Economy UP

“http://blog.thehill.com/2008/06/03/soros-testifies/

I'll have to see if I can find some tape on Greenberger's testimony (or transcript). � He's the former Director of the Futures, Commodities and Trade Commission and was a guest on Washington Journal(C-SPAN) a few days before the hearing.”

“It's the economy, Stupid Jr.”

“Do a search on 'Michael Greenberger' and 'oil' then stand back -----”

“The NYSE, the Capitalist's Castle, has now only 10% domestic US business. They sound like real 'homeboys' when those figures are compared to the 5% of world population that comprise that 10%”

“oil up over 10 bucks a barrel today! Whoo Hoo

We should just shoot our load now, push gas up to rates we cannot afford and push us into a depression. If no one can afford it, oil companies should loose then, right?”

“We import 78% of ours(not 65%). So, we use 19.5% of the worlds non-US production, so, that's one for each five- that'll teach um. Imports will drop in July when the SPR gets shut.
last edited: 6/06/08 11:25:27 AM”

“Yup. the problem is, there's about two billion chinese waiting to buy...”

“I thought the price of oil was Obama's fault.”

“Their oil will soon be smuggled in disquised as yellow cakes from africa.”

“Market has crashed! Down 336 and still going.”

“7 years of Bush and 6 years of Bush & total republican control =
* lower paying jobs
* more money for extreemly wealthy people
* costly bungled war in Iraq
* high unemployment
* large amounts of job going overseas
* less products being made in USA
* very high oil prices
* forclosure nightmare
* republican congressmen and senators banging other men
* republican congressman or senators stealing money
* inflation
* recession
* stagflation
-----elected by moron nation”

“Stockings are down to $3.36, hope they have green that will match my bow and feathered hat.”

“Still think Ross perot was a bad idea?”

“I don't know Lumber, my knees are so soar from crawling around looking under tires, that I can't understand them gas tax things.”

“"The issue of economics is not something I've understood as well as I should."
- John Dubya McSame”

“It just goes on and on.”

“O, own and own?”

“The system is not broken. The system is not broken. The system is not broken. The system is not broken. The system is not broken. The system is not broken.The system is not broken. The system is not broken. The system is not broken.The system is not broken. The system is not broken. The system is not broken.The system is not broken. The system is not broken. The system is not broken.The system is not broken. The system is not broken. The system is not broken.The system is not broken. The system is not broken. The system is not broken.The system is not broken. The system is not broken. The system is not broken...


Tax loopholes seen costing billions annually 49 minutes ago

WASHINGTON (Reuters) - Tax and accounting loopholes that largely benefit rich taxpayers and companies cost the government $20 billion a year even as the pay gap between chief executives and employees has widened, two groups said on Monday.

The biggest loss comes from a "stock option accounting double standard" that allows corporations paying executives stock options to deduct more than their actual expenses, they said.

For example, when UnitedHealth Group Inc paid CEO William McGuire 9 million stock options, it put on its financial statement that the compensation cost the company nothing, according to the Institute for Policy Studies and the group United for a Fair Economy.

But it claimed a tax deduction of $317.7 million, the groups said.

That practice alone costs the U.S. government $10 billion a year, the groups said.

A practice known as deferred compensation -- which allows executives to defer an unlimited amount of pay -- costs the government $80.6 million a year, while other loopholes bring the total lost tax revenue to $20 billion, the groups said.

"It's outrageous that our tax dollars are inflating executive paychecks," said Sarah Anderson, an author of the report. "Surely in these troubled economic times we can find better ways to spend our nation's wealth."

The report said large U.S. companies paid CEOs an average $10.5 million in compensation last year, 344 times what the average worker earned.

That gap is expected to grow as the industries adding workers are those with the biggest pay gaps, the groups said.

(Reporting by Diane Bartz; Editing by Braden Reddall)”

“It's expensive to buy new loopholes, give these struggling tax victims a break.”

“Tax loopholes seen costing billions annually 49 minutes ago


This was news to Reuters 49 minutes ago? Where have they been the last 49 years?


Ah, the evil rich again......how do we all manage to survive with them around?

I bet no one on TT uses loopholes to avoid taxes.”

“Aren't we forced to?”

“-222.27”

“Lehman collapses, Merrill deal to stave off collapse.

Please report to the lipstick on a pig thread as that's far more important.”

““My goodness. I’ve been in the business 35 years, and these are the most extraordinary events I‘ve ever seen,” said Peter G. Peterson, co-founder of the private equity firm the Blackstone Group, who was head of Lehman in the 1970s and a secretary of commerce in the Nixon administration.”

“I heard on the radio this evening that this may end up being a good thing. Yes, the market will tank initally, however this will allow mide size banks to take bits out of what Lehman had for years.

I just put some lipstick on. Hail Palin!”

“I just put some lipstick on. Hail Palin! - you sexist bastard!!!!! ;op

AIG seeking $40 billion fed loan to stave off collapse.

It all depends on who else goes and how dry the credit markets get.

In and of itself the collapse of a giant is not necessarily bad, but at some point all these events start doing a lot of longer-term damage to the real economy.
last edited: 9/14/08 8:13:16 PM”

“Chapstick with sunblock --- SPF 15

� � � http://www.kevdo.com/lipbalm/

”

“poor babies”

“We need to let the markets take care of themselves. Let these badly run businesses sink and let the survivors take up the slack.

The government has no business being in business.”

“It's punny because it's true!”

“If I screwed my business up I'd be SOL.”

“Government shouldn't bail them out nor tell them who they have to make loans too.”

“If the financial system were allowed to collapse, the world would resemble a Mad Max movie.

What is needed is effective oversight.”

“What is needed is effective oversight.



So that leaves government oversight out.....who did you have in mind?”

“Where did all that tax subsidy on first and second mortgage interest go? 'Perfect system perfect world, brothers to the end - Yes I know'.”

“So NonC - you know I don't like putting words in your mouth ;op - so what do you think about it?”

“If the financial system were allowed to collapse, the world would resemble a Mad Max movie.

What is needed is effective oversight.�
VioLiN
7:17:13 AM
9/15/08

True dat.

Would it look like a Mad Max movie or an OSU victory party?”

“Yeah, Yeah ---- 'Regulation is Evil'.....

� � � � Well, congratulations.”

“Just watching the McCain camp trying to distance themselves from this debacle.

Only they want just more of the same - no regulation and corporate tax cuts.”

“I heard the chairman at Lehman got a $20 million bonus last year ----

� � � � � � � JFC!

”

“Why don't you all like, 'Toobig to Fail' regulating government?”

“This is kinda what makes it scary Tilt - this was not a bad bad company really. This wasn't a huge risk-taker like Bear Stearns. I think this year was the first time they ever posted a loss.”

“It's the age of PNAC, don't be a bunch of '20th Century Fux'.”

“First and Last time?”

“I think I finally figured it out. Y2 is afraid of Bush leaving office. It scares him because then he won't have some figure to blame everything on so he simply trying (a little too hard btw) to project that onto McCain so he remains secure.

Am I close? If not simply give me a piece of candy, pat me on the head and send me on my way.”

“I think he's just lonely.”

“Nigal - so chit happens then?? ;o) - and no candy for you!”

“There's a couple of things at work here Nigal.

The Bush policies and continaully pandering to corporations have left the middle class squeezed.

The lack of regulation has enabled the finanance firms to go wild in terms of risk.

The lower middle classes started struggling to pay their bills, (point 1) this exposed the huge bets an unregulated banking and finance sector had made with America's future.

There are some key policy failures at work here Nigal.

And recessions happen, but there's some systemic failures here.”

“It was the Clinton presidency that forced banks to throw out their time tested and industry approved underwriting rules in order to finance loans for credit risk home buyers. The legislation that put that in place is what sowed the field we are reaping now.”