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PI: 08 Eliott Spitzer swallows ET's bone home. But not without a letter of disclosure from both the distributor and the insurance company- why not, then signed off on by the CEO of the insurance and distributor's company. Spitzer: It's not a name, it's an attitude. Spitzer: He puts the "in" in "Insurance". Spitzer: Insurance: Incorrigible Sorry, but due to my profession I'm turning this wasteland of a website into something meaningful.... Bear Stearns (NYSE: BSC): Nobody's commented on this but it is the ALPHA and OMEGA of the subprime slime. Last july they had the "Alpha" Fund I believe, totally collapse due to the margin calls on their subprime securities. This was the genesis of all of the write downs. History books will point to it some day, mayhap, as the origin of all horrible sins of 2007, 2008 and beyond as they were forced into a liquidation in which nobody wanted to hold the paper no matter what the rating. This even spurred write downs across portfolios as AAA debt got marked at ungodly discounts- in some cases as low as 6 cents on the dollar yielding as much as 40 percent- still- nobody wanted it. The wave continued unabaited around the globe, somehow the simplicity was unseen by financial media as it was purposefully not talked about. 8 Months later the wave lapped itself and came home to Phil Collins and it's genesis, at the biggest originator of mortgage tranche BS: Bear Stearns who could not any longer make up a number appropriate to calculate for their misappropriations and looked to Jamie Diamond at JP Morgan Chase to bail them out with a quick LOC. The quick and dirty on the paper is that it is producing income but the mere notion of it on the balance sheet propels a bank to record a loss somehow commensurate with some arbitrary value assigned by the latest purchaser of utterly, distressed and pissed on paper (that could and will most likely be redeemed at par- someday). Accounting rules have it all wrong as usual but accountants have never really been particularly good at calculus, only stats, puzzles and simple physics (F=Ma). My commentary is not entirely forgiving of the banks or the financial engineers (erstwhile known as scumbags (unjustly!) on wall street) or scapegoats. I would like to place the blame on those with the money who just decided they no longer wanted to consume the paper because they finally opened up their eyes to the rampant speculation on Main Street. HGTV still features a tv show called "Flip this House" and until this program ends we will continue to be in a recession. Dirty old bastards with their fingers ont he cash have decided to become dumb and act as if they have no interest in risk. They're right in doing so. Worldwide interest rates have become forcibly low across all asset types due to truly low inflation thanks to advanced trading declarations. This won't stop but who's to blame the money grubbers for demanding at least a 500bp spread on zero risk to topline risk. Spreads have become exacerbated on american companies in recent times (see NCC, F, CFC, Alltell, Harrah's, Clear Channel) but this will change- as it seems like an eternity currently but is completely unfounded. The biggest crackup in the utterly dysfunctional credit market of late is the 1000 percent return on assets that indicate Treasury default. What? If I have it my way I will break up the debt market into a million, trillion bits and pieces and make it available in currency to trade. It would no doubt stabilize the markets and give true idiots pricing power over the nimrods currently in charge. Neglecting Usual...01/25/2008:Don't you love her madly... Don't you love her way... Don't you love her face...All your love is gone. So sing a lonely song. Don't you love her as she's walking out the door... All your love................. All Your LOVE...... ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ That's just it isn't it? You don't care until it's time to care. It's surreal till then. The person is dying, dying, dying, dying, dying, dying.... not real... not real... not real... oh... shit... my father is dead... I will learn to miss him. I am missing him already. I am aged. I am still the child who drinks wine and throws the bottle lazily into the river, in my mind, into the Olentangy, it sinks like a turtle on his way to the sea, my bottle of old cheap glub, glub, red circa 1995, me, alone in the dark leaveless wood........ surrounded by the moonlight and tiny brush of forest between me, 315, and the river. Leaves trampled under foot and moonlight washing everything bright as spotlight. Brisk. Wind. Cars not caring that I exist or that my car is on the shoulder. I never even knew him. I am a child. I am a man. (man... such a small word...) (child... such a complicated word...) Take me. Spanish Caravan. Yes, I know you can. There were indians scattered... all over the highway, bleeding..... Running around freaking out... and just leaped into my soul. And are still there. Lotsa trouble Lotsa Blues Whole lotta nothing and Nothin to lose alright... what was that? Though it's not. Heart of the things that I never know. I need your love. I need you. Yeah I need you now. Yeah, I need you. .............. Gotto escape to Ibiza........ ...... Take my boat it sails in the morning... dawn to dusk and on into the eveining. Blue Island... And God Spoke Through Me:11/30/2007: As I lays there, pleading with my 3 week old daughter (if I say she was just born, that's just me being repetitive but I want to say and sound all poetic; right?) who was just borne, I says to her... "Awww, come on babe, I'm not inflicting pain, I'm just inflicting a little unhappiness" as I change her diaper and try stinking that blasted binky back in her mouth. She rages a scream at me, as if I had some NERVE! In that moment of phrasing of such distinct words it comes to me that God might even be saying the same such things to us as we live and die and perhaps live and die again as I presume if there ever is/was an afterlife and we grow capable of all things we would grow bored of that white-gowned existence in some garden party throughout eternity wallowing in two suns bathing naked and beautiful and full of smart things to know from having lived and died; cried, bled and lied; tried and harangued; been faulted and manipulated that perhaps just perhaps or in the mortal braying words of Ginsberg "mayhap" we just decide on our own to take another ride for the joy, lust happiness and love of knowledge. (I imagine often in parentheses that in order to pass through the eye of a needle into heaven that I too must endure getting nails pounded through my feet, legs, and hands and whipped into atrociousness.) She and I are both going through the pains of ruing our existence. Tomorrow's my 6 year anniversary and as I say to my bride that only 44 more years to go until our 50th I realize that I'll be lucky to live another 44 years. I start thinking that I should work on retiring in another 4 so I can at least have 40 more years to travel the world but perhaps that's a little bit unrealistic since I can't ever imagine myself not working and I imagine myself doing a lot of stuff. Visualisation is the key technique in life. If you sit long enough and meditate long enough on your dreams you will see yourself marching across campus due to graduate; picture yourself closing that business deal for that new 20 million dollar account and picture yourself rumbling up the long drive of your estate in the British countryside. But even at my lavish, stoney estate with family trotting about on horseback chasing fox I imagine myself stowed away in that woody library, fire a'cracklin and I and my computer watching the luminescence percolate wealth as is my real life job and knack and franchise within a franchise. Ahh, but the scotch will sip nicely that day. A Zillion Scattered Thoughts Later:11/05/2007: Desmond says to Molly "Girl I like Your Face... O bla dee, o bla daa... Life Goes On." With a couple of Kids Running in the Yard... “If there were no God, it would have been necessary to invent him.” Voltaire “The road to excess leads to the palace of wisdom...for we never know what is enough until we know what is more than enough.” Blake “To see a world in a grain of sand Hold infinity in the palms of your hand “I disapprove of what you say, but I will defend to the death your right to say it” Voltaire "This above all; to thine own self be true." Shakespeare "Rich gifts wax poor when givers prove unkind." Shakespeare “No snowflake in an avalanche ever feels responsible.” Voltaire “If the doors of perception were cleansed, everything would appear as it is - infinite” Blake “I have no fear that the result of our experiment will be that men may be trusted to govern themselves without a master.” Jefferson “I feel sorry for people who don't drink. When they wake up in the morning, that's as good as they're going to feel all day.” Sinatra “We never live; we are always in the expectation of living.” Voltaire “I would like to be remembered as a man who had a wonderful time living life, a man who had good friends, fine family - and I don't think I could ask for anything more than that, actually.” Sinatra “The best government is a benevolent tyranny tempered by an occasional assassination.” Voltaire “Seek on earth what you have found in heaven.” George William Russell “As long as people believe in absurdities they will continue to commit atrocities” Voltaire “To enjoy life, we must touch much of it lightly” Voltaire “The trouble is that everyone talks about reforming others and no one thinks about reforming himself.” St. Peter of Alcantara “Those who restrain their desires, do so because theirs is weak enough to be restrained.” Blake “The more I read, the more I meditate; and the more I acquire, the more I am enabled to affirm that I know nothing” Voltaire “The man who never in his mind and thoughts travel'd to heaven is no artist.” Blake “It is hard to free fools from the chains they revere.” Voltaire “I am very fond of truth, but not at all of martyrdom.” Voltaire “Self-love is the instrument of our preservation.” Voltaire Still Horny After all these Years 09/25/2007.............. I just had this notion... to put out an APB to women all over who are looking for famous men who might still be horney even though they're on social security and most likely doing renditions of Viva Viagra.... This guy just popped to mind after thinking about him and listening to some of his songs.... It is a funny notion that he just recently married another supermodel-type. Especially, when you consider women in their 30s have about the same hormone level for sex as boys in their 18-22ish region it makes you wonder just what the heck guys like these are thinking when they saddle up that bucking princess 1/3rd their age. Maybe they just want to go out that very best way: With a Woody and a face lit up like a jack-o-lantern. As long as she's got the platinum card, what does she care? Seems like a win win.... But I just wanted to write... Still Horney After all These Years.... I'm sure we could throw up quite a few more pictures... Donald Trump and his young wife spring to mind. There's no way he's handling that... McCartney and his Ex? Nope. Not a chance. He's as old as her grandpa. Hugh Heffner and those bimbos? Still HornY? Yes... but the flesh could not perform even if it wasn't being controlled by MicroSoft. Greensperm and his babe? I think not. |