Rolfe Winkler
Option ARMageddon
Afternoon links 10-22
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CFPA clears house panel (Bloomberg) A step in the right direction.
More aid for Pakistan (Newsweek) But is the money doing any good?
Why mortgages aren’t modified (Ed Harrison)
How the current economy has affected dentists, vasectomies, guns and shark attacks (CoinbyCoin) A good video, though be careful re: his chart of “leverage,” which looks to me like excess reserves in the banking system. A better measure of the economy’s leverage is debt to gdp.
The problem is not TBTF, it’s TDTR (NakedCapitalism)
Court deals blow to owner of huge apartment complex (NYT)
Pay curbs are not the answer (Reuters) Ken Feinberg’s pay restrictions feel awfully good, but they aren’t enough (not least because only TARP assistance counts as extraordinary. What about TLGP!) What we need is a wholesale redesign of the financial sector. Probably impossible, unless the biggest banks actually fail and have to be rebuilt from the ground up.
Dick Bove says WFC a “standout” bank, downgrades to “sell” hours later (ZeroHedge) See the video for yourself.
Scary good Tom Cruise impression (YouTube)
Job posting: Charmin ambassador (Charmin)
Anvil shooting (for the guys…)
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“Probably impossible, unless the biggest banks actually fail and have to be rebuilt from the ground up.”
the FRB/FedGovt will never allow the biggest banks to fail. but what’s to stop the FRB/FedGovt from failing?
Nancy Pelose and the president think alike, mostly. Both think that they are smarter that anyone else and believe that their ideas are the best. No matter what the American people think, those two have to be right! Anyone who disagrees with them is a terrorist or just plain sick in the head! I expect, before long, there will a law that anyone who disagrees with them will be subject to a prison term or a mental institution!
Are we headed for a system similar to communist Russia? There, for many years, you might just be picked up off the street and taken away to outer Siberia and forgotten about. A neighbor might have mentioned to a friend that you didn’t like the way the government was running things.
Does H1N1 cause rampant hyperbole as a side effect?
Being that Israel’s politicians want to change the rules of war so that they can order the killing of civilians, perhaps we could ask other alleged criminals what changes they would like in the criminal code.