I reported this yesterday or perhaps the day before but when the Hartford Courant says the same thing, why not dust it off and run it again? Dodd was a major benefactor of Ponzi man Allen Stanford. Asked for comment, our Senator said he was too busy stonewalling requests for documents on his sweetheart Countrywide Mortgage deal to attend to pissant gifts from low lifes like Stanford. “I’ve got my reputation to protect, you know,” Dodd claimed. In fact, I’d sayhis reputation is pretty firmly established.
Daily Archives: February 19, 2009
Say what you will about the fellas who brought down the world’s banking system, they’re single-minded, tough and greedy, so why should we expect them to fold their tents and disappear just because things are a little rocky? These are some very well connected dudes – just ask Chris Dodd, – and they may be on their way to grabbing yet another get-rich bailout courtesy, of course, of the schnooks. Take a look at this latest proposal for guaranteeing bad credit card debts. It’s another trillion dollars printed up and passed out via another program, TALF: Term Asset-Backed Securities Loan Facility (that’s cute). That’s right – dead beats do well, taxpayers get reamed, and hedge funds?
Simon Johnson, an economics professor at the Massachusetts Institute of Technology and a former chief economist at the International Monetary Fund, said many people might take a dim view of the TALF program because it provided government subsidies to investors like hedge funds. Investors who borrow from the Fed could enjoy annual returns of 20 percent or more.
“The TALF,” he said, “raises a lot of questions.”
Twenty percent returns? Before the kids start leveraging? We’re talking trillions and trillions here, and it’s all theirs to keep and to spend. No questions here – start polishing those marble floors and call your realtor; the boys are back in town. Sooeee.
Russian billionaire, having lost those billions, wants out of his agreement to buy house on the Riviera. He put up 39 million pounds on a 50 million pound house (you bankers know what that is in real money) and the seller would prefer to keep it, merci beaucoup. Call in the lawyers.
The New York Times stares intently at the belly button lint it has harvested and ponders the question, “What’s wrong with California?” Considering that politicians going back all the way to when Ronald Reagan was Governor have warned about its excessive spending, its high taxes and regulations driving hard working people from the state, its crazy left and its greedy politicians, you might think that the question called for a pages long discussion. Fortunately for the average Times reader, the answer is as simple as it is short: Right wing talk radio. Next question: why don’t Arabs love us?
Some great blowback from the one-two punch of appearing in the NY Post Sunday and ABC NY news on Monday. It’s driven certain members of the Greenwich real estate fraternity absolutely crazy. “How can we stop him?” was, according to a friend of mine at another firm, the most common question making the rounds on Tuesday. So far my wonderful boss at Raveis, Becky Hanley, has stood up to the bullying and the demands that she curb my enthusiasm for printing the truth. Can she hold out? Will this blog be coming from a private home in the weeks ahead? It’s all kind of exciting.
If I am forced to go solo, and I don’t think I will be, it would be fun to be unleashed. The complainers have no idea how restrained I am in what I choose to report though, if they searched their shallow souls, they might be concerned. Have you ever wondered, for instance, why the “Three Sisters” – Greenwich, New Canaan and Darien maintain listing services separate from the Connecticut MLS and whether that helps Greenwich sellers? I have.