Good Morning Christy
classic clip

I’d rather see Goober drive a hybrid on out of town and into the new economy of the future, the use and technology of green energy. At least when it a products/manufacturing based economy, it didn’t see like it was all risk.

I may not know for sure since I’m not a student of the finacial markets, but I do a con game when I see one.

Oh, and his way Goober should stop drive by the prison where the criminals who created this mess are.

It just felt right — seemed like that was the way things were pretty much most of the day yesterday. I understand the need to hold back proprietary information or things that could damage reputation or market share or any number of other issues that could arise from being brutally honest about how much a company may suck — but it seemed to me that no one was being forthcoming nearly enough on any of the issues that mattered, including a lot of the folks on the committee who put on a good blustery show for the cameras.

Maybe it was just me, but I was less confident about the whole thing by the end of the day. And, frankly, that’s disappointing.

It did feel an awful lot like a shell game gone public yesterday, didn’t it?

Maybe it was just me, but I was less confident about the whole thing by the end of the day

not just you.

i’ve listened to a lot of hearings on aspects of the economic crisis in the last 6 months and that is almost always my reaction.

I only saw bits and pieces and from what I could read on line, but there is a con going on. I can spot fraud in heartbeat.

To make it worse, I was running around yesterday getting things together for The Peanut’s birthday party at school today. (She turns six tomorrow, but they only have a half day of school, so we’re doing her cupcakes and snacks a day early.) I got little items to put into gift bags for the kiddos to take home as a party favor — and sat there stuffing goofy toys into bags while watching the hearing. It was a rather odd juxtaposition, but really brought home how outside my reality far too many of the folks in that room really seemed.

Morning All. One thing that I gathered from yesterday’s dog and pony show was how little we know about AIGFP. Seems like there are a pot load of other crap beyond CDSs that have brought the economy down.

There was so much more just hanging out there unanswered, wasn’t there?

So, how is everyone this morning — drizzling and soggy outside here today. Good day to be inside and dry. *g*

I thought Goober went to Mount Pilate, not Hooterville. But it’s been a long time.
I get the point though.

Happy last day of winter! The banksters can’t steal spring…

I was mixing my teevee idiocies on purpose there — because, honestly, the tropes are pretty much interchangeable. But I think you are right on Mt. Pilate. *g*

a very happy birthday to the peanut!

grayson did ask a question that i hope has some follow up. it was about aig’s 10K – the one about the potential liability for a change of one percent change in the yield curve. sounded like a question masaccio would have asked.
‘

In France today there is a nationwide General Strike that is supported by 78% of the population. Protesting Sarkozy’s approach to the economic crisis of throwing money at rich bankers rather than helping the working and middle classes.

It will be sunny and in the 70’s here in northern Arizona. The flowers have been blooming for about a week or so. And we have green onions and the garlic is doing nicely.

And Happy Birthday to Peanut! I hope you all have fun!

Sounds like trickle down crap. Reagan would have loved it.

Good Morn Christy and Puppies.

Happy Birthday Peanut!

The mind-picture of you dashing around assembling birthday trinkets and favors with one hand, juggling financial collapse of the universe with the other?
priceless.

Be careful, Christy. Sit down and take a deep breath, SOON. We treasure you, gal!

If we put the Masters of the Universe to work assembling goofy birthday party favors, I think the universe would be a much better place.

OT – From the LA Times: This will drive the Gop’ers Nuts

U.S. won’t prosecute medical pot sales

The statement by Eric H. Holder Jr. represents a landmark shift from the Bush administration’s zero tolerance toward the use of pot by people with cancer and other serious ailments.
By Josh Meyer and Scott Glover
March 19, 2009

Reporting from Los Angeles and Washington — U.S. Atty. Gen. Eric H. Holder Jr. said Wednesday that the Justice Department has no plans to prosecute pot dispensaries that are operating legally under state laws in California and a dozen other states — a development that medical marijuana advocates and civil libertarians hailed as a sweeping change in federal drug policy.

…

I like Dean Baker’s idea of making sure AIG bonuses come from shareholders. As it is, I’m kinda surprised at how little reporting there’s been about shareholder anger. Personally, I want to see heads on stakes.

Does anyone else think it’d be an awful lot easier if the truth were just reported, rather than all these MSM nits and their handlers running around trying to spin the whole mess? The more they spin, the angrier Ma and Pa Citizen become. Wonder when the honchos nominally in charge will notice.
Bah!

Off to a Self Employment Assistance workshop that I may or may not be qualified for. It’s a state program for the unemployed. Since my last employer was a contracting agency, I may not be permantley separated from my last employer. This agency has known since the middle of Nov that my contract was being broken. See it does happen AIG.

And after that, a striking new discovery of a second will brought to our attention of a shady friend of recently passed aunt. Funny how she knows about this will in my aunt’s safe deposit box which we don’t have keys to. Why don’t we have the keys? They went missing when my aunt was in the hospital even thought the 911 report states the keys were placed in her pocketbook.

And it just so happens that this shady friend knew exactly where my aunt’s living will was in said pocketbook but knows nothing about the keys. And when we went to change the locks on at my aunt’s house, it seemed like someone was there already bust since we didn’t know if anything was missing we couldn’t prove a crime was committed. The police did note the open drawer in the desk in a house where all cabinets, closets, and everything else was in their proper place.

Fun times.

Christy,

That would be Mt. Pilot of Andy Griffith Show fame. There is a real Pilot Mountain in NC.

From Robert Reich,
“The President cannot afford to lose the public’s confidence that his administration is a careful steward of the public’s money. The public was willing to go along with a large stimulus package. But it won’t go along with a second stimulus, and certainly not another TARP. And until the public feels confident that its money isn’t being thrown down a rat hole, it may balk at other ambitious undertakings such as health care or education or the environment.”

Obama’s administration is reaching a tipping point.

Good Morning Christy and Firedogs,

the “masters of the universe” and ‘hide-it-under-the rug’ links both allude to a serious burr in this dfh’s saddle : liquidity v solvency-

Atrios has been posting about this for over a year now and even some of the reality based grown ups out there still tip toe around it – aaaarrrgggh

Go figure. I need more coffee for this stuff.

I misread your screed to say AIG bonuses might be issued from shredders.

Hmmmm.

do you know how it was organized? through unions or something else?

Me likey! The shareholders can “reward” these boobs if they think they’re doing such a great job…

Beyond frustrating, isn’t it? Read Jane’s post from yesterday evening summing up her day on the Hill to get a full taste of the level of either denial or outright misunderstanding of basics. I will never, ever understand how we can dig in on specifics but folks on The Hill live in a world of such generalities.

The shareholders include the American public at this point — and shareholders can vote out the whole board of directors and/or management if they so choose in a shareholder action. It’s happening more and more the last few years when there is a feeling of bad faith in the folks at the top and the shareholder’s interests.

Oh my — so sorry about the Aunt issues. Just what you and your family do not need, a crazy stalker friend.

One piece of advice: take copious photos of everything in the house. That way if something does turn up missing at some point, you’ll have photographic evidence of what used to be there.

After following along with Marcy’s liveblog yesterday, I think we need two things:

– Revisit the General Re and AIG securities fraud prosecution in 2005; did they simply move this kind of thing out to the AIGFP arm? Was some of this continuing, but masked as swaps? Note the names in the linked press release from DOJ; with some of those players involved, are we really sure that the investigation was thorough and that justice was truly served?

– Ask Elliot Spitzer to dump. (Come on, you’ve got little to lose at this point in terms of your reputation, and your nemesis AIG is on the ropes. Dump, Elliot, dump. Yesterday was only an appetizer and you know it.)

Probably unions, student organizations, the usual subjects. Sarkozy is seen as favoring the rich and has not delivered the promises to the working class that he campaigned on. The French are not affraid to hit the streets.

loves me some Baker, but . . .

one of the TPM commenters makes the point We The People don’t own ‘voting shares’, we own warrants to purchase future shares

so I’m a little confused about Baker’s proposal

o/t (really cbl ?)

Citigroup, the recipient of billions in federal bailout money, is planning to spend millions on a new executive suite for Vikram Pandit and other top execs — including a “premium” Sub-Zero fridge and “soft seating,” Bloomberg report

note: TPM’s Bloomberg link takes one to a blank page

good morning from the San Diego resort lap top.
can i just say, food is really expensive here. well, it is. 12 something for an iceberg wedge salad. i kid you not.
while i was listening to the hearing and packing for this trip, i mentioned to my husband that we never, hardly ever hear anything new, shocking or revealing with these hearings. the last time i remember hearing anything startling was when james comey was talking about the visit to ashcroft’s hospital bed.

That one was pretty darned riveting, wasn’t it?

This is an older episode of the $40 a day show, but these restaurants look pretty good if they are still around.

They have to stay in the clouds and maintain that 40k altitude. It’s only the little people who get into the specific details. /s

here is Bloomberg / Citi redecorates link

apparently Mr Pandit thinks we’re gonna fall for his “merely consolidating operations” horsefeathers

Love the clip! Speaking of the truth, I’ve been rather amazed that we’ve been subjected to this distraction of ”outrage”. It does play better than Terri Schaivo, you’ve got to admit. But this drop in the bucket everyone is so het up about is not going to get our economy on track while the Fed continues to pour endless $$$$$$$$$$ into the world economy without a by-your-leave from anyone.

Again, speaking of not ”handling the truth”, a friend found this online. I watched the whole thing and it scared the peewaddin’ out of my poor self. Watch it or don’t, but here it is:
The Obama Deception

Happy Birthday to the peanut. Christy filled many of those little party favor bags in my day.

What I am wondering is where is Andy? Maybe he could figure this out and put the criminals behind bars. He always did.

When Liddy came out and read those threats from a few peasants, and then went onto repeat several times how he had to protect “his people”. I thought they will use this as an excuse and never release the names of who ripped the American taxpayers off in very big ways.

And what was with congress tap dancing in front of the cameras acting as if these executive compensation packages were some fucking surprise? They gave that money to them with few restrictions. Seems like Paulson made sure of that.

Where’s Andy when you need him?

OT – In my local paper I read about some shenanigans concerning bonuses to top executives at AIG. Has anyone here heard anything about this?

I’ll bet you liked Loose Change too.

Demi/ Christy. Watched that Comey testimony. “riveting” for sure. Listening to Comey stirred up some faith in me that there are real patriots who hold the law above their party affiliation

Christy,

Happy Birthday to peanut!

I have been trying to find a full bio on Cassano. His background needs to be studied quite deeply. He has to be tied to a bigger picture/power flow and I sense that certain people know this about him.

/s

lol

i had a baked potatoe for 3.95, from the appetizer menu. sissy was supposed to arrive at 4:30, but didn’t get in until after 10. ah, the joys of air traveling.
Nice drive down here, tho. listening to the radio, i hear the president would be speaking at costa mesa and i half thought about going. didn’t, but i spent a good amount of time imagining what i’d say to him if i had the opportunity.

The Obama Deception is a hard-hitting film that completely destroys the myth that Barack Obama is working for the best interests of the American people. The Obama phenomenon is a hoax carefully crafted by the captains of the New World Order. He is being pushed as savior in an attempt to con the American people into accepting global slavery. We have reached a critical juncture in the New World Order’s plans. and only by exposing the con can we help to save freedom in America. The Obama Deception is not about Left or Right: it’s about a One World Government. The international banks plan to loot the people of the United States and turn them into slaves on a Global Plantation. Covered in this film: who Obama works for, what lies he has told, and his real agenda, and how his initial appointments and actions prove he serves the corporate oligarchs, not the American people. If you want to know the facts and cut through all the hype, this is the film for you. other locations:-

and 9/11 was a bank robbery

o/t

and now for something completely different . . .

sitting outside with oldnslow last night, treated to a flight of bats (approx. 30) at dusk . . . from our attic !

quite the scene as I’m jumping up and down in excitement while the mister harrumphs about potential damage to our already structurally challenged house.

better yet, they are too big to be the more common Mexican Free Tail –

oh yeah, it’s official: bats in my belfry :D

keeps the skeeter down

thanks. i’m awake now. oogh!

I mean what bullshit, in the extreme the left and the right ARE about one world government. Hello.

true that, unless they’re fruit bats.

Congrats, cbl2. Mebbe u can claim tax deduction for running a belfry.

oh yeah ! the little critters eat 35 times their weight in insects every night –

we’re big fans.

but, do you know where your marbles are?

When the wife wants to know how I’m really feeling, I always say, “The truth? You can’t handle the truth!” She always buys this line and a heartfelt discussion of feelings is avoided.

No, seriously… I think we citizens don’t realize how wedded to the gov’t the Goldman Sachs types have become. It’s far worse than the corrupt military/industrial/congressional triangle. These people believe they ARE the economy, not the regular working stiff.

I’m sick of this “too big to fail” meme, also. It’s fear-mongering w/no facts. Haven’t we had enough fear-mongering w/no facts? Sheesh.

Tell me exactly the factual worst case scenario of financial events of an AIG Chapter 11. I say the emperor has no clothes.

Oh boy, sorry to hear about that.

Bat damage is quite expensive and not to mention, you’ll need to get rabies shots.

I went through this 1 1/2 years ago.

OBL stated that he wanted to destroy the american way of life. I bet he is surprised that his wishes have come true so quickly.

i think they recommend a koolaid chaser for that coctail.

I remember years ago climbing up and looking in the eave vent and saying, damn, there are upside down meeses in there!

He’s probably not suprised. Being from the bin Laden family, he knows that the Bush family takes good care of their cronies.

Oh good lord — not the New World Order crapola again. They are reviving that shit from the Clinton years? YAWN

Hippo Birdies to the Peanut.

Thanks for this post, Christy. Sadly, it seems that truth is a commodity that is in very short supply these days.

Be careful not to go batshit crazy. First clue is when you start watching faux.

linkie please.

What remains astounding is how after the ENRON implosion,the 1980’s S+L crash and burn and after several years of fraud and vast amounts of $$($9-$15 billion?) going into rat holes in Iraq we land here in 2009 with this Wall St./Big American Financial bust.

Timing of this AIG/Banks slip and slide so conveniently coming into broader public view in late 2008 in the heat of national election,a departing Bush/Cheney regime and any new WH candidates all being put into pay and play politics to win the WH election.

Congress really needs a complete take apart and reset. It has failed to many times.

As for this hybrid free market capitalism where the profits and payouts flow into private pockets but these obscene loss amounts get converted into American taxpayer bailouts the perversion of the fiscal/ moral lines of has become complete.

AIG surely was a knowable bad player. That it was able to enter this deeply into the realms of accounting a-go-go speaks very clearly to failure of American government to
oversee and put the fear of bad things coming into the hearts of AIG charlatans.

Has anyone been indicted,arrested or tossed in jail so far?

Cleaning out the Congress is very much needed.

If we are going to have this “free market capitalism” which also goes to the heart of the current American healthcare debacle then make the rules absolute. Hopefully Obama WH will do the right thing regarding Single Payer Universal HealthCare for Americans and not let the private plan insurers sabotage SPUHC with immoral profits premise.

Surely after this AIG debacle the private sector has no claim/right to subvert SPUHC.

are rabies shots mandatory for serving on capitol hill?

i hate those meeses to pieces.

But it’s sooooooo scary.

lol !

wan’t really a knowledgable fan until about 25 years ago when The New Yorker of all places had a piece about an urban rehab’r. her stronger charges ‘took care’ of the newer, weaker charges by wrapping their wings around them to keep them warm and out of shock . I was hooked :D

we live in interesting times.

beyond fear.

not quite numb.

must not be smart enuf for that.

one foot in front of the other…

i’d like to see that too.
how are ya, dear. still tossing and packing?

i remember it from the bush 41 years.

So far, we’ve only had one bat inside our house and I don’t think they’re in my belfry. I have removed three flying squirrels from inside. They are just about the cutest creatures around. The last one was asleep on our bed one morning when we got up and was in a spot suspiciously suggesting it had been curled up with one of the cats. Not exactly the lion lying down with the lamb, but close…

have a great day pups….

And Thylvester Junior thed, “oh father, look at the thihze of that mouthse

I Brake for Bats

on a tech note, i can see the links clearly on this ‘puter.
i think there’s a song in there somewhere.

Speaking of bats, I just heard this catchy new tune on our local radio station – KORN:

http://www.youtube.com/watch?v=yBZDTK9Yhko

gonna be a bright
sunshiny day

do you remember which character said the meeses to pieces thing?

Ha I found the Sylvester I was talking about, “look at the size of that mouse”!

that’s the one. and, indeed it is. going to be 80 today here in S.D. and we’re going to the beach after lunch.

not to take anything away from your sentiment . . . but never mind ENRON, Cassano worked for Milliken at Drexel. Cramer worked for Boesky

read a lengthy independent media piece on short selling the other day – yep, all the usual suspects put in an appearance

oh and similar parallels btw Financial Reporting Media and Villagers – this idjit doesn’t have to disclose they are married to that hedge fund manager, or this bobblehead is married to that Wall Street PR Wiz, . . . tragically on and on

Originates from Huckleberry Hound, a series of cartoons from the 1960s, in which the character Mr Jinks exclaims, “I hate the meeces to pieces!”

demi @ 84

Jinx the Cat (of Pixie and Dixie fame) on the Huckleberry Hound Show

Pixie, Dixie and Mr Jinks

isn’t it amusing how this thread started with the silliness of yesterday’s hearing and has morphed into talk about cartoons?
Wait, oh, yeah. There is a connection.

Now THIS is a thread I can believe in!

According to one source dat be Mr. Jinks.

you are sooo on my next Strip Trivia team :D

There is a lot of good work done here but, goddamn, people need to lighten up once in a while. It always reminds me of those dour Trots in the 60’s.

Hi Hon! Don’t even ask. We go through periods of just walking in circles like zombies… unfinished projects all over the house. Must be gettin’ old.

Mebbe we could call AIG for names of some movers who do it all, whatever it be, in a flaming hurry whilst no one is watching. Sounds good right now.

Unlike the execs who refurbish at every opportunity, we save and scrimp. None of the “mess” before my eyes is useless, deserving of being tossed.

So we keep plugging away, giving away. Free to good home. Rinse and repeat.

We have found it extremely helpful simply to wait until AFTER garbage day pickup, then put out the used treasures. They’re gone in minutes. Even the ancient old metal fenceposts were picked up by some needy soul planning to use most and sell the rest for the metal. He probably should have saved them awhile. The old posts are probably more valuable than the dollars he got for them. Sigh.

Today’s more Goodwill, foodbank, inner city music school, used book store, recycling center…. And on it goes, with time out to chase pesky house sparrow out of Mr. Bluebird’s house. Picky picky picky about our neighbors, we are….

Hope you’re having a good time, demi. Take a dip in the pool so you can gloat to us. Then order a pool-side coctail and put the cost on some high-roller’s tab, like the bigboyz do. I’d LOVE that! ;->

i had forgotten the cat’s name. now, who on capitol hill can we assign his name to?

I meant on FDL, no specifically the wonderful Redd whose does inject humanity into the Chicken Little’s!

be on the look out for bassets . . . this bein’ thursday and all

Last night Juan Cole was on the Colbert Report (finally he is getting on the MSM, Diane had him on a few years ago, but I believe that has been the only time the MSM has allowed him on)

Last night even Colbert had his pitchfork out. “some of those wall street fat cats have pretty thick skin”

http://www.comedycentral.com/c…..eId=222059

personality-wise, I’d go with Boehner, but with any luck Evan Bayh will emerge the eventual ‘winnah’

Last fall Hank Paulson stated that the efforts to block executive compensation would not “hold water” Bill Moyers reported this

Well, actually I am. I’m visiting my daughter who is on a business trip and now that she’s here, I will be putting some food and cocktails on her company’s tab. Shhhh…don’t tell them. Oops. This is their lap top. Ha!

dam straight, that. i seriously worry about some of the hot heads.
and, you’re absolutely correct about dear redd’s humanity. i pretty much stick with her threads.

Not to worry, heh heh. I’ll vouch for ya! Specialist status: extraordinary.

Give the lady anything she desires.

Signed, Adie Esq., AB cum laude, MS.

huh? over my head.

sh-h-h. Just nod and smile and hold out your glass for a refill.

wow.

the Mighty Axelrod stumbles:

“People are not sitting around their kitchen tables thinking about AIG,” Axelrod said. “They are thinking about their own jobs.”

hope he corrects himself and soon. pssst David, often times, Rahm is full of sh*

we can mulit-task think, worry, feel cheated…

Haven’t you bee wondering where all the folks who reported to Fastow and Lay went after their Enron leaders went buh-bye?

They had to go somewhere — and Enron was a leader in derivatives at the time they crashed, must have had a lot of traders in their stable.

After crawling through Carter Caves in Kentucky with one of my daughters fourth grade classes (quite a while back) and crawling through areas only three and four feet high with quite a few bats hibernating just above our heads I developed an appreciation for these creatures that I had not had.

Soon after started gathering bat shit (guano) out of my barn and out buildings using on garden. Guano is great fertilizer

Check out TBogg’s bassets on thurs.

Axelrod sure did “stumble” there. Monitor the middle class via my very big blue collar family in Dayton Ohio. Sat with a pack (28) of them at my mom’s 81st birthday the other night. 8 of them work at GM ( 3 had all ready retired )others at Wright Patterson Air Force Base one a 26 year employee of Merrill Lynch. The majority of the conversation that night was AIG and the taxpayers being ripped off. Folks were really pissed

These folks are thinking about their jobs and the rip offs

Might be rather careful around both AIG – and bat guano if I were you, folks.

Hard to tell which is the more dangerous, however. I think I’d prefer the company of bats, albeit with face-mask in place. ;->

bats keep insect populations down, great fertilizer. More than I can say for many of the Wall Street rip off artist

Agreed. Plus, they’re wonderful entertainment. It’s just great fun to lie out on our lawn in the summer and watch them “work” our yard and hedgerow around dusk. Magnificent viewing.

Also interesting to see the fruit bats chowing down on fig trees in Jamaica, night after night. A treasured memory, sitting talking quietly with our Jamaican friends and watching the bats dining overhead , then swimming into the bat cave’s watery entrance in hushed silence during daytime to see them at “home”, many cuddling little ones as they hung from the roof.

Seeing w & his maniacal side-kick this week reminded me why the bats and I are fortunate those #$$%s are no longer holding the reins of power. Now, if we all can just work together to clean up after their wretched regime….

yeah no reason to get upset if you have lost half your retirement, pension, insurance coverage. No need to get upset with folks losing kids in a war based on a pack of lies, the outing of an undercover agent whose job it was to follow the path of WMD’s etc etc etc.

Keep thinking about Steve the young man I stood next to during the inauguration. 25, just returned from Iraq where his job part of the time was being part of the team putting dead soldiers bodies into body bags. Calm down Steve. Will never forget looking into that young man’s eyes and what he said about what he had learned

” will do everything I can to make sure young men and women do not get sent to another war based on lies” This young man had joined just after 9/11 believing the Bush administration lies about Iraq.

Just calm down you “hot heads”

I say keep the pressure on and so appreciate FDL for doing so

grayson did ask a question that i hope has some follow up. it was about aig’s 10K – the one about the potential liability for a change of one percent change in the yield curve. sounded like a question masaccio would have asked.

I saw him address that a bit further (mostly to explain it better to the public) in a short floor speech this morning. Apparently the Credit Default Swaps was only part of their mess and the rest of it looked a LOT worse.

It involves toxic mortgage-backed assets and excessive risk-taking by an insurance company. Nasty stuff.

Apparently a light touch is good for speed, but when they’re running off the rails we need more than rules of the road, we need “the good hands of Allstate” or something like a firm grip on the system.

It also worried me to hear Grayson telling about their problems. After the Liddy hearing I felt that once the CDSs were gone they weren’t such a problem, but what he said was downright scary. We clearly need to get rid of toxic assets and wrt it seems Bernanke’s plan to inject lots of money into the system to buy ‘em up has to be a good idea.

I don’t know that we need any crusaders looking to destroy Wall St. But, what we do need is a thorough study of the financial industry laws/regulations to fix the specific problems we’ve encountered without rolling everything back 20 years, only to discover there were some law changes between 1989 and today which were kinda good.

This financial industry regulations bill, whomever authors it, is going to require a collaborative effort in Congress and the WH. It’s not a 2-page gimme.