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no_such_reality
ParticipantOh, the hole is getting stinky.
[quote]At Dorner’s disciplinary hearing, numerous officers testified about a July 28, 2007, “use of force” incident at the Doubletree Hotel in San Pedro in which Dorner’s training officer, Sgt. Teresa Evans, shot a mentally ill man with a Taser gun to subdue him when Dorner and the man struggled and fell into bushes.
Other officers and witnesses described the use of force similarly, but Dorner filed a report saying Evans had kicked the man twice in the shoulder and face, and discouraged him from including the information in his police report.[/quote]ParticipantLooks pretty hard to explain, IMHO. This is the women’s truck.
http://latimesblogs.latimes.com/.a/6a00d8341c630a53ef017d40da0bf1970c-640wi
ParticipantHe isn’t going to the klink.
Looks like Point Loma may be the final stand. (If they’ve got the right ID)
Egads, I think I just saw the TV feed on the LATimes site and one of the newscaster is opining that if you have a dark truck you should think about taking an alternate vehicle today…
ParticipantA little light reading from the Philly Fed Reserve:
WORKING PAPER NO. 11-30/R
COLLATERAL DAMAGE:
SIZING AND ASSESSING THE SUBPRIME CDO CRISIS That’s the May 2012 report.The August 2011 working paper had the following ditty in it’s abstract (Link):
“show how some 5,500 BBB-rated subprime bonds were placed or referenced into these CDOs some 37,000 times, transforming $64 billion of BBB subprime bonds into $140 billion of CDO assets.”
Both highlight that the 1999-2007 CDO market was only a $641 billion.
With a 75% loss rate (wow, way wrong I was), wouldn’t it have been a lot cheaper to just backstop the loss.
Participant[quote=UCGal][quote=no_such_reality]S&P doesn’t rate bubbles.
And more importantly, the real problem that started it was basically an insurance company threatening default.
That default was in turn driven by a whole bunch of common schmoes lying and committing fraud on the loans, IMHO.[/quote]
That same company (AIG) appears to be back in the thick of things for CDS and Collateralized Subprime garbage.
No UCGal, that’s an ABS, a securitized bundle of subprime personal loans. Very different than a CDS, credit default swap.
It’s a different bundle of junk (probably car loans) but the exact same concept of securitization of mortgage loans that has been occuring for 30+ years.
The CDS were a problem, when the ABSes were bundled into CDOs putting 100lbs rotten apples in a barrel and selling rights to each 1lb, with top tranches being promise the ‘best’ pound. The CDS is the insurance against you getting rotten apples. Much like a a barrel of apples, rot spreads.
And the best part, you could bundle your CDS obligations into a CDO and sell CDS on your CDO of CDSes. Which is what AIG was buying, err, selling? Oh well, they where insuring the CDOs of CDSes.
Now why do that? Simple, make mo’ money! Podunk Casualty could sell $100 Billion of ‘insurance’. Then bundle it, tranche it and buy ‘insurance’ to cover the tranches cheaper than it cost to ‘sell’ the original insurance. Sounds nutz in retrospect, but in reality, requires a bit of a psuedo-black swan to go bad.
Why would AIG do that? Mo’ Money!
How good the apple were alluded to be or how declared the apples were of not being examined at all. And the farmers producing the apples are claiming “US Extra Fancy Grade” when the reality is they aren’t even the lowest Utility grade.
And ironically, I suspect the CDOs or the original mortgages didn’t actually perform that bad. The CDOs of CDSes did once the market realized someone missed the rotten apples in the barrel.
ParticipantS&P doesn’t rate bubbles.
And more importantly, the real problem that started it was basically an insurance company threatening default.
That default was in turn driven by a whole bunch of common schmoes lying and committing fraud on the loans, IMHO.
ParticipantAll hail Rome!
ParticipantBoxing, judo, jui-jitsu, tae kwon do, football, lacrosse, even soccer.
Potential serious injuries. Or girls gymnastics, actually, the most injurious.
The reality is it all depends on the rules instituted and enforced for the matches. Tough call, would I rather my kid was trained and in an MMA match with well thought out combat rules or on the field with the kids of some of the foaming at the mouth parents I’ve seen just screaming win at the kid…
Participant[quote=AN]But we can keep on pumping more money into government and we’ll get .com v3.0 and v4.0.[/quote]
ROFLMAO!
Seriously, the Internet is a by product of basically co-opted and illegal use of government resources.
Go read about ARPANet.
Here’s a hint, an MIT handbook from the early 80s:
“It is considered illegal to use the ARPANet for anything which is not in direct support of Government business … personal messages to other ARPANet subscribers (for example, to arrange a get-together or check and say a friendly hello) are generally not considered harmful … Sending electronic mail over the ARPANet for commercial profit or political purposes is both anti-social and illegal. By sending such messages, you can offend many people, and it is possible to get MIT in serious trouble with the Government agencies which manage the ARPANet.”
While we’re at it, let’s pump some more money in Solyndra too, so we can get V2.0.
Participant[quote=craptcha][quote=no_such_reality]“If you’ve got a business — you didn’t build that. Someone else made that happen.” [/quote]
Expanded quote, from your link
If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business — you didn’t build that. Somebody else made that happen. The Internet didn’t get invented on its own. Government research created the Internet so that all the companies could make money off the Internet.[/quote]
LOL aside. Group think in action.
ParticipantJanuary 31, 2013 at 1:31 PM in reply to: The Real Story Of How ‘Untouchable’ Wall Street Execs Avoided Prosecution #758731ParticipantBut we’re not insolvent. We’re just irrational.
We’re having our cake and eating it too.
In essence, we’re blithely consuming away while we’re running our credit card on the introductory rate.
When that rate ends, we’ll have to make a choice of cutting 35% of everything, or increasing collected taxes by 50% or a combination thereof.
Meanwhile, we’re putting 5 Apollo Moon Programs on the credit card a year with I’m not sure what to show for it.
January 31, 2013 at 8:57 AM in reply to: The Phil Mickelson Effect and California: Taxed to the MAX!!! #758714ParticipantCAR, if people didn’t line up in droves to buy the cr*p, those obscenely paid athletes wouldn’t get paid.
As for idiot boy, I can choose not to pay to see his events, I can choose not to watch his events, I can choose to buy his sponsors competitor’s products.
That last part is the key. For sponsors like Callaway, his largest sponsor, it’s as difficult as picking up the competitors clubs standing next to the sponsors clubs in the golf shop.
For Exxon, probably 50% of the time, the competitor is literally on one of the other three corners of the intersection.
To choose different cops, or teachers, or governmental bureaucracy, it’s sell the house, move, change schools, uproot/close/restart your business.
Now for math. The masters has about 7 Million people watching it live. Most of them are tuning it to watch probably less than 10 of the players.
On Sunday, over 100 Million people are expected to watch the Superbowl.
Every month Oprah use to pick a book, it pretty much instantly sold a million plus copies.
That elementary teacher has 20 kids in their class.
Now if the teacher inspires every kid’s parents to spend an average of $1000, they’ll have $20,000 for the school.
On Sunday, if they inspire 1 in 10 viewers an average spend of $100, they’ll have $10,000,000,000.
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