Archive for November, 2010

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Wither Microsoft?

Sunday, November 7th, 2010

OK, last week Bill Gates sold off a bunch of MS stock. Now I see Steve Ballmer sells $1.3 billion in shares.

So is this just some end of year profit taking, or something more dire?

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Bank of America edges closer to tipping point

Saturday, November 6th, 2010

Full story here from Bloomberg.

It was only last April that Bank of America Corp. was making fools out of the doomsayers who had called for its nationalization a year earlier. Taxpayers had gotten their bailout cash back. Investors who bought its shares at the bottom were making a killing. Government leaders lauded the company’s rescues, both of them, as a great success.

Now the bank may be on the verge of trouble again. Its stock has fallen 41 percent since April 15. Mortgage-bond investors are demanding untold billions of dollars in refunds. The foreclosure fiasco is metastasizing. A member of the Troubled Asset Relief Program’s oversight panel, AFL-CIO attorney Damon Silvers, openly worried at a hearing last week about the risk that Bank of America might need another bailout. (more…)

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The Fed may go bankrupt

Friday, November 5th, 2010

Full story here from Jim Rickards. Of course, the Fed is already morally bankrupt and acting like a bunch of clown-ass gangstas. What will really be the pants-downer moment that makes all the sheeple realize what’s happening? Janis Joplin has the answer.

Disasters sometimes sneak up in small steps, each of which appears unthreatening at the time but which cumulatively spell collapse.  The Fed is leading the United States to ruin in ways that are claimed to be well intentioned and benign viewed in isolation but which take us finally into a locked room reminiscent of the Sartre play “No Exit.” (more…)

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False Flag week continues

Friday, November 5th, 2010

Not content with ink cartridge-wielding jihadis? Random shots at the Pentagon not your cup of tea?

How about a “drill” with a shooter at NASA?

Reports of a gunman on the loose at a sprawling NASA facility were part of a drill, officials told NBC News on Friday. (more…)

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Another Nobel Economist Says We Have to Prosecute Fraud Or Else the Economy Won’t Recover

Thursday, November 4th, 2010

Full story here from ZeroHedge.

→ Washington’s Blog

As economists such as William Black and James Galbraith have repeatedly said, we cannot solve the economic crisis unless we throw the criminals who committed fraud in jail.

And Nobel prize winning economist George Akerlof has demonstrated that failure to punish white collar criminals – and instead bailing them out- creates incentives for more economic crimes and further destruction of the economy in the future. See this, this and this. (more…)

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QE2 Gangsta-land

Thursday, November 4th, 2010

Full story here from ZeroHedge.

Yesterday’s Ben Bernanke penned an Op-Ed in which he essentially said: “I am doing whatever I interpret my mandate to be, which right now means only thing: Dow 36,000. I am only accountable to the private bank that is the Federal Reserve, a few Wall Street CEOs, and no one else. Congress has no power over me. Try to stop me.” (more…)

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Silver breaks out from price manipulation

Thursday, November 4th, 2010

The latest from Jim Willie.

A love affair with silver is so natural. The fundamentals are astoundingly positive and bullish in price prospects. My basic argument has been repeated many times. Industry has countless uses for silver, significant demand. But industry has only miniscule isolated uses for gold, in trivial demand. So silver wins on the Demand side of the equation. Central banks own a huge amount of gold. They frequently sell it, even through their slippery surrogate the Intl Monetary Fund. Central banks own zero silver. So silver wins on the Supply side of the equation. (more…)

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Debt collector fraud

Thursday, November 4th, 2010

Full story here.

A northwestern Pennsylvania debt collector has agreed to cease collection tactics the state says included a sham courtroom where customers would be summoned.

Unicredit America Inc. agreed Tuesday to stop sending letters to consumers threatening them with arrest if they failed to respond. Erie County Judge Michael Dunlavey also ordered the mock courtroom torn down within 30 days.

The state attorney general’s office says Unicredit used people appearing to be sheriff’s deputies to deliver hearing notices to consumers and used fake court proceedings to get money from them. Authorities say a person dressed in black would preside from behind a raised bench at the front of the room.

The state has also filed a civil suit against Unicredit alleging unfair trade practices. That suit seeks civil penalties for hundreds of affected consumers.

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RICO suit filed against JPMorgan and HSBC on silver manipulation

Wednesday, November 3rd, 2010

Full story here from ZeroHedge. Will the double fisted alien dong of justice finally punish serial evildoers? The Shadow knows…

If JPM and HSBC hoped that the lawsuits filed a week ago by Brian Beatty and Peter Laskari, which we discussed previously, were going to be the end of their public exposure with regard to possible silver market manipulation, they are about to be disappointed. Today, in a separate lawsuit filed by Carl Loeb in the Southern District of New York, a new light on precious manipulation by the duo was shone, this time involving allegations of breach of the Racketeering Influenced and Corrupt Organizations (RICO) Act. And with the CFTC itself admitting of ongoing manipulation in the silver market, it appears this issue is not going to go away quietly any time soon. (more…)

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QE2 unveiled a/k/a Return of the Night of the Living Zombie Bankers

Wednesday, November 3rd, 2010

Full story here from ZeroHedge.

For immediate release

Information received since the Federal Open Market Committee met in September confirms that the pace of recovery in output and employment continues to be slow. Household spending is increasing gradually, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software is rising, though less rapidly than earlier in the year, while investment in nonresidential structures continues to be weak. Employers remain reluctant to add to payrolls. Housing starts continue to be depressed. Longer-term inflation expectations have remained stable, but measures of underlying inflation have trended lower in recent quarters. (more…)

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