Dakryn's Batshit Theory of the Week

[cookiecutter]

It seems to be the only course of action though because there's not enough will to give them more money.

 

[The Ozzman]

It seems to be the only course of action though because there's not enough will to give them more money.

Well, these warrants have been in the hands of the government for a while. The talk of converting the preferred warrants to common stock has been going on for months now.

You're going to see companies try to raise money privately (either through equity issuance or short term debt/commercial paper issuance) before they have to request more money from the gubment or the gubment cashes in the warrants.

 

[Dak]

Former IMF Chief Economist breaks down the economic situation

It's a long read.

 

[The Ozzman]

Former IMF Chief Economist breaks down the economic situation

It's a long read.

I plan on reading that later, but could you sum up the article in about two sentences to a paragraph?

 

[V.V.V.V.V.]

No, because he'll spin the fuck out of it.

 

[The Ozzman]

I lol'd

Sorry Dak

 

[Dak]

No, because he'll spin the fuck out of it.

Almost everything in news is spin to a degree, it just gets spun different ways. You don't like the angles I take.

In a sentence: The dude says we are mimicking a banana republic with our policies and the only way to fix it is to axe the "oligarch"-"politico" connections. That is a former IMF Economist, not exactly a crackjob doomsayer.

 

[V.V.V.V.V.]

You're a retard. He was just asking to summarize the fucking thing.

 

[Dak]

That was a summarization.

 

[V.V.V.V.V.]

I know, but your rant about my clearly joking statement was dumb.

 

[Dak]

It looked like all your non-joking statements.

 

[V.V.V.V.V.]

lighten up brother

 

[Dak]

Believe it or not, IRL some consider me one of those overly exuberant people

 

[zabu of nΩd]

Hmm, I wonder how this investigation of Freddie Mac's going to turn out...

Freddie Mac acting CFO found dead in apparent suicide
Treasury and other officials express condolences to Kellermann's family and colleagues
By Sam Mamudi & Ronald D. Orol, MarketWatch
Last update: 12:13 p.m. EDT April 22, 2009NEW YORK

(MarketWatch) -- The acting chief financial officer of Freddie Mac was found dead at his home Wednesday morning in an apparent suicide.

David Kellermann, acting chief financial officer at Freddie, was found dead at his home in Fairfax County, Va.

Kellermann was named acting CFO in late September, three weeks after the government took control of Freddie. He was previously senior vice president and corporate controller at the firm.

His death comes as staff from the Securities and Exchange Commission and Justice Department have been probing the finance company about issues including possible accounting violations.

Freddie Mac disclosed the investigation in a March 11 filing, and the firm said it is "cooperating fully in these matters."

According to the SEC filing, Freddie said it received a federal grand jury subpoena from the U.S. Attorney's Office for the Southern District of New York on Sept. 26. The subpoena sought documents related to accounting, disclosure and corporate governance matters, according to the filing.

But that subpoena was later withdrawn and the investigation was taken over by the U.S. Attorney's Office for the Eastern District of Virginia.

According to the filing, on Oct. 21, Freddie said the SEC began its own investigation, asking Freddie for documents. Specifically, on Jan. 23, Jan. 30 and Feb. 25, the SEC issues subpoenas for documents. The agency also began its own interviews of company employees, Freddie said in the filing.

Freddie said it was cooperating with the investigation.

In addition to the investigation, Freddie Mac also received a request from the House Committee on Oversight and Investigations on Oct. 20. The committee was seeking documents for a hearing it held on Dec. 9.

Freddie Mac has received more than $30 billion in government support as the mortgage and credit crisis intensified.

The suicide surprised some key regulators in Washington, who expressed their condolences.

"On behalf of the Treasury family, we are deeply saddened by the news this morning of David Kellermann's death," said Treasury Secretary Timothy Geithner in a statement. "Our deepest sympathies are with his family and his colleagues at Freddie Mac during this difficult time."

In addition to Geithner, the Federal Housing Finance Agency, issued a statement expressing their sadness to hear about Kellermann's passing.

"For many years, we have known David as a person of the utmost ethical standards who was hardworking and knowledgeable in his field. As the Acting Chief Financial Officer of Freddie Mac during particularly challenging times, David was an inspiration to his staff and many others who were privileged to work with him. We extend our condolences to his family, friends and colleagues."

Other suicides

Kellermann was just the latest suicide claimed by the financial crisis. French financier Rene-Thierry Magon de la Villehuchet killed himself in December after losing roughly $1 billion of his own and his client's money to a ponzi scheme perpetrated by Bernard Madoff.

Also, 74-year-old German Billionaire Adolf Mercle in January committed suicide after his business conglomerate, with investments in phar maceuticals, cement and other areas, experienced problems due the global financial crisis.

In 2002, former Enron Corp. vice chairman J. Clifford Baxter was found dead in his car in Houston, in an apparent suicide, after the company collapsed in a massive bankruptcy involving corruption.

 

[Dak]

Another Astronaut claims Aliens are real, pressure to be put on White House

Maybe he has been watching too much TV.

 

[Dak]

From last fall but still interesting.

 

[panzerfaust666]

http://www.cbc.ca/world/story/2009/04/25/flu-mexico-090425.html

man this shit really is bad eh? I hope this shit doesnt actually break out.

 

[Dak]

I was reading that there have been more deaths in Mexico City from it than is being stated in the US.

 

[cookiecutter]

I hope they can contain this before it gets too bad.

 

[panzerfaust666]

Yeah. they have been predicting a Pandemic for years already hopefully this wont be the one. Then again H51 and Sars could have been as well, but luckily they weren't.