Friday, September 25, 2009

G20 TAKES FIRM ACTION

I will attempt to translate the headlines from the G20 meeting on Banking first this excerpt...

Public Anger
Leaders are trying to appease public anger after governments bailed out banks across the world and then watched as they quickly returned to profit and resumed setting aside billions for bonuses. The draft communiqué says leaders will tell banks to avoid “multi-year guaranteed bonuses” and allow awards to be deferred or clawed back, according to an official.

Translation.......da masses R gettin pissed lets make this look good....you can rip us off with unnecessary risk taking and we will bail you out......but Puleeeeeeeeeeeeze make the payoff less conspicuous.

After banks wrote down or lost $1.6 trillion, they will also have to increase the quality and quantity of capital they hold as a buffer against future losses, guidelines which must be implemented by the end of 2012, another official from a G-20 nation said. A leverage ratio for banks, which would manage holdings relative to total assets, will be added to the existing Basel II capital rules, which all members will adopt by 2011.

Translation.......if we can run this out a little longer and dump the remainer of our toxic waste on the taxpayers through our carefully designed "relief plans" then we can reduce our leverage to only 30 to 1....

The governments also agreed to establish a “framework for strong sustainable and balanced growth” and sought the help of the International Monetary Fund as they start to regular assess each other’s attempts to meet that objective. The initiative could see China boosting domestic demand, the U.S. saving more and Europe increasing investment in a bid to even out the lopsided flows of trade and investment that contributed to the credit boom and subsequent bust.

Translation....hahahahahahahha....cough choke.....ok....I will try.... here goes.The U.S. saving more.....What are they saving......the greenback.......hahahaa.....ok forget that ....China ..they are boosting domestic demand by giving say 8 credit cards per citizen like us....hmmmmm...last time I checked they were encouraging the citizenry to buy gold........OMG too funny...Europe ......forget it......have a good weekend gang......and gl......

http://www.bloomberg.com/apps/news?pid=20601087&sid=ayYYqcxxtLzA

Now this is a blockbuster of a video and you owe it to yourself to watch this......Alan Grayson is one Tough Cookie......grew up in NY.....he is one tenacious congressman fighting for us.
http://www.youtube.com/watch?v=mXmNpdYpfnk&feature=player_embedded

8 comments:

  1. http://www.youtube.com/watch?v=mXmNpdYpfnk&feature=player_embedded

    Alan Grayson is a scary man lol. Takes everything they've got to try and avoid saying something foolish under this questioning. If Ron Paul would agree to take sidekick status to Grayson I think we'd be onto something viable.

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  2. Er, sorry for reposting the link, brainfart.

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  3. morla....Grayson is aware of the answer before the question.......he was barely able to keep from laughing....check his bio .....one sharp guy

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  4. I noticed in your earlier bio for this site you had some education in KS, are you still based out of Kansas? I worked out of Overland Park for 3 years 1997-2000, always liked the midwest. Herford House, best steaks around. - Analyze

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  5. Nope.....worke in KC trauma center until 91 now at Lake of the Ozarks.....and still wrkin...in fact at wurk now......back to the blood.n guts bye

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  6. Cough!

    Hey Doc, can I stop coughing now, ya squeezing a little tight down there!

    Cough!

    Notice the Iran Boogeyman being played just on cue as the bonuses go offshore.

    http://online.wsj.com/article/SB10001424052970204518504574418813806271306.html?mod=WSJ_hps_MIDDLESecondNews

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  7. Red you are sucha cynic........this is why i was very nervous holding DTO going into this time period...it makes me suspicious that oil was driven down for a lower base ...which REALLY makes me nervous....our mutual friend says NO WAY they hit Iran...wish I were as sure...but WTF do I know

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  8. I guess my point is made on steaks with Herford House - unless someone has the top for it. Mortons out of both Indy and Toronto (Canada) excluded from the competition. KC has the best barbecued ribs on earth, there is no competition anyone can offer against Arthur Bryant's. - Analyze.

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