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MF Global Is Gone. Who’s Next?

I quote the S&A Digest from the Desk of Porter Stansberry, today for lettin us know that John Corzine who just ran MF Global into bankruptcy gets “…around $12.1 million in severance, according to the New York Times’ business blog, Dealbook.”

With MF Global one of the first victims of the European debt crisis, what :troubled company” is next? Stansberry thinks it’s GE!

About 20% of GE’s commercial real estate holdings are in euro nations – about $16 billion in total exposure. And 50% of GE’s consumer finance business (mortgages and credit cards) is euro-based. That’s $71 billion in total exposure. Plus, you can add to that another $40 billion in European commercial loans and leases (mostly aircraft).

Stay tuned!

This Is Halloween

Some people have entirely too much time or money.

Amarillo Receives Record Breaking Snow


Brittany Nunn/Amarillo Globe-News
Amarilloans wake to find 2.5 inches of snow on the ground and slushy conditions on the roads.

“…today’s amount breaks the record for amount of snow received (in Amarillo) on Oct. 27., which was previously set at 2.4 in 1911.

MF Global Off The Rails

UPDATE: MF Global files Chapter 11 bankruptcy: “For Corzine, 64, the bankruptcy is another knock on his reputation after choosing to dial up European risk at MF Global when other larger firms had grown weary.”

All or parts of the troubled U.S. futures brokerage firm, MF Global, run by former Goldman Chief Executive Jon Corzine, are up for sale this weekend. The stock has been killed from $9 to $1 in four months and bankruptcy lawyers have been called in.

“When Money Dies” Author Adam Fergusson

Zero Hedge has link to video of James Turk interviewing “When Money Dies” Author Adam Fergusson and they discuss (Hyper)Inflation.

Do we have politicians that will do the right thing to solve our problems and forego reelection as a consequence?



Crater Lake At Night

Not many of us get to view the night sky at Crater Lake.

Crater Lake Under the Stars from Ben Canales on Vimeo.

A great big hug to photographer Ben Canales for these spectacular views.

El Hierro Is Rockin’

Just today on October 30th, there have been 53 earthquakes. The largest magnitude, so far, has been a 3.9 with over half above 2.0. Jón Frímann thinks one or more new vents have opened “just outside north-west coast of El Hierro volcano.”

The major risk is a collapse of the volcano or explosive eruption ala Mt St Helens that would create a tsunami aimed at the east coast of the U.S.

How A Candidate Should Handle Birther Questions

Jack Cashill tells candidates how to respond to “birther” questions and it’s darn good!

October Snow Records Smashed

12.3 inches of snow in Hartford, Conn.. The previous record was 1.7 inches set on Oct. 10, 1979.

11.4 inches of snow in Worcester, Mass.. The old record was 7.5 inches set on Oct. 10, 1979.

5.2 inches of snow in Newark, N.J.. “The greatest amount of snow on any given day during the month of October.”

Daily Snowfall Records Set

Concord, N.H., was blanketed by 13.6 inches of snow, breaking the old daily record of 0.2 of an inch set back in 1952.

Albany, N.Y., set a daily snow record with 3.8 inches of snow. The previous record was 0.4 of an inch set back in 2000.

Another daily snow record was set in Pittsburgh, Pa., on Saturday when 1.6 inches fell. The previous record was 0.6 of an inch from 2008.

Philadelphia got 0.3 of an inch of snow, breaking the old record of a trace for the date set way back in 1902. Likewise, Wilmington, Del., had 0.3 of an inch, surpassing the trace the city got in 2002.

The nation’s capital got a dusting of snow that set a new record. The 0.6 of an inch that fell on Saturday was unprecedented. Previously, Washington, D.C., had never received snow on Oct. 29.

At this rate some areas of the country may still be covered in snow when the 2012 winter begins!


Football Upsets Week 9

#5 Clemson 17, Georgia Tech 31

#8 Kansas St. 17, #9 Oklahoma 58

#11 Michigan St. 3, #14 Nebraska 24 Final

#15 Wisconsin 29, Ohio St. 33

#16 Texas A&M 31, Missouri 38 Final OT

#20 Texas Tech 7, Iowa St 41

Louisville (3-4) 27, Syracuse (5-2) 10 Final

Locally
#7 Oregon 43, Washington St. 28 Final
Oregon State 8, Utah 27
Portland State 43, E. Washington 26

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