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IDMI @$2.54; +64%. JMHO: $7.00 to $10+ on buyout of company. See press releases. GLTA
<<was 5 P/S their estimate?>> RnR's? their current est. is $1.60, but should be upgraded shortly with todays upgrade.
Remember Pam Bassett had an $11 p.t., but I think that was dependent on IDM receiving FDA approval (and/or EMEA approval).?
$3.53 projected IDM share price per RnR!?!
"Rodman & Renshaw analyst Reni Benjamin said a partnership is likely upon approval and named privately held Sigma-Tau S.p.A. as a potential suitor.
"Very rarely do we see these regulatory agencies go against the opinion of the panel, so I would expect approval," analyst Benjamin said.
Benjamin, who upgraded the stock to "market perform" from "market underperform," said about $10 million to $20 million in worldwide revenue is a reasonable expectation, but CEO Walbert declined to comment on the revenue expectations."
So RnR says $20M rev tops. $20M x 5 (revs)= $100M market cap.
$100M div by 28.35 shrs outstanding= $3.53 projected IDM share price per RnR!?!
Comments?
Approval might not come until February or March 2009. "That view will be adopted at the committee's next meeting, in December, and IDM expects the drug to receive full approval 60 to 90 days later."
IDM Pharma Inc. said Tuesday that regulators recommended its osteosarcoma drug mifamurtide be approved for sale in the European Union, and IDM stock surged in morning trading.
Related Quotes
Symbol Price Change
IDMI 2.60 +1.05
IDM said the European Medicines Agency's Committee for Medicinal Products for Human Use recommended approval for the drug. That view will be adopted at the committee's next meeting, in December, and IDM expects the drug to receive full approval 60 to 90 days later.
Shares of the Irvine, Calif., company climbed a dollar, or 64.5 percent, to $2.55.
Mifamurtide will be marketed in Europe under the name Mepact. The drug treats a rare form of bone cancer that most often affects children and young adults, and IDM said it is the first new osteosarcoma treatment to reach the market in more than 20 years.
Because of the rarity of the disease, IDM has received a market exclusivity period of 10 years, which means the EMEA won't approve rival versions of the drug for a decade.
The drug is designed to treat tumors in patients with osteosarcoma that has not metastasized and can be removed through surgery.
IDMI. IDM Pharma Receives Recommendation for Approval of Mifamurtide (MEPACT(R), L-MTP-PE) for the Treatment of Patients with Non-Metastatic, Resectable Osteosarcoma in Europe from the Committee for Medicinal Products for Human Use (CHMP)
Tuesday November 18, 7:30 am ET
IRVINE, Calif., Nov. 18 /PRNewswire-FirstCall/ -- IDM Pharma, Inc. (Nasdaq: IDMI - News) today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMEA) has issued a positive opinion, recommending grant of a centralized marketing authorization for mifamurtide (L-MTP-PE), known as MEPACT® in Europe, for the treatment of patients with non-metastatic, resectable osteosarcoma, a rare and often fatal bone tumor that typically affects children and young adults. The CHMP recommendation will be adopted at the next CHMP meeting in December with final European Commission approval expected within 60 to 90 days thereafter.
Granting of the centralized marketing authorization will allow L-MTP-PE to be marketed in the 27 Member States of the European Union (EU), as well as in Iceland, Liechtenstein and Norway. L-MTP-PE would be the first approved new treatment in more than 20 years for patients with osteosarcoma. L-MTP-PE was granted orphan medicinal product status in Europe in 2004. Therefore, under European pharmaceutical legislation, L-MTP-PE is entitled to a period of 10 years market exclusivity in respect of the approved indication.
"The recommendation for approval by the CHMP is a great victory for many young patients and their families and is a significant step for the Company in bringing this important treatment to market," said Timothy P. Walbert, president and chief executive officer, IDM Pharma. "The Committee's decision validates the clinical trial data and the belief of investigators, patients and IDM Pharma that L-MTP-PE provides a significant overall survival benefit for osteosarcoma patients and meets a significant unmet treatment need."
The positive opinion was based in large part on the Phase 3 L-MTP-PE trial (INT-0133), a National Cancer Institute (NCI) funded cooperative group study conducted by the Children's Oncology Group (COG) and the largest study completed in osteosarcoma, enrolling approximately 800 patients. The study was designed to evaluate patient outcomes with the addition of L-MTP-PE to three- or four-drug adjuvant chemotherapy (cisplatin, doxorubicin, and methotrexate with or without ifosfamide).
Overall survival after six years of follow-up in patients treated with chemotherapy and L-MTP-PE was 78 percent, compared to 70 percent in patients treated with chemotherapy (p=0.03) alone. The addition of L-MTP-PE to chemotherapy resulted in approximately a 30 percent decrease in the risk of death.
Treatment with L-MTP-PE was generally well tolerated in all phases of clinical development. Adverse events were mild to moderate in severity and included chills, fever, nausea, vomiting, myalgia, headache, tachycardia (fast heart rate), hypo- and hypertension, fatigue and shortness of breath, all of which are consistent events with the activation of monocytes and macrophages by L-MTP-PE and the flu-like symptoms that follow cytokine release. These side effects are readily prevented or treated with acetaminophen.
If approved by the European Commission, it is anticipated the Company would conduct certain post-authorization studies or analyses to address follow up questions about L-MTP-PE.
L-MTP-PE U.S. Regulatory Status
As previously announced, in the United States the Company continues to work with the COG as well as external experts and advisors to gather patient follow up data from the Phase 3 clinical trial of L-MTP-PE and to respond to other questions in the non-approvable letter the Company received from the U.S. Food and Drug Administration (FDA). The Company expects to submit the amended New Drug Application (NDA) in the first quarter of 2009 given the recent focus on completing review activities for the Marketing Authorization Application (MAA) in the European Union.
L-MTP-PE was granted orphan drug status in the United States in 2001 and the NDA was submitted to FDA in October 2006 and was accepted for review in December 2006.
IDMI. IDM Pharma Receives Recommendation for Approval of Mifamurtide (MEPACT(R), L-MTP-PE) for the Treatment of Patients with Non-Metastatic, Resectable Osteosarcoma in Europe from the Committee for Medicinal Products for Human Use (CHMP)
Tuesday November 18, 7:30 am ET
IRVINE, Calif., Nov. 18 /PRNewswire-FirstCall/ -- IDM Pharma, Inc. (Nasdaq: IDMI - News) today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMEA) has issued a positive opinion, recommending grant of a centralized marketing authorization for mifamurtide (L-MTP-PE), known as MEPACT® in Europe, for the treatment of patients with non-metastatic, resectable osteosarcoma, a rare and often fatal bone tumor that typically affects children and young adults. The CHMP recommendation will be adopted at the next CHMP meeting in December with final European Commission approval expected within 60 to 90 days thereafter.
Granting of the centralized marketing authorization will allow L-MTP-PE to be marketed in the 27 Member States of the European Union (EU), as well as in Iceland, Liechtenstein and Norway. L-MTP-PE would be the first approved new treatment in more than 20 years for patients with osteosarcoma. L-MTP-PE was granted orphan medicinal product status in Europe in 2004. Therefore, under European pharmaceutical legislation, L-MTP-PE is entitled to a period of 10 years market exclusivity in respect of the approved indication.
"The recommendation for approval by the CHMP is a great victory for many young patients and their families and is a significant step for the Company in bringing this important treatment to market," said Timothy P. Walbert, president and chief executive officer, IDM Pharma. "The Committee's decision validates the clinical trial data and the belief of investigators, patients and IDM Pharma that L-MTP-PE provides a significant overall survival benefit for osteosarcoma patients and meets a significant unmet treatment need."
The positive opinion was based in large part on the Phase 3 L-MTP-PE trial (INT-0133), a National Cancer Institute (NCI) funded cooperative group study conducted by the Children's Oncology Group (COG) and the largest study completed in osteosarcoma, enrolling approximately 800 patients. The study was designed to evaluate patient outcomes with the addition of L-MTP-PE to three- or four-drug adjuvant chemotherapy (cisplatin, doxorubicin, and methotrexate with or without ifosfamide).
Overall survival after six years of follow-up in patients treated with chemotherapy and L-MTP-PE was 78 percent, compared to 70 percent in patients treated with chemotherapy (p=0.03) alone. The addition of L-MTP-PE to chemotherapy resulted in approximately a 30 percent decrease in the risk of death.
Treatment with L-MTP-PE was generally well tolerated in all phases of clinical development. Adverse events were mild to moderate in severity and included chills, fever, nausea, vomiting, myalgia, headache, tachycardia (fast heart rate), hypo- and hypertension, fatigue and shortness of breath, all of which are consistent events with the activation of monocytes and macrophages by L-MTP-PE and the flu-like symptoms that follow cytokine release. These side effects are readily prevented or treated with acetaminophen.
If approved by the European Commission, it is anticipated the Company would conduct certain post-authorization studies or analyses to address follow up questions about L-MTP-PE.
L-MTP-PE U.S. Regulatory Status
As previously announced, in the United States the Company continues to work with the COG as well as external experts and advisors to gather patient follow up data from the Phase 3 clinical trial of L-MTP-PE and to respond to other questions in the non-approvable letter the Company received from the U.S. Food and Drug Administration (FDA). The Company expects to submit the amended New Drug Application (NDA) in the first quarter of 2009 given the recent focus on completing review activities for the Marketing Authorization Application (MAA) in the European Union.
L-MTP-PE was granted orphan drug status in the United States in 2001 and the NDA was submitted to FDA in October 2006 and was accepted for review in December 2006.
PALO ALTO INVESTORS, 10,089,228 shrs IDM; +2,666,819; +35.93% Q3-2008
IDMI Q3-2008 Institutional holdings- partial list. Source: nasdaq.com
PALO ALTO INVESTORS,... 9/30/2008 10,089,228 2,666,819 35.93% $17,152
RENAISSANCE TECHNOLO... 9/30/2008 674,400 64,200 10.52% $1,146
DIMENSIONAL FUND ADV... 9/30/2008 347,882 11,524 3.43% $591
CREDIT AGRICOLE S A 9/30/2008 133,384 0 0.00% $227
NORTHERN TRUST CORP 9/30/2008 93,943 18,100 23.87% $160
still nice +35%, +$0.75 move on friday for CNO. It was a good call friday a.m. sideshow.
made a mistake: Investment loses in BILLIONS, not millions for CNO, yikes!
<<Investment loses in: 07' $1.1B; 06' $1B; 05' $1.5B.
Need to know why investment loses over three years which is effecting profitability of this company.>>
Happy friday. CNO @$2.84, 11/4/08. Was > $8.00 3 mo's ago.
Book value: $18.47 shr. Insurance, sweet.
Strong institutional ownership @102%, from Q2-2008. Need to see Q3-2008 holders after huge pps drop.
$2B debt, $561M cash, $3.04/share.
-14.5% Q growth. I could not find out who the CEO is on Yahoo.
Investment loses in: 07' $1.1M; 06' $1M; 05' $1.5M. Who is running this ship? Need to know why investment loses over three years which is effecting profitability of this company. Comments?
IDMI @ about $1.75. CHMP (Europe) meeting week of the 17th-21st in November.
IF, if approval, IDMI somewhere between $5.00 to $7.50. JMHO.
The company has apparently been sold and pps at sale to determined by approval or non-approval (many key executives are working "part-time" at IDM and at new company Horizon).
Do your own DD. I am long IDM.
GLTA
Week of the 17th-21st. Not before nor after. from cybear on Yahoo IDM mb.
2009 world wide economic down turn. http://stockcharts.com/h-sc/ui?s=%24bdi Baltic Dry Index. Cost of renting a ship waterfall down.
Callidus Software Announces Third Quarter 2008 Results
Tuesday October 28, 4:01 pm ET
Strong Total Revenues $28.3 Million; Recurring Revenues $10.9 Million, Up 83% Year Over Year; Callidus On-Demand Payees Over 73,000, Up From 23,000 One Year Ago
SAN JOSE, CA--(MARKET WIRE)--Oct 28, 2008 -- Callidus Software Inc. (NasdaqGM:CALD - News), the leader in Sales Performance Management (SPM), today announced financial results for the third quarter ended September 30, 2008.
Total third quarter revenues were $28.3 million, up 14% compared to the third quarter of 2007. Third quarter 2008 license revenues were $6.8 million, while third quarter services and other revenues were $10.6 million.
Subscription and support revenues for the third quarter were $10.9 million, an increase of 83% over the third quarter of 2007. The net new Annual Contract Value (ACV) of on-demand bookings in the third quarter was $1.3 million, down from $2.6 million in the third quarter of 2007, bringing the cumulative ACV to $24.8 million.
Third quarter GAAP net loss was $1.4 million or ($0.05) per share, which included $2.0 million of stock-based compensation expense and $500,000 of amortization of acquired intangible assets. This compares to net loss of $4.0 million, or ($0.14) per share, for the third quarter of 2007, which included $1.2 million of stock-based compensation expense and no amortization of acquired intangible assets.
Non-GAAP net income, which excludes stock-based compensation expense pursuant to SFAS 123(R) and amortization of acquired intangible assets, was $1.1 million for the third quarter of 2008, compared to a non-GAAP net loss of $2.8 million for the same period last year.
Cash and investments totaled $45.7 million at September 30, 2008, a decrease of $3.0 million from June 30, 2008.
"Against the background of the most challenging economy in recent history we delivered strong quarterly revenues because we provide the market-leading solutions to properly address the fundamental business problems of sales performance and incentive compensation management. Pay-for-performance and end-to-end visibility of incentives and their effects has never been more important," said Leslie Stretch, president and CEO at Callidus Software. "I am also especially pleased that our continued focus on profitability has resulted in Callidus achieving a non-GAAP profit this quarter. We continue to add world-class brands to our customer roster in both our on-demand and on-premise businesses. Our subscription and support recurring revenues were a significant contributor to our total revenue and margin performance."
Recent Business Highlights
-- Callidus added approximately 10,000 payees to its Callidus On-Demand
service, bringing the cumulative total to over 73,000 payees, up from
23,000 one year ago.
-- Callidus launched Callidus Plan Communicator, a product built natively
on Salesforce.com's platform-as-a-service, Force.com, to help companies
streamline the compensation plan distribution and approval process.
-- Callidus received a Positive rating in Gartner's 2008 Sales Incentive
Compensation Management MarketScope report.
-- Callidus won CRM Magazine's 2008 CRM Market Leader award for the
Incentive Management category.
-- Callidus hosted its first EMEA thought leadership Sales Performance
Management conference.
-- Callidus announced an expanded partnership with OpenSymmetry to deploy
and implement Callidus' on-demand and on-premise solutions, expanding
market coverage for Callidus' solutions.
Financial Outlook
-- Total revenue for the fourth quarter of 2008 is expected to be between
$25.5 million and $27 million.
-- GAAP Operating expenses, including stock-based compensation of
approximately $2.0 million, are expected to be between $14.5 million and
$15.5 million in the fourth quarter of 2008.
The fate of IDM is event driven. EMEA approval or non-approval sometime in 2008 (hopefully- no more delays) will determine the pps. Besides waiting for the outcome, there is not much to say or do right now. Most of us have a lot at stake in IDM, me included, and waiting on pins and needles is not much fun. I pray for us, and the cancer patients that could be helped with these drugs, the outcome is positive. GLTA
OT- Sputtering Cell Genesys firing most employees- CEGE
Bernadette Tansey, Chronicle Staff Writer
Friday, October 17, 2008
(10-16) 18:34 PDT -- Cell Genesys Inc., a 20-year-old Bay Area biotechnology company that has yet to win its first drug approval, said Thursday that it is firing most of its employees and considering a sale or merger after canceling work on its lead product.
The South San Francisco company said it is halting a second late-stage clinical trial of its experimental therapy GVAX in prostate cancer because an independent committee of experts concluded it was unlikely to deliver positive results.
Shares in the company plunged 72 percent to close at 17 cents. But a tougher blow had already fallen on investors in late August, when the same expert committee called for an early end to a related trial due to safety concerns. The committee found that GVAX-treated prostate cancer patients in that trial were dying at a higher rate than those given a different treatment. On Aug. 27, Cell Genesys shares lost $2 to close at 78 cents.
CEO Stephen Sherwin said the company has since found no evidence that the GVAX regimen carried toxic effects that could explain the additional deaths.
"We don't have all the answers," Sherwin said during a conference call with analysts Thursday.
Cell Genesys is among a long line of companies that have tried in vain to produce successful cancer immunotherapies, which are also called cancer vaccines. The drugs are designed to activate the immune system to recognize cancer cells and destroy them. Among the other recent casualties in the field is Genitope Corp. of Fremont, which said last month it might file for bankruptcy protection.
Cell Genesys, founded in 1988, was trading above $50 in 2000 as biotech companies benefited from excitement over the Human Genome Project. But the luster of cancer vaccine companies dimmed as success eluded them. The field shared a collective flutter in April 2007, when Dendreon Corp. of Seattle came close to winning Food and Drug Administration approval of its experimental prostate cancer treatment Provenge. But the FDA decided to wait for further trial data on Provenge. Dendreon reported favorable interim data this month on the new trial, and expects full results by mid-2009.
Cell Genesys had been Dendreon's closest rival. The company is now mulling plans with its research partner on the GVAX program, Takeda Pharmacetical Co. Ltd. of Japan. Sherwin said researchers at Johns Hopkins may still proceed with their own trials of GVAX for leukemia and pancreatic cancer.
"Personally, I have not lost my conviction about the potential of the GVAX platform or active immunotherapy in general," Sherwin said on the conference call. He said the disappointing results in the two large GVAX trials may have stemmed from factors other than the treatment itself.
In the meantime, however, Cell Genesys is letting go 75 percent of its 290 employees, with more cuts to come next year. It still has an early stage research collaboration with Novartis. But among the employees leaving this month is the company's chief medical officer, Robert Dow. "Cell Genesys may face developmental stagnancy with the failure of GVAX prostate," said Needham & Co. analyst Mark Monane in a research note.
Cell Genesys expects to end the year with $128 million in cash. Biotech companies whose own products fail can often merge with a cash-strapped firm whose experimental drugs hold more promise. In a filing with the Securities and Exchange Commission on Thursday, Cell Genesys said it is considering new research directions, mergers, acquisition by another company, sale of company assets and liquidation.
E-mail Bernadette Tansey at btansey@sfchronicle.com.
This article appeared on page C - 1 of the San Francisco Chronicle
www.sfgate.com
CALD +15% to $3.54. About 500K share block buy at about $2.70 today, 10/10/08. Good to see some institutional investor showing confidence in CALD! JMHO.
Re: UAUA's oil hedging. Does anyone know for how much and at what prices UAUA hedged it's oil futures? Someone at CNBC's Fast Money said UAUA hedged it's oil futures in the $115's?!? Today, 8/10/08 oil is at about $80.
Brightpoint will use Synchronoss's ConvergenceNow(r) software platform as part of this solution to provide online activation of AT&T wireless services.
Brightpoint Enters Into Online Activation Master Dealer Agreement With AT&T
Thursday October 9, 8:30 am ET
PLAINFIELD, Ind., Oct. 9, 2008 (GLOBE NEWSWIRE) -- Brightpoint, Inc. (``Brightpoint') (NasdaqGS:CELL - News) today announced that its subsidiary Brightpoint Activation Services LLC (``Brightpoint') has entered into an agreement whereby Brightpoint will act as an Online Master Dealer for AT&T. Under the terms of the agreement, Brightpoint will enable its approved customers the ability to offer and sell wireless services from AT&T via its end-to-end integrated online activation solution.
Brightpoint will use Synchronoss's ConvergenceNow(r) (NasdaqGM:SNCR - News) software platform as part of this solution to provide online activation of AT&T wireless services. The Nokia USA site will be one of the first clients to utilize the program with AT&T.
``Brightpoint has developed a world class online activation service program for our customers,' said J. Mark Howell, President of Brightpoint Americas. ``The ability to provide AT&T wireless services is a very significant addition to our online program.'
IMO this is huge for SNCR. Any comments- anyone?
Thanks for that JT! Comments on GNK @$18.80, 19.9% div.?
OKS @$42. 9.6%, Limited Partnership payout. Most tax "free." Example of the "madness" in the market right now.
$crb chart. http://stockcharts.com/h-sc/ui
DNN @ $1.87; CDE @ $1.14; AUY @ $6.22.
Any comments on the airlines: UAUA and DAL?
7286 was 2002 Dow low.
re-post. level 3 assets. phase 3 of credit crunch. coming 11/15/08.
http://www.themoneyblogs.com/urbandigs/my.blog/level-3-assets-credits-next-concern.html
Any comments on this. Anyone think that the Dow @ 9447 (can it hold here?) and the specter of level 3 assets are related?
Dow @ 9447. If it can not hold here, next is about 8000.
Looking at $INDU monthly chart: support at 10,000 (3/05);
about 9,700 (10/04, this is a huge support area);
if 9700 support breaks 8,000 (7/03) to 7,500 (Q2-03).
These are all general support levels, + or - 100's of points.
Brain cancer suspect: Common Virus. By Justin Berton. S.F. Chronicle 10/6/08.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/10/06/MNJ8135E2I.DTL&hw=berton&sn=001&sc=1000
or go to www.sfgate.com and search Berton.
McK. We could be in a primary bear market right now. The crashing of the Transportation Avg. just confirmed with the Dow leading the way down. Probably to late sell.
I know you said 401K. All I can share with you is buy 1 oz. gold coins, especially if you have kids, or plan to have them. Best place I have found is www.bulliondirect.com. I suggest gold coins over gold stocks (GLD) because people tend to hold on to their gold coins over long periods of time, not trade a stock. Also you actually hold the metal, which in the end, is where the rubber meets the road.
Put them in the safe deposit box and forget about them. No need to buy all at once, deflation could temper the price of gold in the near term. Long term, 5, 10, 15, 25 years (again, this is for the kids!), gold should be much higher than about $850 oz.
JMHO, GLTU
OT- Personal from Bow. My cousin's son, Bobby, 22, in Wisconsin, passed away this weekend from brain cancer. He was buried today. He had fought an incredibly long and difficult battle with this disease, enduring many operations and chemo treatments.
I pray to God that the authorities in the EU and US wake-up and as soon as possible and approve mifamurtide and other products in the family of immunotherapeutic agents designed to destroy residual cancers cells by activating the body's natural defenses. I realize mifamurtide was developed for osteosarcoma, but perhaps it will turn into the broad based product platform projected for it and fight other cancers, especially in young people. Another sad day in this ongoing saga of delay after delay for approval for these new treatments for cancer.
PAI over 11M shares of IDM, 42% of float. http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5899351
from cybittermn on Yahoo IDM mb.
Looking at $INDU monthly chart: support at 10,000 (3/05);
about 9,700 (10/04, this is a huge support area);
if 9700 support breaks 8,000 (7/03) to 7,500 (Q2-03).
Holding above around 9,700 is the key right now.
These are all general support levels, + or - 100's of points.
IDMI @$2.53. EMEA (EU) decision in Q1-2009 (not Q4-08), with review in November '08. Now we wait another four to five months.
from tzm (partial):
<<This update has a lot of very good news but most investors were looking for the ultimate news of approval and so things are tempered by that.
Most of my limited brain power this morning has been going towards making a pot of coffee but what's left has me asking, why not approval then? I mean reliable data, no more CMC questions, and a positive benefit/risk assessment; what other questions could they have?
My read on things is that the CHMP wants to cover EVERY possible detail before it makes a ground breaking approval of the first immunotherapeutic oncology drug. This is a very big deal because it will be the first drug that uses the patients own immune system to attack the cancer. Not only is MTP a revolutionary new treatment option (which always faces opposition, i.e. Maha Husain) but it is also mired in questions because of previous application misteps and years of the data sitting in storage.
I go back to this L-MTP-PE story of the data never getting analyzed until many years after the completion because it is my belief that the scientific/regulatory world is a little bit shocked that something so important to thousands of sick children could have sat in storage for years. The consequence of this is that IDM is having to jump through many flaming hoops in order to get anybody to listen.
The FDA had already made up their minds before IDM even stepped in front of the ODAC panel and this combined with a sloppy application made Junovan an easy target for rejection. Walbert has learned from his predecessors mistakes and he is jumping through the EMEA flaming hoops with agility and determination.
No matter what happens, Walbert has done a hell of a job at getting the EMEA to listen and he is a very respectable champion of so many children who have randomly been dealt such an unjust hand.>>
The Hegelian Principal: Thesis, Antithesis and Synthesis. In English: Problem, Reaction and Solution. Secretly create a problem, the general population reacts with fear, and the solution is to transfer power to those who originally created the problem.
WM application: So this bank which is over 100 years old is gone. Over 43K employees. There are two WM offices within five of where I live. What is going to happen to all these people? I knew WM was in trouble when I went to my dentist on Tuesday and he said he pulled all of his money from his WM account. Prayers to the employees of WM. I never thought I would see WM go down like a sick dog. "Strange days have found us." Jim Morrison
The Hegelian Principal: Thesis, Antithesis and Synthesis. In English: Problem, Reaction and Solution. Secretly create a problem, the general population reacts with fear, and the solution is to transfer power to those who originally created the problem.
WM application: So this bank which is over 100 years old is gone. Over 43K employees. There are two WM offices within five of where I live. What is going to happen to all these people? I knew WM was in trouble when I went to my dentist on Tuesday and he said he pulled all of his money from his WM account. Prayers to the employees of WM. I never thought I would see WM go down like a sick dog. "Strange days have found us." Jim Morrison
thanks for that post tzm.
re-post: "A desperate plan to buy distressed assets from banks tipped the U.S. into an era of privatized profits and socialized losses, but this mother of all bailouts managed for now, to halt the frightened flight of funds from the U.S." Kopin Tan, "The Trader," page M3, Barron's 9/22/08.
Bow's worthless comment: So the investment banks, banks and others created these derivative instruments (credit default swaps, mortgage securities et. al.), probably made tens of billions and now the U.S. taxpayer is going to support these derivative instruments to the tune of $700B (probably over $1T after the dust settles).
from S.F. Chronicle, 9/21/08, page A12:
"He said the government is HOPING that if it buys bad loans from banks, they will use the money to make more home, business and consumer loans."
***"The Treasury proposal does NOT require institutions that take government money to use it to make loans. They could use it to make acquisitions, bolster their capital, raise executive salaries or other things."***
I suggest anyone who wants to understand the implications of this incredible moment in U.S. financial history read:
"The Creature from Jekyll Island- A Second Look at the Federal Reserve" by G. Edward Griffin, American Media, P.O. Box 4646 Westlake Village, CA 91359, 800-595-6596.
Then you would know the answer as to why the U.S. Government does not print it's own money, instead of selling bonds which the U.S. taxpayer has to pay interest on (to the banks!) and allowing the Federal Reserve to print "dollars."
Currently the largest single Federal Government expense is the interest on the debt (paid to banks and other governments). Which in the end is why this action was taken last week by the U.S. Treasury et. al.
Paulson Bailout Plan a Historic Swindle
http://www.thenation.com/doc/20081006/greider
posted by ThatHawaiiGuy on the AIG I-Hub mb.
Paulson Bailout Plan a Historic Swindle
http://www.thenation.com/doc/20081006/greider
posted by ThatHawaiiGuy on the AIG I-Hub mb.
Paulson Bailout Plan a Historic Swindle
http://www.thenation.com/doc/20081006/greider
posted by ThatHawaiiGuy on the AIG I-Hub mb.
OT. "A desperate plan to buy distressed assets from banks tipped the U.S. into an era of privatized profits and socialized losses, but this mother of all bailouts managed for now, to halt the frightened flight of funds from the U.S." Kopin Tan, "The Trader," page M3, Barron's 9/22/08.
Bow's worthless comment: So the investment banks, banks and others created these derivative instruments (credit default swaps, mortgage securities et. al.), probably made tens of billions and now the U.S. taxpayer is going to support these derivative instruments to the tune of $700B (probably over $1T after the dust settles).
from S.F. Chronicle, 9/21/08, page A12:
"He said the government is HOPING that if it buys bad loans from banks, they will use the money to make more home, business and consumer loans."
"The Treasury proposal does NOT require institutions that take government money to use it to make loans. They could use it to make acquisitions, bolster their capital, raise executive salaries or other things."
I suggest anyone who wants to understand the implications of this incredible moment in U.S. financial history read:
"The Creature from Jekyll Island- A Second Look at the Federal Reserve" by G. Edward Griffin, American Media, P.O. Box 4646 Westlake Village, CA 91359, 800-595-6596.
Then you would know the answer as to why the U.S. Government does not print it's own money, instead of selling bonds, which the U.S. taxpayer has to pay interest on (to the banks!), and allowing the Federal Reserve to print "dollars."
Currently the largest single Federal Government expense is the interest on the debt (paid to banks and other governments). Which in the end is why this action was taken last week by the U.S. Treasury et. al.
OT. "A desperate plan to buy distressed assets from banks tipped the U.S. into an era of privatized profits and socialized losses, but this mother of all bailouts managed for now, to halt the frightened flight of funds from the U.S." Kopin Tan, "The Trader," page M3, Barron's 9/22/08.
Bow's worthless comment: So the investment banks, banks and others created these derivative instruments (credit default swaps, mortgage securities et. al.), probably made tens of billions and now the U.S. taxpayer is going to support these derivative instruments to the tune of $700B (probably over $1T after the dust settles).
from S.F. Chronicle, 9/21/08, page A12:
"He said the government is HOPING that if it buys bad loans from banks, they will use the money to make more home, business and consumer loans."
"The Treasury proposal does NOT require institutions that take government money to use it to make loans. They could use it to make acquisitions, bolster their capital, raise executive salaries or other things."
I suggest anyone who wants to understand the implications of this incredible moment in U.S. financial history read:
"The Creature from Jekyll Island- A Second Look at the Federal Reserve" by G. Edward Griffin, American Media, P.O. Box 4646 Westlake Village, CA 91359, 800-595-6596.
Then you would know the answer as to why the U.S. Government does not print it's own money, instead of selling bonds, which the U.S. taxpayer has to pay interest on (to the banks!), and allowing the Federal Reserve to print "dollars."
Currently the largest single Federal Government expense is the interest on the debt (paid to banks and other governments). Which in the end is why this action was taken last week by the U.S. Treasury et. al.