[QUOTE=ewmayer;325258]Those 2 bits are highly correlated - she'd be worth a lot less (in $ terms) if she ever cut the bullshit and asked some serious questions. Like most everyone else in the lapdog MSM, she is keenly aware that "fawning over royalty" pays.[/QUOTE]

I have to disagree with both of you. To the best of my knowledge, Oprah does not claim to be a journalist, she does not work for a news show/network. Oprah provides light entertainment, self-help, and human interest stories. She does her job well, built her empire from scratch - kudos to her.

A better example would be Baba Wawa who does claim to be a journalist and produces ever-so-enlightening shows like "Ten most interesting people...".

So the problem is the legions of people who think Oprah is a journalist. She certainly doesn't try to disabuse any of her millions of acolytes that she is not a journalist.

[QUOTE=garo;325321]So the problem is the legions of people who think Oprah is a journalist.[/QUOTE]

In a nutshell, yes. Anybody who tunes into Oprah or shows like Entertainment Tonight, and there probably are millions of them, thinking they are getting hard-hitting journalism on the important topics of the day is a bit of a fool.

[QUOTE=ewmayer;325613]The number of high-level prosecutions will of course remain stuck at zero[/QUOTE]It's not a criminal prosecution, but ProPublica reporter Jesse Eisinger just posted an article about one private lawsuit "brought in a New York State Supreme Court in Manhattan against Morgan Stanley by a Taiwanese bank" that has managed to get some document discovery.

"Explosive Charge: Morgan Stanley Peddled Security Its Own Employee Called ‘Nuclear Holocaust’"
[URL]http://www.propublica.org/thetrade/item/explosive-charge-morgan-stanley-peddled-security-its-own-employee-called-nu[/URL]

[quote]. . .

We are never going to have a full understanding of what bad behavior bankers conducted in the years leading up to the financial crisis. The Justice Department and the Securities and Exchange Commission have failed to hold big wrongdoers to account.

We are left with what scraps we can get from those private lawsuits lucky enough to get over the high hurdles for document discovery. [URL="http://iapps.courts.state.ny.us/webcivil/FCASSearch"]A case[/URL] brought in the New York State Supreme Court in Manhattan against Morgan Stanley by a Taiwanese bank, which bought a piece of the same deal the Chinese bank did, has cleared that bar.

The results are explosive. Hundreds of pages of internal Morgan Stanley documents, released publicly last week, shed much new light on what bankers knew at the height of the housing bubble and what they did with that secret knowledge.

The lawsuit concerns a $500 million [URL="http://topics.nytimes.com/top/reference/timestopics/subjects/c/collateralized-debt-obligations/index.html?inline=nyt-classifier"]collateralized debt obligation[/URL] called Stack 2006-1, created in the first half of 2006. Collections of mortgage-backed securities, C.D.O.'s were at the heart of the financial crisis.

But the documents suggest a pattern of behavior larger than this one deal: People across the bank understood that the American housing market was in trouble. They took advantage of that knowledge to create and then bet against securities and then also to unload garbage investments on unsuspecting buyers.

. . .[/quote]

Leave it to the party of (claim-to-be) strict constitutionalists to propose something (Senators don't get paid until they pass a budget) that violates the most recent amendment to the U.S. Constitution (or at least can't take effect during the current Congress).

"27th Amendment gets publicity in budget battle"
[url]http://news.yahoo.com/27th-amendment-gets-publicity-budget-battle-111609688.html[/url]

I just want to know how much Ewmayer dedicated to shorting Apple computer? It was an obvious huge short just 4 months ago when it hit $705 per share. It is still a huge short today at $450 per share.

DarJones

ZeroHedge is the Jim Cramer of the short side.

[QUOTE=ewmayer;327077]HFTs and Fed POMOs pushed DJIA > 14k today, "just to say we did it and support the 'all is well' meme". DJIA priced in the cost of most any real goods compared to 2007 highs tells a very different story. Despite today's Ecstasy-pill party on Wall Street, internals of the latest US employment data were quite ugly.[/QUOTE]

My question is you knew about the POMO. You knew that the Bernank would stop at nothing. How did your portfolio profit from this knowledge.

[SIZE="5"][SUP][SUP]The DOW closed above 14,000[/SUP][/SUP][/SIZE][attach]9231[/attach]

[QUOTE=ewmayer;327089]I was pointing out the ever-widening macro/market disconnects ... as far as my own cash, since the equity long side is supported almost entirely by CB-money-printing and "faith in the system" I have no intention of buying into this latest engineered bubble:
I assume your firm is long bearded financial patriarch futures?[/QUOTE]

Look if your contention is that [URL="http://en.wikipedia.org/wiki/WarGames"]"The only winning move is not to play"[/URL], I sympathize. But if you complain too much about POMO and CB-meddling it begins to sound like sour grapes. Like it or not, the stock market doubled in the last four years and you sat it out. Ask yourself if being right is more important than making money. (Full disclosure: I sat out most of the rally too.) The stock market is a game and the winners are the ones who make more money, not the ones that get their macro predictions right, ....eventually. As regards my firm, company policy prohibits comment.

Look nobody puts money in the stock market in order to lose money. I have very strong macro opinions but I'm trying hard - and mostly failing - to let them interfere with my plays in the stock market. If you want to complain about the economy, go right ahead. There is a lot that is wrong. While I disagree a lot less with Mr. K than you do, it is a discussion we can have in a civil fashion. But when you start complaining about the fake pumped up stock market, well you are fair game. You are a Mammonite too.