Financial Crisis

[midas]

flying i know you like this subject.... have you seen this list ?

Troubled Bank List as of 09/30/2010

http://bankimplode.c...oubledbanks.htm

Blimey, there are more banks in the States than Big M Golden Arches.

:lol: yes and they have drive banks through as well

Edited August 31, 2011 by midas

[BEENTHEREDONETHAT]

Heheheh I wanna go back in time to when things actually worked.

Let me know when you're leaving and I'll tag along.

Will do BTDT...All we need is to generate the 1.21 gigawatts of electricity for the flux capacitor

OK but I hope I don't have to wear that hat

[Naam]

my 2 Satangs to the financial crisis (as irrelevant as 90% of the postings in this thread):

the S&L crisis and the closure of more than 700 bullshit banks across the Yewnighted™ States provided me with the opportunity of a lifetime. the federal government established the Resolution Trust Corporation which took over all the fancy collectibles and valuables the banksters amassed in their offices. most of these items were later sold in "no minimum price and bid" auctions.

a big advantage was that the clientele at these auctions were mostly ignorants who were bidding for a colourful machine-made silk rug a multiple of its value but were not interested in old Taebris, Kirman or Ghoum which i picked up for a few hundred dollars each.

same, same and not at all different happened as far as sculptures and paintings were concerned. some shitty bronze cowboys or injuns on horses sold like hot dogs, but hardly anybody was interested in ivory-clad sculptures, asian (gook&chink art) collectibles or hand-signed Picassos and Miros with certificates of authenticity.

[BEENTHEREDONETHAT]

my 2 Satangs to the financial crisis (as irrelevant as 90% of the postings in this thread):

the S&L crisis and the closure of more than 700 bullshit banks across the Yewnighted™ States provided me with the opportunity of a lifetime. the federal government established the Resolution Trust Corporation which took over all the fancy collectibles and valuables the banksters amassed in their offices. most of these items were later sold in "no minimum price and bid" auctions.

a big advantage was that the clientele at these auctions were mostly ignorants who were bidding for a colourful machine-made silk rug a multiple of its value but were not interested in old Taebris, Kirman or Ghoum which i picked up for a few hundred dollars each.

same, same and not at all different happened as far as sculptures and paintings were concerned. some shitty bronze cowboys or injuns on horses sold like hot dogs, but hardly anybody was interested in ivory-clad sculptures, asian (gook&chink art) collectibles or hand-signed Picassos and Miros with certificates of authenticity.

OK I'll bite, what is a Taebris, Kirman or Ghoum. I googled it and they didn't know. ask the wife and she said it had nothing to do with sewing, I don't think it relates to fishing, so we are narrowing it down.

Edited August 31, 2011 by BEENTHEREDONETHAT

[Naam]

OK I'll bite, what is a Taebris, Kirman or Ghoum

[BEENTHEREDONETHAT]

OK I'll bite, what is a Taebris, Kirman or Ghoum

Very nice. Are they Persian? The city of Ghom is 150 K south of Tehran. Kirman is in Persia. The wife looks thing up when she isn't sewing.

[Naam]

Are they Persian?

yes, but pre-Mullah period

addendum: the rugs in my home are different. these are just some sample pictures from "google images".

Edited August 31, 2011 by Naam

[midas]

Are they Persian?

yes, but pre-Mullah period

addendum: the rugs in my home are different. these are just some sample pictures from "google images".

But when what good are those ?you won't be able to eat those ?

And it almost puts you in the same category as this dear lady

Woman Pays $10,000 for Non-Visible Artwork

http://www.odditycentral.com/news/woman-pays-10000-for-non-visible-artwork.html

Edited August 31, 2011 by midas

[Naam]

But when what good are those ? you won't be able to eat those ?

discussing (slightly above average) life style with a rice farmer is as impossible as squaring a circle.

[Naam]

back to the topic of the thread "financial crisis" which seems to have hit Viet Nam too.

the Mrs just booked one week

-presidential suite, size150m², in a 5-star hotel in Hanoi USD 399.- per night

featuring:

In room check in & check out

Choice of Buffet Breakfast for two in Le Soie Restaurant or A La Carte breakfast in room

Choice of Exclusive dinner with a bottle of champagne in Bellisimo Restaurant or in room service

Complimentary Packing/Unpacking service

Personal butler available 24HRS a day for the duration of your stay

Complimentary laundry & pressing of garments

Amazing bouquet of Flowers and Hotel Gift

VIP ticket to enjoy the show of water puppet including transportation for two

Complimentary House Cocktails upon arrival

Relax the body, sooth the soul, and lift the spirit at the best day spa in Hanoi with:

30 minutes Rose Bathing for two

60 minutes personalised massage for two (Choice of Aromatherapy or Traditional Vietnamese Body massage or Foot massage)

60 minutes natural facial massage for two

Spa manicure or pedicure for two

Round trip airport transportation

Check In/Out at the time of your leisure

Free internet access in room and wifi throughout the hotel

Complimentary use of GYM, Jacuzzi & Steam, Sauna

Complimentary usage of Business Center service including computer, incoming fax.

[midas]

But when what good are those ? you won't be able to eat those ?

discussing (slightly above average) life style with a rice farmer is as impossible as squaring a circle.

well you've got me there

BUT.....

“I reject your reality and substitute it for my own.”

Adam Savage

Edited August 31, 2011 by midas

[Naam]

i reject the life style of a Savage and prefer to eat my steak grilled instead of wolfing it down raw. Kobe steak is the exception to prove my rule.

come to think of it Midas... do you have also some thoughts of your own?

your repeated quotings of various clowns persons who have not been introduced to me let me believe that the answer to my question is "no".

Edited August 31, 2011 by Naam

[midas]

i reject the life style of a Savage and prefer to eat my steak grilled instead of wolfing it down raw. Kobe steak is the exception to prove my rule.

come to think of it Midas... do you have also some thoughts of your own?

your repeated quotings of various clowns persons who have not been introduced to me let me believe that the answer to my question is "no".

ermmm....... " Hope for the best, but prepare for the worst."

[midas]

I wonder whose interests come first- the residents who complain about having

prostitutes walking past their properties or the politicians who want to collect taxes?

Sex Tax Machine Introduced for Bonn Prostitutes

http://www.spiegel.de/international/germany/0,1518,783438,00.html

[midas]

Goldman Takes a Dark View

" A top Goldman Sachs Group Inc. strategist has provided the firm's hedge-fund clients with a particularly gloomy economic outlook and suggestions for how these traders can take advantage of the financial crisis in Europe.

In a 54-page report sent to hundreds of Goldman's institutional clients dated Aug. 16, Alan Brazil—a Goldman strategist who sits on the firm's trading desk—argued that as much as $1 trillion in capital may be needed to shore up European banks; that small businesses in the U.S., a past driver of job production, are still languishing; and that China's growth may not be sustainable. "

http://online.wsj.com/article/SB10001424053111903895904576542703587784540.html

[flying]

Goldman Takes a Dark View

They aren't the only ones....

Funny too that the anniversary Sept 16th 2008 of the start may be close albeit 3 years later to the remix. Seems many

chart & cycle types see a major low coming in Sept with a couple month recovery rally.

Then the real fun begins in earnest.

Think of it as a horoscope/fortune cookie. Will be interesting to see afterward if it was accurate or not.

I will be happy if they are wrong but not surprised if they are right.

We have seen pretty much everything thrown at this recession/depression/what ever they call it, but the kitchen sink & what has been repaired not propped/delayed?

[Naam]

I wonder whose interests come first- the residents who complain about having

prostitutes walking past their properties or the politicians who want to collect taxes?

i wonder how that "sex tax" is related to the "financial crisis"

[12DrinkMore]

I wonder whose interests come first- the residents who complain about having

prostitutes walking past their properties or the politicians who want to collect taxes?

i wonder how that "sex tax" is related to the "financial crisis"

Very relevant. They are hoping that the ladies are getting enough business to bail out the Greeks.

[Naam]

I wonder whose interests come first- the residents who complain about having

prostitutes walking past their properties or the politicians who want to collect taxes?

i wonder how that "sex tax" is related to the "financial crisis"

Very relevant. They are hoping that the ladies are getting enough business to bail out the Greeks.

the "ladies" are paying only a flat rate. the charge should be per &*)^^%

[midas]

I wonder whose interests come first- the residents who complain about having

prostitutes walking past their properties or the politicians who want to collect taxes?

i wonder how that "sex tax" is related to the "financial crisis"

I would expect that reaction from someone who dines on Kobe steak and buys Taebris, Kirman or Ghoum

[Naam]

I wonder whose interests come first- the residents who complain about having

prostitutes walking past their properties or the politicians who want to collect taxes?

i wonder how that "sex tax" is related to the "financial crisis"

I would expect that reaction from someone who dines on Kobe steak and buys Taebris, Kirman or Ghoum

correction: not "buys" but "bought". the purchase of oriental rugs is usually limited by the floor area of a home. but in my home in Germany i had some of them hanging from walls.

[12DrinkMore]

Well, those wide boys in the city are looking to make the recession even worse.

http://www.bloomberg...s-overseas.html

Banks could record as much as 30 percent of the value of their trades through Hong Kong, Singapore and other jurisdictions instead of hubs such as London and New York without running into trouble with regulators, Matten said. Such a move would hurt traditional hubs such as London because assets are treated for tax and regulatory purposes in the country where they are booked. It would also allow banks to sidestep the U.K. bank levy, introduced last year to raise 2.5 billion pounds ($4.1 billion) from lenders operating in Britain, as well as any financial transaction tax imposed by the European Union

Oh dear!

What a bloody cheek. Who, indeed would have thought all those scallywags, after taking the profits, destroying the economy and then taking the bail outs, would even have considered ways to maximise their profits by avoiding tax?

This will put a BIG spoke in the wheel of the schoolboys; George and David.

Maybe they won't be so willing to bend over backwards for the banking industry in the future? The politicians fall for it time and time again

Edited September 1, 2011 by 12DrinkMore

[midas]

Well, those wide boys in the city are looking to make the recession even worse.

http://www.bloomberg...s-overseas.html

Banks could record as much as 30 percent of the value of their trades through Hong Kong, Singapore and other jurisdictions instead of hubs such as London and New York without running into trouble with regulators, Matten said. Such a move would hurt traditional hubs such as London because assets are treated for tax and regulatory purposes in the country where they are booked. It would also allow banks to sidestep the U.K. bank levy, introduced last year to raise 2.5 billion pounds ($4.1 billion) from lenders operating in Britain, as well as any financial transaction tax imposed by the European Union

Oh dear!

What a bloody cheek. Who, indeed would have thought all those scallywags, after taking the profits, destroying the economy and then taking the bail outs, would even have considered ways to maximise their profits by avoiding tax?

This will put a BIG spoke in the wheel of the schoolboys; George and David.

Maybe they won't be so willing to bend over backwards for the banking industry in the future? The politicians fall for it time and time again

Oh dear prostitution meters next coming to King's Cross?

[Wrong Turn]

Please click the link to this article and give my your opinion folks. The European banks are inter-connected in our connected world.

Market crash 'could hit within weeks', warn bankers

A more severe crash than the one triggered by the collapse of Lehman Brothers could be on the way, according to alarm signals in the credit markets.

The cost of insuring RBS bonds is now higher than before the taxpayer was forced to step in and rescue the bank in October

By Harry Wilson, and Philip Aldrick

24 Aug 2011

Insurance on the debt of several major European banks has now hit historic levels, higher even than those recorded during financial crisis caused by the US financial group's implosion nearly three years ago.

Credit default swaps on the bonds of Royal Bank of Scotland, BNP Paribas, Deutsche Bank and Intesa Sanpaolo, among others, flashed warning signals on Wednesday. Credit default swaps (CDS) on RBS were trading at 343.54 basis points, meaning the annual cost to insure £10m of the state-backed lender's bonds against default is now £343,540.

The cost of insuring RBS bonds is now higher than before the taxpayer was forced to step in and rescue the bank in October 2008, and shows the recent dramatic downturn in sentiment among credit investors towards banks.

"The problem is a shortage of liquidity – that is what is causing the problems with the banks. It feels exactly as it felt in 2008," said one senior London-based bank executive.

"I think we are heading for a market shock in September or October that will match anything we have ever seen before," said a senior credit banker at a major European bank.

http://www.telegraph.co.uk/finance/financialcrisis/8721151/Market-crash-could-hit-within-weeks-warn-bankers.html

Edited September 1, 2011 by Wrong Turn

[flying]

Please click the link to this article and give my your opinion folks. The European banks are inter-connected in our connected world.

"I think we are heading for a market shock in September or October that will match anything we have ever seen before," said a senior credit banker at a major European bank.

As I said yesterday...

Things are looking shakier & shakier...

It will not be much of a surprise

[flying]

18 minutes but seems like plausible reason as to why the markets are now nothing more than casinos

[Naam]

Well, those wide boys in the city are looking to make the recession even worse.

http://www.bloomberg...s-overseas.html

Banks could record as much as 30 percent of the value of their trades through Hong Kong, Singapore and other jurisdictions instead of hubs such as London and New York without running into trouble with regulators, Matten said. Such a move would hurt traditional hubs such as London because assets are treated for tax and regulatory purposes in the country where they are booked. It would also allow banks to sidestep the U.K. bank levy, introduced last year to raise 2.5 billion pounds ($4.1 billion) from lenders operating in Britain, as well as any financial transaction tax imposed by the European Union

Oh dear!

What a bloody cheek. Who, indeed would have thought all those scallywags, after taking the profits, destroying the economy and then taking the bail outs, would even have considered ways to maximise their profits by avoiding tax?

This will put a BIG spoke in the wheel of the schoolboys; George and David.

Maybe they won't be so willing to bend over backwards for the banking industry in the future? The politicians fall for it time and time again

they don't fall for it, they don't have a choice. regulators should have stepped in years ago. nowadays nobody can touch the banksters.

[vpi78]

Financial crisis? What financial crisis?

My Bank of America stock has increased 15% in less than a week. Good on ya Warren.

Let's see ... Go with Thai Visa Pundits or Warren Buffet.

I am going to risk it and go with WB.

[churchill]

[12DrinkMore]

Financial crisis? What financial crisis?

My Bank of America stock has increased 15% in less than a week. Good on ya Warren.

Let's see ... Go with Thai Visa Pundits or Warren Buffet.

I am going to risk it and go with WB.

I wonder if you have the same deal as WB?

Under the terms of the deal, Berkshire will buy $5 billion of preferred stock that pay a 6 percent annual dividend, and receive warrants for 700 million shares that it can exercise over the next 10 years. Bank of America has the option to buy back the preferred shares at any time for a 5 percent premium

If not, then you will lose everything before WB is down a single cent.

Edited September 2, 2011 by 12DrinkMore