THE SOUNDS OF SILENCE: MUZAK DIES

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YouTube – Beverly Sills singing Hymn to the Sun!!

As we listen to the wonderful dearly departed Beverly Sills sing from Rimsky-Korsakov’s lovely ‘Le Coq D’Or, we can discuss today’s bankruptcy of Muzak, that irritant that seems to never go away. It is dead!  HAHAHA.  What killed it and a number of other things?  The iPod.  And the desire to see this noxious cultural depravity go away for good.  Sirius Radio is dying too, due also to the Ipod.  The Ipod made Apple very rich.  And millions love it, portable, slender, total control over contents.  As an opera lover, this is important to me, of course!  Control.  Oh–GOLD SHOT UP BY $21 TODAY.

Muzak files for Chapter 11 bankruptcy | Markets | Markets News | Reuters

Music and entertainment company Muzak Holdings LLC, which is known for providing background music in stores and hotels, said on Tuesday that it has filed for Chapter 11 bankruptcy protection to restructure its debt.

In documents filed with a U.S. bankruptcy court, the Fort Mill, South Carolina-based company listed assets in the range of $0 to $50,000 and liabilities in the range of $100 million to $500 million…

Muzak, which is majority owned by private equity fund ABRY Partners LLC, said it has sufficient means to support the business during the chapter 11 process.

First, lets go look that the burned out wreck of so many deals that didn’t go through before this denouement.  DMX was supposed to merge with Muzak.  I found this out via Wikipedia.

 

DMX (music) – Wikipedia, the free encyclopedia

DMX has applied to merge with Fort MillSouth Carolina competitor Muzak Holdings LLC, with the resultant combined entity sold to a third-party buyer. TheUnited States Department of Justice has issued a second request for information on the merger.

DMX tried for a year to make a merger possible.  It finally died after the buyout takeover market dried up in July, 2007.  So, after nearly a year of trying to get more debt so they could merge, DMX gave up.  It was delisted when its stocks were less than a dollar and then, it died.

 

  1. DMX Quote – DMX Stock Quote – I-Trax Inc. (Delisted 5/1/08) Stock 

    DMX Quote – DMX Stock Quote – I-Trax Inc. (Delisted 5/1/08) Stock Quote – DMX StockPrice. back to top. Search News, Quotes, Companies. Search News, Quotes 
    interactive.wsj.com/quotes/main.html?mod=2_0450&symbol=dmx&news- symbol=DMX – 147k – Cached – Similar pages – 

Then, I found the other story here, from 1996.  Seems this group went bankrupt back then, too!  

 

TCI to increase stake in DMX | Business Wire | Find Articles at BNET

(BUSINESS WIRE)–May 15, 1996–DMX Inc. (“DMX”) (NASDAQ:TUNE) has Wednesday announced a series of transactions with Tele-Communications Inc. (TCI, symbol “TCOMA”) which will increase the stake in DMX held by TCI and its affiliates from approximately 14 percent to approximately 45 percent.

Upon completion of all of the transactions, DMX will have approximately 59.6 million shares outstanding.

DMX will complete the previously announced merger with TCI-Euromusic Inc., a subsidiary of TCI. Through the merger DMX will acquire the 49 percent interest in DMX-Europe NV (DMX-E) held by Telecommunications International Inc. (symbol “TINTA”), in exchange for 10.8 million shares of common stock of DMX. TCI holds approximately 82 percent of the outstanding stock of TINTA, which is a public reporting company.

Now, to the hedge fund that owns these fun things:

picture-57

ABRY Partners

ABRY maximizes the value of its investments by concentrating on certain industry sectors where we have substantial operating and investment experience. Because ABRY brings deep industry insight to the investment process, we are able to quickly understand key issues, accurately assess opportunity, value and risk, and bring relevant information to bear. Simply put, we partner with skilled executives and invest significant capital to help build stronger companies that become industry leaders.

ABRY Partners – AlacraWiki

ABRY Partners is a media-focused private equity firm with more than $1.7 billion in capital under management. ABRY typically invests $20 million to $100 million of equity or $10 million to $50 million of mezzanine capital in a company.

Current portfolio companies include Atlantic Broadband, Citadel Communications, Commonwealth Business Media, Consolidated Theaters, Hanley Wood, Navtech and Penton Media among others.

ABOUT ABRY Partners LLC
Our involvement in the operations of diverse media companies enables us to make valuable contributions as board members. In addition, our extensive, long-standing relationships with many different stakeholders in the media and finance businesses often allow ABRY to contribute significant value to our operating partners. Equally important, ABRY’s long track record makes us a known quantity in the media industry. Our philosophy is to consistently deliver all that we promise or more, never less. We have never failed to close on a committed facility, and ABRY is committed to being fair and reliable partners.
COMPANY VITALS
Number of Employees: 20 – 49
Yearly Revenues: 10MM – 20MM
Available Jobs (As Listed on Company Website): N/A

Not a large group.  And not huge revenues.  This means, small failures has big results.

 

Andrew Banks Email ABRY Partners LLC CEO CFO VP @abry.com

July 12, 2007 — (WEB HOST INDUSTRY REVIEW) — Colocation and data center operator CyrusOne (cyrusone.com) announced on Wednesday it has been acquired by media and communications private equity firm ABRY Partners (abry.com).  Since 2001, CyrusOne has built a strong presence in the high availability colocation and managed data center services marketplace. As a leader in high availability, high density data center services, providing managed hosting, colocation and managed IT services, CyrusOne has helped businesses optimize returns on technology investment while ensuring application availability, data security and superior IT performance.

The completion of this acquisition enables CyrusOne to accelerate its expansion, while its existing management team will continue its leadership of the company. Signal Hill Capital Group initiated and advised CyrusOne in this transaction.

They bought this turkey just 5 days before the Japanese carry trade markets closed for good.  And all the deals cooking were burned.  Back to the Muzak, we see that it was piled up with debts. Supposedly, like all the other enterprises, was planning on paying off these buy out burdens by somehow making lots of money.  These deals, alas, deprive businesses of profits and encourage overspending where it may not have much future profitability.  Such as funding the president’s new car, mistresses or yachts.

 

Many businesses are drowning in debt. If an old dame like Muzak goes under, what about the upstarts, the rock and roller businesses?  Well, guess what!

 

Citadel Threatened by NYSE to be De-listed | Radio Facts Blog

Looks like several radio corps have been warned this year and now Citadel Broadcasting has been threatened with a de-listing. The company announced it received a notice that its stock “has fallen below the continued listing criteria related to minimum share price for the NYSE.” In addition, Citadel states “subject to compliance with the NYSE’s other continued listing standards, the Company’s common stock will continue to be listed on the NYSE. The Company intends to cure the deficiency and to return to compliance with the NYSE continued listing requirements.”

 

-Sirius preparing possible bankrupty filing-NY Times | Markets | US Markets | Reuters

Sirius XM Radio Inc (SIRI.O: Quote,ProfileResearch) has been working with its advisers to prepare for a possible bankruptcy filing, the New York Times reported on its website on Tuesday, citing people close to the company.

 The move could put pressure on satellite television company EchoStar Corp (SATS.O: QuoteProfileResearch), which reportedly holds a substantial amount of Sirius XM debt. The Wall Street Journal reported Monday that EchoStar chief Charles Ergen made an offer to take control of the satellite radio company late last year, but he was rebuffed.

 

SIRI Stock Charts – Sirius Xm Radio Inc Stock Market Charts – Free Stock Charts

picture-75

11¢ a share!  No wonder they are being delisted.  0¢ is bankruptcy, of course.  Sirius is in serious trouble due mostly to the iPod.  The allure of shock jocks couldn’t compete with the total control iPod. My own children are proof of this.  Whatever they want, they download from the internet and then, their cars have iPod plug-ins so we can all enjoy the music from large speakers.  All over the place, I see people wearing iPod earpieces.  Technology always overwhelms older business plans.

 

 

Now to the BIG FISH. Citigroup is going down, hard.  

C: CITIGROUP INC Chart

picture-810

Bloomberg.com: Worldwide

Citigroup’s Pandit Vows ‘Profitable Investment’ for Taxpayers 

Citigroup Inc. Chief Executive Officer Vikram Pandit, summoned by Congress to explain his bank’s use of $45 billion of bailout funds, vowed to “make this a profitable investment for the American people.”

Pandit, 52, made the remarks in a draft of testimony he plans to deliver tomorrow at a hearing before the U.S. House of Representatives Committee on Financial Services. He’s among the CEOs of eight banks, including JPMorgan Chase & Co. and Bank of America Corp., scheduled to testify at the Washington hearing on the $700 billion Troubled Asset Relief Program.

“You will look back on it and know it was the right decision for our nation’s economy and for American taxpayers,” Pandit said in the draft, which was obtained by Bloomberg News. “My goal is to make this a profitable investment for the American people as soon as possible.”

Where is Rubin? Busy trying to save the economy by giving all our money to the bankrupt bankers, no doubt.  This is one man I want to see off of Obama’s team and into a prison.  Pandit is the fall guy after his two predecessors ran off to greener pastures.  I seriously doubt that he can do what Muzak couldn’t do.  Stocks in Citigroup are now at barely above three bucks.  This is penny stock.  When were we forced to buy into Citigroup?

 

Around when it was about $24 a share?  And pray tell, how will we get this back?  By capitalizing this gnome mess to the tune of over $30 billion?  And what?  In 20 years we will get it all back with no interest?  And if it goes under, we lose everything, right?  Citigroup is being eaten alive, not just by deadbeat homeowners, look at just today’s news abot bankruptcies:

 

GGP Faces Thursday Deadline For $900M Loan
Real Estate Finance and Investment, NY – 6 hours ago
General Growth Properties faces a deadline on Thursday to repay a $900 million loan backed by two Las Vegas shopping malls. The lenders include CitigroupGGP

It Holding SpA Files for Bankruptcy, Saks Reels from Fall 
Wall Street Journal Blogs, NY – Feb 9, 2009
Citigroup Inc. spokeswoman declined to comment Friday. AP Baugur, the Icelandic retail investor, faces another week of uncertainty as potential buyers SKS

Citigroup Sells Mortgage Rights to Wilbur Ross Unit
Bloomberg – Feb 5, 2009In an interview, Ross said the Citigroup loans that American Home will service have a facevalue of $37 billion and include subprime and Alt-A mortgages. C – OTC:AHMIQ

A New Administration, Tired Old Policies
Center for Research on Globalization, Canada – Feb 7, 2009
In his January 26 commentary, financial expert and investor safety advocate Martin Weiss warns that Bank of America and Citigroup “are on life support,” and 
The rise and (almost) fall of America’s banks Martinsburg Journal
all 222 news articles »

reportonbusiness.com: GM, Chrysler may face bankruptcy over U.S. debt

General Motors Corp. and Chrysler LLC may have to be forced into bankruptcy by the U.S. government to assure repayment of $17.4-billion (U.S.) in federal bailout loans, a course of action the auto makers claim would destroy them.U.S. taxpayers currently take a backseat to prior creditors, including Citigroup Inc., JPMorgan Chase & Co. and Goldman Sachs Group Inc., according to loan agreements posted on the U.S. Treasury’s website. The government has hired a law firm to help establish its place at the front of the line for repayment, two people involved in the work said last week.

The government bail out of GM and Chrysler is bailing out Citigroup, Goldman Sachs, JP Morgan and Cerebus, all of whom should be crushed, not saved, particularly the eldest of this group of gangsters: JP Morgan, the founder of the Federal Reserve.  They need to be bailed out.  The bankruptcies we are seeing in the corporate and business world are just beginning.  Remember how this progressed: while stocks were soaring and while bankers were making bigger and bigger ‘deals’ house buyers began to go bankrupt.  Then, the Japanese carry trade suddenly lurched to a halt and all the biggest deals in history were left stalled out in the laps of the banking gnomes!

 

Since then, they have been desperate to unload these turkeys only all the bad tranches built on homeowners with ARM loans, suddenly began to crash.  The swift end of Japanese credit brought all global commerce to a head.  A violent surge of inflation shot through the system due to all the hedge funds and banker suddenly switching over to commodity markets to make money.  This, in turn, caused the consumers to lose their money on necessities so the buying of other goods collapsed and now, businesses are collapsing and all the deals, every blasted one of them, will cascade into the same pit because no one can buy anything, anymore.  This is why our government wants to hand out money.  But due to the Democrats being too weak, to scatterbrained and no one in any party being rational about the nature of this collapse [the ending of the Japanese carry trade coinciding with the US building up too much debt] is not understood.

 

So one rescue after another will be attempted.  None will work unless we first shut down all of these bankrupt banks and arrest the guys who did this [Rubin, this is you I am talking about here] and we start all over again, with new rules and regulations that work.

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70 Comments

Filed under .money matters

70 responses to “THE SOUNDS OF SILENCE: MUZAK DIES

  1. nah

    never used satelite radio… mostly cause there tons and tons of good music i can buy ‘aol radio is awsome too used to pay for rhapsody but there no service, just listen to what we got crap’… so music rocks wish all the performers of the arts the opportunities they desire… anyways if everyone was like me would be a different world… dont know hows got the biggest DOOM outlook could well be us… have a hard time seeing how inflation wont shipwreck the economy ‘especially governement mandated inflation’ there are no great unions to call for higher wages only small business who have no say so or political backing ‘i.e. we spend everything unill the belly goes up’… if the system is so corrupt it cant finance imaginary numbers anymore satelite radio should cover it… could be a story in there somewhere
    .
    http://video.google.com/videoplay?docid=-53565441845289277&q=nuclear+fision&total=185&start=10&num=10&so=0&type=search&plindex=0
    .
    we dreamed it, you pay for it child

  2. GK

    Yes, gold when up to 921, but oil down to 37. This is an epic 24:1 ratio, WAY above the 10 historical average. I would not be surprised if it went up to 30:1 before crashing down to 10:1.
    .
    http://www.incrediblecharts.com/economy/gold_oil_ratio.php
    .
    Dow of 7888.88 is very auspicious for the Chinese. I am going to start tracking the Hang Seng (13434) to Dow ratio (7888.88) now at 1.7 to watch transfer of wealth from USA to China.
    .
    en.wikipedia.org/wiki/Numbers_in_Chinese_culture#Eight
    .
    The iPod is a form of magic. Steve Jobs is an orphan Jew.
    .
    en.wikipedia.org/wiki/Steve_jobs
    .
    “Steve Jobs was born in San Francisco to American Joanne Carole Schieble and Syrian Abdulfattah John Jandali, a graduate student who later became a political science professor. One week after birth, Jobs was put up for adoption by his unmarried mother, who was also in graduate school. He was adopted by Paul and Clara (née Hagopian) Jobs of Mountain View, Santa Clara County, California. They gave him the name Steven Paul Jobs. His biological parents later married and gave birth to Jobs’ sister, the novelist Mona Simpson, whom Jobs did not meet until they were adults.”
    .
    To balance things out, here is a site that proposes that the market crash is a Catholic conspiracy.
    .
    gawker.com/5050016/how-legatus-brought-down-wall-street#viewcomments
    .

    “On a Google Finance message board last July, one lone nut predicted a market crash. “The negative news that will move the market downward should occur September 15,” he wrote. That would be today. This oracle may be raving, but he did predict the future correctly. “This organization below,” he went on, “runs the show…”
    .
    The Group’s Name: Legatus
    Its Mission: ” To study, live and spread the Faith in our business, professional and personal lives.”
    What is it?: Legatus—Latin for “ambassador” (and the term for a general in the Roman army)—is a worldwide networking group “designed exclusively for top-ranking Catholic business leaders.” Its main stated duty is to bring such leaders together for closed monthly networking meetings. The group calls itself “the conduit connecting two powerful realities, the challenge of top-tier business leadership and a religious tradition second to none.”
    History: The group was founded in 1987 by Tom Monaghan, the devout Catholic who founded Domino’s Pizza. It now boasts “thousands” of members throughout America and in Europe.
    .
    It’s somewhat reminiscent of Opus Dei, the shadowy Catholic group that starred in The Da Vinci Code. The Google Nostradamus went by the name of reinhardt (though his account has now been banned). He ID’d himself as the author of this conspiracy site as well. Here are some salient portions of his very extensive posts on the connection between Legatus and our current financial blowup:”
    .
    One way or the other, the disinformation runs thick as power is transferred around the world.

  3. emsnews

    Don’t forget the Italian Mafia, GK. 🙂

  4. GK

    Thanks for the 😉 Elaine, I needed that!
    .
    If anyone needs some humor, this is the funniest video from the Onion that I have ever seen. I think I almost laughed out a lung!
    .
    http://www.theonion.com/content/node/93143?utm_source=embedded_video

  5. Simon

    1.7 looks like a good ratio, the numbers are also magickal
    (I think)
    A job in US cost as much as 7 times the same job in China
    While being less productive, since US has the propensity to buy toys like SUVs to distract the worker from his job.

  6. PLovering

    Noted on Denninger: prior to Geithner’s speech, a rumor hit the market that he would announce the abolition of the FED. The rumor created a nice spike in the market. Somebody made a bundle. Not a bad idea, either.
    .
    Law makers in 20 states moved to reclaim sovereignty:
    http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=88218
    .
    The sovereignty movement should be ripe for the pickens in another year or so.

  7. MrT

    The financial mess is distracting media
    from the world wide drought and crop failures.

    Forbes on Grain Prices:

    http://tinyurl.com/bbelk7

  8. criticalcontrarian

    GK said: Dow of 7888.88 is very auspicious for the Chinese. I am going to start tracking the Hang Seng (13434) to Dow ratio (7888.8 🙂 now at 1.7 to watch transfer of wealth from USA to China.

    China is in a quandry. They know they will not get fair value for the US Treasuries they hold. The path to recovery that Obama and USA Inc. have chosen only guarantees the debasement of the dollar, and at an accelerated rate through hyperinflation, with the eventual, if not immediate bond value collapse.

    That said, it is reasonable to assume that China will very soon attempt to convert these “worthless” holdings into things of tangible value, as expeditiously as possible.

    Question: How quickly and to what degree can they accomplish this without crashing the system by their action?

    The price for securing its investments? China will contribute to or trigger the US dollar/Treasuries collapse. And while the Western media will blame them for it, only a moron would believe them.

  9. Simon

    Ah Denninger,
    Another loud mouth with plenty of complaints but no solutions.
    Let houses fall to half their value. Hello, newsflash: Already there

  10. Off topic
    .
    There is no thread to put this on.
    .
    February 10, 2009

    “Catastrophic Fall in 2009 Global Food Production”

    “After reading about the droughts in two major agricultural countries, China and Argentina, I decided to research the extent other food producing nations were also experiencing droughts. This project ended up taking a lot longer than I thought. 2009 looks to be a humanitarian disaster around much of the world”

    “To understand the depth of the food Catastrophe that faces the world this year, consider the graphic below depicting countries by USD value of their agricultural output, as of 2006″…

    http://tinyurl.com/acsyje

  11. Tell – Individuals and countries need to work and prepare together. Simple. Thank-you for your post.
    :
    OK, ain’t it blatantly obvious by now. People – corporations are an utter and complete failure. Time for the death penality for these entities that are NOT alive in the first place.
    :
    Sometimes I didn’t mind the “Muzak”, and the real music will NEVER die. Just go outside and listen to the birds, the wind, or even the silence.

  12. David

    GK:
    __
    Really enjoyed the video…great!
    __
    As world oil prices drop, where I live in the Southeast, pump prices are climbing…so that means the big oil boys are expecting hyperinflation soon, and are starting as early as possible to spread the impact…
    __
    Also, remember Elaine said that when the dow drops under 8000, we are relative, to GD I, now in GD II.
    __
    Well, I sure hope the fuckers who caused this are happy now.

  13. Bear of Little Brain

    Tell:
    de Carbonnel’s article omitted any mention of Ug99 wheat rust, last reported in Iran, having moved eastwards out of Africa. The trajectory is then Pakistan, India, China and, yes, the USA. Spores are carried by the winds. Having been detected in Uganda in 1999 (hence, Ug99), it has so far been spreading quite slowly.
    This has as much potential for crop devastation as any drought. Although there is much work going on to develop resistant wheat strains, this may be outflanked by the rust mutating. Apparently, now that Ug99 has met the barberry plant in Iran, it will almost certainly mutate. There are biocides which can control it, but these have to be correctly applied. They also are likely to be too expensive for the farmers in the afflicted countries, or even of limited availability in the event of a major outbreak.
    (I probably did not need to post this, since I have mentioned it before. Apologies for being repetitive.)

  14. Math

    GD I and II ?? What that is supposed to mean ?

  15. “wheat rust”
    .
    Bear of Great Brain
    .
    Yup,came across that the other week…not looking good on the food front.Some are saying by the end of this year food cost could go up by 25% in the UK.This will be used by EVIL to try and make money you can bet on that.

  16. emsnews

    I wrote about Ug99 in the past. Generally speaking, it appears as if diseases and droughts get worse during bad depressions. For example, the potato blight took off after 5 years of depression in the 1840’s. A corn blight hit American farmers in 1974. The Dust Bowl and the Great Mississippi Flood hit the grain farms of the US from 1928-1936.
    .
    Economic chaos makes any disruption in farming much worse. Government distribution systems fail. The story of the seven fatted cows and the seven thin cows in the Bible comes to mind.

  17. criticalcontrarian

    This is getting interesting, a group of 350-400 homeowners descended on and staged protests on outside the homes of wealthy bankers in well heeled Connecticut! Read @
    http://www.dailykos.com/storyonly/2009/2/10/135952/416/918/695729

    The effort was organized by the Neighborhood Assistance Corp. of America. Things are getting quite organized, and quickly. Sends a clear message to the bankers, “we know where you live”. Someone quickly send this group the home addresses of the ORC Brigade’s, Geithner, Dimon, Lewis, et al!

  18. emsnews

    It is also very funny that the pastoral wandering tribe from the Middle East pretended they told the Pharaoh about storing grain in good times and distributing it during bad times. 🙂 Considering how this is how the priests of Egypt first gained power about 8,000 years ago.

  19. Well, some archetypes never perish cause they are forever. Not all, but some for sure. Anyhow, storing grain is by definition obvious. Why do you think we have grain in the first place? To store it. Duh.
    :
    Beer is a good way to store grain in my humble opinion.
    :
    Cheers,
    Ken

  20. And just to be cliche’ – you scratch my back – I’ll scratch yours.
    :
    PEACE
    :
    I have more studying to do. I have a whole slew of ideas regarding the Periodic Chart, but I think I best “pull a Darwin” and work some of this out in more detail. I think he took 20 years or so before his published his “idea”.

  21. As always, one last thing. Check this out if interested:
    :
    http://news.yahoo.com/s/ap/20090211/ap_on_re_us/dog_show
    :
    That stump seems to be one-hell of a fine dog. Thanks Texas A&M for keeping that dog alive….

  22. Oh, but I consider this: Sulfur (16) and Protactinium (91) seem to share some attributes based on thier pictures although that one is radioactive so this makes a difference of course. I still like Silver (47) and Gold (79) plus Platinum is so nice (78). Don’t need much of those, and of course, Copper (29) just above Silver in the TABLE is most useful.
    :
    😉

  23. Sorry for this, but couldn’t resist. My PhD nuclear-working electrical engineering friend sent me some technical article from a nuclear-trade magazine. Talked about Thorium (90). Looks like a “grate” in the picture I have. Anyhow, Thorium is a WAY BETTER source of energy that goofy-stupido Uranium. Up your ass Uranium.
    :
    And up the ass of all those who shot those shells containing spent Uranium. You have no idea what you have unleashed and this is NOT wise.

  24. On the slight possibility that you know what you have unleashed and chose to do it anyhow. Let me just say this. You will DIE permanently in the spew of your own making.
    :
    Some things are blatantly evident.

  25. and last time I ever speak to that horrid, foolish, death-loving, and death affirming, domineering-attempting one-eyed country (I hope you know who you are, then you might have an idgit of hope….). You will get what you deserve. Even Santa knows this.

  26. 8 is GREAT and the Chinese seem wise. Same for Russia.
    :
    But remember this, no country is sacrosanct. None.
    :
    I like Noni – what about you? Gonna get me some RIGHT now.

  27. JSmith

    “today’s bankruptcy of Muzak, that irritant that seems to never go away. It is dead!”
    .
    Thank the gods. Muzak could make any song sound lousy.

  28. Dang – JSmith. You didn’t write them down? Then they are worthless.
    :
    Talk to you later smitty…..

  29. Noob

    @ Math:

    That would be Great Depression I and Great Depression II. I call the current situation the “Greater Depression,” because this one is going to be much bigger and much worse.

  30. Noob as a foolish proud peasant on the hill, let me be the first to say: You are a Boon.
    :
    Math – puh. Who has time for it. I prefer shapes and efficiency is nice too. If done with a tad of humanity.
    :
    Peace,
    Ken

  31. nah

    http://www.reuters.com/article/ousiv/idUSTRE51A0PS20090211
    Jamie Dimon, head of JPMorgan Chase & Co, says in his remarks that he is endorsing a proposal to create a systemic risk regulator to help oversee U.S. markets.
    .
    “This would allow us to begin to address some of the underlying weaknesses in our system and fill the gaps in regulation that contributed to the current situation,” he says. “We stand ready to work with you on the range of issues confronting the financial services sector and our economy.”
    .
    it seems to me that someone needs to regulate the government ‘human pod SEC’ LOTS of people thought that the banks were being allowed to control prices to drive up earnings ‘including my broker’ with the downside being FUKING FINANTIAL MELTDOWN… when i heard these rumblings i took them at face value ‘hell they must know something’… all they know is how to lie cheat and steal… and get the media to play along ‘mite loose a few votes in the legislative bodies if they dont’

  32. Furthermore, “depression” is a state of mind. Easily healed.
    :
    You don’t believe me? Your choice.
    :
    Still, a Boon is a Boon and a Boom sometimes boomerangs back at ya…..

  33. Han – can you start talking a bit more clearly at least every now and then. Thanks.

  34. A furthermore to you nah, can you please give me a warning before you post that mushroom cloud again. I’m tired of even checking.

  35. emsnews

    Emotional depressions are extremely hard to escape, Ken. I know this from personal experience.

  36. Me 2. But like I said a long time ago – I LOVE you Elaine. And together, we can make it through! 🙂
    :
    Hey, say hello to that Ark Bill for me. He needs to get a haircut I think. Either that or a clue.

  37. Ha. Ha. Ho. Ho. Ho. Grand blue-green. Hm. We need BOTH. 2.

  38. I’ll tell you this. One time about 11 years ago I have this image in my head, but I knew deep down inside that it was a feffen dream. Then I decided to live on as any good human being would do.
    :
    I have a lot of love.
    :
    Peace,
    Ken

  39. Even for Bill (he was in my dream) and Hillary (she wasn’t I don’t think). But Billy Bad Ass Gates sure was. Him and a bunch of spiders. Still a dream is nothing but a dream until it becomes a VISION.
    :
    Peace again from me:
    Ken

  40. Oh yeah, last thing. As far as I’m concerned the last real President we had was Jimmy Carter from Georgia. Now where is that Kentucky Bourbon. Oh crap, I don’t have any. Oh well. Some Yuengling will do for now. Pottsville, PA. I’ve been there I think. I’ve been real close if not. Maybe I should go back one day. I think I will if time permits.

  41. nah

    SEC in 2015 blows it! Blames Regulatory body!

  42. So far the US has been NOTHING but a fungal bloom. So time will tell if this fungus knows how to survive. Simple.

  43. Other countries who have been around a LONG time are WISE. We just now are NOT. Duh. What you gonna do nah?

  44. Glorify in some cloud. I will get to you. Rest assured you short-lived FOOL.

  45. Ah, now I’m back. That is better. Best be careful about who you mess with. That is my council. A betcha the “Green” comet already knows that. Comets eventually hit the target.

  46. either that or they fade away to nothing when they get to the cliffside…happens to some, but not ALL. The Buffalo Know.

  47. and I like the rings of what I hear coming out of NH. Live Free or DIE.

  48. openly hidden

    By Tom Randall, Alex Nussbaum and Peter Robison

    Feb. 11 (Bloomberg) — Eric Langan could run a U.S. bank, based on his $494,713 salary last year, according to President Barack Obama. Langan would rather stay in his job, overseeing 18 strip clubs as chief executive officer of Rick’s Cabaret International Inc.

    “A bank? No. I’m not interested in working for a bank,” Langan said in a telephone interview from his office in Houston. Besides, he just got a raise to $600,000, putting him $100,000 over Obama’s cap for a top official of a financial institution receiving federal bailout funds.

    A half-million dollars may not buy a seasoned executive for a major U.S. financial institution, said James Reda, managing director of James F. Reda & Associates, a compensation consultant in New York. Linda McMahon, whose World Wrestling Entertainment Inc. produces the syndicated television show “WWE Friday Night Smackdown,” would make the cut, as would CEOs of a cafeteria company and discount online retailer.

    On Wall Street, “$500,000 will get you someone five years out of Harvard Business School or a sixth-year associate at a major law firm,” Reda said. “It’s not going to get you a lot.”

  49. openly hidden

    sinec i am no longer going to let myself become emotionally involved, could someone please email bloomberg writers obviously sniggering at the thought of banksters laboring for merely half million a year and call them sociopathic parasites dead man walking scum???? or something like that.

  50. JSmith

    “Dang – JSmith. You didn’t write them down?”
    .
    ??Write what down?? Those house plans? Jesus – that was back in the late ’70s. 30 years ago. Even if I still had that stuff it would have to be completely reworked with new systems: you’d want a wireless network, etc., etc. And I think it ended up with somebody else, anyway – there were three or four of us working on it at the time.
    .
    We didn’t even have the internet back then: we had pencils and paper. One step beyond hammers, chisels, and stone.

  51. JSmith

    We took a lot of inspiration from something called the “Whole Earth Catalog”, which had just about every odd tool or device you could think of, and some you couldn’t. “Look! A sheep collimator!”

    http://en.wikipedia.org/wiki/Whole_Earth_Catalog

    I believe I still have one around, in a file drawer somewhere.

    Hey -it’s even on the Net!

    http://wholeearth.com/index.php

  52. JSmith

    We took a lot of inspiration from something called the “Whole Earth Catalog”. It had every odd tool you could think of, and some you couldn’t. “Look! A sheep collimator!”

    It’s on the web now:

    http://www.wholeearth.com/index.php?gclid=CKOfuYvz1JgCFRxNagoduVZJ1w

  53. Math

    Why Celente says that the boom, will gonna be this Feb or March, anything special ? And the Banks from Europe, when them will finally fail (I am worried about this cause i and a Brazilian and work for a Europe Bank into the Back Office of IT developing logic for Derivatives)?

  54. Math – This may seem mean but it isn’t. Were you raised a “Catholic”. If so, that explains a lot.
    :
    I’d get out of the derivative business if I were you and I’d start thinking about planting trees in the huge rainforest that I think surround that river (Amazon?) in the southern continent. That is the way of the future. The derivatives are Beast that KILLS, so lets just forget about them. OK.
    :
    peace,
    Ken

  55. Man – the computer is acting crazy today. Hey Math I hope you know I meant no offense.
    :
    Anyhow, I suspect the Internet will soon go down basically. But the beauty is – it will be for a short time only if it happens at all. And afterwards, all the spiders will laugh and we will all sing praise like in Charlotte’s Web.
    :
    But just in case, please let me say. Peace from me to you and my family to your family. We can do it. I sense it and I hope you do to.
    :
    Ken

  56. be-el

    If you had a good ear, Muzak wasn’t so bad. They hired the best studio musicians, and you might hear sizzling distorted guitar solo mixed way down low. Don’t want to scare the old ladies, but they had to try to stay hip. The day after Jerry Garcia died, I was in a Food Emporium in Manhattan, and the Muzak played “Sugar Magnolia”!

  57. Math

    Well, i am either thinking in leave the Derivatives Financials, cause actually i can see the d e l t a value…if you know what i mean. And start something with ERP, like SAP. Well , go to somewhere that produces something.I was reading the MS today and saw that the chinese exports fell down 17 % and imports 48%,so do you think that there is more 6 months before the Nuclear Financial War begins ?
    And Elaine thanks for your insights you blog is a must read everyday for me.

  58. Gary

    I hate elevators. I get claustrophobia. What am I going to do without
    listening to “Feelings” playing in the background while going up to see my broker ! Oh well. The borkerage should start playing some AC/DC instead
    anyhow, like “Welcome to the Jungle” or “White Wedding Day” something more approprate like that.

  59. I’m with you Gary. Have been for a long time.
    :
    I stopped going to the broker a long time ago, but I did let the Wachovia fools hear what I had to say. I gave them my piece. Felt good. Real good.

  60. I told them this….ah forget it. You all know don’t you?

  61. The maze is actually fun especially if you leave little dropping behind to help you figure how to get OUT.
    :
    Mr Green is not to be fooled with.
    :
    :mrgreen:

  62. Logging out. Someone turn off the lights….

  63. Elaine – did I already say I LOVE you today. I hope so.
    :
    I’ll fly you away if you want me to? Just let me know.
    :
    Ken the Trignitarian who thought he had Osmium balls…

  64. But Ken knew from the get-go that he wont no ben….BAH.

  65. Rowan

    Not to forget when Jake and Elwood Blues take the elevator up to pay the orphanage taxes at the end of the first “Blues Brothers” film. Now that`s what I calls “Musak”!

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