Friday, September 30, 2011

Are these salaries fair, unfair or just right?

Income inequality: Who deserves much less and who deserves much more?

Why do some people who do little good get salaries for life, while those who are truly heros have trouble supporting their families while risking their lives to protect ours?

I challenge anyone to document the accomplishments of the majority of politicians that could justify the salary and benefits for life that we are paying them!

H/T TLS

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20,000 heat-seeking surface-to-air missiles go missing in Libya! (ABC News video)


A leadership vacuum and neglected weapons caches in Libya leads to open season on heat-seeking surface-to-air missiles!

A report says that upwards of 20,000 heat-seeking, surface-to-air missiles are missing from Libya. These missiles, in the wrong hands, could be used to bring down commercial jetliners landing or taking off from as far as two miles away.

The rebels who ousted Gaddafi are a diverse group with undoubtedly a good number of al-Qaeda sprinkled throughout their ranks. When these rebels say they don't know who has taken these missiles it is more than likely that some of their own are responsible.

These are the same rebels with truly unknown intentions who now say that they will do what they can to safeguard the weapons that have been left behind.

So ABC News tips us off to the problem and the White House response is that they will send more people to Libya to help secure the weapons storage sites.

Sounds like that horse is already out of that barn Mr. President!

Perhaps if the Obama administration spent as much time and energy securing our nation as they do campaigning around the country at the taxpayers expense this situation would have been addressed before it became a potential national security nightmare.

video platformvideo managementvideo solutionsvideo player

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Thursday, September 29, 2011

Jose Reyes says: Take me out of the ballgame... (Sports quiz)


Jose Reyes of the NY Mets gets hit in first at bat and then asks out of the game to win the NL batting title!

A blow to the idea of sportsmanship and a bad example for the kids or just business as usual in an era where the me in sports is greater than the we?

Question: Jose Reyes taking himself out of the ball game in an attempt to win the National League batting title was:

A) Good strategy for the NL batting title race
B) Bush league move
C) Smart monetary move for free agency
D) A and C
E) B and C

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Massachusetts Muslim man arrested: Just another "coincidence" in the global war on terror?


Another chink in the argument against profiling as an American Muslim man from Massachusetts is arrested in a plot to blow up the Pentagon and US Capitol!

An American Muslim man from Ashland was arrested in a sting operation in which he was attempting to buy explosives to place in unmanned drones. The targets for these drones are said to have been the Pentagon and the US Capitol.

Rezwan Ferdaus was trying to purchase C-4 explosives, grenades and AK-47 assault rifles when he was arrested and the drones he planned to use in his attack were relatively small and extremely fast.

During the sting he is reported to have repeatedly said that his desire to kill Americans stemmed from the fact that they are the "enemies of Allah."

Is the fact that he is Muslim a coincidence or central to this case as well as to the case for profiling in the United States?

The mainstream media versus the blogosphere!

"A 26-year-old Massachusetts man has been arrested and accused of plotting to destroy the Pentagon and the U.S. Capitol with large remote-controlled aircraft filled with explosives..." (AP)

Doing a Google search to read up on the arrest I found that the majority of those willing to invoke the terms Muslim, jihad and al-Qaeda style attack as a major factor behind the case of Ferdaus tended to be from around the blogosphere and not the more traditional media.

What this tells me is that Americans who look to the MSM for their news and information will continue to not fully understand the scope and breadth of the enemy we face in the global war on terror.

Potential headline: Massachusetts man of Muslim faith attempts to purchase weapons for an al-Qaeda style attack on the United States

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Guest Post: 3,000 TIMES LEVERAGE...HIDDEN - the single handed cause of the housing (price and overbuilding) bubbles and financial crisis...


This was an email sent to me by Chris McConnell of Fiduciary Forensics in which he gives his views on how the economy and financial system arrived at the point we find ourselves now.

Saturday, September 24, 2011

Hi Martin, Hi Mike,

Please disabuse your readers of anything else as THE root cause of the current economic and or financial crisis.

TBTF banks kept a massive secret from other market players, and regulators. In academic circles it’s called an “information advantage”

Joseph Stiglitz won a Nobel Prize for it in 2001.

"Market economies are characterized by a high degree of imperfections," Stiglitz said during a press conference held at Columbia. "Older models assumed perfect information, but even small degrees of information imperfections can have large economic consequences. Our models took into account asymmetries of information, which is another way of saying 'Some people know more than others.'

The following saying is not intended to be subtle, “if you want to play on the varsity team you work at Goldman or Morgan Stanley; underachievers take jobs at ratings agencies…(and the bankers know this - as they once competed with them in grad / business school)”

TBTF banks – step one was, due to rapidly declining profits from traditional revenues streams like commissions, M&A and investment banking changed their business model, as Morgan Stanley’s John Mack stated to Stanley Druckenmiller in 2003 “the agency business model is dead” from one of financial intermediation to non-intermediation: meaning proprietary trading - THE destination for Morgan Stanley and others:

Let’s call a spade a shovel because that’s what it is. I’ve determined that based on an end-to-end analysis of the housing and mortgage finance markets, spanning mortgage origination to securitization and distribution, that before 2008 a real, real estate market did not exist. As “market” is defined as a transaction among arms length, different and informed buyers and sellers.

TBTF banks, before 2008 created a hidden, secret “market” for MBS:

  1. As stated above TBTF banks changed from financial intermediaries to non-intermediaries via their prop trading units into speculators;
  2. Hiding (the FDIC used the word concealed) trillions of MBS off balance sheet;
  3. Allowing their own internal prop traders to value #1 (legal under the SEC’s 2004 CSE program) despite the fact few if any, of #1 had EVER seen the light of any “market” trade as one between arms-length parties;
  4. Why? To maximize SAME prop traders’, managers’ and CEOs’ cash bonus checks;
  5. All based on the assumption (almost a religious belief) that national median home prices had NEVER gone down – true, as you may recall;
  6. But the past was under a 60 times house finance leverage regime (20% down payments, verified job, income assets and 12 times bank balance sheet leverage)
  7. TBTF Banks’ single handedly created 3,000 times leverage on house prices, the underlying collateral of any MBS and or further derivative
  8. 3,000 times leverage is the product of Zero down loans; 100 times leverage for the borrower and 30 or more times TBTF bank on and off balance sheet leverage;
  9. Mr Bass testified to the FCIC in January 2010 that TBTF banks’ leverage at the end of 2007 – yes end of 2007 (see page 13 of pdf attached) – almost all over 30 times, Citigroup at 68 times leverage; meant an adverse swing (in the value of the underlying collateral) of 1.5% wiped them out – insolvent.
  10. And we know that leverage worsened IN 2008…and we know from Goldman’s collateral call dispute with AIG (attached) that MBS marks (not even CDO’s) were south of 90…
  11. Martin, it’s not about Fannie or Freddie either; they were downstream of information from the TBTF banks – again TBTF banks held trillions of MBS, in secret OFF balance sheet; I’m not saying it was necessarily illegal – but it was fraudulent; as it was knowing, willful and intentional. It only went on as long as it did – BECAUSE they were hidden.

Along the way EVERY mortgage borrower was defrauded due to the concealment of #1 and every other party connected to mortgage borrowers (including real estate agents, appraisers, mortgage brokers, some originators, home builders, developers, cities, states, and I believe the ratings agencies.)

[Ask your neighbors, mortgage borrowers and their agents, appraisers, title insures what leverage means; ask them if they know that putting 20% down is 5 times leverage and ZERO down is 100 times leverage. It’s my belief that the overwhelming, if not nearly all mortgage borrowers do not understand their own leverage let alone how banks leverage their balance sheets. This points to the root information (really education) advantage and TBTF banks knew who they were dealing with – all along.]

Who knew what and when did they know it?

Watergate, and now at certain if not all TBTF banks.

There’s more but that’s probably enough for now.

Again – Before 2008, a real, Real Estate market did not exist; lather, rinse, repeat…

Please join me in reporting the REAL indispensable reason; it’s not that difficult; in fact it’s obvious given the Fed’s direct and indirect support; bailouts, QE trifecta now amounting to nearly $20T. Is there perhaps a small connection to the fact that from 2001 to 2008 $17 Trillion (not a typo) of MBS were issued? I’m not even counting the hundreds billions or trillions of CDOs and knock on derivatives

If you want further evidence that TBTF banks hoodwinked even from the Federal Reserve chairman, world’s chief banking regulator – see link:

“One year, One Trillion Dollars – the education of Ben Bernanke 2007 to 2008…”

Regards,

Chris

Ps: Martin, you’re not dreaming – we just continue to enable it and allow it to happen; and Mike, no it’s not the Roman empire; correct analysis and resulting information will trump all else; sunlight (the dawn of information) disinfects all markets; and it’s always darkest before the dawn regarding dream, nightmare feelings.

Pps: 3,000 times leverage is an estimate as not all mortgages were zero down; just several million too many; not to mention “every app was approved” underwriting. But we do know that 60 times leverage (on house price) was the norm for decades; also called safety and soundness; and we also know that TBTF banks’ leverage, assuming their year end 2007 marks were accurate, when the Goldman AIG dispute timeline suggests otherwise, are understated, correct understated. Again, the pressing need for CASH infusions from the Fed, UST in 2008/9, and kinder, gentler accounting treatment courtesy of SEC/FASB.

Chris McConnell, FiduciaryForensics

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Wednesday, September 28, 2011

A tale of sex Jewish style!

Old Jewish sex story 



No matter what this husband did in bed, his wife never achieved an orgasm.
Since by Jewish law a wife is entitled to sexual pleasure, they decide to
consult their Rabbi.



The Rabbi listens to their story, strokes his beard, and makes the
following suggestion: 'Hire a strapping young man. While the two of you are
making love, have the young man wave a towel over you. That will help your
wife fantasize and should bring on an orgasm.'



They go home and follow the Rabbi's advice. They hire a handsome young man
and he waves a towel over them as they make love. It does not help and the
wife is still unsatisfied. Perplexed, they go back to the Rabbi.



"Okay,' he says to the husband, "Try it reversed. Have the young man make
love to your wife and you wave the towel over them."



Once again, they follow the Rabbi's advice.. They go home and hire the same
strapping young man.



The young man gets into bed with the wife and the husband waves the towel.
The young man gets to work with great enthusiasm and soon she has an
enormous, room-shaking, ear-splitting screaming orgasm.



The husband smiles, looks at the young man and says to him triumphantly,
"See that, you schmuck? THAT'S how you wave a towel."

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A liberals-eye view of national security and of the Haqqani network!


Who and what is the Haqqani network and what is its relationship to the ISI and the government in Pakistan?

Before presenting an article that describes the dangerous and illogical way in which the left views US national security, this is a brief description of the Haqqani network from the website of Sen. Mark Kirk (R-Ill) .

Just yesterday the Taliban claimed control of the group and stated that the Pakistani government plays no role. The last time I checked, however, we don't get our credible information from Taliban statements.

The Haqqani network

"Since 2001, the United States has steadily worn down the operational resources and capabilities of al-Qaeda and the Taliban in Afghanistan. A strategy of ground, air, and special operations efforts is yielding significant successes in Afghanistan. Despite our successes against these two adversaries, a new face of terror in Afghanistan is emerging. The Haqqani network, whose origins lie in the anti-Soviet resistance, supported the construction of training and operational facilities in Eastern Afghanistan for the mujahedeen that were later used by al-Qaeda. In 1995 the network was recruited by the Pakistani Inter-Services Intelligence (ISI) to support the Taliban and its fight to establish an Islamic fundamentalist regime. As a result of this longstanding relationship, the ISI continues to view the Haqqani network as its most reliable regional proxy.

The Haqqani network and its attacks against U.S., Afghan, and allied interests continue to receive support from the ISI in support of this goal. The ISI protects and finances Haqqani’s activities, and provides it sanctuary in Haqqani’s hometown of Miram Shah in North Waziristan. The ISI also provides the Haqqani network advance warning of drone attacks against its leadership and operations in North Waziristan, most recently against its bomb-making facilities in Western Pakistan. The Haqqani network’s expansion into Kurram Agency, a strategic Pakistani province only 90 kilometers from Kabul and beyond the scope of a majority of US drone activities has gone unchecked by the Pakistani government. There is some evidence to suggest that Pakistani military intervention in Kurram Agency has actually aided the expansion and stabilization of a sanctuary for Haqqani operations. In exchange for this active support, the Haqqani network serves as a proxy force and trusted mediator for Pakistani interests in Afghanistan, and within Pakistan itself..." (More here)

Is the Haqqani Network an orchestrated threat being conjured up by the US government as the pretense for going to war with Pakistan, as the article below suggests?

Or, does the Haqqani Network pose the same level threat as al-Qaeda did with the difference being that this group is acting in concert with a government possessing a nuclear arsenal?

The answer is that Pakistan is potentially a huge US national security problem from a variety of different angles, not the least of which are its ties to Islamic extremists and the probable presence of these Islamic extremists up and down the organizational chart of the Pakistani government!

GlobalResearch.ca would like you to think that the Haqqani network is simply the ammunition to be used for an invasion of Pakistan!

"Have you ever before heard of the Haqqanis? I didn’t think so. Like Al Qaeda, about which no one had ever heard prior to 9/11, the “Haqqani Network” has popped up in time of need to justify America’s next war--Pakistan.

President Obama’s claim that he had Al Qaeda leader Osama bin Laden exterminated deflated the threat from that long-serving bogyman. A terror organization that left its leader, unarmed and undefended, a sitting duck for assassination no longer seemed formidable. Time for a new, more threatening, bogyman, the pursuit of which will keep the “war on terror” going.

Now America’s “worst enemy” is the Haqqanis. Moreover, unlike Al Qaeda, which was never tied to a country, the Haqqani Network, according to Admiral Mike Mullen, chairman of the US Joint Chiefs of Staff, is a “veritable arm” of the Pakistani government’s intelligence service, ISI. Washington claims that the ISI ordered its Haggani Network to attack the US Embassy in Kabul, Afghanistan, on September 13 along with the US military base in Wadak province.

Senator Lindsey Graham, a member of the Armed Services committee and one of the main Republican warmongers, declared that “all options are on the table” and gave the Pentagon his assurance that in Congress there was broad bipartisan support for a US military attack on Pakistan.

As Washington has been killing large numbers of Pakistani civilians with drones and has forced the Pakistani army to hunt for Al Qaeda throughout most of Pakistan, producing tens of thousands or more of dislocated Pakistanis in the process, Sen. Graham must have something larger in mind.

The Pakistani government thinks so, too. The Pakistani prime minister,Yousuf Raza Gilani, called his foreign minister home from talks in Washington and ordered an emergency meeting of the government to assess the prospect of an American invasion.

Meanwhile, Washington is rounding up additional reasons to add to the new threat from the Haqqanis to justify making war on Pakistan: Pakistan has nuclear weapons and is unstable and the nukes could fall into the wrong hands; the US can’t win in Afghanistan until it has eliminated sanctuaries in Pakistan; blah-blah..." (Read more here)

If the enemy wasn't problem enough!

So are the Pakistani government, the ISI and the Haqqani network merely a figment of the war mongerers imagination or do they pose a clear and present danger to the United States and our true friends and allies?

The answer is clear but there will always be those who are simply too blind to see!

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After reading these facts about President Obama, would you really reelect this guy?


Update 6:08 AM: Before you get to the list, ironically I just received the picture below. Timing is everything! H/T IOwnTheWorld




Would you vote to reelect a man president who presented this resume of accomplishments achieved from only a partially completed first term?

I have seen this email before, but it is worth another look!

Given the fact that we are already knee-deep into the 2012 presidential campaign it is critical to keep reminding those independents and on-the-fence Democrats who might still vote for Obama exactly what he has done for (to) the country!

If after reading this someone would still pull the lever for Barack Obama...

Would you reelect this man dog catcher let alone commander-in-chief?

*If any other past president had doubled the national debt, which had taken more than two centuries to accumulate, in one year, would you have approved?*

*If any other past president had then proposed to double the debt again within 10 years, would you have approved? *

*If any other past president had criticized a state law that he admitted he never even read, would you think that he is just an ignorant hot head? *

*If any other past president joined the country of Mexico and sued a state in the United States to force that state to continue to allow illegal immigration, would you question his patriotism and wonder who's side he was on? *

*If any other past president had pronounced the Marine Corps like Marine Corpse, would you think him an idiot? *

*If any other past president had put 87,000 workers out of work by arbitrarily placing a moratorium on offshore oil drilling on companies that have one of the best safety records of any industry because one foreign company had an accident, would you have agreed? *

*If any other past president had used a forged document as the basis of the moratorium that would render 87000 American workers unemployed would you support him? *

*If any other past our president had been the first President to need a Teleprompter installed to be able to get through a press conference, would you have laughed and said this is more proof of how inept he is on his own and he is really controlled by smarter men behind the scenes? *

*If any other past president had spent hundreds of thousands of dollars to take his First Lady to a play in NYC, would you have approved? *

*If any other past president had reduced your retirement plan holdings of GM stock by 90% and given the unions a majority stake in GM, would you have approved? *

*If any other past president had made a joke at the expense of the Special Olympics, would you have approved? *

*If any other past president had given Gordon Brown a set of inexpensive and incorrectly formatted DVDs, when Gordon Brown had given him a thoughtful and historically significant gift, would you have approved?*

*If any other past president had given the Queen of England an iPod containing videos of his speeches, would you have thought it a proud moment for America ?*

*If any other past president had bowed to the King of Saudi Arabia would you have approved? *

*If any other past president had visited Austria and made reference to the nonexistent "Austrian language," would you have brushed it off as a minor slip? *

*If any other past president had filled his cabinet and circle of advisers with people who cannot seem to keep current in their income taxes,
would you have approved?*

*If any other past president had stated that there were 57 states in the United States, wouldn't you have had second thoughts about his capabilities? *

*If any other past president had flown all the way to Denmark to make a five minute speech about how the Olympics would benefit him walking out his front door in his home town, would you not have thought he was a self-important, conceited, egotistical jerk. *

*If any other past president had been so Spanish illiterate as to refer to "Cinco de Cuatro" in front of the Mexican ambassador when it was the 5th of May (Cinco de Mayo), and continued to flub it when he tried again, wouldn't you have winced in embarrassment? *

*If any other past president had burned 9,000 gallons of jet fuel to go plant a single tree on Earth Day, would you have concluded he's a hypocrite?*

*If any other past president's administration had okayed Air Force One flying low over millions of people followed by a jet fighter in downtown Manhattan causing widespread panic, would you have wondered whether they actually get what happened on 9-11? *


*If any other past president had failed to send relief aid to flood victims throughout the Midwest with more people killed or made homeless than in New Orleans, would you want it made into a major ongoing political issue with claims of racism and incompetence? *


*If any other past president had created the position of 32 Czars who report directly to him, bypassing the House and Senate on much of what is happening in America, would you have ever approved. *

*If any other past president had ordered the firing of the CEO of a major corporation, even though he had no constitutional authority to do so, would you have approved? *

*So, tell me again, what is it about Obama that makes him so brilliant and impressive? *

*Can't think of anything?

Don't worry.

He's done all this in 24 months so you have that much time to come up with an answer.*

*Every statement and action in this email is factual and directly attributable to Barrack Hussein Obama.

Every bumble is a matter of record and completely verifiable. *

AND NOW-

HE ACTUALLY WANTS US TO RE-ELECT HIM.

WAKE UP AMERICA 2012 IS UPON US.

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Tuesday, September 27, 2011

Highly enriched uranium from the old Soviet Union in the hands of North African terrorist groups?


It's like Tinkers to Evers to Chance only this time it goes Soviet Union era HEU to Moldova to North African terrorist groups!

When the Soviet Union fell there were always questions looming regarding its nuclear and biological weapons stockpiles, who was responsible for safeguarding them and whether or not those same people were in the business of selling them to the highest bidder.

The same question could and was asked of the Soviet satellite states and the inventory of weapons the USSR had been keeping in those countries?

Moldova, highly enriched uranium (HEU) from the former Soviet Union and North African terrorist groups makes for a potentially deadly combination!

This is a brief summary from an article at Global Security Newswire with a link at the end to read it in its entirety.

“… Moldovan authorities believe that 2.2 pounds of weapon-usable uranium is held by traffickers who have in the past sought to sell the material to North African buyers…

… Should the existence of a legitimate buyer (or middleman) from a region with a history of terror cells be confirmed, then the case would be substantially more alarming than other recent fissile material interdictions, where official agents were the sole potential buyer…

… At the time of the June sting, the trafficking ring asserted to Moldovan investigators masquerading as interested buyers that they held 20 pounds of highly enriched uranium and some plutonium as well, according to the Lugar report, which was obtained by AP prior to publication. The smugglers were seeking close to $31 million for the uranium. About 60 pounds of HEU material would be required to construct an improvised nuclear device…

…Moldovan investigators think the Russian nuclear material was smuggled through Transnistria, a recognized sanctuary for traffickers. Air travel into the breakaway Moldovan region cannot be tracked and the territory's borders with Ukraine and Moldova are not adequately monitored, according to the Lugar report.” (GSN)

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Comedy Tuesday with NewsBusted (video)

The Obama U.N. photograph gaffe, Obama economic policy, Michelle Obama's taste in jewelry and Tony Bennett's 9/11 thoughts are just a few of the topics covered by Jodi Miller!





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Jonathan E versus Ben Bernanke double feature (movie trailers)

Imagine that nations are bankrupt and corporations control the world!

A world that exists with no borders as countries have lost their viability and have become obsolete through the process of a mass, self induced epidemic of economic failure.

No longer is war waged between nations and their sovereign borders because the world is controlled and run by the boards of directors of multi-national corporations.

The power and greed of these purely economic entities of international businesses have supplanted the much harder to distinguish power and greed mechanism of government.

This metamorphosis in the composition of leadership has occurred largely because governments possess an extremely limited level of competence within any arena where the endgame is economic success.

The majority of these past governmental players were simply out of their league when trying to play a game of economics that had real rules and real stakes due to the fact that their equipment and skills were honed on the theoretical playing fields of academia.

The down and dirty, fight it out in the trenches corporate gladiators of the private sector won out over their Ivory Tower and bureaucratic public sector brethren just about every time.

That was then, this is now: Rollerball versus Four Horsemen

It was 1975 when Rollerball painted the tale of a world controlled and manipulated by corporations through the use of a dirty, violent and deadly game played for keeps that served as a metaphor for society as a whole.

Compare the two trailers below, one for Rollerball and the other for Four Horsemen and tell us if you see any glaring or startling similarities.

Rollerball Trailer


Four Horsemen Trailer


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Monday, September 26, 2011

Video: Don't blame Obama! Who hasn't confused the words Jew and janitor?

In a speech to the Congressional Black Caucus, President Obama somehow confused the words Jew and janitor!

Coincidently, at the time he was ranting about the rich paying their fair share of taxes.



H/T Gateway Pundit

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Best joke of the year?



Or maybe it's not really that funny at all!

Is this joke about immigration and entitlement programs funny or not so funny, particularly given the current economic condition of the United States?

A Russian arrives in New York City as a new immigrant to the United States.

He stops the first person he sees walking down the street and says, "Thank you Mr. American for letting me into this country, giving me housing, food stamps, free medical care, and a free education!"

The passerby says, "You are mistaken, I am a Mexican." The man goes on and encounters another passerby. "Thank you for having such a beautiful country here in America."

The person says, "I not American, I Vietnamese."

The new arrival walks farther, and the next person he sees he stops, shakes his hand, and says, "Thank you for a wonderful America!"

That person puts up his hand and says, "I am from Middle East. I am not American."

He finally sees a nice lady and asks, "Are you an American?"

She says, "No, I am from Africa."

Puzzled, he asks her, "Where are all the Americans?"

The African lady checks her watch and says, "Probably at work."

H/T JF


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Video: Rocking in the Jewish New Year!


Rosh Hashanah, the Jewish New Year

This coming week the Jewish New Year celebration of Rosh Hashanah begins.

One of the holiest holidays in Jewish faith, Rosh Hashanah is a time for introspection. A time to look inside at your prior years actions, make plans to improve on them and to ask G_d to be inscribed in the Book of Life for the coming year.

Rosh Hashanah rock



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Sunday, September 25, 2011

Video: Can I still vote for the white guy?

President Obama and the case of the disappearing base?

What does this all mean for President Obama in the 2012 presidential election, or does it mean anything at all?

Give your thoughts below.


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;