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[Cinema Rasik] Interesting Videclips of the Week (June 13 - June 19): We are delighted to state that Diana Ohlick justified our trust by standing up to browbeating anchor Larry Kudlow and responded to his attacks with firm statement of facts. We encourage all readers to watch this clip. 

[The Business Insider] Matt Taibbi's Goldman Sachs Story Is A Joke: I second PrivateWorld and want to let you know that someone else agrees with the bulk of its content. As a laid-off CMBS banker at one of Goldman's competitors, I don't have much love for them, but I agree that my firm and many others, Goldman included, are in their modern incarnations far more the products than the causes of going public and the other regulatory mistakes of the last 20 years.

[Grasping Reality with Both Hands] Why We Are a "Nation of Whiners"...: Just as the western Marxists struggled to understand why workers in Europe and North America eschewed revolutionary politics, and ended up with explanations that were more sophisticated than what the GOP has been shilling these last few years, but that still suggested a degree of brainwashing and media manipulation. Its kind of ironic that conservatives - never fans of Marcuse or Adorno - now have to resort to a very pedestrian version of the culture industry argument to make sense of (by way of denying) its own failures.

The Big Picture: Kudlow and his bull stooges were dead wrong last year with their Goldilocks scenario. And every time Barry Ritholtz, Doug Kass, Joe B., Gary Shilling or John Brown tried to make the counter argument, Larry would rudely interrupt, and his ultimate stooge, Don Luskin would roll his eyes.

[Nouriel Roubini's Global EconoMonitor] RGE - The Economic Mess and Financial Disaster that Obama Will Inherit: President Obama will also choose a first rate economic team: individuals such as Larry Summers and Tim Geithner would be excellent choices for the position of Treasury Secretary. Obama and his team are fully aware of the very difficult economic and financial challenges that the country is facing and will work hard to resolve them.

[The Business Insider] The White House Attacks Jim Cramer: If Obama is wrong and this recession deepens then all the goodwill he has will come crashing down. Wall Street is Main Street as over 50% of all Americans own some part of stocks whether it be directly or in pension funds like CALPERS, Teacher Funds(80% of all teachers annuities are controlled by AIG), and other State pension funds.

[Cara Community - Comments] Cara's Commentary & Community Chat, Sat., Apr. 25, 2009 | Cara ...: Re Fingerprints -Is it possible that the broker does margin calls in a way that ahead of time they line up shares for a programmed trade taking from individual accounts where they are doing a margin call then execute sells sequentially in a "sweep of the street" when an order such as yours comes in? Their record-keeping would trace each sell of a board lot ( usually 100 shares ) back to the client who was forced to sell, so what you are seeing would be more for their tracking purposes than for your need to know.

[Obsidian Wings] Obsidian Wings: Who's In Charge Here?: Another contributing factor was the removal of regulatory barriers (e.g. Glass-Steagall) which while they were still in place had the effect of compartmentalizing the industry so if one sector made bad decisions the damage would not spread so .

[Silicon Alley Insider: iPhone] All That's Left Of Circuit City: 17 Lines Of HTML (CC): Dan, let's get an in depth article with a series of pictures about .I am sorry for circuit city and any other retailers getting shaken out by this dip in the economy...

[The Big Picture] Yes, Unemployment Is Worse Than Reported | The Big Picture: ones, who are free and clear a couple of mil here and there can clown around about winning or losing 20K per day…So they just TRADE, they go where the prevailing wind takes them…If someone wants to take the S&P up to 1,050, so be it…WHO CARES IF IT MEANS P/E RATIOS WILL BE AT 1,800+…THEY CAN DRINK THEIR GLASS OF WINE AT THE END OF THE EVENING AND EVEN BRAG TO THEIR FRIENDS HOW GREAT THEY ARE…It doesn’t matter to them if, based on how the MSM portrays the “health” of the economy, if a run-up to bubblicious territory actually ends up EXACERBATING the eventual economic demise of this country (hey, they made a half mil “beer money”

[Balloon Juice] Balloon Juice » Blog Archive » A Defense of Jim Cramer: Cramer is probably the most visible douche on CNBC and deserved his beat down from Stewart””but it would have been a lot more satisfying to see a takedown of Kudlow, Santelli and/or Bartiromo. The first two just need repeated punches to .

[The Big Picture] Rick Santelli's Planted Rant ? | The Big Picture: says the whole thing is incorrect but when you actually read his piece he actually says only part of it is incorrect as far as he knows……The blogosphere as usual filled with its own self importance is clearly going to have fun with this for days but what really matters is if the story is proved correct and gains wider currency….if it doesn’t it will be gone in 24 hours…..if it does Santelli and CNBC are in some difficulty…..not the end of the world but not good for a financial cable channel that has to concern itself with its perceived probity……the problem in the wider political context which all my conservative friends here are missing is that it’s going to reinforce the general public perception that the Republican are just engaging in more rather sleazy political tactics…..that’s not to say the Democrats don’t resort to similar tactics at times……but the there’s no doubt the the GOP are perceived to be the boys when it comes to dirty pool…….None of the Republican fans here (and I’ve voted both ways) are going to agree but there’s a growing view their party is under the direction of a bunch of nut cases like Limbaugh and co….and this sort of stuff just reinforces that impression……the long term effects of tainting your brand with this sort of stuff are not good however much they believe otherwise.

[Megan McArdle] Matt Taibbi Gets His Sarah Palin On - Megan McArdle: The non-Goldmanites might somewhat blithely follow along with Goldman's trading strategies figuring, "If the smart guys at Goldman are doing it, there must be something to it..." But the part they miss is that the smart guys at Goldman have already set themselves up to be subtlely backstopped by the government (as witness their AIG exposure being redeemed by the government at $1 per dollar, despite their having "fully hedged it"...) so these other banks get into deep, deep water by following the Goldman strategy without understanding that part of it is cultivating deep ties to the government, regardless of who's in power.

[Nouriel Roubini's Global EconoMonitor] RGE - Prophet Motive: When he travels, for instance, he says his research includes talking to "everyone from the airport cab driver all the way to the finance minister." One prominent economist who studies recession indicators recently slammed Roubini for his "subjective," "wild man" predictions because they don't always rely on econometric modeling. And Roubini certainly didn't help his case at an IMF conference in September 2006, when he guesstimated the chances of a world recession at 70 percent before offering, by way of explanation, that he had pulled the number "just out of my nose."

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