Jr Deputy Accountant

• The Care Bair Loves TBTF, Says Don't Break Them Up

  
  
  
  Sheila, WTF?! I'm going to have to start capping on your ass now, come on, we were cool up until this point.
  
  Reuters:
  
  A top U.S. bank regulator on Tuesday said lawmakers need to be careful about moving forward with' [...]
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  Posted: November 25, 2009, 12:06am EST
  by Jr Deputy Accountant

• The FDIC is In the Red, "But Let's Get Those Loans Going" Says the Care Bair

  
  
  
  The FDIC posted a 3rd quarter loss, gee, that's a surprise to whom? Kill the thing already, that's the only way this particular problem will find a solution. A $500 billion line of "credit" from the Treasury isn't going to do it, nor' [...]
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  Posted: November 24, 2009, 3:42pm EST
  by Jr Deputy Accountant

• "Even a Fake District Needs Real Leadership"

  Number of comments: 0
  
  
  
  Via Now Hampshire:
  
  Republican activist and free market think-tanker Grant Bosse formally declared his candidacy today in New Hampshire’s 00th Congressional District after news that the Obama administration has attributed a majority of the state’s stimulus jobs to that non-existent district.
  [...]
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  Posted: November 24, 2009, 1:11pm EST
  by Jr Deputy Accountant

• Freddie Says TBW Owes It. Uh, Doesn't Freddie Owe the Chinese?

  Number of comments: 0
  pic credit
  and if you don't get it, I'm not explaining it
  
  
  TBW is still a hot story apparently but I haven't looked at it in awhile. Fuck, the Chinese are involved. That means PwC had to fudge the numbers (wild' [...]
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  Posted: November 24, 2009, 11:00am EST
  by Jr Deputy Accountant

• The SEC is Going to Regulate (At Last) But Misses the Real Economic Terrorism By an Inch or Two

  Number of comments: 1
  
  you did it to yourself, Christopher
  
  
  
  I wonder if the SEC has ever heard of the term "too little too late"? It might apply here. Come bring all the SEC goons you have to say regulation is making a comeback, this doesn't' [...]
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  Posted: November 24, 2009, 10:00am EST
  by Jr Deputy Accountant

• Alright, Minneapolis, What's This About Somali Terror Rings?

  Number of comments: 0
  
  
  
  When I'm looking to recruit "youths" to my cause, I always think Minneapolis too.
  
  WTF? Is this getting weird for you all yet? Panzner tried to warn you in Financial Armageddon - I know I listened, fuck the rest of' [...]
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  Posted: November 24, 2009, 9:00am EST
  by Jr Deputy Accountant

• Place Your Bets on Who Can Pay Back TARP

  Number of comments: 0
  
  
  The Fed wants to hear how some of the lagging TARP banks plan to pay that shit off now that the Fed has declared they can. This should work out great.
  
  Have they seen SunTrust lately? Atlanta fucking Fed! Wake up! You [...]
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  Posted: November 24, 2009, 8:00am EST
  by Jr Deputy Accountant

• Okay Seriously, WTF Is Going on With Gold?

  Number of comments: 1
  
  
  
  Excuse me, does this say what I think it says?
  
  WSJ:
  
  Fleets of armored trucks piled with gold bars and coins have been streaming out of midtown Manhattan in one unexpected consequence of the gold craze.
  
  Amid gold's rise [...]
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  Posted: November 24, 2009, 2:06am EST
  by Jr Deputy Accountant

• Information gladly given but safety requires avoiding unnecessary conversation. But Pics of Muni Crooks Will Do

  Number of comments: 0
  
  
  
  WC Varones has broken his Commuting Capitalist cherry and if you see weird shit out there in the world, take a picture of it and show me. If you'd like to contribute to CC, drop me a note. I won't even [...]
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  Posted: November 23, 2009, 11:11pm EST
  by Jr Deputy Accountant

• The United States is About to Get a Lesson in "Adjustable Rate" Deficits. Duck.

  Number of comments: 1
  
  
  
  The United States is about to find out what "adjustable rate" means in deficit terms and it won't be pretty. Yay NYT for busting this one.
  
  NYT:
  
  The United States government is financing its more than trillion-dollar-a-year borrowing with i.o.u.’s' [...]
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  Posted: November 23, 2009, 5:27pm EST
  by Jr Deputy Accountant

• What's This About Low Two Year T-Bill Yields? Buy, Buy, Buy, Bitches!

  Number of comments: 0
  
  
  Trouble in T-bills? Nah, we're still chugging along.
  
  Bloomberg:
  
  The Treasury sold $44 billion of two-year notes at a yield of 0.802 percent, the lowest on record, as demand for the safety of U.S. government securities surges going into year-end.
  [...]
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  Posted: November 23, 2009, 3:44pm EST
  by Jr Deputy Accountant

• Mark Sanford Learns It's Unethical to Fly Off and Disappear to See Your Mistress

  Number of comments: 4
  
  Come on, homie, you should have come up with a good alibi before trotting off to the Trail. Trust me on that one.
  
  AP:
  
  South Carolina Gov. Mark Sanford faces ethics charges he broke state laws more than three dozen times by [...]
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  Posted: November 23, 2009, 3:07pm EST
  by Jr Deputy Accountant

• Via Going Concern: Buy Nothing Day! (You Can't Afford it Anyway)

  Number of comments: 0
  
  
  
  If you’re trying to squeeze in one last section of the CPA exam before December hits, you’ve got four days – a handful more if you’re not running off to see family for Thanksgiving. Are you working through the holiday?
  
  Instead of [...]
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  Posted: November 23, 2009, 1:30pm EST
  by Jr Deputy Accountant

• BART Police are Busting Heads in the East Bay Again

  Number of comments: 2
  
  
  
  I guess it only took us 11 months to forget Oscar Grant. Good job, BART PD.
  
  KTVU Channel 2:
  
  BART officials held a press conference Sunday afternoon in response to a YouTube video that shows a BART police officer pushing [...]
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  Posted: November 23, 2009, 1:00pm EST
  by Jr Deputy Accountant

• Are the Climate Change "Skeptics" Just Getting Worked Up Over Clever?

  Number of comments: 0
  
  
  
  Funny. Where I come from, "trick" actually means someone who whores themselves out for money.
  
  AP:
  
  Kevin Trenberth, of the U.S. National Center for Atmospheric Research, in Colorado, said he believes the hackers who stole a decade's worth of correspondence [...]
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  Posted: November 23, 2009, 11:00am EST
  by Jr Deputy Accountant

• End the Fed: Sunday's Festivities Plus a Monday Sneak Attack in Richmond

  Number of comments: 0
  
  
  Chicago
  
  Cleveland
  
  Cincinnati
  
  Miami
  
  Clearwater (huh?!)
  
  Kansas City
  
  Atlanta (don't worry, we got rained out in SF too)
  
  Detroit
  
  Houston (Ron Paul was out for that one)[...]
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  Posted: November 23, 2009, 2:49am EST
  by Jr Deputy Accountant

• St Louis Fedhead Bullard: We Should Just Keep Buying Up Stuff.

  Number of comments: 0
  
  i'm going to ignore the Geithner ears.
  too easy.
  
  
  James Bullard has seriously gone out of his mind. He's gone, no use trying to reign him back in, he's drifting out there somewhere between monetary madness and lucid dreaming, pushing down the gas' [...]
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  Posted: November 23, 2009, 1:39am EST
  by Jr Deputy Accountant

• End the Fed: a National Day of Protest 11/22/09

  Number of comments: 1
  
  
  
  I will come back with the SF and nationwide ETF wrap-up before too long but for now, who stickered the SF Fed with "End the Fed"?
  
  STOP ZIMBABWE BEN'S REIGN OF TERROR!!!
  
  (great fucking protest, kids. We should do that again' [...]
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  Posted: November 22, 2009, 5:21pm EST
  by Jr Deputy Accountant

• LandAmerica Bankruptcy Update. It's Still Not Over

  Number of comments: 0
  
  
  
  LandAmerica, motherfucker. Hold tight, if you remember this, we'll be coming back around to her in a moment after this LandAmerica bankruptcy update. Uh, indirectly. I don't want to hurt her feelings or anything, if she's paying attention, she probably wonders why [...]
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  Posted: November 22, 2009, 12:00pm EST
  by Jr Deputy Accountant

• Dallas Fedhead Fisher on the Necessity of Excitement and TBTF

  Number of comments: 0
  
  
  
  It doesn't matter how you feel about the Fed (I'm at an End the Fed rally as we speak), you have to admit that Dallas Fed President Richard Fisher - skeeze though he may be - is one hell of a speaker. *fapfapfap* [...]
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  Posted: November 22, 2009, 11:00am EST
  by Jr Deputy Accountant

• A Different Sort of Anti-Fed Protest

  Number of comments: 0
  
  An aerial view of the Fed,
  Life, September 1945
  
  
  
  WSJ shares the tale of a different sort of anti-Fed protest:
  
  In the early 1980s, farmers surrounded the Federal Reserve with tractors to protest the impact of high interest rates [...]
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  Posted: November 22, 2009, 10:00am EST
  by Jr Deputy Accountant

• Happy Early Birthday, Bernanke. Your Gift is Chris Dodd Up Your A$$ets

  Number of comments: 0
  
  
  
  Can you think of a more miserable way to spend the days leading up to your birthday? Told you you should have taken up my invitation to spend our birthday today at Chuck E Cheese, Bernanke. Your loss.
  
  WSJ:
  
  Sen. [...]
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  Posted: November 22, 2009, 8:00am EST
  by Jr Deputy Accountant

• OMFG Al Gore! Global Warming is TOTALLY Fake! (No Really)

  Number of comments: 1
  
  
  
  Did you know global warming is pure bullshit and has been exposed? Mish tells us (h/t WCV). Market Ticker also goes off on the subject. Twice.
  
  Where is Goldman Sachs going to get its cap and trade now, [...]
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  Posted: November 21, 2009, 8:39pm EST
  by Jr Deputy Accountant

• Audit the Fed on End the Fed Weekend? Bah

  Number of comments: 0
  
  Everything is wonderful, shhhh
  
  
  
  It is only appropriate that End the Fed weekend be filled with talk of Audit the Fed, I'm glad to see everyone keeping up with this one. Why? Because I want to bitch about it, probably, but we' [...]
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  Posted: November 21, 2009, 7:43pm EST
  by Jr Deputy Accountant

• Ken Lewis Willing to Stay on at Bank of America... You Know... As a Favor

  Number of comments: 4
  
  
  
  You're telling me with 10% unemployment we can't find a sucker to take over for Ken Lewis? No one? What is it, those Bank of America cooties? The pay czar? Fears over getting punked by those hard-assed Richmond Fed bank supervisors?
  
  [...]
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  Posted: November 21, 2009, 11:00am EST
  by Jr Deputy Accountant

• UC Students Take to the Streets to Protest Fee Hikes

  Number of comments: 6
  
  
  
  While Jr Deputy Accountant is sort of taking the day off (at least from all of this crap) to get ready for End the Fed on Sunday, there are riots in California right now. It's not angry Los Angeles this time, it's UC [...]
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  Posted: November 20, 2009, 7:12pm EST
  by Jr Deputy Accountant

• Creative Use of "Attack" FTW

  Number of comments: 0
  
  I love this story, it reads like a novela.
  
  House Attacks Fed, Treasury (WSJ):
  
  Political frustration over the rescue of Wall Street and high unemployment erupted in the House Thursday, with one committee threatening to impose tighter scrutiny on the Federal Reserve [...]
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  Posted: November 20, 2009, 9:00am EST
  by Jr Deputy Accountant

• A JDA PSA for the Fed: Because I Care

  Number of comments: 0
  
  
  
  I've seen the Fed lose quite a few battles recently and I really don't want this to be a handicapped fight so I'm going to give them a bit of tactical advice and hope they listen. It's no fun if they're shooting themselves [...]
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  Posted: November 19, 2009, 10:31pm EST
  by Jr Deputy Accountant

• Tim Geithner is Having a Crappy Day and No One Likes Him (Maybe Because He Robbed Us?)

  Number of comments: 3
  
  
  
  Timmy boy is known for having a potty mouth (a potty mouth? Timmy? Give me a motherfucking break, the guy can't even sit at his desk without a booster seat or so I hear from reliable sources) and a temper problem, as well' [...]
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  Posted: November 19, 2009, 7:19pm EST
  by Jr Deputy Accountant

• Geithner on Financial Reform (Snore)

  Number of comments: 2
  
  
  
  NYT:
  
  Treasury Secretary Timothy F. Geithner is pushing Congress to move quickly in overhauling the nation’s badly flawed financial rules, which he says is essential for the health of the economy.
  
  Both the House and Senate are making progress toward [...]
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  Posted: November 19, 2009, 1:52pm EST
  by Jr Deputy Accountant

• Congress is Going After the Fed and It's Kind of Funny but Sad

  Number of comments: 0
  
  where's the campaign to stop the bad financial Photoshop?
  
  
  
  Congress wants to take back the Fed, apparently.
  
  This might get entertaining.
  
  Bloomberg:
  
  Federal Reserve regional bank presidents and U.S. lawmakers intensified a clash over giving Congress a greater [...]
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  Posted: November 19, 2009, 11:00am EST
  by Jr Deputy Accountant

• Barney Frank and Fed Audits Don't Sound Right

  Number of comments: 0
  
  
  
  Fuck you, I won't take both of those in one initiative. Get that fucker's name out of it and maybe I might take it seriously but keep Barney Frank in it and I won't buy it.
  
  I'm no dumb girl. You can't [...]
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  Posted: November 19, 2009, 10:00am EST
  by Jr Deputy Accountant

• St Louis Fed Gets the "Imploded the Dollar" Award

  Number of comments: 0
  
  
  
  Dude, really. You blew up the dollar. There were like 35 cents there - give or take - when we actually had a chance and we almost made it but I guess St Louis Fedhead Bullard opened his mouth and said the Mayans [...]
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  Posted: November 19, 2009, 12:26am EST
  by Jr Deputy Accountant

• Obama Warns on Double Dip Recession if We Don't Get Our Spending Under Control (WHAT?!)

  Number of comments: 1
  
  
  Who the fuck is he warning?! Get the man a mirror.
  
  Reuters:
  
  President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits, saying on Wednesday that if government debt were to pile up too much, [...]
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  Posted: November 18, 2009, 5:43pm EST
  by Jr Deputy Accountant

• Ben Bernanke Under Attack?

  Number of comments: 0
  
  
  I recommend Edmund Andrews' Under Attack, Fed Chief Studies Politics in its entirety just in case you missed it but let's get to the useful bits first, shall we?
  
  NYT:
  
  No fight illustrates Mr. Bernanke’s political challenge better than the' [...]
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  Posted: November 18, 2009, 5:04pm EST
  by Jr Deputy Accountant

• Wells Fargo to Repay $1.3 Billion to Auction Rate Securities Clients

  Number of comments: 0
  
  
  Hey! Someone send this over to LandAmerica's old lawyer at the Fed, she'd love to hear this news, it might keep her from getting her ass handed to her in court over this same crap.
  
  Consider yourselves forewarned, SunTrust and $C U' [...]
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  Posted: November 18, 2009, 2:02pm EST
  by Jr Deputy Accountant

• Want to Buy Some Crappy Properties? Hit Up the FDIC

  Number of comments: 1
  
  
  
  WSJ:
  
  For more than a year, the Federal Deposit Insurance Corp. has been seeking a buyer for 36 partially built condos it inherited from a high-flying, short-lived Atlanta bank. The agency has been fending off vandals, haggling with architects and uncovering [...]
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  Posted: November 18, 2009, 1:08pm EST
  by Jr Deputy Accountant

• St Louis Fedhead Bullard Will Be in the Bunker with the Mayans Before Interest Rates Go Up

  Number of comments: 0
  
  
  
  Those chickenshit bastards are going to wait until the end of the world at this rate - ironically, or perhaps not at all, St Louis Fed President James Bullard points out that 2012 may be the perfect time to jack up those interest [...]
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  Posted: November 18, 2009, 12:32pm EST
  by Jr Deputy Accountant

• Terrorists Might Target Fedwire? Suuuure

  Number of comments: 3
  
  
  
  "Terrorists"
  
  WSJ:
  
  Mr. Chertoff said he expects al Qaeda to develop more cyber-attack skills that would allow them to attack infrastructure that is less well protected, perhaps in the transportation and energy sectors. "It's only a matter of time," he [...]
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  Posted: November 18, 2009, 11:00am EST
  by Jr Deputy Accountant

• Obama to Create "Financial Crisis Task Force" in the "PCAOB" Fashion (LMFAO)

  Number of comments: 0
  
  
  
  LA Times:
  
  President Obama is taking a page out of his predecessor's playbook by creating a multi-agency task force to pursue criminals who bilked investors and consumers during the financial crisis.
  
  The task force of top federal officials will work [...]
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  Posted: November 18, 2009, 9:00am EST
  by Jr Deputy Accountant

• Tax Things (a Day Late)

  Number of comments: 0
  
  someone find me this on mp3 pls?
  
  
  
  Congratulate my boss and I for getting on Don't Mess With Taxes' "Tax Twitter Tuesday" - though he was talking about IRAs and I was talking about tax porn somewhere in Europe. Norway?
  
  [...]
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  Posted: November 18, 2009, 8:00am EST
  by Jr Deputy Accountant

• Jeffrey Lacker Makes Ben Bernanke Look Like a Frightened B*tch

  Number of comments: 4
  
  
  While Ben Bernanke is busy watching the dollar die, Richmond Fed President Jeffrey Lacker is in Virginia warning that the Fed is going to have to tighten policy before it feels comfortable to do so. Well it's good to know our favorite Fedhead [...]
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  Posted: November 17, 2009, 3:23pm EST
  by Jr Deputy Accountant

• What Tax Credit?

  Number of comments: 0
  
  Slow it down there, killer
  
  
  LA Times:
  
  More than 15.4 million Americans soon could learn that what the tax man giveth, the tax man can take away.
  
  Those people, surprisingly, could owe taxes for 2009 because of complications in the [...]
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  Posted: November 17, 2009, 12:00pm EST
  by Jr Deputy Accountant

• Paul Volcker on the FASB Override Button... And Who Needs a Button When You Have a Baseball Bat?

  Number of comments: 0
  
  pic credit: to dry for (um yeah)
  
  
  I guess Paul Volcker isn't that evil after all. Well sort of.
  
  NYT:
  
  A proposal to give banking regulators authority to block accounting standards is “a terrible idea,” Paul A. Volcker, a' [...]
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  Posted: November 17, 2009, 10:00am EST
  by Jr Deputy Accountant

• The Fed is Messing With Accounting Again: Going After Gift Cards

  Number of comments: 0
  
  That goes for the Fed and gift cards too
  tyvm
  
  
  
  Now the Fed is going after gift cards, which up until now have pretty much belonged to the accountants. What's up with that?!
  
  NYT:
  
  The Federal Reserve stepped up [...]
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  Posted: November 17, 2009, 8:00am EST
  by Jr Deputy Accountant

• Charity Cases: the Treasury?

  Number of comments: 0
  
  
  Oh those poor bastards in the UK. How long until Timmy figures out he can make up gift certificates of Treasury debt for "stocking stuffers"?
  
  Telegraph:
  
  The Charities Advisory Trust, which pioneered the idea of giving a goat for Christmas, has [...]
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  Posted: November 16, 2009, 10:32pm EST
  by Jr Deputy Accountant

• Ernst and Young Expresses a Going Concern Doubt... on the Post Office?

  Number of comments: 2
  
  Pic credit: toothpaste for dinner
  
  
  
  It's true. You can't make these things up, people.
  
  HuffPo:
  
  The Postal Service reported a loss of $3.8 billion last year, despite a reduction of 40,000 full-time positions and other cost-cutting measures.
  [...]
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  Posted: November 16, 2009, 6:49pm EST
  by Jr Deputy Accountant

• Stimulus Is So Amazing It Creates Jobs in Districts That Don't Even Exist!!

  Number of comments: 3
  
  
  Presented without comment. Because really, what more needs to be said?
  
  ABC:
  
  Here's a stimulus success story: In Arizona's 9th Congressional District, 30 jobs have been saved or created with just $761,420 in federal stimulus spending. At least that's what the [...]
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  Posted: November 16, 2009, 5:17pm EST
  by Jr Deputy Accountant

• Bernanke Reiterates ZIRP. Again.

  Number of comments: 2
  
  
  Poor poor Fed boys backed into that painful corner.
  
  Reuters:
  
  U.S. stocks rallied broadly to fresh 13-month highs on Monday after Federal Reserve Chairman Ben Bernanke reinforced expectations that interest rates would stay low to spur growth.
  
  In a speech [...]
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  Posted: November 16, 2009, 5:05pm EST
  by Jr Deputy Accountant

• Protesting: Ur Doin it Wrong

  Number of comments: 0
  
  
  
  Listen, I'm pissed off too. But no. No, no, no. This is how you disgrace the Wicked Witch of the Far Left, not this.
  
  Richmond Times-Dispatch:
  
  Members of the Danville TEA Party reportedly plan to burn Rep. Tom Perriello,' [...]
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  Posted: November 16, 2009, 12:00pm EST
  by Jr Deputy Accountant