Obama’s Baby Steps into White House
Like a potential good stock that could yield profit and dividend, Americans trusted Barack Obama and elected him as President on his promise of “Change”. In stock market, the investors usually buy on rumor and sell on fact. That rule still applies to the President elect. Barack Obama is beginning to recede on his promise to change.
He is no longer a dashing flawless speaker. He is intermittent, evasive, confused and disenchanted. Instead of adopting change that he had promised, he is following the same beaten path as his predecessors, counting on old guards in Clinton Administration for his new cabinet. It looks like that Bill Clinton is having paramount influence on Barack Obama. Will he be the proxy of Bill Clinton the way George W. Bush was for his mentor father, former President George Henry Bush?
Change? What Change? Obama is beginning to ask himself while facing hard reality. Mr. Obama, you had a safe journey in the space so far. Now face the hostile home for a change. Welcome back to this planet.
From whatever we hear and see from his utterances in print and media, he seems to be making startling beginning. It seems that he was during campaign guided on economic front by Robert Rubin, former Treasury Secretary, now with Citigroup, who is the most dangerous man around in the United States.
Rubin was wholesale destructive. He destabilized and eventually destroyed the Glass Steagall Act, 1933 during Clinton Administration. He saw it as an impediment to the merger of Citi Bank and Travelers group. Rubin therefore unduly influenced or advised President Clinton to approve the abolition of the 65 years old law that finally sow the seeds of today’s sub-prime related crisis, where banking, securities and insurance businesses could be conducted by a single institution.
This was what exactly opposed by the Glass Seagall Act, 1933 formulated under President Roosevelt Administration that separated the business of Banking, Insurance and Securities for common good to avoid the conflict of interest. The integration of Commercial banking, Insurance and Securities business earlier had caused massive stock market crash in 1930s and saw closing down of over 4000 Banks, Security houses and Insurance companies that resulted into deeply recessed depression. Had that act survived today, we would not have seen today’s crisis in Banking, Investment banking (securities) and Insurance world.
Almost all these troubled banks, brokers and insurance companies today are engaged in concurrent banking, insurance and securities business. No one knows who should control whom. SEC would consider banking as FED job, FED will consider derivatives as SEC job and SEC will consider banking default as FDIC job. It finally turns out to be no one’s job. Rubin also objected to CFTC (Chicago Futures and Trade Commission) role to oversee the “derivative trades” and legally removed their authority with the help of Alan Greenspan, then FED Chairman. These very derivatives are the crux of the present day problems.
Rubin created the web of non accountability, a specialization of his parent firm – Goldman Sachs. Paulson, also from same firm, recently followed it up while seeking $700 billions from the Senate on one condition – he would not be accountable or obliged to make any disclosure.
Non-accountability has gained momentum – from a few billions to $ 700 billions. Bernanke perfected it with massive $ 2000 billions or 2 trillions of infusion in the name of easing credit crunch!
Is it not silly that while both Paulson and Bernanke were soliciting Senate’s authority for $ 350 billions of TARP funds in first installment, Bernanke alone was distributing largesse of $ 2 trillions ($2000 billions) without seeking any authority from anywhere! When Bloomberg asked for the details of the distribution, the Fed did not even bother to reply under the weil of secrecy and national security. Now Bloomberg is filing a lawsuit under Freedom of Information Act.
Even the husky voiced Senator Barney Frank expressed dis-satisfaction at the use (or misuse or abuse) of $ 350 billions that evaporated in just under 30 days. California fire, my dear Barney, California wild fire!
President Bush was non-plus. In 8 years, he knew only three things – Iraq (Saddam Hussein), 911 (Twin Towers) and Afghanistan (Osama Bin Laden). In his quest for Middle East and Afghanistan, he forgot the map of the United States. While he went on terrorizing Middle East with Patriot missiles, his financial team of Paulson and Bernanke invented and practiced home grown terrorism on the Senators, Representatives, Senate, the House Banking Committee, the President and the American people.
It was a classic act of “Green” blackmail. “You do this else these terrible consequences will follow. Don’t blame us we did not warn you.” was the kind of address they gave to the Senators who were stunned as if they were observing a few minutes silence in deferential respect to the departed soul.
LTCM was destroyed by John Meriwether, former executive of Salomon Brothers. Rubin therefore started hating the Russians who brought about LTCM debacle. LTCM (that lost $1 trillions in derivatives, officially $ 4 billions as its own capital) was covertly encouraged by Rubin with remote control. This is why he helped organize its rescue when so many skeletons were about to come out in the open.
Warren Buffett, who took over Salomon Brothers in 1987 with great fanfare as great financial bargain, finally got rid of it when it was sold to Travelers Group in 1997. Travelers Group then merged with Citi Bank to become a Citigroup.
In similar fashion, he was seen to fondle Enron to manipulate the oil and gas prices in the world market through paper trading. Citigroup and JPMS actively supported him by financing Enron’s oil and gas related deals. When he saw the oil bets going against, he quietly resigned without attracting any notice.
No one asked him why did he resign? Not even his ardent admirer, Bill Clinton, then President, who crowned him as the greatest Treasury Secretary ever since Alexander Hamilton. (1789~95)
All bad companies promoted or rescued during Rubin’s regime, finally converged into Citigroup. Rubin then eased himself out of his position as Treasury Secretary into $115 Millions a year job at Citigroup to cover his tracts relating to dubious assets followed by newly developing bad asset – Enron. Citigroup and JP Morgan Chase (JPMC), who financed Enron, sold everywhere its spurious bonds similar to sub prime bonds and CDO/CDS derivatives of today, and got into hot trouble losing several billions.
During his tenure at Citigroup, he managed to settle Enron related lawsuits by defraying $ 2 billions to Investors in 2005 followed by recent settlements of $ 1.67 billions claim of the creditors. He also oversaw the $2.5 billions of Worldcom related settlement by Citigroup to irate investors and creditors. In short, it appears that he deliberately went there to cover all his tracts at fat fees of $ 100 Million plus per year.
In less than 5 years of Rubin’s Co-Chairmanship, after eating almost $500 Millions of salary as a parasite, Citigroup lost $ 70 billions in cash ($50 billions before + $17 billions in the from of taking over liabilities of its subsidiaries in the form Structured Investment Vehicles). He also forced (persuaded) the Fed to guarantee its lousy and worthless portfolio of $ 360 billions, presumably in the form of CDO (Collateralized Debt Obligations) CDS (Credit Default Swaps) or CLN (Credit Linked Notes). In short, he managed to persuade his compatriot Hank Paulson and Ben Bernanke to spend $ 430 billions of known figures to finance Citigroup. How many of $ 2 trillions additional largesse was given away by bearded Bernanke are still not counted.
And what did the Citigroup do with $430 Billions? It fired 75,000 employees. In short, the Fed and Treasury gave away $5.74 million to Citigroup for firing each employee. It will cost the State additional $4.5 billions towards unemployment allowance and lost taxes of $ 1.5 billions had these employees remained employed and paid taxes.
Rubin followed the doctrine or mantra of strong dollar policy to manipulate the world market. He was in fact strongly suspected to be instrumental in causing Asian Crisis when Euro was about to be borne. He did not want Asian nations to shift their reserve lying with FED to Euro. He therefore appear to have destroyed Asian currencies with the help of two renowned Hedge Fund managers – George Soros and Julian Robertson. What you see today of strong dollar in spite of gigantic troubles are the “ditto” measures adopted by him during Clinton Administration. This time, his other colleague from Goldman Sachs, Hank Paulson is doing that dirty job.
Rubin was clever enough to remain always in the background, allowing pawn players to do the dirty jobs on the foreground. In the event of troubles breaking out, he was always there on crime scene like a forensic expert searching for clues with intent to search and destroy whatever remaining hints floating around that might point fingers at him later.
Obama was looking at the same old Rubin during campaign for economic guidance which was the first disastrous mistake he was making in the dressing room before going to play his first game at the White House on January 20, 2009.
Obama appointed his formidable opponent Hillary Clinton as Secretary of State. She is a hawk whereas Obama himself is a Dow. There is no matching chemistry. She will wage war with anyone – a female replica of George Bush – completely opposite character of her affable spouse Bill Clinton.
The internationally acclaimed and a rational person could have been former Secretary of State – Gen Colin Powell who is highly respected by almost all leaders, friends and foes, around the world. Obama missed him in his first baseball shot. He sacrificed Gen Powell in an act of balancing colors to avoid pointed fingers – his first grave mistake on foreign policy front even before he took over the office. It may be argued that Gen Powell was ineligible as Republican. However, Gen. Powell voted for him and also officially endorsed his candidature. There are no official restrictions to such appointment except in party politics,
Just as President Bush inherited the caucus team of Dick Cheney (Vice President), Don Rumsfeld (former Defense Secretary), Greenspan and other dumb heads from his father Sr. George H Bush, President elect Obama is following the same pattern by inheriting the legacy of Bill Clinton. Change? What Change? There is no change – same dud and dirty politics.
And here comes another firm. Goldman Sachs. Entire Fed and Treasury buildings are infested with the mammals from Goldman Sachs. Robert Rubin belonged to that clan. Hank Paulson also belongs to same clan. Neel Kashkari also comes from same place. It is Goldman who is calling the shots for over 15 years of America’s mismanagement of economy. Many of the Anchors of business channels have GS stamp on their butts.
The entire policy appears to be conceptualized in Goldman HQ, politicized at the Treasury, monetized at Fed, and finally sold like Sub Prime assets through massive publicity in perfect harmony and orchestration via business channels manned by trusted friends who were once upon a time were with Goldman Sachs.
Obama is now trying to pump in another $ 1 trillion into infrastructure spending, after massive $ 2 trillions influx into the system by the gang of Bernanke and Paulson. He is also hell bent on reducing taxes on individuals.
Never did he answer nor did anyone ask, how was he going to bring in income while spending on all fronts and destroying America at the speed of Katrina.
The whole nation has become a typified New Orleans where stupefied corpses are found every where in immediate aftermath.
Obama has given first glimpses of his carefully nurtured personality. When the “red blood” is oozing through the main street and Wall Street, he is talking nonsense about the “green air” exhorting all 3 Auto manufacturers to invent green cars.
It will be years before those Auto makers would turn their cars green, provided they exist. The immediate priority is to take them out of deep trouble and rejuvenate demand for their products by any means. For instance, He could announce impending immediate policy directive to all government departments to use only those vehicles made by 3 US auto makers for about 2 years temporarily.
That will give breathing time to Auto makers who need demand for their goods, not bail out funds which will be exhausted in no time if there were no demand for their vehicles. They could restart the plants and job firings will be halted immediately. In fact, it will start creating jobs in auto sectors and its ancillaries sending positive feelers all around in the period gloom and doom.
His currently reflected priorities are not of the becoming of a great leader about to sit on the coveted throne at the White House. He has demonstrated so far that he is neither a leader seeking “Change” nor a “Santa Clause” willing to part acceptable gifts – JOBS – to American Citizens on the eve of Christmas. Only a day before, an unemployed youth started firing in California and killed 9 peoples on the spot. This is only a beginning.
The only thing that changed during last 52 days of post election process is - his name. He has decided to use his middle name while taking oath at the White House. He is now Barack Hussein Obama about to stride into White House (Obama is a Christian, not Muslim). What is he trying to do by changing his well known name by including “Hussein” in the middle? Pacify Arabs and Islamic nations that a mixed secular name is going to lead America in future? If he had used “Hussein” as his middle name during campaign, I am 100% sure that he would have lost the election in most disastrous fashion. He does not have the mandate from the people to use his “Hussein” brand.
If name change were to usher in the dramatic change in the economy, George Bush would be left wondering why not he thought of it while facing disaster after disaster at home and overseas during 8 years of his ignominious presidency.
Obama is therefore showing the sure sign of just another “mediocre” at the White House!
The crisis is so acute that there were reports that “US military was preparing for domestic disturbance” Click here for Newsmaxx Report. With guns being freely licensed through out the United States, the nation is sitting on a huge volcano about to erupt. After years of practice of firing billions of bullets in other countries during last 60 years, US Military Commanders will have uphill battle back home for the first time firing for a change at their own people.
Will Barack Hussein Obama be the last ruling President of the beautiful nation once upon a time called “United States of America”? Don’t be surprised. It happened to USSR in recent past. It could happen again, this time in America for a change. Is this the CHANGE he was talking about?
And the distraught investor, Warren Buffet will be awaiting the final verdict from his city – Omaha, after investing $ 8 billions in Goldman Sachs and General Electric at the instance of Hank Paulson, who will no longer be around after 20th January, 2009
Obama, Osama and Omaha – what a rhyme in the American politics and finances!
Let us prepare ourselves for the “Great Royal Circus” in Washington. The curtain will be lifted on 20th January, 2009. It will be a battle royal in the far flung Afghanistan and Iraq – Obama vs. Osama.
Poor Lady Liberty must have been tired holding the torch for so long in the middle of the sea. It is time to find new home, she must be murmuring. Where, she does not know.
Kalidas, Hong Kong
Ref: 0812-020 of 2008/12/26
Link to this page
Hello i was wondering how much you would charge to set your blog theme up on my blog for me, because i really like the look of your web log but i don’t know how to set such a great theme.
Kalidas Says …. Monday, November 02, 2009
The said theme is “Journalist 1.9 by Lucian E. Marin” available from WordPress. It is FREE.
You may set up your website using this theme and wordpress blog affiliation. You can therefore have independent website with all WordPress features, plug in, widget etc. so that it can be updated on continuous basis.
Ask your web designer to include the above theme. If you do not have one, I will introduce you to my friend who has so far designed my all needs. Once you have this theme, with WordPress affiliation, you can change the theme on the fly from Add On feature.
wendy a. gordon
1 Nov 09 at 10:07 PM
Dear Sir , Following link shows Clinton is one of the 25 persons responsible for the current global financial crisis as per the Time Magazine’s recently conducted survy.
http://news.yahoo.com/s/time/20090216/us_time/08599187977400
Beauty is you never see Rubin’s name in the list of 25 people. What do you say ?:-) Does Time Magazine also run by his men?
Shiva
Bangalore India
Kalidas Says …. Sunday, February 22, 2009
Stop thinking of manipulation or conspiracy at all time. Time is a prestigious magazine. It is not run by henchmen of others. If this what you think, then you do not know America.
Further, the magazines have to be very careful before making any allegations to an individual person of the calibre – Rupert Rubin. They could be sued for millions of dollars. Dan Rather had to leave CBS NEWS for alleging Bush’s military records which were not accurate. CBS simply dumped the one of the finest News Anchors of all time.
Rubin was working under Clinton, so he can afford to say, I did what I was asked to do.
Shiva
16 Feb 09 at 9:50 PM
Citigroup, Morgan Stanley talk about merging units
Is J P on the verge of collaspe.
Manan Vaghani,Bhavnagar,Gujarat.
(Ref: 0901-nrp) Sunday, January 11, 2009
Kalidas Replies..
JP Morgan is bankrupt for long time, in my opinion. Bears Stearns was shown as cause, but in real sense, it was rescue of JPMC. I have made it clear in many articles on MMB
Citigroup and MS can not merge now. MS is just converted into a bank. MS is high quality firm – they do not need bankrupt Citigroup. As newly formed bank, it can now borrow from Fed, so there is no need to have any other intervening party.
Do not post such queries under the above article. Be discreet in future, where you post your enquiries. I really do not enjoy writers who do not observe the basic discipline. The above article was related to Obama and not Citigroup in particular, although there were some passing reference to it.
manan
9 Jan 09 at 11:47 PM
Sir,
I have posted this under NASA sathyam section. Please delete it from this section.
Just now I saw news that Rubin resigned from Citi. Probably last days of CITI are nearer than ever before. It is nature of Rubin as you have written above not to take any accountability when CITI goes BUST I also read CITI /Morgan Stanley Brokerage houses are in Merger Talks. Some time back , rumors were going around that Goldman and CITI may get merged .Why suddenly it shifted to Morgan? Is the objective of this merger is to nullify the shorts and longs on derivatives again?
Shiva
Bangalore India
shiva
9 Jan 09 at 7:10 PM
Dear Sir ,
Today I was happy to see the news that Congressional Oversight Panel blasting Treasury for misusing $700Billion and also for lack of transparency.
It is so funny to see that treasury is using money just for manipulating the market /futures/ currency across the world , controlling commodity prices including gold and mainly writing off the red in the biggies, balance sheet. Not even single dollar might have reached common man yet. But congress thinks they are using it for public financing / aiding home owners. Etc.
Such an Irony . Such a political Drama. I am wondering how can such ignorant people can run the country like US.
Paulson may be counting his days to wash off his hands.
Shiva
Bangalore
(Ref: 0901-075) Saturday, January 10, 2009
Kalidas Replies..
Kalidas Says ….
Paulson and Bernanke scared the hell out of Senators on first presentation when they stunned the listeners with dire consequences if something was not done. I have already penned article to that effect. The Senators acted over it when the stocks were crashing 700 to 900 points in a day. They were blackmailed by this duo. Paulson work was done – Goldman was saved and converted into bank. He got them back billions of dollars from AIG.
“Jakh mare Duniya, apna kaam karo aur chale jaon. Kaun puchhne wala hai aage. Dekha jayega” was the attitude of Paulson.
shiva
9 Jan 09 at 7:37 AM
Dear kalidas ji,
It has been already an eventful beginning to 2009.
I wanted to know:
1.) How much of Debt could have been bought by China? (In terms of treasury bonds, US debt instruments, etc)
2.) Do we see some banks in China go down, as Investors (mostly americans) are dumping their stake from the Chinese Banks?
From Bloomberg:
====================================================
Bank of China fell 1.7 percent to 2.95 yuan. Li’s Magnitico Holdings Ltd. is selling 2 billion shares in Bank of China at HK$1.98 to HK$2.03 each, according to a sales document. Separately, Royal Bank of Scotland Group Plc is discussing selling its 2 billion pound ($3 billion) stake in Bank of China, the Financial Times reported.
China Construction Bank Corp., the country’s second-largest bank, fell 3.9 percent to 3.72 yuan, extending yesterday’s 2.6 percent decline as Bank of America Corp. sold $2.8 billion of its Hong Kong-traded shares.
=====================================================
3.) Sir, what implications does the top down approach (as taken by china with respect to economic reforms) have?
Regards,
Girish, Pune (INDIA)
(Ref: 0901-066) Saturday, January 10, 2009
Kalidas Replies..
I do not read much into this, in spite of large size. Americans are running out of cash, and they are cutting down exposures overseas. It is home coming of money. China is more like India. No chinese bank will be allowed to fail by its Government. They own it and they will maintain it .
Girish
8 Jan 09 at 11:11 AM
Sir,
I too have the same feeling. Raju is trying to save cash or trying to move it to Reddy and gang. I was told by my Hyd. Friends that Mayatas got the Metro project by corrupting the politicians and promising to sponsor elections. So Looks like he tried to move the cash by buying Mayatas . When that failed he said profit itself does not exist. Just a day before I saw a news Andra govt will re-look in to Metro contract with Meyatas. This might have pushed Raju to take this extreme step to fund politicians. Elections are coming very nearer right !! He may want to be on the right side of politicians in India than any one. With that he would be saved you know even if it tarnishes his image.
Moreover as you said customer case in US is hanging on his head.
Rgds
Shiva
Bangalore
(Ref: 0901-057) Saturday, January 10, 2009
Kalidas Replies..
Kindly re-post your message in appropriate forum/section. If there is no forum, field your enquiries in Confused Mind and Clear Answers for the current month.
I am replying you here, but it will be deleted after 3 days and will not be transferred to appropriate section because I do not have facility.
Indians have gone mad on infra structure. Every listed company want to get into that business even if they have no experience no relevance to their line of business. They know that if they want to increase the value of their shares, they should get into this line. What they are doing is to buy the land and other concessions in their name and then transfer the holding to their listed corporate identities at 100 times value. This is how they manipulate their share price and inflate the balance sheets.
shiva
7 Jan 09 at 2:45 PM
Dear Kalidas,
I know this is off-topic. But it is today’s big news which made another history in Indian markets.
Satyam Computers CEO admitted fraud charges. The stock is down today 77%. Its combined trading volume on NSE and BSE is 470 million shares. I see such volume only for those companies which are near bankruptcy and that too on NYSE (Wall Street).
I am wondering whether this is intentional fraud (theft by manager) or a plot to cover up losses coming from Derivative Crisis. Probably they might be holding lot of toxic derivatives for which FED or Treasury of US does not hold any responsibility. Today, I am not clear about what is behind this.
Can you throw some light on this scene from your perspective? Don’t you think toxic derivatives should surely have some effect on this scene?
It was a great day today (for short sellers & news makers).
Thanks,
Narender,
Bangalore.
(Ref: 0901-046) Thursday, January 08, 2009
I am writing separate article on this subject that may appear tomorrow morning under NASA. One point, I disagree with your observation that high volume is indicative of company near bankruptcy. In bad market or bad news, you normally do not find buyers even at 10% to 20% lower circuit. Whereas in this case, there were 470 million shares traded on NSE. Volume on BSE is not counted.
Yes, there were sellers for 470 millions shares . but there were also buyers for 470 millions shares. Without buyers there would not have been such large volume. This clearly signifies that there is something more than what it meets our eyes. Who were those buyers? Were they stupid not to know what they were doing, or most of the sellers did not know what they were doing? Why did not seller ask themselves – hey we are selling wholesale and these buyers do not run away – they are also coming in wholesale? Someone was accumulating very big stake at lower prices. It was by design rather than accident.
When the market dropped 3000 points in Jan 2008, many blue chip counters traded at lower circuit of 20% and there were no buyers. There could not be that volume. In Satyam, the case is different. More in my page under NASA tomorrow.
Narender
7 Jan 09 at 10:51 AM
Sir,
Can you please comment on Satyam saga happend today.
What will be it after effects on Ind Inc? I am working as software engineer and i am not sure how the coming days will hold.
Thanks,
Pradeep.
Kalidas Says …. Posted in wrong forum. Use proper forum. this will be deleted in 2 ydays.
Pradeep
7 Jan 09 at 8:39 AM
New York: There’s more cash available to buy shares than at any time in almost two decades, a sign to some of the most successful investors that equities will rebound after the worst year for US stocks since the Great Depression.
The $8.85 trillion held in cash, bank deposits and money-market funds is equal to 74% of the market value of US firms, the highest ratio since 1990, according to Federal Reserve data compiled by Leuthold Group and Bloomberg.
Turnaround trigger: Traders at the New York Stock Exchange. The eight previous times that cash peaked compared with the market’s capitalization, the 500 rose an average 24% in six months / Bloomberg
please explain
Manan Vaghani, Bhavnagar Gujarat.
(Ref: 0901-045) Wednesday, January 07, 2009
Kalidas Replies..
Cash is printed in FED printing house. They printed over $ 3 trillions which went to banks to wipe off their red ink. Oficially, they may say that money was there, but there is no money. Use your common sense, the people are losing jobs, housing value, investment value, personal assets, 401K savings, – where is the money?
Bloomberg reported yesterday that foreclosure will rise by 76% in 2009. that is by another 3 Million homes, this time higher value one, not sub prime. that is, over Rs 100 billions of foreclosure will take place this year EVERY MONTH. since derivatives are issued 6 times, everymonth the bad advance generated will be $ 500 Billions or $ 6 trillions. So all major banks including CIti, JPMC will lose another several hundred billions of dollars.
Don’t simply read the news. Think it over – Could it be? If so much idle money was lying around, there would not have been credit crisis at all.
Take your quoted figures – $8.85 trillions = $ 8850 billions = $8,850,000 Millions. divide it by US population of 330 Millions or 100 Million families, It means $ 88,500 dollars cash with each and every family in United States. They do not have even $8000 dollars savings per family, where is the question of other $ 80000 (Of course, mutual funds, pension funds will have that money, but that money also comes from each family savings)
The report writers are hired by Newspapers to sell their story. They approach FEd officials for interview. Fed fools them and these writers try to make us also fools. I am NOT.
manan
6 Jan 09 at 10:41 PM
Sir,
Your analysis and forecasts on different issues are excellent. I request you do similar analysis on “Satyam/Maytam” deal aslo. Lot of analysts given different opinions on this. But I think you are the best.
Regards
Nagendra
Hyderabad
(Ref: 0901-027) Kalidas Replies Monday, January 5, 2009
I really do not understand software stocks. It required lot of inside info. Most of the public info are again non-verfiable independently. I therefore stay away. You may rely on some other experts.
nagendra
5 Jan 09 at 1:28 AM
New York’s police chief warned Wednesday that banks need to beef up security as thieves respond to the recession with a wave of heists.
“We have seen an up tick in bank robberies,” Commissioner Raymond Kelly told CNN.
Five banks were robbed in New York on Monday, capping a surge in heists that saw 431 banks targeted in the city this year, compared to 280 last year.
Kelly plans to meet with bank executives in January to discuss the surge, the Daily News reported.
“To a certain extent we think the banks are responsible for some of that because they haven’t really paid attention to doing some of the things we think will protect them,” Kelly told CNN.
He complained that bank’s open-office plans, meant to make them more customer friendly, made a “bank look like a living room,” the Daily News said.
The New York Times noted that “robberies may have been fueled in part by the financial desperation that sets in during a recession and the added pressures of the holiday season
Kalidas Replies..
NO REPLY MERITED BECAUSE THE READER DID NOT OBSERVE PRESCRIBED NORMS.
manan
2 Jan 09 at 11:51 PM
In what may be the latest sign of the harsh economic times, five banks in New York City were robbed on Monday, four of them within an hour and a
half.
Most of the robberies occurred in heavily trafficked areas in broad daylight, including one that occurred near the Lincoln Center in the afternoon.
The rash of bank robberies began about 9.20am in the Bronx, when, according to witnesses, two men held up a Washington Mutual branch, making off with $3,000. The bank sits in front of a busy elevated subway station in a commercial district.
Twenty minutes later, another robbery took place in Brooklyn at the Valley National Bank. At 10.22am, the third bank was robbed, an HSBC branch at 22-15 43rd Avenue in Long Island City, Queens. Around 10.45am, a man walked into a Sovereign Bank at a commercial strip in Greenpoint, Brooklyn. Unlike the earlier robbers, he was caught.
For a few hours, it seemed as if the chaos had ended. But another group of robbers was lying in wait, planning an even more daring heist, at a bank south of Lincoln Center. Two men entered a TD Bank at Broadway and 62nd Street around 3.30 pm.
(REF: 0901-012) KALIDAS REPLIES TO Mannan FROM ??? SATURDAY, JANUARY 03, 2009
Reminder: To get reply, please append City and Country name to your signature invariably. No warning next time. Your mail will be deleted instantly.
Why bother about petty thieves? The big thieves Bernanke and Paulson are getting away with the loot of $ 2.7 trillion dollars. When the people lose jobs, do not get money from the banks, they rob them. It is inevitable. This is why I mentioned that US will be facing worst form of riots, with gun being licensed to everyone. “Tha Chaon”
manan
2 Jan 09 at 11:46 PM
Heelo Sir,
I think the things are moving as planned. I am not sure if people have heard about New World Order or Free Masons, Illuminati….Do a google search and lot of what is happening now in the Financial/Political sector will be clear to all…..It seems something which will affect all our lives will happen by 2010
Thanks,
Saumit
(Ref: 0901-001) Kalidas Replies to Saumit from (Unknown Place) Friday, January 02, 2009
Reminder: To get reply, please append City and Country name to your signature invariably.
No reply posted nor required
2010 is still far away. Let us bother more about 2009
saumit
1 Jan 09 at 12:54 AM
Kalidas,
Now another Russian expert is also predicting breakup of US.
As if Things Weren’t Bad Enough, Russian Professor Predicts End of U.S.
In Moscow, Igor Panarin’s Forecasts Are All the Rage; America ‘Disintegrates’ in 2010
http://online.wsj.com/article/SB123051100709638419.html
In fact, the article says he has been predicting this for a decade, when nobody listened. He fixes the data to July 2010.
Another thing that US has just done (Bush Administration):
Allowing loaded guns in national parks is a reckless move
Dianne Feinstein
Tuesday, December 30, 2008
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/12/29/EDIB15093O.DTL
It says that 25 year old regulation to avoid loaded guns, but to allow unloaded guns kept far from National parks, has been changed.
Now they say that National parks and wildlife refugees which were once safest places are no longer so.
Did you get to know this? There is a doubt whether Bush might do even more dangerous things next 3 weeks.
There are also news that many chinese workers are going to back to their villages after losing jobs. It seems there will be riots in many parts of world due to this economic collapse. I think compared to communal riots in India during 1992, 1984 this may not be a new thing for those who have experienced.
Happy new year!
Regards,
Narender,
Bangalore.
Narender
30 Dec 08 at 11:04 AM
Sir, As usual, another article with a difference that it cautions Obama even before donning his mantle. Sir, I understand that the Indonesian President has vowed to bring down corruption in his country and a study was earlier conducted covering Asian countries on the subject by UN. I feel that an article by you will be very useful.
sekar
29 Dec 08 at 11:04 AM
Dear Kalidas ji,
This URL (mentioned below) has no / little relevance with the topic posted, but it is about something which you have been mentioning (About paulson being intelligent idiot and how he has been blowing up the $$)…..
http://money.cnn.com/galleries/2008/fortune/0812/gallery.dumbest_moments_2009.fortune/3.html
Quote”From Henry Paulson’s original bailout proposal: Decisions would be “non-reviewable.”Un-Quote
In other words…”trust me!”
Regards,
Girish, Pune (INDIA)
Girish
29 Dec 08 at 10:42 AM
Sir,
I wish you a very Happy and Prosperous new year.
Regards
Badrinath
Bengaluru
India
badrinath
29 Dec 08 at 4:26 AM
Sir,
I deeply enjoy reading your articles and the way you present them. I have recommende many of my friends and collagues to your website and we all are benefitting from your wisdom. We all appreciate your efforts to impart wisdom to naive investors like us.
May you have a Very Happy New Year…
Suyog
29 Dec 08 at 3:59 AM
Dear Kalidas ji,
You once had mentioned that the credit crisis will worsen, if interest rates are brought down ~ 0%. This would discourage lenders, as they would prefer to invest in bonds.
Sir, with the above article, any slightest hope of an american revival is diminished as gradually people will start to come to terms that the SUPER HERO they elected does not know where his plans are going to generate required resources (Capital / Skilled Work Force).
Lending is at the lowest now in the US (On CNN they interviewed citizens who claim no bank is willing to lend them) and any further bailouts dont mean anything, as BANKS and Financial companies are clearing the RED from their accounts book with the $$ received in BAIL from the FED.
Where does the average / less privileged american go from here? It does not take too long to go from BAIL to FAIL…….(as Bankruptcies will lead to Frustration).
Best Wishes to you and your family for 2009.
Girish, Pune (INDIA)
Girish
29 Dec 08 at 3:27 AM
Wow. Yet another thought provoking and timely article. There’s so much information that I have to re read it few times to learn the past and understand how it has lead to current fiasco. So much knowledge to be derived here. I wish lot of Americans read this. I am personally sharing it with lot of my American friends.
Thanks,
Rajiv – Chennai
Rajiv.N
28 Dec 08 at 1:04 PM