After getting screwed by TARP has the pressure forced the troubled Tax cheat Tim, to stop cheating Americans more?

This is two in a row!! Though I take the Government Sachs fair value with a grain of salt given those Wharton and Harvard slime balls are mocking us with their $780,000 payouts, now we have American Express who according to reports, paid 107% of the value of their warrants. What??? Also if you thought Government Sachs was such a wonderful firm, the taxpayer made MORE on a percentage basis on American Express. So eat it, Mr. almighty Goldman.

Oh and to think about how I was profiting off being short American Express all last fall. Mmmmm.... then of course I blew it all shorting CRM and AMZN but if this fake government rally can't be sustained, maybe I'll make some of these losses back as I still hold those positions (dumb of me I know, don't remind me), or I'll chicken out and eat it like I may soon have to. This issue isn't about me though, it's about you, the taxpayer and we're all pissed about the TARP bailout. But if this can continue at least going forward, though I still hated TARP and feel firms should fail so new guys can take over, at least the government can justify their corruption to an extent. There's so much more corruption that just TARP. But at least TARP right now is moving in a better direction after the initial mistake by the socialist retard that had to abandon free market principles to save the free market system. Yeah great language there Bush. I might be for business, and dislike wasteful government screwing me over left and right, but not these firms that received money. I'm with the taxpayer on this one!!

The key is what we don't know and that's the terms these guys have on the other bailouts they have with the FDIC. The article in this post does state that Government Sachs has borrowed over $20 billion fro mthe FDIC and AmEx over $5.6 billion. Why is this significant?? Well these two firms both applied to become bank holding companies to get TARP money. They were not part of this beforehand where they could get FDIC money. So essentially from my viewpoint, they might be gutting the FDIC to payback TARP and pay out shitloads of money. It looks nice on the surface and it's beign structured ina way that TARP will look like a good move going forward to save Hanky Panky's ass. But why not tell us more about how they're raping the FDIC and Goldman Sachs especially with their massive payouts as they rob from the investor everyday in the markets thru FLASH trading.

The problem is, when something looks good on the surface like TARP, with our government you need to look further cuz there seems to be a catch to anything that's looks good. Unfortunately we're lead to believe what's going on is good and don't get me wrong, it is good for the TARP program and I'm glad to see they're not skimping there, but what's going on with the other stuff? Especially when it's business as usual at Goldman Sachs and they get to manipulate their VaR.

And why is it that they're endorsing Gary Gensler (former Goldman guy and head of the CFTC) over limitiation to speculation but then say they need to be one of the restricted firms to the rule cuz they provide liquidity? Common grow up!! We all know you don't provide the right liquidity and that you rob other investors thru your algorithms to cheat and steal from us little guys! There should never be an exception to the rule because then the rule is a bogus rule! Plain and simple! If Goldman can do it, everyone should be allowed to. But considering we don't hace access to what Goldman has access too, it should go on to prevent the little guys from being screwed. What happens when everyone realizes the game is rigged against them. We might know it now and still choose to be involved in hopes we're wrong but when the people give up and we all walk away. Talk about massive economic depression?? 1932 will seem like nothing if the government continues to screw the people

Why I love Ron Paul

One of those days I was late out of my day job and I missed this. Listen at 1:45. Right on Ron Paul!! Gotta love the one man in Congress that doesn't play party politics, even though he's registered as a Republican. We need more of them!

Delphi creditors to win the battle over Platinum Equity

Despite the deal being somewhat similar, Judge Robert Drain allowed the DIP financier's to bid over the leftover Delphi assets so they could emerge from bankruptcy.

In essence JP Morgan was bidding with itself so they didn't have to write down the assets as much and could realize any upside potential but I want to focus on the fact that the Marxist Obama who runs Government Motors, was unable to force Judge Robert Drain to give it to Platinum Equity and have the taxpayer essentially bailout a billionaire hedge fund.

Why am I mentioning this as I said I feel the need to blog less. Well it was part of my tea party speech so I MUST give it the update it deserves. I figured no matter what this was going to be rigged that Platinum Equity gets the deal but thankfully Judge Robert Drain did the right thing and said, lets give everyone the right to bid on this.

In the original deal, the DIP financiers were told they had to take 20 cents on the dollar or $900 million for their $4.5 billion in DIP financing and get nothing else. Well now they get the equity stake and are forgiving $3.45 billion in debt (as opposed to giving up $3.6 billion) so in essence this judge gave a more righteous deal to the DIP financier's. Details still loom but the fact is that this is a better deal according to Delphi and the Obama Administration didn't waltz thru and say this is how it's gonna be. Obama is losing his powers fast to destroy America. Cap & Trade is very quiet in the Senate. The Blue Dog RATS along with the CANNOTS are holding back Cuban/Soviet style health care to some extent, we hope. There are some slight signs America already had enough of socialist/Marxist crap after we saw with TARP and the auto companies. We're tired of it damn it!!

The attack Goldman Sachs news of the day

It appears that all the talk about Goldman Sachs will not end, now a few members of government are trying to pretend to be angry about this now that the people are catching onto the fact that the government works for Goldman Sachs!! First we have the puppet, Charles Schumer who loves illegal aliens and says they can break our laws and that's it is unfair if Americans don't pay for their health care and schooling that has dumbed down the educational system here in America. Now all the sudden Schumer is like Hey everyone deserves a fair take when it comes to trading, so he sends this letter to Mary Schapiro (like she gives a crap, she couldn't find Madoff's fraud brokerage unit that made zero stock trades, she's going to look into Government Sachs??)

You can read the Bloomberg story or read the actual letter posted below:

Schumer Letter

Notice how little this weasel Senator from New York pays attention to details. He can't even spell her name right, liek the fucking idiot that he is!!



Then we have to wonder, why does the Federal Reserve give Government Sachs an exception to VaR (Value Added Risk.) This is something Zero Hedge (or as CNBC calls them, Zero Intelligence) reported on the 15th of July and it seems funny that Congress must be reading this blog and say oh wow, lets act like we're working for the people now. So Alan Grayson whose one of the main people behind the Ron Paul bill to Audit the Fed, had something to say to Bernanke and his wasteless breath for say it makes him angry to be the bailout fund for Wall Street. Sure!!! If it makes you so angry, let them fail.

7 27 Goldman Sachs Letter to Bernanke

Please note this letter shows you how in fact Goldman is having it's cake and eating it too. Heads they win, tails you lose!! It's garbage like this going on, that makes 90% of fund managers underperform the market. Oh wait, that's where your pension, 401(k) and IRA is. No wonder it's so hard to keep up when Goldman is rigging the game to benefit themselves while they smear their feces all over our faces and up our nose.

Given that

Since this gets no reader attention though it states how feel about things. I've been debating this weekend why I do it when nobody reads it. It's a waste of my time seriously since many people choose to be ignorant and I can spend my time learning more about the corruption in government and using it for my own purpose. As seen I get no comment and nobody cares what I have to say and hence I don't feel I should be focusing on this blog too much going forward. That isn't to say I;'ll never post in here again. I might. But it just won't be that often. After two months of doing it and no audience, there's no sense in continuing to waste my time telling you folks to truth when you'd rather get butt raped by the Obama Administration and say oh it felt good to have a sore ass!

I have so many thing to focus on and this is going to become one of the lessor ones. If you miss it that much, you know how to reach me, my e-mail is there and we can talk about whatever issue you want to talk about. I'll still be informed, maybe more informed than I have been. I won't give that up at all with this corrupt government and society I live in. I need to know so I can try and hopefully prepare myself for the day this gov't seizes what I own and says it's our now but we'll take care of you. Yeah, ok!!

Is anyone shocked by corruption of politicians in NJ

This is what NJ is full of sad to say!!

I must say this even though I am sick of both parties and I hope if Dick Cheney committed crimes, he will sit in a jail cell as well. It's just funny how the liberal media is. they are quick to mention that Dennis Van Pelt is a Republican out of Ocean County. I took the site I took because it never used party affiliations but you will find that everyone in NJ will say Dennis Van Pelt is a Republican. nobody will say what party the other folks are from.

This leads me to ask you. Why is the media biased against Republicans? I mean seriously, I know they're all corrupt in some way. some of them are unethical but not illegal (like Chris Christie) and others are illegal as we're seeing. The FBI has a high rate of success when they arrest someone, I think it's 95% or greater so I take it most of these guys or all of them are guilty.

Why does the media not mention when someone is a Democrat (RAT)?? I don't get it. Corruption is corruption and whether it is a CANNOT or a RAT, they're hurting the taxpayer and destroying what is the State of New Jersey. It is so bad in this state and it needs to stop. I hope the FBI movement today will make other corrupt lowlife politicians realize they're next. Maybe they can get buttfucked in a prison cell so the future guys know. I'd much rather live my life with honesty than corruption. The key to cleaning up government and business is to let firms be profitable rather than run by corruption. Medicare is full of corruption but credit cards don't have that much corruption. I wonder why?? Imagine Obama run health care?? Yeah 1,018 pages is a lot to go through. I dunno how much of it I'll get thru for a scrutiny. I could care less what others in the media say. I want to see it for myself. I'm sure it's ugly but I still wish I had the time to read it myself. Why do these assholes make their bills so long? It makes me feel they have something to hide!

It is just sick to me that these people and rabbi's etc. would do what they have done. I am not shocked by this as I know the Catholic Church is corrupt as well. I Was raised Catholic and I know there's a guy in a church in Denville (last I know he's there) names Father Martin and he's one corrupt lowlife piece of garbage. It's people like that dirtbag that ruin what religion is all about. He's the reason I became a non-religious person. He showed me the fraud of the Catholic community. So though I believe in a higher power, I not don't believe that higher power gives a damn whether one is nice or not.

I do believe though if I don't treat someone else well, I don't deserve to be treated well back. So my motto is to treat everyone with the best respect I possibly can and if I don't get that same respect back, well I know where I stand then!

CIT did get private financing to avoid bankruptcy but questions loom

Over the weekend CIT negotiated a deal to secure a $3 billion financing arrangement to stave off bankruptcy for now. But that is only the tip of the iceberg. Lots of questions remain.

When I first saw this I thought it was a really positive sign that the credit markets were beginning to flow again and that the government wasn't needed to bail out everyone. Well more and more information has come out including this Bloomberg article:

So basically this allows someone else to get paid back that's due very soon! That firm is pretty damn happy about this. But here's the issue. not only is CIT paying 25 times the LIBOR rate, but PIMCO and Centerbridge basically crowded out all the unsecured creditors since $10 billion of assets are secured to Centerbridge and PIMCO. What does that mean. If in bankruptcy court those assets only go for 20 cents on the dollar, these two big shots lose NOTHING. Pretty sweet deal and if those assets go for more than 20 cents on the dollar, that make out like bandits.

Hence we are far from being out of the woods on small business financing and what a CIt bankruptcy might mean to small business. The process has just been delayed and the market is buying it. Wait till it hits small business (which isn't stocks listed on the exchanges) and then consumer spending gets hit some more. What will that do to the new Obama recovery. Are we gonna blame that on the socialist Bush as well? I anticipate it's onyl a matter of time before CIT goes bankrupt. I just hope they don't all of the sudden become too big to fail and the taxpayer gets screwed like usual!