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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (102345)	3/24/2009 2:47:26 PM
From: orkrious	Read Replies (2) \| Respond to of 110194

the most accurate and succinct post I've read in a long time, and I read a lot of posts.

To: Box-By-The-Riviera™ who wrote (102345)	3/25/2009 12:45:12 AM
From: NOW	Respond to of 110194

but you know that that would completely miss the point dont you?

To: Box-By-The-Riviera™ who wrote (102345)	3/25/2009 5:15:02 AM
From: Madharry	4 Recommendations Respond to of 110194

Who is they? remember you are talking about the government here: If you followed the Madoff/ SEC/ MARCO saga, you can begin to comprehend the inability of the government to do anything tolerably well. That is why bankruptcy is such a great thing for capitalism . entities who fail go broke assets are liquidated and purchased by self interested entities all without government financing and intervention. Instead we just have a bribed congress being told by incompetent regulators that the finacial system will destabilize if we dont bail out their friends that they failed to regulate properly. Surprise Surprise Congress has no problem funnelling trillions of dollars of OPM to prop these guys up. Interesting that no one has yet said that perhaps slicing up all the mortages and other debt and transforming them into packages that was stamped with a seal of approval by rating agencies just might have been a flawed product to begin with, because that would mean fingers pointing directly at Goldman Sachs. Something that two administrations seem to be dilligently trying to avoid . I wonder why.

To: Box-By-The-Riviera™ who wrote (102345)	3/25/2009 5:32:38 AM
From: Madharry	Respond to of 110194

just a current of the govt: AO: Undeserving companies collected millions in federal contracts due to poor SBA oversight * Hope Yen, Associated Press Writer * Wednesday March 25, 2009, 12:03 am EDT * Buzz up! * Print WASHINGTON (AP) -- Because of lax oversight, undeserving companies collected millions in federal contracts from an $8 billion government program designated for small businesses in poor neighborhoods, congressional investigators charge. The Small Business Administration repeatedly failed to verify paperwork and conduct audits to weed out sham firms claiming to have main offices in economically distressed areas, the Government Accountability Office said in a report released Wednesday, raising questions about an agency seeking to take a greater role in helping business owners stave off job losses. The GAO report examined SBA's Historically Underutilized Business Zone, or HUBZone, which was created in 1997 to help thousands of small firms in distressed areas. In some cases, the business owners freely admitted diverting the lucrative work to large companies or ineligible businesses. "Dishonest companies see skirting the rules as 'business as usual,'" said Rep. Nydia Velazquez, D-N.Y., who chairs the House Small Business Committee. "This is a program that needs to be shut down." Responding, the SBA said it was currently "re-engineering the entire HUBZone" process and that it generally agreed with the GAO's recommendations urging stronger checks, unannounced site visits and stiffer enforcement. The SBA is currently headed by an acting administrator while President Barack Obama's choice to lead the agency, venture capitalist Karen Mills, awaits confirmation by the Senate. To participate in the program, companies affirm that their principal office -- where the greatest number of employees work -- is in a designated HUBZone and that at least 35 percent of the firm's full-time employees live in that area. HUBZone firms also must spend at least 50 percent of a contract's personnel costs on its own employees. The GAO and SBA inspector general have highlighted problems in the awarding of HUBZone contracts dating back to 2003, with spot checks that found tens of millions of dollars in federal contracts were improperly awarded. However, no systematic review has been conducted to determine what percentage of the roughly $8 billion in HUBZone contracts awarded each year might be questionable. In the report, investigators found 19 ineligible firms in Dallas, Huntsville, Ala., San Antonio and San Diego that received nearly $30 million in Pentagon and Housing and Urban Development contracts for environmental consulting, medical support and information technology designated for HUBZone businesses. In one case, a Jacksonville, Ala., maintenance company touted a suite of offices in their address, which actually belonged to a trailer in a residential park. The sole occupant had nothing to do with the company. Meanwhile, the head of a Fort Worth, Texas, firm acknowledged she subcontracted 71 to 89 percent of her environmental consulting work to large firms and other businesses, explaining that large firms typically used HUBZone companies as "contract vehicles." "Our work demonstrates that SBA's fraud controls lack important elements needed to screen and monitor firms," GAO investigators wrote. They said the Fort Worth firm was clearly "undermining the HUBZone program's stated purpose of stimulating small business development in economically distressed areas." A report last July found similar problems in the Washington, D.C., area, noting that the SBA conducted few site visits and only asked for evidence supporting a firm's eligibility claims about one-third of the time. Because the SBA was slow to suspend or otherwise punish them, several ineligible firms continued to receive more than $7 million in government contracts. The GAO report comes as both Obama and his Republican critics are citing small businesses as critical to stimulating growth in the current recession. Obama is freeing up billions of dollars to boost SBA lending to struggling small businesses, although some watchdogs worry it could create wasteful incentives for banks to rush credit out the door. Velazquez blamed underfunding, program flaws and mismanagement by the Bush administration for HUBZone problems. She is urging that $1.5 million in the 2010 budget be used to give small business participants transitional aid as the program is shut down. "It is clear from this latest report that the HUBZone program is serving as a breeding ground for waste and fraud," Velazquez said.

To: Box-By-The-Riviera™ who wrote (102345)	3/25/2009 11:19:59 AM
From: LTK007	1 Recommendation Read Replies (1) \| Respond to of 110194

Only 27 recommendations? :) i want to show this from The Spear Report today, that in RESTROPECT they now see where you were then-- but at the time they were not having ideas, they were watching, and going "what's this?!":) Problem is JD, if what you put forth at that time of it all was going down and it had been actually done we wouldn't now be in this point of return.(Need laud Jim Rogers here also, he was in the Let The Die!! from the start) And TSR wouldn't be writing this today "One wonders whether the outright failure of AIG might have precipitated a necessary cleansing that would have been healthy in the long run for the global financial system. Instead, we have zombie corporations much like they had in Japan, where incestuous social loyalties prevented the government from cutting the largest banks loose for 10 years.>> "Incestous social loyalties" Yes, much of this crime has been that of the oligarchic nespotism of the "good old boy" chain of power. Of which, Obama, by rising high in the ranks of The Achievetron cartel, the Harvard Branch, has been via achievenomics and CORRECT BEHAVIOR thus been graced with membership in this "Good Old Boy" Gang, the Ruling Oligarchy of the U.S. In picking his cabinet he immediately surrounded himself with those ALREADY members of this Elite Club, so elite, it rules this country, and only in the favor what the Gang of Oligarchs Want.( o yes he wasin like 2007early 2008 he was INVITED to be in the CFR--one ONLY becomes a member by INVITATION only and he was attending meetings of the CFR at least during 2008) i link to the brilliant article by Lewis Lapham, The Achievetrons, to give my comments substance, showing some of the source material. This link is just to a post ON THIS THREAD Message 25494697

To: Box-By-The-Riviera™ who wrote (102345)	3/25/2009 12:56:27 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 110194

Great idea but will never happen. It's all about the pensions 401ks, IRA's.

To: Box-By-The-Riviera™ who wrote (102345)	3/25/2009 7:51:00 PM
From: TobagoJack	Read Replies (1) \| Respond to of 110194

you of course do know what they do to monetary terrorists, financial saboteurs, and economic rebels? do you look good in orange overalls? how long can you stay under water without fidgeting? oh, well, brave soul, i clicked a 'recommend' in your honor, nice knowing you :0)