– So if for example a BofA owned a complex security called “Orion Butt Fungus” that was worth 5 pesos on the open market, but BofA was too broke to go out and raise 5 pesos to cover that loss, under the new accounting rules, the government told BofA that rather than pricing “Orion Butt Fungus” at what the market will actually pay for it, why not first ask, “How much would BofA like ‘Orion Butt Fungus’ to be worth, in a perfect world?’” –

If OBF was worth five pesos, the money BofA would have to raise to cover that loss would be the loss itself, not the investment’s current value. What’s the loss? It’s the difference between what OBF is now probably worth and what BofA paid for it. Knowing them, they probably paid gajillions of pesos for it. So BofA needs to raise gajillions minus 5. That’s the size of the hole that needs to be filled.

The way they have survived their horrible decisions should be another candidate for this list.

The Fed put its benchmark interest rate close to zero in late 2008 — it’s still that low. That rate determines the cost of capital; i.e. how much banks charge each other for loans.

Those same banks then go out and lend money at a higher rate of interest. They buy capital cheap and sell it high. It’s called net interest margin. The banks’ supplier is the government, which has decided they should live — their client is your average American consumer or business, which they decided should pay them to live.

But in fact, it’s more the American consumer than the businesses. Banks prefer consumer loans — take a vacation with debt! — because the interest they collect is higher. They’re avoiding businesses, which might make productive use of the money, because they don’t think they’ll get their money back.

Check and …check!

If your government lacks the guts to prosecute Wall St fraud (and it certainly DOES my friend) then what in the world would make you think they’d have the balls to even TRY to tax them instead as punishment?

This has been tried before already and IF the tax manages to be imposed it winds-up being something like only 3% off the killings they made in profits.

Want Wall St reform?

JOIN THE FUCKING TALIBAN. They’re the only ones fighting for it.

Kinda.

To appear non-racist?
Don’t want to admit they supported George Bush the Third?

Whadda you mean ‘somehow’?

The COCKSUCKER took every single mistake ever made by Bush and then went on to multiply them EXPONENTIALLY.

NOT to mention the fact that your beloved Nubian Prince LIED thru his pearly whites when he said that he WOULDN’T continue implementing Georgie Porgie’s policies of Mass Stupidity.

Add to that the fact that your dear African’t is clearly COMPLETELY BEHOLDEN to the Wall St financial circle and the ONLY remaining question becomes;

..why the FUCK are you (or ANYBODY else for that matter) still defending President Buckwheat’s actions?

Actually it’s SAD because it’s just ANOTHER..

Sign You May be Living in a Third World Shithole!

Your president’s surname starts AND ends with a vowel.

UNLESS of course an American Predator happens to slam into your house by ‘mistake’.

Even my “Legal Environment of Business” professor, a moralizing twat waffle, would write test questions like, “If your brakes go out and you have to choose which pedestrian to hit, do you go for the street urchin or the guy in the slick suit and nice shoes?” The answer, of course, is you hit the street urchin. If you hit the suit, his family could sue you for the lost wages, which would probably amount to a lot more than the urchin was bringing in selling his plasma.

Not sure how much dick sucking goes on in heaven, but if the catholic church is any representation of our wonderful afterlife; the fellatio will be non-consensual and roughly carried out.

Smart people fucking the dim-witted. Strong people raping the daylights out of the weak This has been going on for thousands of years my friends (McCain voice). Great to see people are getting a refresher course in this great tradition! Good to know something like this will never happen again!

I love how Greenspan is always smiling too. I KNOW I’m being fucked, but at least they wear a smile whilst they have their ill-begotten ways with me.

I say we give McCain the vote and let him nuke everyone. I mean, if anyone survives, they’ll surely HAVE to remember not to repeat that bullshit again right?

At THIS rate, I give it one or two YEARS.

Tops.