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.
