12/6/08 Antidote du Jour Posted on December 6, 2008 by Yves Smith Post navigation ← 12/5/08 Antidote du Jour Obama’s Public Works Plan: Trickle Up Economics? → Subscribe to Post Comments 15 comments Anonymous December 6, 2008 at 12:45 am “The wolf changes his coat, but not his disposition.” Proverbs Richard Kline December 6, 2008 at 2:18 am Pack-hunting Commundard: “Bankers, foundering in the icy wastes? YESSSS! God is good.” Uncle Billy Moonbeam December 6, 2008 at 2:46 am TamarGeller.com According to Ms. Geller, she learned the proper way to train dogs by studying wolves (that learned with play, not with pedantry) ndk December 6, 2008 at 3:43 am Jim Grant is bullish on Treasuries. (psych!) Workers Give Up, as the employed percentage of all men 16 and over reaches the lowest on record. Harvard teaches us how to hedge, following their earlier lesson on private equity investing. Mankiw tracks deflation expectations using an old TIPS issue. Anonymous December 6, 2008 at 6:58 am By Dan EggenWashington Post Staff Writer Saturday, December 6, 2008; Page A01 George W. Bush is not generally prone to introspection. “I really do not feel comfortable in the role of analyzing myself,” he once said. drums: padap, ping That one sentence, speaks volumes. Skippy Anonymous December 6, 2008 at 7:10 am Now Paulson will want the other $350 billion TARP money. Congress must flatly refuse and wait for Obama. Here are two good reasons:1. Paulson hasn’t been such a hero, let’s leave some for Geithner to spend.2. If the money goes to banks now, it’s likely to end up in increased bonuses. It’s important not to commit any more money before the first of the year. S December 6, 2008 at 11:09 am Surprice surprise: Citi now assesing need to raise common equity capital…The Fed has desperately tried to rally the bank stocks so they would go out and raise capital. It is shocking that the auto makers, which deserve no sympathy, are put through the ringer and the bankers bega nd plead and pout about the very prospect that shareholders should take dilution (common that is). The whole ludicrious notion from the getgo that pref. equity was the solution to encourage the public to saddle up and buy the banks was merely cover for the pillage. It is truly shocking that the bank set has conitnued to play this card to avoid common dilution and even more shocking that people like Geithner have played along. Outrageous. Anonymous December 6, 2008 at 11:46 am Thanks for the links ndk! Anonymous December 6, 2008 at 12:12 pm Good Grief: WIKILEAKS PRESS RELEASEFri Dec 5 18:33:02 GMT 2008 “Bank Julius Baer CEO commits suicide” Alex Widmer, the Chief Executive Officer of Bank Julius Baer has diedunexpectedly at age 52. The Swiss headquarted bank is the largest “private banking” groupwith over USD 300 billion in assets hidden or invested on behalf ofextremely wealthy individuals and some institutions. According to multiple independent press reports (Reuters, 20minutes),the cause of death was suicide. The reasons are not yetpublicly known. In February, the bank attempted, unsuccessfully, to sue Wikileaksin the United States over whistleblower revelations pertaining tothe bank’s Cayman Islands operations. Dozens of revelations followed, from the exposure of Baer’sinternal tax avoidance plan to the Cayman Islands trust for theCaryle group revealed on Dec 1. According to Reuters the bank has lost some 60% of its share priceduring 2008, although this puts it ahead of many in the currentfinancial crisis. See http://wikileaks.org/wiki/Category:Bank_Julius_Baer Mercury December 6, 2008 at 1:16 pm For all you Obama skeptics out there I think this will answer your concerns- from today’s radio address: “Today, I am announcing a few key parts of my plan. First, we will launch a massive effort to make public buildings more energy-efficient. Our government now pays the highest energy bill in the world. We need to change that. We need to upgrade our federal buildings by replacing old heating systems and installing efficient light bulbs.” Dec 6 Obama’s Radio Address on the Economy Reader Dean December 6, 2008 at 1:20 pm No pun intended, but I am beginning to feel really naked looking at the antidote du jour. C’est très froid ! Anonymous December 6, 2008 at 3:20 pm Harvard Endowment falls 22% in four months: http://www.marketwarnings.com/2008/12/harvard-university-endowment-loses-22.html I made 37% in one week following this: http://www.marketwarnings.com/2008/11/dow-spx-stock-market-bottom-november-21.html Anonymous December 6, 2008 at 11:49 pm Ya know, Yves bragged. No, she didn’t brag, she gloated over how productive/superior/efficient a multi-tasker she was when working in investment(banking?). And in one broad swath she dismissed the life and death contributions of the medical profession and every other high stress occupation known to man. Yet here I sit, with no forthcoming economic analysis. I touch the screen of my PC and it is cold. She’s leaving us shivering in the wind, like some virtual tiny Tim! All I have to look at is a recycled wolf photo and stuffed panda! I guess she’s slowing down…. Yves Smith December 7, 2008 at 12:11 am Anon of 11:49 PM, There is a big difference between working on a job and a voluntary side activity. If you want t pay me my consulting rate to keep blogging while on the road, I would most certainly entertain that idea. But you are basically unhappy that you have had a free service interrupted. Too bad, I was also with the client from 8 AM to midnight. And even if I had had some free time, seeing the Van Gogh exhibition at the Albertina was higher on the list than blogging. Anonymous December 7, 2008 at 12:44 am O.K Yves, I forgive you! Anon 11:49 pm Comments are closed. Tip Jar Please Donate or Subscribe!