I' ve decided to become a commercial bank...!

I will be accepting deposits next week, and the Treasury bailout paperwork should be out by then.

If you send me beer, I will make proper appointments to the BOD.

Year-end bonuses, baby!

American Express Banks on Federal Help - BusinessWeek

On Nov. 10, the Federal Reserve approved American Express' application to become a bank holding company. Until now, AmEx couldn't use the same tools as its rival credit-card companies to raise cash. Under the government's bailout plan, banks regulated by the Federal Reserve could rely on cheap funding from the Fed and from other efforts by the government to prop up the banking system. Also, these banks can compete for deposits from bank customers, another relatively cheap form of funding.

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RC, this is unfair, you are distracting my customers...

I want a clock radio toaster.

Sorry but its a sad state of affairs

How about Bank of Homebrewers or BoH we trade in Hop futures.

olllllo said:

I want a clock radio toaster.

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Outdated. Now it is more like:

"Do you want a bank with your toaster?"

Aah, capitalism at its finest, taking advantage of the swift transformation of the economy to socialism! :fro:

And I'm going to start an auto company, so I too can take advantage.

I wonder what is happening in the virtual worlds (Second Life etc.).

Are they mimicking today's real life, or did they regulate finance laws better in the first place...?
Is there an Alsaka, and who rules it?

I'm feeling really unhappy about making the mortgage payment on time and not having any credit card debt. I think I'll go buy all the rest of my AG equipment new, on credit, then not pay it.

I've been a merchant banker all my life! (English cockney rhyming slang joke)

I somehow think that all the financial shakers and movers got together a few years ago and one of them was like "Hey man you gotta try this, it's the bomb" as he passes the sub-prime mortgage bong, and then eventually they were like "hey man everyone is doing it" and of course then everyone was. You'd think the government would be all "What are you kids doing? that crap is worthless and won't get you anywhere in life" but instead it was more like "duuuuuuuuude yeah....."

conpewter said:

I somehow think that all the financial shakers and movers got together a few years ago and one of them was like "Hey man you gotta try this, it's the bomb" as he passes the sub-prime mortgage bong, and then eventually they were like "hey man everyone is doing it" and of course then everyone was. You'd think the government would be all "What are you kids doing? that crap is worthless and won't get you anywhere in life" but instead it was more like "duuuuuuuuude yeah....."

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No better analogy has ever been made. Today, at least.

Shecky is right that Conpewter was so spot on. That was hilarious.....and so true!! Nice one Conpewter!

Yup! That Gnome was right on about Shecky being spot on about conpewter giving an excellent analogy. :cross:

Laurel said:

I'm feeling really unhappy about making the mortgage payment on time and not having any credit card debt. I think I'll go buy all the rest of my AG equipment new, on credit, then not pay it.

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Don't pay your mortgage for 90 days and they will give you a better rate.

Yup! HBHoss was nose on that Gnome was right on about Shecky being spot on about conpewter giving an excellent analogy.

farmbrewernw said:

Yup! HBHoss was nose on that Gnome was right on about Shecky being spot on about conpewter giving an excellent analogy.

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...that sounds like a credit (default) swap mechanism..

Intentional??

We know how well these worked out for us.

Oh don't get me started on the credit swapping crap, that's the meth of the banking industry. That crap was illegal for pretty much the whole 20th century for a reason.

Dude! Where's my car?!?!

On a related subject, nice read:

deflation

wow.

conpewter said:

I somehow think that all the financial shakers and movers got together a few years ago and one of them was like "Hey man you gotta try this, it's the bomb" as he passes the sub-prime mortgage bong, and then eventually they were like "hey man everyone is doing it" and of course then everyone was. You'd think the government would be all "What are you kids doing? that crap is worthless and won't get you anywhere in life" but instead it was more like "duuuuuuuuude yeah....."

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Nice. You should submit this to the WSJ to include in the Opinion section. I think you summed it up better than any economist. You forgot the CDS meth though. And CDO heroin. That's what they did after they got hooked on the sub-prime bong.

:rockin:

Bah, screw you people and your banks, and auto industry bailouts! I'm sticking with making my own airline. Those have been bailed out for decades.

I think... once the auto industry falls apart... I'm gonna start my OWN car company here in the US!

Cheap, well put together, well designed autos that AREN'T flashy or fancy, and just F*ing DRIVE from A to B for cheaply!

I wanna see 40mpg minimum for a fairly roomy sedan. I wanna see 50mpg for the tiny 2-dr's. And if I can contract with another of these budding companies, maybe they'll just be electric from the get-go.

We'll have 4 models - a square boxy sedan, a square boxy compact, a square boxy Jeep-like SUV, and a square boxy station wagon - van hybrid.

WE'LL CALL IT VINTAGE AUTO! From the days when your car WORKED!

I'm changing my name to Fannie Mae myself



Tom Paxton rules!!!

Or I'll call myself Michael Chrylser....maybe they won't know...

I can't find the link I read a few days ago, so someone step up and find it for me... Someone claimed that close to ten percent of the bailout money was going towards bonuses and golden parachutes. I thought the first bailout plan failed due to lack of oversight, but silly me, it must have failed for having to few kickbacks to friends of the government.

Pass me that ARM bong, will ya?

<--- is bogarting the ARM bong