Saturday, December 6, 2008
Rent in my neighborhood still exceeds $1000 (that's per person)
The value of my Bachelors Degree finally increased
"Hooking" as an attractive occupation if faced with the threat of lay-offs (meet me at the St. Regis)
Independent stores in New York that have survived the Savings and Loan Crisis and Recession in the 80s and 90s are finally forced to close down
Please read this and re-visit the site, often
"Low Low Prices" at Wal-Mart have driven people in Long Island to reach a new low, can we please detach that place from New York and send it on over to Mumbai
Forcing people to look at a Nativity scene, and not allowing a placard extolling the Winter Solstice to be placed near it is of high importance to some Olympians
Saturday, November 22, 2008
Started the FDIC
Brought about banking reforms to control speculation (the assumption of the risk of loss, in return for the uncertain possibility of a reward)
Established Regulation Q: put interest ceilings on savings accounts, zero interest for checking, and promoted the emergence of N.O.W. and Money Market accounts -the Depository Institutions Deregulation and Monetary Control Act of 1980 later repealed Regulation Q
Established the allocation of currency by the Federal Reserve for the first time ever
Separated bank types: Commercial banking (individuals, small business, large organizations) vs. Investment banking (corporations and municipalities- use of securities)
Arguments for keeping it around:
1)Preventing the same institution from granting credit, setting up provisions for the use of credit, lending, and investing.
2)Depository institutions already have control over other people's money, this act would limit their activity in the market for funds (loans or investments) to ensure stability and healthy competition
3)Securities can bring about substantial losses, and as a result, jeopardize the value of deposits. Since those deposits are guaranteed by the FDIC, government must cough up our money. ***Remember government cannot create money, it can only re-assign (earmark) it
4)Depository Institutions are supposed to manage(minimize) risk.
This act was repealed in 1999 by the Gramm-Leach Bliley Act.
Friday, November 7, 2008
Co-Author of The Plan: Big Ideas for America(2006)
Brother of Ari Emmanuel - Hollywood Agent (think Jeremy Piven & Entourage)
Choreographed the handshake (1993 Rose Garden signing ceremony for the Oslo Accords) between Israeli Prime Minister Yitzhak Rabin and PLO leader Yasser Arafat
Not afraid to put some rotten fish in your mailbox
1998- 2002 Post-White House: Investment banker at Wasserstein Perella (Dresdner Kleinwort)
Made $16.2 million as an Investment banker
Served on the Board of Directors for the Federal Home Loan Mortgage Corporation (Freddie Mac)
Resigned from his Freddie Mac board position to run for Congress in 2001
Pledged in 2006 to support Hillary for the Presidency, but felt torn when Barack told him that he was going to run
Top House recipient in the 2008 election cycle of contributions from hedge funds, private equity firms, and the larger securities/invesment industry
Almost chopped his finger off working for Arby's as a youth
* Let's hope that healthcare is his number one priority and bailing out the financial industry isn't.
Monday, October 6, 2008
I haven't read it all just yet, but jeez, who wrote this man's prepared testimony? There's no way he didn't know for quite some time that his company was going for bust.
Born and raised in New York
M.B.A at NYU's Stern School of Business
ATO frat boy for undergrad at CU-Boulder
Worked for Lehman Brothers for 40yrs
Leader of Lehman Brothers for 15yrs
Served on the Board of Directors for Federal Reserve Bank of New York and the Robin Hood Foundation (It Ain't Right!)
Served on the Board of Trustees for Middelbury College and New York Presbyterian Hospital
Forbes ranked #11 in 2008 for CEO compensation
During questioning by Rep. Henry Waxman it was found that:
Since 2000, He has taken home more than $480 million dollars in company profits
He claims that *for the years that Henry Waxman was asking him about* his cash compensation was *only* close to $60 million, and the rest of what he took out under his options was *only* $250 million - avoiding correction of any actual figures Congress had up on the screen for his compensation
Sunday, October 5, 2008
"create unnecessary regulatory burden" -OR- Freddie Mac and Fannie Mae to lend financial backing, the chance for government to make(lose) money in the financial sector, and making up a CRA rating system for banks so government could provide an illusion of accountability.
Think about it kids.
Thursday, October 2, 2008
*Famous quotes taken from CNN (and the V.P. candidates)
Palin said Obama and company do "too much finger-pointing" to stay true to their focus of change
"There have been huge blunders in the war. There have been huge blunders throughout this administration, as there are with every administration"
"But for a ticket that wants to talk about change and looking into the future, there's too much finger-pointing backwards to ever make us believe that's where you're going," she said.
Biden responded with, "Past is prologue."To which Sarah Palin responded: "The Bush administration opened up access to the Tongass Forest earlier this year to private corporations to build new roads which will sustain jobs and subsistence for the residents of Southeast Alaska, so I too am Pro-Log."
Sunday, September 28, 2008
Q. When can I bank at Chase branches in my area?
A. We'll be working hard to combine systems as quickly as possible so you can begin to enjoy expanded branch convenience in your area, and we expect system changes to begin late next year. We'll let you know in advance of any changes; in the meantime, simply continue to bank at WaMu branches as you do today.
Q. Why is it going to take a full year for me to be able to use Chase branches for simple things such as an atm withdrawal, since they bought you out? There are so many Chase branches in the city!
A. Chase still wants to be able to collect that $3.00 convenience fee for another year in case you have to use a Chase ATM, and we will still be able to charge you $1.00 for using another financial institution's ATM machine.
Wednesday, September 24, 2008
David Blaine said 60 hours straight. He takes breaks every 45 minutes... I saw him standing with my own 2 eyes (drinking water and peeing in a cup - he should've gone to the bathroom like a decent person at that point)
Even Jews can't get a steady job nowadays, tutoring/babysitting/catering barely pays the Upper Westside rent
Lame NYU kids overcrowding shows at Webster Hall
ATM receipt of Wall Street banker balance reads: $97, 084.23
Everyone I know is living paycheck to paycheck!!!
AIG commercials are still running
I haven't been shopping in the LONGEST time
Wednesday, September 17, 2008
Please match the following lettered description with the corresponding numbered quote below:
a)Governor that is running for 5th grade Student Council President
b)Senator that is the only candidate offering real solutions and sticking to the topic
c)Senator that is still using 911 as a crutch
1)"We're going to put an end to the reckless conduct, corruption, and unbridled greed that have caused a crisis on wall street and America, we're going to put a stop to it."
"We have to assure every American that their deposit in a bank is safe, we have to have a 911 commission and we have to fix this alphabet soup of regulatory agencies that's left over from the 1930s...."
2)"We also need serious reform on Wall Street and John McCain is the guy who will get it done"
"With your vote we're going to Washington D.C. to shake things up"
"His tax plans really would kill jobs, and hurt small businesses and make even today's bad economy, look like the good ol' days"
3)"Senator McCain offered up the oldest Washington stunt in the book. You pass the buck to a commission to study the problem. Now here's the thing, this isn't 911, we know how we got into this mess, what we need now is the leadership to get us out..."
Yes kids, I couldn't sleep and here I am giving you breaking news if anyone actually reads my blog-
U.S. Embassy in the capital Sana'a of Yemen was reported to have a car bomb explosion and gunfire just outside of it.
Witnesses report some casualties, more details will be given in the morning
This is not the first time the U.S. embassy in Sana'a has been attacked, the last attack was about 1 yr. ago
A full google map zoom-in of the area was given on CNN, but no indication of explosions or gunfire during the zoom-in.
Tuesday, September 16, 2008
I remember our financial group sales manager at the hotel freaking out, because a lot of the companies were starting to back out of the future meeting deals they were planning with us. A lot of these were off-site meetings (office was based in NYC, but staying at some hotel in NYC and renting out event space with catering). We're talking weekly or monthly meetings in the 6-7 figure range all in the name of celebration or "business."
The only thing I could really pick up on, since I don't really understand economy jargon, was the repetition of, "In the event of the collapse of a company, the fed (Federal Reserve) will be there to step in and monitor liquidity (lend some financial backing) to the company, the company remains as a player and the economy in turn will continue to be stimulated."
One month later after the Bear Sterns (JP Morgan merger) rescue, I was laid off from my position at the hotel (that lost a lot of money from financial company meeting pull-outs and an overall hit to the economy).
Six months later: The Fed to loan AIG up to 85 Billion. I guess that guy was only half right.
Monday, September 8, 2008
Location: Union Square
Behavior: Leaning on a post and breathing heavily in between the loud and tone-deaf lines of song
Defining Characteristics: Overall bland appearance, glasses, generic polo shirt, light blue regular-fit Lee jeans, side part, earphone only in one ear in case applause follows
Song of the night: "You Go to My Head" (most likely the Frank Sinatra recording - not Brian Ferry's rendition)
*3 credit cards and your ConEd Bill is sufficient I.D. for TSA at MCO
Friday, August 29, 2008
Sarah Palin sure does sound "like a rock" hard conservative, and American political catch-phrases are borderline Chevy commercial material.
Attention Disenfranchised Billary's! : Do not let Sarah Palin's Miss Congeniality appearance and the fact that she is a woman inveigle your otherwise Dem vote record to the dark side!
She is the Ice Queen of
Tuesday, August 19, 2008
Location: The 4-5 Fulton Street Stop downtown Manhattan
Defining Characteristics: Beard, Glasses, Fingerless Black Gloves
Behavior: Walking down the stairs backwards while covering his eyes for added difficulty
"Cut her vagina hole"
"Cut off his penis"
"Break your legs"
"Double fuck your asshole"
Wednesday, August 13, 2008
Tuesday, August 12, 2008
It's that time of year again for back to school and increased random searching. The NYPD is looking for the approval to perfom searches on anyone and through anything that travels down Church street between Liberty and Chambers streets downtown for security purposes. If approved, they will be able to stop any automobile and any suspicious
Here is a list of actions and items not allowed in the area and are subject to questioning and confiscation:
Scissors, Razors, and Switchblades
Unpatriotic Loaded Words
Hairspray and Deodorant
Shorthand Texting and/or IMing
Lighters and Matches
Containers with more than 1 oz of liquid in it
Shifty eyes, sweaty palms, and long goatees
Any flags that are not the American flag
Thursday, July 31, 2008
Heels at McCarren
Line for MGMT past the BQE
3 different bars in East Williamsburg in the same night and all 3 bars playing the MGMT Kids song
More than 5 minute wait for 4/5/6
Not being able to wake up before 12:30pm for the entire month of July
Smoking cigarettes at indoor venues
Tacky French men on ecstasy dancing/blocking your view of Sebastien
Thursday, July 24, 2008
5 Reasons to Consider O'bama for the Presidency:
1) He may or may not have lied about a thesis he wrote – “Soviet Nuclear Disarmament,” which was supposedly written around the height of the cold war. He proved that no one really cares about what you studied in college and you can half-lie or make things up if you wait 25 years to talk about it.
2) He used to smoke cigarettes and use other substances as a young adult in college (just like me and you), and has publicly declared it (unlike me and you).
3) He exercises twice a day to stay fit for the campaign trail and his workout routine makes headline news.
4) He knows that the majority of Middle America won’t vote for a black man, so he decided to not waste time there and went to Berlin to appeal to the Germans instead. (And: Afghanistan, Iraq, Jordan, Kuwait, Israel and the Palestinian territories – soon France and the G.B.)
5) Made Ebony Magazine’s list of “The Top 25 Coolest Brother’s of All Time” - among the ranks of Prince, Jay-Z, Samuel L. Jackson, and Denzel.
Tuesday, July 22, 2008
Please be advised there may be extended hours of construction as part of the Ground Zero rebuild which is adjacent to the hotel. Some streets may be closed at times to vehicles due to construction...