GG Posted November 24, 2008 Posted November 24, 2008 I disparage accounting.....like the trillions of debt instruments still held offshore that are worthless and not on the balance sheets of these banks, or the fact that the medicare, SS, et al. liabilities that aren't included on the national balance sheet when quoting our national debt...when it is really a multiple of 3-5X what is stated? Game over.......the Fed is looting the corpse. Because the only thing that makes them worthless is the accounting treatment. Silly me, but if an asset still pays interest and I have no intention of selling it any time in the near future is worth more than zero to me. I could care less that you don't want to buy it. Yet, accounting rules tell me that I have to value it at zero because morons like you suddenly decide they don't want to buy an asset I don't want to sell. And because of these rules, I am forced to sell the asset that I like, but nobody else wants right now. Simple enough explanation, or do you prefer to trust what you hear on the other line just to trade out of a position. I bet people should feel very secure in their well being knowing the panicky itchy trigger fingered gamblers like you control their destiny behind the scenes.
Dwight Drane Posted November 24, 2008 Posted November 24, 2008 Because the only thing that makes them worthless is the accounting treatment. Silly me, but if an asset still pays interest and I have no intention of selling it any time in the near future is worth more than zero to me. I could care less that you don't want to buy it. Yet, accounting rules tell me that I have to value it at zero because morons like you suddenly decide they don't want to buy an asset I don't want to sell. And because of these rules, I am forced to sell the asset that I like, but nobody else wants right now. Simple enough explanation, or do you prefer to trust what you hear on the other line just to trade out of a position. I bet people should feel very secure in their well being knowing the panicky itchy trigger fingered gamblers like you control their destiny behind the scenes. I've got some AAA rated bonds for you GG. If I am such a moron, I guess you won't mind giving me par for them. 6% interest and all......or do you prefer th 0% of a T-Bill? I mean...they are AAA...right? How many would you like? 5K? 20K? 100K? 1MM? Let me know your where you want those delivered.
GG Posted November 24, 2008 Posted November 24, 2008 I've got some AAA rated bonds for you GG. If I am such a moron, I guess you won't mind giving me par for them. 6% interest and all......or do you prefer th 0% of a T-Bill? I mean...they are AAA...right? How many would you like? 5K? 20K? 100K? 1MM? Let me know your where you want those delivered. Can you stick to the example? I'm not the one interested in buying. I have a perfectly healthy portfolio of long term A-rated mortgage bonds that are backing my capital for life insurance policies for people who will not die today, nor tomorrow. I don't want to sell those bonds because they are paying interest, and all indications are that I will be repaid the principal in full. But jackasses like you insist that the bond is worthless, so I have to take an accounting hit on that holding, and with enough jackasses in the world I will have to sell that bond or something else, because suddenly my capital ratio is outo f whack. And all the trading floor hyenas are screaming that risk managers are clueless. Keep it up bunker boy. Your self fulfilling prophecy just may come true. Except the Fed won't shut down banking for three days, but will put the equity traders on an extended holiday as well as stop all new over the counter CDS contracts. Then you can ply your trade in Vegas where you can do less damage to society.
Dwight Drane Posted November 24, 2008 Posted November 24, 2008 Can you stick to the example? I'm not the one interested in buying. I have a perfectly healthy portfolio of long term A-rated mortgage bonds that are backing my capital for life insurance policies for people who will not die today, nor tomorrow. I don't want to sell those bonds because they are paying interest, and all indications are that I will be repaid the principal in full. But jackasses like you insist that the bond is worthless, so I have to take an accounting hit on that holding, and with enough jackasses in the world I will have to sell that bond or something else, because suddenly my capital ratio is outo f whack. And all the trading floor hyenas are screaming that risk managers are clueless. Keep it up bunker boy. Your self fulfilling prophecy just may come true. Except the Fed won't shut down banking for three days, but will put the equity traders on an extended holiday as well as stop all new over the counter CDS contracts. Then you can ply your trade in Vegas where you can do less damage to society. Vegas Baby! I love Vegas......it is so crisp and refreshing on the casino floor. Let's see if I can guess everyone's favorite games. hmmnn.....I'm going to say Ramius is the easiest. He's a poker player. Not by nature....just because everyone in class was doing it so he learned how to play. He probably wouldn't sit down at a table with live people, but he'd play Video Poker Chef Jim.........it would have to seem exotic, and away from the masses...yet not complicated in theory. Maybe Pai Gao. I think he would also play a game with a seemingly foolproof system, like playing red or black on roulette for consecutive spins. He'd sprinkle a few dollars on some numbers as well. Probably his birthday. Meazza....I think he likes to learn and be part of the action. I can see him reading up on Craps, and going to the table, but just not have the bankroll to play it right. He'd bet the pass line, and throw in a hard eight bet or bet the point on 6 or 8 every now and then. DC Tom......probably wouldn't walk into a casino on his own. However, if he was out with friends he would probably take one giant chance on something, even if he didn't know what his chances were. He's not going to sit at a table for hours....but he likes the feeling of risk. I'd say roulette as well. Everything on one number and let it spin! John Adams....he's pretty level headed. He isn't scared of risk but won't go out of his way to get into trouble either. I think he is a blackjack player. He knows what to do at the table and doesn't take it too seriously. GG......GG would tell you the house always wins and casinos are for suckers....but I think I have him pegged. I bet the Mrs. LOVES the slot machines. Not that she has to play them all the time, but when she goes, she plays them good. GG hates to admit it, but even though he sits next to her and pretends it is a chore to watch...he is with her every step of the way and gets excited when she hits. He may even humor her and put a $20 into the machine next to her and take a few cranks. Now he sees no worth in the 5 cent machines....so it has to be 25 cents. And.....if he wins big, like $50 or more, he may even pull the $1 machine on the way to the cashier. Am I missing anyone? We could have a real life twobillsdrive Ocean's Eleven here!
meazza Posted November 24, 2008 Posted November 24, 2008 Vegas Baby! I love Vegas......it is so crisp and refreshing on the casino floor. Let's see if I can guess everyone's favorite games. hmmnn.....I'm going to say Ramius is the easiest. He's a poker player. Not by nature....just because everyone in class was doing it so he learned how to play. He probably wouldn't sit down at a table with live people, but he'd play Video Poker Meazza....I think he likes to learn and be part of the action. I can see him reading up on Craps, and going to the table, but just not have the bankroll to play it right. He'd bet the pass line, and throw in a hard eight bet or bet the point on 6 or 8 every now and then. Actually Texas is my game but good job trying. Of course I don't have any money left since I spent it all building a bomb shelter to prepare for the San Diego game.
Lurker Posted November 24, 2008 Posted November 24, 2008 Oh what the hell....while I'm at it... My Uncle in China.....Timmy Geithner has him on speed dial in his cell phone. When my Uncle tells Timmy to jump...Timmy says "How high?" Get back off the ledge (or back on the meds) so you can pay off on our bet in a few weeks...
Dwight Drane Posted November 24, 2008 Posted November 24, 2008 Get back off the ledge (or back on the meds) so you can pay off on our bet in a few weeks... I don't know....a #6 receiver on non-playoff bound team can get himself into a lot of trouble. As far as Geithner goes.....he is to Paulson what Cheney has been to Bush. There was no question he was going to get tabbed as he has been doing most of the legwork on this. D-Day for small business was in July, D-Day for the country was in September with Fannie and Freddie. China made the call for the bailout....don't think otherwise. I'm not saying this so much for your sake, but for those that thought anything else.
Chalkie Gerzowski Posted November 25, 2008 Posted November 25, 2008 Gawddam Mongrowians sheez a deracritt ritter frower....
Chef Jim Posted November 25, 2008 Posted November 25, 2008 Chef Jim.........it would have to seem exotic, and away from the masses...yet not complicated in theory. Maybe Pai Gao. I think he would also play a game with a seemingly foolproof system, like playing red or black on roulette for consecutive spins. He'd sprinkle a few dollars on some numbers as well. Probably his birthday. I don't gamble, I work too hard for my money. While you guys are in the casino I'm at the best restaurants in town eating and drinking my paycheck away.
GG Posted November 25, 2008 Posted November 25, 2008 GG......GG would tell you the house always wins and casinos are for suckers....but I think I have him pegged. I bet the Mrs. LOVES the slot machines. Not that she has to play them all the time, but when she goes, she plays them good. GG hates to admit it, but even though he sits next to her and pretends it is a chore to watch...he is with her every step of the way and gets excited when she hits. He may even humor her and put a $20 into the machine next to her and take a few cranks. Now he sees no worth in the 5 cent machines....so it has to be 25 cents. And.....if he wins big, like $50 or more, he may even pull the $1 machine on the way to the cashier. Am I missing anyone? We could have a real life twobillsdrive Ocean's Eleven here! Well, imagine that, pointing out that gambling is fruitless because the odds are stacked against you is a vice, not a virtue. I'm sure people feel secure knowing the likes of you treat the safety of the financial system like a Vegas casino floor. But hey, you're the cult hero because you know that China called for the bailout of the US. Did Citi get bailed to appease the Saudis? Who approved the bailout of Iceland? Bachelor party planners? What about Ukraine? Romania? The UK? Surely the Irish didn't get a vote in that one.
outsidethebox Posted November 25, 2008 Posted November 25, 2008 Didn't that rich Arab guy in Dubai by citigroup a while ago? Can someone either confirm or deny this? Thanks.
East Brady Posted November 25, 2008 Posted November 25, 2008 Geithner IS the best possible choice for Treasury. What's your beef with him? Classic comment from someone that just doesn't get it. Of course the big O and his master's have most of America fooled, hence the lack of questioning regarding the Big O's adviser Bobby Rubin who is just another crook. From NY Times article on Citigroup: “The bank’s downfall was years in the making and involved many in its hierarchy, particularly Mr. Prince and Robert E. Rubin, an influential director and senior adviser. Citigroup insiders and analysts say that Mr. Prince and Mr. Rubin played pivotal roles in the bank’s current woes, by drafting and blessing a strategy that involved taking greater trading risks to expand its business and reap higher profits. Mr. Prince and Mr. Rubin both declined to comment for this article. When he was Treasury secretary during the Clinton administration, Mr. Rubin helped loosen Depression-era banking regulations that made the creation of Citigroup possible by allowing banks to expand far beyond their traditional role as lenders and permitting them to profit from a variety of financial activities. During the same period he helped beat back tighter oversight of exotic financial products, a development he had previously said he was helpless to prevent. And since joining Citigroup in 1999 as a trusted adviser to the bank’s senior executives, Mr. Rubin, who is an economic adviser on the transition team of President-elect Barack Obama, has sat atop a bank that has been roiled by one financial miscue after another.” Looks to me like Rubin was one of the ringleaders of the criminal gang at Citigroup. And now his proteges Geitner and Sumners will control the Treasury and likely the Fed before all is said and done. By the way, no one is arguing that something shouldn’t be done about Citigroup. The point is that rewarding Rubin and his cronies with total control over the fiscal and monetary policy of the US does not look like change any thinking person should believe in. As you can see this is just another pile of chit spewed on, We The People, as some sort of CHANGE WE CAN ALL BELIEVE IN!!! So go ahead and buy right into the scam that is Washington and GG Bernanke's beloved FED Banking system. Tell me again how Timmy boy Geithner is the best choice, unless of course you are saying best choice to Rob your ass blind, then I would have to agree. Some of the Tools around here just need to get up to speed, here ya go, I particularly enjoyed the 9-27-08 article. http://www.worldreports.org/news
DC Tom Posted November 25, 2008 Posted November 25, 2008 Vegas Baby! I love Vegas......it is so crisp and refreshing on the casino floor. Let's see if I can guess everyone's favorite games. hmmnn.....I'm going to say Ramius is the easiest. He's a poker player. Not by nature....just because everyone in class was doing it so he learned how to play. He probably wouldn't sit down at a table with live people, but he'd play Video Poker Chef Jim.........it would have to seem exotic, and away from the masses...yet not complicated in theory. Maybe Pai Gao. I think he would also play a game with a seemingly foolproof system, like playing red or black on roulette for consecutive spins. He'd sprinkle a few dollars on some numbers as well. Probably his birthday. Meazza....I think he likes to learn and be part of the action. I can see him reading up on Craps, and going to the table, but just not have the bankroll to play it right. He'd bet the pass line, and throw in a hard eight bet or bet the point on 6 or 8 every now and then. DC Tom......probably wouldn't walk into a casino on his own. However, if he was out with friends he would probably take one giant chance on something, even if he didn't know what his chances were. He's not going to sit at a table for hours....but he likes the feeling of risk. I'd say roulette as well. Everything on one number and let it spin! John Adams....he's pretty level headed. He isn't scared of risk but won't go out of his way to get into trouble either. I think he is a blackjack player. He knows what to do at the table and doesn't take it too seriously. GG......GG would tell you the house always wins and casinos are for suckers....but I think I have him pegged. I bet the Mrs. LOVES the slot machines. Not that she has to play them all the time, but when she goes, she plays them good. GG hates to admit it, but even though he sits next to her and pretends it is a chore to watch...he is with her every step of the way and gets excited when she hits. He may even humor her and put a $20 into the machine next to her and take a few cranks. Now he sees no worth in the 5 cent machines....so it has to be 25 cents. And.....if he wins big, like $50 or more, he may even pull the $1 machine on the way to the cashier. Am I missing anyone? We could have a real life twobillsdrive Ocean's Eleven here! You're a !@#$ing idiot. You live in a black and white world, and just can't accept that people are smarter than you are.
DC Tom Posted November 25, 2008 Posted November 25, 2008 I've got some AAA rated bonds for you GG. If I am such a moron, I guess you won't mind giving me par for them. 6% interest and all......or do you prefer th 0% of a T-Bill? I mean...they are AAA...right? How many would you like? 5K? 20K? 100K? 1MM? Let me know your where you want those delivered. I'll take all you can give me at what you think they're worth.
molson_golden2002 Posted November 25, 2008 Posted November 25, 2008 You're a !@#$ing idiot. You live in a black and white world, and just can't accept that people are smarter than you are. Hmmmm....I gues Dancing with the Stars didn't put you in a lighthearted and gay mood
erynthered Posted November 25, 2008 Posted November 25, 2008 I wonder if they'll keep that 20-year contract to pay the New York Mets $400 million to name the teams new stadium Citi Field.
molson_golden2002 Posted November 25, 2008 Posted November 25, 2008 I wonder if they'll keep that 20-year contract to pay the New York Mets $400 million to name the teams new stadium Citi Field. Federal Reserve Park
Chef Jim Posted November 25, 2008 Posted November 25, 2008 Federal Reserve Park "Sir, we're going to need to see your ticket." "!@#$ you! I own this damn ballpark!"
John Adams Posted November 25, 2008 Posted November 25, 2008 You're a !@#$ing idiot. You live in a black and white world, and just can't accept that people are smarter than you are. He'll reply tomorrow once his 8 housemates get their turns on the computer. Right now, he's gathering eggs from the chicken coup. When he's done cleaning the sawdust latrine, he can login and see I threw him this bone: on the rare occasion that I enter the pit of despair that is a casino (I spend a lot of time at the Jersey shore near AC), blackjack is the game I go for. I also will play the line in craps. Those are the 2 best odds in the casino. If I ever went to Vegas, I'd bet on a few sporting events. Quick: what's my favorite color?
molson_golden2002 Posted November 25, 2008 Posted November 25, 2008 He'll reply tomorrow once his 8 housemates get their turns on the computer. Right now, he's gathering eggs from the chicken coup. When he's done cleaning the sawdust latrine, he can login and see I threw him this bone: on the rare occasion that I enter the pit of despair that is a casino (I spend a lot of time at the Jersey shore near AC), blackjack is the game I go for. I also will play the line in craps. Those are the 2 best odds in the casino. If I ever went to Vegas, I'd bet on a few sporting events. Quick: what's my favorite color? Red?
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