The 700 Billion Bailout

For all the speak that I have done against this bailout, after reading and understanding credit default swaps, and the mess that the greedy bankers have created, I think this bill will be passed. The senators know this. They all have the insider information by now, which main street does not. Just Google for credit default swaps. 700 billion could be chump change. There were many whistle blowers on this since last year. If earlier you wanted to snatch the bankers bonuses, you would want to hang them now, if you knew what they knew. Warren Buffet is betting on it being passed. The senators are worried about what they will tell their constituents, and their tough questions are only a facade. Its Main Street versus Wall Street now. Main Street believes that Hank Paulson, Bernake and Bush all speak for their banking buddies. Wall Street had a big party, broke some furniture and are now calling on Main Street to pay for it. Those senators who speak in favor of it will have to kiss their political careers goodbye. The FBI investigations, the Presidents address is all towards that objective, for the senators to cover their a$$e$. And having resigned myself to the fact that this will indeed be passed, I now only hope in vain that the perpetrators of this crime are brought to task. Embrace the MiddleEast law for a few days and have these bankers whipped in Public.

And If this bailout still does not go through, stack on food, gold and ammo.

Read this dated April 2008. http://www.moneymorning.com/2008/04/02/credit-default-swaps-a-50-trillion-problem/

Then read this. Dated September 2008. "The Real Reason for the Global Financial Crisis…the Story No One’s Talking About ". http://www.marketoracle.co.uk/Article6335.html

Look in the rearview mirror

With high gas prices and conservation the name of the game, you have every website spitting out advices on top 10 ways to increase the mileage on the car. Always on the top of the list is to step on the gas ever so lightly, and to not go above the legal speed limit. So, now you have folks driving on the left lane on the NJTP at 60 miles an hour, and those who go from 0 to 30 mph from a traffic light in a full minute.

The one big thing that all these experts never mention is to do these tricks from the right lane. Else, jerks like me, who have ditched their crossover SUV's for a Honda Civic Coupe that gives them 35 miles to the gallon, are stuck behind these slow pokes. For all the gas that you 'penny wise pound foolish' guys in your trucks and SUV are conserving, I and many of my type, are spending twice tailgating you, and trying to push you inconsiderate jerks out of the left lane.

So, if you are reading this and you think I am talking about you, do leave me the choicest of abuses, but please stay out of the left lane.

My Jerry Seinfeld Moment

While I drive to work, I prefer to listen to 1130 AM (Bloomberg News), but got tuned in to another channel the other day, with the typical local news that I hate. (A Joe Maverick standing on a ledge somewhere threatening to jump is breaking news for these news channels compared to Russia entering Georgian territory).

A man who had robbed several mom and pop stores, was finally caught at his home. And the news media descended on the poor neighbour like hawks on a prey. You want to bet what he said? Which is when I started thinking, Have you ever heard a neigbour being interviewed, say "Oh, I always suspected him. I was telling my wife over dinner that he was perfectly capable of doing all those robberies. I think my other neighbour is the one that hit the bank the other day."