Yes, yes I AM a stubborn bitch. BUT, I am a really smart one too, if I must say so myself .....
I'm going to have to leave most of the reading to you because I have to drive across the Bay and spend some of my dinero and walk around in my tight white Tampa Stalking tee ... and spread cheer an love..
but you remember how I'm chewing out the local bloggers, the alternate "news" collection AND the local media errrrrrr outlets(outlet now thanks to kevvie martin over at FCC)?? for not even TRYING to peer through the trees into the forest of LIES that those singing the financial crisis are plying??
I can't go and link you up but I CAN quickly prove the merit of my argument...
In the below articles who is able to pull funds from this slush fund of a money market??? yep. THE SAME FOLKS WHO ARE always rubbing antlers with charlie and jeb. (sorry reindeer) So, all the towns folks heads and school marms with their shiny A SCHOOL (elia) awards and backdoor bonuses were IN ON IT with Charlie, Jeb, Lehman Bros and etc.>>?
RIIIIIGGGHHHHTTTTT -- they went and pulled their money after they discovered the fund was 'tainted' with subprime debt. ROLLING RIGHT OVER ON THE FLOOR LAUGHING MY FINE ASS OFF. Check those cellphone records, check those emails ... check those phone records. Baby it was A PLAN. A STUPID PLAN but a PLAN nonetheless.
WHO is claiming she was unaware a. that our safe florida homes is thieving b. that Jeb Bush is a consultant (recent so it would be in the news and in the tally gossip) of lehman bros. where mr head financial crisis himself went and had secret meetings DAYS BEFORE the supposed run on the money market fund which lurched florida right in to this IMAGINARY fiscal crisis and opened the gate for the NEED FOR THEM GAMBLING DOLLARS, brother and sister sheep.
Read em and WEEP and don't EVER think that because I don't have time for long weighty prose that I do not know what the fuck I am talking about. If you ever KNOW I don't know what the fuck I'm talking about you had BETTER tell me. It has happened but that is NOT TODAY.
Alex Sink went way farther up in banking than I did and her ability to smell a rat here should be far more pronouned than mine. READ: SHOULD BE. Because it AIN'T is reason to really wonder and to keep an eye on her. SOrry about that, fellow Progressives but there is a certain hi-jacking going on in the Dem party as well as the Repub as well as the Greens. Buncha fuckin THUGS.
Bring the fucking gambling already. PAY ME ALREADY. AM I really holding the entire state of florida up and making LIARS OF ALL OF YOU and you STILL FUCKING THINK YOU ARE SAVING YOURSELF MONEY??? LO FUCKING L !!!! Incidentally, where else but in Tampa can you fuck up EVERYTHING BUT a wet dream and find yourself on the cover of a rag?? For NO apparent reason but who yo daddy is or ain't. Absolutely ludicrous. Zero respect.
Read on:
Troubled Florida investment fund lands top rating
BY DAVID ROYSE THE ASSOCIATED PRESS
TALLAHASSEE -- The part of the Florida's embattled investment fund for local governments that remains open received the best possible rating Friday from Standard & Poor's.
The rating, which was sought earlier this month by the State Board of Administration's trustees, could restore some faith in the investment pool, which had to be shut down for a week in November after a run on the fund. The run was caused by fears over the quality of certain investments in the pool that were tied to mortgages.
The state-managed fund works like a money-market account for cities, counties, school boards and other local governments, which can earn interest while putting their money in a highly liquid account that they can access to pay bills.
When the pool reopened after the run, its management was turned over temporarily to private investment firm BlackRock Inc., and the pool was split into two. The holdings in the pool that were deemed to be of high quality were put into "Pool A." The questionable investments, which if sold could result in a loss, were isolated into a walled-off "Pool B." That remains off limits to local governments, which cannot yet get at the 14 percent of their money that is still in that fund.
On Friday, Standard & Poor's gave Pool A its highest rating -- "AAAm" -- for local government investment pools. It did not rate Pool B.
Quiet Deals Preceded Run On State Fund
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By DAVID EVANS, Bloomberg News
Published: December 20, 2007
It was the first day of November and Coleman Stipanovich's world was coming undone. Florida school districts and towns had begun pulling their cash out of the $26 billion money market fund he supervised after they learned it held subprime-tainted debt.
Stipanovich, who earned $180,000 in 2006 as executive director of the State Board of Administration, was in New York in confidential meetings with Lehman Brothers Holdings Inc., the largest U.S. underwriter of mortgage-backed bonds. Lehman was proposing ways to help the state manage the risk of its debt investments, according to a letter the bank sent to Stipanovich after the meeting.
What Stipanovich hadn't told his boss, Florida Chief Financial Officer Alex Sink, was that Lehman Brothers was the same firm that had sold the state fund $842 million in mortgage-backed debt in July and August. Those securities defaulted within four months, and totaled more failing debt than any other bank sold the state, Florida records show. "At the time, I never knew it was Lehman Brothers that actually sold us these investments," Sink said.
Sink also was unaware that former Gov. Jeb Bush, who incorporated Jeb Bush & Associates in February, a month after completing his second term, had been hired as a consultant to Lehman Brothers in June.
'Do Something Quickly'
In November, school districts and local agencies that kept their cash in the state pool rushed to withdraw $12 billion, or 46 percent, of the money in the fund. On Nov. 29, the state froze the fund to stop all withdrawals. "If we don't do something quickly, we're not going to have an investment pool," Stipanovich told the board that day.
Until November, the Florida pool was the largest public money market fund in the United States. It held cash for about 1,000 school districts, towns and local agencies in Florida.
Stipanovich, who resigned Dec. 4, declined to comment for this article.
Sink is riled up about more than Stipanovich. She says JPMorgan Chase & Co. and Lehman Brothers were offloading tainted debt on Florida and other states at a time when those assets were plummeting in value.
The subprime meltdown made front-page news in June. During the next two months, Wall Street firms were quietly peddling mortgage-backed securities to the states.
And the states, eager for higher returns, were buying them.
"Lehman and the other big players in the market decided they didn't like this stuff in their own accounts," Sink said. "Where did they drop it and who did they dump it to? It looks questionable to me."
Joseph Mason, a former U.S. Treasury official and now a finance professor at Drexel University in Philadelphia, said Wall Street had few takers for its subprime-tainted debt. "When they couldn't sell it to more-sophisticated investors, they found less-sophisticated investors like local government investment pools," he says.
Lehman Brothers spokeswoman Kerrie Cohen said the bank had only good intentions. "The firm's No. 1 priority is to deliver first-rate products to our clients," she said. "We are disappointed when any security that is purchased by a client underperforms expectations."
JPMorgan Chase spokesman Joseph Evangelisti declined to comment.
Florida first revealed that close to $1 billion of its money market fund investments had been downgraded by credit rating companies on Nov. 1, after a month of inquiries by Bloomberg News.
States and counties run pools similar to money market funds to hold cash for school districts and local agencies. Most states require fund managers to make only short-term investments in debt such as U.S. Treasuries, certificates of deposit and corporate commercial paper, or short-term loans.
Strayed From Guidelines
Florida and other states have strayed from those guidelines in recent years, buying commercial paper from collateralized debt obligations, or CDOs, and structured investment vehicles, or SIVs. These investments are bundles of securitized loans, often loaded with subprime debt, which is why they offer higher returns than Treasuries.
They also hold greater risk of default.
Harvey Pitt, chairman of the U.S. Securities and Exchange Commission from 2001 to 2003, said state fund managers should have been savvier. "All of this could, and should, have been avoided by careful due diligence, constant reassessment of risk and paying close attention to market trends," he said.
Sink, who sits on a three-member board overseeing the Florida pool, says she didn't learn until Nov. 28 that New York-based Lehman Brothers had sold Florida most of its now default-rated commercial paper.
Gov. Charlie Crist and Attorney General Bill McCollum, who are also on the board, declined to comment.
On Dec. 12, Sink asked the audit committee of the State Board of Administration to determine who sold the pool the risky assets, whether any rules were broken and if managers made adequate disclosure once the fund's holdings had been downgraded.
Sink is upset that when Stipanovich went to New York on Nov. 1 to meet with Lehman Brothers, she thought the bank was an independent adviser to the state.
"If there's anything that raises my hackles, it's when the executive director said he was relying on Lehman Brothers' advice, when I had suggested that we might need an independent adviser to help us figure out how to deal with these issues," Sink said.
'Significant' Risk
Two years ago, Florida's pool held safer debt investments. On Sept. 30, 2005, 25 percent of the pool was invested in U.S. Treasuries and debt issued by U.S. agencies, the safest and most liquid debt sold. The rest was in short-term corporate commercial paper. Interest rates were low, and fund managers for about 100 such pools nationwide wanted higher yields.
The state gave Stipanovich and pool manager Michael Lombardi financial incentives of up to 8 percent of their annual salaries if they could increase returns for the state's pension fund.
Stipanovich, who ran the State Board of Administration, which manages $184 billion, was hired in 2000. He is the brother of J.M. "Mac" Stipanovich, a former political adviser to then Gov. Jeb Bush. Two of Coleman Stipanovich's three personal references came from top Bush aides.
Stipanovich, a Michigan State graduate, became a stockbroker and then a branch manager at Paine Webber & Co.'s Tampa office in 1986.
In August 1992, he settled a complaint filed against him by Florida's Division of Securities and Investor Protection. The agency found that, as a Paine Webber branch office manager, he failed to supervise a broker who sold unsuitable, money-losing investments to two retired cigar-factory workers.
Stipanovich left Paine Webber five months later to open his own investment company. It was dissolved in 2000 after Florida hired him.
The state promoted Stipanovich to executive director in 2002, overseeing management of Florida's pension fund and investment pool.
Jeb Bush, Consultant
In June, Bush and his new company won a consulting contract from Lehman Brothers, according to Lehman spokesman Randall Whitestone, who declined to say how much Bush is being paid.
In July and early August, Lehman Brothers sold Lombardi $603 million of commercial paper.
Lehman Brothers spokeswoman Cohen says there's no link between Bush and Lehman's sale of debt to Florida. "Bush is a member of the Lehman Brothers private equity advisory board and his company has been retained by the firm for consulting and advisory services," she said. The former governor declined to comment.
Craig Holman, of Washington-based nonprofit public interest group Public Citizen, disputes Lehman Brothers' view. "That defies credibility," said Holman, who lobbies for ethics in government. "It's a clear conflict of interest. Bush is a consultant to the company selling bad investments to the same agency on which he served as a trustee until January."
Countrywide's downgrade, and the decision to continue holding the debt, wasn't communicated to the pool trustees. Sink said it should have been. "Absolutely," she said. "That's why the executive director isn't the executive director anymore."
On Aug. 21, Sink's office asked Stipanovich if the pool's CDOs faced subprime risk. "None of these CDOs are backed by subprime mortgage loans," Stipanovich wrote in an e-mail reply the next day.
State records show the pool owned $234 million of paper issued by Buckingham CDO III on that date, holding 40 percent subprime collateral. "I think we were asking a lot of the right questions," Sink said. "We just weren't getting the right answers back."
For those running the Florida pool, the best hope is that the audit committee can sort out what went wrong and restore the fund's credibility and financial stability. If the committee doesn't, the state might have no choice other than shutting the pool down.
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"It gives us a very special, secret pleasure to see how unaware people are of what is really happening to them." - Adolf Hitler - Heated Discussion Firefighter vs Citizen pertaining to Fire Brigade abuse of tax dollars
Gang and Citizen Stalking
An interesting PUBLIC discussion pertaining to Firemen ABUSE OF PUBLIC FUNDS at FloridaToday.com.
Unlike THIS victim I have NO intention of keeping this information to myself. I warned warned and warned. Let the chips fall where they may. I think I've made it PRETTY CLEAR that I intend to reveal if it doesn't stop and instead they thought they'd scare me and DO MORE. That's their choice.
Additional Data on Gang Stalking in America and Elsewhere
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CRUCIAL ACTION: Contact the House Judiciary Committee and Nancy Pelosi TODAY. Don't wait. One click. The momentum is on our side and the world is watching. Bush cronies WORLD WIDE declaring martial law. Nation of GA, Pakistan, Burma ... Mexico's election illegal and then the flooding. GETTING THEM OUT OF THERE IS AN EMERGENCY. Believe this. And help a country out here.
A successful person is one who can lay a firm foundation with the bricks that others throw at him or her. David Brinkley
Get your ARREST BUSH Tshirt HERE!!
SQUELCH THE FCC's HIDDEN PLAN geez
Tampa Firemen and Other Firemen Fire Brigade: NeoNazis
Follow along with Tampa Stalking HERE.
Additional
data on GANG STALKING IN AMERICA and ELSEWHERE
KNOW WHERE YOU STAND AND STAND THERE
The DOCUMENTED TRUTH about Masons and Shriners (part of it )
Be the ONE MILLIONTH PERSON to sign the IMPEACH BUSH petition.
text "CHENEY" to 30644 to impeach him first, or text "BUSH" to 30644 to impeach him first, or text "BOTH" to 30644 if you think it would be strategically wise to go for the double play
The heart has it's reasons which reason knows nothing of.
*
We know truth, not only by reason, but also by the heart.
Blaise Pascal
Here's the last 25 messages on the Impeach Cheney matter
No Excuses : Email any rep in the country. Go ahead. They have to answer you; it's what you pay them for. Compel them to uphold their oath to protect the Constitution of the United States of America.
The lie was dead
And damned, and truth stood up instead.
Robert Browning
ANOTHER BUSH LIE
Also TEXT the word "TODAY" to 30644 to become part of the John Edwards campaign. Do it. He actually had rainbow bumper stickers. Kinda thoughtful.
I've saved some sunlight
if you should ever need
a place away from darkness
where your mind can feed.
from Rod McKuen's "I've Saved The Summer"
Our scientific power has outrun our spiritual power.
We have guided missiles and misguided men.
Martin Luther King, Jr. (1929-1968)
Make today COUNT.
Go to to find the phone numbers of your Senators and Representative.
Bill Nelson 202 224 5274
Kathy Castor 202 225 3376 (UPDATED NUMBER)
Mel Martinez 202224 3041
Send a letter to the
St.Pete TimesI don't care what you talk about but keep sending letters until they publish one. They're very selective with WHOM they publish because I see the same names over and over. Don't let a few people speak for ALL of us.
And
call your congressman and talk to her of
Inherent Contempt. Do it. And hug everyone you can reach.
North Jersey JUST DOIN it.Headlights to ImpeachTurn them ON. PlEaSe ! Help a country out here. Also, click the link to sign the petition. Takes three seconds.
Live Vote for ImpeachmentVote in the National Cheney Impeachment Poll Click Here Bush Business (two states moving to convene grand juries) Email your CongressmanCourt of Impeachment and War CrimesBrought to you
LIVE from THE TAMPA NAIL HOUSE ... : Proud members of the drive-by media (just like Thomas Paine, father of America)... located in the midtown desired redevelopment center just one block from the river.
The City of Tampa and it's assorted city-sanctioned gang members need this property because it's in the middle of land they intend to develop for gambling facilities.
LaS VEgas here in Tampa : Ta-Vegas or Tam-Gas.But it's going to cost YOU a helluva lot of money as they defend their criminal acts in federal court due to what they are doing to my family and I in
the process of attempting to steal our home.
Terrorist,"Cause" and Gang Stalking Perpetrated by Tampa Firemen and other Firemen -- revealed and written about.Some more threats from Tampa firemen (we'll just drive by your burning house if we know who you are) no kidding? I would NEVER have guessed that !
Stop Organized StalkingMore mention of Firefighter and Police participation in gang-stalking Technorati Tags
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