Thank you Phil Gramm.

• A person with knowledge of the discussions said Thursday the new aid package (for BAC) could be modeled along the lines of the financial lifeline that was thrown to Citigroup Inc. in November. (well that worked out well for Citigroup, so why not?)

If JPMorgan is attacked later in 2009 it truly will be end of days. Again - why we are doing this charade going is beyond me - this is nationalization. Take them over - kill equity and bondholders and let's get it over with.

I ask you dear shareholder of Fannie, Freddie, Federal Reserve balance sheet - can you imagine what is going on in those dark crevices where your eyes are not allowed to see? What is happening to that Countrywide Financial (which accounted for >20% of all US mortgages at one point) on Bank of America's balance sheet?

The good news is in the future you won't see the losses these financials are
taking each and every day which are now so public in BAC and C. They will
quietly suffered - just imagine the carnage going on at Fannie and Freddie.

Lenovo (Chinese computer firm) took first loss in 3 years - CEO resigns. In America the CEO would ask for retention bonus to stay on and "guide the company through this troubling time". Because only a select few are so talented .... It is amazing to see the cultural differences and complete lack of shame. Not one legislative action towards clawbacks in 1.5 years of capital destruction to the buddies who brought down the entire US financial system. In fact I read our friend who once headed Merrill Lynch, Stanley O'Neil (and got $160M as golden parachute to "leave") (You're Fired! Now Here is $160M to Help Ease the Pain) has now found new employment. As thousands upon thousands of his former employees lose their jobs. Lovely. He must have some level of acumen beyond imagination to already be back to another multi million position.

If anyone saw highlights of the Harry Markopolos hearing yesterday laying out the case he PRESENTED (as a gift) to the SEC in the Madoff case, and the abject lack of oversight in the system - you'd simply be disgusted. I need to find a nice summary of the topic to post here in the future - if they were so negigent on something so huge I can only imagine all the medium sized malfeasance they are missing. As always there is not only 1 cockroach - this is just an obvious one.

What a system. If only the American sheeple paid attention - they'd be enraged.

No position