I Plead the Fifth

 Reuters: Solyndra CEO, CFO will invoke 5th Amend rights, decline to answer questions at Congressional hearing Friday, per a letter

Sparks Fly!

Wow! Sparks fly when a ball hits Alex Avila's Mask!

Just a Matter of removing a lot of Zeroes

Why the US was downgraded...

U.S. Tax revenue: $2,170,000,000,000

Fed budget: $3,820,000,000,000
New debt: $ 1,650,000,000,000
National debt: $14,271,000,000,000
Recent budget cut: $ 38,500,000,000

Let's remove 8 zeros and pretend it's a household budget:


Annual family income: $21,700.

Money the family spent: $38,200.
New debt on the credit card: $16,500.
Outstanding balance on the credit card: $142,710
Other Loans: $450,000*

Total budget cuts: $385.


* US contingent Liabilies are about 2-5 times national Debt.


We are so in trouble.....

Banks Offered Deal in Robosigning Law Breaking

Banks offered Deal in robosigning law breaking.

Big US banks in talks with state prosecutors to settle claims of improper mortgage practices have been offered a deal that is proposed to limit part of their legal liability in return for a multibillion dollar payment.

The talks aim to settle allegations that banks including Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial seized the homes of delinquent borrowers and broke state laws by employing so-called “robosigners”, workers who signed off on foreclosure documents en masse without reviewing the paperwork.

This looks like a plea bargain to pay smaller fines for the robo-signing in order to get away with the vast, as yet uncharged fraud involving securitization.Many workers saw their savings lost and state pension funds were looted by the actions of the large financial institutions. This sounds like a wink and a nod to the latter.