Update: CBO scores Blue Dog Medicare cap – bill STILL ADDS BILLIONS TO DEFICIT..Floor vote next week -Blue Dogs rolled over already?..Health Care NOT waiting for August recess….

Well alrighty then! The sneaky attempts to give TOTUS (and his panel) control over Medicare spending (taking it away from Congress and thus from people who can be swayed by the public) and GUT benefits to Seniors STILL will not stop this bill from adding BILLIONS to the deficit according to CBO (the head of which was apparently NOT rolled by TOTUS’ oneness last week). Give that man a medal!

So they wanna Throw (Grand)Momma from the Train and it STILL will not avoid adding BILLIONS to the deficit, (that deficit, and the reality of the public’s reaction to it, of which the WH is rightfully fearful, is, in the projections they are holding back, likely MUCH MUCH higher than what they told us pre-spendulus)..KILL THIS BILL….


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July 24, 2009. Tags: , , , , , . Economy, Entertainment, Obama Administration, Politics, Popular Culture. 8 comments.

Update: Paulson to Lewis on BofA Merrill Merger, An Offer He Couldn’t Refuse?

Update: In Depth View via Bloomberg:

Vodpod videos no longer available.

Our previous posts on the Clash of these Bank, Trading and Finance Titans here

Disclaimer: MiM are Merrill/BofA shareholders, our view is pretty damn biased as a result..

Was Timmeh in the room and in the loop? He was head of NY Fed then, betcha he was in the loop…..

Andrew Cuomo has his teeth in and he has that bulldog lockjaw thing happenin’ as he gets ready to run in 2010, Cuomo v Giuliani would be sweet!

Ken Lewis is SOL, shareholders are rightfully pixxed as all get out if he let Hank bully him into waiving withdrawing form the merger under MAC provisions. Material Adverse Change, which is what the MER losses  were at that point according to Lewis’ testimony to Cuomo

…BUT even if he stood up to Hank and pushed ahead and went to court in DE, Hank is right in what he told Lewis anyway, DE is a tough fight on MAC, and it would have likely turned out BofA could NOT withdraw under MAC as with proper DUE DILIGENCE they should have KNOWN these losses were coming…either way Lewis is Fired CEO Walking…

more about “Paulson to Lewis on BofA Merrill Merg…“, posted with vodpod

April 23, 2009. Tags: , , , , , , , , . Economy, Film, Finance, Politics, Popular Culture, TARP, Uncategorized, Wall St. 1 comment.

Godfather II: Blagojevich as Fredo..

Godfather II (1974):

Fredo/Blago: I didn’t know it was going to be a wiretap, Barack. I swear to God I didn’t know it was going to be a wiretap. Adviser 1 bumped into me in Downers Grove and he said that he wanted to talk. He said that you and Candidate 5 were in on a big deal together and that there was something in it for me if I could help him out. He said that you were being tough on the negotiations but if they could get a little help they’d close the deal fast. It’d be good for the Combine…He said there was something in it for me on my own!

Michael/PEBO: I’ve always taken care of you, Blago.

Fredo/BLAGO : Taken care of me! You’re like my kid brother, you take care of me? Did ya ever think about that, huh? Did ya even once think about that? Send Blago off to do this! Send Blago off to do that! Let Blago take care of some Mickey Mouse highway bill somewhere! Send Blago to pick somebody up at the airport! I’m your senior in the Combine, Barack; and I was stepped over.

Mike/PEBO: It was the way the machine wanted it.

Fredo/Blago: It ain’t the way I wanted it! I can handle things; I’m smart. Not like everybody says like dumb; I’m smart, and I want respect!

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December 10, 2008. Tags: , , , , , , . Entertainment, Film, Obama Administration, Politics, Popular Culture. Comments off.

Godfather Revisited: Tim Geithner as Michael Corleone, Vikram Pandit as Moe Green

Godfather Revisited:In the City

the-godfather-fstarring

Tim Geithner as Michael Corleone

Vikram Pandit as Moe Green

Win Bischoff as Fredo.

Co-Starring Hank Paulson as Tom Hagen.

Michael/Tim: My credit good enough to buy you out?
Moe Greene/Vikram Pandit: Buy me out?
[Fredo/Win Bischoff laughs nervously]
Michael/Tim: The bank, the brokerage. The Administration and the Fed want to buy you out.
Moe Greene/Pandit: The Fed wants to buy me out? No, I need funds I come to the window, you don’t buy me out.
Michael/Tim: Your operation loses money, maybe we can do better.

geithner-corleoneMoe Greene/Pandit: You think I’m skimmin off the top, Tim?
Michael/Tim: [Michael shakes his head] You’re unlucky.
Moe Greene/Pandit: You goddamn public servants you really make me laugh. I do you a favor and take Freddie Mac and Fannie Mae when you’re having a bad time, and now you’re gonna try and push me out!
Michael/Tim: You took Freddie Mac and Frannie Mae in because the Treasury bankrolled your bank/casino, and the Federal Reserve guaranteed your paper. Now we’re talking business, let’s talk business.

Moe Greene/Pandit: Yeah, let’s talk business, Tim. First of all, you’re all done. The FED’s policy options don’t even have that kind of muscle anymore. The FED’s balance sheet is sick, right? You’re getting chased out of the currency markets by China and borrowing from the Saudis. What do you think is going on here? You think you can come to my bank and take over? I talked to the Saudis- I can make a deal with them, and still keep my bank!
Michael/Tim: Is that why you failed to integrate Smith Barney into the operation?

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November 21, 2008. Tags: , , , , , , , , , . citigroup, Economy, Finance, Politics, Wall St. 3 comments.

Geithner: Hot Child and the CITI…

Will he or won’t he?

Tim Geithner, the future Treasury Secretary, is currently the head regulator of CITI, and he is likely to have a substantial role this weekend in helping to formulate the future of that company.

CITI’s Board met today in an attempt to come to a solution for the markets rough and tumble treatment of its stock. Best quote of the day, Jeff Macke on Fast Money compares Vikram Pandit, CITI CEO, comments today promising no pieces of the company would be sold, to Moe Green telling the Corleones there is no room for them in Vegas. It has about as much effect.

From the Guardian: …

But market-watchers will hone in on Citigroup over the weekend for any developments as to the future of the bank, the second-largest in the United States by assets.

Citigroup’s board is meeting Friday to discuss the bank’s options, according to a person familiar with the matter. The bank could sell parts of the company, or merge with another institution….
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November 21, 2008. Tags: , , , , , , , , . Cabinet, Economy, Finance, Obama Administration, Politics, Wall St. 5 comments.

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