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Mike the Usurper
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"I like your Christ. I do not like your Christians. They are so unlike your Christ" --Gandhi

"To announce that there must be no criticism of the president, or that we are to stand by the president, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public." -Theodore Roosevelt

"A little revolution, now and then, is a good thing." -Thomas Jefferson-

"In my lifetime, we've gone from Eisenhower to George W. Bush. We've gone from John F. Kennedy to Al Gore. If this is evolution, I believe that in 12 years, we'll be voting for plants." -Lewis Black-

"When you're born in the world you're given a ticket to the freakshow; when you're born in America you're given a front-row seat. And some of us in the front row have notebooks and pencils." -George Carlin

Irish bookie calls US race over, pays off on Obama - Yahoo! News
Topic: Elections 8:52 pm EDT, Oct 16, 2008

Paddy Power PLC says it is so sure Barack Obama will win the U.S. presidential election next month that it paid off Thursday on all bets it had taken backing the Democratic candidate. It said it shelled out more than euro1 million, about $1.35 million.

Well they think it's over, and are paying the money.

Irish bookie calls US race over, pays off on Obama - Yahoo! News

Bullwinkle Assassinated!
Topic: Humor 4:44 pm EDT, Oct 14, 2008

The nation mourns.

Bullwinkle Assassinated!

RealClearPolitics - Electoral Map
Topic: Elections 3:08 pm EDT, Oct 14, 2008

Sorry I don't know how to link dynamic picture detail so you'll have to follow the link, but Obama 313, McCain 158, Toss-up 67 is a big ol' can of electoral whup-ass.

RealClearPolitics - Electoral Map

Suicides from financial crisis cause concern - Yahoo! News
Topic: Current Events 12:53 pm EDT, Oct 14, 2008

In Massachusetts, a housewife who had hidden her family's mounting financial crisis from her husband sends a note to the mortgage company warning: "By the time you foreclose on my house, I'll be dead."

Then Carlene Balderrama shot herself to death, leaving an insurance policy and a suicide note on a table.

This has now left all sense of decency. Businesses and banks, especially banks, know exactly what is going on, and in many cases contributed to the disaster our economy has turned into. The "almighty dollar" isn't good enough. Instead of working against people, they need to be working with them, and for any banker who doesn't understand this one, dead people don't pay bills.

Suicides from financial crisis cause concern - Yahoo! News

U.S. Forces Nine Major Banks To Accept Partial Nationalization -
Topic: Business 5:30 am EDT, Oct 14, 2008

In pressing the bank executives to accept partial government ownership, Paulson's message was clear: Though officially the program was voluntary, the banks had little choice in the matter. In exchange for giving the Treasury minority stakes, the nine firms would jointly receive an investment worth $125 billion. The government would make another $125 billion available for the next 30 days to thousands of other banks and thrifts across the country. null

This is potentially good, but also potentially dangerous. The government stake is good, in that it can be used to block banks from doing things that are insane (credit default swaps anyone?). The government stake is dangerous in the sense that it may now be in a position to force banks to do incredibly stupid things (credit default swaps or massive sub-prime secondary loans?). The next step is still anyone's game.

U.S. Forces Nine Major Banks To Accept Partial Nationalization -

Lehman CDS Wipeout
Topic: Business 12:00 am EDT, Oct 11, 2008

So the final results from the Lehman Brothers CDS auction are in, and they're even uglier than expected. Finally price is 8.625 cents on the dollar.

Things are even worse than expected...

Lehman CDS Wipeout

America the Banana Republic: Politics & Power:
Topic: Society 8:55 pm EDT, Oct 10, 2008

The ongoing financial meltdown is just the latest example of a disturbing trend that, to this adoptive American, threatens to put the Land of the Free and Home of the Brave on a par with Zimbabwe, Venezuela, and Equatorial Guinea.

Ouch. No sparing the rod in this piece.

America the Banana Republic: Politics & Power:

Gothamist: Wall Street Really Needs Relief
Topic: Humor 8:49 pm EDT, Oct 10, 2008

It has not been a good time on Wall Street, and now it's gotten even lower

The photo trifecta.... check it out.

Gothamist: Wall Street Really Needs Relief

David C. Iglesias: Dangerous New Turn in Justice Department Investigation
Topic: Politics and Law 12:50 pm EDT, Oct 10, 2008

No longer just a civil matter to blithely ignore, this ominous development could result in current and high level officials being indicted for crimes. I suspect the special counsel will "follow the emails" in the way that "follow the money" brought down Nixon's men during Watergate.

I'd like to know what Iglesias thinks about the potential for RICO charges coming out of all this.

David C. Iglesias: Dangerous New Turn in Justice Department Investigation

Dow plunges 679 to fall to lowest level in 5 years: Financial News - Yahoo! Finance
Topic: Business 8:40 pm EDT, Oct  9, 2008

"Investors are just saying, get me out at any price."

That sentence is literally, the start of the run. What happens next is anyone's guess, but here are my guesses for the next week.

Friday the 10th - 300 point rally as some people decide to get back in, and think they're seeing bargains.
Monday - Another 5-600 point nosedive as people have the weekend to find out how horribly they're still exposed.
Tuesday - The DOW dips below 8000, but finishes above for the day.
Wednesday - Panic.

Friday the 17th - Brokers start jumping from ledges.

Dow plunges 679 to fall to lowest level in 5 years: Financial News - Yahoo! Finance

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