The Banks are Crooks
Just a short blurb this evening before the big show, I still have to rig my gear for the trip tomorrow and I am on weekend mindset already.
As the title says, the banks are crooks. Of course we all know this but today was especially grievous I think.
Many have been confused that the big 6 banks are sitting on loads of cash instead of doing something with it. "Banks need to make loans" is the call from all around. Now certainly the banks have been happy to sit on cash because they can borrow from the FED at 0% and then buy US debt to pocket the spread. Nice game of hide the salami. Perhaps there is another reason for the cash stash?
This just came across in the evening:
AIG Set To Pay $725 Million To The State Of Ohio
Now that is not monster dollars, but it is just one settlement.
Add this to the Goldman Sachs payout for fraud and things are getting interesting. Maybe the banks are well aware that broke states are coming after them, and with every decision or settlement that goes against the banks, they have to pay up. Perfect time to lower loss reserves, which all the banks did to meet earnings this quarter. BAC and C could not quite get it done even using those tricks.
Now one would think free money from the FED, accounting tricks made legal, and a steep yield curve would give the banks all the edge they need to make profits hand over fist. Record earnings and record bonus pools speak to this. What happens if they have to pay out a few small settlements? You guessed it! They want EVEN MORE:
Banks eye higher fees to boost declining revenue
The article has some crap about lost revenue from the new FinReg bill but this is just outrageous. I give up, there is no stopping these criminals.
Friday Night Entertainment
Who would not need a break after this week?
Funny Pictures
You know these rock!
A summer in college I got a job correcting grade school science tests essay questions and let me tell you things like this were the norm, not unique:
Nice Try!
From the cool site "Friends of Irony" comes this great way to save money in deflationary times:
Price Check!
Stuff Maybe You Did or Did Not Know
-Today July 16th is the 65th anniversary of the "Trinity" nuclear device test, the first atomic "gadget" ever attempted.
-If all official records say something is impossible then it must be so. Never mind German submarine U-869, sunk off the coast of Gibraltar, was later found off the coast of New Jersey. Governments never lie or cut corners with facts.
-Fresh pineapple will keep jello from forming a solid.
-There is a Supermassive Black hole at the center of the Milky Way Galaxy, that is our galaxy.
-At work I often use enzymes from Mung Beans and bacteria that love to live at about 212 degrees.
-Some things are not the same no matter what.
-I built 3 of these babies in college and they are my favorite engine. Well, how could you know that?
-If you try to grow trees inside with no wind they will collapse due to having not laid down "reaction wood". Ha ha, get your minds out of the gutter!
Film Clips
A few rentals you may want to procure.
Here is the Trinity test in the film "Fat Man and Little Boy":
That actor looks just like Oppenheimer!
In my mind, the greatest Western ever made was Clint Eastwood's "Unforgiven". The final scene is the best, but perhaps the most insightful and moving scene is right before that. Take a look:
Always hits me very hard. Here is the smash up end.
Rock Blogging
If I only had a dollar, for every song I've linked, every time I've had to post while people sat there otherwise occupied.
Leading off the show is the birthday girl Soleil. My good friend is now 26 and tougher than anyone I know anywhere! My present for her is Dido and "Closer":
A moving tune and very good. Great pick! My favorite Dido (yes I do have a favorite!) is "White Flag". Happy Birthday "River Crosser"!
Loyal reader Lurker would like "Only Time Will Tell" by Asia and I have not heard this one in some time:
I can dig it.
Ultra loyal reader Watchtower would like to send "Natural High" by the band Bloodstone out to his wife. She must be one special lady!:
Good luck tonight Mrs. Watchtower! HA!
Ready to dance? Cus if they don't dance, well, there no friends of mine:
Men Without Hats and "Safety Dance"! Complete with synth base line.
Sorry for the replay, but I needed L.A. Guns and "Over the Edge":
Wowza!
Two tunes left, can you hold out?
How about a little Ben E. King and "Stand By Me"?:
So Saweeet!
Last call! Get set, get ready and get going on "Jump Around" by House of Pain:
You know you are ready to roll now!!!
Added:
BONUS
Have a good night.
My bank owns everything I have..
ReplyDeleteWith that said, without them I would have nothing...
My house, my boat, my truck, my vette, harley, are subject to the
mercy of my banker... What they don't own is me... If I was to loose it all, and go into survival mode... They would surely never own my purple hulls or peppers..
My seed bank is extensive and the ranch is paid for. Its loaded with wild plums, apricots, grapes, deer , hogs, and numerous other edible varmits..
1 Road in, and 1 road out,surrounded by a creek on 3 sides, that is where I would set up the video monitering for intruders.. With the extensive stash of high calibre weapons in my arsenal,and many family members, the security would be just fine...
The windmill gives us the water, the stock pond gives us the catfish, the wind turbin gives us the electricity..
The guy in charge of the country gives us the grief......
Thanks for the vid GYSC!
ReplyDeleteWatch, no prob!
ReplyDeleteRandall,
key to life is don't owe anyone anything!
My dad always said:
If you dont owe money no one can control you!
Thanks for the special birthday tune! Glad you liked it! I also love White Flag - she has so many good tunes it's hard to pick a favorite.
ReplyDeleteHere's to crossing many, many more rivers!
Well, I grew up on the spaghetti westerns--A Fist Full of Dollars, For a Few Dollars More, The Good, The Bad, and The Ugly. Those were some great movies.
ReplyDeleteBut to my mind the greatest western Eastwood ever made was The Outlaw Josey Whales. Pale Rider was a close second. But Two Mules for Sister Sarah shouldn't be left out of any discussion.
Best steak I ever ate was at Clint Eastwood's restaurant in Carmel, CA. Yep, he ran a restaurant. Tried to start it up, the city council denied his request, so he ran for mayor, won, and overturned the city council, then built it. The Hog's Breath's Inn, it was called.
You don't tug on Superman's cape
You don't spit in the wind
You don't pull the mask off the ol' Lone Ranger
And you don't mess around with . . . Clint
Gawains,
ReplyDeleteJosey Wales and Unforgiven....I could not pick they both are the best in my mind.
Soleil,
Glad you stopped in! Happy Birthday again!
Watchtower,
tell me the music worked some magic for ya!
Higher fees?
ReplyDeleteAnyone clueless enough to have their money with one of the big six banks deserves to get fleeced.
Of course I'm referencing an awful lot of people.
Sedintary,
ReplyDeleteyou are indeed correct! I still have my account at BAC. Keep trying to get around to transfer my stuff to this local bank that my wife and her mom have used forever; small,private, well run by a family type bank. I just keep dragging my feet because I do all my brokerage stuff via the BAC stock program. I guess I could do ETrade or somthing. And yes, this does make me clueless, I agree!
"Watchtower,
ReplyDeletetell me the music worked some magic for ya!"
Well it was either the music or the promise to go furniture shopping today : )
Did you catch any Carp this morning?
They are considered a trash fish around here, but in my experience they are one smart fish, or else I'm just one dumb fisherman.
I have never eaten one but I hear they are delicious.
Gawain
ReplyDeleteDo you remember a western called 'Once Upon a Time in the West'?
I always thought that was pretty good too.
Come to think of it I've always loved the soundtracks to those movies also.
Watchtower,
ReplyDeletewell, I would go furniture shopping for a little attention! I would even see Eclipse again for crying out loud, lol!
I scored some good small mouths today but those carp are smart! I had about 5 good runs but they all dropped the bait before hookset. I forgot how tricky these fish are! I am already planning my revenge.
Kill Bill soundtracks are neat throw backs to all kinds of genres.
ReplyDeleteI cleared out of Chase a couple years ago mainly because the fees were huge. But also just on principle. I didn't want to sponsor criminal activity unless I was getting some of the booty :)
ReplyDelete