Skip to main content

Posts

Showing posts from November 23, 2008

What?? I'm just surfing teh blogz!!

Scariest Headline Since...

Economy shrinking, home prices drop by record amount No wonder I've been having dreams about being in my old Air Force uniform... oh, and the occasional lost-in-the-mall, naked at school Apocalypse dreams too...

God's douchebag cheerleaders...

Wow. We atheists, agnostics, and even people, who don't buy into the theological and divisive nonsense pushed by excessive book-thumpers like the above douchebags are "teh enemy!!" These angry charlatans who obviously suffer from extreme inferiority complexes attempt to hijack Christianity for a really stupid and narrow homophobic and authoritarian cause, will ironically be the undoing of their religion.

Electrons & Photons Riot in front of World's Banks

22 US banks collapsed this year Apparently Citibank (aka Citigroup ) is next ... I'm guessing the only reason we aren't seeing literal "runs on banks," in the US, aside from the fact most Americans have no savings to worry about and are too lazy or fat to form a line these days, but that it is just taking place in the world of the infinitesimally small, the electrons and photons screaming about on the billions of miles of copper wires and fiber lines, instead of mobs in the bank's lobbies. A Quantum Quandry, no? England's Northern Rock, when it collapsed saw a "run," but it went largely unnoticed by mainstream media (don't want to panic folks) ... wonder if that will continue?

The Reckoning

In September 2007, with Wall Street confronting a crisis caused by too many souring mortgages, Citigroup executives gathered in a wood-paneled library to assess their own well-being. There, Citigroup ’s chief executive, Charles O. Prince III , learned for the first time (emphasis added) that the bank owned about $43 billion in mortgage-related assets. He asked Thomas G. Maheras , who oversaw trading at the bank, whether everything was O.K. Mr. Maheras told his boss that no big losses were looming, according to people briefed on the meeting who would speak only on the condition that they not be named. Oh, and it just gets better and better . But seriously, this isn't really funny at all. Unless you are sitting on a pile of gold and are loaded for bear, the next couple of years look to be, um, troublesome. Citigroup is poised to make the failure of AIG and Lehman Bros look like walk in the park. Oh, and what's Emperor Nero doing? That wanker is probably watching ESPN and sc