However, these pieces explain so many things.
"With seats available, Sox roll out ads; Record sellout streak in jeopardy as fans try to save" by Johnny Diaz, Globe Staff | April 21, 2009
.... The Red Sox are losing corporate sponsors and selling fewer premium seats after ratings for regular season games on New England Sports Network dropped 30 percent last year. While the ads are not necessarily aimed at selling tickets, Red Sox officials say they are aware of how a weakening economy can discourage even the most passionate sports fans.... The Boston Globe and 17 percent of the Red Sox are owned by the New York Times Co.... --more--"
Ooooooohhh, that explains the SELF-SERVING SPORTS COVERAGE in the "newspaper!!!!!" I'm still waiting to see the enviro protesters show up at a sports event -- especially baseball, where they cut down trees for bats (as opposed to my love basketball, which needs only underwear and a ball; that's why the slave-labor sneakers cost so much).
"Oracle acquires Sun for $7.4b; Changes, possible cuts loom for firms' 2,600 Mass. workers" by Hiawatha Bray, Globe Staff | April 21, 2009
.... "If I were employed there, I would be getting my resume ready, considering what Oracle has done in the past," said Tom Davenport, professor of information technology and management at Babson College in Wellesley. "They're pretty brutal about cutting people loose."
Oracle will use a combination of cash and borrowed money to pay for the purchase, which will cost Oracle $5.6 billion.... --more--"
Well, someone can still get loot and credit, 'eh, 'murkn? Just not you.
Related: The IBM Eclipse
And after hiding a recession for ten months, the we-sre-coming-out-of-it MSM is caught lying again.
"Leading indicators offer little comfort" by Bob Willis, Bloomberg News | April 21, 2009
WASHINGTON - .... A report yesterday from Bank of America, the largest US bank by assets, took some of the shine off the rebound in equities that began in mid March. The Charlotte, N.C.-based bank said first-quarter profit more than tripled on gains from home refinancing and trading. Still, the stock dropped as rising charge-offs for uncollectible loans overshadowed the earnings.
Increased lending and purchases of securities by the Fed since credit markets seized last year have contributed to a jump in the money supply, the biggest component of the leading index. Still, Fed chairman Ben S. Bernanke last week said the credit crisis will probably cause "long-lasting" damage to home prices and household wealth. --more--"
Yup, the MONEY SUPPLY ISSUE that will DESTROY the DOLLAR is RARELY DISCUSSED, while the ON PURPOSE CREDIT CRISIS ACCOMPLISHED ITS JOB of impoverishing the American people!
And about B of A:
"Net income for the first quarter rose to $4.25 billion"
No thank you for taxpayers, B of A? No kiss after fucking us?
As for your LOCAL BANK!
WASHINGTON - First they felt their reputations were stained by the financial meltdown. Now they're paying a price they protest is unfair.
Small bankers are complaining loudly that they had nothing to do with the excesses of big Wall Street firms, freewheeling deals in the mortgage market, and risky investments that precipitated the economic crisis. Still, in the meltdown's wake, community bankers find themselves under tighter scrutiny from federal regulators.
They say the $700 billion financial bailout has favored large institutions. And they are upset about a special assessment the government wants to charge to shore up the Federal Deposit Insurance Fund, which failed banks are draining. This all comes as the government, trying to stimulate the economy, is pleading with banks - big and small - to lend, lend, lend.
Related: FDIC Preparing For Massive Bank Failures
"People on the street should be interested because community banks account for 45 percent of all small business loans," said Camden Fine, president of the Independent Community Bankers of America. "They really are the engines of Main Street, and if you have an overly aggressive and overly harsh examining atmosphere, then that causes the community banks to pull in their horns."
Yeah, RESTRICT MORE CREDIT!!!
The big bankers say banking examiners have become more prickly with them, too.
"We're hearing from Congress that we need to lend and we're hearing from examiners to shore up the balance sheets," said Scott Talbott, senior vice president for government affairs at the Financial Services Roundtable, which represents large financial firms. "We are subject to incredible amounts of scrutiny."
What's really raised the ire of the community bankers, however, is the one-time, emergency assessment that all banks are being asked to pay to shore up the FDIC fund, which is struggling to back deposits in a rising number of failed institutions.
Related: Small Banks to Bailout Wall Street
And guess who will pay in the end (pun intended, taxpayers)?
The new emergency premium will be 20 cents for every $100 of their insured deposits. That compares with an average premium of 6.3 cents paid by banks and thrifts last year.
"Why are community banks paying for the sins of Wall Street banks?" Dean Anderson, vice president of Lake Elmo Bank in Lake Elmo, Minn., wrote in one of thousands of protest letters the FDIC received over the assessment. "Some community banks will not survive this outrageous assessment."
I think we know the answer to the first question, and the end result seems PART of the PLAN!!!!!
--more--"
Yeah, I love repetitive items passing as "news," don't you?
Meanwhile, look who is getting further bailouts:
DETROIT - .... Both automakers are living on a combined $17.4 billion in government loans and have said they'll need more money to survive....
Where is your government loan to live on, 'murkn?
If GM can swap much of its debt for stock and get concessions from the UAW and Canadian Auto Workers by June 1, the government says it will provide more loans to keep the company going. Bankruptcy financing also is possible if the company determines Chapter 11 is its best bet to achieve the cuts it needs.... --more--"
How come EXECUTIVE BONUSES are SET in STONE but LABOR is INVALIDATED whenever managemnet pleases? And WTF is with GM when they are expanding overseas?
Here's ANOTHER BONUS SITUATION you'll love, 'murka!
"Fannie Mae taps insider for helm; Williams, operating chief since '05, faced with challenge of turnaround" by Dawn Kopecki, Bloomberg News | April 21, 2009
WASHINGTON - Fannie Mae tapped chief operating officer Michael Williams to replace Herb Allison as chief executive officer of the mortgage finance company....
Allison was nominated by President Obama to run the Treasury office that oversees the $700 billion Troubled Asset Relief Program for banks.....
Fannie and its rival, Freddie Mac, together own or guarantee 56 percent of all US home loans. The two reported combined net losses of $109 billion for 2008 as mortgage delinquencies rose. The government seized the companies after examiners determined that their losses would further disrupt the housing market. Fannie has tapped $15.2 billion in emergency preferred stock investments from the Treasury. Freddie has taken $44.6 billion.
Fannie and Freddie paid $50.8 million in bonuses to retain key personnel last year and an additional $159.4 million will be awarded this year and next. Williams is getting the biggest payout at Fannie, $1.3 million, in four installments through early next year, according to Fannie's annual report to the Securities and Exchange Commission. --more--"
And the LOOTING CONTINUES!!!!!!
Related: One Final Fannie F*** From the Boston Globe
Gonna have to sneak the bailouts through on the sly:
"US may turn its loans to banks into stock" by Edmund L. Andrews, New York Times | April 20, 2009
Has ANYONE ASKED the TAXPAYER if they want that since it is OUR MONEY!!!!
WASHINGTON - President Obama's top economic advisers have determined they can shore up the banking system without having to ask Congress for more money any time soon, administration officials said. White House and Treasury Department officials now say they can stretch what is left of the $700 billion financial bailout fund further than they expected, simply by converting the government's existing loans to the nation's 19 biggest banks into common stock.
That would turn the government aid into available capital for a bank - and give the government a large equity stake in return.
So YOU-KNOW-WHO takes the HIT when they GO UNDER!!!!
While the option appears to be a quick and easy way to avoid a confrontation with congressional leaders who are wary of putting more money into banks, some critics would consider it a back door to nationalization, since the government could become the largest shareholder in several banks.
But if you even whisper that, the Obamapress of AmeriKa's MSM come down on you like a tone of bricks and nearly call you a crazy traitor!!!
Taxpayers would also be taking on more risk, because there is no telling what the common shares might be worth when it's time to sell them. Treasury officials estimate they will have about $135 billion left after they follow through on all the loans that have already been announced. But banks are believed to need far more than that to maintain enough capital to absorb all their losses.
Yeah, I'm gonna buy all their estimates based on self-serving paper shuffling, yup.
Also see: The Miraculous Turnaround of AmeriKa's Banks
I thought they were making profit now, so WTF?
In his budget proposal for next year, Obama included $250 billion in additional spending to prop up the financial system. Because of the way the government accounts for such spending, the budget actually implied that Obama might ask for as much as $750 billion....
ANOTHER $750 BILLION?
What is with that #, anyway? It's like 99 cents, isn't it? It's the closest they can get to a trillion-dollar looting without sending us into orbit.
Democratic leaders in Congress have warned they cannot muster enough votes any time soon in support of spending more money to bail out some of the same financial institutions whose aggressive lending precipitated the financial crisis.
Not without risking their very lives.
Administration officials acknowledged they might still have to ask Congress for extra money in the future.
Yeah, they will try to SNEAK IT BY US when we AIN'T LOOKIN'!
This mean anything to ya?
Beyond the 19 big banks, the Treasury has also injected capital into hundreds of regional and community banks.
Oh, yeah, the Feds have really been helping out the community banks!!!!
You SICK of the MSM BULLS*** like me?
