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Did JPM’s CIO Intentionally And Maliciously Start The Margin Call Avalanche That Crushed Lehman?

from Zero Hedge:

Should one attribute to malice and Jamie Dimon’s bloodthirst what sheer, brutal JPMorganite incompetence can explain far more simply? Read on and make your own conclusion.

It is conventional wisdom that in the days leading to Lehman’s bankruptcy filing on the night of September 15, 2008, sheer panic and utter confusion ruled ever back- and middle-office, over concerns that a counterparty, any counterparty, but especially Lehman, would end up being [...]

BREAKING: Obama Eligibility briefs NEVER Forwarded to Supreme Court! RETURNED UNOPENED!

On Sunday, a leading birther plaintiff claimed that clerks of the U.S. Supreme Court (SCOTUS) never forwarded to five out of nine justices one single page of pleadings in a lawsuit alleging that Barack Obama is ineligible to serve as president.

Dr. Orly Taitz, who is among the petitioners in the Noonan et al vs. Bowen case, sent a Feb. 17 email to Republican Examiner stating that the clerks did not [...]

Armed suspects tie up TARGET clerks, rob store without others noticing

UNION TOWNSHIP — Two armed robbers made off with Black Friday cash from a Target store after they forced their way into the cash room, tied up three employees and walked out before the rest of the staff realized what happened, police said.

The 40-minute robbery occurred shortly after the day’s sales bonanza had ended and a “full night crew” restocked shelves at the Springfield Avenue store, Union Township Police Lt. Robert [...]

Thousands of dead Californians remain eligible to vote

An NBC Bay Area Investigation has uncovered thousands of California voters who remain on the voter rolls despite having  died several years ago.

That discovery prompted several state and Bay Area election officials to re-examine their records, after our investigation brought this issue to light.

NBC Bay Area used the Social Security Administration’s Death Master File to cross reference with the California state voter rolls using name, date of birth, and similar [...]

The Inevitable Decline of Retail – Charles Hugh Smith

by Charles Hugh Smith

 

Online shopping is rippling through the economy, affecting not just retail but energy consumption and the job market.

 

Correspondent Marc A. responded to my recent entry Is Anybody Else Tired of Buying and Owning Stuff? (September 7, 2012) with an informed commentary on how online shopping is affecting the retail sector. The Web and online shopping is rippling through the economy, affecting not just retail but energy consumption and the job market.

Is [...]

JCPenney fired all their clerks

TAMPA – Struggling retailer JCPenney is making some big changes that will affect customers and its clerks. The store is getting rid of its check-out counters.

Read more: http://www.abcactionnews.com/dpp/money/business_news/jcpenney-to-get-rid-of-check-out-counters-and-clerks-use-self-check-out-machines-and-rfid-chips#ixzz22ChcXfXp

Will the Supreme Court crush Obama’s healthcare dream? President prepares for crucial ruling that could kill off Obamacare

Barack Obama faces one of the deciding moments of his presidency this week as the Supreme Court is set to announce whether or not his flagship healthcare overhaul is constitutional.

And while the White House seems to be leaking information left, right and centre, the court has managed to keep its ruling a secret for months.

America’s nine Supreme Court justices officially voted on the plan more than two months ago – [...]

POLL: Supreme Court Insiders Think Obamacare Is Finished

Most former Supreme Court attorneys and clerks believe that the individual mandate to buy health insurance — the signature provision of President Barack Obama‘s Affordable Care Act — will soon be struck down as unconstitutional by the high court.

 

That’s according to a joint poll by the American Action Forum, Center Forward and Purple Strategies. An astounding 57 percent of clerks and attorneys polled now think that the mandate will be ruled unconstitutional. That’s up from just 35 percent [...]

Former SNL star Jon Lovitz delivers the “can’t-miss” Obama rant of the year

From Economic Policy Journal:

[Warning: Do not read if you're offended by explicit language.]

Jon Lovitz, an early “Saturday Night Live” cast member, had some harsh words for President Barack Obama over the weekend, reports The Daily Caller.

In an interview with “Clerks” director Kevin Smith, Lovitz, a registered Democrat who voted for Obama in 2008, bashed the president for his class warfare rhetoric and the notion that the wealthy don’t pay their fair share in taxes.

“This [...]

Comedian Jon Lovitz calls Obama a ‘f***ing a**hole’ in shocking profanity-laced tirade

Former Saturday Night Live funnyman Jon Lovitz has targeted Barack Obama in an obscenity-peppered tirade where he calls the president a ‘f****** a**hole’ – and it’s no joke.

The nasally-voiced comic launched the tirade during an episode of the ABCs of SNL podcast he hosted with Clerks director Kevin Smith before an packed audience.

The podcast was recorded at Lovitz’s comedy club back on January 21 but audio of the episode had [...]

NOT AMUSED: Former SNL cast comedian calls Obama ‘f***ing a**hole’ over high taxes

Jon Lovitz, an early “Saturday Night Live” cast member, had some harsh words for President Barack Obama over the weekend.

In an interview with “Clerks” director Kevin Smith, Lovitz, a registered Democrat who voted for Obama in 2008, bashed the president for his class warfare rhetoric and the notion that the wealthy don’t pay their fair share in taxes.

“This whole thing with Obama saying the rich don’t pay their taxes is [...]

The world is saved! Greece is bailed out! At least for today.

Everyone is so busy running on the gerbel treadmill just to stay afloat that they miss what is most important.

Maybe this is the problem… everyone is so broke, they can’t even pay attention.

But the market is already discounting the new bonds that will be issued. Lo and behold! We see an inverted yield curve and interest rates over 20%. So before the ink has even hit the paper, the marketplace [...]

U.S.Loses High-Tech Jobs as R&D Shifts Toward Asia

Saw this in yesterday’s copy of the Wall Street Journal paper.

Here’s the on-line version. (Note: You may have to search the title in Google to avoid the pay wall.)

U.S.Loses High-Tech Jobs as R&D Shifts Toward Asia (January 18, 2012)
“The U.S. is rapidly losing high-technology jobs as American companies expand their research-and-development labs in China and elsewhere in Asia, the National Science Board said Tuesday.”
http://online.wsj.com/article/SB10001424…

I think the bottome line is, you can get [...]

Men Ride Horses Into Bar, SAFEWAY, STARBUCKS, Before Being Tasered By Police

A man on a horse pays for an item at the Safeway in Steamboat Springs (credit: CBS)

STEAMBOAT SPRINGS, Colo. (CBS4) – There was a crazy ride in Steamboat Springs. Three people took their horses to Starbucks and Safeway.

All three galloped into a Safeway on Sunday.

The riders scared shoppers and clerks. That came after they decided to ride into a local bar.

The U.S. Postal Service Nears Collapse

Delivery of first-class mail is falling at a staggering rate. Facing insolvency, can the USPS reinvent itself like European services have—or will it implode?

 

By Devin Leonard

Phillip Herr looks like many of the men who toil deep within the federal government. He wears blue suits. He keeps his graying hair and mustache neatly trimmed. He has an inoffensively earnest manner. He also has heavy bags under his [...]

JUMBO JET: Obese Pair Told To Buy 4 Seats On Flight

NEW YORK (CBSNewYork) — Southwest Airlines has apologized to a mother and daughter who said they got rough treatment at the airport.

Kenlie Tiggeman, a 30-year-old political strategist and weight loss blogger in New York City, said it was humiliating, being told she was too fat to fly, reports CBS 2’s John Slattery.

“It was rude. It was in front of lots of people,” said Tiggeman, who’s originally from New [...]

Gold Will Get Crushed Within Weeks

by traderjoe

It is always possible that gold and silver decline in price if there is a widespread market decline as margin clerks sell what they can. But is also possible – and more likely IMHO – that PM’s hold steady or rise as people realize the fiat endgame is near. Eventually all PM’s will decouple from paper assets as individuals look for some tangible form of wealth. The size of [...]

Gerald Celente: Now We're Headed For The GREATEST Depression

This guy makes my blood boil! I like it! Thumbs up! The doom boom society and the bailout nation is upon us all! The greatest depression is upon us all! Just throw out some bread and a housing application right? Right on America! It is simple to live in the truth, just tell folks that we are doomed and that there is no way for the tax payer to fundamentally [...]

I have to admit that even though I am making more money today than most days, I am not happy about it.

Making money because I shorted the market is not a happy thought because it means a lot of people are miserable and I don’t mean “bulls.”

Workers: Teachers, factory workers, clerks, small business employees, construction workers, etc. are going to suffer because of what the developed nations have done for decades. By basing policies on flawed economic and monetary principles the banksters told both parties would create more than normal growth, [...]