Wednesday, April 21, 2010

Asian markets are taking a pretty good hit tonight as the yen has strengthened. The pattern lately has been a big drop in Asia, smaller drops in Europe and then flat markets in the US. We'll see if the pattern holds....

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So the financial reform train is heading to a town near you. Let's be clear - if you thought the healthcare debate was excessively complicated (and it was) any legislation crafted by a bunch of lawyers trying to understand the rules of the game on Wall Street is destined to be convoluted, complex and full of loopholes. Since it is clearly too hard to write legislation like "LEVERAGE SHALL NOT EXCEED 5 times ASSETS", it's time to bring in the lobbyists.

I don't buy into this author's Dem vs. Republican arguments but he does a good job of surmising Wall Street's goals and why they are spending up to $400million on the lobbying effort.

"Wall Street's goals are simple: Water down the Dodd reforms enough so that Wall Street can continue to:

(1) evade securities laws
(2) avoid taxes
(3) minimize capital requirements
(4) increase leverage
(5) hide speculative risks
(6) maximize short-term profits
(7) avoid stockholder disclosures
(8) manipulate regulators.

Expect surface change, but little of substantive. Why? Wall Street needs to continue running the same scam on taxpayers in order to get their mega-bonuses."

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In other news that no one seems to care about anymore...

The yield on Portugal’s 10-year bond jumped 11 basis points to 4.80 percent ... That left the difference in yield, or spread, with bunds 11 basis points wider at 166 basis points, after earlier reaching 172 basis points, the most since March 10, 2009. Greek 10-year bonds dropped ... sending the yield up 20 basis points to 8.17 percent.

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Thankfully, someone has actually done the math on THE DOUBLE DOWN from KFC because KFC felt we couldn't handle the truth.

KFC says the Double Down is 540 calories and just 32 grams of fat. However as some have pointed out that a single fried chicken breast has 360 calories and 21 grams of fat.

Add in ....

2 x 1 oz slice of “Monterey Jack and pepper jack cheese” at 100 calories, 9 grams of fat each, comes to 200 calories and 18 grams fat…

1 squirt of sauce 100 calories and 10 grams of fat (even by KFC’s calculations) and the Double Down is hit twice as you can see in the picture, comes to 200 calories and 20 grams fat…

2 strips bacon, equals 70 calories and 6 grams of fat…

For a grand total of 1190 calories and 86 grams of fat!"

Sweet!

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BTW: It's getting warmer again and my road bike is back off the wall. Just a reminder to share the road and keep an eye open for cyclists on rt 12. If you see someone sporting some sick new blue tires that's probably me (fwiw -- I bought the blue tires not as a fashion statement but b/c they were on clearance :)

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