Showing posts with label Stock market. Show all posts
Showing posts with label Stock market. Show all posts

Tuesday, December 29, 2009

God I'm tired of this shit!

We began the year with the Clintonian and Reaganesta economic toy soldiers who, in the past had spoken of different field instructions, more cautious in fact, about the economy, but once anointed by the new commander-in-chief went forward and continued the economic policies of Little Boy Bush by instructing the Federal Reserve’s Field General, Bennie-The Beard-Bernanke, to load up the wheelbarrows of cash and dump them into the laps of the very “infestment” banksters that brought down the economy in the first place. No interest necessary Citi, or “Golden Sacks”.

The marching orders read that the “infestment” banksters were to go forward and increase their capital reserves, since they never really had enough to cover the 30-year long betting cycle of risky loans, and credit default swaps, which made them all very, very rich upper class-men. So, to follow through they went ahead and gambled taxpayer dollars at the Wall Street casino tables, as well as moved forward advancing bets in foreign currencies, commodities, and in other stock markets. In other words, much of the cash they borrowed for free went overseas, just as the jobs they took away from us by outsourcing our own manufacturing livelihoods.

Bennie the Beard was crowned Man of the Year by Time magazine, even though he wrongly spoke about the security of our economy. Bada Bing Bernanke once said that the banks were not involved with sub-prime lending. In 2007, this economic crime syndicate field marshal general said, “ Importantly, we see no serious broad spill over to banks or thrift institutions from the problems in the sub-prime market…The troubled lenders, for the most part, have not been institutions with federally insured deposits.” Wow!! Was this guy trying to do some stand-up?

It is hard to believe that since Bernanke, a PhD and expert in the Great Depression, was so successful selling so much propaganda about the economy, that he was able to be crowned Man of the Year. No doubt, he actually sold policymakers on taking a revised version of Alan Greenspan’s prior bag of crap and made it stick to the wall, such as believing that financial innovations were good for the economy and made banking safer!!! He threw up against the Wall of Crap a belief that our economy had entered a time in history that ushered in smaller and less frequent downturns, which he coined “the great moderation.”

These sweet-as-pie assessments of our grand ‘ole economy were made back in 2007 just before he went squawkin’ to Congress warning about a falling sky Chicken Little style; yet, Bennie The Beard was reading a brand of his homegrown tea leaves as the sky came raining down with Humpty Dumpty type banks, mortgage foreclosures, and failed financial innovations burning down the house so much that he needed a backhoe to get himself out from under the charred rubble. And, that backhoe was driven by Congress, which was blackmailed into accepting the Paulson-Bernanke-BushBoy economic extortion plan.

As we all know, five of ten of the nation’s largest “infestment” banking institutions were underwater with sub-prime loans that had to be bailed out by their field marshal general stationed at the Federal Reserve headquarters. These banksters were so worried that they demanded from Congress the creation of a $700 billion bankster rescue program called TARP.

The reality is that Bennie The Beard actually failed to protect America’s depositors, homeowners, and investors to the tune of $12 trillion!!! Now, if that legacy deserves Man of the Year, then what would it take to deserve the dishonor of the Worst Man of the Year?

As the year progressed, the promise to end the war in Iraq became just an exaggeration.
Death Of The Middle Class?
Today, we are still in Iraq, and have escalated the troop deployment in Afghanistan. The war profiteers continue their gleeful praises of our President. The stockholders of GE, General Dynamics, Halliburton, KBR, and the rest are so happy to see their end-of-the-year dividend/ 1099s all coming in profitably. In addition, Blackwater, ie. Xe, and now remade into The U.S. Training Center. Even though Eric Prince, its commander-in-chief, should be put on trial as a war criminal. Our government continues to use Prince’s private, mercenary military force overseas, too.
WASHINGTON - JUNE 09:  Elizabeth Warren, Chair...

As we move threw the year, the bankstes were paying out huge bonuses funded by the taxpayers through various Fed and Treasury programs. There were no significant regulatory changes, nor the elimination of too-big-to-fail. The mega-banks were even allowed to become bigger as they gobbled up closed down smaller banks.

None of the mega-banking CEOs or top executives has been jailed for fraud, either. The Justice department has not done any serious, large scale investigations clearly defining why this economic fraud occurred, who were the ones to blame, and why are they still smiling.

We saw a token “real” economy bailout of only a couple billion dollars because the remainder of the economic stimulus package bailout went into tax-cuts. The Republicans hijacked a Democratic Congress, once again. The unemployed-under employed-no longer looking for work, and the part time wanting full time unemployment picture has reached a near Depression era aggregate figure of almost 20%. 16 million unemployed.

Foreclosures grew to 1 in 6 homeowners. Those still paying mortgages, but are now underwater is around 1 in 4.

Wages continue to erode or stay stagnant. Those who are leery of losing their jobs have cut back on their spending.

34,750 lobbyists continue to infect our government with powers that are unprecedented.

Corporate bankruptcies are looming on the horizon. Bank credit card defaults and those 30-60-90 days delinquent have been on the upswing. Professor Elizabeth Warren, PhD, and chairperson of the Congressional Oversight Bailout Committee has warned our president that we could be on the brink of losing our middle class!!!

Thursday, October 22, 2009

NEW YORK - SEPTEMBER 23:  Lloyd Blankfein, Cha...Image by Getty Images via Daylife
ATTN: Employees of Goldman Sachs

We did it. Bottom of the ninth, down by three, bases loaded, and we cranked another grand slam to the moon. They may have shot Lennon, but nothing can kill the Beatles.

I admit things looked bleak for a minute there. We had to convert to a bank holding company and were forced to accept a taxpayer bailout. It felt un-American. Terribly unbanksmanly. But we accepted the money, knowing that we could magically weave it into a much larger mountain of money.

We had a few hard months there, didn’t we? They regulated our corporate jet so that we could no longer use it to fly from hole to hole on the green. Dave had to drain his money pool to half capacity. I stopped injecting gold into my blood. They don’t call it a recession for nothing. One day, we’ll look back on the year we received only five-figure bonuses and laugh.

Wanting to celebrate our renewed success is natural, but it’s important that we don’t go crazy here. Remember, ten per cent of the non-bank country is unemployed, and even those who are working have “real” jobs, where payment is proportional to the creation of a “product” or a “service.” Those poor bastards. So I ask that, in celebrating our raping of the stock market, we show restraint in the following ways:

    * Please limit high-fives and chest bumps to a dozen a day.
    * Don’t wear your crowns, except around the office.
    * Stop paying for things in Monopoly money—I understand it is the same as real money to us, but there have been some complaints.
    * For now, let’s take down the giant scoreboard that reads “Main Street: zero. Wall Street: a billion gazillion bajillion.”

Furthermore, to avoid drawing criticism from the press, this year the bonuses, expected to be comically large, will be distributed in blood diamonds, which can be easily concealed in a briefcase so it looks like we’re working.

I’d like to thank everyone who made this possible—for a second time. Respect to President Obama for keeping us in the green. Thanks to the big guy upstairs (me). And let’s not forget all the ordinary Americans, who, for some unfathomable reason, have refused to put us behind bars. We are literally taking money out of their wallets. Seriously, with these returns we are making Madoff look like a little kid with his hand caught in the cookie jar. Amateur!

Yours in money,

Lloyd Blankfein, C.E.O., Goldman Sachs
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Sunday, October 4, 2009



ATTN: Employees of Goldman Sachs

We did it. Bottom of the ninth, down by three, bases loaded, and we cranked another grand slam to the moon. They may have shot Lennon, but nothing can kill the Beatles.

I admit things looked bleak for a minute there. We had to convert to a bank holding company and were forced to accept a taxpayer bailout. It felt un-American. Terribly unbanksmanly. But we accepted the money, knowing that we could magically weave it into a much larger mountain of money.

We had a few hard months there, didn’t we? They regulated our corporate jet so that we could no longer use it to fly from hole to hole on the green. Dave had to drain his money pool to half capacity. I stopped injecting gold into my blood. They don’t call it a recession for nothing. One day, we’ll look back on the year we received only five-figure bonuses and laugh.

Wanting to celebrate our renewed success is natural, but it’s important that we don’t go crazy here. Remember, ten per cent of the non-bank country is unemployed, and even those who are working have “real” jobs, where payment is proportional to the creation of a “product” or a “service.” Those poor bastards. So I ask that, in celebrating our raping of the stock market, we show restraint in the following ways:

    * Please limit high-fives and chest bumps to a dozen a day.
    * Don’t wear your crowns, except around the office.
    * Stop paying for things in Monopoly money—I understand it is the same as real money to us, but there have been some complaints.
    * For now, let’s take down the giant scoreboard that reads “Main Street: zero. Wall Street: a billion gazillion bajillion.”

Furthermore, to avoid drawing criticism from the press, this year the bonuses, expected to be comically large, will be distributed in blood diamonds, which can be easily concealed in a briefcase so it looks like we’re working.

I’d like to thank everyone who made this possible—for a second time. Respect to President Obama for keeping us in the green. Thanks to the big guy upstairs (me). And let’s not forget all the ordinary Americans, who, for some unfathomable reason, have refused to put us behind bars. We are literally taking money out of their wallets. Seriously, with these returns we are making Madoff look like a little kid with his hand caught in the cookie jar. Amateur!

Yours in money,

Lloyd Blankfein, C.E.O., Goldman Sachs
Reblog this post [with Zemanta]