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Thread: FAS 157 is stupid

  1. #61
    Registered User mireland's Avatar
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  2. #62
    Ultimate Member herosrest's Avatar
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    Would you perhaps, for the sake of the non-monosyllabist's elucidate with multi syllables.
    You know........... long words.

  3. #63
    Registered User mireland's Avatar
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    Quote Originally Posted by herosrest View Post
    Would you perhaps, for the sake of the non-monosyllabist's elucidate with multi syllables.
    You know........... long words.
    yo momma

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  5. #65
    Ultimate Member herosrest's Avatar
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    Quote Originally Posted by herosrest View Post
    A comparison is often worth a hundred words.
    The use of fair value accounting for derivative trading was like trying to nail jelly to walls. They are dynamic, that is what they are about, that's why they attract chancers and the business must be measured and accounted, not swept off balance sheets by mumbo jumbo and gobbledeegeek. If accountants and auditers knew of the growing 'size' of problem - they are single handedly to blame. If broadly, they did not know, then a fraud had to be conducted to fool them.

    The exploding market for all types of over the counter derivative trades needed to be common knowledge, broadly discussed and flagged as a hot topic. That is the auditors job. That is why they are there, beyond fee's and livliehood. They matter and must be listened too . They are, more so now but an awful amount of damage is done. Was it all worth it, 'cos it truly is a disaster. One that should not have happened. Implementing new accounting practice has led to disaster. The people who understood, early on had either helped cause it or kept quiet about implications and trusted to luck.

    People who will call it what it is - are rare in the public eye, one is sorely needed today!
    There has been much debate all over the web as to the benefits and pitfalls of Mark to Market accounting rules. Many are of the opinion that MTM is the only way to get an accurate price for any asset. These folks also argue that without MTM you would have much less transparency of institutions balance sheets. Very valid points.

    On the other hand there are those who feel MTM rules have been a catalyst to this financial crisis. By allowing banks and other financial institutions to mark so called level 3 assets to whatever they felt was fair market value. This has had the effect of inflating banks balance sheets and distorting earnings thereby inflating stock prices and CEO bonuses…Valid points as well…

    Here is a take on this. The issues that have lead down this path over the past several years are in part a glitch in the accounting model used by banks. Now before anyone goes off on me for believing the crisis is the fault of some accounting rule, hear me out. MTM rules gave rise to three levels of assets, which we all have heard of by now:
    チャ Level 1 assets are are liquid and market prices are readily available such as the stock of a company like microsoft.
    チャ Level 2 assets are assets with limited liquidity but not so thin that a fair market value cannot be obtained by using what the FSAB (federal standards accounting board) calls “observable inputs”.
    チャ Level 3 assets are assets that are deemed impossible to value because of absolute lack of liquididty and a market in general.

    Prior to November of 2007, banks were able to mark assets to whatever model they felt appropriate and justifiable to regulators as “fair market value”. Here is where the seeds of this crisis were sown. Banks became extremely aggressive in growing their level three assets exposure. Securitisation of mortgage backed securities exploded and everything sent to wall street was packaged into a bond and found a market somewhere around the world. Banks used these “marks to fantasy” to inflate balance sheets which thereby inflated equity prices which helped pay these CEO’s the outrageous pay packages we are so familiar with today.

    In November of 2007 the FSAB issued rule 157 which stated that institutions must use current prices and market conditions to mark level 3 assets. That is a huge change of winds. Banks now were caught off guard with tremendous amounts of these illiquid level 3 assets that had to be marked to more relevant levels. This one change in the accounting rules started the bursting of the housing bubble. Now by no means do I believe the housing crisis was caused by MTM. The cause was compounded by MTM. Over leverage, lax regulatory environments and over building all helped create the mess we are in today.

    The question one must ask is what can be done to correct this? Well I believe there are some remedies. One is to suspend mark to market rules for a period and allow a more functional market to develop. Another is to allow banks to amortize these losses over several years instead of taking the losses immediately. Another is to restrict how much a bank can keep of these level 3 assets in the books. I believe that an answer may lie in a combination of several of these options. What I do know is that something must be done to address this loophole now.

    Further - the mechanism balancing excessive investment and the return taken, is taxation. Taxation is not a burden on the business community. It is a tool of economics. A tool that has been sorely compromised and derided. Today's accounting rules have crippled not only business but also taxation - that is yet to manifest as a problem - but it will strike to the heart. The FU attitude of business towards Government and Regulation must be broken. Honesty must be enforced. Compliance instilled. AND - EGO is finished........ Government and regulators, including audit must listen to and understand - when business screws up. Which it truly has! That does not mean climb into bed with them. The bonus culture must die a horrible death. These people are not worth it. It is robbery by disguise. The price of freedom is unstinting compliance and open analysis across all disciplines - there MUST be jeopardy. (My that rhymes nicely - There must be, jeopardy!

    There are no whiter than whites or virgins in business OR Government, Regulation seems to have adopted Hypocrisy as standard operating procedure - self interest is out of control. Beyond reason and explanation. Decent, quiet and trusting people in all walks have been sorely abandoned by those who are in place to balance interests, quiet, meek, unheard - does not mean DUMB! The lot of you running things grow up and then take a decent coffee break, sit and think through THETA - Θθ Theta finance definition Measures the change in the premium of an option and compares it to a one-day change in time-to-maturity. The longer an option’s time to expiration, the more valuable an option is. High theta options are favored by option sellers because options have a high rate of time decay. CLICK

    That no-one could foresee, think through, understand, effectively warn of, or it appears - simply 'care' about what was to come is a crime. Of insane proportion. Modern trading caught the system asleep and jumped into bed with it. Utter irresponsibility and largesse. Top to bottom. Bottom to top. 'SHORT' sighted suicide!

  6. #66
    Ultimate Member herosrest's Avatar
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    Quote Originally Posted by herosrest View Post
    The Bruha, argument over accounting rules is firing up, quite nicely now. It will become cynical, public *itching before very long. The split, fall, call it what you will, is classic. Those who in recent days begin the leap to defend 'mark to market' as it works today are 'BEARS'. Whoever they be, what ever they do, their interest and livlihood derives from going short. The are vested in short trading and need to know - right now - what is that worth. Note 'worth', which is derived from value, which they ascertain and analyse and attempt to profit from now. Whip it quick, it's called, before anyone notices. They are BEARS. They hold sway, have cut the legs from under Bulls and have sat back smiling for far to long. The process of shorting is a negative and cynical activity. It is legitimate, within bounds and profitable. Markets today have been manipulated, over time, such that all balance of initiative sits in the bears lap. They will, begin some very loud screaming and lobbying if circumstances an rules change against.

    So, who are Bears, can be anybody really in the Financial community, Note though, Financial community, they are not part of Business, Insurance, Banking, Manufacturing, etc... (there are exceptions). They take other peoples money and profit from short term advantages inherent to those who play LONG. The bulls. Here's a shuftie... Short selling.

    It is speculative, it is destructive, it is basically a deceitful and undermining activity. After it brought the world to its knees during the 1930's FDR, outlawed the sharper aspects of short trading. Prosperitity followed. Regardless of, debate, facts, changed modern trading and any else being heaped in the barn, FDR's call in 1938 ensured that the world returned to a path of continued growth, leaving manipulative short trading a thing of the past for nearly 70 years.

    Short traders believe in their practice and rite to such. Those reaping significant reward today, undermine 'all' traded enterprise, have been afforded unbridled opportunity, practice a corruption of ethical business and are scum. Highly placed, quite a few of them, but not one would be missed if they fell down a deep well tomorrow. Short trading is corrupt and fantastically lucrative in the madness of accounting that exists today. How and who influenced changes to accounting rules needs serious, judicial scrutiny. Short trading excesses are not ok. They are as bad and worse by orders of magnitude compared to Enron or AIG or any other Business scandal. Short trading is a massive component of Hedge Fund and Investment trading. It undermines economy's. It is utterly cynical and should be taxed out of existence, up front.

    Investment returns are way over the top, 13% roe 10% roi - how does anyone think Hedge Funds achieve these figures and keep 20% for themselves and their fees and costs on top again.
    Prepared Witness Testimony - Developments Relating to Enron Corp - Full Committee on Energy and Commerce - February 6, 2002. Good afternoon. My name is James Chanos. I would like to take this opportunity to thank the House Committee on Energy and Commerce for allowing me to offer my perspective on the tragic Enron story.

    __James S. Chanos - Running what he believes to be the biggest short-selling operation in the world, Kynikos Associates, James S. Chanos is a professional bear. Kynikos is derived from the Greek word for cynic, and Mr. Chanos makes his living finding stocks that are overvalued, then selling them in hopes of profiting from their eventual return to earth.__In this market, with the S.& P. 500 selling at 31.5 times earnings, nearly twice the historical norm, and with highfliers like eBay going for more than 1,000 times earnings, Mr. Chanos should be in his glory as he goes about deflating the overblown.
    __Instead, he has changed his ways.__In 1996, Mr. Chanos bowed to the times and created a second hedge fund, called Beta Hedge, to supplement his older, short-only fund, Ursus Partners. The new fund really hedges -- that is, it matches short positions with an equal value of long ones, a market-neutral strategy that translates into betting only on his picks of individual stocks.__''This came from the realization,'' said Mr. Chanos, whose office in the Citicorp Center in Midtown Manhattan has a seemingly unending view, ''that the market headwinds had been, and were, so strong that it was masking the high positive returns of short-selling.'' In other words, the stock market's rise was fueled by such a powerful force that it was preventing many overpriced stocks from going down.

    Essentially the Bull run controlled short speculation. That ended. Quite spectacularly. FAS-157!

    Down and Out on Wall Street Published: Sunday, December 26, 1999 An interesting coffee break read.

    Must READ
    Relax regulatory capital rules if need be, but don't let banks hide the truth.
    We Need Honest Accounting By JAMES S. CHANOS - MARCH 23, 2009

    EVERYWHERE THE DRUM OF SELF INTEREST BEATS - A FAINT, WISENED FLICKER OF COMMON GOOD MAINTAINS.
    Accounting cannot do the job - proven fact. Open, honest, enforced and regulated disclosure.
    Total disclosure - a pox on both their houses.

  7. #67
    Ultimate Member herosrest's Avatar
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    Bull Run. Manassas
    herosrest____The power of the quill____(8 of 22)
    Re: The power of the quill - http://boards.history.com/topic/Indi...r-Of/520006263

    Very, few people acknowledge or know what 1st Lt. G. A. Custer did to protect a bridge and his Army during the Union retreat at 1st Bull Run. He finished his military career as he began it. Covering an exit. Out thought and outfought in the face of overwhelming local odds, he covered a retreat - falling in the process. Had he owned up after Bull Run, he would have been shot! At LBH, he was.
    http://files.myopera.com/herosrest/a...;20Running.jpg

    Anecdote. During 1886 the Little Big Horn river was officially renamed - Custer River. lt didn't stick.
    Little Big Horn is actually the Cheyenne name for this world famous real estate.
    http://files.myopera.com/herosrest/a...Horn%20Ram.jpg

    DUCEMUS - DARE TO LOSE - My signature looks a little tremulous, but my resolution is firm.
    __________________________________________________________________________________________________
    herosrest____The power of the quill____(10 of 22)
    Re: The power of the quill

    Regards General, Happy New Year.
    A post l drafted a while back fell foul of the 'blah blah' constrictions which author posting here. ln the confusion of trying to identify which of the miriad four letter words used had triggered the board software to deny posting - the content and effort went vapourware along with the origins of the post - l was mightily peeved at stupid software. You yourself are not the greatest fan of the Community software package. l blew a fuse, quite rightly to. lt was nought to do with members. Now...........

    William A Allen, in previous posts was a significant figure of Montana's early settlement. He learned much about events and people of the LBH battle, authoring the book - Blankets and Moccasins: Plenty Coups and His People, the Crows. together with D.G.Wagner.

    Custer and 1861 Bull Run. Regaradless his rank - a li'l slip l trust your attentive eye will excuse, was there, fortunately for the Union army's. Drawn into LBH, l was struck by what can be 'considered' similarity between the Union plan of attack, manouver and outcome at Bull Run/Manassas. Of course though there was no bridge and numbers engaged were considerably larger. A stalled left hook. Faint to the centre and enveloping right hook. There are similarities with LBH as the Union attack develops into the early afternoon.

    The LBH controversies led me to delve into the natures of the Regiments three senior officers present. lnteresting characters they are, weight of material devoted to Custer being almost overbearing. He had incredible endurance, pushed hard ( héestan ), harder than any, to get a job done. That's him - it got him what he wanted.

    Confederate 'Black Horse' Cavalry were frustrated in attempts to strike the Union column at Bull Run.
    LINK - http://blackhorsecavalry.org/files/2...v%20Sns%20.pdf l believe Custer experienced one of the 'Golden Moments' that were his nature at Bull Run as the Stone Bridge came under barrage and was blocked.

    The following eye-witness excerpt is from a letter, published shortly after the battle. l am still researching the author, it is however qualified by publication in work by Edward Everett Hale. No copyrite restrictions apply.
    LINK - http://en.wikipedia.org/wiki/Edward_Everett_Hale


    "While the Thirty-second was in this position, the Sixteenth and Thirty-first having passed within its range, a youthful orderly rode up to Colonel Matheson to inform him that the Black Cavalry, sheltered from his observation by a piece of woods, were coming up on the right, and, if he would take a cut with his regiment across the fields, they would be turned back upon their errand. The evolution was performed, gave the protection that was desired, and the Black Horse relinquished its purpose in that quarter. While the regiment, however, was adhering to this position, the same youth who had imparted the previous suggestion rode up to the regiment again, and told Matheson he had better now fall back on Centreville, as his duty at that spot had been thoroughly performed. As this was about the first sign of orders (with one single exception) he had received during the entire day, Matheson felt some curiosity to learn who this young Lieutenant was, and whence these orders came ; he therefore turned sharply on the youth, who, he now perceived, could not be more than twenty-two or three, and said, "Young man, I would like to know your name." The youth replied that he was a son of Quartermaster-General Meigs. " By whose authority, then, do you deliver me these orders?" was the Californian's next inquiry. The young man smiled, and remarked, " Well, sir, the truth is, that for the last few hours I have been giving all the orders for this division, and acting as general too, for there is no general on the field." Capt. Wilkes. "

    lt is possible to relate much in Custer's later pomp and audacity on battlefields, stemming from involvement in such an outing.
    Pure audacity. Strike First. Strike Sure. Per ardua ad astra

    DUCEMUS - DARE TO LOSE - My signature looks a little tremulous, but my resolution is firm.

    Last edited by herosrest; 03-24-2009 at 07:22 PM.
    During deep sleep IT came to me and the future of processing is clear.
    Future processors will primarily be digital tuning radios acting as grid computing nodes.
    Voila. See ya in hell.
    PROCESSING

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    The cure for what ails America and the UK.
    http://democracyandsocialism.com/Art...ryComplex.html
    Finance-Military Complex

    Capitalism in its stage of imperialism is specified by the domination of finance capital. Banks, insurance companies and other financial institutions not only squeeze and absorb smaller ones of their own kind, but also get control and subordinate all kinds of industrial enterprises, direct their lines of production towards more profitable manufactures, and it is not surprising that arm making companies are the cream of the crop.

    According to the Forbes Magazine’s ranking of 2007, the first five largest corporations of all times are not industrial but financial institutions such as:

    1.

    Citigroup (U. S. bank), with approximate assets of $ 1.9 trillion.
    2.

    HSBC Holdings (U.K. bank), with approximate assets of $ 1.6 trillion.
    3.

    Bank of America (U.S. bank), with approximate assets of $ 1.46 trillion.
    4.

    GP Morgan Chase (U.S. bank), with approximate assets of $ 1.36 trillion.
    5.

    American International Group, AIG (U.S. giant mortgage lender), with approximate assets of $ 980 billion.

    And due to the same source, the big five arm making companies are:

    1.

    Boeing, with approximate assets of $ 52 billion.
    2.

    Northrop Grumman, with approximate assets of $ 32 billion.
    3.

    Lockheed Martin, with approximate assets of $ 28.2 billion.
    4.

    Raytheon, with approximate assets of $25.2 billion.
    5.

    General Dynamics, with approximate assets of $ 22.3 billion.

    As we see the first five largest financial corporations are in average 40 times bigger than the first big five arm making companies.
    What would we see two years later?

  9. #69
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    And from another Hero of the twentieth century.
    http://www.monthlyreview.org/598einstein.php
    Is it advisable for one who is not an expert on economic and social issues to express views on the subject of socialism? I believe for a number of reasons that it is.

  10. #70
    Ultimate Member herosrest's Avatar
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    The only problem with socialism was that the people weren't share-holders, it didn't make profits and it goes bankrupt.
    Maybe the yanks are going to perfect it, this time around!.........

    Actually, that description sounds a lot like capitalism or what ever it's latest marketing wheeze is.

    Set the people free............. work, save, retire a millionaire.
    l can't see the problem with that concept......... obviously everyone else does or else it would already be the way of things.

    Retire to a fortune - state hasn't to worry about healthcare or state entitlements or anything really, there's yer loot peeps - go do yer thing. You are old enough to be wise and just in case we'll make sure one of the banks advises you how best to take care of your lovely 7 figure cheque. Strange, funny old world.
    During deep sleep IT came to me and the future of processing is clear.
    Future processors will primarily be digital tuning radios acting as grid computing nodes.
    Voila. See ya in hell.
    PROCESSING

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    This explains things from a historical position.
    More stuff for Hero.
    http://iamthewitness.com/DarylBradfordSmith_Bankers.htm
    Economists continually try and sell the public the idea that recessions or depressions are a natural part of what they call the “business cycle”.

    This timeline below will prove that is simply not the case. Recessions and depressions only occur because the Central Bankers manipulate the money supply, to ensure more and more is in their hands and less and less is in the hands of the people.

  12. #72
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    What to do with the price of gold.
    http://goldinfo.net/londongoldfix.html


    "The London Gold Fix"

    A Brief History of the Twice Daily London Fixed Price of Gold and Precious Metals

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    The housing bubble was a crime perpertrated on the American people by Greenspan and the Treasury dept.
    The Fed Did Indeed Cause The Housing Bubble

    By Catherine Austin Fitts - 18 March, 2009

    To: The Wall Street Journal

    Re: “The Fed Didn’t Cause the Housing Bubble”

    By: Alan Greenspan, former Chairman of the Federal Reserve

    Dated: Wednesday, March 11, 2009

    In his article on your opinion page, “The Fed Didn’t Cause the Housing Bubble,” Alan Greenspan attributes the housing bubble to lower interest rates between 2002 and 2005. That’s amazing to me.

    My company served as lead financial advisor to the Federal Housing Administration between 1994 and 1997. I watched both the Administration and the Federal Reserve aggressively implement the policies that engineered the housing bubble. These are described at my website and in my on-line book,Dillon Read & the Aristocracy of Stock Profits (http://www.dunwalke.com). - [snip]

    Alan Greenspan is a liar. The Federal Reserve and its long standing partner, the US Treasury, engineered the housing bubble, including the fraudulent inducement of America as part of a financial coup d’etat. Our bankruptcy was not an accident. It was engineered at the highest levels.

    Your publication of Greenspan’s breezy and bogus history of the housing bubble insults your readership.

    Best Regards,

    Catherine Austin Fitts

    Assistant Secretary of Housing - Federal Housing Commissioner, Bush I

    Quite an open letter, this article. And a lot about drug trafficking too.
    You can read the rest of her inside information at Url.: http://tinyurl.com/coawvd

    Exactly what many always thought and said, and as experienced people will tell you too: "World events do not occur by accident. They are made to happen, whether it is to do with national issues or commerce. And most of them are staged and managed by those who hold the purse strings." - Denis Healy, former British Defence Secretary and Secretary of the Exchequer. (Finance) said this.

    Through the ages they have planned and orchestrated this. Time and again the financial horror show killed millions of people, while Rothschild and the financial cartel enriched themselves. Wars and bubbles are profitable to the cartel.

    Human beings - like you - are only tools.

  14. #74
    Ultimate Member herosrest's Avatar
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    See, even the people who were there, implementing the practice of 'THEORY' and accepted wisdom didn't understand what they were doing and the unintended opportunity provided.

    There was no housing BuBBlE.. tired of hearing it from all these accepted ah so!.. blah, blah, blah. Old wives tales by nut jobs and lacky press it is. and the moron academia.

    Cheap Finance, that was the concept. That is what was meant to be put into practice but was co5ked, manipulated and abused from the start. Finance and construction had the RULES relaxed under pretence of............. reducing costs. Ha ha! Cunning stunt.
    Cheap production costs = huge mark up for construction and boom start-up fees for Finance and 'modern funding'. It would all have gone along in brilliant fashion but that one li'l thing keeps happening. Greed and its related costs kicked in and Money Lenders did what they always do..... grow their fees which became so large from revolving door credit they didn't know what to do with it and gave it to the bosses and hedges who turned the entire adventure into a personal fantasy.

    The bubble was and remains Investment returns.......... all that invested loot looking for and 'earning' Haha! 13% roe and 10+% roi......... it's a con. An investment con - the capital assets producing the 13/10+ can never be redeemed, over 3-4 years it squanders away financing the returns and management fees. Lets see.......... 10% and 13% return..... near as mark 25% a year, also the fund management gets 20% of the 25% and then there is the actual 'real' costs of doing business - which is manipulating and short trading stock markets for cash flow. Yup - the stocks are just a li'l piggy bank to be raided every 3 or 4 weeks to help fund the investors monthly cheques.

    The ideal was a broad expansion of general wealth brought about with cheap finance and reduced costs of the scale of construction and enterprise. A wonderfully robust and far sighted concept. Wealth for all - which benefits all, especially the top %'s.

    Could they comprehend, could hey keep dirty li'l paws out of the cookie jar, could they stop clean money getting dirty, could they not uphold a beautiful ideal, could they not rejoice the good fortune of orinary people, can pigs fly. Do CEO's do coke? Well and globally buggered it is............ China's in an incredibly awkward position at the moment - they have been as daft as the rest of us but are still learning the game. Watch out world............. your Capital assets have matured and are vanishing up their own wazola's. 13% roe, 10% roi and lucre doubles an investment in less than 4 years. It is a 'growth' of 30% which is writ very very very large over the deflation which is now taking place.

    £30% This is interesting because no-one sees it for what it is or understands it.............. a 30% investment return bubble that has accumulated alongside the extended boom. The people conducting the bubble needed a mark, they expected to profit by the 30% devaluation which crashed a segment of the housing market. It has ballooned into the capital credit soup that is evaporating away today, because the Bank bosses are better manipulators than the Fund bosses......... it is going to end very horribly. This is a straight forward recession, out of cycle but an 'accumulated' Capital depreciation adjustment depression of hguge dimension - unknown. It has the added twist of changed accounting rules which enshore that short traders cannot lose in the stock market thus continuing Capital value inflation while the entire economy adjusts to a 30% shrink working its way through the books.

    Theory, accepted wisdom............. it will work itself out given enough time. Haha!........ see ya in hell guys. There isno-one left to lend to, 30% of work forces will be out of a job before the equation balances for growth by which time it will be devaluing again.

    In the US there is more, much more than a years supply of housing stock........ , pray oh prey, anyone taking the home buy gamble now doesn't get burned. 'cos thats the end.

    Well, that's the end of my tryptiche online novel of econoinsanity - economics and finance are the tools of tools. Forgive them father they know not what they do.

    God is an accountant, Jesus was his wayward, rebellious son. He died for li'l sin in the temple, you know, when he lost it - with the money lenders.




    Last edited by herosrest; 03-25-2009 at 11:08 AM.
    During deep sleep IT came to me and the future of processing is clear.
    Future processors will primarily be digital tuning radios acting as grid computing nodes.
    Voila. See ya in hell.
    PROCESSING

  15. #75
    Ultimate Member herosrest's Avatar
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    The Big Takeover Matt Taibbi, RollingStone.com.

    Just a decent article here, that goes on and on and is actually a very clever laugh. It is kinda - valid - . Everyone is sick of it, but what do you do!.............. (sorry.... it's an attitude i've met before, am familiar with and have overcome with force when necessary. The motivated sales twats who believe they are the cheese. They climb up top, to pitch and rake it in whilst everyone else cleans up their mess. Sound familiar, at all?

    "The most galling thing about this financial crisis is that so many Wall Street types think they actually deserve not only their huge bonuses and lavish lifestyles but the awesome political power their own mistakes have left them in possession of. When challenged, they talk about how hard they work, the 90-hour weeks, the stress, the failed marriages, the hemorrhoids and gallstones they all get before they hit 40.

    "But wait a minute," you say to them. "No one ever asked you to stay up all night eight days a week trying to get filthy rich shorting what's left of the American auto industry or selling $600 billion in toxic, irredeemable mortgages to ex-strippers on work release and Taco Bell clerks. Actually, come to think of it, why are we even giving taxpayer money to you people? Why are we not throwing your *** in jail instead?"

    But before you even finish saying that, they're rolling their eyes, because You Don't Get It. These people were never about anything except turning money into money, in order to get more money; values wise they're on par with crack addicts, or obsessive sexual deviants who burgle homes to steal panties. Yet these are the people in whose hands our entire political future now rests.

    Good luck with that, America. And enjoy tax season.
    "

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