The Garlic: Government Bailout of Wall Street

Showing posts with label Government Bailout of Wall Street. Show all posts

Wednesday, March 31, 2010

How's Goldman Sachs Going To Exploit This?

Certain individuals, particularly centered on those with a gambling problem, have been known to "bet the house", from time-to-time.

Now, thanks to some new "innovative financing", they can also "bet the stadium" (perhaps, along with the house).

Colleges offering ‘sports mortgages’

Now, combine that frustration with cash-strapped college athletics departments, struggling to upgrade aging stadiums, and you’ve got the latest innovation in marketing for big-time athletics — the sports mortgage.

At Kansas, Jayhawk fans who sign up to pay up to $105,000 over 10 years will earn the right to buy guaranteed top seats for football over the next three decades. In return, the seats themselves will stay locked in at 2010 prices.

[snip]

The new pricing plans are known as “equity seat rights,’’ and are being pitched as a win-win for fans and teams. Diehard fans can be certain of what they’ll pay to see their favorite team well into the future — and can always sell tickets in the secondary market while taking a tax write-off for donating to a school. Teams can bank on extra revenue and avoid borrowing.

Stadium Capital Financing Group, the Chicago company behind the change, says it has the potential to transform how both college and pro teams court their most loyal fans. They’re confident sports mortgages will overtake the personal seat license, which doesn’t necessarily lock in ticket prices.

Okay, we're coloring outside the lines here, putting the ol' thinkin' caps on.

But what happens if the mortgage company, perhaps due to other investments, tanks?

How's Goldman Sachs going to exploit this?

Does, say, Goldman Sachs raise there hand, purchase the company, chop up the companies debt, and start selling "Stadium Derivatives", essentially just repackaging their programs that helped tank the world's economy?

Sports Mortgages?

Sounds like "three-yards-and-a-cloud-of-a-financial-mess" getting ready to come out of the locker room.

Bonus Goldman Sucks Riffs

Matt Taibbi: The Great American Bubble Machine

Paul Krugman: The Joy of Sachs

John Cook: Congrats Goldman Sachs! You're the New Symbol of Banker Greed

Survey Shows Name Should Be "Goldman Sucks"

Yet More Reasons The Survey Says Goldman Sucks!

Today's Ignorant Dolt - Brian Griffiths, of Goldman Sachs

Sunday, March 21, 2010

The Next PartyofNoican War

Good Frank Rich today, as he lays out the next front for Mitch McConnell and John Boehner to lie, distort, and, otherwise, continue their gameplan of obstructionism.

Obama, Lehman and ‘The Dragon Tattoo’

Anger over the last crash and the bailout of its high rollers spans the political spectrum, from neo-New Dealers on the left to Tea Party protesters on the right. As the battle over financial regulatory reform began in earnest with Chris Dodd’s introduction of a Senate bill last week, Lewis told an interviewer, “There is a war that is about to happen over not just who regulates Wall Street but what the rules are.”

The question for the politicians at the center of this battleground is simple enough: Which side of the war are they on? The Republican leadership revealed its hand unequivocally last week. Addressing the American Bankers Association, the party’s House leader, John Boehner, promised to delay and fight any finance-reform bill. “Don’t let those little punk staffers take advantage of you, and stand up for yourselves,” Boehner instructed the poor, defenseless bankers. In late January he met the chief executive of JPMorgan Chase, Jamie Dimon, to make a pitch for donations. That may have been unnecessary. Chase and its employees, an A.T.M. for the Democrats in 2008, gave 73 percent of their contributions to the G.O.P. in the fourth quarter of 2009.

Republicans in the Senate will be no different. Mitch McConnell’s strategy of unmitigated obstructionism remains gospel there. Just as Charles Grassley and Olympia Snowe played the Democrats with months of fruitless negotiations on health care reform, so Richard Shelby and Bob Corker have been stalling a financial reform bill with similarly arid feints at “bipartisanship.” Corker insisted that any bill exclude regulation of extortionate “payday lenders,” who just happen to be among his biggest campaign contributors.

No doubt they will still be whining about healthcare, as they rev up the Right Wing Freak Show to go out and defend, honor and shower with platitudes, the slimeball Wall Street dwarfs, finks, phonies and frauds, who pulled the greatest heist in our history, thanks, in large part, to all that PartyofNoican deregulation.

Well, it will pump up the economy, to the extent Cable News covers it, and how many empty talking heads they rope in, and the shields we'll have to purchase, from all the flying bullshit that comes with it.

Monday, September 22, 2008

A Night At The Wall Street Meltdown

Sorry for the low posting the past two days.

I've been a bit jammed up on the homefront, and, likely, will be for another day (right now, I am aiming to get back to posting, regular-like, tomorrow (Tues) evening, or Wed AM, at the latest).

But it's hard sitting on the sidelines, so, a few, brief observations.

Hank Paulson ... Al Haig ... Al Haig ... Hank Paulson

Not since those heady days of Reagan's Morning After, have we had such a low-rent, second-banana, administration hack look to take over control of the government.

Henry "Hank" Paulson is showing Alexander Haig what a piker he was.

Haig was just looking to grab a little spotlight, feel the power for a few minutes, maybe sit in the big chair for a spell.

But Paulson ... It's simply breathtaking ...

Like this;

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

Paulson wants to dole out $700-Billion to his, and the Bush Grindhouse's, Wall Street cronies, carte blanche!

I mean, considering his background (He came from Goldman Sachs - I don't believe you need to fire up Google Maps to know where they are), it was already the fox guarding the hen house, and now, with this Ponzi-inspiring scam, The Commander Guy is greenlighting handing out the contract for guarding all the hen houses, to said same fox.

Simply breathtaking, in its' raw, naked sleaziness.

Fortunately, there's nearly universal, fist-pounding, raised-eyebrows, no-fucking-way steam building up, notably from Senator Chris Dodd, with an alternative that dwarfs Hank's plans, in details.

The heavy-duty arguments, and horse-trading begins in Congress tomorrow (undoubtedly, under the attack of fear bombs being lobbed by the Bush Grindhouse).

But for now, Hank's Heist looks pretty similar to something else;

A Night At The Opera: Contract Scene

Bonus Hank's Heist Riffs

Nicole Belle - Definition Of Economic Insanity: Handing Paulson A Blank Check For Bailouts

Cernig: Bailout Or Rearranging Deckchairs? (Updated)

Ian Welsh: Hank Paulson’s Raid on the Treasury

Larisa Alexandrovna: Welcome to the final stages of the coup...

Robert Reich: What Wall Street Should Do To Get Its Blank Check

Bill Moyers & Kevin Phillips on Bad Money

Top Ten Cloves: Names Considered To Rename Wall Street