong's blog today. On topic, fairly interesting, etc. Just a couple of minutes later they had disappeared. Wrote him a note, and then one of them reappeared. One was regarding Setser and his work (the one that reappeared, and the other about Ezra Klein -- wondering if he was related to a conservative lawyer from Irvine, CA) Funny thing -- the very next post he made was a recap of a recent Setser post.
Uncle Billy, Mental Widget Tue Mar 17 23:07:41 2009 CDT #
Anonymous says:
Delong censors his comments with studious attention to detail - I haven't visited there for at least 18 months (except for one recent post concerning Yoo and how Delong's principled defense of tenure for torturers has changed to his principled stand to have said Schreibtischtäter removed from the faculty - though no actual facts have changed in Yoo's case). Unlike some, when I find someone/something on the web unacceptable, I just stop visiting - no reason to play drama queen, especially when it will just get deleted anyways. You can guess a few other sites I don't bother to visit though - censoring comment threads to present only the acceptable viewpoint is a sin that many sites now practice, Mish being especially notable in the sense that his ego has reached the point that any disagreement with what he espouses is met with the only possible response for such an independent thinker - deletion.
The web provides the illusion of multiple viewpoints - its reality are multiple mirrors reflecting increasingly intolerant streams of perspective that rarely mingle.
Parent Post
Anonymous Tue Mar 17 23:34:06 2009 CDT #
Michael says:
I see J-People.
Parent Post
Michael Wed Mar 18 09:03:58 2009 CDT #
otishertz says:
some day a real rain will come and wash all this scum away, said travis
otishertz Tue Mar 17 23:08:17 2009 CDT #
popeye says:
otishertz says:Today, 12:08:17 AM EDT
some day a real rain will come and wash all this scum away, said travis
Matthew 7:2
popeye Tue Mar 17 23:12:41 2009 CDT #
otishertz says:
not even bobby's bicycling could stop the blood and feathers flying
otishertz Tue Mar 17 23:15:08 2009 CDT #
otishertz says:
http://www.youtube.com/watch?v=N0_Lb8S7z7E
otishertz Tue Mar 17 23:16:02 2009 CDT #
Anonymous says:
I will have a tea leaf reading in about an hour
Anonymous Tue Mar 17 23:22:22 2009 CDT #
Comrade Bear (tj and the bear) says:
I do however prefer my private jet (co-share).
Life's a beach.
Comrade Bear (tj and the bear) Tue Mar 17 23:23:41 2009 CDT #
nades says:
chair...
Parent Post
nades Wed Mar 18 02:12:59 2009 CDT #
Paradigm Lost says:
Uncle Billy: JSkit eats comments. Shhhh...don't tell Save America Mikey. He thinks it's a left-wing conspiracy.
Paradigm Lost Tue Mar 17 23:26:42 2009 CDT #
Uncle Billy, Mental Widget says:
PNC Bank... quiet... interesting. This is where Blythe Masters' partner in crime parachuted off to from cds laboratory at JPM. And quite an advertising budget they've got there.
http://www.adweek.com/aw/content_display/news/account-activity/e3ic096395f454426dad30bcf7703a6b4a4
Uncle Billy, Mental Widget Tue Mar 17 23:27:18 2009 CDT #
Uncle Billy, Mental Widget says:
Paradigm: I've noticed. Don't like it when it happens to me :<
Uncle Billy, Mental Widget Tue Mar 17 23:28:41 2009 CDT #
alex black says:
Matthew 7: 2 No, I think it was DeNiro in about '71
alex black Tue Mar 17 23:29:03 2009 CDT #
Paradigm Lost says:
Uncle Billy: Sometimes that's not so bad...especially when you post something you later regret. It always eats my rants.
Well, tuck-in time. It's been peachy folks.
Paradigm Lost Tue Mar 17 23:32:45 2009 CDT #
Basel Too says:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aKysuRxEzKMY&refer=home
A $1.3 billion package of securities backed by Nissan Motor Co. auto loans became the first small piece of what Federal Reserve officials say may grow into a $1 trillion effort to unfreeze business and consumer lending.
How bizarre is it that the first TALF offering is made by a Japanese firm?
Basel Too Tue Mar 17 23:33:36 2009 CDT #
Martin, the Netherlands says:
Yes, I thought it extremely funny that the Federal Reserve is lending money to offer loans to American consumers to buy cars made by a French/Japanese car manufacturer. (Nissan is owned by Renault.) Would it perhaps show that there is something wrong with either American cars or American carmakers? I am eagerly awaiting details of the next TALF deals.
Parent Post
Martin, the Netherlands Wed Mar 18 10:14:45 2009 CDT #
popeye says:
No one who listened to the Charlie Rose program this [EST] morning will be buying tomorrow.
popeye Tue Mar 17 23:38:05 2009 CDT #
Comrade Bear (tj and the bear) says:
popeye,
Okay, I'll bite -- what's Rose covering?
Comrade Bear (tj and the bear) Tue Mar 17 23:40:01 2009 CDT #
popeye says:
Comrade Bear,
Basically CDS.
popeye Tue Mar 17 23:41:56 2009 CDT #
poic.v20 says:
To the GS apologist who was on this board a few nights ago.
"In an editorial on Tuesday, the Wall Street Journal pointed to Goldman's claim that "all of its AIG bets were adequately hedged and that it needed no 'bailout.'"
"Why take $13 billion then? This needless cover-up is one reason Americans are getting angrier as they wonder if Washington is lying to them about these bailouts," the Journal said.
The bailout has stirred resentment not just in the U.S. Congress, but on Wall Street, where investors have speculated that Goldman and its connections helped it get a better deal.
In recent years, many former Goldman executives have moved into government. Paulson left Goldman in 2006 as chief executive. The chairman of the New York Federal Reserve is former Goldman Chairman Steve Friedman."
I will say again f**k GS.
poic.v20 Tue Mar 17 23:42:13 2009 CDT #
popeye says:
Comrade Bear,
...... and how truely screwed we are.
popeye Tue Mar 17 23:44:59 2009 CDT #
Anonymous says:
Tea leaf reading was against the market, =(
Near term firmly down, medium term growing chance of unprecedented decline
But don't worry, these are tea leaf readings imbued with my biases
Anonymous Tue Mar 17 23:46:25 2009 CDT #
popeye says:
Comrade Bear,
"A conversation about AIG
with Hank Greenberg, Gretchen Morgenson, Carol Loomis and more on Mar 17, 2009"
Sorry, I can't link it. I don't think it's available over the net yet.
popeye Tue Mar 17 23:51:24 2009 CDT #
TC says:
...how truely screwed we are.
By say CNBC standards or CR et al. standards...There's a pretty wide spread there.
TC Tue Mar 17 23:52:19 2009 CDT #
CRbot says:
The Latest from Yves:
Duh, Hedge Funds Bought AIG Credit Default Swaps Too
CRbot Tue Mar 17 23:53:35 2009 CDT #
popeye says:
Clearly, I'm not pleased with the situation we face, but I'm even more pissed off by the opportunity squandered. These CDS ASSHATS walked on virgin soil, on unregulated turf ..... It is that for which they cannot be forgiven. ASSHAT FAILURES.
popeye Tue Mar 17 23:58:59 2009 CDT #
unirealist says:
some day a real rain will come and wash all this scum away, said travis
--otishertz
And it's a hard rain that's gonna fall...
--bdylan
unirealist Wed Mar 18 00:00:17 2009 CDT #
blah says:
so i guess are whole financial system is a casino for the ultra rich to play with. can we get the riots started already? and can the MSM grow some balls?
blah Wed Mar 18 00:00:37 2009 CDT #
Anonymous says:
actually all can play.
Parent Post
Anonymous Wed Mar 18 00:04:03 2009 CDT #
Anonymous says:
Dawg... you here?
Parent Post
Anonymous Wed Mar 18 00:04:50 2009 CDT #
Anonymous says:
CR,
This blog MUST be added to your roll...
www_dot_acredittrader_dot_com
The mos honest, incisive, questioning and analytical work on CDS I have seen online.
read and be pleased!
Anonymous Wed Mar 18 00:02:47 2009 CDT #
Uncle Billy, Mental Widget says:
Uh, a little off topic, but this is vaguely interesting:
So Bill Demchak, Blythe Masters' partner at JPM, went to PNC & Blackrock. Bill Demchak "co-invented" cds with Masters, or so the story goes:
http://www.freedom4um.com/cgi-bin/readart.cgi?ArtNum=88925
Now who runs Blackrock? The guy who is credited with pioneering MBS -- Lawrence Fink. Are we seeing a pattern here? These snippets look like building blocks.
I've always wondered who was on the rest of the team at JPM, and who led it. This tells the tale in glorious detail:
http://www.calculatedriskblog.com/2007/03/financial-times-invention-of-credit.html
(Follow link to FT article)
<blockquote>“Who’s that?” I whispered to a banker next to me, pointing to a platform where two men and two women were discussing whether investors “really understand the full ramifications of CDO risk”. (Their conclusion seemed to be: “not always”, which didn’t surprise me, given how little of the jargon anyone might have understood.) My neighbour furtively whispered that he worked for one of the biggest US banks and was therefore forbidden to talk to journalists, “since you guys keep writing that crap about derivatives blowing up the world”. But then he relented: the speakers, he said, were apparently consultants or partners in hedge (big private investment) funds; but almost all used to work for JPMorgan, the big US bank.</blockquote>
If you look at the original team -- Hancock, Masters, some others, you see a common theme: England. Masters came from Cambridge, Hancock from Oxford, another LSE.
Hancock went off to form Integrated Finance limited with Robert Merton (Black-Scholes), Roberto Mendoza (very interesting person, CFR, Friends of Phil Gramm PAC, GS, etc.), NIB Capital ("quiet" dutch co.), & Ace Ltd, based in Zurich. Hancock ended up at Key Bank.
Uncle Billy, Mental Widget Wed Mar 18 00:05:48 2009 CDT #
blah says:
i already do play! not much. id rather riot.
blah Wed Mar 18 00:19:44 2009 CDT #
Rob Dawg says:
Dawg... you here?
Wassup?
Rob Dawg Wed Mar 18 00:29:53 2009 CDT #
Bob Dobbs says:
"From the previous housing bottom threads - There is a massive shadow inventory of foreclosures or foreclosures-in-waiting ready to drop onto a market that is already at record inventory levels. Then there is regular pent up seller inventory. The housing bottom is a long way off..."
Say it, brother! Amen!
I don't like to think that prices will take two or three years to finish falling, but they might well. Debacles take patience.
Bob Dobbs Wed Mar 18 00:37:32 2009 CDT #
Rob Dawg says:
If the banks don't start clearing backlogs they are going to start having the same people in final notice on the original and also starting preforeclosure on a second property. The real crime is that by not being occupied and not being on market these REOs are distorting the demand curve.
Rob Dawg Wed Mar 18 00:41:27 2009 CDT #
adornosghost says:
The bewildered herd is finally connecting CEO=Sociopath. Now, if we just didn't have an economic system that t reward sociopathic behavior, and a media empire that did not idolize them, we might be able to segregate these handicapped humans , and help them.
adornosghost Wed Mar 18 00:51:43 2009 CDT #
mock turtle says:
not in this life
the relationship between CEOs, boards of directors and the media is incestuous
Parent Post
mock turtle Wed Mar 18 01:09:43 2009 CDT #
DIPing to China says:
Tiresome. Fear is only being shown by the suffering classes. The financial/corporate sector act with impunity.
Basic decency has gone on permanent holiday and we all pretend good times will return. Disney land reality has been daily life for so long we no longer have the ability to tap our heels and regain a modicum of control. Unfreakinbelievable. Wake me up when the fires are lit.
To everything there is a season.
DIPing to China Wed Mar 18 00:55:15 2009 CDT #
alex black says:
"By not being on the market, these REO's are distorting the demand curve."
Isn't that the point? I presume the banks won't sell their REO's (a total of 700,000 for the "shadow inventory" - sorry, no link) because if they do, they have to book it as a loss, and they need to avoid doing that. Perversely, it's to their benefit to let the houses sit and rot rather than to sell them now for the best price they'll ever get and have to log it. Works for them collectively too, as withholding 700,000 houses from the market keeps prices on their outstanding collateral from sinking.
Doing nothing is the new black.
alex black Wed Mar 18 00:57:07 2009 CDT #
brian says:
Hard times on Sesame Street: http://www.youtube.com/watch?v=69tFfdNTNg4
brian Wed Mar 18 00:58:47 2009 CDT #
mp says:
OT
Re: Obama household stimulus
I'm getting a lot of feedback that many are having their withholding increased to offset the stimulus reduction.
They are concerned they'll have a withholding shortfall on their 2009 taxes.
Anyone else hearing any rumbles?
mp Wed Mar 18 01:00:28 2009 CDT #
Hymns for the Lord says:
ROTFL. (Although I know I shouldn't be.)
Parent Post
Hymns for the Lord Wed Mar 18 01:55:00 2009 CDT #
Rob Dawg says:
Doing nothing is the new black.
Yes and the market signal they are sending out is that there is no supply imbalance thus fooling homebuilders to keep building making things worse.
Rob Dawg Wed Mar 18 01:00:59 2009 CDT #
Anonymous says:
'thus fooling homebuilders'
'Fooling'? Please - that would imply that the people building homes are completely and utterly unable to actually understand the business they are in, which is building.
Which is the big hint - they build, otherwise they don't exist. There may be stupidity, avarice, stubbornness, delusion, blind optimism or incompetence involved, but the basic truth remains the same - a builder that is not building is not in business.
Why such straightforward facts are impossible for some to grasp is telling - it mainly means that they have never worked in the industry they are commenting on.
Parent Post
Anonymous Wed Mar 18 02:24:10 2009 CDT #
CRbot says:
The Latest from Yves:
US Deviating Considerably From Swedish Banking Crisis Best Practices
CRbot Wed Mar 18 01:06:37 2009 CDT #
alex black says:
If homebuilders keep building, Detroit will be our new housing market model. Love the stories of investors from all around the world descending on Detroit, having heard that one can buy houses for $5000, and to buying up a few dozen to rent. One idiot bought over 100 in a week. I can see them showing prospective tenants, who are thinking, "Let's see... a $500 security deposit.... I can get $200 for these cabinets, $300 for the bathroom fixtures. The oopper in the walls will fetch a few hundred...."
alex black Wed Mar 18 01:12:08 2009 CDT #
otishertz says:
my comments are vanishing between computers and only appear on the computer where they were written. 3 computers, three different results.
otishertz Wed Mar 18 01:14:44 2009 CDT #
Guest says:
mp,
you mean stuff like this?
Subject: How the Stimulus Bill affects you
Most employees will notice a change in their Federal Tax Withholding on this Friday's paycheck dated 3/13/09. These changes are in place due to the Stimulus Bill recently implemented.
Attached is a bulletin from ADP outlining the payroll changes in the AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009.
Please review your payroll check stub. Your current Taxable Marital Status and your Exemptions/Allowances are at the top of your paystub.
We can NOT advise you as to changes you should make, if any. Please contact your tax advisor or visit the IRS website: www.irs.gov to determine what course of action best suits your personal situation
Guest Wed Mar 18 01:17:16 2009 CDT #
nades says:
Diego sales taxed jumped to 8.75% up a whole point... not that that is what you're talking about... just felt like venting! :D
Parent Post
nades Wed Mar 18 02:17:22 2009 CDT #
MLM says:
Anon - thanks for the credit trader link. Excellent.
MLM Wed Mar 18 01:18:49 2009 CDT #
otishertz says:
if our robot overlords wanted to diffuse a dialog where resistance to the banker's coup might foment they could use JS-KIT.
otishertz Wed Mar 18 01:21:22 2009 CDT #
otishertz says:
if our robot overlords wanted to diffuse a dialog where resistance to the banker's coup might foment they could use JS-KIT.
#2
otishertz Wed Mar 18 01:23:39 2009 CDT #
Anonymous says:
hray, it werked.
Anonymous Wed Mar 18 01:25:25 2009 CDT #
mp says:
guest- "mp, you mean stuff like this?"
Yes, exactly. I'm hearing that many individuals are having their withholding upped to offset the stimulus reduction.
Obama's people have not done a good job explaining this (surprise, surprise). People are worried they'll be caught short at tax time next year.
If this happens to any great degree, Obama's people have out-smarted themselves and their household stimulus plan will backfire.
mp Wed Mar 18 01:25:33 2009 CDT #
Uncle Billy, Mental Widget says:
If someone is bored... could you go here and see if the post button is disabled for you as well?
http://delong.typepad.com/sdj/2009/03/je-suis-desole.html#comments
Uncle Billy, Mental Widget Wed Mar 18 01:26:27 2009 CDT #
EvilHenryPaulson says:
He has gone Mankiw and disabled comments
Honestly, I haven't read his blog much at all since he couldn't keep up with reality
Parent Post
EvilHenryPaulson Wed Mar 18 01:30:06 2009 CDT #
otishertz says:
i'm getting about a 50% penetration rate on my comments. how many members of this community have been lost to the flawed comment system?
otishertz Wed Mar 18 01:27:30 2009 CDT #
nades says:
otishertz, explain, 50% is poor? granted i think its a pain too but its better than nothing... its like nova's stories, you learn to make due ;) cheers!
Parent Post
nades Wed Mar 18 02:19:45 2009 CDT #
Uncle Billy, Mental Widget says:
I went away for a month or so, came back to try it after it was revamped, but... frustrated enough to leave again (to the delight of a few, I'm sure)
Uncle Billy, Mental Widget Wed Mar 18 01:28:41 2009 CDT #
otishertz says:
what a waste o time
otishertz Wed Mar 18 01:30:17 2009 CDT #
Uncle Billy, Mental Widget says:
Thanks EHP. Seems like you're right.
Uncle Billy, Mental Widget Wed Mar 18 01:37:46 2009 CDT #
Comrade Kristina says:
mp, late to the thread but if you are still out there, my hubby just got his first check from his new job, literally NO Federal taken out of a 420 dollar check other than Medicare and SS. It's a partial week check so perhaps that is it but very strange.
Comrade Kristina Wed Mar 18 01:44:52 2009 CDT #
Comrade Kristina says:
I for one find Jet Blues ad campaign hilarious and effective. I don't even like to fly but I'd fly with Jet Blue just to give them business.
Comrade Kristina Wed Mar 18 01:47:37 2009 CDT #
Comrade Kristina says:
I only lose about 5% if that. I just am not posting as often. I've been busy gardening and working. I think most of us are still lurking at some level but really, what is there to say that hasn't been said?
Comrade Kristina Wed Mar 18 02:25:12 2009 CDT #
Uncle Billy, Mental Widget says:
For your early morning comedy needs:
http://www.pbs.org/wgbh/nova/stockmarket/
Nova documentary about the Black-Merton-Scholes Formula. The film tells the fascinating story of the invention of the Black-Scholes Formula, a mathematical Holy Grail that forever altered the world of finance and earned its creators the 1997 Nobel Prize in Economics.
Uncle Billy, Mental Widget Wed Mar 18 02:26:50 2009 CDT #
nades says:
I've always taken issue with its dependence on history. It is dampened or exaggerated because of that in time of change. Better than anything I can think of but flawed none the less...
....
g'nte
.........
Parent Post
nades Wed Mar 18 02:30:28 2009 CDT #
unirealist says:
I'm getting a lot of feedback that many are having their withholding increased to offset the stimulus reduction.
--mp
Not that specifically, but here's something suggestive of a similar dynamic: my wife (a teacher) is being required to take 6 unpaid days before the end of the school year - which more than cancels out any tax-reduction.
Really, I don't see how the stimulus tax credit will even put a dent in wages/salaries lost to involuntary "time off" and reduced work week.
unirealist Wed Mar 18 02:27:53 2009 CDT #
CRbot says:
The Latest from Yves:
Guest Post: It's the writedowns, stupid
CRbot Wed Mar 18 03:00:51 2009 CDT #
CRbot says:
The Latest from Yves:
Guest Post: Just Let It Go
CRbot Wed Mar 18 03:07:46 2009 CDT #
CRbot says:
The Latest from Yves:
Links 3/18/09
CRbot Wed Mar 18 03:09:09 2009 CDT #
CRbot says:
The Latest from Mish:
Yet Another Incompetent Treasury Appointment
CRbot Wed Mar 18 03:54:37 2009 CDT #
ille.vir says:
Jet blue, the guys who violated their own privacy policy and handed over customer records to the Feds? Nice commercials, and I hear it's a good experience, but no thanks.
ille.vir Wed Mar 18 04:02:49 2009 CDT #
CRbot says:
The Latest from Ritholz:
When is Warren Buffett going to fix Moody’s?
CRbot Wed Mar 18 05:06:18 2009 CDT #
Jay D. says:
............UK : Unemployment passes two million ............
http://news.bbc.co.uk/2/hi/business/7947766.stm
Jay D. Wed Mar 18 05:07:20 2009 CDT #
Jay D. says:
...........Japan : Bank of Japan Expands Government Bond Buying to Stem Recession ............
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aoUdAmD_mo0Y
.......... what fed will say today?...........interesting......................................
Jay D. Wed Mar 18 05:18:39 2009 CDT #
1 currency [yogi] says:
HLN featuring Jet Blue ad as "news" too.
1 currency [yogi] Wed Mar 18 05:26:13 2009 CDT #
Jay D. says:
..........be careful ......someone might steal your electricity............
http://www.usatoday.com/money/industries/energy/2009-03-16-electricity-thefts_N.htm?loc=interstitialskip
..............shiiiiiit!!!!!!....I cant stand this recession anymore.....................
Jay D. Wed Mar 18 05:29:44 2009 CDT #
Comrade Byzantine_Ruins says:
otishertz says:
Today, 2:27:30 AM
i'm getting about a 50% penetration rate on my comments. how many members of this community have been lost to the flawed comment system?
Agreed. The new commenting system is whack.
Comrade Byzantine_Ruins Wed Mar 18 05:37:48 2009 CDT #
Jay D. says:
........simply too many obsessive compulsive repliers.....
Jay D. Wed Mar 18 05:40:16 2009 CDT #
CRbot says:
The Latest from Ritholz:
AIG Structured Products
CRbot Wed Mar 18 05:53:19 2009 CDT #
CRbot says:
The Latest from Ritholz:
IBM to Buy Sun Micro?
CRbot Wed Mar 18 06:08:27 2009 CDT #
traderwalt says:
The AIG CEO will probably claim that he had to pay bonuses to retain personnel who can unwind CDO contracts.
I'd bet lots of money that some readers here at CR have the skills or could learn them quickly and would work for considerably less that million dollars per year to do these jobs. I can and would.
AIG could also ask for bids to subcontract the liquidation instead of assuming that only they have the skills to clean up their own mess.
traderwalt Wed Mar 18 06:17:53 2009 CDT #
Blackhalo says:
"AIG could also ask for bids to subcontract the liquidation instead of assuming that only they have the skills to clean up their own mess."
I think it is a pretty big assumption on the Gov's part that "you broke it, you fix it." is some kind of axiom. I, myself, am partial to, "you broke it, you bought it."
Parent Post
Blackhalo Wed Mar 18 07:44:41 2009 CDT #
Anonymous says:
In terms of not understanding something -
'Why is the modern financial system so profitable? Shouldn't it actually be getting less profitable over time?' http://www.motherjones.com/kevin-drum
This is one of the underlying problems of much discussion - it is blatantly obvious that the modern financial system isn't profitable, and even more blatantly obvious that it is completely without profit at this point, except for those individuals able to divert funds to their personal accounts in whatever form seems least likely to attract prosecution.
America is not a post-industrial consumer society, for example. America is a debt ridden economy with horrendous disparities of wealth and power, a society which has spent a generation living off the capital of previous investment, with minimal interest or aptitude in actually maintaining existing infrastructure. A country dominated by media dreams of fame or celebrity leading to wealth, with never a bad ending or undeserving reward.
But how can any reasonably intelligent American citizen talk about 'profitability' for the financial industry while trillions of dollars of taxpayer funds are being spent to preserve that same industry from bankruptcy - or worse.
Anonymous Wed Mar 18 06:19:46 2009 CDT #
Counterpointer says:
That illuminati line was pretty good.
C
Counterpointer Wed Mar 18 07:02:28 2009 CDT #
CRbot says:
The Latest from Denninger:
Had Enough FRAUD America?
CRbot Wed Mar 18 07:02:38 2009 CDT #
Cinco-X says:
Denniger; Right on target again.
Parent Post
Cinco-X Wed Mar 18 07:07:50 2009 CDT #
The Daily Bail says:
Bailout Bonus Brouhaha: The Sheister Heisters Of AIG (Video and Links For 3-18-09)
Five new videos and 17 links for this morning.
http://dailybail.com/home/bailout-bonus-brouhaha-the-sheister-heisters-of-aig-video-an.html
I stayed up all night putting it together. Someone put me out of my misery.
I also wrote this:
The AIG Bonus Imbroglio: $165 Million Versus $165 Billion
http://dailybail.com/home/the-aig-bonus-imbroglio-165-million-versus-165-billion.html
Has a few special photos. Enjoy.
I'm going to sleep. Wake me up when SRS hits 55.
The Daily Bail Wed Mar 18 07:03:05 2009 CDT #
Rob Dawg says:
Counterpointer says:Today, 5:02:28 AM PDT
That illuminati line was pretty good.
Damn, and i really liked you. Now when the Knights Templar climb out of the black global warming helicopters do not resist. They are instructed to make this as painless as possible. Honest, I tried but both elvis and JFK outvoted me. Besides Shadow President Rodam is always doing what she wants so the vote in this case was a formality.
Rob Dawg Wed Mar 18 07:19:38 2009 CDT #
Basel Too says:
bac juiced pre-market cuz lewis says they're on track to repay tarp by the end of the year or beginning of next year DEPENDING ON THE ECONOMY.
kind of a big qualifier =-O
Basel Too Wed Mar 18 07:21:49 2009 CDT #
Comrade Byzantine_Ruins says:
Cinco-X says:
Today, 8:07:50 AM
Denniger; Right on target again.
The kleptocracy will continue until the money runs out. Who's going to say no to looting when looters and their hirelings rule the state?
Comrade Byzantine_Ruins Wed Mar 18 07:24:04 2009 CDT #
Cinco-X says:
Cynical, but true-
Parent Post
Cinco-X Wed Mar 18 08:25:53 2009 CDT #
Mortgage T & A says:
Have you guys seen this Anti-CNBC petition and website. I just found the link on DB's site.
http://dailybail.com/home/cnbc-viewers-are-mad-as-hell-read-and-sign-the-protest-petit.html
It originated with Media Matters.
This is a positive development.
Mortgage T & A Wed Mar 18 07:25:28 2009 CDT #
Rob Dawg says:
Sounds like Steve L on CNBC has been reading Calculated Risk. He's worried that the process of working off inventories will permanently impair capacity.
Yup.
Rob Dawg Wed Mar 18 07:34:24 2009 CDT #
energyecon says:
Headline on Bloomberg: US Current Account Gap Narrowed in 4th Quarter
No story there yet, but doesn't that reduce the supply of dollars out there to recycle into T's?
energyecon Wed Mar 18 07:35:45 2009 CDT #
Comrade Byzantine_Ruins says:
Is it the process of working off the inventories of the necessity to rationalize the balance sheet that's ultimately going to impair capacity?
Comrade Byzantine_Ruins Wed Mar 18 07:39:35 2009 CDT #
ATM card and $19 in the bank says:
Lead story in today's print WSJ:
**Major all-risk re-insurer using taxpayer bailout money to repay regional fire insurance companies;
**the fire insurance companies are using the bailout money to pay claims made by ARSONISTS.
Oh wait, I read it wrong. It's just the AIG bailout being funneled through investment banks to repay hedge funds that bet against American homeowners.
Sorry for the confusion.
ATM card and $19 in the bank Wed Mar 18 07:47:11 2009 CDT #
energyecon says:
Brad Setser's latest:
A bit more to worry about; foreign demand for long-term Treasuries has faded
Posted on Wednesday, March 18th, 2009
http://blogs.cfr.org/setser/2009/03/18/a-bit-more-to-worry-about-foreign-demand-for-long-term-treasuries-has-faded/
energyecon Wed Mar 18 07:47:37 2009 CDT #
Rob Dawg says:
Comrade Byzantine_Ruins says:Today, 5:39:35 AM PDT
Is it the process of working off the inventories of the necessity to rationalize the balance sheet that's ultimately going to impair capacity?
Unfortunately, JIT refers to more than just process scheduling. We've seen manufacturing shedding jobs in an attempt to get out ahead of shrinking demand. We also have the new tightness of credit that makes it too expensive to hold onto capacity. Those skilled employees and turnkey capacities are far too easy to dissapate and darned near impossible to recreate.
Rob Dawg Wed Mar 18 07:50:25 2009 CDT #
That Barton Fink Feeling says:
Lawn Grass:
"Another drop of 20 % in housing prices will seem to crush net worths along with the unemployment and partial employment. The job environment will get much tougher. We have to find prodcutive work for people to do now that they cannot flip homes, swap swaps, and sell mortgages. I am wondering what that could be?"
That's the million dollar question, to which war is the trillion dollar answer.
That Barton Fink Feeling Wed Mar 18 07:52:30 2009 CDT #
That Barton Fink Feeling says:
Hoax you can believe in:
Obama, Congress knew months in advance about AIG bonuses
http://www.cbsnews.com/stories/2009/03/18/politics/main4873238.shtml
That Barton Fink Feeling Wed Mar 18 07:55:21 2009 CDT #
energyecon says:
Hmmmm....
Mexico Puts Tariffs on U.S. Goods Over Truck Dispute (Update1)
By Thomas Black and Crayton Harrison
March 18 (Bloomberg) -- Mexico will apply tariffs of 10 percent to 45 percent on at least 90 products from the U.S. in retaliation for the U.S. scrapping a test program allowing Mexican trucks to deliver goods beyond a U.S. border zone.
The products include some fruit and vegetables, wine, juices and sunglasses, according to the online version of the State Gazette. Most tariffs are 10 percent to 20 percent, with unspecified fresh products subject to a 45 percent tariff. The tariffs, which will apply to $2.4 billion of goods, take effect tomorrow, Economy Minister Gerardo Ruiz Mateos said yesterday.
http://www.bloomberg.com/apps/news?pid=20601086&sid=aNMnPuyYFV5I&refer=latinamerica
China Blocks Coca-Cola’s $2.3 Billion Huiyuan Bid (Update2)
By Stephanie Wong and Wing-gar Cheng
March 18 (Bloomberg) -- China rejected Coca-Cola Co.’s $2.3 billion bid for China Huiyuan Juice Group Ltd., saying the biggest foreign takeover of a Chinese company would have been “negative for competition” in the country’s drinks market.
http://www.bloomberg.com/apps/news?pid=20601110&refer=&sid=avk88z.Ww108
energyecon Wed Mar 18 07:58:10 2009 CDT #
CRbot says:
New Thread: CPI Increases 0.4% mostly due to gasoline
http://www.calculatedriskblog.com/2009/03/cpi-increases-04-mostly-due-to-gasoline.html ( 0 comments ...You could be FIRST! )
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CRbot Wed Mar 18 07:59:43 2009 CDT #
REBear says:
Fund managers are their most optimistic about the outlook for the global economy since late 2005, thanks to renewed hopes for growth in China, though risk appetite has deteriorated, according to Merrill Lynch's monthly survey.
http://www.marketwatch.com/news/story/Managers-view-economy-improves-risk/story.aspx?guid=%7BDCDAB7F9%2DE313%2D4B25%2D8D02%2D24F3D6956BAB%7D
>>
Swindlers!
REBear Wed Mar 18 08:01:10 2009 CDT #
Rob Dawg says:
nergyecon says:Today, 5:58:10 AM PDT
Hmmmm....
Mexico Puts Tariffs on U.S. Goods Over Truck Dispute
Mexico has internal issues and needs to redirect that anger outward. Nothing like a fluffed up "trade war" to distract the proles.
The cross border trucking experiment was halted because some of the Mexican trucks truly are unsafe. The US may have a history of exporting unsafe practices but isn't quite ready to get as good as it gives.
Rob Dawg Wed Mar 18 08:04:19 2009 CDT #
Paradigm Lost says:
Many of tonight's commentariat are so focused on how many financial angels dance on the head of a pin that they often miss the big picture (well, not all of you). Gee, where's your sense of humor?
Who would've mounted an ad campaign like Jet Blue's 2 years ago?
Perhaps our reverence for riches & obsession with the monied class is at last waning. I for one will not be sorry to see it go.
And what do these ads say about American culture? Will marketing, media, art, etc. turbo-charge the societal reversal or are they just riding the big wave of sentiment?
A new era dawning?
Paradigm Lost Wed Mar 18 10:12:03 2009 CDT #
arun says:
mlm -
you're welcome about the link to credit trader. i found the dialogue in the comments so much more refreshing, and the perfect sandbox for an analytical laddie like me...
arun Wed Mar 18 11:02:40 2009 CDT #
END