Wednesday, March 25, 2009

Rant

After reading that AIG letter I wanted to vent a little. Honestly with all the shit swirling around the industry I work in it I've been somewhat silent through it all. Yes I've linked right winged political articles and yes I've shown some disdain for our new president but it's all been reserved. Until now.

There is nothing I enjoy more than public outrage, especially when it's forced upon the public from crooked ass politicians who all have an agenda and that agenda is never to help anyone else but themselves. If Wall Street is as corrupt as they say then Congress, The House and the staff of the President are devils. First let me start out by saying if the government would have bailed out Lehman Brothers this mess could have been avoided. And I'm serious when I say that. Economic experts agree, look it up. But instead they chose to facilitate a deal for Bear Stearns or more like stage a robbery to help a politically connected Jamie Dimon at Chase. Funny how that works. Poor Dick Fuld must have not contributed enough to Hank Paulson. In any event the credit default swap era took to a new shitty low. Firms were ripped apart, failed and collapsed. Companies that had vested options, bonds, other derivatives were soon not paid leaving many other companies penniless. At the same time banks froze credit and people defaulted on mortgages left and right rendering them useless. So what happens next, enter government.

TARP was created to rescue troubled assets of firms around the country to stop the bleeding. Subprime mortgage positions, credit swap defaults and otc options produced losses in the trillions in the financial industry. Now the plan had some changes but essentially the idea was to stand up these firms to prevent them from failing. Then media outlets began to do what they do best and that is for the most part spread lies. Reporting, in part about CEO pay, executive perks, country club memberships, etc. And part of this is warranted. CEO's have always made way too much money even in the worst of times but this outrage started to trickle down to the everyday worker.

The guy like me. I was stressed out so bad this past year because I was so afraid my bonus would not be paid. A bonus to the normal employee from associate level on up to anyone NOT on the executive board is basically just your overtime for the year. Since we get no overtime. Furthermore it came across like the government didn't know wall street was acting like this. Fucking Hank Paulson was Goldman's CEO during the time Credit Default Swaps were invented! He mad GAZILLIONS while at Goldman. Everyone knew these risk based products were dangerous, but when people make money they tend to shaddup about anything that would cause an outcome where they don't make money anymore. And don't even get me started on how the democrats and the former Clinton president ruined the mortgage business by giving loans to filthy poor ass people all in the name of living the American Dream. Because that's another day. And I'll admit Bush did some fucked up shit but economically he was a sound president. For three years he begged congress to reign in on Freddie and Fannie Mac. While blowhards like Barney Frank assured Americans the mortgage business was as sound as ever.

The overall slant on Wall Street is negative. It's a shame, even the President has gone out of his way in the past and now to bash it. Mainly because he still has the experience of a junior Senator and doesn't have a clue about how Wall Street works. It seems as if Americans turned on each other so quickly and all that aided it was a little he said she said. Like High School. One big gossip fest ostracizing the "whore" of the group. Nevermind the fact that thousands of normal people lost their jobs over this entire mess. Life savings gone. My uncle personally lost over a million dollars of Bear Stearns stock, was an employee for 23 years. Not on the executive board. Just a normal guy, thinking he had a secure job, with a wife, two grown kids.

Yeah Public Outrage, you want to take his bonus away too because his bank got TARP money. Fuck you public. And Fuck you hard. Read up on something once in awhile and try to understand what is really going on. Stop being sheep. You look like a crazed PETA member throwing red paint on a chinchilla coat. Act accordingly. The TARP money was to posture up financial companies who made bad bets. Deal with it. Part of posturing up a company is keeping workers compensation flowing. Yes it's fucked up teachers get paid shitty but you chose to be a teacher. No one complains about cops all over the country pulling in double overtime or no one mentioned any Senators forgo a year salary or not take any $12,000 "business trips" overseas. But everyone wants workers on Wall Street to return bonuses and to give up doing business the way it's been done since the day the first stock was publicly traded. Sometimes I really question this country's overall aptitude. And sometimes I come away thinking it's declining, at a massive massive rate.

Jake DeSantis Resignation

AIG Resignation letter. MUST-READ. AWESOME.

Mornin' reads

Obama is on board in battling Mexican drug cartels. Is it 1980 again? Where is Pablo Escobar?
(CNN.com)

NYC Underground Poker. Remember Rounders? One of my favorite movies ever.
(Cajun Boy via Salon.com)

The Master Orater was talking last night.
(NY Times)

Wall Street not loving this anti-Wall Street campaign Obama contiues to drive.
(WSJ)

Not sure why I'm linking this but I couldn't stop reading it and I guess after my wife's labor/birth being so terrible that I find myself extremely intrigued by child birth. With that said this bitch seems a bit nuts. The whole Birthing thing at home is sort of crazy to me but whatever herbal teas used to scare me too.
(NY Mag)

Japan, flying by train. Gotta give it to those motherfuckers man. They are some creative people.
(LA Times)

Found this interesting, Spitzer was former AG in NY before being an ex-disgraced governor and he would try to infiltrate the Wall Street scene the way Giuliani did the mob. Nice to see he still thinks he is relevant though.
(NY Observer)

Untold story of the biggest Diamond Heist the world has ever seen. I think I saw a movie about this. It's an awesome read.
(Wired.com)

Tuesday, March 24, 2009

Good times.

Man what a great night out Saturday night. We went to Johnny Utah's in midtown for my cousin's birthday. It was a cool place, it features a big ass mechanical bull in the middle of the joint. It's pretty funny seeing people getting tossed off that thing every minute. I drank an awful lot. I mean an AWFUL LOT. But was still able to wake up alive and even went on my normally scheduled Sunday and played football. I guess I am a alcoholic professional. The wife is most certainly proud. Some drinks consumed:

Corona, Patron, Jack Daniels, Jameson, cheap tequilla shots, Kamikaze shots, and Jagermeister.

That's like a liquid Heath Ledger. Damn I should be dead.

Good times.

Mornin' reads

Geithner going to whine about getting new powers to stop the horrible, horrible men on wall street.
(NY Times)

AIG execs giving back thier bonuses after some nudging from Attorney General Cuomo.
(NY Times)

The Big Takeover, Rolling Stone piece about Wall Street marrying the government. I hate it but some of you might like it.
(Rolling Stone)

Kass getting it done. This guy is great. He's always rightr even when he is wrong.
(Clusterstock)

China hating on the dollar, want to replace it or "invent" a new reserve currency that won't be tied to a nation. Good luck with that, I'll be sure to wipe my ass with it.
(FT.com)

Women stole breasts.
(NBC NY News)

Notice how Obama is backing off the criticsm of Wall Street. He might finally realize that for a healthy Main St. you need a healthy Wall Street.
(WSJ)

Since I've been linking stories about the drug lords in Mexico here is a little follow up, the guantlets have been thrown down.
(Breitbart)

If you were a jew who knew Madoff you lose.
(Gawker)

Cindy Crawford still got it.
(Huff Po)

Monday, March 23, 2009

DAY.........Off

Taking the day off, totally. Haven't even searched the web today. Don't even know what the market is doing. Nice long break. See ya tomorrow ya humps.

Friday, March 20, 2009

Mango Salsa

Why am I not at home watching the March Madness right now?

My summer loafers, khakis, blue shirt, light leather jacket. First day of spring.
I walk outside this morning. It's snowing. Good one Jehovah. Your a funny cat.

So a pack of vagrant drug dealers moved in across the street about two weeks ago. About 1am Sat morning the wife tells me undercover DT cars and about 6 squad cars roared up the block and rounded them up. She's scared now. I told her to relax. They ain't Mexican druglords. Nothing a lousiville slugger to the face won't fix. Besides, we have an army in that neighborhood.

Everyone sign up for Twitter. It's micro-blogging.

Facebook is for people living in the past. And also for nosey people. Gossip beeyotches.

Ladies do you name your tits? Just asking.

1 trillion dollars would be sweet

You ever get so hungry that you actually fell the acids in your belly eating your stomach inside out. Or is it me.

Meetings on Friday's should be banned. Dead serious about that.

Everyone see Barack Obamer is still out there on the election trail. Leno, picking NCAA games, parties every week....pssst. Barack. You won. Get to work because the people you picked for the cabinet I wouldn't pick any of them to change a fucking light bulb. So stop leaving them alone to say dumb things and skirt tax laws.

I Search The Internet So You Don't Have To

No, I don't watch wrestling anymore although I should but here is a nice little tribute to Mankind. Mick Foley.
(Gunaxin)

Charlotte, NC getting a shot in the arm.
(Charlotte Observer)

AIG bonus timeline.
(Clusterstock)

Man living in Setroit really sucks now.
(Freep)

Medical Marijauna in Michigan.
(Chicago Tribune)

Listen strippers make good money ok. Don't judge.
(Yahoo)

You can't stop nuclear growth you can only hope to contain it.
(Reuters, UK)

I Love You Man is something I want to see. AV Club sat down with both goofball actors and things got funny.
(AV Club)

Iraq, 6 years later.
(Time)

Tuesday, March 17, 2009

Happy St. Patrick's Day

Amateur Day. A.K.A St. Patrick's Day.

When all the bars are flooded with amateur drinkers. Professionals like myself don't go out to bars on St. Patricks Day for that simple reason. Stepping over piles of puke, getting elbowed left and right, dealing with beer muscle symdrome, and passed out teenagers. I like to enjoy a black and tan in a Irish Pub with some corned beef on rye. Boiled potatoes with cabbage on the side. Man that's St. Patty's day, not a crowd of amateur drinkers posturing on you.

I Search The Internet So You Don't Have To

Not out of the woods yet. Bernanke is either playing it too close or is scared shit.
(Bloomberg)

Great piece on former CEO of Imclone. Remember him? Remember Martha Stewart?
(NY Mag)

Travel deals for the poor.
(Time)

David Chase's new HBO series.
(Variety)

Nice whip.
(Wired)

When I think St. Patty's day I think of great corned beef from an Irish pub in midtown or downtown (Beckett's) and I think of the Chicago River dyed green.
(Chicago Tribune)

St. Patrick
(Catholic.org)

Kill yourself. If you were on the AIG board what would you do?
(AP News)

A little devil's advocate on the AIG bonuses story.
(NY Times)

Friday, March 13, 2009

Subway Movie

I think I'll take a cab home tonight.

Shark Fight

Man fights Tiger Shark. Man wins.

Nola.com article on the above Outside Magazine link.

The guy comes off remorseful but it sure does seem like he picked this fight. I just overall have a problem with hunters and deep sea fisherman. I don't find joy in killing animals unless I am eating them to survive. Pretty incredible story though.

Let me just ask you though. Let's say a Shark walks into your house and starts walking around picking up shit, leaving his wet feet on the floor, now you have to mop and shit. Then he kills you. Sounds sucky. Jus sayin.

Afternoon Reading

Mexican druglords have American sleeper cells just over the border. Here is a story of a pair that were jailed.
(Cnn)

Mickey D's around the world.
(Gunaxin)

Travis Henry and the story of his brood.
(NY Times)

Sears Tower is dead. Meet the Willis Tower.
(Chicago Sun-Times)

Babcock and Brown, a investment bank in Australia, bit the dust. Big news over there. Like Lehamn Bros. of Australia.
(The Australian)

Interesting article about where those stimulus funds go. Or do they go?
(Baltimore Sun)

Berkshire lost the AAA rating.
(CNBC.com)

6 Ot's but Cuse gets it done, what a tremendous game this was.
(ESPN.com)

Tuesday, March 10, 2009

Today's NY Times

Daily Madoff link. Obsessed Maybe. Update: Via Bloomberg, Madoff pleading guilty, no plea deal. (NY Times)

Is there a price on the himan life?
(NY Times)

The lost art of the Irish Pub. Me personally, I love Irish pubs and not just on St. Patrick's Day.
(NY Times)

Your kid is dumb because your Dad is an old fuck.
(NY Times)

Snip

Vasectomy madness!
(via CNBC.com)

Why did god make it easier for a man to get sterilized than a woman? We will never know the answer to that.

"There are some variations on the procedure such as no-scalpel (keyhole) vasectomies, in which a sharp hemostat, rather than a scalpel, is used to puncture the scrotum."

AAAAAAHHHHHHHHHHHHHHHHHHHHHHHH

Fuck.

Mornin' reads

The Atlantis in Dubai. Dubai sounds like an amazing place. Too bad I have zero desire to go there. Not like I can afford to but whatever. It's sand and princes.
(LA Times)

To say I'm obsessed with this Madoff scandal is to say fat people like cookies.
(Vanity Fair)

Maybe this is what is wrong with the country. Cue up REM's "Losing my Religion".
(Google News)

Electronic games, our childhood 80's kids. Soak it in.
(Wired)

Mark to market accounting rules and how they affect the reportings of GE, whose stock is traidng no more than a 6 pack of light bulbs.
(Bloomberg)

Talk in movie quotes.
This book is right up my alley, I talk in movie quotes all the time.
(Cnn.com, Amazon.com)

China getting their piss all hot saying we broke some naval law or some shit. Relax gooks, chances are you did something wrong.
(Reuters)

Ape's can plan to harm you just as well as woman can. FACT.
(Apnews.com)

Monday, March 09, 2009

Failure

You lose.

2 more

Speaking of the Oracle, he was on Squawk Box this morning. Here it is.
(CNBC.com)

I bet this shit it worth a pretty penny.
(NY Times)

SNL Wins, Geithner loses

SNL abuses Geithner. That moron who is Secretary of Treasury.

Brunch readin

North Korea flexing those tiny muscles again. Bunch of homos.
(Breitbart.com)

NY Times is broke. My question is why they own 17.8% of the Boston Red sox?
(Yahoo Finance)

Jim Cramer, he's the best. Talks about his critics and the current administration.
(MainStreet.com)

Mexican cartels operating through Atlanta.
(USA Today)

Some Hippie wants to sail a boat made of plastic bottles to Australia. Good luck with that
(Cnn.com)

Cracked.com hilarious take on Nic Cage movies.
(Cracked.com)

Interactive Chart on Obama's first days, none of them include ruining the country even more.
(AJC.com)

Play Duck Hunt. Your welcome.

AIG, help them

We need to continue funding AIG. We cannot allow it to fail. Hear me out.

The problem with letting a company like AIG fail is what will fail around it. See AIG insured just about everything that has been fucked up with the economy. Failed mortgages, credit default swaps, the 38 billion it backs money funds with, and the 19 trillion in life insurance policies that people might redeem early or withdraw money from. It's a tangled web. Much like Lehman Brothers they have thier hand in just about everything. Even The Oracle (Buffet) thinks we should not let AIG fail.

Credit default swap, in case you don't know what they are, is a derivitive contract. An agreement exists between two counterparties, a buyer and a seller. Most often these contracts are considered insurance since a premium is involved. And I used considered lightly because they are not an insurance product. So here is the breakdown.

Buyer makes a series of payments to seller in exchange, receives a payoff if a company credit instrument (bond, loan) goes into default. If there is no default and the credit rating holds the buyer loses the money he has paid. If there is a default the buyer gets paid whatever the basis points were on the contract.

Example: Buy 2 year contract on Citigroup for up to 1MM in protection. 50 basis points.
Buyer pays $50,000 a year until expiration.

Default happens, buyer gets 1MM.
Default doesn't happen, buyer loses $100,000

Reasons for doing something like this would be #1, Speculation. #2, Hedging. Now there are other strategies that goes along with this instruments but that's for another day as they are quite involves and sometimes difficult to understand. Especially for you beginner's. Credit default swaps are however the #1 traded derivitive.

Sunday, March 08, 2009

Weekend Reading

Nyc was abuzz this weekend, temps in the 60's. Everyone walking around taking it in. Old Man Winter whupped that ass so the people were thirsty for a warm day. It was nice. Ready for Spring?


When Big Resumes Chase Small Jobs
(WSJ)

Hybrids losing value too, with gas normal now.
(USAToday)

This guy hates facebook as much as me.
(Weekly Standard)

Obama extending the olive branch to Cuba.
(Guardian UK)

Friday, March 06, 2009

Americana

A train trip across the country? I'm, in. Sound cool. Mildly boring but cool.

Afternoon Reading

My first question is how much is this costing? My second question is if it's more than 50 million can't it wait? My third question is, does anyone really care if another life form exists outside of or planet?
(cnn.com)

Time waxes poetic on nationalization of banks.
(Time)

Obama, the most prolific orator of our time. Funny.
(Politico.com)

Your early Summer 09 Blockbusters.
(Variety.com)

Luxury stadiums seemed like a good idea.
(WSJ)

Mango Salsa

Bronchitis is a good diet.

The best diet however is a toothache or any kind of oral surgery (wisdom teeth, root canal, extraction, etc.)

I love how the old guy is talking about the Chris Brown/Rihanna thing like he's up on it. Settle down old guy. You can be hip if you want to.

30 Rock is the only network show I watch. I do watch Office re-runs though.

Twitter is some weird shit but I'm on it if anyone cares.

Apollo 13 is a very good movie. Kings of Queens makes me laugh and the Price is Right is just not the same since Bob left. Just clearing up some sick TV viewing.

I can smell the grass in the outfield.....baseball is upon us.

I was thinking if I went totally gray I'm just gonna rock it. Fuck hair dye. Shit looks unnatural and harmful.

Nerds. Bumpy. Jelly. Beans.

Wednesday, March 04, 2009

Guido Beach

Wow. Guido's. Entertainment, entertainment, entertainment.



(via Barstoolsports.com)

The F in Fugly

Ugliest pussy I've ever seen.

Tuesday, March 03, 2009

A Legend in Slovenia

Let me see Bear Gryills or Les Miles think of some shit like this.

Jesus? Jesus is that you!

A Slovak man trapped in his car under an avalanche freed himself by drinking 60 bottles of beer and urinating on the snow to melt it. Rescue teams found Richard Kral drunk and staggering along a mountain path four days after his Audi car was buried in the Slovak Tatra mountains.

He told them that after the avalanche, he had opened his car window and tried to dig his way out. But as he dug with his hands, he realised the snow would fill his car before he managed to break through. He had 60 half-litre bottles of beer in his car as he was going on holiday, and after cracking one open to think about the problem he realised he could urinate on the snow to melt it, local media reported. He said: “I was scooping the snow from above me and packing it down below the window, and then I peed on it to melt it. It was hard and now my kidneys and liver hurt. But I’m glad the beer I took on holiday turned out to be useful and I managed to get out of there.”

(hat tip to CajunBoy for the link via outsidethebeltway.com)

Mornin' Links

I'm home sick. Really really sick but I am perusing the web and updating the site today. That's called boredom. Here are the morning links I've scooped.

Even 529 college plans have taking a hit.
(Bloomberg)

Another reason not to go to the movies, I'll be honest. Theater chains cannot like all this technology that allows viewers and potential customers to stay at home and watch the best movies.
(CNET)

BOFA head guy Kenneth Lewis owning up to a "tactical error". One day I'll wax poetic on all this stuff. No energy right now.
(FT.com)

This warms my heart. Not only do I think Global Warming is bullshit but all of the champions of the initiative are intolerable.
(FoxNews.com)

Come on man. Samoa's are totally worth a real $20. Someone is going to hell.
(MSN.com)

Monday, March 02, 2009

Monopoly Movie?

Monopoly movie? Really?

Unbelievable ass whipping of a 15 year old. Sad.

I really don't know what to say here. I mean there is police brutality and then there is this. It's obvious this guy needs to die. If this happens in my family, lights out. There is no way this guy would still be walking properly.
VIA Seattle Times


NyQuil please

I have a massive cold. Hot, cold, feverish, chest, nose, throat. It's from that little rodent mexican kid krooping on the N train the other day. He's infested me with The Aztec Whopping cough. Little bastard.

Mornin' reads

Woe is me.
(CNN.com)

Mary Jane available in 13 states, DEA will stop fucking wit you.
(MSNBC.com)

Rush Limbaugh is under the Dems skin. Again.
(Chicago Tribune)

Mel Gibson is channeling Col. Sanders.
(/Film.com)

He comes in peace.
(Telegraph.com)

Marine One blueprints found in IRAN.
(Drudge)

Top ten Bball sneakers.
(Gunaxin.com)