crws's Account Talk

[crws]

Overdue book fines be goin' up in Santa clarita, mon!

No new books til the fine collections are within established standards! Book Nazi's!

LOL
How's it goin, Jimi? Been out enjoying your summer?

 

[crws]

Since I exited after the August OPEX, with 13 days of trading in a hedged position consisting of 81% F, 10% spread in C,S,&I , and 10% spread through the L Funds, I have had 9 of 13 positive days for an overall gain of .3% after backing out my contributions.

If I extrapolated that rate of return out over the course of a year, theoretically using 250 trading days, it would produce a return of 5.77%.
Good to know.

Another 13 days of trading, up 9 days.
This round had a week of OPEX gains 9/13 - 9/17,
for a total gain of 1.48%. At this clip, 28.46%/year
Extrapolated total of combined 26 trading days, minus contributions, up 1.78%
@ 250 trading days/year = 17.12%

 

[crws]

This is too good to pass up... :laugh:

White America Has Lost Its Mind
The white brain, beset with worries, finally goes haywire in spectacular fashion

 

[crws]

Time to play...
G - 40%
C - 25%
S - 15%
I - 12%
L2 - 2%
L3 - 2%
L4 - 2%
LI - 2%
COB Today

 

[crws]

I can agree with the CTP of personal responsibility and limited gov't regarding this issue- from my non-user "lib" viewpoint.

Just Say "Yes!" Legalizing Drugs Is Good for Society ... and the Economy, Harvard Prof. Says
http://finance.yahoo.com/tech-ticker/just-say-%22yes!%22-legalizing-drugs-is-good-for-society-...-and-the-economy-harvard-prof.-says-535480.html;_ylt=Ai1AypXq3MdOvSoKJgFwesq7YWsA;_ylu=X3oDMTE1am9zcmU4BHBvcwM1BHNlYwN0ZWNoVGlja2VyBHNsawNqdXN0c2F5eWVzbGU-?tickers=sam,bud,pph,xph,mrk,jnj

A side benefit would be that Hemp would become legal, it is entirely foolish and an incredible waste that it is illegal in the US to begin with. It's an amazing and versatile plant. Monsanto would love it.
http://www.naihc.org/hemp_information/hemp_facts.html

HISTORY FACTS

*Hemp has been grown for at least the last 12,000 years for fiber (textiles and paper) and food. It has been effectively prohibited in the United States since the 1950s.

*George Washington and Thomas Jefferson both grew hemp. Ben Franklin owned a mill that made hemp paper. Jefferson drafted the Declaration of Independence on hemp paper.

*When US sources of "Manila hemp" (not true hemp) was cut off by the Japanese in WWII, the US Army and US Department of Agriculture promoted the "Hemp for Victory" campaign to grow hemp in the US.

*Because of its importance for sails (the word "canvass" is rooted in "cannabis") and rope for ships, hemp was a required crop in the American colonies.



INDUSTRY FACTS

*Henry Ford experimented with hemp to build car bodies. He wanted to build and fuel cars from farm products.

*BMW is experimenting with hemp materials in automobiles as part of an effort to make cars more recyclable.

*Much of the bird seed sold in the US has hemp seed (it's sterilized before importation), the hulls of which contain about 25% protein.

*Hemp oil once greased machines. Most paints, resins, shellacs, and varnishes used to be made out of linseed (from flax) and hemp oils.

*Rudolph Diesel designed his engine to run on hemp oil.

*Kimberly Clark (on the Fortune 500) has a mill in France which produces hemp paper preferred for bibles because it lasts a very long time and doesn't yellow.

*Construction products such as medium density fiber board, oriented strand board, and even beams, studs and posts could be made out of hemp. Because of hemp's long fibers, the products will be stronger and/or lighter than those made from wood.

*The products that can be made from hemp number over 25,000.



SCIENTIFIC FACTS

*Industrial hemp and marijuana are both classified by taxonomists as Cannabis sativa, a species with hundreds of varieties. C. sativa is a member of the mulberry family. Industrial hemp is bred to maximize fiber, seed and/or oil, while marijuana varieties seek to maximize THC (delta 9 tetrahydrocannabinol, the primary psychoactive ingredient in marijuana).

*While industrial hemp and marijuana may look somewhat alike to an untrained eye, an easily trained eye can easily distinguish the difference.

*Industrial hemp has a THC content of between 0.05 and 1%. Marijuana has a THC content of 3% to 20%. To receive a standard psychoactive dose would require a person to power-smoke 10-12 hemp cigarettes over an extremely short period of time. The large volume and high temperature of vapor, gas and smoke would be almost impossible for a person to withstand.

*If hemp does pollinate any nearby marijuana, genetically, the result will always be lower-THC marijuana, not higher-THC hemp. If hemp is grown outdoors, marijuana will not be grown close by to avoid producing lower-grade marijuana.

*Hemp fibers are longer, stronger, more absorbent and more mildew-resistant than cotton.

http://naihc.org/brochure.pdf

 

[crws]

Here we go-
If China doesn't capitulate, remember to breathe...
Bonds on the way down, stocks on the way up... Where's our Precious Metals Fund?

:cheesy:
Race to the bottom in currency markets
Commentary: Just another form of protectionism
http://www.marketwatch.com/story/race-to-the-bottom-in-currency-markets-2010-10-07

If there’s been one mantra among political and economic leaders since the financial crisis rocked the world two years ago, it’s been to avoid protectionist policies at all costs.

History tells us, if not Fed Governor Ben Bernanke, that it was the headlong rush among countries into protectionist trade policies after the stock market crash of 1929 and subsequent financial crisis that sent the world spiraling into the Great Depression in the 1930s.

With everybody hoarding their chips, economies from the U.S. to Europe and Asia effectively shut down. So that’s been what political and economic leaders have warned against in every speech and conference since Lehman Brothers collapsed. And that’s what they’ll warn against in this weekend’s International Monetary Fund meeting in Washington D.C. also.

But unless some historic agreement can be whipped up among the canapes and photo ops during the weekend, that’s right where the world is heading, pell-mell.

 

[crws]

Too late to the party...
back to self-preservation.
F 83%
C 4%
S 3%
I 2%
L2 2%
L3 2%
L4 2%
Li 2%

 

[Birchtree]

Frankly if bonds tank you are vulnerable - do you like jelly on your toast.

 

[crws]

Frankly if bonds tank you are vulnerable - do you like jelly on your toast.

for a second while signing in I thought I was Nnut!
You party on without me, QE2+ is on the way.
Frankly, however, I am quite concerned regarding currency stability,
and while QE2 will get some cash in the system, there is more than enough
floating around to spike inflation to undesirable levels in a very short time,
much faster than I can react with the TSP system.
While my 80+/20- setup hasn't grown by leaps and bounds, I've had steady growth
with little or no concern for what the market is doing day to day.
We'll see how the foreclosure mess develops over the next week or so, but it's obvious banks
were anxious to flush their books prior to year end, and now may have to sit on a red ledger thru the holidays.

 

[crws]

Frankly if bonds tank you are vulnerable - do you like jelly on your toast.

I like my cake and to eat it too.
Like those days when bonds and equities both go up.

I earned almost 1/2 what you did today, most likely at far less than 1/2 the risk.
You are a courageous fellow, for sure.
However, I can hear your friend Amoeba lamenting about knowing when to quit as the key other half in keeping hard earned gains.
Ahhh, but who am I, especially when so new to the trading game....
-and "liberal" :laugh:

 

[crws]

USPS Liabilities are a Colossal Sham :
OIG Says USPS Could Recover $142.4 Billion
http://apwu.org/news/burrus/2010/update17-2010-101008.htm

A Colossal Sham
The media dutifully repeats the claim that the Postal Service is teetering on the edge of bankruptcy, but neglects to point out that these questionable obligations have nothing to do with USPS “operating expenses,” which include employee wages and benefits. The liabilities are a colossal sham, seized upon by postal management and by anti-worker congressmen who wish to erode the gains made by postal employees over 40 years of collective bargaining.

In fact, the USPS should be cited as “Business of the Year.” The Postal Service has survived the worst recession in 70 years, along with societal shifts in communication, and congressionally-imposed funding mandates that are not applied to any other commercial or governmental entity in the country. The USPS has endured, while providing the best mail service in the world at the lowest cost.

The Inspector General reports that despite all these obstacles, if accounting rules were applied uniformly, USPS deficits would disappear and the Postal Service would experience unprecedented surpluses.

Unfortunately, the Office of Personnel Management (OPM) has ruled that resolution of these issues will require legislative action by Congress.

The Lynch Bill (H.R. 5746), which would alter the methodology for computing USPS pension costs, is a step in the right direction.


William Burrus
President

 

[crws]

The more I read, the more I'm convinced.
Off to the garage with my equities.
I'll CA in using payroll or cancel my IFT if things improve...

IFT set 10/12 cob

G 15%
F 83%
Li 2%

 

[crws]

Inside Job - Charles Ferguson (See also- "No End in Sight")
http://movies.nytimes.com/movie/462064/Inside-Job/trailers

 

[crws]

Farewell, my friend...

 

[crws]

Moody's to review JPMorgan Chase servicer rating after foreclosure suspension

http://www.housingwire.com/2010/09/29/moodys-to-review-jpmorgan-chase-servicer-rating-after-foreclosure-suspension?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+housingwire%2FuOVI+%28HousingWire%29
Moody's rates servicers on a scale of SQ1 as the strongest, to SQ5 as weakest.
Currently, the JPMorgan Bank primary servicer rating is at SQ1 on residential and subprime loans.
Its primary servicing portfolio totaled roughly 6.8 million loans for an unpaid principal balance of roughly $1.2 trillion as of June 30.

 

[crws]

Foreclosure Fraud For Dummies, 1: The Chains and the Stakes
By Mike
(Mike Konczal, a former financial engineer, is a fellow with the Roosevelt Institute, who also blogs at New Deal 2.0, and is working on financial reform, the 21st century economy, structural unemployment, inequality, risk sharing, consumer access to financial services and more generally what it means to have a social contract in a financialized, post-industrial economy. He’s written papers for the Roosevelt Institute about financial reform several times as well as the deficit and the unemployment crisis. His work has appeared at The Atlantic Monthly’s Business Channel, NPR’s Planet Money, Slate, Baseline Scenario, Seeking Alpha, Huffington Post and The Nation. Originally from Chicago, he enjoys finance, economics, sociology, theory, tacos and center-left politics on the side.)
http://rortybomb.wordpress.com/2010/10/08/foreclosure-fraud-for-dummies-1-the-chains-and-the-stakes/
The current wave of foreclosure fraud and the consequences for the economy are difficult to follow. As such, I’m going to write a few posts to simplify what is going on so you can follow stories as they unfold. This is very 101 level, and will include a reading list of blog posts and articles at each stage to help provide depth. (Special thanks to Yves Smith and Tom Adams for walking me through much of this.) Let’s make three charts of the chains involved in the process. The first is what is currently going on with foreclosure fraud.

“Oh what a tangled web we weave, When first we practice to deceive” Sir Walter Scott

 

[crws]

Excellent post:
Debunking Banks’ “Procedural Problems” Defense on the Foreclosure Crisis

Reader ella in comments provided a reminder:

An affidavit is a legal document which can substitute for live witness testimony in court. All testimony in court is governed by the rules of evidence or by statute.
All testimony requires that the witness swears to tell the truth, is competent and has personal knowledge of the facts they are testifying about.
An affidavit is no different, in most if not all jurisdictions; the affiant swears to tell the truth by being placed under oath by the notary,
the affiant states in the affidavit that they were sworn, are competent and that they have personal knowledge of the facts in the affidavit.
The notary attests to the oath of the affiant and that the affiant is who he claims to be.

If a witness lies in court or in an affidavit then they could be charged with perjury. Perjury is lying to the court.

The affidavit issue is being portrayed in the MSM at a paperwork problem. Lying to the court is not a paperwork problem.
Attorneys are prohibited from making a material misrepresentation to the court of fact or law.
Further, attorneys in most jurisdictions have an affirmative duty to report known perjury by their clients to the court.

The problem with the affidavits is perjury on behalf of the affiants and possibly the notaries depending on the notaries’ knowledge that the affiants had not reviewed the files,
the promissory notes, the mortgages, or the records of default.

Further, you can reasonably argue that the entities pursuing foreclosure (banks or servicers) have perpetrated a fraud on the court by submitting perjured affidavits.
If the attorneys representing the entities have knowledge of the fraud or are preparing questionable documents then they may also be involved and subject to penalties.

At the heart of any trial or hearing is the determination of the truth of the matter. It is the very purpose of the rules of evidence and what law and fact is presented to the court.
If the affiants lied, as it appears, then the truth of whether they owned the note and held the mortgage and the borrower was in default is at issue.
Courts, Attorneys General, and bar associations need to serious consider actions that will assure compliance with the rule of law.

This country cannot stand as a democracy if there is one set of law for the banks, corps, elites and another set of law for the rest of us.
Perjury and fraud on the court is very serious matter. It is not a mere paperwork problem.

 

[crws]

Pressure intensifies on mortgage lenders
(Reuters) - More than two-thirds of U.S. state attorneys general plan this week to launch a joint probe into charges some banks used
fraudulent paperwork to kick struggling borrowers out of their homes, a source familiar with the effort told Reuters on Sunday.

http://www.reuters.com/article/idUSTRE6991YG20101010
The source, who spoke on condition of anonymity, said the deadline for attorneys general to sign on to the investigation effort
led by Iowa's Tom Miller was at the end of the day Monday, so a formal announcement could be made on Tuesday.

At least half a dozen attorneys general have already announced individual investigations into the foreclosure mess.

The total number of attorneys general calling for an investigation is not precisely known but it is expected to be at least three dozen and possibly more.

 

[Birchtree]

Unfortunately, a majority of these minority at risk subprimer clowns haven't made a mortgage payment for over 18 months - they are basically squatters. It's time for them to go back to free public housing and vote Republican next time.

 

[crws]

Unfortunately, a majority of these minority at risk subprimer clowns haven't made a mortgage payment for over 18 months - they are basically squatters. It's time for them to go back to free public housing and vote Republican next time.

Sorry, Charlie...
Try again.
BTW, weren't the Republicans in charge when all this got started?
I'd say Slick Willie was in on it, but he was newt-ered....
61% of All Subprime Mortgage Holders Could Have Qualified for Conventional Loans

http://www.nhi.org/online/issues/109/bradley.html
Those most hurt by the growing subprime market are black and Hispanic borrowers. A September 1999 study by HUD shows that since 1994, conventional, prime lending to black and Hispanic borrowers has dropped, and that black borrowers are increasingly being turned down for prime rate loans in numbers that far outstrip whites. The same study shows that lending by subprime companies to minorities is on the rise. Not all subprime lending is predatory; higher credit risks are normally charged higher interest on loans. But the growth in subprime lending to minorities, when coupled with the decrease in prime lending, leads to concerns that minority borrowers with good credit are being shut out of conventional markets and channeled instead into more expensive, subprime loans.

Good subprime lending to borrowers with risky credit can be profitable without engaging in any predatory practices. However, studies by Freddie Mac and Standard & Poor's indicate that 63 percent of subprime borrowers would have qualified for conventional "A" or "A-" quality loans

PS- did I mention that BofA's gonna go down?
Not like it's going to be Chase... http://en.wikipedia.org/wiki/J._P._Morgan#1907_Panic
you watch, but if I were you, I'd use that fresh 3M sparingly....
smells like a trap.
Just lookin out for ya, bud.