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TJG - TA info:
Stalt 650 321 7111
They open at 9am Pacific time. They can give you the OS as of yesterday afternoon.
Hope this helps.
..........al
TJG- The 30 billion AS is common, Alex held a separate number of preferred with super voting rights. The big thing to ask now is if this will run what is happenning to the O/S counts. Someone has taken this over after Alex was indicted, but they have done nothing with it. I have this on a google alert but nothing has come thru in months. A R/M in the works? Possible. If someone takes over and cleans it out and hasn't diluted the stock there was only about 150 million O/S- check the Ibox for accuracy on that. I put those there right from the TA. A clean shell with that O/S count could go somewhere on a R/M. Just stay alert and don't invest what you can't afford to lose. Best of luck.
............al
Fastone- link was in the Ibox. It was about a year ago maybe a little more. They got him for stock manipulation. And yes the SEC can indict and prosecute. Alex Kanakaris was his name. It was his second offense. He used this company as a personal ATM for years selling billions of shares and doing numerous reverse splits. AS is still 30 billion shares I believe. Not saying one can't make a few $$$ here trading, just be very careful. This company has a very bad name in the penny stock world.
I used to mod this board, but when Alex got indicted it kinda fell by the wayside and Ihub deleted me for unknown reasons. I guess because no one was interested in the stock anymore. I'm sure there are quite a few former investors that may come along and give their opinions on this company. And none will be positive I'm sure. Alex and his cronies ripped off a lot of people.
.........al
Be very careful here on thinking this shell is worth anything. When the former CEO was indicted by the SEC this company had an accumulated deficit of $90 million. There hasn't been anything done with it since so I would presume the deficit still exists. The TA is not gagged so a share update may be in order before making any decisions. GL2U
..........al
itrader, I think the company's stock is worth a lot more than .0003 even today. However as I stated earlier, the blood is flowing in the streets. Fear can bring opportunity and I hope to be in the position to take advantage. Again, it's my own personal decision and my loss if wrong.
.........al
The old Taipan saying is "buy when there is blood in the streets". I see opportunity here now, but it will take a lot more selling to realize. No, I am not happy to see a reverse split, but I will not ignore the opportunity it may well present. I seem to be in a small minority here but that hasn't dissuaded my views for the long term. I may be wrong but it is my decision.
As an aside, fwiw, Ihub admin does a lot more deleting of posts as OT than any of us. We have no recourse when the mod squad deletes whether we agree or not. Just because one's point of view disagrees with my own or anyone else's is not sufficient cause to delete a post. Some helpful hints:
1. Post about the stock or the company.
2. Don't throw barbs at another poster just because you may disagree with their point of view.
3. A little courtesy goes a long way.
My siggy says a lot about my own personal beliefs, but we do have TOU to abide by. If your post gets deleted and you feel you have been wronged, just contact admin for review.
.........al
What gives? With the RS announcement there should have been a lot more selling. Only about 1% of the OS has been traded. The day is still young. Sell sell sell. My order awaits at .0003. Is anyone listening?
.........al
Hi Basser and board, not the best of news. Seen better, seen worse. OK, so I do hope everyone is going all over the internet bad mouthing the company, inducing a lot of selling. I have a large order in to buy at .0003 and level 2 is not presently looking good to get it filled. Come on guys, let's rock and roll.
........al
More Fed Shenanigans: TILA
from Karl Denninger:
Under the radar I'm sure The Fed would like this to stay..... no dice jackasses.
First, some background: The Truth in Lending Act from 1968 gives borrowers the “right of rescission,” the ability to undo a home refinancing or home equity loan within three years of the closing if the lender did not make proper disclosures — generally of the loan amount, interest rate and repayment terms. The law makes allowances for mere mistakes by the lender, but otherwise requires strict compliance, as well it should: disclosure is the main — often the only — consumer protection in the mortgage market.
...
The Fed proposal would change all that. Citing concern over banks’ compliance costs, it would require a borrower to pay off the remaining principal before the lender gives up its security interest. That would be clearly impossible for troubled borrowers. So the Fed’s proposal would benefit the creditor who violated the law rather than the borrower, paving the way for foreclosures that otherwise could be avoided.
In short, what this means is that if the bank violated black-letter law in making a loan to you the change would require you to pay off the entire principal before you could assert your rights and remedies.
This is like requiring someone who was robbed to somehow come up with the money to repay the owner of the property that was stolen before the robber can be held to account for his criminal act.
Yeah.
No wonder The Fed doesn't want this one out in the public eye.
Sorry BerScrewTheCommonMan - now there's 300,000+ people who know about it.
Spread the word.
What have we learned in 2065 years?
"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work instead of living on public assistance.
~ Cicero - 55 BC
So evidently nothing..
What have we learned in 2065 years?
"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work instead of living on public assistance.
~ Cicero - 55 BC
So evidently nothing..
Is 007 buying all these shares today? LOL.
OK, we're getting a bit out of hand here. Let's regroup and start all over. For the record, yes, political decisions do have an impact on an economy, we all realize that. It may only be short term as a healthy vibrant economy will eventually negate adverse political decisions rendering them moot. However, Bullwinkle would like to keep the politics off this board. Please honor his wishes. This is one of the most informative boards on Ihub read by many. A little respect and courtesy goes a long way to keeping discussions healthy and informative.
Thank you all.
........al
Hi Dan- this was the response from my state rep on your post that I sent along with my comments.
Quote:
--------------------------------------------------------------------------------
Thank you for contacting me. I will be sending your message on to the Attorney Generals office. Have a nice day!
--------------------------------------------------------------------------------
...........al
Yes, stocks and commodities will rise and put a real damper on a struggling economy. Personally I think this was the plan all along by the FED and treasury. All that money being created has to go somewhere. They could give a hoot what happens to our declining disposable incomes.
......al
Thanks for that post. I'm always glad to send those along to my state rep here in PA. If I get an answer I'll send it to you. I did demand some action, but am highly doubtful.
.........al
To have so many co-sponsors on his 'Audit The Fed' bill only to see it cut to pieces before it went anywhere was most disheartening, I must say....
How High Would Gold & Silver Prices Go if GS, JPM and HSBC Were Barred from Participation in Gold/Silver Markets?
November 5th, 2010
Back on May 17, 2010, I granted an interview to Lars Schall of MMNews Germany, in which I stated, “if U.S. regulators stepped in and said Goldman Sachs, HSBC and JPMorgan couldn’t participate in the gold and silver futures market for three weeks, I really think you would see the gold and silver price more than double in that time.”
Though HSBC is the principal manipulator in the gold futures markets and JP Morgan the principal manipulator in the silver futures markets (always manipulating price downward), I included Goldman Sachs in the above stable of PM manipulators for GS’s notable and likely deliberately-executed lies about gold that unfortunately influence global purchases of gold worldwide. For example at the end of 2007, Goldman Sachs listed shorting gold as one of their top 10 trades for 2008, after which gold promptly rose about 18% in less than three months. Though gold barely closed 2008 higher than where it started, the price of gold immediately dropped right after Goldman’s announcement, at which point I suspect that they bought more gold for their proprietary accounts.
In September of 2009, Goldman Sachs released the following statement about gold:
“On a relative basis, we believe gold equities will underperform other cyclical equities. We believe the price of gold is likely to be range bound for the following reasons: One of the key drivers, its defensive status, is no longer attractive given the backdrop of a recovery in the global economy. The US dollar, another key driver, has dropped 13% from its recent high, which is largely priced in, in our view. We forecast the price of gold in 2010E to be US$964/oz.”
Deliberate disinformation of the type regularly released by Goldman Sachs about gold plays a critical role in suppressing gold prices. During my interview with MMNews Germany in May, 2010, Mr. Schall asked of me the following question:
As you know, one organization that tries to expose the rigging of the gold market for years, the Gold Anti-Trust Action Committee (GATA), faces huge problems to get “air time” since its founding in 1999. Why do you think that especially the US and British media is so silent about what GATA has to say? Isn’t it an indicator among others that journalism itself is in a profound crisis of its own?
My response was as follows:
Yes, I believe it is. I believe that investigative journalism is almost dead. You have better investigative journalism regarding the financial markets on financial blogs today and in independent newspapers than you ever would receive in the mass media. I think that’s an indictment of how far mass media journalism has fallen from its once lofty perch.
I should know more about media outside the United States, but I know within in the United States, the bankers have always made an effort to control the media. I know that the Rockefellers, for example, have in the past thanked Time Magazine for its silence about some of their financial initiatives, stating had it not been for their silence, that they wouldn’t have been able to accomplish the vast majority of their financial objectives. And in the US, I do know as well that there are only a handful of companies that control 90% of all media -that’s all TV, radio and newspapers.
So I think either the truth is outright censored or there is actually a concept in journalism that is called self-censorship. Journalists learn by the pattern of promotion within the newspaper, the Radio station, or TV station they work for, what they can or cannot say. They actually self-censor themselves over time as well, which is a shame, but that’s just the way it is.
Since September, 2009 the HUI AMEX Gold Bugs index has risen more than 56%. Furthermore, Goldman Sachs is known to be one of the traders that has artificially suppressed the prices of gold mining stocks by staking out massive short positions in gold mining stocks while holding long positions in gold futures. The underperformance of gold/silver stocks over the past several years has undoubtedly also prevented investors in gold/silver stocks from purchasing as much physical gold/silver as they may have had gold/silver stock prices not been artificially suppressed as well (underperformance in as much as gold/silver stocks typically leverage the price of the PM to significantly outperform the performance of the underlying PM). This past week, we saw the effect that public KNOWLEDGE regarding fraud can have upon markets. Since CFTC Commissioner Bart Chilton released an official statement in which he stated, “there have been repeated attempts to influence prices in the silver markets”, in the ensuing 7 TRADING DAYS, the price of silver has risen an astounding 11.93%! I still contend today that if regulators barred just Goldman Sachs, HSBC and JP Morgan from any type of participation in the gold/silver markets (futures, mining stocks, and releasing deliberate disinformation), that gold/silver prices would double in less than three weeks as gold/silver would be relatively free to reach their free market prices.
One month ago, on October 6th, I wrote an article titled, “Gold & Silver, This Time it IS Different” in which I stated:
While is true that gold/silver are heavily overbought now and PM stocks are either in heavily overbought territory or rapidly approaching heavily overbought territory, during strong runs in past gold/silver bulls, the underlying metal prices and stock prices have remained in overbought territory for months on end. This alone is not a reason for a correction as Central Bankers have been fighting the fundamental weaknesses in their fraudulent global monetary system daily for quite some time now. When bankers legalize fraud through the legislation they sponsor/endorse, technical analysis is insufficient to ascertain the short-term direction of not only stock markets but also gold/silver markets. One must understand the history of Central Banker engineered attacks and price suppression schemes against gold and silver to estimate the probabilities of short-term corrections in addition to the use of technical analysis.
Today, Central Bankers are increasingly having a more and more difficult time suppressing the price of gold and silver. This is a marked departure from years past, even as recently as 2008, when they engineered a gold/silver crash to coincide with their engineered stock market crash. Though they still have the power to engineer short-term corrections in gold/silver markets, their power to do so has been fading this past year. They must resort to more and more trickery to engineer these collapses. If they decide to engineer a strong rapid decline in major US indexes in the near future, you can be sure that they will use this event to also use all of their abilities to engineer a simultaneous sell-off in gold and silver. Still, any correction we receive in gold/silver markets before the end of the year will be likely to be very short-lived as various global players will step in, stop the decline with buying, and continue the rising trend in gold/silver prices.
Now that the price suppression schemes against gold and silver are gaining mainstream recognition around the world, I believe that the type of frothy price action we have just witnessed in the PM markets since Mr. Chilton’s announcement will serve as a sneak peak into the massive leaps higher in gold/silver prices in the years to come as the criminal banking cartel loses its grip over gold/silver prices.
About the Author: JS Kim is the Founder and Managing Director of SmartKnowledge Pte. Limited, a fiercely independent investment research & consulting firm that seeks to protect Main Street from the fraud of Wall Street. A $1,000,000 portfolio invested in the SmartKnowledgeU Crisis Investment Opportunities newsletter portfolio on its launch date on June 15, 2007, portfolio, has now grown to $2,444,088 as of November 3, 2009 (in a tax-deferred account).
Some poor soul just got their shares literally stolen. The games are afoot.
........al
Looks like we have a dumper from what I can see. Nite is not even willing to make a market at these levels. How many shares were involved with the recent financing? Cornell back in business under a different name?
.....al
PPS down, take your pick-
1. Company dumping shares.
2. Toxic financing increasing available shares.
3. A large holder decided to liquidate
4. Some of the posters here are correct and the company itself is toxic to shareholders/investors.
5. Due to some very negative postings here that are made to seem legit, new potential investors are being scared off.
Take your pick!
........al
I'm not much of a chartist but isn't that a nice wedge forming?
........al
vote tomorrow, my 2¢:
I believe voting is a learning experience.When we are young and naive
with the lessons of public schooling in our minds, we happily go to the
voting booth knowing we are there to vote for the best man/woman for the
job. As we age and gain more knowledge of how the system of politics
really works we enter the voting booth trying to figure out which
candidate is the lesser of the evils offered. The learning curve
continues as you realize that no matter which party you choose to
represent your interests as an American, if they are in total control
you are going to be screwed as they take real good care of the monied
interests that support them. All those years I have spent on the
learning curve have led me to the conclusion that the only government
that really works for the people is a gridlocked government. They spend
so much time posturing and making speeches blaming each other for
everything that they do little or nothing else. And I have found over
the years that the less they do, the better off we are. I am a fiercely
independant voter that has pulled levers for both side, chose
independants, and even wrote in a few over the years. As I enter the
voting booth tomorrow, and I will as I feel I have no right to complain
if I don't, nothing blue will be coming from my ballot. Here's hoping
the republicans take control of at least one house of congress. Gridlock
is good!!
.........al
Facecrime
By Doug Hornig, Editor, Casey’s Extraordinary Technology
In late September, there was a modest gathering of law enforcement officers, military personnel, and mental health professionals in the small western New York town of Hamburg. It was totally ignored by the mainstream media, with just a reporter from the Buffalo News on hand to record the proceedings. Lucky for us.
The 120 men and women were attending the International First Responder-Military Symposium, held at Hilbert College, a small “Franciscan tradition” place of learning. Not that St. Francis would have been interested in a military symposium, but if he’d been able to attend, he’d have heard all about a new technology that will help identify and track “terrorists.”
A lot of very disparate people have been tagged with that term of late. But this new tech may well be the final icing on the cake. It’s a computer program that trawls phone conversations, emails, and social networking sites looking for any signs of resentment of the government.
That’s right. If you’re angry at Washington, they want to know who you are and what you’re saying.
The program has just been rolled out, and there’s no certainty that the cops or the Pentagon will jump at the chance to own it. But in the current climate, what’s the likelihood that they’ll turn up their noses at the opportunity to add this valuable weapon to their anti-terrorist arsenal?
Mathieu Guidere of the University of Geneva is co-developer of the software, along with Dr. Newton Howard, director of MIT’s Mind Machine Project. Guidere said it works by pinpointing “resentment in conversations through measurements in decibels and other voice biometrics,” and that it “detects obsessiveness with the individual going back to the same topic over and over, measuring crescendos.” With written material, it hunts for a similar fixation on the subject.
Chillingly, Guidere added that once this dangerous individual has been identified, the information can be passed along to authorities so surveillance can begin.
For the moment, Guidere is content to tout his program as a means of locating potential lone bombers, but his method of characterization leaves a bit to be desired. These people are not mentally deranged, Guidere says, they harbor hatred and deep resentment toward government. And their emotional spikes can be identified by the computer.
Quite a selling point. You monitor what folks are saying on Facebook. You profile a suicide bomber bound for Times Square. You stop him before he does the deed. Who would be against that?
Trouble is, of course, that “deep resentment toward government” describes everyone from WTO protesters to Tea Partiers and, increasingly, in-between Americans who have never picketed anything. In fact, it just may be possible that the phrase describes more than a few readers of this publication.
Here’s another quote: “It was terribly dangerous to let your thoughts wander when you were in any public place or within range of a telescreen. The smallest thing could give you away. A nervous tic, an unconscious look of anxiety, a habit of muttering to yourself – anything that carried with it the suggestion of abnormality, of having something to hide. In any case, to wear an improper expression on your face … was itself a punishable offense. There was even a word for it in Newspeak: facecrime…”
Those words were written over 60 years ago, by George Orwell, in the novel 1984. Only off by 26 years. Not bad, considering he had only his imagination with which to conjure up the total surveillance state.
Too bad Orwell didn’t live to see the Internet. He would’ve loved it for its potential to undermine centralized control. Now though, as you can see, plans are afoot to take the very embodiment of freedom of speech and turn it against the people. How will it survive as an open forum if people know the feds are patrolling it for unacceptable words?
All of the prohibitions government feels compelled to enforce have already turned America into the world’s #1 Incarceration Nation. We’re running short on prison space. So where will they put this horde of malcontents they’ll be rounding up in the near future? Good question.
Building the Internet was a massive undertaking. But keeping it free may prove to be even more difficult.
Facecrime
By Doug Hornig, Editor, Casey’s Extraordinary Technology
In late September, there was a modest gathering of law enforcement officers, military personnel, and mental health professionals in the small western New York town of Hamburg. It was totally ignored by the mainstream media, with just a reporter from the Buffalo News on hand to record the proceedings. Lucky for us.
The 120 men and women were attending the International First Responder-Military Symposium, held at Hilbert College, a small “Franciscan tradition” place of learning. Not that St. Francis would have been interested in a military symposium, but if he’d been able to attend, he’d have heard all about a new technology that will help identify and track “terrorists.”
A lot of very disparate people have been tagged with that term of late. But this new tech may well be the final icing on the cake. It’s a computer program that trawls phone conversations, emails, and social networking sites looking for any signs of resentment of the government.
That’s right. If you’re angry at Washington, they want to know who you are and what you’re saying.
The program has just been rolled out, and there’s no certainty that the cops or the Pentagon will jump at the chance to own it. But in the current climate, what’s the likelihood that they’ll turn up their noses at the opportunity to add this valuable weapon to their anti-terrorist arsenal?
Mathieu Guidere of the University of Geneva is co-developer of the software, along with Dr. Newton Howard, director of MIT’s Mind Machine Project. Guidere said it works by pinpointing “resentment in conversations through measurements in decibels and other voice biometrics,” and that it “detects obsessiveness with the individual going back to the same topic over and over, measuring crescendos.” With written material, it hunts for a similar fixation on the subject.
Chillingly, Guidere added that once this dangerous individual has been identified, the information can be passed along to authorities so surveillance can begin.
For the moment, Guidere is content to tout his program as a means of locating potential lone bombers, but his method of characterization leaves a bit to be desired. These people are not mentally deranged, Guidere says, they harbor hatred and deep resentment toward government. And their emotional spikes can be identified by the computer.
Quite a selling point. You monitor what folks are saying on Facebook. You profile a suicide bomber bound for Times Square. You stop him before he does the deed. Who would be against that?
Trouble is, of course, that “deep resentment toward government” describes everyone from WTO protesters to Tea Partiers and, increasingly, in-between Americans who have never picketed anything. In fact, it just may be possible that the phrase describes more than a few readers of this publication.
Here’s another quote: “It was terribly dangerous to let your thoughts wander when you were in any public place or within range of a telescreen. The smallest thing could give you away. A nervous tic, an unconscious look of anxiety, a habit of muttering to yourself – anything that carried with it the suggestion of abnormality, of having something to hide. In any case, to wear an improper expression on your face … was itself a punishable offense. There was even a word for it in Newspeak: facecrime…”
Those words were written over 60 years ago, by George Orwell, in the novel 1984. Only off by 26 years. Not bad, considering he had only his imagination with which to conjure up the total surveillance state.
Too bad Orwell didn’t live to see the Internet. He would’ve loved it for its potential to undermine centralized control. Now though, as you can see, plans are afoot to take the very embodiment of freedom of speech and turn it against the people. How will it survive as an open forum if people know the feds are patrolling it for unacceptable words?
All of the prohibitions government feels compelled to enforce have already turned America into the world’s #1 Incarceration Nation. We’re running short on prison space. So where will they put this horde of malcontents they’ll be rounding up in the near future? Good question.
Building the Internet was a massive undertaking. But keeping it free may prove to be even more difficult.
LOL, I wish, but alas no insider info, just some rumor I picked up on a while ago. If a RM comes to pass with this low OS we could see pennies easily. I am noticing a lot of hype but no substance anywhere. Time will tell.
.........al
I caught rumors of a possible RM a few months ago. Could not confirm it. With low OS would be a good candidate. Watching closely.
.........al
How This Economy Recovery Stacks Up
http://www.investorsinsight.com/blogs/forecasts_trends/archive/2010/10/26/how-this-economy-recovery-stacks-up.aspx
I've been a reader of Jefferson for a long time. Funny how the wisdom of the past is so applicable today.
........al
> Subject: Thomas Jefferson
>
>> ____________________________________
>
> How did Jefferson know?
>
> John F. Kennedy held a dinner in the white House for a group of the
> brightest minds in the nation at that time. He made this statement:
> "This is perhaps the assembly of the most intelligence ever to
> gather at one time in the White House with the exception of
> when Thomas Jefferson dined alone."
> Especially read the last quote from 1802.
>
>
>
>
> When we get piled
> upon one another in large cities, as in Europe,
> we shall become as corrupt as Europe .
> _Thomas Jefferson_
> (http://www.brainyquote.com/quotes/quotes/t/thomasjeff109181.html)
>
>
> The democracy will cease to exist
> when you take away from those
> who are willing to work and give to those who would not.
> _Thomas Jefferson_
> (http://www.brainyquote.com/quotes/quotes/t/thomasjeff122881.html)
>
>
> It is incumbent on every
> generation to pay its own debts as it goes.
> A principle which if acted on would save
> one-half the wars of the world.
> _Thomas Jefferson_
> (http://www.brainyquote.com/quotes/quotes/t/thomasjeff136389.html)
>
>
> I predict future happiness for
> Americans if they can prevent the government
> from wasting the labors of the people under the
> pretense of taking care of them.
> _Thomas Jefferson_
> (http://www.brainyquote.com/quotes/quotes/t/thomasjeff136410..html)
>
>
> My reading of history convinces me
> that most bad government results from too much
> government.
> _Thomas Jefferson_
> (http://www..brainyquote.com/quotes/quotes/t/thomasjeff157220.html)
>
>
> No free man shall ever be debarred
> the use of arms.
> _Thomas Jefferson_
> (http://www.brainyquote.com/quotes/quotes/t/thomasjeff125076..html)
>
>
> The strongest reason for the
> people to retain the right to keep and bear arms
> is, as a last resort, to protect themselves
> against tyranny in government.
> _Thomas Jefferson_
> (http://www.brainyquote.com/quotes/quotes/t/thomasjeff100991..html)
>
>
> The tree of liberty must be
> refreshed from time to time with the blood of
> patriots and tyrants.
> _Thomas Jefferson_
> (http://www.brainyquote.com/quotes/quotes/t/thomasjeff109180.html)
>
>
> To compel a man to subsidize with
> his taxes the propagation of ideas which he
> disbelieves and abhors is sinful and tyrannical.
> _Thomas Jefferson_
> (http://www.brainyquote.com/quotes/quotes/t/thomasjeff157246..html)
>
>
> Thomas Jefferson said in 1802:
> 'I believe that banking institutions are more dangerous to
> our liberties than standing armies.
> If the American people ever allow private banks to control the
> issue of their currency, first by inflation, then by
> deflation, the banks and corporations that will
> grow up around the banks will deprive the people
> of all property - until their children wake-up homeless on the
> continent their fathers conquered.'
Please note I am not a fan of Sarah Palin but I thought I'd pass this along for reading pleasure. Please note it was published in Canada and we would never see this in US media.
The Real Truth About Sarah Palin -- Ouch !
Very interesting facts on two very
different ladies.
Sarah Palin
Whether your a Democrat, Independent,
or Republican....the second half of this email should make all of us
very sick,
send this on .....especially the
second half......
READ TO THE VERY END! VERY
ENLIGHTENING!!! AND VERY DISTURBING!!!
By Dewie Whetsell, Alaskan Fisherman.
As posted in comments on Greta's
article referencing the MOVEON ad about Sarah Palin.
The last 45 of my 66 years I've spent
in a commercial fishing town in Alaska . I understand Alaska politics
but never understood national politics well until this last year.
Here's the breaking point: Neither side of the Palin controversy gets
it. It's not about persona, style, rhetoric, it's about doing things.
Even Palin supporters never mention the things that I'm about to
mention here.
1. Democrats forget when Palin was the
Darling of the Democrats, because as soon as Palin took the Governor's
office away from a fellow Republican and tough SOB, Frank Murkowski,
she tore into the Republican's "Corrupt Bastards Club" (CBC) and sent
them packing. Many of them are now residing in State housing and
wearing orange jump suits The Democrats reacted by skipping around the
yard, throwing confetti and singing, "la la la la" (well, you know how
they are). Name another governor in this country that has ever done
anything similar.
2. Now with the CBC gone, there were
fewer Alaskan politicians to protect the huge, giant oil companies
here. So she constructed and enacted a new system of splitting the oil
profits called "ACES." Exxon (the biggest corporation in the world)
protested and Sarah told them, "don't let the door hit you in the
stern on your way out." They stayed, and Alaska residents went from
being merely wealthy to being filthy rich. Of course, the other huge
international oil companies meekly fell in line. Again, give me the
name of any other governor in the country that has done anything
similar.
3. The other thing she did when she
walked into the governor's office is she got the list of State
requests for federal funding for projects, known as "pork." She went
through the list, took 85% of them and placed them in the
"when-hell-freezes-over" stack. She let locals know that if we need
something built, we'll pay for it ourselves. Maybe she figured she
could use the money she got from selling the previous governor's jet
because it was extravagant. Maybe she could use the money she saved by
dismissing the governor's cook (remarking that she could cook for her
own family), giving back the State vehicle issued to her, maintaining
that she already had a car, and dismissing her State provided security
force (never mentioning - I imagine - that she's packing heat
herself). I'm still waiting to hear the names of those other
governors.
4. Now, even with her much-ridiculed
"gosh and golly" mannerism, she also managed to put together a totally
new approach to getting a natural gas pipeline built which will be the
biggest private construction project in the history of North America.
No one else could do it although they tried. If that doesn't impress
you, then you're trying too hard to be unimpressed while watching her
do things like this while baking up a batch of brownies with her other
hand.
5. For 30 years, Exxon held a lease to
do exploratory drilling at a place called Point Thompson. They made
excuses the entire time why they couldn't start drilling. In truth
they were holding it like an investment. No governor for 30 years
could make them get started. Then, she told them she was revoking
their lease and kicking them out. They protested and threatened court
action. She shrugged and reminded them that she knew the way to the
court house. Alaska won again.
6. President Obama wants the nation to
be on 25% renewable resources for electricity by 2025. Sarah went to
the legislature and submitted her plan for Alaska to be at 50%
renewable by 2025. We are already at 25%. I can give you more
specifics about things done, as opposed to style and persona.
Everybody wants to be cool, sound cool, look cool. But that's just a
cover-up. I'm still waiting to hear from liberals the names of other
governors who can match what mine has done in two and a half years. I
won't be holding my breath.
By the way, she was content to return
to Alaska after the national election and go to work, but the haters
wouldn't let her. Now these adolescent screechers are obviously not
scuba divers. And no one ever told them what happens when you
continually jab and pester a barracuda. Without warning, it will spin
around and tear your face off. Shoulda known better.
You have just read the truth about
Sarah Palin that sends the media, along with the Democrat party, into
a wild uncontrolled frenzy to discredit her. I guess they are only
interested in skirt chasers, dishonesty, immoral people, liars,
womanizers, murderers, and bitter ex-presidents' wives.
So "You go, Girl." I only wish the men
in Washington had your guts, determination, honesty, and morals.
I rest my case. Only FOOLS listen to
the biased media.
NOW If you've read this far
...............................................now ,open your
eyes..........
First Lady Michelle Obama's Servant
List and Pay Scale
TheFirst Lady Requires More Than
Twenty Attendants (Thats 22 Attendants to be exact)
1. $172,200 - Sher, Susan (Chief Of Staff)
2. $140,000 - Frye, Jocelyn C. (Deputy
Assistant to the President and Director of Policy And Projects For The
First Lady)
3. $113,000 - Rogers, Desiree G.
(Special Assistant to the President and White House Social Secretary)
4. $102,000 - Johnston, Camille Y.
(Special Assistant to the President and Director of Communications for
the First Lady)
5. $100,000 - Winter, Melissa E.
(Special Assistant to the President and Deputy Chief Of Staff to the
First Lady)
6. $90,000 - Medina , David S.
(Deputy Chief Of Staff to the First Lady)
7. $84,000 - Lelyveld, Catherine M.
(Director and Press Secretary to the First Lady)
8. $75,000 - Starkey, Frances M.
(Director of Scheduling and Advance for the First Lady)
9. $70,000 - Sanders, Trooper (Deputy
Director of Policy and Projects for the First Lady)
10. $65,000 - Burnough, Erinn J.
(Deputy Director and Deputy Social Secretary)
11. $64,000 - Reinstein, Joseph B.
(Deputy Director and Deputy Social Secretary)
12. $62,000 - Goodman, Jennifer R.
(Deputy Director of Scheduling and Events Coordinator For The First
Lady)
13. $60,000 - Fitts, Alan O. (Deputy
Director of Advance and Trip Director for the First Lady)
14. $57,500 - Lewis, Dana M. (Special
Assistant and Personal Aide to the First Lady)
15. $52,500 - Mustaphi, Semonti M.
(Associate Director and Deputy Press Secretary to The First Lady)
16. $50,000 - Jarvis, Kristen E.
(Special=2 0Assistant for Scheduling and Traveling Aide to The First
Lady)
17. $45,000 - Lechtenberg, Tyler A.
(Associate Director of Correspondence For The First Lady)
18. $43,000 - Tubman, Samantha (Deputy
Associate Director, Social Office)
19. $40,000 - Boswell, Joseph J.
(Executive Assistant to the Chief Of Staff to the First Lady)
20. $36,000 - Armbruster, Sally M.
(Staff Assistant to the Social Secretary)
21. $35,000 - Bookey, Natalie (Staff Assistant)
22. $35,000 - Jackson, Deilia A.
(Deputy Associate Director of Correspondence for the First Lady)
(This is community organizing at it's finest.)
There has NEVER been anyone in the
White House at any time who has created such an army of staffers whose
sole duties are the facilitation of the First Lady's social life.One
wonders why she needs so much help,at taxpayer expense, when even
Hillary, only had three; Jackie Kennedy one; Laura Bush one; and prior
to Mamie Eisenhower social help came from the President's own pocket.
Note: This does not include makeup
artist Ingrid Grimes-Miles, 49, and "First Hairstylist" Johnny Wright,
31, both of whom traveled aboard Air Force One to Europe .
FRIENDS.....THESE SALARIES ADD UP TO
SIX MILLION, THREE HUNDRED SIXTY FOUR THOUSAND DOLLARS ($6,364,000)
FOR THE 4 YEARS OF OFFICE????? AND WE ARE IN A RECESSION?????
WELL....MOST OF US ARE. I GUESS IT'S OK TO SPEND WILDLY WHEN IT'S NOT
YOUR OWN MONEY?????
Copyright 2009 CanadaFreePress.Com
<http://freepress.com/>
Yes, Yes, I know, The Canadian Free
Press has to publish this because the USA media is too scared they
might be considered racist.
Sorry USA !
History Unfolding -
David Kaiser is a respected historian whose published works have covered a broad range of topics, from European Warfare to American League Baseball. Born in 1947, the son of a diplomat, Kaiser spent his childhood in three capital cities: Washington D.C. , Albany , New York , and Dakar , Senegal . He attended Harvard University , graduating there in 1969 with a B.A. in history. He then spent several years more at Harvard, gaining a PhD in history, which he obtained in 1976. He served in the Army Reserve from 1970 to 1976.
He is a professor in the Strategy and Policy Department of theUnited States Naval War College. He has previously taught at Carnegie Mellon, Williams College and Harvard University . Kaiser's latest book, The Road to Dallas, about the Kennedy assassination, was just published by Harvard University Press.
Dr. David Kaiser
History Unfolding
I am a student of history. Professionally, I have written 15 books on history that have been published in six languages, and I have studied history all my life. I have come to think there is something monumentally large afoot, and I do not believe it is simply a banking crisis, or a mortgage crisis, or a credit crisis. Yes these exist, but they are merely single facets on a very large gemstone that is only now coming into a sharper focus.
Something of historic proportions is happening. I can sense it because I know how it feels, smells, what it looks like, and how people react to it. Yes, a perfect storm may be brewing, but there is something happening within our country that has been evolving for about ten to fifteen years.. The pace has dramatically quickened in the past two.
We demand and then codify into law the requirement that our banks make massive loans to people we know they can never pay back? Why?
We learned just days ago that the Federal Reserve, which has little or no real oversight by anyone, has "loaned" two trillion dollars (that is $2,000,000,000,000) over the past few months, but will not tell us to whom or why or disclose the terms. That is our money. Yours and mine. And that is three times the $700 billion we all argued about so strenuously just this past September. Who has this money? Why do they have it? Why are the terms unavailable to us? Who asked for it? Who authorized it? I thought this was a government of "we the people," who loaned our powers to our elected leaders. Apparently not.
We have spent two or more decades intentionally de-industrializing our economy.. Why?
We have intentionally dumbed down our schools, ignored our history, and no longer teach our founding documents, why we are exceptional, and why we are worth preserving. Students by and large cannot write, think critically, read, or articulate. Parents are not revolting, teachers are not picketing, school boards continue to back mediocrity.. Why?
We have now established the precedent of protesting every close election (violently in California over a proposition that is so controversial that it simply wants marriage to remain defined as between one man and one woman. Did you ever think such a thing possible just a decade ago?) We have corrupted our sacred political process by allowing unelected judges to write laws that radically change our way of life, and then mainstream Marxist groups like ACORN and others to turn our voting system into a banana republic. To what purpose?
Now our mortgage industry is collapsing, housing prices are in free fall, major industries are failing, our banking system is on the verge of collapse, social security is nearly bankrupt, as is Medicare and our entire government. Our education system is worse than a joke (I teach college and I know precisely what I am talking about) - the list is staggering in its length, breadth, and depth. It is potentially 1929 x ten...and we are at war with an enemy we cannot even name for fear of offending people of the same religion, who, in turn, cannot wait to slit the throats of your children if they have the opportunity to do so.
And finally, we have elected a man that no one really knows anything about, who has never run so much as a Dairy Queen, let alone a town as big as Wasilla , Alaska .. All of his associations and alliances are with real radicals in their chosen fields of employment, and everything we learn about him, drip by drip, is unsettling if not downright scary (Surely you have heard him speak about his idea to create and fund a mandatory civilian defense force stronger than our military for use inside our borders? No? Oh, of course. The media would never play that for you over and over and then demand he answer it. Sarah Palin's pregnant daughter and $150,000 wardrobe are more important.)
Mr. Obama's winning platform can be boiled down to one word: CHANGE. Why?
I have never been so afraid for my country and for my children as I am now.
This man campaigned on bringing people together, something he has never, ever done in his professional life. In my assessment, Obama will divide us along philosophical lines, push us apart, and then try to realign the pieces into a new and different power structure. Change is indeed coming. And when it comes, you will never see the same nation again.
And that is only the beginning..
As a serious student of history, I thought I would never come to experience what the ordinary, moral German must have felt in the mid-1930s. In those times, the "savior" was a former smooth-talking rabble-rouser from the streets, about whom the average German knew next to nothing. What they should have known was that he was associated with groups that shouted, shoved, and pushed around people with whom they disagreed; he edged his way onto the political stage through great oratory. Conservative "losers" read it right now.
And there were the promises. Economic times were tough, people were losing jobs, and he was a great speaker. And he smiled and frowned and waved a lot. And people, even newspapers, were afraid to speak out for fear that his "brown shirts" would bully and beat them into submission. Which they did - regularly. And then, he was duly elected to office, while a full-throttled economic crisis bloomed at hand - the Great Depression. Slowly, but surely he seized the controls of government power, person by person, department by department, bureaucracy by bureaucracy. The children of German citizens were at first, encouraged to join a Youth Movement in his name where they were taught exactly what to think. Later, they were required to do so. No Jews of course,
How did he get people on his side? He did it by promising jobs to the jobless, money to the money-less, and rewards for the military-industrial complex.. He did it by indoctrinating the children, advocating gun control, health care for all, better wages, better jobs, and promising to re-instill pride once again in the country, acrossEurope, and across the world. He did it with a compliant media - did you know that? And he did this all in the name of justice and . . .CHANGE And the people surely got what they voted for.
If you think I am exaggerating, look it up. It's all there in the history books.
So read your history books. Many people of conscience objected in 1933 and were shouted down, called names, laughed at, and ridiculed. When Winston Churchill pointed out the obvious in the late 1930s while seated in the House of Lords in England (he was not yet Prime Minister), he was booed into his seat and called a crazy troublemaker. He was right, though. And the world came to regret that he was not listened to.
Do not forget that Germany was the most educated, the most cultured country in Europe . It was full of music, art, museums, hospitals, laboratories, and universities. And yet, in less than six years (a shorter time span than just two terms of the U. S.presidency) it was rounding up its own citizens, killing others, abrogating its laws, turning children against parents, and neighbors against neighbors. All with the best of intentions, of course. The road to Hell is paved with them.
As a practical thinker, one not overly prone to emotional decisions, I have a choice: I can either believe what the objective pieces of evidence tell me (even if they make me cringe with disgust); I can believe what history is shouting to me from across the chasm of seven decades; or I can hope I am wrong by closing my eyes, having another latte, and ignoring what is transpiring around me..
I choose to believe the evidence. No doubt some people will scoff at me, others laugh, or think I am foolish, naive, or both. To some degree, perhaps I am. But I have never been afraid to look people in the eye and tell them exactly what I believe-and why I believe it.
I pray I am wrong. I do not think I am. Perhaps the only hope is our vote in the next elections.
David Kaiser
Jamestown , Rhode Island
United States
Mortgage Crisis Set to Kick Into a Higher Gear
By Elizabeth MacDonald
Published October 19, 2010
| FOXBusiness
“It appears as though many loans and other mortgage-related assets have been double and even triple-pledged to various constituencies.”-- Bank of America court filing, June 2010
A court filing made by Bank of America (BAC: 11.79 ,-0.52 ,-4.22%) back in June is adding another twist to the foreclosure document crisis, a problem that could mushroom into more writedowns for the banking industry, and headaches for Fannie Mae, Freddie Mac, and the New York Federal Reserve, which now owns $1.25 trillion in mortgage-backed securities guaranteed by Freddie Mac, Fannie Mae and Ginnie Mae.
Attorneys general in 50 states are now investigating allegations of falsified foreclosure documents, where banks allegedly have not proved they own the underlying mortgage and in turn have the right to seize a home when a borrower defaults.
But now the question is not just who owns the property -- the mortgages -- but whether Wall Street and the mortgage industry pumped out too many mortgage-backed securities built on these loans?
Specifically, the question is how many mortgages were overpromised and overpledged -- sometimes two, three maybe five times, maybe umpteen times -- to back securities? How many fraudulent mortgage-backed securities now sit on Fannie and Freddie’s books? At the New York Fed? Who will be on the hook for those securities?
And instead of another round of quantitative easing from the Federal Reserve, will the US Treasury have to step up to support the banks in clearing out this possible mountain of fake securities?
A New York Fed official tells me that because Fannie and Freddie back its $1.25 trillion mortgage-backed securities portfolio, it won’t face any losses for rotten securities. Fannie and Freddie officials tell me that while they do have that unlimited pipeline into the US Treasury, they are going to turn around and make the banks swallow the losses for the bad securities they built on loans.
Wall Street analysts concur. That is called a put-back. But if the banks cannot, then taxpayers will because the US Treasury is backing up the balance sheets at Fannie and Freddie.
The estimates for the size of the problem are coming in. JPMorgan Chase (JPM: 37.71 ,-0.50 ,-1.31%) analysts Ed Reardon and John Sim calculate bank industry wide put-back risk from Fannie and Freddie at $23 billion to $35 billion from mortgage-backed securities, $40 billion to $80 billion in non-agency mortgages, and $20 billion to $30 billion for second liens and home equity lines of credit.
Reardon and Sim figure the true cost may be less than the total above, perhaps on the order of $55 billion for the entire industry. Worst case scenario could be $120 billion. And the put-backs may be spread over many years, at about $10 billion to $25 billion annually for the entire industry.
But Wall Street fears that numbers could be much larger.
Branch Hill, a San Francisco hedge fund, says Bank of America faces larger numbers for putbacks, suggesting upwards of $59 billion in losses on put-backs. BofA officials say those numbers are exaggerated and are an overstatement.
The Taylor, Bean & Whitaker case illustrates the problem. The BofA court filing indicates that mortgages were falsely pledged to numerous investors, perhaps double- and triple-pledging.
The Bank of America court filing has to do with the Chapter 11 bankruptcy filing by Taylor, Bean & Whitaker Mortgage Corp. [TBW] run by Lee Farkas, a Florida businessman who built Taylor Bean from a tiny mortgage company into the nation’s largest mortgage lender not owned by a bank. The case ropes in Bank of America and Freddie Mac, as well.
Federal prosecutors claim Taylor Bean’s Farkas engaged in a seven-year, multibillion-dollar fraud by double- and triple-pledging Taylor Bean’s mortgage loans to investors and improperly transferring loans and securities between the company’s bank accounts. Farkas now awaits trial.
Prosecutors also say Taylor Bean’s Farkas and others engaged in a scheme to misappropriate more than $1.9 billion in funds to hide operating losses at Taylor Bean, which in turn helped hasten the collapse of Colonial Bank, the company’s main lender.
The fight boils down to this: Deutsche Bank (DB: 57.58 ,-0.82 ,-1.40%) and BNP Paribas in late 2007 created an off-balance sheet vehicle called Ocala Funding that bought $2.1 billion in commercial mortgage loans.
Ocala pumped out asset-backed commercial paper, which then funded the purchase of mortgage loans from Taylor, Bean & Whitaker. Those notes were then sold to Freddie Mac. LaSalle Bank acted as the collateral agent and trustee; Bank of America eventually bought LaSalle Bank, so it then acted as the trustee and managed the collateral for Ocala, helping to oversee the roughly $1 billion in securities Ocala put on its conveyor belt each month.
When Taylor, Bean collapsed in late summer 2009, its lender, Colonial Bank, went under as well, and so did Ocala, after the Federal Housing Administration forced it to pull the plug.
All this triggered lawsuits between Deutsche Bank, BNP Paribas and BofA. Which brings the fight to Freddie Mac. Bank of America has made a court filing essentially demanding to review Freddie Mac’s asset records, to make sure Freddie did not get assets it is not due and owing. BofA also wants to know who is the rightful owner of these mortgages and securities, and that the proper ownership paper trail is in place.
Specifically, its filing says: “On numerous occasions, the Debtor (in this case, TBW) has informed the Court and other parties in interest that one of the biggest challenges in this case will be sorting out the competing claims to cash and other assets that flowed through the Debtor’s accounts prior to the bankruptcy filing.
“Indeed, it appears as though many loans and other mortgage-related assets have been double- and even triple-pledged to various constituencies. According to the Debtor, the largest single source of disputed funds — more than $548 million according to Debtor’s Second Interim Reconciliation Report — relates to Freddie Mac.
“Indeed, BofA believes that there were improper diversions of Ocala loans and assets from TBW to Freddie Mac, and Ocala may have valid ownership claims with respect to a substantial portion of assets that relate to Freddie Mac.
“Accordingly, there can be little doubt that BofA, in its representative capacities with respect to Ocala, has a valid and pressing need for information regarding Freddie Mac’s extensive need for information regarding Freddie Mac’s extensive relationship with the Debtor which is directly relevant and necessary to evaluate the Debtor’s property, liabilities and financial condition.”
So here you have it. That drunken paper daisy chain of mortgages I told you about three years ago is now draped around the neck of the New York Fed. It’s crumbling into a mountain of paper, the refuse of a crazy bubble, that taxpayers will be morosely staring at for years to come.
Loans willy nilly spliced and diced and double and triple, maybe even quintuple counted, into an array of off-balance sheet vehicles, trusts, you name it, means this foreclosure mess won’t be sorted out for a decade or more. It means trying to foreclose on defaulters will be difficult because numerous parties can come forward claiming ownership.
Street analysts expect the Federal Reserve will start to sell its mortgage-backed securities in order to buy Treasury notes and bonds, in a bid to keep long term rates down. This is additional round of quantitative easing the markets expect the Fed to enact shortly, anywhere from $500 billion to $1 trillion total, with purchases ranging from $50 billion to $100 billion a month, as needed.
http://www.foxbusiness.com/markets/2010/10/19/mortgage-crisis-set-kick-higher-gear/
FYI everyone - Basser is on vacation and out of internet range. I'm sure he'll be glad to see today's press release when he returns. Better numbers quarter to quarter are always good news. Let's hope it becomes the trend.
........al
'This is the biggest fraud in the history of the capital markets'
Janet Tavakoli is the founder and president of Tavakoli Structured Finance Inc. She sounded some of the earliest warnings on the structured finance market, leading the University of Chicago to profile her as a "Structured Success," and Business Week to call her "The Cassandra of Credit Derivatives." We spoke this afternoon about the turmoil in the housing market, and an edited transcript of our conversation follows.
Ezra Klein: What’s happening here? Why are we suddenly faced with a crisis that wasn’t apparent two weeks ago?
Janet Tavakoli: This is the biggest fraud in the history of the capital markets. And it’s not something that happened last week. It happened when these loans were originated, in some cases years ago. Loans have representations and warranties that have to be met. In the past, you had a certain period of time, 60 to 90 days, where you sort through these loans and, if they’re bad, you kick them back. If the documentation wasn’t correct, you’d kick it back. If you found the incomes of the buyers had been overstated, or the houses had been appraised at twice their worth, you’d kick it back. But that didn’t happen here. And it turned out there were loan files that were missing required documentation. Part of putting the deal together is that the securitization professional, and in this case that’s banks like Goldman Sachs and JP Morgan, has to watch for this stuff. It’s called perfecting the security interest, and it’s not optional.
EK: And how much danger are the banks themselves in?
JT: When we had the financial crisis, the first thing the banks did was run to Congress and ask for accounting relief. They asked to be able to avoid pricing this stuff at the price where people would buy them. So no one can tell you the size of the hole in these balance sheets. We’ve thrown a lot of money at it. TARP was just the tip of the iceberg. We’ve given them guarantees on debts, low-cost funding from the Fed. But a lot of these mortgages just cannot be saved. Had we acknowledged this problem in 2005, we could’ve cleaned it up for a few hundred billion dollars. But we didn’t. Banks were lying and committing fraud, and our regulators were covering them and so a bad problem has become a hellacious one.
EK: My understanding is that this now pits the banks against the investors they sold these products too. The investors are going to court to argue that the products were flawed and the banks need to take them back.
JT: Many investors now are waking up to the fact that they were defrauded. Even sophisticated investors. If you did your due diligence but material information was withheld, you can recover. It’ll be a case-by-by-case basis.
EK: Given that our financial system is still fragile, isn’t that a disaster for the economy? Will credit freeze again?
JT: I disagree. In order to make the financial system healthy, we need to recognize the extent of our losses and begin facing the fraud. Then the market will be trustworthy again and people will start to participate.
EK: It sounds almost like you’re saying we still need to go through the end of our financial crisis.
JT: Yes, but I wouldn’t say crisis. This can be done with a resolution trust corporation, the way we cleaned up the S&Ls. The system got back on its feet faster because we grappled with the problems. The shareholders would be wiped out and the debt holders would have to take a discount on their debt and they’d get a debt-for-equity swap. Instead we poured TARP money into a pit and meanwhile the banks are paying huge bonuses to some people who should be made accountable for fraud. The financial crisis was a product of our irrational reaction, which protected crony capitalism rather than capitalism. In capitalism, the shareholders who took the risk would be wiped out and the debt holders would take a discount but banking would go on.
http://business-news.thestreet.com/link/?http://feeds.voices.washingtonpost.com/click.phdo?i=ecbee33f3feb3dd520e07264e11086db;;;http://business-news.thestreet.com/business/2010/10/08/a/708835705-this-is-the-biggest-fraud/;;;http://business-news.thestreet.c
I don't believe the MMs are playing games with this. It's usually not necessary with an OS this big. There are usually enuff swing traders and disgruntled longs to keep an adequate supply of shares in play. Add some of the large share holders throwing in a few here and there and more come in to play. Given what I have read in the Qs the market cap of the company is pretty close to right. A large block trading could cause blips in pps either way depending on buying or selling, but the key to a bigger market cap will be improving numbers on the Qs.
As an aside I do hope to see some pics of the convention also.
.......al
Hello all, old timer here. I was holding my shares and not selling because I didn't need the losses to offset gains. Had enuff losses from the market melt last2 years carrying forward. Now I'm glad I didn't need the losses. Now looking at long term capital gains. Let er rip.
..........al
Looking at what is happenning here I tend to agree. That 99% figure is what is scaring most investors away right now. Anyone that has had a R/S done to them in the past probably has a real bad taste in their mouth. It does explain the lack of interest in buying at present.
.........al
I'm in the camp that believes the gov't thru the FED is artificially supporting the stock market. With just about everything else going the wrong way if peoples' 401Ks and IRAs are at least looking decent there might not be as much grumbling about how bad it really is. With several trillion $$ on the balance sheet, 30 or 40 billion to pump the market is a drop in the bucket. JMHO
.........al
hate to see it but it looks like the dreaded reverse split words have taken the wind out of these sails. still holding and don't know how it will pan out but a very large majority of reverse splits, well over 90% as a good guesstimate, are not shareholder friendly. time will tell. hoping for the best but have doubts.
..........al