tits up

I guess this is why they use the phrase - "The economy has gone tits up"

http://krugman.blogs.nytimes.com/2008/10/03/the-track-record/#comments

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Bill Maher: Ebony and Ivory

And finally, New Rule: A candidate for president should not be judged by the color of his skin. And to - and to anyone who thinks differently, I say, please do not reject John McCain just because he's white. I think the recent news from Wall Street has made us all less tolerant, and only reinforced the stereotype that white people are shiftless, thieving welfare queens. Now, take a look at these pictures. Here are the CEO's of Fannie Mae, Freddie Mac, AIG and the Lehman Brothers. I know the first thing that jumps out about these faces is they all happen to be white, and they all happen to be responsible f or stealing. But, what you have to understand is that these whites are a product of a society that made them that way. It was the neighborhoods and the schools they went to: Harvard, Yale, the Wharton School of Business. They never learned the value of doing real, actual work. And the first step to fixing that is better role models so kids growing up white today don't think the only way out of Westchester is corporate crime. Or a government handout. Or sailing. So, I get it. The temptation is to look at McCain and vote against him because you don't see an individual; you just see another typical welfare "whitey." And it's true. He spent his entire life shuffling from one low-paying government job to another. Well, except those years he spent in prison. Typical. And, between you and me, he's not very articulate. Oh, he may have some street smarts, but he's not what you'd call an "educated" man. He freely admits he's ignorant about the economy. And apparently the only thing his white running mate knows how to do is crank out one baby after another. And now, of course, her teenage is pregnant out of wedlock, because she learns it at home! But, that doesn't mean we should assume all white people are like that just because so many of them are. I believe there is hope. I believe even the stupidest, greediest, laziest whites can break the cycle of dependence, like this November when we finally move George Bush out of public housing.

http://www.youtube.com/watch?v=0iM0mUfATJk

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political cartoons

Regards,

Kedar

Kedar Desai
Commodities – Structured Sales and Origination
Deutsche Bank London
Ph: +44(0)20 754 70177 Mobile: +44(0)789 420 1415
E-mail: kedar.desai@db.com

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McCain's on pot

http://thinkprogress.org/2008/08/28/mccain-iraq-peaceful/

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``close to zero'' respect for bankers

     Oct. 3 (Bloomberg) -- Luxembourg Finance Minister Jean-Claude Juncker said he has ``close to zero'' respect for bankers, French magazine La Croix reported, citing an interview.

    ``We now have the same people who wanted to emasculate public powers being the first to turn to them for an urgent response,'' Juncker told the French magazine in the interview posted on its Web site today. ``I have for the banking profession exactly the same amount of esteem as bankers have for my job, that is, close to zero.''


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Re: Breath Mint?

Nicolas Stoupak 06/10/2008 08:29

That's the Bloomberg style, they do it in every in-depth article.
"Jack Smith arrived at his Wall Street office at 7am, drank a couple cups of black coffee and ate a donut. He was expecting a bloodbath in the swap market"

"Kedar Desai" 05/10/2008 10:18

From NYT: I didn't get why NYT had to mention this here

===========================================

Shortly after he became chief executive of Fannie Mae, Mr. Mudd traveled to the California offices of Angelo R. Mozilo, the head of Countrywide Financial, then the nation's largest mortgage lender. Fannie had a longstanding and lucrative relationship with Countrywide, which sold more loans to Fannie than anyone else.

But at that meeting, Mr. Mozilo, a butcher's son who had almost single-handedly built Countrywide into a financial powerhouse, threatened to upend their partnership unless Fannie started buying Countrywide's riskier loans.Firms like Bear Stearns, Lehman Brothers and Goldman Sachs had started bundling home loans and selling them to investors — bypassing Fannie and dealing with Countrywide directly.

"You're becoming irrelevant," Mr. Mozilo told Mr. Mudd, according to two people with knowledge of the meeting who requested anonymity because the talks were confidential. In the previous year, Fannie had already lost 56 percent of its loan-reselling business to Wall Street and other competitors.

"You need us more than we need you," Mr. Mozilo said, "and if you don't take these loans, you'll find you can lose much more."

Then Mr. Mozilo offered everyone a breath mint.

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Palin Pics

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political humor

"See, you've got to admit, Sarah Palin does look great when they walk out, but that's causing a problem for McCain now. In fact, now they call the ticket 'Beauty and the Deceased.'" --Jay Leno

"Here's some good news. The government is talking about stimulus checks again. The bad news? We're the ones that are writing them." --Jay Leno

"And the Senate voted on this bailout package again tonight. Senator Larry Craig missed the vote. I understand he was in the men's room, introducing his own package." --Jay Leno

"Aren't you tired of hearing these economic experts talking on TV? It's time for America to get back to air-headed celebrities. Britney, Paris, Lindsay, your country needs you right now. I mean, what would you rather focus on, some Wall Street guy who lost his shirt, or Britney losing her panties?" --Jay Leno

"But Sarah Palin right now is training for tomorrow night's vice presidential debate in Arizona. And she says it has really helped her on foreign policy, because from Arizona she can see Mexico." --David Letterman

 

Ronaldo

http://www.economist.com/blogs/freeexchange/2008/09/the_financial_crisis_reaches_m.cfm

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political humor

"Before we begin, I want to warn people from Nigeria who might be watching our show, if you get any e-mails from Washington asking for money, it's a scam. Don't fall for it." --Jay Leno

I'll give you an idea of how bad the economy is, I wrote a five-dollar check over the weekend, the check was good, the bank bounced. I'll give you an idea how bad the dollar is, I went to buy gold, they said, 'oh, we can only buy it with gold.' That's how bad it is. In fact, the guy in the Rolls-Royce with the Grey Poupon had to switch to French's mustard." --Jay Leno

"Senator John McCain is in favor of the bailout. He loves bailouts: he bailed out on me." --David Letterman

"President Bush now says that the taxpayers could actually make a profit on this deal. Well, that's good enough for me, let's go, come on. And, if you believe that, I have Yankees and Mets World Series tickets." --David Letterman

"A lot of Republicans are worried about how Sarah Palin's gonna do in the vice-presidential debate this Thursday. See you know what she should do if she was smart? Let Joe Biden have the first question, he'll take 90 minutes to answer, oh, we're out of time! Who could have seen that coming?" --Jay Leno

"Hugh Hefner has asked Sarah Palin to pose naked for Playboy. Because right know, you know, she's busy posing as a vice-presidential candidate." --Jay Leno

"Actually, think about that, if she did do it, she could be the first Playmate on a bear-skin rug she shot herself. Think about it." --Jay Leno

"Al Gore spoke at Bill Clinton's forum on global warming last week. I don't want to say Al's put on a few pounds, but I understand Bill hit on him." --Jay Leno

Now today, I don't want to alarm you, when the stock market closed, it was down 777 points, which is the biggest point drop in American history. As a result, President Bush was able to cross off the tenth and final item on his administrations bucket list." --Conan O'Brien

"Of course, the first presidential debate was held on Friday. Many observers are split on who won. Some say Barack Obama won by showing he could hold his own. Others say that John McCain won by showing he could hold his bladder." --Conan O'Brien

"Critics are still analyzing Sarah Palin's interview with Katie Couric last week, and they're saying she was halting, repetitive and stumped on basic questions. Yeah, in other words, Palin appeared very presidential." --Conan O'Brien

"Hugh Hefner is entering the fray. Hugh Hefner has asked Sarah Palin to pose nude for Playboy magazine. Yeah, and Palin said she'd agree to pose for Playboy as long as there's no interview." --Conan O'Brien





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