Gold hit $1000 per ounce today -- a new record. The dollar now costs over 100 yen (first time since the 1970's). The Euro continues its rise. Oil hit over
*as of the end of the day on Thu 3/13
The credit crisis has claimed another victim.
"Carlyle Capital Corp. said late Wednesday it expects its lenders will seize its assets, causing the likely liquidation of the fund, which until recently owned $21.7 billion in mortgage securities.First of all -- this is a huge collapse, and probably just the start of some more dominos. Second what makes this very interesting -- is that Carlyle Capital is part of Carlyle Group --- which of course has George H.W. Bush, among other prominent Republican greed-mongers, as partners and board members. How will sonny-boy's government react to the collapse of daddy's hedge fund.
"Although it has been working diligently with its lenders, the Company has not been able to reach a mutually beneficial agreement to stabilize its financing," the fund said in a statement.
The fund's likely collapse would be a major black eye for Carlyle Group, the powerful Washington-based private-equity firm whose executives own 15% of the fund.
Though it's registered in Guernsey, U.K., and trades in Amsterdam, Carlyle Group runs Carlyle Capital out of its New York offices. Early Thursday in Amsterdam, the shares plunged 70% to $0.83 each. The stock has lost around 83% since the company first disclosed its funding problems last week."
While we all know the Bush family will not suffer one iota financially -- a lot of people connected to the Bush family via the Carlyle Group (including the Saudi Royal family) stand to lose million$ unless sonny-boy does something. Stay tuned. I will try and update
Oh and the Scumbag-in-charge is going to veto the current FISA (lets legalize spying on Americans) bill. And he whined LOUDLY about it at a quickie press conference today.
I hate him more each day.
oh and this 3/13/08 --- BAGHDAD - A parked car bomb exploded in a commercial district of central Baghdad Thursday, killing 18 people and wounding dozens more.
because despite the fact a war is raging in Iraq -- it is going well over there and the of course, the surge is working.
Posts
37 comments:
Think of this, DCap.
If Hillary robs Obama of the nomination, she will get her ass handed to her by McCain. Her negatives are well above 50% and many on the left are pledging to either sit out the General Election or vote for McCain in protest if she is the nominee.
That said, Speaker Botox's strategy of not ordering the Articles of Impeachment at the beginning of 2007 so to not rock the boat will have been not only a flawed strategy, but enabling.
Christopher, I wish we Democrats could vow to get behind whichever candidate wins the nomination.
Instead of Obama considering Hillary a worthy sparring partner who's strengthening him for the shitstorm that awaits him from the GOP, his acolytes are doing neither him nor the party any favors by eviscerating Hillary at every opportunity.
Speaker Pelosi has explained how a simple (tiny) majority works. Without a Democratic majority of around 60 percent, GOP filibustering could have rendered this session of the House of Representatives one long, dull poetry slam.
If Hillary by some chance wins the nomination, it's because she won, not because she stole anything.
And if anyone is vetted against the GOP slime machine, I think the Clintons have demonstrated their streetfighting abilities.
Obama? Not so much.
Back on the topic of D-Cap's post:
Bush's latest line o' crap is that history will judge his presidency. I think he actually believes that time will prove that his war in Iraq and abysmal economic policies will somehow be vindicated.
His delusional thinking is a classic example of a grandious dry drunk. His brain is damaged from too many decades of drinking and drugging, and it's never coming back.
Sometimes I really wish I could see it all crumble at their feet, but I realize how many people at the bottom will suffer at the expense of the wealthy.
Good Post D-Cap. I find it absolutely amazing that sonny boy allowed the Carlyle Group to hit the wall. Amazing!
What Kevin said -- I know it's sick to want to see this whole empire crumble into anarchy, but it's like waiting for the inevitable: sometimes you just want to get it over with already.
I'm sure the massive govt bailouts that Carlyle will likely get (under the table, of course) from Chimpy will strengthen the economy even more!
So, do you have any recommendations for where to stash my 401K investments?
That parked car bomb wouldn't have exploded if FISA wasn't so weak. Why can't you people see that!
I wrote politically today, you might be rubbing off.
Karenzipdrive,
I wish I'd been born a Kennedy with a $10 million dollar trust fund, but it wasn't in the stars. Any chance of a Democratic kumbaya moment has long passed. The "vetted" Bill and Hillary Clinton have burned too many bridges with too many groups -- especially, with African Americans. Siccing Geraldine Ferarro, AKA, the Klan seamstress on Barack Obama, was the final nail in the coffin.
Karen, I'm with you. Whichever Democrat wins is a better choice than McConJob. Those on both sides who foolishly attempt to drive the two camps further apart are doing the work of the GOP.
It's interesting to note that the Carlyle Group, recognizing the long term outcome, spun off Carlyle Capital while sub-prime lending was still going strong to insulate the main company from the seizure of assets that has come.
You know what FUCKING SUCKS.
All you fucking baby boomers got it, and now my fucking generation gets the shit end of the fucking stick.
Apathy my fucking ass.
THANKS A WHOLE FUCKING LOT.
I think I just blurted out my next blog post. Regardless or weather or not its correct, thats how it feels.
Like wern't these people suppose to PROVIDE for us, not just a fucking nation, the children of the fucking nation.
Dude, I gotta stop, I'm about to give myself a fucking coronary.
So does Crysler closing down for a couple weeks have anything to do with all this? And also, what was with the headlines yesterday saying that like only 28% of the people even care about Iraq and are not aware of the GI death toll? Is this true? My God, if this is true I don't know about amerika anymore. Also, been receiving alot of emails saying that the resignation of Fallon is an indicator of an attack on Iran. anyone?
Freakin scary, I hate this.
Crystler. too many paint fumes here.
every time I turn on the radio or computer to catch up on the news I just get totally bummed out. Attack Iran, WTF? Oil prices continues rising higher and higher. More people dead in Iraq and in the Middle East all over. Our economy going down the toilet. AB, I care. I have kids your age and I give a fuck what happens to them and right now it looks like all of us have scary futures thanks to that piece of shit who stole the presidency not once but twice!
The days of thinking it can't get any worse are over. I won't be surprise by anything anymore because I think it's going to get really, really ugly.
Just want to note that the Carlyle Group will be fine, it is Carlyle Capital, a publicly traded corporation, that may go belly up, so Poppy is fine. That said, what's really scary is that Carlyle Capital apparently held investments in paper allegedly backed by AAA mortgages--that is, not the subprime shit. Now that is scary.
So, like, what are we going to do? they are flipping out over at Common Dreams also. We need a plan.
THE Carlyle Group WON't suffer! That's because the snakes spun off this subsidiary to dangle to the public as a way to kind of buy into their little, devious investment club, & then they pawned off all of their subprime loans into it, leaving the little people SOL & them laughing all the way to Kenebunkport..
Each day I watch the market and wonder where the hell this is all going. Absolutely no light at the end of this darkness. It's a hell of way to start the day when you awake wondering how much money you are going to be losing today.
Sometimes I wonder why any of the candidates would want the job of driving this freight train heading for hell.
Just when I decided to get back into the workforce, the whole economy goes into the toilet...and no jobs out there. Sheesh.
I keep hearing my mother-in-law's words..."this reminds me of how it was right before the depression".
Lib, I know you care, as do the majority of said baby boomers I was venting about, however, the ones in office don't. Their kids are pretty much set for life because of old and new money and the securities their parents have set forth for them. Do you think they were raised to care about the middle man?
I highly doubt it.
D-Cap, you've been spot-on about the economy.
Marjorie, I think Fallon's resignation is an ominous sign. Remember, Bush wants to bomb Iran to help Jesus come back. Part of his "legacy." Be afraid.
Okay guys, I have to take off today, but the dummy is going to make an announcement at 11:00, and headlines yesterday were that the EURO is more in demand than ever in Latin America,plus this liquidity thing this morning, so come on DCap, don't wanna stress you out, but we (at least here) are waiting on pins and needles to get the lowdown. I swear to god, even my Mex neighbors are saying, "what does the dcap say?"
I'd tell you guys to come here, the prices are going to drop drastically on beach houses, but it's pretty FUBAR .
Angry Ballerina, isn't a little different over there in England? I mean, there's always been a real defined class system ???
I will say this, if any of you have FERS, get it out of common stock (C Fund) and put it in the government securites (Gfund) if you haven't already and before the government imposes some restriction on you being able to move it.
Christopher,
The Geri Ferraro thing is bullshit. She's got a solid record of political inclusiveness and liberal politics.
Obama's camp needs to stop seeing racism around every corner. It's making him seem too fucking touchy, and giving the GOP slime machine a user's manual on how best to push his buttons.
I just got pissed off all over again.
Um, Dr. Z, I live in the states.
Issues of class folks. Upper, upper class to be exact. Not race and not gender.
Excellent post.
Quick correction, D Cap. The dollar now costs LESS than 100 yen, and it happened last in 1994 according to this website.
http://www.oanda.com/convert/fxhistory
It looks like the Swiss franc will close at more than a dollar this week, and that is for the first time in history. When I was a kid, it was at about 20 to 25 cents.
Even if we turn off the fans, the shit is going to hit something.
dude,
email me.
got a proposition for ya.
skippy
Sorry angry ballerina I thought you lived in England. Jeez. I don't know why I thought that.
I think anonymous might have it right about the Carlyle group thing-the "real" Carlylites are laughing right now. Perhaps?
And now Bear Stearns has to be bailed out. I wonder when it will all end.
There is a Truro England.
I actually take that as a compliment.
Shit, and I thought you were Dr. Z, both of your avatars look kinda similar, and I don't pay attention. My bad.
Yea AB, Truro, weren't you living there? I'm really confused what's new. I've been there.
Post a Comment