Ya ever wonder how come it was really smart, patriotic people like Warren Buffet did not have the ability to foresee or head it off.
Or Bobby Rubin supposed to be the wise man of Citibank did not know what is a Liquidity Put. It's OK that I dont know, or not OK, but I was not in charge of Citibank, but now he says, he didnt know.
How come all the smart bankers of Wall Street did not head it off.
Or chicks like that high born Brooksley Born, who has a good family tree and connections to finance and law in America, if she was so sure about derivatives way back when, how come she was not effective in heading off or ameliorating the crisis.
How come nobody said how come ya charging all these humongous interest rates to modest income people.
I remember that looney Larry Kudlow, who they say used to take drugs, bleating over and over, when are they gonna Liquidate the Paper.
I dont think Larry Kudlow created the problem, but he unwittingly let out the real reasoning behind the cozy complicity and genial acceptance of news media, particularly people who present themselves as financial hotshots, on the genesis of this fiasco.
They all knew there would be a melt down, what they thought is that the big honchos would Liquidate the Paper, the poor and modest income people would lose their homes and the big honchos would have oodles of lovely real estate and liquidated cash to play with all over again.
didnt quite work out that way, did it.
This time, when Main Street got acidity, Wall Street got an ulcer.
That's how it looks.
Bye bye
Sunday, June 1, 2008
To make a segue into economic perfidies, I chanced to find Ohio against Lakshmi Mittal, the great steel tycoon
and I forget what I was googling for, but I found Spy in Telegraph UK including items about his famous homes that he is buying on Millionaires Row in London, along with a bunch of Russian Jewish millionaires.
But I guess I googled the images and found a picture of his boat, or one he was planning to buy which turned out to be Larry Ellison's grandiose yacht and then came across this blog of Ohio Citizen.
They detailed their problems with Lakshmi Mittal and the asthma his steel plant furnaces have been causing and the problems not just in Ohio, but complaints from locals in Orissa, Kazakhstan and South Africa.
The note about Larry Ellison yacht is here. In the current document, he has bought some yacht called the Amevi with its own helipad and stuff like that.
And I think it is important to stay on this topic and for people to pursue it, becoz pollution and irresponsible practices in factories all over the world cause ill health and merely knowing what medicines and procedures to do for asthma is not sufficient if we are not aware of and tackling the fundamental causes.
I also noticed that Ohio Citizen was concerned about Coal mining and denudations of mountain tops.
However, unlike personalizing it against one individual, like they have done against the tycoon Lakshmi Mittal, I did not readily encounter the individuals or faces of the people responsible for denudation of the mountains.
These are also very serious issues.
I think it is important to personalize and identify individuals, particularly as mainstream media is only to happy to be a cheerleader and willing admirer of successful individuals, who present a genial and amiable face to their communities, but all the while their practices are undermining and damaging the health and well being of people.
If white citizens of Ohio will not take up the challenge, then surely their are enough foreign origin citizens who will find out the polluters identities and start blogging about them on a regular basis.
That's the only way we will start getting better practices from people who should do better, rather than simply gazing at them adoringly and admiring their great success or gushing about their grand parties or homes.
Bye bye.
PS: It would also be good as we go into election term, we find out exactly where Barack and McCain stand on the issues and how they plan to clean up the sadly denigrated environment.
Leaders in Bengal have already had a comeuppance on their failure to deal with public outrage over land grab and misappropriation in Singur.
But I guess I googled the images and found a picture of his boat, or one he was planning to buy which turned out to be Larry Ellison's grandiose yacht and then came across this blog of Ohio Citizen.
They detailed their problems with Lakshmi Mittal and the asthma his steel plant furnaces have been causing and the problems not just in Ohio, but complaints from locals in Orissa, Kazakhstan and South Africa.
The note about Larry Ellison yacht is here. In the current document, he has bought some yacht called the Amevi with its own helipad and stuff like that.
And I think it is important to stay on this topic and for people to pursue it, becoz pollution and irresponsible practices in factories all over the world cause ill health and merely knowing what medicines and procedures to do for asthma is not sufficient if we are not aware of and tackling the fundamental causes.
I also noticed that Ohio Citizen was concerned about Coal mining and denudations of mountain tops.
However, unlike personalizing it against one individual, like they have done against the tycoon Lakshmi Mittal, I did not readily encounter the individuals or faces of the people responsible for denudation of the mountains.
These are also very serious issues.
I think it is important to personalize and identify individuals, particularly as mainstream media is only to happy to be a cheerleader and willing admirer of successful individuals, who present a genial and amiable face to their communities, but all the while their practices are undermining and damaging the health and well being of people.
If white citizens of Ohio will not take up the challenge, then surely their are enough foreign origin citizens who will find out the polluters identities and start blogging about them on a regular basis.
That's the only way we will start getting better practices from people who should do better, rather than simply gazing at them adoringly and admiring their great success or gushing about their grand parties or homes.
Bye bye.
PS: It would also be good as we go into election term, we find out exactly where Barack and McCain stand on the issues and how they plan to clean up the sadly denigrated environment.
Leaders in Bengal have already had a comeuppance on their failure to deal with public outrage over land grab and misappropriation in Singur.
But Mo Dowd also makes a stunning error in cosying up to Colin Powell, for some unfathomable reason
Colin Powell was a huge part of the perfidy and deliberate deceit on the war.
I dont know how she says the casus belli being trumped up irritated him, he was part and parcel of the bogus selling of the war.
He sat around glinty eyed and bs ed to Jim Lehrer, who is the most gelatinous and supine of news personalities, if personality can even be the term applicable, and told him the ballon weather trailers were weapons labs.
What else could they be.
Even after the fact, he did not show that he in any way regretted his looney presentation before the UN, representing the integrity of United States, or shall we say, ruining and misrepresenting what should have been the integrity of his country.
Not just that, but he and John McCain and a bunch of Repub Senators stood and posed around on the Hill the morning of the Senate vote insisting that it was to present a unified face to the UN and help create the momentum for Iraq to voluntarily comply.
That was not all.
His greatest perfidy was to take the fruits of the bugging of the UN meetings and then go the members and say, we dont want you to reach a consensus.
So that then, they could go to the people and say, the UN has failed us, we are gonna go to war and then go on to the looney Azores summit and bust in.
I dont know how she says the casus belli being trumped up irritated him, he was part and parcel of the bogus selling of the war.
He sat around glinty eyed and bs ed to Jim Lehrer, who is the most gelatinous and supine of news personalities, if personality can even be the term applicable, and told him the ballon weather trailers were weapons labs.
What else could they be.
Even after the fact, he did not show that he in any way regretted his looney presentation before the UN, representing the integrity of United States, or shall we say, ruining and misrepresenting what should have been the integrity of his country.
Not just that, but he and John McCain and a bunch of Repub Senators stood and posed around on the Hill the morning of the Senate vote insisting that it was to present a unified face to the UN and help create the momentum for Iraq to voluntarily comply.
That was not all.
His greatest perfidy was to take the fruits of the bugging of the UN meetings and then go the members and say, we dont want you to reach a consensus.
So that then, they could go to the people and say, the UN has failed us, we are gonna go to war and then go on to the looney Azores summit and bust in.
Today, one columnist you have to check is Mo Dowd on Scott McClellan
who has written about the lies and perfidies of the Bush administration and Bush personally.
She makes a few well apropos points:
One about junior’s bumpy and improbable boomerang journey from family black sheep and famous screw-up back to family black sheep and famous screw-up.
This is so spot on, becoz all the time in the 2000 campaign, those of us who researched his past and came up with his list of failures and shortcomings, including his financial blundering, his mistakes on the Texas budget, had emphasized just that.
His supporters said no he is a successful business man and ball team owner, and a graduate of posh universities and all of you are just kvitchy and jealous.
Indian Americans also adored him, especially Indians in Texas and in the South. So their own fiscal conservativeness and shrewdness, and they are largely a hugely hard working and successful group, demographically, did not give them any better insight into his huge failings and proclivities.
also the bankruptcies and shady dealings of his brothers.
The boomerang is particularly ironic, becoz soon after the height of the 9.11 tragedy, soon after the memorable church function, when he turned himself into a messianic persona, his Mommy said proudly, now he belongs to the world.
And just recently, his parents and he were photographed and they were almost regretful and bashful of his current ignominy, but the roots of his failings were apparent a long time ago.
Not just that, but his parents and his family even thought for Jebbie to be a logical successor as late as last year and if you ask me, they still harbor hopes of a family resurgence.
The second astute observation Mo Dowd makes is regarding how Bush came to be that way:
It seems that if you trust your gut without ever feeding your gut any facts or news or contrary opinions, if you keep your gut on a steady diet of grandiosity, ignorance, sycophants, and peanut butter and jelly sandwiches, those snap decisions can be ruinous.
Bush was wilfully ignorant and went from town to town trumpeting his message in 2002, and his supporters, particularly in the Red States believed his baloney all the way through, whether it was on taxes, or the war.
And it is only now, when it has all come a cropper, that they have some regrets, not becoz they feel he was wrong, but becoz it all came out wrong and they dont see any easy way to wiggle out.
She makes a few well apropos points:
One about junior’s bumpy and improbable boomerang journey from family black sheep and famous screw-up back to family black sheep and famous screw-up.
This is so spot on, becoz all the time in the 2000 campaign, those of us who researched his past and came up with his list of failures and shortcomings, including his financial blundering, his mistakes on the Texas budget, had emphasized just that.
His supporters said no he is a successful business man and ball team owner, and a graduate of posh universities and all of you are just kvitchy and jealous.
Indian Americans also adored him, especially Indians in Texas and in the South. So their own fiscal conservativeness and shrewdness, and they are largely a hugely hard working and successful group, demographically, did not give them any better insight into his huge failings and proclivities.
also the bankruptcies and shady dealings of his brothers.
The boomerang is particularly ironic, becoz soon after the height of the 9.11 tragedy, soon after the memorable church function, when he turned himself into a messianic persona, his Mommy said proudly, now he belongs to the world.
And just recently, his parents and he were photographed and they were almost regretful and bashful of his current ignominy, but the roots of his failings were apparent a long time ago.
Not just that, but his parents and his family even thought for Jebbie to be a logical successor as late as last year and if you ask me, they still harbor hopes of a family resurgence.
The second astute observation Mo Dowd makes is regarding how Bush came to be that way:
It seems that if you trust your gut without ever feeding your gut any facts or news or contrary opinions, if you keep your gut on a steady diet of grandiosity, ignorance, sycophants, and peanut butter and jelly sandwiches, those snap decisions can be ruinous.
Bush was wilfully ignorant and went from town to town trumpeting his message in 2002, and his supporters, particularly in the Red States believed his baloney all the way through, whether it was on taxes, or the war.
And it is only now, when it has all come a cropper, that they have some regrets, not becoz they feel he was wrong, but becoz it all came out wrong and they dont see any easy way to wiggle out.
Staying on the topic of Clinton, we dont know if the marginal paper American Free Press is onto something or just fishing
but they raised the issue of Cheney and Clinton and the DC Madam list.
I dont understand why they or some mainstream paper doesnt insist on the full list and publishes it, especially with this suicide of the main lady concerned.
Surely it is a matter of public importance.
It is completely baffling.
I dont understand why they or some mainstream paper doesnt insist on the full list and publishes it, especially with this suicide of the main lady concerned.
Surely it is a matter of public importance.
It is completely baffling.
talking of scarfing naughty snacks, that may have been Clinton's endearing weakness, but for the rest
I think most Dems are fairly fed up of him and he is what Frank Rich calls today an ***ubiquitous albatross*** hovering over the campaign of Hillary.
And people got got weary and wary of another Clinton term with rehash's of past errors and possible past delinquencies and more scandals possibly being unearthed as well as new ones related to his new globe trotting speechifying business and his new money friends, which may all be above board, but when a country is in recession, a formerly modest incomed man suddenly raking in millions starts making ya think of unseemliness.
I think Frank Rich is wrong about Hillary and her Iraq war vote on the other hand, every one who supported the positive vote believed the Bush campaign story that it was as an aid to show unity and pressure Saddam into complying with the resolutions.
Nobody anticipated that the Bushies, including Colin Powell, who was at State, would bug the meetings of the UN security people and dissuade them from a second resolution, would be thinking up scenarios to justify a willy nilly entry into the war, as a Blair aide wrote in his diary, or think up that ridiculous so called summit for half an hour lunch in the Azores and have Bush and Blair eat a little bite and decide it was time to go to war.
So Dems who voted to support the Bush resolution got undermined by Bush perfidy. That's the real story.
Obama can say he was prescient, but we still havent heard any explanation from him how he plans to deal with looney dictators, including North Korea and Myanmar, or his plans for Pakistan.
We would really like to hear.
And people got got weary and wary of another Clinton term with rehash's of past errors and possible past delinquencies and more scandals possibly being unearthed as well as new ones related to his new globe trotting speechifying business and his new money friends, which may all be above board, but when a country is in recession, a formerly modest incomed man suddenly raking in millions starts making ya think of unseemliness.
I think Frank Rich is wrong about Hillary and her Iraq war vote on the other hand, every one who supported the positive vote believed the Bush campaign story that it was as an aid to show unity and pressure Saddam into complying with the resolutions.
Nobody anticipated that the Bushies, including Colin Powell, who was at State, would bug the meetings of the UN security people and dissuade them from a second resolution, would be thinking up scenarios to justify a willy nilly entry into the war, as a Blair aide wrote in his diary, or think up that ridiculous so called summit for half an hour lunch in the Azores and have Bush and Blair eat a little bite and decide it was time to go to war.
So Dems who voted to support the Bush resolution got undermined by Bush perfidy. That's the real story.
Obama can say he was prescient, but we still havent heard any explanation from him how he plans to deal with looney dictators, including North Korea and Myanmar, or his plans for Pakistan.
We would really like to hear.
so michigan and florida are being seated with half votes
I really dont know who thought of this looney compromise but it is weird and it is also weird that apparently the Clinton people accepted the Florida one and are annoyed at the Michigan one.
I have not been witnessing the misogyny of the TV hosts at first hand, but I can understand what is making the supporters of Hillary upset.
Even more upsetting is that Obama is a skinny, food virtuous male, forget black-shlack, it is his skinny ness, good skin and food virtue that is annoying as heck.
I dont know if we can elect a skinny person who doesnt scarf a handful of naughty snacks or sneak out for a food fix.
We'll see.
I have not been witnessing the misogyny of the TV hosts at first hand, but I can understand what is making the supporters of Hillary upset.
Even more upsetting is that Obama is a skinny, food virtuous male, forget black-shlack, it is his skinny ness, good skin and food virtue that is annoying as heck.
I dont know if we can elect a skinny person who doesnt scarf a handful of naughty snacks or sneak out for a food fix.
We'll see.
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