Archive for the ‘Uncategorized’ Category

And a traitor. His vision for America will turn us into a third world nation. He wants nothing less than the wealthy to become an entrenched oligarchy, accountable to no one and in control of every resource.

Patriotic Millionaires tell Norquist to move to Somalia

The most telling paragraph in the piece is the Norquist quote where he actually says “Somalia suffers from too much government.”  What the fuck?  Not only is he an idiot when it comes to American economic policy, he knows nothing about the world outside his own head.

And that’s what’s wrong with modern conservatism.  Ignorant, uninformed, and in control of too much power.

Advertisements

allahakhbar

It’s a recession when your neighbor loses his job.

It’s a depression when you lose yours.

So, when is it a recovery?  When a hedge fund manager loses his job.  Read on:

BOSTON — A pair of unrelated Boston-based hedge funds managing a total of more than $1.3 billion separately told investors Tuesday they’re shutting down and returning investor cash because of recent disappointing performance.
Letters from Raptor Capital Management and Noble Partners LP that were obtained by The Associated Press say both firms plan to revamp their investment strategies and eventually offer new funds.
Noble Partners’ George Noble told investors in his $550 billion Gyrfalcon QP and Offshore Funds that “my performance over the past several months of 2009 has been the most professionally disappointing and personally frustrating” of his nearly 30-year career.
“Whatever the reasons for our poor performance, the numbers speak for themselves and are simply unacceptable,” Noble said in a letter to investors about the funds’ 30 percent loss this year.
The closures were also confirmed to the AP by two people familiar with the situations. The persons spoke on condition of anonymity because they were not authorized to speak publicly on the matters. The Wall Street Journal first reported the closures online Tuesday afternoon.
James Pallotta, who heads the $800 billion Raptor Funds, told investors in a letter that his firm has returned an average of nearly 13.9 percent per year since the funds’ inception in October 1993 through the end of last month. That compares with a 6.5 percent return over that period for the Standard & Poor’s 500 index.
But the funds’ performance this year has been “roughly flat,” he said.
Pallotta became a minority owner of the Boston Celtics professional basketball team, and split several months ago with longtime hedge fund partner Paul Tudor Jones of Tudor Investment Corp.

BOSTON — A pair of unrelated Boston-based hedge funds managing a total of more than $1.3 billion separately told investors Tuesday they’re shutting down and returning investor cash because of recent disappointing performance.

Letters from Raptor Capital Management and Noble Partners LP that were obtained by The Associated Press say both firms plan to revamp their investment strategies and eventually offer new funds.

Noble Partners’ George Noble told investors in his $550 billion Gyrfalcon QP and Offshore Funds that “my performance over the past several months of 2009 has been the most professionally disappointing and personally frustrating” of his nearly 30-year career.

“Whatever the reasons for our poor performance, the numbers speak for themselves and are simply unacceptable,” Noble said in a letter to investors about the funds’ 30 percent loss this year.

The closures were also confirmed to the AP by two people familiar with the situations. The persons spoke on condition of anonymity because they were not authorized to speak publicly on the matters. The Wall Street Journal first reported the closures online Tuesday afternoon.

James Pallotta, who heads the $800 billion Raptor Funds, told investors in a letter that his firm has returned an average of nearly 13.9 percent per year since the funds’ inception in October 1993 through the end of last month. That compares with a 6.5 percent return over that period for the Standard & Poor’s 500 index.

But the funds’ performance this year has been “roughly flat,” he said.

Pallotta became a minority owner of the Boston Celtics professional basketball team, and split several months ago with longtime hedge fund partner Paul Tudor Jones of Tudor Investment Corp.

For those who aren’t aware, hedge funds are stock market investment firms that make their money by betting on the failure of other stocks.  Because of the way they make money, there’s a strong incentive for them to shape events behind the scenes by manipulating the news about stocks that they’re investing in.  They are also part of the reason the nation is, at the moment, economically up shit creek without a paddle.  The fewer of them we have, the better off we’ll be.

There is a point in the life cycle of every talk show when the daily content begins to resemble self-parody.  I’m afraid Rush Limbaugh has reached that point.  Take, for example, this clip from yesterday’s show:

LIMBAUGH: These guys that we’re talking about, they’d cut off their own wives’ heads if they detect them doing something not within the bounds of the law. And we’ve got memos out there today saying how rude and horrible we are because we slapped people.

I just slapped myself. I’m torturing myself right now. That’s torture, according to these people.

Seriously, if the Fat Bastard really wants someone to torture him on the air, I’m sure he can find plenty of takers.  Then the stupid, arrogant, fat fuck can at least make an informed assessment of whether waterboarding and being “slapped around” is torture.

I’ll even provide the bucket and towel.

What a difference six months makes.

During the run-up to the election, then-Senator Obama argued repeatedly against the Bush Administration’s illegal and unethical warrantless wiretapping program and lamented the same administration’s repeated use of the so-called “state’s secrets” privelege.  From barackobama.com:

Secrecy Dominates Government Actions: The Bush administration has ignored public disclosure rules and has invoked a legal tool known as the “state secrets” privilege more than any other previous administration to get cases thrown out of civil court.

But that was then, and this, as they say, is now.  President Obama apparently now thinks the same “state’s secrets” privelege invoked by the Bush crowd actually is kind of useful after all.  President Obama’s own Department of Justice recently issued a motion to dismiss a lawsuit filed against the NSA by the Electronic Frontier Foundation, claiming that allowing the case to continue would “cause exceptionally grave harm to national security”.

This is exactly the position that the Bush crowd took regarding wiretapping.  Unfortunately, the Obama administration takes it a step further, alleging that the government can be held immune from lawsuits relating to warrantless wiretapping.  It’s something called “sovereign immunity”; in other words, you can’t sue the king for violations of his own laws.

This is shocking and saddening to see.  I expected better from President Obama than this mindless continuation of Bush’s worst mistakes.

Another day, another outrage in the long string of abuses from AIG.  As reported in the New York Times, the failed finance company currently on the dock for paying its least competent division $165 Million in bonuses, is now suing the federal government for return of $306 Million in taxes paid.  No, seriously.  Read on:

While the American International Group comes under fire from Congress over executive bonuses, it is quietly fighting the federal government for the return of $306 million in tax payments, some related to deals that were conducted through offshore tax havens.

A.I.G. sued the government last month in a bid to force it to return the payments, which stemmed in large part from its use of aggressive tax deals, some involving entities controlled by the company’s financial products unit in the Cayman Islands, Ireland, the Dutch Antilles and other offshore havens.

A.I.G. is effectively suing its majority owner, the government, which has an 80 percent stake and has poured nearly $200 billion into the insurer in a bid to avert its collapse and avoid troubling the global financial markets. The company is in effect asking for even more money, in the form of tax refunds. The suit also suggests that A.I.G. is spending taxpayer money to pursue its case, something it is legally entitled to do. Its initial claim was denied by the Internal Revenue Service last year.

Un-fucking-believable.  These people have been the recipients of billions of our taxpayer dollars, and they have the nerve to do this?  They’re lucky to be alive, frankly, after what they did to their company, the people whose money they destroyed and lives they ruined, and the country. In case you didn’t read the entire article, here’s the punchline:

A.I.G.’s lawyers in the case, at Sutherland Asbill & Brennan, referred calls to the company. Asked about the lawsuit, Mark Herr, an A.I.G. spokesman, said Thursday that “A.I.G. is taking this action to ensure that it is not required to pay more than its fair share of taxes.”

Really?  More than their “fair share”?  Here’s a solution – how about we take back every dollar we gave them, and see how far they get after that?  Honestly, the hubris of these people is astounding.  Their arrogance and greed knows no bounds.  What’s it going to take for them to finally learn?  This latest outrage only shows they have no intention of changing their ways.

This was predictable.

The Fat Bastard has fired back at Newt Gingrich for the latter’s recent comments.  Politico.com has the story.

“I’m frankly getting tired of talking about Newt. I mean, it’s a pointless exercise,” Limbaugh said of Gingrich’s dismissal of him on “Meet the Press.” “I’m surprised by nothing when I’m dealing with people in the media who think they’re in politics. … They are fly-by-night operators, and most of them stand for nothing until they see a poll about what the American people want, and then they go out and try to say one way or another what the American people want while trying to falsely hold onto an ideology at the same time — and you can’t count on them. You can’t depend on them. They will sell you out; they will throw you overboard to save themselves, faster than anything. And they’ll use you on their way up as often as they can at the same time.”

“I mean, next week Newt could come out and profess his total admiration and love for me if it would serve his purposes,” he continued. “They’re running TV ads against me. Newt Gingrich wishes they were running TV ads against him.”

Is he serious?  That line about “people in the media who think they’re in politics… They are fly-by-night operators…” couldn’t be more self-referential, could it? And the last line is just so hubristic, cocky and arrogant it makes me want to vomit.  The Fat Bastard has really outdone himself this time.

I hope Newt shows more spine than his fellow Rushpublicans have of late.  Which means the groveling, sniveling, crawling, spineless, pathetic, cowardly apology to Mr. Oxycontin can’t be far behind.