although the lack of action that maybe the consequence...to turn the U.S. into a 3rd world country...
but there are a host of policy changes that can be done which could stop this global hunt for cheap labor. That's trade, the definition of a corporate entity itself, the tax code, regulation, and then do something to start creating a global minimum wage.
We have the skilled workforce. For our multinationals, we have the market. But they're still playing the old wage arb game. It's going to take a collapsing dollar to get 'em back, sadly.
got a $1.6 bil balance in their trust fund right now, collects about $772 mil annually, and is burning through $1.7 bil year over year in UI benis. So they are good for just under two years of this before they hit a wall. Remember that OR has had a pretty good economy up until lately.
On my email. Ya. I had to change it. Lycos closed my account, I'm using gmail now. Does the database automatically update when I change the email I use for contacts in my profile?
This could get ugly. Some analysts estimate as much as $900 billion of "off balance sheet" investments would be added to financial conglomerate balance sheets. The rule takes effect for financial statements after November 15, 2009.
The role of the "shadow banking system" in the financial crisis. How did the use of Special Investment Vehicles contribute to the crisis? Did legislation and/or regulation loop holes or regulator disregard that allowed the proliferation of the "shadow banking system"?
Giving more power to the Federal Reserve to be the uber-regulator of banking and finance is a terrible idea (I examine the dangers in a forthcoming Nation article). Asking the cloistered central bank to resolve all the explosive questions about the over-reaching power of financial institutions is like throwing the problem into a black box and closing the lid, so people will be unable to see what happens next. That is the idea, after all, the reason Wall Street's leading firms first proposed the Fed as super-cop, then sold it to George W. Bush and now Barack Obama. Give the mess to the Wizard of Oz, the guy behind the curtain. He can do miracles with money, but don't watch too closely. This constitutes the high politics of evasion.
Obama Administration is giving the financial oligarchy exactly what it wants.
need a systemic risk regulator. A systemic risk regulator, particularly the Fed fulfilling that role, will only be as good those leading the function. For instance, the Fed under Greenspan had an opportunity to prevent many of the subprime lending abuses that were occurring but did nothing because Greenspan was a free market fundamentalist.
The only way it works is if we create an separate entity that is relatively independent (nearly impossible) such as the Fed. But that adds another regulatory to already congested web of regulators. Does TBTF serve any public purpose?
Surely it's only a matter of time for Oregon. They have one of the highest unemployment rates in the country and then on top of it, it's a state controlled by the illegal alien lobby. Sorry but they continually do nothing to purge their social services rolls of illegals,, very similar to California. I think this is a big fat problem that isn't being recognized, the drain on state resources that illegal immigration causes.
I'm very surprised to not see it on this list.
Great work manfrommiddle. Did you know your email address bounces?
They borrowed short-term and lend long-term. The problem is that short-term borrowings are coming due - they have $10 billion in 2010 and it sounds like they are having a difficult time refinancing that - the loan portfolio is contributing to the problem.
are being restructured, no? Maybe this is what is going them into trouble? I mean this seems very odd on unequal treatment vs. something like Citigroup.
and that was probably where they started but of course they thought they could expand into other areas such student loan. Here is a link to their 10-Q filed on May 11, 2009:
I'm seeing all of these reports, including Bloomberg's latest that somehow this is directly tied to manufacturing, but I know little about CIT. From the CIT Group website, it appears they are heavily focused on trade loans, services and that would imply manufacturing.
So, do we have yet another example here where manufacturing gets the shaft while huge Zombie banks who provide little to the real economy (ya know, make real things?) get the cash?
Where is the bailout for the American People?
http://www.youtube.com/watch?v=5j57qdQi8Qg
Then on October 8, 2009 I produced this video:
Don't Vote for Traitors Obama or McCain
http://www.youtube.com/watch?v=HzZ1N1Mm4Dg
In this 2nd video I said that we should give a $150,000 bailout to all adults over 20 which would have to pay off all debt: mortgage, credit, student loans etc. Only after these debts are paid would the citizen get to keep any remaining money. Based on 200 million Americans I concluded that this would cost 30 Trillion dollars and would be quite a hard sell.
Well fast forward to July 2009. The Fed has now spent of earmarked nearly 15 Trillion dollars and not one red cent is going to the American People. Instead it is going to the Global Elite, Foriegn Banks and goodness knows where else since they won't tell us anything about where the money is going.
So it turns out my advice was spot on. My bailout would have stabilized housing prices by essentially taking all of the housing supply off the market and made safe from the greedy foriegners that are now buying up our homes. It would have made American citizens secure in thier homes.
It is not too late. We need to demand that every cent given to the Fed is returned to the people and my plan enacted.
Obama is betraying us. And it is time we did something about it.
The future of your children is at stake. And your future as well.
Let's start calling Obamna what he really is: a traitor to the Anerican people and a shill for the New World Order.
Perhaps in 2012 you will think about electing someone like me to the White House?
Goldman Sachs Executives Sold $700 Million Of Stock
Most of the sales occurred while Goldman Sachs was a TARP recipient.
although the lack of action that maybe the consequence...to turn the U.S. into a 3rd world country...
but there are a host of policy changes that can be done which could stop this global hunt for cheap labor. That's trade, the definition of a corporate entity itself, the tax code, regulation, and then do something to start creating a global minimum wage.
We have the skilled workforce. For our multinationals, we have the market. But they're still playing the old wage arb game. It's going to take a collapsing dollar to get 'em back, sadly.
--------------------------------------------
www.venomopolis.com
You might also put a link over on Agent Orange that it's originally posted over here.
You're formatting is running together too, makes it difficult to read.
One reason I heard FCDC's were popping up is the skilled workforce. Shame U.S. corporations cannot see that but it's is very good news FCDCs are!
got a $1.6 bil balance in their trust fund right now, collects about $772 mil annually, and is burning through $1.7 bil year over year in UI benis. So they are good for just under two years of this before they hit a wall. Remember that OR has had a pretty good economy up until lately.
On my email. Ya. I had to change it. Lycos closed my account, I'm using gmail now. Does the database automatically update when I change the email I use for contacts in my profile?
FASB decided to eliminate the exempt for "qualified special purpose entities". The potential impact is that all of those "off-balance sheet"/shadow banking type stuff has to be publicly reported on balance sheet.
This could get ugly. Some analysts estimate as much as $900 billion of "off balance sheet" investments would be added to financial conglomerate balance sheets. The rule takes effect for financial statements after November 15, 2009.
did you see that quote on my latest post on the Fed.? The plan is to keep the shadow banking system alive?
The role of the "shadow banking system" in the financial crisis. How did the use of Special Investment Vehicles contribute to the crisis? Did legislation and/or regulation loop holes or regulator disregard that allowed the proliferation of the "shadow banking system"?
Greider suggest that as well.
I like what William Greider said:
Obama Administration is giving the financial oligarchy exactly what it wants.
need a systemic risk regulator. A systemic risk regulator, particularly the Fed fulfilling that role, will only be as good those leading the function. For instance, the Fed under Greenspan had an opportunity to prevent many of the subprime lending abuses that were occurring but did nothing because Greenspan was a free market fundamentalist.
The only way it works is if we create an separate entity that is relatively independent (nearly impossible) such as the Fed. But that adds another regulatory to already congested web of regulators. Does TBTF serve any public purpose?
Surely it's only a matter of time for Oregon. They have one of the highest unemployment rates in the country and then on top of it, it's a state controlled by the illegal alien lobby. Sorry but they continually do nothing to purge their social services rolls of illegals,, very similar to California. I think this is a big fat problem that isn't being recognized, the drain on state resources that illegal immigration causes.
I'm very surprised to not see it on this list.
Great work manfrommiddle. Did you know your email address bounces?
Big Orange.
They borrowed short-term and lend long-term. The problem is that short-term borrowings are coming due - they have $10 billion in 2010 and it sounds like they are having a difficult time refinancing that - the loan portfolio is contributing to the problem.
are being restructured, no? Maybe this is what is going them into trouble? I mean this seems very odd on unequal treatment vs. something like Citigroup.
and that was probably where they started but of course they thought they could expand into other areas such student loan. Here is a link to their 10-Q filed on May 11, 2009:
Link
I'm seeing all of these reports, including Bloomberg's latest that somehow this is directly tied to manufacturing, but I know little about CIT. From the CIT Group website, it appears they are heavily focused on trade loans, services and that would imply manufacturing.
So, do we have yet another example here where manufacturing gets the shaft while huge Zombie banks who provide little to the real economy (ya know, make real things?) get the cash?
On July 19, 2008 I produced the following video:
Where is the bailout for the American People?
http://www.youtube.com/watch?v=5j57qdQi8Qg
Then on October 8, 2009 I produced this video:
Don't Vote for Traitors Obama or McCain
http://www.youtube.com/watch?v=HzZ1N1Mm4Dg
In this 2nd video I said that we should give a $150,000 bailout to all adults over 20 which would have to pay off all debt: mortgage, credit, student loans etc. Only after these debts are paid would the citizen get to keep any remaining money. Based on 200 million Americans I concluded that this would cost 30 Trillion dollars and would be quite a hard sell.
Well fast forward to July 2009. The Fed has now spent of earmarked nearly 15 Trillion dollars and not one red cent is going to the American People. Instead it is going to the Global Elite, Foriegn Banks and goodness knows where else since they won't tell us anything about where the money is going.
So it turns out my advice was spot on. My bailout would have stabilized housing prices by essentially taking all of the housing supply off the market and made safe from the greedy foriegners that are now buying up our homes. It would have made American citizens secure in thier homes.
It is not too late. We need to demand that every cent given to the Fed is returned to the people and my plan enacted.
Obama is betraying us. And it is time we did something about it.
The future of your children is at stake. And your future as well.
Let's start calling Obamna what he really is: a traitor to the Anerican people and a shill for the New World Order.
Perhaps in 2012 you will think about electing someone like me to the White House?
Yours in Peace and Freedom,
Bruce W. Cain
Goldman Sachs announces that it has 'no material exposure' to CIT. That could mean CIT is doomed.
Geithner Says U.S. Has Authority to Address CIT
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