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    LIBOR:Once Again History Repeats Itself

    LIEBOR Scandal Widens


    Evokes mid 80s Prime Rate Lawsuits


    Jackie Kleiner sure knew how to scare the shit out of bankers back in the mid 80s.  Seems banks had forgotten to change their definition of the Prime Rate in the loan docs.  They called it the rate they lend at to their best customers. That was true until it wasn't.  To keep up  with the  Joneses (European banks)  US banks  started moving away from Prime as the base rate.  They started lending to large corporate credits using LIBOR as the base rate which just happened to be hundreds of basis points below prime.   Hence they were lending  to their best customers like Coca Cola at LIBOR plus 50bp say 7.5% when Prime was 13% to the 99%:  the bankers held Prime artificially high just because they could milk the average cow dry.  This definitely came back to bite them in the ass when a small time attroney figured it all out and sued the sons-a-bitches.


    Maybe the LIBOR police should take a look at history repeating.  Attorney Generals, time rev up your engines.  




    Sobbing for Saab: Liquidation to Begin

    Saab Files for Liquidation After G.M. Balks at China Deal

    • PARIS — The owner of SaabAutomobile finally threw in the towel Monday, filing for bankruptcy after hopes of a life-saving investment from Chinese investors collapsed in the face of opposition from General Motors.


    End of an Era






    Soft Landing: Jeff Bezos for Secretary of the Treasury and Chairman of Fed

    Bezos, the Rocket Scientist, Perfects Vertical Take-off and Landing 


    Now this is what you call a soft landing.  China...are you watching?



    Songify THIS: Now That's  Leadership!!!!

    Yes We Can Can Na Na Na Yes We Can Cha Cha Cha


    Obama Gets His Groove On with Scmoyoho's Songify


       Now just imagine what would happen to politics in America (and to network ratings) if all State of the Union speeches were this inspiring!  







    Live Coverage of Police Clearing Zucotti Park

    A New Moment in 21st Century Capitalism


    Watch live streaming video from occupynyc at livestream.com


    Bono Gone Bonkers: Don't Look at U2; Look at U6

    Reading the Fine Print


    How Bureau of Labor Statistics Calculates Unemployment: U1-U6



    Here is magnified fine print of definitions of U1-U6; if you include people who have basically given up looking for a job the underemployment (read: Unemployment is really 16.5%)



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