It's been awhile since I blathered here and in the meantime you might have noticed things are getting mighty weird on Wall Street.
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I'm talking about messy Wall Street credit crunch...
So supposedly it's a huge crisis, that affects us all ...but as I write no one is working on it today in DC because some 2% sliver of the US population is celebrating a" high" holiday...
go figger... Isn't it the middle of the week, a busy week, with shit to do?
Those "chosen" people running the show for $hizzle fo y'all, like Barney Frank and Beird-o Benjamin Bernanke just can't be bothered anymore this week I guess ...
Gots to talk to god, and get some kreplach for Christ $akes!
But those banking buddies sure wouldn't mind if you'd send them your money...
Neither would I...
I mean feel free to send me some extra money as well...
I won't threaten ya...like those Wall St Wizards...
Their pleas are like a blackmail / ransom note from the Street elite...
They demand America prop up their consumer con game, or they will cause an unspecified wave of additional terror to rip through our little out of the loop lives. Maybe steal your house with their house of cards...
Nice!
They act like ca$h junkies, and just one more fix will steer them $traight... then they'll go to rehab. Then it will all trickle down to you too! Yay!
But no matter how much money they shoot up, it will never be enough... and we know it.
First this year they swallowed up a $29 billion chunk of gov't backed credit for their pals at Bear Stearns.
But those banking buddies sure wouldn't mind if you'd send them your money...
Neither would I...
I mean feel free to send me some extra money as well...
I won't threaten ya...like those Wall St Wizards...
Their pleas are like a blackmail / ransom note from the Street elite...
They demand America prop up their consumer con game, or they will cause an unspecified wave of additional terror to rip through our little out of the loop lives. Maybe steal your house with their house of cards...
Nice!
They act like ca$h junkies, and just one more fix will steer them $traight... then they'll go to rehab. Then it will all trickle down to you too! Yay!
But no matter how much money they shoot up, it will never be enough... and we know it.
First this year they swallowed up a $29 billion chunk of gov't backed credit for their pals at Bear Stearns.
We also picked up the tab for AIG... lent the failed insurer about $85 billion a few weeks ago...
Also earlier in Sept they convinced their buddies at the Tresury to throw another $200 Million or so under the off kilter bus wheels of Freddie Mac & Fannie Mae... which had basically been allowed to die slowly.
Henry Paulson Jr could've paid that bill out of his pocket practically...but he and his blood thirsty pals waited until it drove a ton of other little banks underwith them.... Banks that had held Fannie & Freddie stocks, and had been allowed to keep them on the books as if they were cash.
The Gov't knew that many small community banks and investors were exposed to this "gov't backed" risk, yet allowed Fannie and Freddie to delve deeper & deeper into subprime lending.
Also earlier in Sept they convinced their buddies at the Tresury to throw another $200 Million or so under the off kilter bus wheels of Freddie Mac & Fannie Mae... which had basically been allowed to die slowly.
Henry Paulson Jr could've paid that bill out of his pocket practically...but he and his blood thirsty pals waited until it drove a ton of other little banks underwith them.... Banks that had held Fannie & Freddie stocks, and had been allowed to keep them on the books as if they were cash.
The Gov't knew that many small community banks and investors were exposed to this "gov't backed" risk, yet allowed Fannie and Freddie to delve deeper & deeper into subprime lending.
Bush had created a mandate for an "ownership society" even if the loans were obviously unsupportable. They all lookerd the other way until it was too late and it all toppled. Then when it wiped out the holdings of these smaller community lending institutions, then we stepped in. It was exactly like Prez Bush described it the other day "A House Of Cards".
Except they were playing these cards for all they worth...with our money.
Nice!
Buster Brown - Fannie Mae
Our regulators, who've been doing very little regulating prior to this point in the mess are now seizing banks, and handing them over for pennies on the dollar to their pals...
Big players like JP Morgan and B of A, along with Citigroup, are gorging during the bloody melee... eating wounded rivals like sharks let loose in a koi pond.
Citigroup, for ex. is flush with billions in United Arab Emirates sponsored cash it received last year when it was teetering, is spending approx $2 billion of that reserve to acquire a retail banking empire, holding some $400 Billion in consumer deposits held by Wachovia.
Not a bad deal for Citi, and one that was basically gifted to them by Gov't regulators and officials from the so-called Federal Reserve, which despite the name Federal in the title, by the way is not really a Gov't Agency... they just have mysterious unelected power over all the funny money stuff, go figger.
Nice!
Citigroup pressured regulators to seize Wachovia... chomping off only the parts they wanted.
Nice!
Buster Brown - Fannie Mae
Our regulators, who've been doing very little regulating prior to this point in the mess are now seizing banks, and handing them over for pennies on the dollar to their pals...
Big players like JP Morgan and B of A, along with Citigroup, are gorging during the bloody melee... eating wounded rivals like sharks let loose in a koi pond.
Citigroup, for ex. is flush with billions in United Arab Emirates sponsored cash it received last year when it was teetering, is spending approx $2 billion of that reserve to acquire a retail banking empire, holding some $400 Billion in consumer deposits held by Wachovia.
Not a bad deal for Citi, and one that was basically gifted to them by Gov't regulators and officials from the so-called Federal Reserve, which despite the name Federal in the title, by the way is not really a Gov't Agency... they just have mysterious unelected power over all the funny money stuff, go figger.
Nice!
Citigroup pressured regulators to seize Wachovia... chomping off only the parts they wanted.
Kinda like using the Gov't power of eminent domain so they can get a better biz deal.
Ironic considering a few years ago, the Federal Reserve had banned Citigroup from making any "significant acquisitions." The deal for Wachovia was arranged in part personally by one of Henry Paulson's top lieutenants Robert K. Steel, an insider vet of both Goldman Sachs & The Treasury.
It's a club people.... and you ain't invited.
Now, whether with undue Gov't Influence or not, this Big Banking Three of Bof A, Citi and JP Morgan will hold the real reigns of the banking industry...
Now, whether with undue Gov't Influence or not, this Big Banking Three of Bof A, Citi and JP Morgan will hold the real reigns of the banking industry...
It's an unrivaled amount of consolidated power in consumer lending & deposits in the history of American finance.
HELLO! Consumer beware!
Oddly enough the Bolshevik Revolution has hit Washington & Wall Street... and it comes in five thousand dollar suits, riding black Lincoln town cars and negotiating for the nationalization of assets they want...
But still we can't have national health care, or free college educations because that would be socialism and not serve the right masters.
The banks that teeter and beg for Gov't help now, rarely paid taxes on the profits from "irrational exuberance", they specialized in moving money around, keeping it liquid, sheltered and untaxed. These are the players that used the banking shell games risking $30 of other people's money for every $1 in assets they actually had in reserve. Now they want taxpayer backing for their mistakes.
Doesn't anyody remember the 80's when scumbags like John McCain and Neil Bush were in league with Charles Keating and running us into a $500 Million S&L bailout?
Like any of us care anymore?
The average American town as a whole isn't even worth what some Financial scene player's summer home in the Hamptons is worth...
You could add up the net worth of all the individuals in a small town in Ohio and everyone's annual salary combined wouldn't equal that of one of these wizards of wall street, and CEO bastards...
Treasury Sec Henry Paulson was reportedly worth about $700 Million Dollars when he stepped down from Goldmine Sachs to overlord our precarious economy from his perch at the Treasury Dept...
Like there's no conflict of interest all...
Gee I wonder how these decisions he makes for his pals on our supposed behalf daily affect his personal net worth... no conflicts there.
Now like a feudal lord, he merely wants to be above the law, above the Constituition, and to never even have to report to anyone... ever.
His plan demands unequivical control and states that all his actions be:
"non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."
Looks to me arrogant guys like him that drove this car here should be able to find their way out of the parking lot without a rescue party.
HELLO! Consumer beware!
Oddly enough the Bolshevik Revolution has hit Washington & Wall Street... and it comes in five thousand dollar suits, riding black Lincoln town cars and negotiating for the nationalization of assets they want...
But still we can't have national health care, or free college educations because that would be socialism and not serve the right masters.
The banks that teeter and beg for Gov't help now, rarely paid taxes on the profits from "irrational exuberance", they specialized in moving money around, keeping it liquid, sheltered and untaxed. These are the players that used the banking shell games risking $30 of other people's money for every $1 in assets they actually had in reserve. Now they want taxpayer backing for their mistakes.
Doesn't anyody remember the 80's when scumbags like John McCain and Neil Bush were in league with Charles Keating and running us into a $500 Million S&L bailout?
Like any of us care anymore?
The average American town as a whole isn't even worth what some Financial scene player's summer home in the Hamptons is worth...
You could add up the net worth of all the individuals in a small town in Ohio and everyone's annual salary combined wouldn't equal that of one of these wizards of wall street, and CEO bastards...
Treasury Sec Henry Paulson was reportedly worth about $700 Million Dollars when he stepped down from Goldmine Sachs to overlord our precarious economy from his perch at the Treasury Dept...
Like there's no conflict of interest all...
Gee I wonder how these decisions he makes for his pals on our supposed behalf daily affect his personal net worth... no conflicts there.
Now like a feudal lord, he merely wants to be above the law, above the Constituition, and to never even have to report to anyone... ever.
His plan demands unequivical control and states that all his actions be:
"non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."
Looks to me arrogant guys like him that drove this car here should be able to find their way out of the parking lot without a rescue party.
In fact these fat cats could probably fund a lot of this bailout out of their own f*cking pockets. If these patriotic profiteers really wanted to be seen as true captains of the financial chicanery industry and just pooled their resources... we know they could manage it without our help.
Maybe they should have a telethon, and see who sends them the dough...
Maybe they should have a telethon, and see who sends them the dough...
The Saudis? Europeans? Japanese? Chinese? Who's left to sell America too?
Oh that's right, we are the only ones dumb enough to buy America these days.
Now it's Joe Sixpack who is supposed to worry.
First they downsize & outsource his jobs to Asia & elsewhere in the name of profits, now they want the rest of the money left in the country to prop up their sick sycophantic system...all it's wars and wanton ways.
The whole thing is like the Windows 98 computer I write this blog on.... REBOOT!!!!!
America has spoken... the little people say fuck em!
REBOOT THE WHOLE SYSTEM!
No executive should make more than 100x what the lowest paid worker at his company makes in my opinion.
You'd see the minimum wage go up in this country if that was the policy for sure!
Let thems that took the risks, eat the risks. The rest of us are already on the bottom, we've got very little room to go down as it is.
If you work an hourly wage job, it's kind of hard to give a shit about some credit debt swap "trader's" asnine problems created on unbelievable amounts of funny money...
In fact, we kinda like the idea of these slicksters sweating a little.
The rest of us are just trying to pay for dollar value meals and the transporatation costs of getting to work, just to make the $10 or $15 an hour or whatever pittance is left after they strip the taxes out that they are raping us with these days...
The Demo-publicans & Republi-crats in charge don't give a flying f*ck about the people that pay for the junkets, pork & wars & whatnot. It's all esoteric to them, just a popularity contest qhile they diddle away the mountains of taxes taken out of the paychecks in this country...
Now it's Joe Sixpack who is supposed to worry.
First they downsize & outsource his jobs to Asia & elsewhere in the name of profits, now they want the rest of the money left in the country to prop up their sick sycophantic system...all it's wars and wanton ways.
The whole thing is like the Windows 98 computer I write this blog on.... REBOOT!!!!!
America has spoken... the little people say fuck em!
REBOOT THE WHOLE SYSTEM!
No executive should make more than 100x what the lowest paid worker at his company makes in my opinion.
You'd see the minimum wage go up in this country if that was the policy for sure!
Let thems that took the risks, eat the risks. The rest of us are already on the bottom, we've got very little room to go down as it is.
If you work an hourly wage job, it's kind of hard to give a shit about some credit debt swap "trader's" asnine problems created on unbelievable amounts of funny money...
In fact, we kinda like the idea of these slicksters sweating a little.
The rest of us are just trying to pay for dollar value meals and the transporatation costs of getting to work, just to make the $10 or $15 an hour or whatever pittance is left after they strip the taxes out that they are raping us with these days...
The Demo-publicans & Republi-crats in charge don't give a flying f*ck about the people that pay for the junkets, pork & wars & whatnot. It's all esoteric to them, just a popularity contest qhile they diddle away the mountains of taxes taken out of the paychecks in this country...
Corporate America always finds the loophole, the little get lives in the hole already.
We all have our own credit crunches lately too of course....
So I am also making it clear that as of today, I am also seeking any economic bailout package y'all wanna throw my way...
This one is strictly voluntary...
I'll settle for less than $700 Billion... and unlike ex-Goldmine Sachs employee and current Trestury Secretary Paulson's bailout request, I'm even willing to let the donors decide what I'm to do with some of the money...
This is serious, I'll pull the plug on this blog if y'all don't cough up...
So here's my paypal address link:
As a bonus, any economic stimulus paymanets larger than $20 while receive a rare DVD from my collection
You can choose between
A] the 1981 Concert Film URGH! A Music War
B] Some really rare Sly Stone videos including mostly unseeen footage from his personal media appearance archives
C] The Pogues live in London with Joe Strummer, Kirsty MacColl and the Specials horn section St Paddy's Day 1988
or a random surprise...
We all have our own credit crunches lately too of course....
So I am also making it clear that as of today, I am also seeking any economic bailout package y'all wanna throw my way...
This one is strictly voluntary...
I'll settle for less than $700 Billion... and unlike ex-Goldmine Sachs employee and current Trestury Secretary Paulson's bailout request, I'm even willing to let the donors decide what I'm to do with some of the money...
This is serious, I'll pull the plug on this blog if y'all don't cough up...
So here's my paypal address link:
As a bonus, any economic stimulus paymanets larger than $20 while receive a rare DVD from my collection
You can choose between
A] the 1981 Concert Film URGH! A Music War
B] Some really rare Sly Stone videos including mostly unseeen footage from his personal media appearance archives
C] The Pogues live in London with Joe Strummer, Kirsty MacColl and the Specials horn section St Paddy's Day 1988
or a random surprise...
I'll send it Prioriiy Mail to ya...
any Q?'s
hit me back at lilmike @ eventmagic .com
People : Feel free` to send me your economic stimulus packages, and I'll do my damndest to keep this blog churning out info & tons of tuneage regularly
Tanya of Free Speech Radio Network - Fannie Mae & Freddie Mac Bailout Blues
It's been a minute since I was blathering here... and I suppose I'll get back into the swing of it soon...
Here's a few trax for my faithful, or whomever the hundreds of funkers and freaks that still troll silently by here every week...
First I want to note that it's Rock-tober!
Happy Birthday to Albert Collins
On Oct 1st 1932, at the height of the depression, a baby boy named Albert Collins entered the world in Leona Texas. He kept on rocking until Thanksgiving Day 1993...
Here's a couple classics from this capo loving guitar legend, a player so cool that he was known as the Iceman...
The first track is a live one taken from a 1969 set at the legendary Fillmore Auditorium here in San Francisco.
Albert Collins - Thaw Out
Albert Collins - Frosty
any Q?'s
hit me back at lilmike @ eventmagic .com
People : Feel free` to send me your economic stimulus packages, and I'll do my damndest to keep this blog churning out info & tons of tuneage regularly
Tanya of Free Speech Radio Network - Fannie Mae & Freddie Mac Bailout Blues
It's been a minute since I was blathering here... and I suppose I'll get back into the swing of it soon...
Here's a few trax for my faithful, or whomever the hundreds of funkers and freaks that still troll silently by here every week...
First I want to note that it's Rock-tober!
Happy Birthday to Albert Collins
On Oct 1st 1932, at the height of the depression, a baby boy named Albert Collins entered the world in Leona Texas. He kept on rocking until Thanksgiving Day 1993...
Here's a couple classics from this capo loving guitar legend, a player so cool that he was known as the Iceman...
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Albert Collins - Thaw Out
Albert Collins - Frosty
Keep Cool During troubled times y'all
p.s
don't forget to bail my blog out ...
I don't need $700 Billion... but will take what ya got!
p.s
don't forget to bail my blog out ...
I don't need $700 Billion... but will take what ya got!
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