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OT - Is your city out of fuel?
Three days ago Galveston's refineries went through Hurricane Ike and we
lost a few oil platforms. Today, Charleston's gas stations are "out of gas" to fill the cars.....or are telling their customers they are out of gas, when they're not. I can say that because I just saw a guy headed out to the tanks of a local gas station near my home, after dark, so I swung around on the scooter and parked in the lot across the street to watch him. There are plastic bags covering all the pumps and they've taken down the prices from the sign, turning out the lights. He dipped that long measuring stick down into 5 tanks full of fuel. The damned SOBs are trying to pull the same **** they did in 1973 all over again......closing full gas stations to get that price up over $5, 6, 7 or $10/gallon. Is your city out of fuel, too? I got a new law. Any gas station closed is to be inspected for fuel storage. Any station found with fuel and closed has its business license revoked. Any COMPANY owned station found with fuel has ALL the company owned stations in the city's license revoked. *******s.... Lehman Brothers Holdings went bankrupt, today, another scam on investors. Tonight their stock is worth 19c/share down from $67 this year. Isn't it amazing how Wall Street can simply make billions vanish in a day. Set up the gallows. I'll pull the first levers. |
OT - Is your city out of fuel?
"Larry" wrote in message ... Lehman Brothers Holdings went bankrupt, today, another scam on investors. Tonight their stock is worth 19c/share down from $67 this year. Isn't it amazing how Wall Street can simply make billions vanish in a day. Set up the gallows. I'll pull the first levers. That should put a lot of luxury yachts, penthouse apartments, and cars on the market. These *******s have been paying themselves too much for too long, using your money, now their chickens are coming home to roost with a vengeance. Dennis. |
OT - Is your city out of fuel?
"Dennis Pogson" wrote
now their chickens are coming home to roost with a vengeance. Chickens are the most brutally vindictive of all poultry... |
OT - Is your city out of fuel?
In article ,
"Dennis Pogson" wrote: "Larry" wrote in message ... Lehman Brothers Holdings went bankrupt, today, another scam on investors. Tonight their stock is worth 19c/share down from $67 this year. Isn't it amazing how Wall Street can simply make billions vanish in a day. Set up the gallows. I'll pull the first levers. That should put a lot of luxury yachts, penthouse apartments, and cars on the market. These *******s have been paying themselves too much for too long, using your money, now their chickens are coming home to roost with a vengeance. and no-one will be brought to book for this debacle. *Someone* dreamed up this sub-prime crap, and with some forensic accountancy, they can be found, but it won't be done because it will tread on too many toes. -- Molesworth -- http://www.stcustards.free-online.co.uk/ |
OT - Is your city out of fuel?
On 16 Sep 2008 10:30:05 -0500, Dave wrote:
*Someone* dreamed up this sub-prime crap, and with some forensic accountancy, they can be found, but it won't be done because it will tread on too many toes. Sub-prime was dreamed up because there was only just so much legitimate mortgage debt to go around. The whole business of packaging debt and then selling/securitizing it via bonds was highly profitable while the fun lasted. Even more profitable was borrowing money at very low interest rates and using the funds to buy high yield bonds. The profits were limited only by your ability to borrow and the availability of high yield investments. Sub-prime was invented to meet that demand. It was clear to me 5 years ago that the bond holders would eventually be left holding the bag just like the Savings and Loan industry was caught out back in the 80s. What wasn't clear to me was that the financial industry had drunk a lot of their own toxic Kool Aid and would end up being the ultimate bag holders. |
OT - Is your city out of fuel?
On Sep 16, 10:26*am, Wayne.B wrote:
.... Sub-prime was dreamed up because there was only just so much legitimate mortgage debt to go around. * The whole business of packaging debt and then selling/securitizing it via bonds was highly profitable while the fun lasted. *... If you need one person to blame it is Alan Greenspan. But, at a macro scale I think sub-prime was a symptom rather than the root problem. The problem writ large is that real wages haven't kept pace with industrial growth. The distance between what consumers can afford and what producers need to sell has every increasingly been bridged with consumer credit. As traditional credit sources backed by well understood collateral were used up "innovative" lines of credit, like sub-prime and many new "derivatives", were created to support a "healthy" growth rate. Rules that were put in place in the last great consumer credit crunch have been loosened all around to maintain liquidity. The result is that this correction comes with an unprecedented amount of leverage. The scale and depth of this crisis is daunting but it is fundamentally a question of balancing consumption and production. Blaming greed is like blaming gravity; they're just part of the structure of the world and they are with us always in good times and bad. -- Tom. |
OT - Is your city out of fuel?
On Sep 16, 11:38 am, Dave wrote:
On Tue, 16 Sep 2008 11:26:06 -0700 (PDT), " said: Rules that were put in place in the last great consumer credit crunch have been loosened all around to maintain liquidity What rules were those? Rules like my rule against posting off topic! :( My apologies to the group and I'll let you have the last word, Dave. My thesis is that banking deregulation, securities deregulation and insurance deregulation have been driven by the need to expand consumer credit. Many of those regulations that were loosened were legacies of the Great Depression and included collateralization requirements for banks and insurers, strict separation banking and securities services and book keeping among others. Gory detail is available to a Google user and there's some general discussion he http://en.wikipedia.org/wiki/Deregulation. -- Tom. |
OT - Is your city out of fuel?
Wayne.B wrote:
On 16 Sep 2008 10:30:05 -0500, Dave wrote: *Someone* dreamed up this sub-prime crap, and with some forensic accountancy, they can be found, but it won't be done because it will tread on too many toes. Sub-prime was dreamed up because there was only just so much legitimate mortgage debt to go around. The whole business of packaging debt and then selling/securitizing it via bonds was highly profitable while the fun lasted. Even more profitable was borrowing money at very low interest rates and using the funds to buy high yield bonds. The profits were limited only by your ability to borrow and the availability of high yield investments. Sub-prime was invented to meet that demand. It was clear to me 5 years ago that the bond holders would eventually be left holding the bag just like the Savings and Loan industry was caught out back in the 80s. What wasn't clear to me was that the financial industry had drunk a lot of their own toxic Kool Aid and would end up being the ultimate bag holders. For years people have been whining that they couldn't buy houses because they didn't have good enough jobs, if they had jobs at all. So credit requirements were loosened and loosened by our illustrious govmint so ALL could buy houses. So much for socialism. Gordon |
OT - Is your city out of fuel?
On Tue, 16 Sep 2008 16:00:44 -0700, Gordon wrote:
For years people have been whining that they couldn't buy houses because they didn't have good enough jobs, if they had jobs at all. So credit requirements were loosened and loosened by our illustrious govmint so ALL could buy houses. So much for socialism. The government does not set credit standards for lending, at least not in the US. |
OT - Is your city out of fuel?
On 16 Sep 2008 16:27:02 -0500, Dave wrote:
On Tue, 16 Sep 2008 17:13:48 -0400, Gogarty said: How do you say "Glass/Steagall?" Outmoded? No longer relevant to the modern world? Ha! Please explain how repeal of Glass-Steagall is responsible in any way for the current mortgage problems. While not the whole answer, repeal of G-S allowed mortgage origination and bond underwriting to live under the same corporate umbrella which created incentives to originate more mortgages. |
OT - Is your city out of fuel?
"Dave" wrote in message
... On Tue, 16 Sep 2008 17:13:48 -0400, Gogarty said: How do you say "Glass/Steagall?" Outmoded? No longer relevant to the modern world? Ha! Please explain how repeal of Glass-Steagall is responsible in any way for the current mortgage problems. First or Second Act? There's probably no direct linkage, but as I recall, they were interested in protecting the economy from speculation that resulted from large commercial banks collapsing. I'm thinking second, since the first was more about insuring deposits... again, all recollection, so I could have it backwards. -- "j" ganz @@ www.sailnow.com |
OT - Is your city out of fuel?
"Wayne.B" wrote in message
... On Tue, 16 Sep 2008 16:00:44 -0700, Gordon wrote: For years people have been whining that they couldn't buy houses because they didn't have good enough jobs, if they had jobs at all. So credit requirements were loosened and loosened by our illustrious govmint so ALL could buy houses. So much for socialism. The government does not set credit standards for lending, at least not in the US. Yep, this was good ole market forces at work. This is *why* we need more regulation. -- "j" ganz @@ www.sailnow.com |
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On Wed, 17 Sep 2008 01:37:54 +0000, Larry wrote:
" wrote in news:0f11fc22-11da-4d07- : The distance between what consumers can afford and what producers need to sell has every increasingly been bridged with consumer credit. I've been watching the hyping of the Chevrolet Volt electric car due in 2010. GM bureaucrats, who killed the EV1 everyone loved because the dealers pitched a fit over its high quality leaving them little service pots, actually think Americans are going to pay OVER $30,000 for a car that will go 40 miles a day on a battery pack that costs $12,000 TO REPLACE! What's wrong with them? Americans won't buy that crap! Why not? They've been buying Chevrolet crap for years. |
OT - Is your city out of fuel?
"Dave" wrote in message
... On Tue, 16 Sep 2008 16:32:27 -0700, "Capt. JG" said: First or Second Act? Those of us who don't have to Google it refer to only one law as the Glass-Steagall Act. There's probably no direct linkage, but as I recall, they were interested in protecting the economy from speculation that resulted from large commercial banks collapsing. I'm thinking second, since the first was more about insuring deposits... again, all recollection, so I could have it backwards. I think this is one you ought to leave to others. Really. I didn't know you were the expert in all things financial. You and George make quite a pair! I mean McCain or Carly. Sorry. -- "j" ganz @@ www.sailnow.com |
OT - Is your city out of fuel?
"Dave" wrote in message
... On Tue, 16 Sep 2008 16:38:19 -0700, "Capt. JG" said: Yep, this was good ole market forces at work. This is *why* we need more regulation. I deal with bank regulators, both federal and State, all the time, Jon. Believe me, you don't want those people running banks any more than they do now. They could not make things worse. The market by itself will correct, but as we've seen in every situation when that's been tried, horrible consequences. This, of course, is the neo-con wet-dream.... an unfettered market. They almost got Pinochet to do it, tried in Poland and Russia, but those pesky people just wouldn't cut off their noses to spite their faces. -- "j" ganz @@ www.sailnow.com |
OT - Is your city out of fuel?
"Dave" wrote in message
... On Tue, 16 Sep 2008 16:00:44 -0700, Gordon said: So credit requirements were loosened and loosened by our illustrious govmint so ALL could buy houses. So much for socialism. Give the man an E for effort. The gummint doesn't set credit requirements for mortgagors, Gordon. Mortgage lenders and those to whom they sell the mortgages set those requirements. Therefore, according to Dave, we should remove even more regulation! I get it! -- "j" ganz @@ www.sailnow.com |
OT - Is your city out of fuel?
"Larry" wrote in message
... As with every recession and depression since 1913, all this lays at the feet of the seat of real power in the USA....The Federal Reserve Private Secret Bank Corporation shhh... ok, now you're out of the club. -- "j" ganz @@ www.sailnow.com |
OT - Is your city out of fuel?
"Dave" wrote in message
... On Tue, 16 Sep 2008 20:00:49 -0700, "Capt. JG" said: Really. I didn't know you were the expert in all things financial. Let's just say I know a few things about banks and their regulation A few things? Sort of like Palin? You're close to the regulators... just down the street! LOL -- "j" ganz @@ www.sailnow.com |
OT - Is your city out of fuel?
"Dave" wrote in message
... On Wed, 17 Sep 2008 09:12:22 -0700, "Capt. JG" said: Really. I didn't know you were the expert in all things financial. Let's just say I know a few things about banks and their regulation A few things? Sort of like Palin? You're close to the regulators... just down the street! LOL No, Jon. Often my job requires me to educate the bank regulators and point out to them the error of their ways. Perhaps you should tell them to let market forces do their work! LOL -- "j" ganz @@ www.sailnow.com |
OT - Is your city out of fuel?
"Dave" wrote in message
... On Wed, 17 Sep 2008 11:31:05 -0700, "Capt. JG" said: No, Jon. Often my job requires me to educate the bank regulators and point out to them the error of their ways. Perhaps you should tell them to let market forces do their work! Sad thing is that both of the major party candidates are loudly shouting "I'm gonna do something about it when I get elected" and neither of them has a clue as to what to do, or even what the problem is. Obama has a clue. McCain relies on his wife to read/send his email. I wonder if that'll be true when/if he gets elected. -- "j" ganz @@ www.sailnow.com |
OT - Is your city out of fuel?
On 17 Sep 2008 17:27:03 -0500, Dave wrote:
On Wed, 17 Sep 2008 13:50:02 -0700, "Capt. JG" said: McCain relies on his wife to read/send his email. I wonder if that'll be true when/if he gets elected. That talking point may not be a wise one to dwell on, Jon. I suspect there are a fair number of voters who are potential customers for that Video Purrfesser program, and who won't appreciate it. Yeah, he wouldn't want to offend the knuckle-dragging, mouth-breather vote! |
OT - Is your city out of fuel?
Dave wrote:
On Wed, 17 Sep 2008 11:31:05 -0700, "Capt. JG" said: No, Jon. Often my job requires me to educate the bank regulators and point out to them the error of their ways. Perhaps you should tell them to let market forces do their work! Sad thing is that both of the major party candidates are loudly shouting "I'm gonna do something about it when I get elected" and neither of them has a clue as to what to do, or even what the problem is. Well, neither did President Bush - today... So, that's what they meant by, "not with a bang, but a whimper"... -- Richard (remove the X to email) |
OT - Is your city out of fuel?
wrote in message
... On 17 Sep 2008 17:27:03 -0500, Dave wrote: On Wed, 17 Sep 2008 13:50:02 -0700, "Capt. JG" said: McCain relies on his wife to read/send his email. I wonder if that'll be true when/if he gets elected. That talking point may not be a wise one to dwell on, Jon. I suspect there are a fair number of voters who are potential customers for that Video Purrfesser program, and who won't appreciate it. Yeah, he wouldn't want to offend the knuckle-dragging, mouth-breather vote! At least McCain clings to his wife's money and houses. -- "j" ganz @@ www.sailnow.com |
OT - Is your city out of fuel?
"Dave" wrote in message
... On Wed, 17 Sep 2008 19:07:44 -0500, cavelamb himself said: Sad thing is that both of the major party candidates are loudly shouting "I'm gonna do something about it when I get elected" and neither of them has a clue as to what to do, or even what the problem is. Well, neither did President Bush - today... Hate to disillusion you, but he's not on the ballot this time. (You'd never know it, of course, by listening to the Dems' talking points.) Yes he is. His clone is called John McCain. -- "j" ganz @@ www.sailnow.com |
OT - Is your city out of fuel?
On Sep 16, 11:26*am, " wrote:
On Sep 16, 10:26*am, Wayne.B wrote: ... Sub-prime was dreamed up because there was only just so much legitimate mortgage debt to go around. * The whole business of packaging debt and then selling/securitizing it via bonds was highly profitable while the fun lasted. *... If you need one person to blame it is Alan Greenspan. But, at a macro scale I think sub-prime was a symptom rather than the root problem. The problem writ large is that real wages haven't kept pace with industrial growth. ,,, With apologies I wanted to add this note from Newsweek: http://www.newsweek.com/id/159346/page/1 -- Tom. |
OT - Is your city out of fuel?
On 17 Sep 2008 21:07:17 -0500, Dave wrote:
On Wed, 17 Sep 2008 19:07:44 -0500, cavelamb himself said: Sad thing is that both of the major party candidates are loudly shouting "I'm gonna do something about it when I get elected" and neither of them has a clue as to what to do, or even what the problem is. Well, neither did President Bush - today... Hate to disillusion you, but he's not on the ballot this time. What difference does that make? It's his job NOW and he has no idea what to do. So much for "experience" being important. He's been president longer than both of the other candidates combined. Must be time for another reading of "My Pet Goat". |
OT - Is your city out of fuel?
"Dave" wrote in message
... On Wed, 17 Sep 2008 19:20:14 -0700, "Capt. JG" said: Well, neither did President Bush - today... Hate to disillusion you, but he's not on the ballot this time. (You'd never know it, of course, by listening to the Dems' talking points.) Yes he is. His clone is called John McCain. Q.E.D. My error. It's Sarah Palin. I apologize. -- "j" ganz @@ www.sailnow.com |
OT - Is your city out of fuel?
If you really want to know... his is exactly why I think the ship is about to hit the rocks at warp speed. The elections are 6 weeks or so away, so it must be really rank. Bubble gum, hay wire, and racer tape should have been enough to keep the grift going until November 5th [day after the election]. One of the candidates has just suggested he wants a commission to study the problem. One study has just been completed and the 182 page report is available for free download at http://www.iif.com/download.php?id=Osk8Cwl08yw= |
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cavelamb himself wrote in
m: If you really want to know... his is exactly why I think the ship is about to hit the rocks at warp speed. The elections are 6 weeks or so away, so it must be really rank. Bubble gum, hay wire, and racer tape should have been enough to keep the grift going until November 5th [day after the election]. One of the candidates has just suggested he wants a commission to study the problem. One study has just been completed and the 182 page report is available for free download at http://www.iif.com/download.php?id=Osk8Cwl08yw= You guys keep talking like its the PRESIDENT who makes the decisions and leads his party around by the nose. I think you have it all wrong..... I think ANY president is being DIRECTED on how to act and what to do by the major interests that run the country such as: Council On Foreign Relations Bilderberger Group Trilateral Commission Federal Reserve Bankers The various cults every one of them from every party must belong to in order to be considered for the job: Illuminati Freemasons Skull & Bones at Yale Bohemian Society in N California etc., etc. Every one of them but Kennedy are 'brothers'.... Kennedy didn't belong, an anomoly "they" corrected with Lyndon Banes Johnson, 32nd Degree.....on the 32nd parallel at the site of the original Texas Grand Lodge..................................a coincidence? (Locate old aerial photos of Dealey Plaza and you'll note EXACTLY East of the exact spot Kennedy was assinated, across the lawn to port of the car, is the Freemason's mark, the Phallus of Osirus, a miniature of the Washinton Monument at World Headquarters...........a coincidence or a MESSAGE to the rest of them? Presidents don't run America. The men behind the curtain pulling the strings run America. Unfortunately for America, way too many of them also have dual citizenship with Israel..... Which flag do they salute? Whos orders do they follow? Those are the important questions. Acting stupid is part of the facade.... None of this can be JUST coincidence....for over a hundred years. |
OT - Is your city out of fuel?
On Thu, 18 Sep 2008 18:39:13 +0000, Larry wrote:
cavelamb himself wrote in om: If you really want to know... his is exactly why I think the ship is about to hit the rocks at warp speed. The elections are 6 weeks or so away, so it must be really rank. Bubble gum, hay wire, and racer tape should have been enough to keep the grift going until November 5th [day after the election]. One of the candidates has just suggested he wants a commission to study the problem. One study has just been completed and the 182 page report is available for free download at http://www.iif.com/download.php?id=Osk8Cwl08yw= You guys keep talking like its the PRESIDENT who makes the decisions and leads his party around by the nose. I think you have it all wrong..... I think ANY president is being DIRECTED on how to act and what to do by the major interests that run the country such as: Council On Foreign Relations Bilderberger Group Trilateral Commission Federal Reserve Bankers The various cults every one of them from every party must belong to in order to be considered for the job: Illuminati Freemasons Skull & Bones at Yale Bohemian Society in N California etc., etc. Every one of them but Kennedy are 'brothers'.... If you connect the dots you'll discover that Kennedy was controlled by Dunkin Donuts - Eclair Division. --Vic |
OT - Is your city out of fuel?
wrote in message
... On Thu, 18 Sep 2008 11:35:00 -0500, cavelamb himself wrote: wrote: On Thu, 18 Sep 2008 11:23:48 -0500, cavelamb himself wrote: One of the candidates has just suggested he wants a commission to study the problem. This is standard practice for how Wasington insiders do things. Appoint a commision and issue a report. This allows you to prove you are doing something withut actually doing something. READ the report, dog. I wasn't commenting on the report, Lambchop. Do you guys need to get a room? LOL -- "j" ganz @@ www.sailnow.com |
OT - Is your city out of fuel?
"Vic Smith" wrote in message
... On Thu, 18 Sep 2008 18:39:13 +0000, Larry wrote: cavelamb himself wrote in news:rPqdnSSlyYcBHU_VnZ2dnUVZ_uudnZ2d@earthlink. com: If you really want to know... his is exactly why I think the ship is about to hit the rocks at warp speed. The elections are 6 weeks or so away, so it must be really rank. Bubble gum, hay wire, and racer tape should have been enough to keep the grift going until November 5th [day after the election]. One of the candidates has just suggested he wants a commission to study the problem. One study has just been completed and the 182 page report is available for free download at http://www.iif.com/download.php?id=Osk8Cwl08yw= You guys keep talking like its the PRESIDENT who makes the decisions and leads his party around by the nose. I think you have it all wrong..... I think ANY president is being DIRECTED on how to act and what to do by the major interests that run the country such as: Council On Foreign Relations Bilderberger Group Trilateral Commission Federal Reserve Bankers The various cults every one of them from every party must belong to in order to be considered for the job: Illuminati Freemasons Skull & Bones at Yale Bohemian Society in N California etc., etc. Every one of them but Kennedy are 'brothers'.... If you connect the dots you'll discover that Kennedy was controlled by Dunkin Donuts - Eclair Division. --Vic Now that's funny! -- "j" ganz @@ www.sailnow.com |
OT - Is your city out of fuel?
On Wed, 17 Sep 2008 17:23:02 -0700, "Capt. JG"
wrote: wrote in message .. . On 17 Sep 2008 17:27:03 -0500, Dave wrote: On Wed, 17 Sep 2008 13:50:02 -0700, "Capt. JG" said: McCain relies on his wife to read/send his email. I wonder if that'll be true when/if he gets elected. That talking point may not be a wise one to dwell on, Jon. I suspect there are a fair number of voters who are potential customers for that Video Purrfesser program, and who won't appreciate it. Yeah, he wouldn't want to offend the knuckle-dragging, mouth-breather vote! At least McCain clings to his wife's money and houses. Which reminds me of a political smear note I received today, which harked back to his FIRST wife who "got dumped when he returned from prison, and saw the tragic effects of the auto accident she suffered while he was away - at which point he started womanizing/ hunting for number two big-time, whom he married six months later..." (Looks like dirty-tricks are not the province of just one party. My eyeballs felt dirty just from reading it. But then again, I am passing it on, kinda - so what does that do to my karma? BrianW |
OT - Is your city out of fuel?
Brian Whatcott wrote:
(Looks like dirty-tricks are not the province of just one party. My eyeballs felt dirty just from reading it. But then again, I am passing it on, kinda - so what does that do to my karma? That's it Brian, you're coming back as worm! :-) Cheers Marty |
OT - Is your city out of fuel?
"Brian Whatcott" wrote in message
... On Wed, 17 Sep 2008 17:23:02 -0700, "Capt. JG" wrote: wrote in message . .. On 17 Sep 2008 17:27:03 -0500, Dave wrote: On Wed, 17 Sep 2008 13:50:02 -0700, "Capt. JG" said: McCain relies on his wife to read/send his email. I wonder if that'll be true when/if he gets elected. That talking point may not be a wise one to dwell on, Jon. I suspect there are a fair number of voters who are potential customers for that Video Purrfesser program, and who won't appreciate it. Yeah, he wouldn't want to offend the knuckle-dragging, mouth-breather vote! At least McCain clings to his wife's money and houses. Which reminds me of a political smear note I received today, which harked back to his FIRST wife who "got dumped when he returned from prison, and saw the tragic effects of the auto accident she suffered while he was away - at which point he started womanizing/ hunting for number two big-time, whom he married six months later..." (Looks like dirty-tricks are not the province of just one party. My eyeballs felt dirty just from reading it. But then again, I am passing it on, kinda - so what does that do to my karma? BrianW You're right. It was a tasteless smear, even if it was the truth. I believe he actually started womanizing before he left, but it's not something that should be used against him. After all, he's running on character and integrity. Ok... sorry for the off-topic politics. -- "j" ganz @@ www.sailnow.com |
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