Archive for July 21st, 2010

Dead files for 20-27 July 2010

Wednesday, July 21st, 2010

21 Jul -

Pipeline explosion in China. Your occasionally cynical blogger is wanting to know who/what caused the explosion. It does so help to distract from Chinese ratings agencies junking America.

http://news.yahoo.com/s/ap/20100721/ap_on_bi_ge/as_china_pipeline_explosion

=================

21 Jul -

Firefighter dies after marrying tranny bride. Is this finance-related? Not much, but it is salacious.

http://www.chron.com/disp/story.mpl/headline/metro/7114026.html

The Dodd-Frank financial ‘reform’ bill

Wednesday, July 21st, 2010

Full story here.

…Additionally it appears that we now have “financial reform” via the “Dodd-Frank” bill. I personally do not think this accomplishes anything for the economy – it consolidates power in the wrong hands while failing to address current debt levels, derivatives, and the GSEs. The market does not appear to know how to digest it – there are many discretionary powers and delayed timelines so it is difficult, if not impossible, to know all the ramifications in advance. I was recently interviewed by a European publication regarding this bill, below are their questions and my responses:
(more…)

Economy will return to pre-Dec ‘07 levels in…2021!

Wednesday, July 21st, 2010

Full story here from ZeroHedge. Totally random humorous interlude #407 and #408.

Even as Bernanke is receiving his last minute briefing on what to say (everything, EVERYTHING, is good) and what to play dumb on (explaining the price of gold for example), a new report by the Center for Economic and Policy Research concludes that digging ourselves out of the current unemployment hole, which is 7.5 million less people having jobs than did in December 2007, will take at least 4 years, and not occur prior to March 2014. (more…)

Scum-dog billionaire

Wednesday, July 21st, 2010

Who says money can’t buy you happiness, or at least get you out of the slammer that is, if your thing is doing it with underage girls.

Hedge fund mogul Jeffrey Epstein becomes a free man today, five years after he was first accused of sexually abusing underage girls. After months of reporting, The Daily Beast’s Conchita Sarnoff reveals exclusive details of the investigation and the legal wrangling that saved him from a long prison term. She reports: (more…)