September 2008
83 posts
For all the Wall Street vs. Main Street
“According to Bloomberg News, stocks lost $1.1 trillion in value, meaning the market loss was larger than the size of the $700 billion bailout.” (via Politico.com)
All you people claiming the bailout is bullshit, and that Main Street doesn’t need Wall Street - how do you feel now? That $1.1 trillion (and probably more to come tomorrow) came directly out of your 401k, rather than a bailout,...
“If you dislike change, you’re going to dislike irrelevance even more.”
– Eric Shinseki - 34th Chief of Staff of the United States Army, 1999-2003 (via soupsoup)
dearworld:
diamondsontheinside:
New Killers...
“She’s done three interviews and she’s running for Vice President of the United...”
– Chris Rock on Sarah Palin (via soupsoup) - HAHAHA
I am proud to live in the most open transparent...
Fred Wilson posted this today on his blog, and I thought it was a good point - for all its flaws, we live in the most open government in the world. Would this kind of thing happen in China?
I watched the debate last night like many other americans. Although the nationwide numbers aren’t available until monday, it appears that about 40% of americans watched last night. That’s bigger...
Wario Land: Shake It Busts Up YouTube →
This is a video, but you’ve got to click through and watch it on YouTube - there’s a surprise in store. Not your normal YouTube video.
Bailout Details Streaming In
muppetpants:
soupsoup:
One plan under consideration would release $250 billion immediately, with another $100 billion available at the discretion of the president.
They also said that there would be limits on pay packages for executives whose firms seek assistance from the government and a mechanism for the government to be given an equity stake in some firms so that taxpayers have a chance...
Where is this Main Street?
Where is this main street? I think you actually mean people who work hard physically (vs. mentally).
Stealing wealth my ass…In 2006, the top 25% of U.S. taxpayers paid about 85% of all income tax collected. In contrast, the bottom 50% of taxpayers paid less than 3% of the total taxes collected.
Thanks for kicking in your 3% main street, you guys are really keeping this thing humming.
...
CONFESSION
I used to really like Obama. Back when he was a new senator (which I know wasn’t long ago) I used to read his speeches and get energized. It was fun. It really was.
Then, instead of just listening to his speeches and getting caught up in how nice it would be if what he said would actually work, I tried to figure out how, in reality, things would work. And I realized: never gonna happen.
...
220. Until you are a doctor, never answer your...
rulesformyunbornson:
That goes for emails, texts, twitters, and tweets.
Agreed - this is very rude. I also think it’s rude to answer your cell phone except to say “I’ll call you back” when having a conversation.
“I wish we lived in a world where political discourse was not boiled down to the...”
– Jordan
Rolling Stone's Matt Taibbi on Sarah Palin
erinnicole:
“The great insight of the Palin VP choice is that huge chunks of American voters no longer even demand that their candidates actually have policy positions; they simply consume them as media entertainment, rooting for or against them according to the reflective prejudices of their demographic, as they would for a reality-show contestants or sitcom characters.”
So sad...
"The last wrench in the toolbox"
dihard:
Consolidated Supervised Entities Program …A leverage ratio measures the amount of debt a company has compared to its total capital. A leverage ratio of 30 means that 30% of a bank’s total capital is debt. The banks could take on more debt, which was good when times were good because it allowed them to make more transactions. However, high levels of debt means it takes only a small...
Great nickname for the proposed bank bailout:
The Hanky Panke Plan (short for Hank Paulson and Ben Bernanke plan).
WatchAn entire basement decorated with Sharpie only. Click and drag to pan around.
The Cab Ride I’ll Never Forget →
jaie:
bmiller:
onemoretimewithfeeling:
Really touching story. It’s short, read it.
Uhh… Yeah read it.
Wow. Yeah, read it, like they said. Wow.
Yeah - wow. Very touching.
How to Sell Short
dihard:
Perhaps you’ve seen headlines or references in articles about the ban on short selling. Many believe it is one of the main causes of the current financial crisis and the fall of such banks as Bear, Lehman, and AIG. But what exactly is “short selling?” How and when can you do it? And why is it so frowned upon?
When to Sell Short: You sell short when you think that a certain stock price...
“One day Alice came to a fork in the road and saw a Cheshire cat in a tree....”
– Lewis Carroll (via craytonc)
I think I live in heaven...
dearworld:
Sep 21Partly Cloudy79°/61°
Yes we do - it’s called Charlotte :)
“Buy drinks for strangers.”
– John Carney (DealBreaker.com)
Reminder: Today be International Talk Like a... →
Remember t’ reference t’ list o’ handy pirate phrases as you go about yer business.
Carney to Leave Dealbreaker for New Silicon Alley... →
johncarney:
A new era on Wall Street calls for a new blog on Wall Street.
Congrats Carney. Are you bringing Bess with you? Also - “Clusterstock” has to go as a name, especially if you’re trying to replace the excellently named Dealbreaker.
Mahatma Gandhi, as you know, walked barefoot most of the time, which produced an impressive set of calluses on his feet. He also ate very little, which made him rather frail and with his odd diet, he suffered from bad breath. This made him….. (Oh, man, this is so bad, it’s good…) A super-calloused fragile mystic hexed by halitosis.
via michaelikesit
Some answers about the Bank of America/Merrill... →
Interesting article from the Observer that does a good job answering some questions about the combination going forward.
Bank of America’s headquarters will remain in Charlotte.
Merrill approached Bank of America to do the deal, and did not work with any other buyers, worried what the Lehman situation would mean for their own future
Merrill’s brokerage will keep the Merrill...
“I truly believe that people like myself, who are in a position of entertainers...”
– Kid Rock tells CMT Insider (via craytonc)
“In the future, everyone will be famous for 15 million pageviews.”
– Alex Blagg (via blakeley)
Lehman is bankrupt and Merrill is being acquired...
This is an historical weekend on Wall Street.
Lehman Brothers is bankrupt. Barclays has walked and the Chinese are no longer interested.
Bank of America has bigger plans, and is buying Merrill Lynch for $44 billion.
Whoa.
Watchpilnick:
“Rock-star physicist” Brian Cox talks about his work on the Large Hadron Collider at CERN. Discussing the biggest of big science in an engaging, accessible way, Cox brings us along on a tour of the massive project.
“There are lots of ways to lose your life - all at once, or one day at a time.”
4 tags
Stop Talking Unless You Know What You're Talking...
As I’m sure everyone has heard by now, over the weekend, Freddie Mac and Fannie Mae, the two largest mortgage companies in the country, were taken over/bailed out by the U.S. government. Between them, they provide over three quarters of all home mortgages and hold about $5.5 trillion in mortgages and guarantees. Without them, housing finance in our country would grind to a halt - no new...
“You are young, my son, and, as the years go by, time will change and even...”
– Plato’s “Dialogues”
