Meinen Herren Waldorf und Statler,
Ich habe eine Frage bitte: Was ist das Wort für “WTF” auf deutsch?!?!
Nope, no they don’t. I was just trying to get your attention really. It’s actually a pretty stupid idea, but by now you guys are so numb from the stupidity buffer overflow that you didn’t notice.
Well, it seems that the Dutch want to start regulating banking by ensuring that people who work on banks pass some test or something…anyway, as i said it’s so stupid that it has that self-explanatory quality that only stupid ideas have. Veel Geluk!
By now a lot of you my dear readers are looking at the world developments and thinking that you could run a good ponzi scheme if only for that little bitty rule that says that all money going back 6 years should be returned. All.
Well we may have found a loophole!!! Crowds of prospective ponziers are waiting the court decision to see if the wife of R.A.Stanford can unfreeze her half of the fortune, which was awarded in their divorce settlement. So you all know the drill.
Marry someone, divorce them, give them half of your ponzimongous loot, repeat every 6 years, end when caught by SEC.
OK. This guy either has 10 kilo balls of steel or is just bat-shit crazy. Probably both if you ask me. Plus the explanation is just so richly layered, a sweet combo pack of social justice with a little bit of “jump or get off the bridge cause i am late for work” shit.
That’s it. I am shutting down, facebook, twitter, the works. I can’t afford for them to find me, ever.
PS i love how the mom, jumps on the opportunity to diss the boyfriend. Her little princess could never even think about doing such a thing. Classic!!!
We have been long been arguing up here on the Balcony that the current crisis is one of excess liquidity and excess leverage and so far the measures that have been taken are even more debt issued and more liquidity pumped in…
The risk of such a tactic is naturally hyper-inflation and not necessarily deflation as many fear. So personally I fully agree with Mr Faber’s view. It remains to be seen.
I have often wondered what would one of our great great ancestors think if he could have been transported to today’s world. Surely he would have been puzzled by the technological advances (Apple’s ipod shuffle being my personal favourite as a music afficionado!!) and amazed by the sheer magnitude of today’s world statistics.
But what would have he made about this? They make it sound literally like piece of piss… Perhaps then the answer to global food shortages is shit recycling!! Well, at least there’s plenty of that around nowadays…
During this unprecedented crisis, in which we have landed ourselves by overstretching our debt load, a number of us are looking for ways out of the debt hole we dug. Most solutions include finding ways to cut debt.
Correct you say!!! Not so fast. Some consider this to be the wrong solution to our problems. What is clearly needed is to reach out and get as much debt as possible. Here’s some choice quotes from the article.
"From a funding standpoint, 2009 is already done," said CEO J.Immelt as he announced that within a few month he intends to finish up with the 2010 debt target and get started with 2011. His team is working around the clock to finish up on 2011 and get some of 2012 done before 2009 is up. No plans were announced on the earnings side of the equation.
Following a stressful day of number-crunching, it seems we are now down to the second round, that of face-punching! For it seems that all hell has finally broken loose in the once-prestigious Wall Street, which is dubbed in the article as “Screw-Up Street”.
Watch this space, i sense there’s more coming…
Let’s take a breather for a second and do a little PR to our trillions of Readers (MtM)…
I noticed today that even our favourite publication, the Economist, is piggy-backing The Balcony in a vain attempt to lure our Readers. Well, it’s not gonna work… The Balcony is a pioneer in exposing the financial shenanigans of the human race on a global scale, accompanied with music, films and as my dear Waldorf once said, a sprinkle of WTF!!
Our dear Readers, you ‘re in the right place!
I was gonna write a little song and dance on the whole bank-stress-test-oscar-winning-extravaganza show, but then i thought otherwise. You see, why not leave it to the guys who started this thing to tell their own story…
And the winner is…Only 10 banks need to raise capital and only 75bn of it!!!
75bn is a nice number. By now you guys are numb enough from the TARPnaisthisia to not really feel the pain so here’s some comp shots.
75 = 10 more than Madoff made off with
75 = 13 more than AIG lost by itself last quarter (and 35 more than it received in Fed funding in order to have the privilege to report this quarter)
75 = 70 more than AIG lost this quarter (without the 30 option payment to get to today) and last, just to list a non-negative one…
75 is a little over a third of what AIG has gotten in funding so far in order to stay alive and keep losing money, so i think we got some room to grow here
PS you know that the recession is over when the numbers thrown around fail miserably to impress anyone
You know, literally hundreds no thousands of you loyal
subjects readers keep asking us what were we thinking when SFP took the photo of Statler and me (the one that you see on the left) that sweet sweet combo pack of amusement, bewilderment, loss for words, anger that we belong to them same species topped with just a sprinkle of WTF.
Well, many moments come to mind, but another one came just recently while reading this article. Now, it’s not just the article, but the quote 'The big shock came when I got fired', the supposed agreement of the parents, the fact that these were children of colleagues and many finer points throughout this piece that just bring this thing together. That’s the juice right there.