Does the wasteful spending ever end?

Apparently not, and it's becoming a little depressing. Bloomberg news reported today that a former Marine lieutenant is attending a "for-profit" university (whomever really knew these still existed should win a prize) at the taxpayers expense, and he cannot recall what classes he's taking. This is quite a dismal commentary on the state of affairs out there.

Oh for sure we're not outta the woods, LOL

ADBE says bye to 690 (9% or workforce)

JNJ = 7000 (6-7% or total employees)

ERTS, cya 1900 (19%'ish, gl guys, plenty of work elsewhere in LA, LMAO)

and to top things off, job openings remain near record lows,

EVEN THE FED WARNS:

THIS WEAK RECOVERY WILL NOT SPUR JOB GROWTH.

how on earth can we take this outright lying>?

http://finance.yahoo.com/news/AP-IMPACT-Stimulus-jobs-apf-3446575538.html?x=0&sec=topStories&pos=main&asset=&ccode=

oopsie #1081

http://www.businessinsider.com/the-warning-brooksley-borns-battle-with-alan-greenspan-robert-rubin-and-larry-summers-2009-10

oopsie #1080

http://www.bloomberg.com/apps/news?pid=20601109&sid=a7T5HaOgYHpE

THEY're gonna regret this

http://finance.yahoo.com/news/Administration-plans-big-pay-apf-1242540084.html?x=0&sec=topStories&pos=4&asset=&ccode=

why do government agencies trade publicly on the market? why do FNM and FRE even trade. doesn't make a lick of sense to me.

Was that the TOP? 1104 on ESZ9 = 66% from bottom

http://finance.yahoo.com/news/Economy-recovering-in-many-apf-2306576046.html?x=0

LMFAO, are you kidding me? Housing has bottomed, pullleassseee! Maybe if you figure this fuct market with no REAL liquidity has hit bottom. But one those tax credits expire and all the REO properties actually come to market, well then we'll see if it's even a fuctioning market.

Greenies, ROFLMAO!!!!!!!!!!!!!!!!!!!!!

As in Greenspan? Talking about living in the past. Get with it!

http://www.zerohedge.com/article/treasurys-new-solution-greenies

Rant

This "faceless" meltdown was brought by the same people charged with correcting it. We need an American Revolution 2.0. Too many people are at the end of their rope, and not just those losing their homes, this has gone much further than losing the roof over your head that you all overpaid for. Without the TARP the S&P would be trading 300 and this country would be defuct. We gave them billions to "re-lever" their holdings in the market and the fed leaves rates at zirp, but this does little for the American taxpayer who is on the verge of losing their job. Revisiting the past as this comission plans to do is a waste of time. We need to throw those in power out, and start fresh. There is no use in throwing anymore good money after bad. Despite the rally in stocks, we are still on the verge of collapse. Only 2 million foreclosures this year, 3 million next, and estimated 12-15 million by 2012. The cram down is not an answer, changing contract law is to adapt a fundamental function of society to control an emergency. We need real change, we need marches, riots even, or else is Obamageddon 2011.

This cannot be True, American Revolution 2.0 please

http://www.bloomberg.com/apps/news?pid=20601087&sid=aHURVoSUqpho

So the TARP is down $140 some odd billion and we let this happen. Seriously, WTF!

VIP mortgage for Chris Dodd............

these guys are supposed to be representing us? WTF, The current Senator from Connecticut even counted both his residences as his primary. Ahem, that's illegal!

Only $1233, pay up suckas

By that measure, the government has been a poor investor, losing about $148 billion so far--$1,233 per U.S. household. Ethisphere analyzed the same data, including results from the Federal Reserve's recent stress tests, to identify firms most likely to write off their debts to the federal government, either partly or completely.

from: http://news.yahoo.com/s/usnews/20090728/ts_usnews/wherebailoutmoneygoestodie

"sure am glad all out Social Security is tied up in AIG, really good bet our Congress made there, esp. with the reverse 1-20 split:"

FNM limits to 125% ---> Seriously, WTF!

http://www.bloomberg.com/apps/news?pid=20601087&sid=avAvJacs7UcU

Well now that it's a done deal and we are lending 125% LTV on residential real estate, don't all of us non-home owners deserve to move in to a house for free. Why just stop at foreclosure prevention? Why not let every single person who doesn't own a home move-in to the home of their choosing for nothing down? I feel we have truely entered the twilight zone with this guy. Clearly he will stop at nothing short of taking this entire economy to the brink.

The height of the MFing hypocrisy!

http://news.yahoo.com/s/ap/20090622/ap_on_bi_ge/us_obama_tobacco;_ylt=Ao_oIr4P5vC86q3BRBC.3giyBhIF;_ylu=X3oDMTJoMmZma2ZpBGFzc2V0A2FwLzIwMDkwNjIyL3VzX29iYW1hX3RvYmFjY28EY3BvcwMyBHBvcwM2BHNlYwN5bl90b3Bfc3RvcnkEc2xrA29iYW1hc2lnbnNhbg--

Does this have any parallels to you, me, debt, and everything in this fuct country?

the American Car Industry

Whoopee!!! We as taxpayers own a couple lemonmakers:

http://autos.yahoo.com/articles/autos_content_landing_pages/1006/used-car-lemons-and-lemonade/;_ylc=X3oDMTE3N2Y4YmM3BF9TAzI3MTYxNDkEc2VjA2ZwLXRvZGF5BHNsawN1c2VkLWxlbW9ucw--

The (mis)perceived safety of the dollar

In http://seekingalpha.com/article/144149-five-points-to-eliminate-confusion-about-the-u-s-macroeconomy, when this mother of all bank runs occurs, then what? What are the impacts? Inevitable decrease in the American standard of living? an end to this sense of entitlement we've had for decades?

Might as well quit

between this: http://economix.blogs.nytimes.com/2009/06/18/yes-many-states-are-expanding-unemployment-benefits/?hp

and my tax rate=40%

WTF do I get out of bed in the morning? I could get fired and go on unemployment for the next 59 fucking weeks!

Tell Additional Ridiculous Propaganda

TARP finaly got paid back today, by all those banks that didn't need it in the first place. Or at least now that the market has rebounded 40%, and they plowed that $70 billion in at 10-1 and pulled back the funds. Where's the other $500 some odd billion, well I guess we gotta get the market to rally another 20% or so before we see a cent of that. Will BAC, WFC, and C fail if the real estate market doesn't bottom yesterday. Only time will tell. if this is any sign (http://www.bubbleinfo.com/) residential still has a ways to go, and CMBS delinquincies hit all time highs today, so.........

OVEREXPOSURE?!?!?!??!?LOL

http://news.yahoo.com/s/ynews/ynews_en398

REVOLUTION.

if this isn't illegal

https://www.efanniemae.com/sf/servicing/homesaveradvance.jsp

how does this not circumvent my rights as a tax-paying, non real estate owner in the USA. They are giving away $15K, unsecured, for 15 years, at 5%. WTF. This shit goes way to far. I've had it. SWGO, pls

In preventing failure are they ensuring success?

http://blogs.wsj.com/deals/2009/05/11/mean-street-stress-testing-obamas-facts/
not really, all the machinations are for their own self interest groups and lobbyists who paid to put them in office. In all acutality, Obama is unlikely to fulfill all/any of his campaign promises.

only way outta this massive debtload is through growth, just ask Obama. Where the growth gonna come from? Well reinflation to some degree, or one hell of a massive war....
http://news.bbc.co.uk/2/hi/asia-pacific/8104709.stm

this had to be Bush, Paulson, and Cheney...

http://ftalphaville.ft.com/blog/2009/06/12/56978/quantitative-stealing/

right?

ARMegeddon

http://optionarmageddon.ml-implode.com/2009/06/11/fed-data-de-leveraging-has-only-begun/

Obamageddon 2011 indeed.

Walter E. Massey

http://en.wikipedia.org/wiki/Walter_E._Massey

OK, let me be the first to admit that I have no clue what goes on at a BAC board meeting. Suffice to say it's probably 8 of 10 times a huge unproductive, bureaucratic mess. In any case, what in the world qualifies the above, recently named to be Chairman? The guy is a physicist, so obviously pretty decent with #'s, but wtf? All this tells me is that the co. is a total disaster, so much so that they had to get a guy at the helm that is completely clueless when it comes to banking. At MCD, all this guy did was put helathy items on the menu, real genius there!

Chrysler + US gov't vs. Taxpayer + US Supreme Court = wtf

It reads pretty simple the Fiat deal steals 20% of Chrysler from you, me, and every other taxpaying American (not to mention the primary lien holders, read: massive pension funds holding the long term debt) satisfies the Obama administration by staving off certain economic calamity and those dreaded labor unions that put him in power, and well generally speaking violates United States bankruptcy code. How do you steal from yourself to pay yourself? Without failures what good is success? The Chrysler scenario as it hilariously plays out in the administration being charged so early in it's infancy with breaking the law by the Supreme Court. Intersting times while General Motors, and infinitely more complicated bankruptcy proceeding awaits int he wings, I cannot help but wonder how close to the precipe we really may be.