Jamie’s Cryin’: Dimon says he’s tired of complaints about banker pay and bonuses

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Another day, another classic VH tune fits the lede, Jamie Dimon is pushing back against the ‘rising populist tide’ in re banker bonuses and pay. If you have been here before, you know we are big fans of Jamie and wanted him for Treasury Secretary. We like that he is a fighter.

But we also know the banking industry and Wall St selected obama as their candidate for a reason, and since it is Obama ginning up the faux populism and then slamming we Tea Party Patriots for being concerned about Government spending, well, Jamie needs to talk to the WH, not the people, WE are not the problem…..

Jamie Dimon defended the bank’s pay policies on Monday and said he was “tired” of his employees being vilified over bonuses.

Rising bonuses have drawn criticism from politicians and others, who complain Wall Street’s losses seem to be socialized while its profits are privatized.

Dimon, along with the chief executives of Goldman Sachs Group Inc (GS.N), Morgan Stanley (MS.N) and other big banks, will be appearing this week before a commission created by Congress to look into causes of the financial meltdown.

JP Morgan pays its employees for sustained performance over multiple years, Dimon said on Monday.

“We do not have change-of-control agreements, special executive retirement plans, golden parachutes, special severance packages or merger bonuses,” he told a JP Morgan healthcare conference, adding that many of company’s employees are in client-facing jobs and work hard with small and mid-size businesses.

“I am a little tired of the constant vilification of these people,” he said….

PS Jamie says Commercial R.E. is a ‘train wreck’ but we knew that was coming…..

more about “Jamie’s Cryin’: Dimon says he’s tired…“, posted with vodpod

January 12, 2010. Tags: , , , , , . Economy, Finance, Politics, Popular Culture, Unemployment Statistics, Wall St. Comments off.

Ain’t Talkin’ ’bout Love: moderate Dems should support Scott Brown (MASS) and Sue Lowden (NV)

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I know this is sacrilege for a lot of Dems, but at this point I am supporting Scott Brown and Sue Lowden. Ask yourself something Democrats, who the hell are we supporting and why?! These Democratic Senators killed prescription drug reimportation, they are gutting Medicare, they are rolling over on the main issues that the party platform espouses in re women and progressive taxation.

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January 10, 2010. Tags: , , , , , , , , , , , , , , , , , , , . Politics, Popular Culture. 2 comments.

Report: Bin Laden was within grasp, Rumsfeld and military under GWB let him get away…

How about we end the Big Dawg/GWB let OBL get away BS blamefest and focus on now? Can we do that? Can we get a Reaganesque coalition together and take the House in 10 and the WH in 12?

Cuz if everyone keeps blasting Big Dawg for an attack on the Cole that happened as he was ending his POTUS-ship,( in the Chris Wallace interview he is as clear as can be he wanted OBL hit, but the CIA, headed by someone BTW who WJC  kept on who was appointed by GHWB, would NOT sign off), if we keep this merry go round blamefest going we are not going to move forward together. Did WJC make mistakes?? Hell yeah, we didnt understand we were at war. Did GWB make mistakes? Hell yeah, he should have gone after OBL FIRST before turning to Iraq. But we are here NOW.

As far as this report in the WSJ today, it appears that yes OBL was pinned down and Rumsfeld and GWB made the decision NOT to go in there after him.

Now we can keep bashing the Clintons (looking at the present occupants of the WH should inform your opinions of the Clintons, who did NOT challenge the Consitution, or free market capitalism, he ENDED Big Govt during his terms!!!) or GW (after all if WJC was responsible for the recession that GWB felt (it was the FED!!) then you must say GWB is responsible for THIS recession? same thing on attacks same thing on OBL, be consistent!)or we can focus on NOW.

I choose NOW. Right NOW we have troops in harms way, right NOW our economy is in a ditch, right NOW the loony left is driving us off a cliff and the radical right is about to go AWOL on us with Lou Dobbs or Glenn Beck, splitting the coalition vote….let’s be in the NOW and work together to get MODERATION back in D.C.!

WSJ:

Osama bin Laden was unquestionably within reach of U.S. troops in the mountains of Tora Bora when American military leaders made the crucial and costly decision not to pursue the terrorist leader with massive force, a Senate report says.The report asserts that the failure to kill or capture Mr. bin Laden at his most vulnerable in December 2001 has had lasting consequences beyond the fate of one man. Mr. bin Laden’s escape laid the foundation for today’s reinvigorated Afghan insurgency and inflamed the internal strife now endangering Pakistan, it says.

…”Removing the al-Qaida leader from the battlefield eight years ago would not have eliminated the worldwide extremist threat,” the report says. “But the decisions that opened the door for his escape to Pakistan allowed bin Laden to emerge as a potent symbolic figure who continues to attract a steady flow of money and inspire fanatics worldwide. The failure to finish the job represents a lost opportunity that forever altered the course of the conflict in Afghanistan and the future of international terrorism.”

The report states categorically that Mr. bin Laden was hiding in Tora Bora when the U.S. had the means to mount a rapid assault with several thousand troops at least. It says that a review of existing literature, unclassified government records and interviews with central participants “removes any lingering doubts and makes it clear that Osama bin Laden was within our grasp at Tora Bora.”

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November 29, 2009. Tags: , , , , , , , , , , , . Armed Forces, Economy, Obama Administration, Politics, Taxes, Terrorism, Unemployment Statistics, Wall St. Comments off.

Sarah on running (and rock!)….

sarahpalin_200908_477x600_7

Too good not to steal, over at Ace HQ, an article on Sarah from Runners’ World

Do you listen to music during your runs?
I go through cycles there, too. Right now I’m not listening to anything but probably in a month or two I’ll start craving music. That’s the way it’s been for the 35 years. Parts of the year I want to listen to something, parts of the year I don’t. When I do listen, I crank up old Van Halen, old AC/DC

Song change!! Ricky on the Ace thread points out the perfect song for this post:

*Song courtesy of redbirdfan126:

From the 1984 album. I’d like to take the time to say Fuck You, WMG. That is all.

Oh yeah baby, I knew this woman was fabulous, there she goes confirming it again, listens to classic hard rock and quotes Plato, runs miles and miles, I think she’s awesome… :0) h/t pajamamomma for the quote

…But the most precious experience I’ve had running was a few summers ago when I was training for a marathon and my son Track—and I named him Track for running—would drive out in front of me and plant water bottles along the route. I felt so spoiled, like the queen of the running world to have a kid who was all cool with his pickup truck, dropping off water for me on my long runs. And he’d put a note on the bottles, saying, “Love you, mom” and “Run hard, mom.” It was just the most precious summer of my life to have that and then to cap it off with an all-time marathon best [3:59:36]. I wouldn’t trade it for anything in the whole world….

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June 30, 2009. Tags: , , . Heavy Metal, Music, Politics. Comments off.

Circa 2003 Tanker Contract War Back On: Boeing, Northrup Grumman and EADS

Video courtesy of MobilityAirman

Politico:

The third time is the charm, the saying goes, and the Pentagon is desperate for it to be so. This summer, the Defense Department will make its third attempt to award a $35 billion contract to buy aerial refueling tankers. Air Force leaders promise the process will be “fair and open.”

If it is, that will be a first.The aerial tanker bid has been bedeviled by investigations, protests and charges of bias and rule-breaking…

Everybody wants some…..*

…”No matter which way we go, it’s the No. 1 acquisition priority in the department,” said Paul Meyer, who manages Northrop Grumman’s tanker program. He added that the contest will be even more politicized than in the past. “It’s one of the last big ones coming, and it has an international component.”

Jobs, jobs, jobs, American jobs? Protectionism? Trade Wars? All part of the package as this tanker contract is open for bidding for the Third Time….

…With the economy still staggering, Boeing is emphasizing the potential job creation of the bid, particularly in states such as Kansas and Washington, where the firm has a major presence. In the last round of the tanker competition, Boeing hammered the Northrop and EADS plane for being French and not American. The recent spike in protectionism prompted by the economic meltdown is now being stoked to drum up even more opposition to Northrop-EADS partnership.Rep. Todd Tiahrt (R-Kan.), a defense appropriator who’s aiming for a Senate seat, is convinced that EADS gains an unfair advantage in the U.S. marketplace because it receives subsidies through socialized medical care available in Europe and was launched with government subsidies….

VH video footage courtesy of 5150EVH5150

June 8, 2009. Tags: , , , , , , , , , , , . Economy, Entertainment, Hair Bands, Heavy Metal, Music, Obama Administration, Politics, Popular Culture, Uncategorized. 1 comment.

Market Mover Tuesday: Case-Shiller Housing Index…

Just released Case-Shiller Housing Index:

10 of 29 Metro Areas show record rates of annual decline

15 metro areas showed price declines of over 10% vs Feb of 08

10 city composite posts annual decline of 18.8% in February

20 city composite down 18.6%

here is how CNBC morning crew is spinning this to be a good number:

Annual home price decline did not set a new record for the first time in 16 months

well alrighty then, let me pop my Korbel cork right now, LOL…..

So the Delta is slowing, that would be IMO the foreclosure sales, however we still have a RECORD inventory out there and with the foreclosure moratoriums ending I suspect prices will fall farther as those ‘shadow inventory’ short sales hit the market…but by all means it is good if the rate of decline would frakkin slow or better stop…or you know actually show an increase in value, HA!

Dow futures are sharply lower after the Dow ended yesterday down 50+, futures down -103 before the open…

*VH House of Pain courtesy of 5150EVH5150

*Straight off of the Gene Simmons Demos, the House Of Pain! Its basically just the basic riff from the 1984 HOP, with different choruses, different verses, and a different solo. The Intro and outro to the solo are also in the 198 HOP, although in different places here. Enjoy!

April 28, 2009. Tags: , , , , , , , , , , , , , . Economy, Entertainment, Foreclosures, Housing, Music, Uncategorized, Wall St. 1 comment.

MiM Nominee for new Treasury Secretary…

Tim Geithner is about to speak to Congress about the Obama Budget plan..market flat right now post Bernanke….

In expectation of Timmeh falling flat, I nominate a salesman and showman for the spot going forward….

Who can inspire confidence? Who has the energy? Who who who?

You haven’t seen a real showman until you see DLR come flying in over your head on a surfboard singing California Girls…..

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March 3, 2009. Tags: , , , , , , , , , , , , , , . Cabinet, CITI, Economy, Entertainment, Finance, Hair Bands, Music, Obama Administration, Politics, Popular Culture, TARP, Uncategorized, Wall St. 1 comment.

Turbo Tax Tim takes Goldman Sachs lobbyist for Chief of Staff…

can’t you feel the change?!?!?

uhm…NOT!

so much for ETHICS ROOLZ….

Of all the firms who helped get us into this hole, Goldman Sachs IMO has the most to answer for and has not paid a price for their shenanigans.

Know why? Cause they run the finance arm of our government at this point and they lobby, lobby, lobby.

Think perhaps this genius hired as Chief of Staff to our new tax evading Treasury Secretary helped GS avoid any downside as the counterparty to AIG CDS by lobbying Turbo Tax Tim to put BILLIONS into AIG?

Yeah we do too.

Unfrakin real. A new era without lobbying

I call bullshit.

Bullshit.

Like I always say, GS is Golden and they made money betting against their clients and they made money tanking our financial system after Paulson himself lobbied Congress to raise leverage limits…and they are making money on the TARP and the bailouts handling the asset purchases for the frakin FED Reserve too….

ANOTHER FINE MESS YOU’VE GOTTEN US INTO GOLDMAN SACHS!

And now Turbo Tax Tim has the AUDACITY to hire a GS LOBBYIST as his Chief of Staff?!?!

Gee wonder whose interests this guy will be looking out for. Think he has any GS stock? yeah.

From NBCBayArea:

Newly installed Treasury Secretary Timothy Geithner issued new rules Tuesday restricting contacts with lobbyists – and then hired one to be his top aide.

Mark Patterson, a former advocate for Goldman Sachs, will serve as chief of staff to Geithner as the Treasury Department revamps the Wall Street bailout program that sent an infusion of cash to his former employer.

-snip-

According to that pledge, Patterson will be prohibited for the next two years from participating in Treasury decisions related to Goldman Sachs and the specific issues on which he lobbied.

Still, Sloan and financial service lobbyists question how Treasury will make those determinations. “Goldman so permeates the markets, how can you separate them out?” Sloan asked.

Patterson was a registered lobbyist for Goldman Sachs from 2005 until April of 2008. Lobbying disclosure forms suggest he represented the financial giant on a wide array of issues, including visas, tax credits for cellulosic ethanol and an Indian gaming facility in New York state.

His reports also list a July 2007 meeting at Treasury, but sources familiar with the meeting say it was an informational session about Goldman’s business practices organized at the department’s request.

The Treasury lobbying rules issued by Geithner Tuesday would restrict department lobbyist contacts connected to applications for funding from the Troubled Asset Relief Program and those associated with banks receiving government assistance…

(PS Guess who is new head of NY Fed to replace Tim? YES! Former Golden Slacks Economist, BWAAAHAA!)

MiM Market Update: Futures up sharply on news of Bad Bank…(covered by MiM yesterday) but ‘Dr Doom’ Rabini of NYU Stern School of Business told CNBC’s Becky Quick this morning at the Economic Forum in Davos, that we will see things decline even farther by the end of 09 as Auto, Student and Credit Card loans default….(gold baby, MiM says we need cash, short term Treasuries and gold)

At MiM we heard the news and this nursery rhyme popped into our head, LOL:

And the Treasury Secretary takes a Chief of Staff

the Tres Secv takes a chief of staff

hi ho the derrio the tres secty takes a chief of staff!

We think GS should be the cheese

and the cheese stands alone

the cheese stands alone…

January 28, 2009. Tags: , , , , , , , , , , , , , , , , , , , . Cabinet, CITI, citigroup, Economy, Entertainment, FDIC, Finance, Music, Obama Administration, Politics, Popular Culture, TARP, Unemployment Statistics, Wall St. 2 comments.

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