Jr Deputy Accountant

• The FDIC Puts the Smack Down on Firstrust and JDA Asks Where's Trusty?

  Number of comments: 0
  
  
  
  Oooooh, I bet they are really shaking in their boots. $10,000 is a whole shit ton of money.
  
  Philadelphia Business Journal:
  
  Firstrust Bank was fined $10,000 by the Federal Deposit Insurance Corp. for regulatory violations, according to information released by [...]
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  Posted: November 30, 2009, 10:40pm EST
  by Jr Deputy Accountant

• Tim Geithner Killed Treasurys!!!

  Number of comments: 1
  
  Pic credit: Salon.com
  
  
  
  Uh, that's how Bloomberg made it sound. I could be blowing it out of proportion but come on now, this is me we're talking about here.
  
  In-Geithner-We-Trust Bond Market Gets Lowest Yield (way to report with fucking [...]
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  Posted: November 30, 2009, 1:00pm EST
  by Jr Deputy Accountant

• What the Fed Can Learn from the Bank of Japan (Hint: It's Not "How to Have Large Cojones")

  Number of comments: 0
  
  These numbers are too hard
  let's do 0, it's way easier...
  
  
  Pay attention, America, this is what happens when you have an impotent central bank who refuses to raise rates and pull in the reigns on sloppy, half-assed economic "recovery". This is exactly [...]
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  Posted: November 30, 2009, 12:00pm EST
  by Jr Deputy Accountant

• Removing the Stigma from Food Stamps (But Keeping the Same Scandalous Bloodsucking Bankers)

  Number of comments: 0
  
  
  
  NYT has an interesting article on removing the stigma from the safety net of "food stamps" now that a pretty signifcant number of Americans rely on them to eat. The article doesn't get into specifics and much like unemployment numbers, I imagine "1'" [...]
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  Posted: November 30, 2009, 11:00am EST
  by Jr Deputy Accountant

• Still Buying Nothing?

  Number of comments: 0
  
  
  
  First of all, Cyber Monday is a perfect example of why this country is as fucked up as it is. An entire day spent on the boss's dime surfing Online sales, as if standing in line at Wal-mart at 3 in the morning' [...]
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  Posted: November 30, 2009, 10:00am EST
  by Jr Deputy Accountant

• China Would Be Funnier to Watch if I Weren't in the US

  Number of comments: 0
  
  Is this offensive?
  
  I sure hope it is. Happy motherfucking Monday, kids! Keep the finger off of the "buy now" button if you can, ok? It's just 8 hours, you'll live.
  
  Bloomberg:
  
  Chinese Premier Wen Jiabao rejected “unfair” calls for' [...]
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  Posted: November 30, 2009, 9:00am EST
  by Jr Deputy Accountant

• An Apology to the People of Zimbabwe

  Number of comments: 3
  
  
  It dawned on me today that it isn't fair to called that helicopter-cash-dropping hack Ben Bernanke "Zimbabwe Ben" as it could be considered offensive to an entire country. This is what did it:
  
  
  
  You know, Zimbabwe.[...]
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  Posted: November 30, 2009, 8:00am EST
  by Jr Deputy Accountant

• It's a Miracle! The Bailout Will Save Us All!

  Number of comments: 0
  
  Whew! Crisis averted!
  Wait a second...
  
  
  That must be an awesome central banker power. Just mention a bailout and suddenly everything is under control. Fuck! I want that power.
  
  But I know my first thought after wielding it just once would [...]
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  Posted: November 30, 2009, 7:00am EST
  by Jr Deputy Accountant

• I'll Give You $1 for That Failed Bank

  Number of comments: 0
  
  
  
  WSJ:
  
  People's United Financial Inc. wanted to buy failed banks on the cheap. Instead, it struck a deal to buy a healthy equipment-leasing company.
  
  Last Monday's change of plans by the Bridgeport, Conn., bank-holding company underscores a problem with the [...]
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  Posted: November 30, 2009, 6:00am EST
  by Jr Deputy Accountant

• The Fed is Not Your Punching Bag and It's Not Bernanke's Fault (No Really)

  Number of comments: 1
  
  
  
  Don't end the sinister Fed! It's a Pandora's box of unawesomeness, or so says Robert J. Samuelson in the Washington Post:
  
  Ever since its creation in 1913, the Federal Reserve has grappled with a daunting political contradiction. The Fed is charged' [...]
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  Posted: November 29, 2009, 11:53pm EST
  by Jr Deputy Accountant

• Not to Wildly Speculate But the Fed *Does* Have a Homicidal History

  Number of comments: 0
  
  
  
  The Greenspan Body Count, the census worker found dead with "FED" scrawled on his chest, that whole JFK conspiracy... the Fed appears to have the homicidal track record to back up my wild speculation so maybe I am not that far [...]
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  Posted: November 29, 2009, 11:28pm EST
  by Jr Deputy Accountant

• HAMP: The Illusion of Loan Modifications Does Not Loan Modifications Make

  Number of comments: 3
  
  
  
  Yesterday I did the farce of loan mods and coincidentally asked for some actual numbers. Well Market Ticker has kindly provided them and they are - as suspected - low. As in zero. It doesn't take a mathlete to figure out that' [...]
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  Posted: November 29, 2009, 6:15pm EST
  by Jr Deputy Accountant

• UAE Central Bank Pulls a Federal Reserve: It's Bailout, Dubai Edition!

  Number of comments: 0
  
  
  
  
  Quick, better grease up Dubai with some cheap easy money before it seizes up like a 14 year old Islamic bride on her wedding night.
  
  WSJ:
  
  The United Arab Emirates' Central Bank has moved to calm fears of a' [...]
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  Posted: November 29, 2009, 5:34pm EST
  by Jr Deputy Accountant

• United Commercial Bank of San Francisco: the Crime Scene

  Number of comments: 2
  
  
  
  SF Gate did the autopsy of San Francisco's United Commercial Bank - which I sort of took personally when it failed on November 6th - and this is so familiar that it's sad.
  
  SF Gate:
  
  United Commercial Bank of [...]
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  Posted: November 29, 2009, 9:00am EST
  by Jr Deputy Accountant

• The Treasury Plans to "Encourage" More Help for Homeowners

  Number of comments: 0
  
  
  Now perhaps I'm being a bit of a skeptic but based upon past performance, I have to admit that I'm not holding out for this latest scheme to amount to anything useful. But maybe that's just me.
  
  NYT:
  
  The Obama administration [...]
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  Posted: November 28, 2009, 11:47pm EST
  by Jr Deputy Accountant

• Zimbabwe Ben Defending the Fed

  Number of comments: 2
  
  
  Hey Zimbabwe Ben, starting to feel a tad uncomfortable? I've been watching you squirm for months now, motherfucker, and you're still in the frying pan.
  
  Bloomberg:
  
  Federal Reserve Chairman Ben S. Bernanke said a “strong case” can be made for [...]
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  Posted: November 28, 2009, 12:17pm EST
  by Jr Deputy Accountant

• Jr Deputy Accountant Interviewed by Liberty Pulse's The Pulse

  Number of comments: 0
  
  Don't forget the Fed comics
  
  
  
  I had the pleasure of spending my Friday evening with The Pulse talking about the Fed, tungsten gold, Black Friday, Dubai, and of course Beavis and Butthead (our friends Geithner and Bernanke).
  
  You can' [...]
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  Posted: November 28, 2009, 11:30am EST
  by Jr Deputy Accountant

• The Comparison is Undeniable

  Number of comments: 3
  
  
  
  h/t Liberty Pulse (did I see this somewhere else?)
  
  Some things need not be explained:
  
  
  Beavis & Butt-Head - Green Thumbs @ Yahoo! Video [...]
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  Posted: November 27, 2009, 11:06pm EST
  by Jr Deputy Accountant

• Duh, Dubai!

  Number of comments: 2
  
  
  
  First of all, before I even go anywhere with this, who didn't see this coming from a million miles away? Obviously not the geniuses who gave them $80 billion in capital to play with.
  
  Secondly, I sincerely hope my friend @harperpm' [...]
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  Posted: November 27, 2009, 1:05pm EST
  by Jr Deputy Accountant

• I'm Not Working Today But the Fed Has Some Post-Thanksgiving Headaches to Handle

  Number of comments: 0
  
  
  
  While I get Friday off, I hear certain people may be working tomorrow. I guess that means I've got to entertain you, so let's see what we have for recent Fed failures, shall we? If there's something more entertaining, do let me know.[...]
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  Posted: November 27, 2009, 11:00am EST
  by Jr Deputy Accountant

• Credit Card Hangover?

  Number of comments: 0
  
  
  
  So how did Black Friday go for all of you?
  
  Buy Nothing Day blew up the news today and that's reassuring. Some of us made money today instead of spending it, hope you were one of them. [...]
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  Posted: November 27, 2009, 11:00am EST
  by Jr Deputy Accountant

• Sorry, Arianna, but AIG Already Has Dibs on "Obama's Katrina"

  Number of comments: 2
  
  
  
  Um, unemployment?
  
  I speculated in March that AIG would be Obama's Katrina. Hell, pick one, it could be anything. Anyone want to vote for Tim Geithner? [...]
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  Posted: November 27, 2009, 9:00am EST
  by Jr Deputy Accountant

• Thanks

  Number of comments: 3
  
  
  
  In honor of a day that I guess is meant more for showing gratitude than stuffing your face and watching the Packers kick the Lions' ass (burn), there are a few things I am thankful for that I figured I'd share with you [...]
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  Posted: November 26, 2009, 9:14pm EST
  by Jr Deputy Accountant

• Seriously WTF is Going on with Gold... Part 3? Is Anyone Else Seeing This?

  Number of comments: 1
  
  
  
  It didn't come from me. Maybe it did. Whatever. We could all be wrong and this could all be wild gold bug speculation. Zimbabwe Ben and I will get one year older and the gold market will stay relatively stable come December. I'm [...]
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  Posted: November 25, 2009, 11:35pm EST
  by Jr Deputy Accountant

• Heaviest Element Yet Known to Science: (Gv)

  Number of comments: 1
  
  
  
  
  This came from a Washington Post article comment, if you know who it belongs to, let me know.
  
  Heaviest Element Yet Known to Science: (Gv)
  
  Lawrence Livermore Laboratories has discovered the heaviest element yet known to science.
  
  The [...]
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  Posted: November 25, 2009, 11:11pm EST
  by Jr Deputy Accountant

• Banks to the Fed: "Rewrite the Accounting and We'll Totally Help with Your Exit Plan"

  Number of comments: 0
  
  Pic credit: David Dees
  
  
  
  Now if this isn't the reacharound to beat all reacharounds, I'm not sure what is. The Fed doesn't have the authority to do this and if they do, I think the bloodless coup can finally be considered' [...]
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  Posted: November 25, 2009, 8:38pm EST
  by Jr Deputy Accountant

• Al Gore's Carbon Scam Revisted (With Special Guest Star Goldman Sachs!)

  Number of comments: 0
  
  
  On May 1st, I did Al Gore and the green scam, specifically our buddy Al's connection to Goldman Sachs. The story has been getting quite a bit of play these days with the revelation that global warming may be a scientific work [...]
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  Posted: November 25, 2009, 7:10pm EST
  by Jr Deputy Accountant

• The Fed Cracks Down on Conflicts of Interest? Sure, I Buy That

  Number of comments: 0
  
  Deviant behavior will not be tolerated
  
  
  Stephen Friedman's only crime was getting the NY Fed caught for this.
  
  WSJ:
  
  The Federal Reserve unveiled new restrictions on directors of its regional banks Wednesday, responding to a controversy that spurred the resignation [...]
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  Posted: November 25, 2009, 5:35pm EST
  by Jr Deputy Accountant

• Is the Golden Gate Bridge Going Up for Sale?

  Number of comments: 0
  
  
  
  If you believe in economic recovery, I also have a bridge to sell you.
  
  San Jose Mercury News:
  
  Visitors to San Francisco's Golden Gate Bridge could one day take an elevator to the top of its towers, climb on its [...]
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  Posted: November 25, 2009, 5:21pm EST
  by Jr Deputy Accountant

• Sri Lanka Likes Gold Too

  Number of comments: 4
  
  
  WSJ:
  
  The International Monetary Fund said Wednesday that it has sold 10 metric tons of gold to Sri Lanka, the third customer to acquire a portion of its gold holdings.
  
  Sri Lanka's central bank purchased the gold Monday, paying the equivalent [...]
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  Posted: November 25, 2009, 5:02pm EST
  by Jr Deputy Accountant

• Fort Knox: The Real Knock-Off Capital of the World? Or, Alternatively, SERIOUSLY WTF Gold OMG!!!!!

  Number of comments: 0
  
  
  If you want an interesting story, look no further than gold. It's like the stuff of Indiana Jones movies (if I watched them, I might know if that's a decent comparison or not) and it's about to get really fun.
  
  The Evil Twins [...]
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  Posted: November 25, 2009, 3:11pm EST
  by Jr Deputy Accountant

• Ben Bernanke Cleared of Hanging Death, Where's Greenspan's Indictment?

  Number of comments: 0
  
  
  
  So far, we've only got one homicidal Fed Chairman. Too bad.
  
  Catch up on the census worker who was found hanging from a tree with "Fed" scrawled across his chest:
  
  Ben Bernanke, Cold Blooded Killer?
  
  Listen, we know certain' [...]
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  Posted: November 25, 2009, 1:37pm EST
  by Jr Deputy Accountant

• World Bank Totally Encourages B*tch Ass Fed Behavior

  Number of comments: 0
  
  
  
  Raise your hand if you give a flying rat's ass what the World Bank has to say. FAIL, that's like hiring Al-Qaeda architects to rebuild the World Trade Center.
  
  Reuters:
  
  Swift interest rate hikes aimed at containing inflation in product [...]
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  Posted: November 25, 2009, 11:00am EST
  by Jr Deputy Accountant

• Buy Nothing or Get Terrorized By Store Security

  Number of comments: 2
  
  
  Nothing says "we want your money" like lots of store security. I guess it's wonderful that people are working but what about this says comfy and cozy?
  
  I'll be hiding out on Friday if anyone is looking for me and most certainly won't [...]
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  Posted: November 25, 2009, 9:00am EST
  by Jr Deputy Accountant

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

  Number of comments: 0
  
  
  
  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

  Number of comments: 2
  
  
  
  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