10:46: Selling Short S&P 500 index futures now @ 851.75
News before the mic cracks: Paul Volcker will chair Obama's Council of Economic Advisers Economic Recovery Advisory Board.
They figured out that it would be better not to have a specific time to start the daily Obama announcement, so when they miss it we can't make fun of them for it.
10:47: And... begin.
10:51: What do I have to do in order to get into one of Obama's cool non-cabinet level, totally powerless clubs?
CNBC has the right idea. They are posting the Dow figures right next to Obama live. Did they do that last time?
The Obama people have also figured out to keep Obama's segment short. That is killing our index short theory. Ugh.
Q. Does the Bush Administration suck?
A. Yep. I am focused on the middle class worker. I'm going to create a team to implement my plans.
Q. Hey, is this weekend going to be busy at the malls?
A. I'm going to the mall, baby. The rest of you all are going to be pinched.
Q. How are you going to pay for all your programs? What specifically are you going to cut to pay for it? Also, what's with this Volcker thing? Where is our change? (Wow, who let this guy in the room? They have started using McCain's screeners I guess).
A. Whoa, nelly. How many questions are you asking? Look, there aren't any democrats worth appointing who haven't spent years in Washington. Volcker hasn't even been in government in years, sheesh, where have you been all this time? Ok, that's it. Happy Thanksgiving.
Covered theoretical short @ 853.75. (-2 points). Hmmm, this short government speech thesis requires government officials to babble more than Obama has. Give him this, he learns quick. He got killed for his first press conference.
Posted by Falcon , Nov 26, 2008 10:51AM
Breaking News!
Wideclops chosen as White House Intern!
In other news:
The Federal Acronym Clearinghouse has established another lending facility this morning. The new facility with have the acronym F.U.P.A., and will be lead by Michelle Obama.
Posted by guest , Nov 26, 2008 10:52AM
Just FYI, Volcker will not chair the Council of Economic Advisors, that's Christina Romer. He will chair the new Economic Recovery Advisory Board.
So just to get it straight, there is now the Council of Economic Advisors, the National Economic Council, and the Economic Recovery Advisory Board...and that's just in the White House! So not counting the um, Treasury Department. And the er, Federal Reserve.
Posted by guest , Nov 26, 2008 10:54AM
volcker will be chairing a WH advisory board, not the CEA...
Posted by guest , Nov 26, 2008 10:56AM
the mkt likes uncle june?
i thought they hated him
Posted by guest , Nov 26, 2008 10:56AM
>>one of Obama's cool non-cabinet level, totally powerless clubs?
as opposed to the cabinet itself, another totally powerless club?
Posted by guest , Nov 26, 2008 10:57AM
Another episode of The Empty Suit: Tune in as prez-elect states the obvious. again.
Posted by guest , Nov 26, 2008 11:00AM
Can he just get his own cable channel already. I know its a holiday week and all but man oh man he is tedious.
Posted by guest , Nov 26, 2008 11:00AM
BHO not as much fun to watch as GWB. Too well spoken.
Posted by MarshallStack , Nov 26, 2008 11:01AM
You are idiots.
This is what a leader looks like, talks like and how one thinks.
You decide. Let Citi fail? No - I guess not. Shoot Fuld in the face? Yea - sounds good.
It is a bunch of shit options to shit situations. Fuck all of you. The man is dancing as fast as he can - and he aint even sweating.
Posted by guest , Nov 26, 2008 11:01AM
@EP
Out of curiousity, who did you vote for?
Nader?
Posted by guest , Nov 26, 2008 11:03AM
@9 he's not even in the club yet. can dance all he wants while waiting in line
Posted by guest , Nov 26, 2008 11:03AM
EP wrote in Clay Aiken.
Posted by guest , Nov 26, 2008 11:04AM
Was that guy with the bad hair piece on again? I want that look........
Posted by guest , Nov 26, 2008 11:04AM
Ooh MarshallStack, a leader....that's just what you need...
Are you on the wait list for Obama to come over to your house, spank you and make you suck his dick?
Posted by guest , Nov 26, 2008 11:05AM
@11- Well your just a doorman, DOORMAN!!
Posted by MarshallStack , Nov 26, 2008 11:05AM
He just used the term "Group Think" ... Irving Janus ..
SMAHTEST president EVAH.
PS - GFY.
I love how Fox and the left are both bitching about Clinton retreads. WAAAAY-IT! You promised change! This isn't change. We love semantics.
Where anyone with less to prove would say - change means getting us out of this mess - that will take experience AND new ideas. the appointments reflect an understanding that it takes both .. so fuck you and shut up you stupid, divisive, partisan-mongering press.
PS-GFY2
Posted by guest , Nov 26, 2008 11:05AM
Goolsbee is the most ignorant slut on the planet. I do believe he was licking Spunk-Elect off his lips that entire speech. God help us.
Posted by guest , Nov 26, 2008 11:07AM
i have never heard anyone talk so much and say so little. BO tops Greenspan for obfuscation.
Posted by ep , Nov 26, 2008 11:08AM
"@EP
Out of curiousity, who did you vote for?
Nader?"
I don't vote in the U.S.
Posted by guest , Nov 26, 2008 11:08AM
Though he really needs to stop referring to GWB as a honky jive turkey, its getting offensive
Posted by MarshallStack , Nov 26, 2008 11:09AM
@11
Clearly you are not paying attention. Haven't you heard? There is only ONE POTUS - have you seen anyone else trying to lead?
Posted by guest , Nov 26, 2008 11:09AM
ep, is that you silently deleting "first!"-type comments? BTW, what is the comment policy here? I can never get the link to work.
-Not #1
Posted by guest , Nov 26, 2008 11:14AM
dy-no-mite!
Posted by Joseph di Jersey City , Nov 26, 2008 11:14AM
Does he still have the "Office of the President Elect" sign? I wonder how many years he's been carrying that around and hoping.
Posted by guest , Nov 26, 2008 11:14AM
@19 -EP
"I don't vote in the U.S."
Figures. This explains your love of everything Euro.
Posted by guest , Nov 26, 2008 11:14AM
How is modernizing health care and public schools going to jump start the economy in his first 100 days?
Posted by guest , Nov 26, 2008 11:15AM
@ 16
please read 18
Posted by MarshallStack , Nov 26, 2008 11:21AM
@27
tldr
Posted by Finnegan , Nov 26, 2008 11:30AM
On its face--and mid Bush created crisis, where some $7 trillion in loans, guarantees were offered by Feds- fixing education or healthcare in first 100 days seems off point.
But if one could make progress on healthcare, it does remove a lot of economic worries on the low end. In theory, with Americans being huge spenders, if their healthcare becomes more affordable, it frees up cash for further spending, and makes them psychologically disposed towards spending (since one major worry is removed).
Posted by guest , Nov 26, 2008 11:32AM
@26: Don't worry scrote. There are plenty of 'tards out there living really kick ass lives. My first wife was 'tarded. She's a pilot now.
Posted by guest , Nov 26, 2008 11:32AM
Who's Goolsby? I'm High-Pitch.
Posted by guest , Nov 26, 2008 11:36AM
@30
Sweet. More references to Idiocracy needed. President-Elect Comacho is gonna fix all problems with the dead crops and all that starvin and subprime bullshit. He's got a so-loooo-shun.
http://www.youtube.com/watch?v=XkGCwgWW3_U
http://www.youtube.com/watch?v=YQGsdjHTxsQ
http://www.youtube.com/watch?v=js0sy-Mq58U
Posted by guest , Nov 26, 2008 11:40AM
@30
Sweet. More references to Idiocracy needed. President-Elect Comacho is gonna fix all problems with the dead crops and all that starvin and subprime bullshit. He's got a so-loooo-shun.
http://www.youtube.com/watch?v=XkGCwgWW3_U
http://www.youtube.com/watch?v=YQGsdjHTxsQ
http://www.youtube.com/watch?v=js0sy-Mq58U
Posted by ep , Nov 26, 2008 11:45AM
"Figures. This explains your love of everything Euro."
You managed to demonstrate how little you know about me quite well here.
Posted by guest , Nov 26, 2008 11:46AM
EP so happy that you're also European, I already thought you have an air of old world class over you. And the colonies should STFU when a European speaks - all your ancestors were chased out of europe or dragged out of other places and that did not happen because they were so succesful there.
Long Europe, short the colonies.
Posted by ep , Nov 26, 2008 11:49AM
"EP so happy that you're also European...."
I never said anything of the kind.
Posted by guest , Nov 26, 2008 11:52AM
Mysterious. Hope you're not Canadian since Canada is basically the US' colony, which is like being someones dog's dog. ouch.
Posted by guest , Nov 26, 2008 11:59AM
@ EP.
Nil sapientiae odiosius acumine nimio.
My guess: you are from the US, but you don't vote here. You never said you did vote anywhere else.
Posted by guest , Nov 26, 2008 12:00PM
No one cares about witty comments. In a world where the wrong tie can ruin your chances it was folly to think that these employers were looking for unique and interesting. They are looking for worker bees. Worker bees with the potential to be managing directors one day, sure, but today, worker bees. It was definitely an employer's market.
Posted by guest , Nov 26, 2008 12:00PM
ep is a Martian. They are renowned for their tired jokes, flatulent writing skills, high sense of self-worth and are of course ineligible to vote in the US.
-episnoBL.
Posted by guest , Nov 26, 2008 12:00PM
No one cares about witty comments. In a world where the wrong tie can ruin your chances it is folly to think that these employers are looking for unique and interesting. They are looking for worker bees. Worker bees with the potential to be managing directors one day, sure, but today, worker bees. It is definitely an employer's market.
Posted by guest , Nov 26, 2008 12:01PM
@EP
"You managed to demonstrate how little you know about me quite well here."
Canadian? Got a thing for hockey & maple syrup?
Can I get a hint?
Posted by guest , Nov 26, 2008 12:07PM
Bitches, PE Baller here, don't want to spoil your mood bu EP like me is in PE and you guys are not so remember:
you may have a big mouth on the message board but if we ever meet in real life your MD probably won't even let you look us in the eye.
- PEB
Posted by guest , Nov 26, 2008 12:12PM
Play the lawyer layoff game
http://endofesq.com/?p=596
Posted by guest , Nov 26, 2008 12:12PM
bho = moozlem
Posted by guest , Nov 26, 2008 12:22PM
What does Don Peebles think?
Posted by cy , Nov 26, 2008 12:25PM
29/ finnegan-
How, exactly, is the governemnt going to make healthcare more affordable? Is it going to magically produce more doctors, nurses, MRI's, hospitals?
If you take the amount of doctors in the country as fixed, by making healthcare "more affordable" you're saying that you going to take time from the patients doctors are currently seeing and give that time to other patients. But there are only so many doctors. If I try, right now, to make an appointment with a family practice doctor, i'm looking at a week or so (at least) before i can get an appointment. I took my friend to Lennox Hill for a minor accident and he was there for over 12 hours to get an X-ray. In canada, where healthcare is provided by the gov't, if you want a hip replacement you're on a two-year waiting list. Even if gov't throws all the money it wants at healthcare, there are only so many doctors. More gov't in healthcare = gross inefficiency and long waiting periods.
Posted by guest , Nov 26, 2008 12:29PM
Michelle Caruso Cabrera in fck me boots, white no less.
Posted by guest , Nov 26, 2008 12:30PM
@47 Your problem is that you are employing logic in your argument..liberals and Demos do not use logic .. they are dreamers.. like little children thet just want things to be better with out any understanding of how to make it so...when things aren't perfect they blame the system..daddy government.
Posted by guest , Nov 26, 2008 12:36PM
EP is Canadian. Or she is a Chinese foreign national. Or...ah, forget it.
Posted by ep , Nov 26, 2008 12:38PM
"Can I get a hint?"
You spend too much time on message boards...?
Posted by Tapecracker , Nov 26, 2008 12:40PM
I caught MCC in those white boots as well... I used to like her but lately she seems to be getting VERY full of herself, always injecting some "gotcha" type bullshit into the dialogue.. she's not nearly as smart as she thinks she is. At the very least, she should be smart enough to realize she wasn't hired to be heard from.
Career Suggestion in Two Words Michelle: plunging neckline
Posted by guest , Nov 26, 2008 12:43PM
I don't care if EP is a European or a knuckledragger from Long Island who doesn't vote. "She" is a fiction and until the veil of confidential identity is dropped, I don't read anything written by EP except as entertaining drivel.
A. "She" is not in private equity. If she was, she's been fired. If she is, she discloses so much confidential information her blog that she will be fired.
B. If she is in PE, then she's talking up her book on this website. That means she should be accorded NO credibility. When Einhorn speaks, at least we know where he's short and can guage for ourselves if he's talking straight or trying to argue a position that will financially benefit him. Not true of EP.
Posted by ep , Nov 26, 2008 12:48PM
"I don't read anything written by EP except as entertaining drivel."
That's the spirit!
Posted by guest , Nov 26, 2008 1:14PM
@52 Are you Chazz?
Did anyone else this morning catch how Chazz says he's done with CNBC?
WHAT DO YOU GOT?
-KOKE RATIGAN
Posted by guest , Nov 26, 2008 1:23PM
Posted by ep, Nov 26, 2008 12:38PM
"Can I get a hint?"
You spend too much time on message boards...?
Big Flavor Flav wooooooooooowwwww.
Posted by guest , Nov 26, 2008 1:38PM
EP is Asian of the Chinese persuasion.
Posted by MarshallStack , Nov 26, 2008 2:00PM
Isn't EP just plain oriental in her/his sexual orientation?
Will there be a test? Cause I can cram.
Posted by guest , Nov 26, 2008 2:31PM
Equity Private oughta get advanced to PFC by now...
Posted by guest , Nov 26, 2008 2:43PM
Chazz yesterday: Rubin is an asshole, somebody close to the situation told me.
Chazz minutes later: I don't know of what I speak about Rubin. I'm out of here.
Posted by KevinB , Nov 26, 2008 2:52PM
@47 - I am Canadian, and your "two year wait for hip replacement" comment is complete and utter bullshit. Median wait time in Ontario, where over 1/3rd of Canadians live, is five months. I'm able to see my GP on one day's notice. The biggest complaint up here is long waits in Emergency, which - surprise! - is also the largest complaint about service levels in the US as well. (And, as a traffic engineer, I understand that problem - you can't forecast ahead of time the number or the severity of injuries that are going to arrive, so it's impossible to predict how much staff you'll need on hand to deal with them, and with tight budgets, no hospital is going to overstaff ER.)
Oh, and you might want to check out the solvency of Canadian banks; since most of them still understand the term "due diligence", we have very few of the problems that are assailing the US.
And we recently re-elected, of all things, an economist as opposed to a "community organizer" as Prime Minister.
I'm not anti-American; my grandfather was an American. However, there is a certain sub-category of Americans who know nothing about Canada but feel entitled to pontificate about it, and I think those particular people are idiots.
Posted by guest , Nov 26, 2008 2:59PM
61 You know why that is? No offense, but Canadians strike most Americans like the stereotypical midwesterner but more so. They have this clean honest self righteous thing going on that comes across as blockheadedness, esp to new yorkers, who are smarmy, but at the same time flexible and quick minded.
Posted by guest , Nov 26, 2008 2:59PM
@61
so waiting 5 months for a hip replacement surgery is acceptable?
Posted by guest , Nov 26, 2008 3:03PM
EP,
Are you going to make another episode of spiral?
Posted by cy , Nov 26, 2008 7:25PM
61-
A.) That figure is from 2005. Wait times have increased since then.
B.) If my figure is still wrong (which seems likely)...my bad. I was not commenting on the differences between the canadian and us medical systems. The point was that if you have too many patients trying to see too few doctors, you are going to have long wait times, which seems to be an issue in Canada (too few ortho surgeons).
C.) Reading your post makes it seem like I went on some anti-canada rant. I did not. Montreal is one of my favorite cities. I never said anything regarding american vs canadian banks. I was just as critical of US healthcare as I was of Canada's.
Posted by guest , Nov 26, 2008 11:19PM
@61 - I work for a Canadian Bank in NYC and am not a Canadian. One of the people on the desk had to have specialized surgery and was able to have the surgery done within 48 hours. This colleague is a proud Canadian and boasts about the low cost of the system and the ability to see his/her GP on short notice. This co-worker also admitted after the surgery that had the need come up in Canada, the colleague would have had to wait for many months to get this surgery done.
You are right about the credit quality of Canadian Banks. The Canadian Banks have proven that they can earn profits even in tough times - although the Oligopoly in Canada doesn't hurt their business model either.
Posted by guest , Nov 27, 2008 1:48PM
solving the immigration and energy problem simultaneously
annex Canada and Mexico; bring troops home from Germany, Europe, etal; use $ saved to hire teachers to teach English to Mexicans
close borders, revert to North American fortress, solve terrorism to boot
one continent, one people, one language
oh, withdraw voting rights for anyone receiving government aid, including officers, directors, & employees of entities receiving bail-out assistance
Posted by guest , Nov 27, 2008 1:48PM
solving the immigration and energy problem simultaneously
annex Canada and Mexico; bring troops home from Germany, Europe, etal; use $ saved to hire teachers to teach English to Mexicans
close borders, revert to North American fortress, solve terrorism to boot
one continent, one people, one language
oh, withdraw voting rights for anyone receiving government aid, including officers, directors, & employees of entities receiving bail-out assistance
Posted by guest , Nov 27, 2008 2:33PM
@67-68
Wait for it........
Posted by guest , Nov 28, 2008 2:16PM
The blogger below is the best trader in the world. Check it for yourself. For few hours he has been trading live. He made more that two dozen trades, ALL profitable.
He made today 500 PIPS on EUR/USD! That is $5000 dollars per contract!
He has never failed even in a single trade. Not a single losing trade!
Read it, is very educational!
http://financialtraders.blogspot.com/2008/11/eurusd-eur-usd-eurusd-usdeur-usdeur.html
Examples of calls/trades he made. Nailed the bottoms of stock market on Oct 10, 16, 24, and the bottom of November 21 (with the level of one to few minutes!).
http://financialtraders.blogspot.com/2008/11/stock-market-bottom-november-2008.html
Posted by guest , Nov 29, 2008 7:44PM
UPSTAIRS HILLARY FACTS TO BE DISCLOSED AFTER NEWS OF HER APPOINTMENT