Sunday, March 21, 2010

Pres. Obama: The smoother, smarter version of Bush Jr

I had hoped Obama wouldn't confirm my suspicions. And he has, in spades. (Too soon to pun? Okay.)

From Firedoglake:

"Edward Horgan, a well-known Irish activist and former Irish Defense Force officer, has had his 10-year, multiple-entry U.S. visa revoked without explanation. Horgan and others believe it is because of his principled stand against the U.S. use of renditions, and in particular, the use of Shannon Airport in western Ireland as a stopover for U.S. rendition flights. The Obama administration should be ashamed for its behavior in keeping Mr. Horgan from entering this country."

Obama's State Dept. pulled it on St. Patrick's Day. Those f*ckers have a sense of humor, don't they?

Thursday, March 11, 2010

Today's word is COLORABLE

Here's a handy little word: colorable.

According to Webster's:

1. capable of being colored; 2. seemingly valid, true, or genuine; plausible; 3.
pretended; deceptive

1400–50; late ME

Example of colorable:

The Examiner concludes that colorable claims of breach of fiduciary duty exist against Richard Fuld, Chris O’Meara, Erin Callan, and Ian Lowitt, and that a colorable claim of professional malpractice exists against Ernst & Young.

Thursday, March 04, 2010

Goldman Sachs has feelings too

GS's 10-K filing on 3/01/2010 below, with clarifying commentary thrown in for free (just doing God's work here):

Substantial legal liability or a significant regulatory action against us, or adverse publicity [talking about you, Zero Hedge], governmental scrutiny or legal and enforcement proceedings regardless of the ultimate outcome [Regardless of outcome - so don't inititate in the first place, or else], could have material adverse financial effects, cause significant reputational harm to us or adversely impact the morale and performance of our employees [and we can't stress enough, all of whom are doing God's work, not like those heathens at CME Group], which in turn could seriously harm our businesses and results of operations [We had 131 $100mln days in 2009, and we're shooting for 132 days in 2010]. We face significant legal risks in our businesses, and the volume of claims and amount of damages and penalties claimed in litigation and regulatory proceedings against financial institutions remain high. Our experience has been that legal claims by customers and clients increase in a market downturn [Which is odd since we make even more money in the downturns] and that employment-related claims increase in periods when we have reduced the total number of employees [like how we said layoffs without saying layoffs?]. For a discussion of how we account for our legal and regulatory exposures, see “— Use of Estimates” below. ["Use of Estimates" is code for "go f*ck yourself."]