This is rant from a friend of one of my daughters in New York. It convinces me that we all need to take a deep breath.
"Subject: But other than that, how was the play Mrs Lincoln?
great time to be a securities or bankruptcy lawyer. BOA caught lying yest re Federal backstop on the MER takeover, was material and not disclosed prior to merger. They gonna take a beating. AAPL caught in lies re Jobs, this could get really messy. Somebody lied/mislead a couple idiot media folks, discovery will be a disaster for Apple. Ugly but overdue, they got a pass when they were caught red handed on the backdating. Wild, wild days, when will the media stop talking about Obama's smooth transition? This is the worst transition in memory. Hillary got a pass, Bill is still allowed to collect donations/bribes. She acted on behalf of 6 of his major donors as a senator, in each case taking formal action either 1 month before or after the money changed hands. Richardson DOA, and he was the second choice. Blago fiasco that obama should have been able to control and kill in DC. Now Giether is hanging by a thread. Wish I had some cash, intrade kept him in high 90's follow the disclosure. Insane, he has limited Dem backing, now Republicans have the ability to kill if they wish (which is an open question). Tax cheat running the IRS? Does that make sense? And he has been neck deep, #2 or 3 player in TARP fiasco, how's that working? As Pres NY Fed he was chief Regulator of all the NYC based IB's that levered up and destroyed the economy. But other than that he's perfect.
If we turn back the clock, go back to the way unemployment was historically calculated (LBJ and Clinton both altered the statistical calculation) we are around 16/17%, not the 7.2 you see in headlines. keep that in mind when they tell you it's not bad.
http://www.reuters.com/article/newsOne/idUSTRE5077TM20090109
when we hit 9-10%, and we will, we have have more unemployment than the great depression. And the mets will still suck in Sept."
He thinks he's got problems--I'm a Jets fan!!!
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