By Dan Eggen Washington Post Staff Writer Saturday, December 6, 2008; Page A01
George W. Bush is not generally prone to introspection. “I really do not feel comfortable in the role of analyzing myself,” he once said.
drums: padap, ping
That one sentence, speaks volumes.
Skippy
Anonymous
Now Paulson will want the other $350 billion TARP money.
Congress must flatly refuse and wait for Obama. Here are two good reasons: 1. Paulson hasn’t been such a hero, let’s leave some for Geithner to spend. 2. If the money goes to banks now, it’s likely to end up in increased bonuses. It’s important not to commit any more money before the first of the year.
S
Surprice surprise: Citi now assesing need to raise common equity capital…The Fed has desperately tried to rally the bank stocks so they would go out and raise capital. It is shocking that the auto makers, which deserve no sympathy, are put through the ringer and the bankers bega nd plead and pout about the very prospect that shareholders should take dilution (common that is). The whole ludicrious notion from the getgo that pref. equity was the solution to encourage the public to saddle up and buy the banks was merely cover for the pillage. It is truly shocking that the bank set has conitnued to play this card to avoid common dilution and even more shocking that people like Geithner have played along. Outrageous.
Anonymous
Thanks for the links ndk!
Anonymous
Good Grief:
WIKILEAKS PRESS RELEASE Fri Dec 5 18:33:02 GMT 2008
“Bank Julius Baer CEO commits suicide”
Alex Widmer, the Chief Executive Officer of Bank Julius Baer has died unexpectedly at age 52.
The Swiss headquarted bank is the largest “private banking” group with over USD 300 billion in assets hidden or invested on behalf of extremely wealthy individuals and some institutions.
According to multiple independent press reports (Reuters, 20minutes), the cause of death was suicide. The reasons are not yet publicly known.
In February, the bank attempted, unsuccessfully, to sue Wikileaks in the United States over whistleblower revelations pertaining to the bank’s Cayman Islands operations.
Dozens of revelations followed, from the exposure of Baer’s internal tax avoidance plan to the Cayman Islands trust for the Caryle group revealed on Dec 1.
According to Reuters the bank has lost some 60% of its share price during 2008, although this puts it ahead of many in the current financial crisis.
For all you Obama skeptics out there I think this will answer your concerns- from today’s radio address:
“Today, I am announcing a few key parts of my plan. First, we will launch a massive effort to make public buildings more energy-efficient. Our government now pays the highest energy bill in the world. We need to change that. We need to upgrade our federal buildings by replacing old heating systems and installing efficient light bulbs.”
Ya know, Yves bragged. No, she didn’t brag, she gloated over how productive/superior/efficient a multi-tasker she was when working in investment(banking?). And in one broad swath she dismissed the life and death contributions of the medical profession and every other high stress occupation known to man.
Yet here I sit, with no forthcoming economic analysis. I touch the screen of my PC and it is cold. She’s leaving us shivering in the wind, like some virtual tiny Tim!
All I have to look at is a recycled wolf photo and stuffed panda!
I guess she’s slowing down….
Yves Smith
Anon of 11:49 PM,
There is a big difference between working on a job and a voluntary side activity. If you want t pay me my consulting rate to keep blogging while on the road, I would most certainly entertain that idea. But you are basically unhappy that you have had a free service interrupted. Too bad,
I was also with the client from 8 AM to midnight. And even if I had had some free time, seeing the Van Gogh exhibition at the Albertina was higher on the list than blogging.
“The wolf changes his coat, but not his disposition.” Proverbs
Pack-hunting Commundard: “Bankers, foundering in the icy wastes? YESSSS! God is good.”
TamarGeller.com
According to Ms. Geller, she learned the proper way to train dogs by studying wolves (that learned with play, not with pedantry)
Jim Grant is bullish on Treasuries. (psych!)
Workers Give Up, as the employed percentage of all men 16 and over reaches the lowest on record.
Harvard teaches us how to hedge, following their earlier lesson on private equity investing.
Mankiw tracks deflation expectations using an old TIPS issue.
By Dan Eggen
Washington Post Staff Writer
Saturday, December 6, 2008; Page A01
George W. Bush is not generally prone to introspection. “I really do not feel comfortable in the role of analyzing myself,” he once said.
drums: padap, ping
That one sentence, speaks volumes.
Skippy
Now Paulson will want the other $350 billion TARP money.
Congress must flatly refuse and wait for Obama. Here are two good reasons:
1. Paulson hasn’t been such a hero, let’s leave some for Geithner to spend.
2. If the money goes to banks now, it’s likely to end up in increased bonuses. It’s important not to commit any more money before the first of the year.
Surprice surprise: Citi now assesing need to raise common equity capital…The Fed has desperately tried to rally the bank stocks so they would go out and raise capital. It is shocking that the auto makers, which deserve no sympathy, are put through the ringer and the bankers bega nd plead and pout about the very prospect that shareholders should take dilution (common that is). The whole ludicrious notion from the getgo that pref. equity was the solution to encourage the public to saddle up and buy the banks was merely cover for the pillage. It is truly shocking that the bank set has conitnued to play this card to avoid common dilution and even more shocking that people like Geithner have played along. Outrageous.
Thanks for the links ndk!
Good Grief:
WIKILEAKS PRESS RELEASE
Fri Dec 5 18:33:02 GMT 2008
“Bank Julius Baer CEO commits suicide”
Alex Widmer, the Chief Executive Officer of Bank Julius Baer has died
unexpectedly at age 52.
The Swiss headquarted bank is the largest “private banking” group
with over USD 300 billion in assets hidden or invested on behalf of
extremely wealthy individuals and some institutions.
According to multiple independent press reports (Reuters, 20minutes),
the cause of death was suicide. The reasons are not yet
publicly known.
In February, the bank attempted, unsuccessfully, to sue Wikileaks
in the United States over whistleblower revelations pertaining to
the bank’s Cayman Islands operations.
Dozens of revelations followed, from the exposure of Baer’s
internal tax avoidance plan to the Cayman Islands trust for the
Caryle group revealed on Dec 1.
According to Reuters the bank has lost some 60% of its share price
during 2008, although this puts it ahead of many in the current
financial crisis.
See http://wikileaks.org/wiki/Category:Bank_Julius_Baer
For all you Obama skeptics out there I think this will answer your concerns- from today’s radio address:
“Today, I am announcing a few key parts of my plan. First, we will launch a massive effort to make public buildings more energy-efficient. Our government now pays the highest energy bill in the world. We need to change that. We need to upgrade our federal buildings by replacing old heating systems and installing efficient light bulbs.”
Dec 6 Obama’s Radio Address on the Economy
No pun intended, but I am beginning to feel really naked looking at the antidote du jour. C’est très froid !
Harvard Endowment falls 22% in four months:
http://www.marketwarnings.com/2008/12/harvard-university-endowment-loses-22.html
I made 37% in one week following this:
http://www.marketwarnings.com/2008/11/dow-spx-stock-market-bottom-november-21.html
Ya know, Yves bragged. No, she didn’t brag, she gloated over how productive/superior/efficient a multi-tasker she was when working in investment(banking?). And in one broad swath she dismissed the life and death contributions of the medical profession and every other high stress occupation known to man.
Yet here I sit, with no forthcoming economic analysis. I touch the screen of my PC and it is cold. She’s leaving us shivering in the wind, like some virtual tiny Tim!
All I have to look at is a recycled wolf photo and stuffed panda!
I guess she’s slowing down….
Anon of 11:49 PM,
There is a big difference between working on a job and a voluntary side activity. If you want t pay me my consulting rate to keep blogging while on the road, I would most certainly entertain that idea. But you are basically unhappy that you have had a free service interrupted. Too bad,
I was also with the client from 8 AM to midnight. And even if I had had some free time, seeing the Van Gogh exhibition at the Albertina was higher on the list than blogging.
O.K Yves, I forgive you!
Anon 11:49 pm