Posts Tagged ‘legislation’

TLP: Harry Reid Says Nevada Should Outlaw Prostitution, Gets Bitchslapped by Whores

Courtesy of Jr. Deputy Accountant

nevada prostitution

Did you hear the one about the politician and the hookers? Turned out to not be so funny. Maybe that was because he was trying to f#*k the hookers and take their money at the same time.

AP via The Huffington Post:

U.S. Sen. Harry Reid took aim at the world’s oldest profession Tuesday, telling state lawmakers the time has come to have an adult conversation about Nevada’s legal sex trade if the state hopes to succeed in the 21st century.

The Democratic Senate majority leader made the comments before a joint session of the Legislature as brothel owners and lobbyists – and working girls from the rural establishments – looked on from the gallery.

In his autobiography, Reid, a Mormon, wrote about growing up in the mining hamlet of Searchlight, Nev., and learning to swim in the pool at a bordello. His mother took in laundry from the 13 brothels around town.

But when the nation thinks about Nevada, Reid said, "it should think about the world’s newest ideas and newest careers – not about its oldest profession."

He received a smattering of applause when he first suggested Nevada outlaw bordellos. By the time he finished with the topic, his remarks were met with silence from the representatives of a state whose identity is woven tightly with gambling, alcohol, quick marriages and prostitution.

What did he expect? His own mother made money washing the dirty laundry from whorehouses. Everybody wants to get paid, Harry. At least one hooker who listened to the speech wasn’t shy about raising her pimp hand to the honorable senator.

More AP:

Brooke Taylor, a prostitute at Bunny Ranch east of Carson City, called Reid’s speech "offensive" and said Reid should be proud of the way the state’s brothels regulate the sex industry.

"We’re the first ones to do it right," Taylor said.

Don’t think this hooker doesn’t know what she’s talking about. As JDA reported last spring from Battle Mountain, Nevada, there are businesses in the state that could learn a few things from prostitutes. For free. 


Tags: , , , ,




The Subprime Debacle: Act 2

The Subprime Debacle: Act 2 

Courtesy of John Mauldin at Thoughts From The Frontline 

Trouble, oh we got trouble, Right here in River City! 
With a capital "T" That rhymes with "P" 
And that stands for Pool, That stands for pool.

We’ve surely got trouble! 
Right here in River City, 
Right here! Gotta figger out a way 
To keep the young ones moral after school! 
Trouble, trouble, trouble, trouble, trouble…

- From The Music Man

(Quick last-minute note: I think this (and next week’s) is/will be one of the more important letters I have written in the last ten years. Take the time to read, and if you agree send it on to friends and responsible parties. And note to new readers: this letter goes to 1.5 million of my closest friends. It is free. Now, let’s jump in!)

There’s trouble, my friends, and it is does indeed involve pool(s), but not in the pool hall. The real monster is hidden in those pools of subprime debt that have not gone away. When I first began writing and speaking about the coming subprime disaster, it was in late 2007 and early 2008. The subject was being dismissed in most polite circles. "The subprime problem," testified Ben Bernanke, "will be contained."

My early take? It would be a disaster for investors. I admit I did not see in January that it would bring down Lehman and trigger the worst banking crisis in 80 years, less than 18 months later. But it was clear that it would not be "contained." We had no idea.

I also said that it was going to create a monster legal battle down the road that would take years to develop. Well, in the fullness of time, those years have come nigh upon us. Today we briefly look at the housing market, then the mortgage foreclosure debacle, and then we go into the real problem lurking in the background. It is The Subprime Debacle, Act 2. It is NOT the mortgage foreclosure issue, as serious as that is. I seriously doubt it will be contained, as well. Could the confluence of a bank credit crisis in the US and a sovereign debt banking crisis in Europe lead to another full-blown world banking crisis? The potential is there. This situation wants some serious attention.

This letter is going to print a little longer. But…
continue reading


Tags: , , , , , , , , , , , , , ,




Foreclosuregate: Time to Break Up the Too-Big-to-Fail Banks?

Ellen Brown makes a compelling case for using the Kanjorski amendment to preemptively break up large financial institutions because they pose a threat to our economic stability. - Ilene 

Foreclosuregate: Time to Break Up the Too-Big-to-Fail Banks?

With risky behavior by big finance again threatening economic stability, how can we get things right this time?

Courtesy of 

Originally published in YES! Magazine    

Looming losses from the mortgage scandal dubbed “foreclosuregate” may qualify as the sort of systemic risk that, under the new financial reform bill, warrants the breakup of the too-big-to-fail banks. The Kanjorski amendment allows federal regulators to pre-emptively break up large financial institutions that—for any reason—pose a threat to U.S. financial or economic stability.

Although downplayed by most media accounts and popular financial analysts, crippling bank losses from foreclosure flaws appear to be imminent and unavoidable. The defects prompting the “RoboSigning Scandal” are not mere technicalities but are inherent to the securitization process. They cannot be cured. This deep-seated fraud is already explicitly outlined in publicly available lawsuits.

There is, however, no need to panic, no need for TARP II, and no need for legislation to further conceal the fraud and push the inevitable failure of the too-big-to-fail banks into the future.

Federal regulators now have the tools to take control and set things right. The Wall Street giants escaped the Volcker Rule, which would have limited their size, and the Brown-Kaufman amendment, which would have broken up the largest six banks outright; but the financial reform bill has us covered. The Kanjorski amendment—which slipped past lobbyists largely unnoticed—allows federal regulators to preemptively break up large financial institutions that pose a threat to U.S. financial or economic stability.

Rep. Grayson’s Call for a Moratorium

The new Financial Stability Oversight Council (FSOC) probably didn’t expect to have its authority called on quite so soon, but Rep. Alan Grayson (D-FL) has just put the amendment to the test. On October 7, in a letter addressed to Timothy Geithner, Shiela Bair, Ben Bernanke, Mary Schapiro, John Walsh (Acting Comptroller of the Currency), Gary Gensler, Ed DeMarco, and Debbie Matz (National Credit Union Administration), he asked for an emergency task force on foreclosure fraud. He said:

The liability here for the major banks is potentially enormous, and can lead


continue reading


Tags: , , , , , , , , , , , , , ,




Healthcare Reform Sausage Not Fit For Consumption

Healthcare Reform Sausage Not Fit For Consumption

Courtesy of Mish  

Reverse of trade card

As healthcare "reform" heads for passage, president Obama will soon have bragging rights for getting legislation passed that no one has before.

Although the Senate and House versions are different, the odds are something will pass. Moreover the odds are very high the final bill will resemble legislation passed by the Senate.

Senate House Clash

Please consider Senate Democrats Move Toward Clash With House on Health Measure

Senate Democrats, after securing a hard-fought Christmas Eve victory on health-care legislation, now move toward a battle over taxes and other issues with the U.S. House as lawmakers look to merge their differing bills.

The two chambers took different paths toward covering tens of millions of uninsured Americans. And when they begin reconciling their measures next month, they’re likely to clash over issues that include whether to set up a new government-run insurance program to restricting federal funds for abortion.

Finding agreement on financing the legislation “may be the toughest of all,” said Senator Charles Schumer, a New York Democrat.

The House adopted a 5.4 percent income surtax on individuals earning more than $500,000 and couples earning over $1 million to pay for its $1.05 trillion bill. Senate Democrats would fund their $871 billion bill, which passed on a final vote of 60-39 yesterday, in part by placing a 40 percent excise tax on the costliest health-insurance policies. That provision is opposed by labor unions, which are among the party’s strongest backers.

Because it required all 58 Senate Democrats and two independents to stick together to get the 60 votes needed to secure passage of the chamber’s health-care bill, Thurber said it’s likely the Senate will win out on most issues. “The narrow majority in the Senate makes it almost a necessity to go with the Senate position,” Thurber said.

House negotiators “will have to capitulate on most main differences,” agreed Rogan Kersh, a public policy professor at New York University.

Drugmakers including Whitehouse Station, New Jersey-based Merck & Co. have a number of fights on their hands. Lawmakers are pushing for the industry to spend more than the $80 billion that it promised to help patients in the Medicare program for the elderly afford prescription drugs.

Negotiating Power

The House measure calls for the government to capitalize on its buying power to


continue reading


Tags: , , , , , ,




 
 
 

Zero Hedge

1 In 4 Millennials Rely On Their Parents To Pay Some Bills - Even While Working Full Time

Courtesy of ZeroHedge. View original post here.

Time and time again, we've discussed how America's millennial generation is burdened by debt, effectively precluded from home ownership and increasingly ...



more from Tyler

Digital Currencies

"The House Always Wins": These Funds Made A Killing As Bitcoin Plunged

Courtesy of ZeroHedge. View original post here.

Volatility, neutral exposure and market making can still pay - at least for crypto hedge funds.

Despite the fact that cryptos have collapsed across the board so far in 2018, one investing axiom still holds true to this day: the house always wins. Those who have been making a market, keeping neutral net exposure and benefiting from exotic methods of trading cryptocurrencies have continued to have a positive year this year despite the fact that a lot of the underlying cryptocurrency assets have had a terrible year.

...



more from Bitcoin

Phil's Favorites

#DeleteFacebook is still feeding the beast - but there are ways to overcome surveillance capitalism

 

#DeleteFacebook is still feeding the beast – but there are ways to overcome surveillance capitalism

Not creepy at all. antb / Shutterstock.com

Courtesy of Yuwei Lin, University of Stirling

In the wake of the Cambridge Analytica scandal, many people are questioning whether or not to delete their Facebook accounts. It’s not the first time this has happened. I can’t recall how many times I have seen calls to boycott Facebook – on Facebook – ever since I started using the social media platform.

But many peopl...



more from Ilene

Insider Scoop

Cowen Says The Big Sell-Off In Skechers Is A Buying Opportunity

Courtesy of Benzinga.

Related SKX 25 Stocks Moving In Friday's Mid-Day Session Mid-Day Market Update: Skechers USA Falls After Weak Q2 Guidance; Ericsson Shares Climb...

http://www.insidercow.com/ more from Insider

Chart School

Short Opportunity II

Courtesy of Declan.

The first chance for a short play got burned but there is a second one on offer for the S&P.

The S&P tagged channel resistance and while today's reversal off resistance didn't amount to a big percentage loss it did register as a distribution day. There wasn't any significant technical change so if this short does evolve it will do so with risk measured on a move above 2,717.


The Nasdaq may match a 'bearish evening star' but if this is the case there has to be a significant move lower tomor...

more from Chart School

ValueWalk

Buffett At His Best

By csinvesting. Originally published at ValueWalk.

Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS...



more from ValueWalk

Kimble Charting Solutions

The Stock Bull Market Stops Here!

 

The Stock Bull Market Stops Here!

Courtesy of Kimble Charting

 

The definition of a bull market or bull trends widely vary. One of the more common criteria for bull markets is determined by the asset being above or below its 200 day moving average.

In my humble opinion, each index above remains in a bull trend, as triple support (200-day moving averages, 2-year rising support lines, and February lows) are still in play ...



more from Kimble C.S.

Members' Corner

Cambridge Analytica and the 2016 Election: What you need to know (updated)

 

"If you want to fundamentally reshape society, you first have to break it." ~ Christopher Wylie

[Interview: Cambridge Analytica whistleblower: 'We spent $1m harvesting millions of Facebook profiles' – video]

"You’ve probably heard by now that Cambridge Analytica, which is backed by the borderline-psychotic Mercer family and was formerly chaired by Steve Bannon, had a decisive role in manipulating voters on a one-by-one basis – using their own personal data to push them toward voting ...



more from Our Members

Biotech

How your brain is wired to just say 'yes' to opioids

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

How your brain is wired to just say ‘yes’ to opioids

A Philadelphia man, who struggles with opioid addiction, in 2017. AP Photo/Matt Rourke

Courtesy of Paul R. Sanberg, University of South Florida and Samantha Portis, University of South Florida

...

more from Biotech

Mapping The Market

The tricks propagandists use to beat science

Via Jean-Luc

How propagandist beat science – they did it for the tobacco industry and now it's in favor of the energy companies:

The tricks propagandists use to beat science

The original tobacco strategy involved several lines of attack. One of these was to fund research that supported the industry and then publish only the results that fit the required narrative. “For instance, in 1954 the TIRC distributed a pamphlet entitled ‘A Scientific Perspective on the Cigarette Controversy’ to nearly 200,000 doctors, journalists, and policy-makers, in which they emphasized favorable research and questioned results supporting the contrary view,” say Weatherall and co, who call this approach biased production.

A second approach promoted independent research that happened to support ...



more from M.T.M.

OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



more from OpTrader

Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



more from Promotions

All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

more from David





About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

Learn more About Phil >>


As Seen On:




About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>