The Boil
It’s a lineup. You have to pick the guilty one.
Don’t worry, they can’t see you.
But… ohhh! They are all guilty!
“We live in a society that has a philosophical tradition that says that our behavior is primarily shaped by our external environments. When others suggest that our internal environments, our genes, also have the power to shape our behavior, we recoil away from those people and their ideas. It is most interesting to note that we do not have the same response to sociobiology when it is applied to other animals. We breed chickens and dogs to be more aggressive as a matter of course. One can hardly drive through South Louisiana on a Saturday night without running into a cock fight.”
Quotation from Sociobiology (Southern Arkansas University)
“Only by being guilty of Folly does mortal man in many cases arrive at the perception of Sense.”
Quotation from Herman Melville
July 30th, 2008 at 3:59 am
Things we do to save our own skin, and make ourselves feel important.
July 30th, 2008 at 5:23 am
ML are offloading $30-billion of debt at a rate of just 22 cents on the dollar!
What does it mean?
Let’s put it another way.
Assume the mortgages have a 90 percent failure rate!
You expect to get 10% or 10 cents in the dollar for those with adequate valuations plus only 12 cents for every 90 cents for those that are expected to go bad with lower valuations. Simply put market to market valuations leave the seller with what someone will pay, not with what they are worth. The bottom line is when you’re in the inenviable position of conducting a fire sale you get fire sale proceeds!! On top of that they announced a further write off of another $6-billion in mortgage-related write-downs in the current financial quarter. So it’s off to seek fresh capital in the form of a $9-billion cash injection, which I understand will be made up largely from a Singapore Government-owned fund.
Although house prices plunged another 16 per cent year ended May, I think there must come a time very soon when they will stabilize. At that time those same house market to market prices will be much more realistic.
Best wishes
Lindsaylobes last blog post..Checkered Shirts and Urban Skirts
July 30th, 2008 at 6:58 am
Capitalism’s a bitch, ain’t it. God I’m glad I’m out of investment bwanking.
Dolces last blog post..love at first site
July 30th, 2008 at 7:53 am
You just threw me back into a previous life
Scaramouche Joness last blog post..Masters of the Universe
July 30th, 2008 at 10:23 am
Love the Herman Melville quote.
July 30th, 2008 at 11:33 am
Smart one Sera!
I love the quote from Herman Melville, it is perfect!
Carolina Langes last blog post..Delicate Capelet
July 30th, 2008 at 12:06 pm
that´s so right
a kiss!
Kiras last blog post..Plastic shoes, why not?
July 30th, 2008 at 12:36 pm
Thank god my dad left Merill Lynch
molly @ fashionyous last blog post..
July 30th, 2008 at 12:36 pm
molly @ fashionyous last blog post..
July 30th, 2008 at 2:02 pm
The Federal Reserve ramped up its liquidity support operations again today in an effort to reduce money market strains and pre-empt the possibility of funding crises at the year-end or if another large bank bites the dust.
susans last blog post..shit from shinola beliefs
July 30th, 2008 at 11:32 pm
Everybody’s guilty of something.
kyknoords last blog post..But Johnny pushed me first
November 29th, 2008 at 2:16 pm
I really like what you had to say here! It\’s about time! Would you mind if I placed a link back from my blog?