Chavez Wins Vote To Scrap Term Limits (FT)
Venezuelans have given Hugo Chavez’s “Bolivarian revolution” fresh impetus after voting in favour of a referendum that will allow the socialist leader to continue running for president indefinitely.
“The gates to the future have been opened wide,” said an emotional Mr Chavez from the balcony of the presidential palace, as a throng of ecstatic followers chanted in unison, “Hey, ho, Chavez won’t go.”
G7 Tries To Light A Flame Under Geithner’s Ass (Bloomberg)
It’s pretty much the world consensus at this point that the US is responsible for the economic downturn; the German Finance Minister called us the “departure and focal point”. They’re (not the emphatic “they’re”, but rather something approaching the entire world) calling for speed, clarity, and magic:
“A concrete U.S. plan would have positive spillover effects on markets and economies elsewhere,” said Marco Annunziata, chief economist at UniCredit MIB in London. “They are also probably hoping Geithner unveils the magic formula, which they could then also adopt.”
In related news (Reuters), President Obama’s administration warns not to expect magic (miracles), though “there will be signs very quickly, but it’s going to take time for that to show up in the statistics” says David Axelrod.
Car Czar Replaced By Panel (NYT)
The idea of the car czar didn’t last long; what we’re seeing instead is a panel of three people: Geithner of Treasury fame, Summers, Chairman of the Economic Council, and Ron Bloom.
“Mr. Bloom is known for bringing his Wall Street experience as an investment banker to an advisory role as the “in-house” banker for the steel workers’ union. With the auto union locking horns with bondholders in the G.M. revamping deliberations, Mr. Bloom appears to bring credibility with both the union and the debtors. Mr. Bloom could not be reached for comment Sunday night.
Another senior administration official said that Mr. Obama had considered appointing a car czar, and among those considered for the job was the private equity executive Steven Rattner. It was not clear why the administration changed course or whether Mr. Rattner would have a role on the task force.”
From Prisoners To Chief Executives (BBC)
“Four years ago Catherine Rohr was a venture capitalist on Wall Street. Then she left her job with its six-figure salary and decided to create the Prison Entrepreneurship Program, or PEP.
[...]
“They don’t all understand risk management as well as they should because they all got busted when they came to prison, but when it comes to execution and marketing – they get it.”"
BofA workers can keep Flight 1549 refunds (Charlotte Observer)
It turns out Bank of America really did ask its employees on the flight that landed in the Hudson to turn the money the airline refunded them over to the bank. But, according to BAC, it was an accident.
An Intelligent Argument For Bonuses (Breakingviews)
Rob Cox has put together a cogent argument for the outlandish bonus structure on the street.
so suck it, commenters who were claiming DB had made up BAC asking employees for the money back. bitches.
At least the other finance ministers were paying attention to Geitner. Look what happened to this guy, probably after hearing last Q’s gdp was coming in at -12.7% annualized.
“Drunk? No, it was the medicine, says Shoichi Nakagawa”
http://www.timesonline.co.uk/tol/news/world/asia/article5743244.ece
@1 – bfd
From Prisoners To Chief Executives or “making a Skilling”
Bess- this is pretty funny…
http://www.wallstreetoasis.com/forums/true-life-i-cant-afford-my-lifestyle
wow, wonder if this will be a bunch of old people who protested in their youth:
“The protest against the porkulus is on for President’s Day!
Date: Monday, February 16th
Time: 12:00 p.m. to 3:00 p.m.
Where: Westlake Park in downtown Seattle, 401 Pine St., in the open area by the big arch.”
http://michellemalkin.com/
@5
that is not funny, was mentioned weeks ago already and the writer of opening bell is not bess..
nice going..
No doubt they would be asking for the money back from the airline if everyone was killed. With all the negative publicity is it any wonder these banks try to present an image of ‘errors having occured’ and then reversing themselves?
What is Erin Burnett doing on her day off?
HA HA HA HA
-General M. Bison
She’s probably wondering what I’m doing on my day off
Erin is supposed to be in China.
fiasco
Tomorrow is the day bitches! Gazza Bagga will finally lose it on-air. Major provocation plan is already in the kettle
Gopher @CNBC
Wtf is William Richards
reminds me of my school teacher.
@3 – layoff @1, s/he has a point. everyone was claiming the story was made up. the fact that (a) bofa officially acknowledged they fked up and (b) db was given props in the story only further legitimizes the site which has been blocked by effectively every “major” bank on the street. why is it blocked? because big brother likes to keep the employees in the dark. power to the people, b1tches!
http://www.nypost.com/seven/02162009/gossip/pagesix/bernie_madoff__1_guy_155381.htm
no surprise here
Cluzo – when I read the story in the CLT Observer this weekend, my initial reaction was disappointment that more and more yahoo fn types will be here.
Not because it’s CLT necessarily – just another MSM pub.
@17 – respect, but I also agree with @18, as this site becomes more popular, the opinions and inside insight we like to share will only become diluted by the “yahoo fn types”, it is disappointing
Am I am idiot?
@19
yeah god forbid that those yahoo fin types get access to your brilliant inside insights..dork.
@19 – Your insight inside mainly comes from you being able to see the inside of your own ass
@ 20 yes.
@ 22 not original.
the economist is starting to talk about US default. The economist link is in this piece.
http://bit.ly/13SJvr
uh-oh.
Erin has a summer home in China in the Whoflungpoo province, just south of Sumyoungcum.
Anyone have more details on Erin’s trip to China? Maybe she is lying in bed right now wearing sexy little panties that are half hazardously slipping off her hips as she bites her lower lip in frustration. Always wanting but never having, always needing but never knowing.
Let me be your daddy Erin. I love you long time.
http://www.youtube.com/watch?v=rfr40TDfmM0
SPODE@dealbreaker.com
“It’s pretty much the world consensus at this point that the US is responsible for the economic downturn;”
BUT-BUT-BUT….they told me if Obama was elected, the rest of the world would LOVE us!
I finally found the Holy Grail. Guest this is for you, thank you for all the laughs.
http://www.youtube.com/watch?v=-0aADE_j_c0&NR=1
Should be President-for-Life Day’s Bell, imo. On the upside, the stragglers in my family have all gained US visas!
Nuns. They have tits too.
@18 – yeah, what’s good for bess et. al. is not necessarily good for the rest of us…that said, the yahoo types are quickly weeded out (remember the “hatchet man”?).
So, Bess…Does this mean you had a V-Day repast with someone else? See my offer in 2/13 write-offs. I’m waiting!
The Other Guy From Delaware, Bitch.
Other Guy From Delaware @30- Your anger is consuming you and has you jumping around like a June Bug on a hot tin roof. You need to deal with it and I’m here for you.
Dr. Phil
http://www.bettyconfidential.com/ar/ld/a/a_good_cry.html
Oh for cryin’ out loud Dr. Phil, blow it out your ass. Dill Weed.
The Other Guy from Delaware
31: what a lame ass pretending to be one of if not the lamest jackasses on TV.
Porkolious by government sub sector…
http://www.propublica.org/special/the-stimulus-plan-a-detailed-list-of-spending
@25
Your comment is probably not well thought out. It’s possible to blame the US for the economic downturn (which began during Bush) while still seeing universal support for Obama internationally (versus other alternatives).
33- There, there, Other Guy. Let it all out, let it all out. You’re in a safe place now and we support you. You are surrounded by people who care. Don’t blame yourself.
Dr. Phil
Nuns. They have tits two.
@1 – I was one of those who doubted the veracity of the BofA story. I would like to point out that I worked for those bloodsuckers for the last five years and was recently fired/zeroed etc. So, it just goes to show that one should never underestimate the shittiness of this fine national institution.
“They don’t all understand risk management as well as they should because they all got busted when they came to prison, but when it comes to execution and marketing – they get it.”"
Prisoners understand execution? This has GOT to be intentional.
I guess with all of Ken’s f#ck ups over the last year BAC is now a money hungry machine….do they hold life insurnace policies on employees? They would have made alot more money had the employees all perished….that is one sick company!