Friday, August 29, 2008
College Football Kick-off... A blogger... and Economic Commentary
College Football Three Complimentary Picks Kicked Off last Evening with an avalanche of Thursday night games. I will provide three picks per week, and will track these selections of a weekly basis.
BC -10 to Kent (This game will be played in Cleveland... and should end in a route of the Golden Flashes.)
Alabama +5 Clemson (Unless Clemson has the best team since the 70's, you can almost always count on a slip up out of the gate for this squad. Alabama plays the SEC schedule, and Clem may lose this game outright.)
S. Miss -10.5 La. Layfette. (Batten down the hatches boys. This game could be ppd. due to rain or general evacuation. Regardless, if it is played, count on the Golden Eagles of S. Miss to roll to victory.)
Business: One Bloggers Comments
Sometimes you run across a blog that is so good, you would like to call it your own. Today, I will share someone else's thoughts about the monkey business on Wall Street.
"The federal reserve, SEC, and treasury must be hanging on by a thread
to be pulling such blatantly criminal stunts in the open.
1.) Don't have to follow GAAP anymore if you don't want to. (Not that
the banks ever did)
2.) Need an equity infusion from the taxpayer to make private
shareholders whole, no problem. (Not like it wasn't done before through the
3.) Need protection from short sellers why we allow and aid you to
short everyone else, no problem.
4.) Need us to make up data so you can make a killing on the
volatility, consider it done.
5.) Need us make to illegal deals behind close doors to benefit a
privileged few at the expense of the entire world - hey baby breaking the
laws that only applies to the peons beneath our feet is what we were born
I see the streets of this nation one day soon strewn with bankers when
the consequences of this theft and make themselves more apparent
in the coming months.
They deserve every kind of defilement and humiliation ever conceived,
and I will make sure that everyone I know truly understands what they
have been up to in their dark little corners of corruption! "
This morning, the Bloomberg ticker noted two stories which caught my attention. One read "Justice Department seeks to curb prosecution of white collar crimes." Which suggests the campaign contributions are going to come to a screeching halt unless the fat cats on Wall Street, and those who benefited from the financial meltdown will not contribute to campaigns unless the heat is taken off of them p.d.q.!
The other headline read "Banks lobby White House to save Fannie and Freddie preferred shares." I must say that as irritating as the first headline was, this was the one that really seemed to cry foul! To think that these institutions got their Federal backstop at the tax payer's expense, then are trying to save their arses from the inevitable insolvency and dilution of shares put me... Mr. Social Conservative on notice. If this comes to pass, it should be classified as a high crime against the American people. Should this move come to fruition, I will vote for Obama. Furthermore, I will encourage every reader and every Tom, Dick, and Harry I know to vote the same way... Hell, I might even put an Obama sign in my front yard. Social Conservatism be darned if foxes are allowed to guard the hen house... a crook is a crook... and the whole $%^&$@ lot should go to jail!
Even Alexander Hamilton who was credited as the original Federalist knew his limits.He master-minded the Bank of the United States (Not to be confused with Bank of America)the forerunner of the FED. He understood the importance of the country maintaining good credit. Maybe just maybe this is the way the United States in going to massage the countries and financial institutions who are holding that debt. After all, we must not jeopardize the share holders who have weathered the storm... One day, these same countries who have come to rely on the U.S.A....the largest debtor nation in history to pay the bills.
For additional information on this topic follow this link:
London Banker's Blog and comments
Posted by at 1:49 PM