Monday, August 23, 2010

Frederic Mishkin - Corrupt Imbecile

Over the weekend while out of town, I caught quite the interesting piece of news via the cats over at Zero Hedge and blogger W.C. Varones. It seems former Fed governor and current professor at Columbia University Federic Mishkin is not only an first rate imbecile, he is on the take as well, making him a completely corrupt imbecile at that.

For those unaware Mishkin wrote a fawning report on Iceland titled 'Financial Stability in Iceland' back in 2006. At some point between then and now the reports title was changed to 'Financial Instability in Iceland.'

I guess the bright professor thought no one would notice. In addition to this slight, let's just call it a typo for now, it seems the highly decorated pundit and professor failed to disclose that he was paid the sum of $124,000 by the Icelandic Chamber of Commerce to pen said glowing report.

Take a moment and watch the segment of the interview of Mishkin here it's less than 2 minutes.

Note how this parasite Mishkin squirms as the questions get more direct.

First off I want to ask who is the interviewer asking the questions and why is he not employed as an anchor with CNBC? Wait a second..... I know why, because he asks questions someone with half a brain would want answered that's why, which is most definitely NOT what CNBC is after. Sellin' the hope right guys !

Please note the part of the interview with Glenn Hubbard, Dean of Columbia's business school. In particular the line of questioning regarding one's omission of the part about compensation in a published paper. "Significant professional sanctions" huh Dean Hubbard,you're too funny. Makes you eminently qualified to run the SEC pal. Actually, Dean Hubbard should send the video over to Columbia's School of Journalism as a study guide to show students how an interview is to be conducted properly.

The way things are I would bet dollars to doughnuts Mishkin now gets appointed Dean of the business school now. Better yet, I bet the over he gets appointed to Christine Romer's old position as chair of the Presidents council of economic advisers. Bizarro world for sure!

Please do watch the interview as it goes a long way to explaining why we are in this mess. Not only are those in charge, lights out stupid, they are in serious positions of policy influence and are on the take everywhere and always.

We simply don't stand a chance while thugs like this are at the helm or still being listened to plain and simple.
None of the "those in charge" group can be trusted. We must purge the entire lot even if that means some good ones get lumped in with them. Cancerous entities must be severed completely destroyed if the host is to survive.

For those wondering "is he on your All-Imbecile Team"? Of course he is, but this is getting serious now.

I returned last evening from a wonderful weekend in Little Rock Arkansas where my nephew was married. It was my first visit to the city and a wonderful time was had by all though it was extraordinarily hot there. The fellas all had some time to kill Saturday afternoon and someone suggested we go see "The Expendables".

Now I am no movie critic but you can all do yourselves an enormous favor and skip this piece of garbage. To call it horrible would be a massive understatement. Stallone, Willis, Schwarzenegger should be ashamed for appearing in it. The Expendables now gets added to the Worst Flicks of All Time list.

The movie itself was simply expendable, case closed.

Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $60.30
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $52.60
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $22.52
Long 1 unit ishares Barclays 20yr Treas ticker TLT @ 92.15 stop @ $92.15
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Short 1 unit Apple ticker AAPL @ $275.20 stop @ $266.50

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