Cake or Death: I never thought I'd be a fan of Joan Rivers...

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September 18th, 2007

Fed Cuts Benchmark Rate Half Point, Seeking to Forestall Recession in U.S. - "The Federal Reserve lowered its benchmark interest rate by a half point to 4.75 percent, the first cut in four years, to protect the U.S. from sinking into a recession sparked by fallout from the housing-market collapse. 'Today's action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets,' the Federal Open Market Committee said in a statement after meeting today in Washington. The central bank will 'act as needed to foster price stability and sustainable economic growth.' Stocks surged, two-year Treasury notes rose and the dollar fell to a record low against the euro. The larger-than-forecast reduction suggests Chairman Ben S. Bernanke is prepared to leave himself open to criticism that he's rescuing investors from bad decisions for the sake of saving the six-year expansion."
U.S. Producer Prices Drop More Than Forecast; Foreclosures on Homes Double - "The 1.4 percent decrease, the biggest since October, followed a 0.6 percent increase in July, the Labor Department said today in Washington. So-called core prices, which exclude fuel and food costs, rose 0.2 percent after a 0.1 percent gain the month before. Slower inflation gave policy makers room to cut their benchmark rate today in an effort to sustain the expansion in the face of a housing recession. A drop in fuel expenses pushed prices down in August and cooling economic growth will continue to restrain raw-material costs, economists said."

September 14th, 2007

U.S. Retail Sales, Output Rise Less Than Forecast, Adding to Rate-Cut Case - "The 0.3 percent increase in sales during August followed a revised 0.5 percent gain in July, the Commerce Department said today in Washington. Purchases excluding automobiles unexpectedly fell 0.4 percent. Production gained 0.2 percent, with factory output declining for the first time since February. While a report from the University of Michigan and Reuters Group Plc showed consumer confidence increased, their sentiment index remained near the lowest level in a year. Treasury notes rallied after the retail sales and production reports, before losing the gains."

September 13th, 2007

Greenspan Says He Didn't Foresee Credit Rout, Endorses Bernanke, CBS Says - "Current Fed Chairman Ben S. Bernanke 'is doing an excellent job,' Greenspan said in an interview on the 60 Minutes program, according to excerpts e-mailed by CBS today. The show is scheduled to air on Sept. 16, a day before the publication of Greenspan's book, 'The Age of Turbulence.' The remarks come amid criticism among some investors that Bernanke has failed to be as forceful as his predecessor in responding to financial turmoil. Greenspan in 1998 cut interest rates three times after a Russian debt default rippled through global markets. Bernanke's Fed has refrained from lowering its benchmark so far, relying on other tools to provide liquidity."
Commercial-Paper Market Decline in U.S. Slows as Concerns Over Credit Ease - "U.S. stocks rose and Treasuries fell after the Federal Reserve reported short-term debt dropped by $8.2 billion, compared with a decline of $31.3 billion a week earlier. That coincided with Countrywide Financial Corp. obtaining new financing and banks finding buyers for loans to fund Kohlberg Kravis Roberts & Co.'s buyout of Alliance Boots. Issuers with the biggest chance of default had stopped trying to sell commercial paper, rekindling appetite for short- term debt, said Tony Crescenzi, chief bond market strategist at Miller Tabak & Co. in New York. 'Investors have already pushed out the weakest issuers,' Crescenzi said in an e-mail. 'The commercial paper that remains is a relatively more respected crop.'"

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Name: jwookie

Location: Temecula, California, United States

I'm just a normal guy who was trying for medical school and ended up in finance. I'm not quite sure how I got here, but there aren't alot of hippie tree-huggers in finance, so I might stick around for a while. Other than that I'm spending time with my wife and dog, working out at the gym, sports (baseball mostly, but I'll settle for basketball and football), reading, music, and more. In the end, my free time isn't very free, so I'll probably do most of my posting from work. Hopefully they think all that typing is me actually working.

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Friday, October 21, 2005

I never thought I'd be a fan of Joan Rivers...

I always kind of thought of Joan (and her daughter) as the annoying duo that appointed themselves the Oscar's style police. But as soon as I heard about this story from London, I couldn't help but laugh and think that I'd like to buy the woman a drink.

Howe went on to talk about his Channel 4 documentary Son of Mine, detailing his relationship with his 20 year-old son, Amiri, and whether it was racism or his faults as a father that were to blame for the difficulties his child had been through.

Rivers, 72, broke in, saying: "I'm so, so bored of race. I think people should inter-marry. Everybody should be part this, part that and part everything. Race doesn't mean a damn thing. Everybody should just relax, take the best of their cultures and move forward."

Purves suggested that was a "very American approach" but Howe disagreed, saying: "That's not an American approach. America is one of the most savagely racial places in the world."

And then he later suggested: "Since black offends Joan…"

This drove Rivers into a complete tizzy. "Wait!" she cried. "Just stop right now. Black does not offend me. How dare you? How dare you say that? 'Black offends me!' You know nothing about me. How dare you."

Their exchanges culminated with Rivers shrieking: "Don't you dare call me a racist. I'm sorry. How dare you."

As a somewhat harassed Purves tried to calm the situation, Rivers said to Howe: "Now please continue, but don't you dare call me that. Son of a bitch."

Amen Joan.

And I'm sure you looked sharp in Armani while you tore him a new one.

UPDATE: Here's the full transcript (via Hurry up Harry).

Link to me! Posted by jwookie : 9:19 PM

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