Re: [Vo]:[VO] : Old Energy New Money
I can accept that the business of government is business. What we saw in the Fed this week was betrayal, total, absolute, betrayal of the American people.. up to this point we watched corruption in high places.. but this was total betrayal by leadership in the trust we placed in government. Ben Franklin tried to warn us. What to we say to our faithful employees that depend on us ? We have met a payroll every 15 days for 45 years. They trusted us. Their pensions were to be held in sacred trust. Try explaining this to their wives. All this has come upon us by a corruption of leadership of government. This situation will produce an anger that will result in difficult times beyond anything we have seen in our 80 years. Richard On 15/3/2008 10:37 PM, R C Macaulay wrote: Harvard and Wharton business school teach.. get positioned, grab and run. They are taught no one owns GM, whoever runs GM has a liscense to loot. Wall street people are now taught there are NO rules any longer. the only rule is... don't get caught. ;-) harry
Re: [Vo]:Re: Old Energy New Money
Jones Beene wrote: - Original Message From: R C Macaulay because it's too big to fail. Translation.. when there is $ 550 trillion dollars in funny money (derivitives) in play out there ... Isn't too big to fail just another mantra (a lie which to big to admit-to so we make it into dogma) ... Well, America is the only country we have, so it is too big to fail. If we can just postpone the collapse long enough, we will all be dead before it happens, eh? i.e a dogma of the modern religion which will become the NWO ?kinda like the other mantra: we're now a service economy and manufacturing jobs don't matter or international trade (sending our jobs to China) makes us all stronger. It looks to me as thought the economy is being destroyed from the inside, but what do I know? Part of that destruction is being accomplished through the educational system, see www.deliberatedumbingdown.com . Think about it ! What a sadly warped version of Fordism ! ... Was Huxley a whistle blower, or an insider? and we are being seduced-by these NWO controllers, almost without a whimper. By acting as if they are really only pushing traditional religion, they have instead been installing just the opposite. Well, paganism is a traditional religion. As far as without a whimper, people have been writing about this since Robinson published Proofs of a Conspiracy, 1789. The Conspirators have continued to succeed for various reasons. --- Get FREE High Speed Internet from USFamily.Net! -- http://www.usfamily.net/mkt-freepromo.html ---
RE: [Vo]:Re: Old Energy New Money
When the democrats take over this fall, they will surely set thing right. Jeff No virus found in this outgoing message. Checked by AVG. Version: 7.5.519 / Virus Database: 269.21.7/1330 - Release Date: 3/15/2008 2:36 PM
Re: [Vo]:Re: Old Energy New Money
When the democrats take over this fall, they will surely set thing right. Jeff Howdy Jeff, Thanks for your encouraging words. I couldn't seem to figure out why... the US has few actual home repo's on the books.. the actual losses to date are way under what is claimed to be the potential. The fed has already pumped in $ 150 bil to the banks. Sunday papers say the fed will pump another $ 300 bil directly into the large investment banks as done with Bear Stearns. This total of $ 450 bil is far in excess of what actual losse have occcured in the subprime mortage mess. So I got to thinking .. what am I missing ? Shazzam !.. a little bitty news item report on Carylse Capital Company in Zurich. Seems this tiny company, a subsidiary of the mighty Carlyse Group had to borrow 150 mil from their daddy to cover a margin call.. now they have been told to put up more cash to cover another call. WHY??? It seem they were buying sub-primes and then borrowing on the paper.. get this!!! they used the paper for collateral. They used the collateral to borrow 30 times the actual paper face value. These peckerwoods sold the paper THIRTY TIMES. Where did they learns these tricks.?? from the experts.. Now the fed says they needed to keep Bear Stearns from failing. Somebody's rockin' my dreamboat ! Oh ! did I seem to read that GHWB was in Carlyse along with all of Reagan's cronies like Carlucci. the ex defense sec. Jesse James would be embarrassed by the lack of style of these guys... after all.. the bad guy is supposed to use a pistola.. not a pen.. no guts. Richard
[VO]: Not Infallible
Hey Vorts, Just tell the bartender at the Dime Box saloon that we ain't got the money to pay the bar tab... cuz we ain't infallible! London. David Rubenstein, co-founder of the Carlyle Group, pledged Thursday to make amends to investors in a fund that is facing collapse and has ties to his firm. We're working to find ways to help people to deal with losses and maybe recover some capital, Rubenstein said in a telephone interview. The fund, Carlyle Capital, came to the brink of collapse on Thursday after discussions on refinancing failed, prompting a default on its debt. The fund's inability to strike a deal in talks with creditors late on Wednesday, despite help from Rubenstein and the Carlyle Group's strong ties to lenders, sent renewed shudders around global markets. Investors fear that more funds will run into trouble as clients seek withdrawals. I thought we'd work out a way to solve the problem but each of the banks were so worried about their own credit situation, Rubenstein said. The result is not a happy one. Over 20 years we had good investment judgment but we're not infallible. Rubenstein said that the banks recognized this was an unusual situation and he did not expect the fund's collapse to have any repercussion on the Carlyle Group's relationships with the lenders, which include most Wall Street banks. The Carlyle Group shares some investors with the fund, which is run by Carlyle Group executives who also own about 15 percent of the fund, but Carlyle Group does not own any of its assets. Carlyle Capital said Thursday that it expected lenders to take possession of its remaining assets, a portfolio of U.S. residential mortgage-backed securities rated triple-A. If banks are unwilling to lend, then this is the lifeblood of capitalism being restricted, said Justin Urquhart Stewart, co-founder of 7 Investment Management in London. Hedge funds and other weaker operations are being broken like people stepping on twigs. Carlyle Capital's problems also provide a glimpse into the challenges faced by the usually secretive hedge fund industry because it is one of the few that is publicly listed. The situation has also raised questions about the vulnerability of the privately held funds, which disclose little data. Carlyle Capital joins a number of funds that have run into trouble this year after banks hit by write-downs on assets backed by subprime mortgages started to call in loans or asked for better collateral. Among the funds that are struggling, Peloton Partners, a hedge fund in London run by former Goldman Sachs partners, was forced to liquidate its largest funds last month. Thornburg Mortgage, a major American lender, also ran into trouble after it failed to meet some margin calls, and Drake Management in New York said that it might shut its largest hedge fund. Some investors say they believe that attempts by central bankers to inject funds into the banking system may not be enough to revive markets. It's a confidence issue, said Irfan Younus, a banking analyst at NCB Stockbrokers. People are still nervous and banks are reluctant to lend more because they're in the process of deleveraging. Last month, Carlyle Capital was managing $21.7 billion in assets - mostly triple-A rated mortgage debt issued by Freddie Mac and Fannie Mae. Like many of its peers, it had leveraged itself aggressively, borrowing $31 for each dollar of equity, according to its annual report. Lenders include Deutsche Bank, Bear Stearns, Merrill Lynch and JPMorgan Chase. As those investments lost value and banks worried about their debt exposure, creditors demanded that Carlyle Capital put up more and more funds as collateral for the loans. A $150 million credit line from its parent, the Carlyle Group, was not enough to keep it out of trouble. By Wednesday, it had defaulted on about $16.6 billion of debt and some lenders started to liquidate assets. Talks to halt liquidations and revive the fund's finances failed late Wednesday after the value of collateral declined further, prompting an additional $97.5 million in margin calls. The fund's shares, which were first offered in July 2007 and are traded on the Amsterdam Stock Exchange, are now worth 43 cents each, compared with $19 when they started trading last summer. They have dropped more than 90 percent since the company's problems became public last week. In a statement on Wednesday, the Carlyle Group stressed that it had not purchased any of Carlyle Capital's securities and was linked to the fund only by name, the credit line and the fact that about 15 percent of the fund's securities are owned by Carlyle Group employees. The fund is run by John Stomber, a managing director at the Carlyle Group and a former executive at Cerberus Capital Management. 817-grey.gif
[Vo]:OT: fubar
http://www.nytimes.com/2008/03/16/nyregion/16scene.html?themc=th Ms. Krajacic, after recovering from her fainting spell, was stunned when she stepped outside and saw what was left of the flattened town house at 305 East 50th Street, which had housed a bar called Fubar on the ground floor. The top of the crane went right through the building, and it sliced it in half, Ms. Krajacic said.
