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- Bonus Watch '12: Barclays 29 comments
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@47 - MM pulling his own weight?! I don't even think he can pull his own.. oh, wait, this is a family website.
This is nothing new for the NHL. Harold Ballard of the Toronto Maple Leafs did time for stock fraud. Bruce McNall of the LA Kings, Peter Pocklington of the Oilers, Eugene Melnyk of the Ottawa Senators - all have been embroiled in courts for various offences. We're major league for fraud!
From this week's New Yorker magazine, Jimmy Cayne on Tim Geithner: "The audacity of that prick in front of the American people announcing he was deciding whether or not a firm of this stature and this whatever was good enough to get a loan. Like he was the determining factor, and it’s like a flea on his back, floating down underneath the Golden Gate Bridge, getting a hard-on, saying, “Raise the bridge.” This guy thinks he’s got a big dick. He’s got nothing, except maybe a boyfriend. "
I thought Marc Faber was "Dr. Doom". Did he die or something?
I expect to see this on The Daily Show and/or the Colbert Report tonight. It's just too funny to pass up.
@15 - My guess is this is some weird kind of binary overflow. Or maybe it's some programmer's revenge for being stuck in the back room and shat upon by everyone. I kinda like the latter.
Canada has about the same population as California, and only has six big banks, not one of which, by the way, came close to failing last year. I don't see why having fewer banks is necessarily a bad thing.
@92 - You're right, but I was still LMAO. @104 - FTW!
Did Cliff Assness just say "Someone has to stand up for incest" on CNBC? And, post-Drury, isn't Becky dressing like a demure school girl these days?
On the 3rd page of the linked article, Lenny recommends BlueStar. Call Gordon! Where's Bud?!
Hey - legalizing booze helped us get out of the Great Depression. Legalizing pot may do the same for us this time. Just put enough downward pressure on prices at the beginning to run all the cartels out of business (who would pay $100/oz if you can get it at the government store for $25?), and then slowly hike the taxes up. Just like boiling frogs.
@13 - FTW!
@22 - How can anyone possibly ring up $50 mill without any assets to show for it? What could he have blown it on? I mean when he was between the lines, Lenny played baseball like no one else. How could he go off the rails? If someone had told me this could happen to Nails, I would have snorted. I didn't think there was a snowball's chance in hell of it. I guess he's behind the 8-ball now.
At 7:38 am today, Bryan Marsal, the new CEO in charge of unwinding Lehman, admits on CNBC: [The regulators get paid a pittance to monitor the system compared to what we pay the quants from MIT] "to circumvent the system." Not to develop new ways to create wealth. Not to develop better algorithms than other firms. "To circumvent the system". Just another reason I want to keep my money off Wall St.
Micheal Jackson was, IMHO, thrust into the spotlight too early without a healthy family to keep him sane. I personally thank God my two wonderful daughters are exceptional but under the radar. MJ's life seems to be another confirmation of the adage "Whom the gods would destroy, they first make successful". RIP
Well, up here in Canada (you remember us? the country with no banking crisis, no mortgage crisis, etc? All our current problems are a direct result of your economic implosion..but I digress), if you trade frequently with holding periods measured in milliseconds instead of months, your net profits (you get to deduct losses and commissions) are considered "ordinary income" and are taxed at regular rates. On the other hand, if you hold stocks a reasonable amount of time, and don't trade so often that you are considered a trader or dealer, any net gains are considered "capital gains", and they are included in your income at 50% of the gain. In other words, if you hold a stock for a year, sell it for a $10,000 gain, you only add $5,000 to your taxable income for the year. At the top 43% rate, you pay $2,150 in tax, for an effective rate of 21.5%. Not exactly Gerstner's proposal, but it seems to work. As for all the douchebags saying that this would eliminate liquidity - I've been active in markets for 25 years. I never had a problem making a trade in any listed stock in the 1980's, and unless it was an odd-lot, it was filled in less than a minute. So bend over and kiss your ignorant behinds.
"Low hanging fruit"? Are you suggesting they consider spectacularly well hung homosexualists? @13/14 - First, learn how not to double post insipid remarks. Second, get a freakin' sense of humour. Third, kill yourself.
I thought there was an old joke that the definition of "chutzpah" was offing your parents, and then asking for mercy because you're an orphan. Now Bernie, after stealing billions from high and low profile Jews, is asking for clemency because he's receiving "anti-Semitic" remarks? You can't make this stuff up.
When I saw that photo, I instantly thought of a black, female, Charlie McCarthy. Except Charlie McCarthy was probably brighter.
@40 - Interesting concept, but don't you think the "body mass index" would be a better tool? A 5' woman who weighs 140 lbs pays a lot less under your plan than a 6'2" man who weighs 180 lbs, but she is definitely fatter. BMI has been correlated with specific health problems, like diabetes and stroke. Some US medical insurance companies charge a surcharge to patients with higher BMI's, which is a variation of your plan.