October 2008

So what's the alternative to extorting a trillion dollars from middle America for the sole direct benefit of rich bankers and NYC? 1. Suspend FASB 157 which earlier this year, because it requires ibanks to value their mortgage junk that's being puked at 6 cents on the dollar at places like Merrill Lynch, contributed to the virtuous cycles now turned vicious. 2. Bring back the uptick rule. ... read more

I've been a fool I've been a fool Forgivin' you each time that you've done me wrong I've been a long time leavin' but I'll be a long time gone – Waylon Jennings This TARP Act isn’t just about the $850 billion bill. It’s much scarier than that. It takes away all rights that you and I have as individuals to choose how to allocate our own capital. read more

After carefully considerin' the whole situation I stand with my back to the wall Walkin' is better than runnin' away and crawlin' ain't no good at all And if guilty's the question truth is the answer I've been lyin' to me all alone There ain't nothin' worth savin' except one another And before you'll wake up I'll be gone Cause after carefully considerin'... After carefully ... read more

Well, we live in a trailer at the edge of town, You never see us 'cause we don't come around. We got twenty five rifles just to keep the population down. But we need you now, and that's why I'm hangin' 'round. So you be good to me and I'll be good to you, And in this land of conditions I'm not above susapicion I won't attack you, but I won't back you. Well, it's so good to be here, asleep ... read more

As Milton Friedman would have told them as he railed against the loss of freedoms inherent in this TARP Bailout Bill of 2008, "There's no such as a free lunch." I don't know what else to say here.  They've passed the bill that enables one unelected Tarpzar, also known as the Treausury Dude, to deem any financial institution or insurance company an "agent of the US government".  That ain't ... read more

Oh, well, had I known that we were going to create a new post called "Interim Assistant Secretary of the Treasury for Financial Stability", I probably wouldn't have raised all this hell about losing my freedom and right to profit and loss. Yeah, right. WASHINGTON – Secretary Henry M. Paulson, Jr. today designated Neel Kashkari as the ... read more

Yesterday is dead and gone and tomorrow's out of sight And it's sad to be alone. Help me make it through the night. - Kris Kristofferson Here's the most frequent question from readers and viewers lately: The Wall Street Bailout Bill is passed. Cody, what do you suggest we do now? You guys know that I've been saying we'd head much lower when this TARP bill passed...and indeed, ... read more

You can look to the left and look to the right But you will live in danger tonite When the enemy comes he will never be heard He'll blow your mind and not say a word If the man with the power Can't keep it under control Some heads are gonna roll Some heads are gonna roll The power-mad freaks who are ruling the earth Will show little they think you're worth With animal lust they'll ... read more

So the fine folks in the government who were supposed to be making sure that any and all profits and losses from all contracts in this country belong to those who take the risks are forcing shareholders of Bank of America to pay the government $50 million in fines for misleading investors and causing this financial meltdown that we're all now living through. Bank of America to Return $4.5 ... read more

Walk along and talk along and live your lives quite freely But leave our children with their toys of peppermint and candy. For seagull I don't want your wings, I don't want your freedom in a lie. Your thoughts they are of harlequin, your speeches of quicksilver, I read your faces like a poem, kaleidoscope of hate words. For seagull I don't want your wings, I don't want your freedom in a ... read more