patrick.net

I thought FAB said Napa was dead during that weekend.

The responsibility for the big holes in the TARP lie with Henry “3-page” Paulson and George Bush. Lest anyone forgets.

I didn't mean we are good with these guys. We already know what these guys are, just had some hopes on the new guy. What I am tired of is digging new holes to fill the hole we are in. He throws a Trillion around and talks about bringing deficits under control (or starting a discussion about it). He talks about helping responsible home owners and we all know it can be gamed easily. He does all the nice talk and his actions are far from his talk. His pay restrictions on executives just covers a few top guys who will be compensated different ways at a later time.

To save money, this is the best romantic suggestion...

Let's be spiritual and meditate. You and me. Close our eyes. I see roses...

Politicians, and their voters, must understand that inaction is often the best course of action.

The "let's do something about it" mentality must change. It only reflects the arrogance and ignorance of humanity.

Let’s be spiritual and meditate. You and me. Close our eyes. I see roses…

Yeah Pete, that'll get you laid.

Yeah Pete, that’ll get you laid.

It is all in the mind. ;-)

Correction:

PP, so then why did the people NOT show up in Napa for a “romantic weekend”?

PP, so then why did the people NOT show up in Napa for a “romantic weekend”?

Napa is quite expensive. Perhaps people want to save money.

Need to market my "Mind, Body, Spirit - How to date a girl for free" video. :)

Well, if you don't consider so-called "fine dining" an expense, then you may be correct, or at least up to a point.

Close your eyes, and imagine you are geting a spoonful of Creme Brule...

I taste vanilla.

Only one event this Bank Failure Friday?

Only one event this Bank Failure Friday?

Yes, only vanilla creme brule.

http://www.ft.com/cms/s/0/806418a0-0140-11de-8f6e-000077b07658.html

Citi is trying to force the US taxpayers to convert the taxpayers ownership of preferred shares (purchased under TARP-1 in Oct/Nov) into common shares.

The motivation is obvious:

1. Citi does not want to pay back the preferred shareholders (THAT's YOU!!) the principal, nor the interest.

2. Citi wants to convert the preferred into essentially worthless common stock

3. Citi is going to ask for another capital injection in the form of selling preferred stock to the public (US taxpayers), but not until the previous batch of has been made worthless.

JUST SAY NO !! Under TARP-1, Paulson overpaid tremendously for the preferred stock, thereby shifting the losses to the taxpayers.