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Posters on the Oil Drum tried to discredit the estimate of the Purdue Professor who said it was 70,000 barrels a day saying that size well does not exist in the GoM.
Even now there is an effort there to say the flow cannot be that high. Funny a couple of posters are saying that their eyes say its not that high. Of course when someone says the flow is still tremendous based on what someone sees coming out still the answer is that you cannot go by what you see.
They are losing credibility there by the hour.
I just love these friggin' gambling chips. The credit default swaps on BP are now at 35% probability of a total default. That's just great. Now who is gonna make money when BP goes down? It's not the U.S. or the gulf region.
The story leads with a woman who did not appear for her court date and thats why she was arrested. She was not arrested for owing money.
These are civil cases so people are being arrested for failure to appear for a court date or failure to meet agreed upon court payments. If someone can't make payments they have an obligation to inform the courts of that. I'll wager Minnesota law has some arrangement for the debtor to inform the court of a change in circumstances.
Its a civil matter so the collection agency should not be able to get a warrant issued just for owing money sans a court hearing. If thats the case someone has to challenge the law.
Failure to have an ability to pay hearing prior to issuing a warrant for failure to pay a debt would be unconstitutional. This case below is about fines but covers debt collection also. Part of the problem is that these people are strapped for money so they don't have lawyers and it would seem no one is challenging these laws which are unconstitutional.
Bearden v. Georgia, 461 U.S. 660 (1983)
I'm surprised the Southern Poverty Law Center is not involved in this. Its right up their alley.
only because there has not yet been a recovery!
Here we go, lots of pounding, hearings and at the last minute, not a damn thing is changed.
The oil spill rate estimate (official) was raised CNN.
I know really suspect the well itself along with the BOP is deteriorating. If you have looked at spillcam over time, the flow itself has visually increased, it's not constant, static....
which is super, super bad news.
What's good for the Goose should be good for the Gander. We have Congress telling oil executives as well as bank executives to commit suicide. It's happened twice now. I'm sure the response is "not without my bonus"!
But it begs the question, why isn't Congress being asked to do the same thing? They have royally screwed this country over and over again, so how come they are not asking themselves, along with corporate executives to "fall on their swords".
Just absolutely beyond the pale, what's wrong with these people. Yet when it comes to bonuses, you can bet those won't be stopped.
BP is downgraded to one step above junk. There is now a lot of talk about BP bankruptcy. I would not be surprised for it would protect them from creditors.
BP also hired ....our friend, Goldman Sachs to guard against hostile takeovers.
There already is a situation where criminals have to repay a host of services so it becomes a financial black hole. Pay for their parole and so on when earning minimum wage. It's almost a guarantee to turn to crime, as debtor's prison was.
yesterday on Ritholtz. Claimed the probability of a double dip was zero. Zero. Right, now where have we learned about probability recently?
Glad to see you got some time to author midtowng! We missed your insights around here.
Try to visualize a second round of bailouts in the near future. It's really not so hard. Does anyone one imagine that there is anything less than systemic risk involved. By systemic, I mean something a lot bigger than the banks or financial system.
The second collapse of the financial system is one that the hierarchy will have difficulty explaining, apologizing, lying about.
This fraud is being peddled as 'reform', that it will really fix things, and it is so transparently pointless and corrupt.
Ya know, by now maybe some of those Obamamaniac bloggers are feeling the pain. I managed to remain unscathed by the "purge" for anyone who wasn't an Obama fan but it was unreal in their devotion. This is what's wrong in focusing in on trivial issues, ignoring facts, ignoring statistics and economic theory. This is also why I said corporate funded Ms. India representative herself, Hillary was the better candidate. They just didn't get it.
Even worse, the exact same thing is going on. Instead of forming a host of policy positions that are based in economic sanity, proven to work and most importantly are not bought and paid fors by corporations, we get more rhetoric, more sound bytes and as a result we have Populist rage being funneled into.....uh, the Tea Party? Jesus, have you heard anyone out of those people that makes sense, including it's not "big government" it's corrupt and ineffectual, wasteful government?
I knew this would happen and it's an outright crime. These people are so corrupt, so absurd, they literally are refusing to reform a financial "system" with such obvious, brazen public ripoff and gambling it brought the entire globe to it's knees and ruining the economic future of the nation. Here they are, making sure it happens again.
Your thinking (and others) mystifies me? According to the "official story" the attacks on 9/11/01 were perpetrated mostly by Wahabist Saudis.
You might try reading Brzezinski's memoirs (he was the National Security Council director under Carter who, with his Saudi buddies, relocated Wahibist Islamic fundamentalists from the region (especially Saudi Arabia) to the northern Afghan border to promote instability there -- and it worked -- destroying a secular government in Kabul, Afghanistan.
Beyond economic imperialism, there's no valid reason American forces and mercenaries should be murdering and pillaging in Afghanistan (let the Afghans kill the Taliban, or let them embrace them as they so see fit).
It was the Carter and Reagan Administrations who continued to finance the worst of the worst, the Mujahideen -- the precursors to the Taliban -- who then proceeded to murder all those academics, any teachers, professionals, etc., who were still in country and hadn't fled yet from the Soviet invasion.
It's been America leading the way in the modern destruction and murder in Afghanistan, and the sooner the illiterates and lowbrows who are educationally-challenged in Ameritard-land face up to that, the sooner this society will move towards a more ethical stance.
Please remember, Sharia Law has spread and increased dramatically in that area with the incurions and interference of America in that region --- an no civilized person would wish to see that!
This is really bad news. There is sand and problems in the well, reservoir as well as the damaged BOP, which are eroding the well casing and increasing the amount of oil that can get through.
As mentioned previously, it's just BP lowballing or being in denial, the flow rate is a moving target and is obviously increasing.
Even worse, instead of putting the captured oil in a tanker to be processed, they are going to burn a lot of it off.
That's stupid because it represents millions, daily, that could be sold to offset costs.
It's not like America magically stopped needing oil when this happened.
This is why politicians and pundits should NOT control trying to stop an oil disaster. The press release is lightning caused the fire but the reality is they are sitting in a sea of volatile oil, on top of a well that originally blew up, they are burning off massive amounts of gas on these ships and the area has extreme ship traffic.
They supposedly have it out but this is scaring me to death. What do they not get that the original blow out was due to bypassing safety due to pressures "from above".
Highly predictable and easily predictable, as I mentioned in my other remarks the other day.
Lincoln did an obvious feint, just as Cantwell did on her phony vote (which she knew wouldn't count) against the so-called financial reform -- whereas Sen. Feingold really meant it and voted consistently, but Bush-dog Cantwell, who has voted to spread depleted uranium throughout the planet, and kill as many foreigners as possible with all her pro-war votes, and voted to offshore any and all American jobs whenever the opportunity presents itself, along with Lincoln, are dangerous cretins.
Just as Obama ("Go and eat seafood from the Gulf!" sounds eerily like Bush's admonishing us to go shopping after 9/11/01, doesn't it?) is far more dangerous than Bush, 'cause we knew Bush was evil, but there are still too many rubes who aren't familiar with any of Obama's neocon and neolib appointees.
And private equity funds often behave as hedge fund, along with PE firms actually owning a number of hedge funds, and hedge funds investing in PE firms' LBO funds, completely and totally interlocking.
And from this NY Times article (no surprise as I've been closely following that devil, Eric Holder):
Wells Fargo (in particular, yet among others) are luring home owners into the HAMP program to take advantage of government stimulus money, after the initial 3 month trial period they deceive the homeowner by telling them to continue their modified payments when in fact the mortgage payment has been set back at it's original payment in their system. They are tacking increasingly potent fee's onto the original loan amount. The more the loan is the more tax credit they get from the government as well as compensation for their "loss". They sell these homes at a fraction of their worth in auction/foreclosure and are paid the remainder by the government.
* Join us on Facebook: People Against HAMP
We are in contact with an Associated Press writer, please contact us if you have gone through this situation with Wells Fargo or any other bank as well. smoorgie@hotmail.com
US Government finally figured out the 2007 ChiCom hack. It was alleged to be an upload from a USB flash from a sneeker network inside the Pentagon.Every major agency was compromised. ChiComs must have found out how many stooges they are dealing with. Then there was the spectacle of US Commerce Guttierez gettingt his laptop hacked while on a trade visit to Beijing.
Next comes the electric cars which will upload all their charging data into
the electric grid. GM will use OnStar Nissan will share this probably. So what happens when many of the chips or subsystems come from our friendly neighbor in the East? Chinese Electrics cars will upload their data, using their algorithms on their chips. Can you think of a better way to stage a Trojan? Warren Buffet is the biggest cheerleader for China's Electric vehicle.
Obama's Treasury Dept Working To Defeat Derivatives Proposal 'Of Utmost Importance' To Reforming Wall Street. Maybe we can nominate him for an Oscar. I'd suggest his performance on the campaign trail, or maybe his performance on the Gulf. Did you see that scowl? We're losing the gulf war .
Over and over again. Corporations pour billions into "PR" and "marketing" and "messaging" and "media" and of course corporate attorneys writing really shitty NDAs and so on...
but when it comes to the engineering, the integrity of a product, from finance to oil to cell phones....
corners are cut.
as a write up. Just unbelievable! How to F&*K up the #1 economy in a matter of 30 years. I think that's a record for history isn't it?
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