Narrow, not broad.

20 companies (22% of market cap.) account for 55% of 2012 YTD returns for the S&P 500.

Sandy Weill, America's biggest hypocrite

My late boss at Drexel Burnham Lambert, Walter J. Shaw was alot of things.  One thing he did was always call it either black or white, good or bad, right or wrong.   He would have called BS on Sandy Weill after his CNBC tirade today.  The first question Walter would have asked Sandy is just how do you break up the bailed-out banks which have $5 trillion in deposits as collateral for $280 trillion in derivatives?
Who is Sandy Weill? He is none other than a retired Citigroup Chairman, a former NY Fed Director, and a "philanthropist." He is also the man who lobbied for overturning of Glass Steagall in the last years of the 20th century, whose repeal permitted the merger of Travelers and Citibank, in the process creating Citigroup, the largest of the TBTF banks eventually bailed out by taxpayers. In his memoir Weill brags that he and Republican Senator Phil Gramm joked that it should have been called the Weill-Gramm-Leach-Bliley Act. Informally, some dubbed it “the Citigroup Authorization Act.” As The Nation explains, "Weill was instrumental in getting then-President Bill Clinton to sign off on the Republican-sponsored legislation that upended the sensible restraints on finance capital that had worked splendidly since the Great Depression." Of course, by overturning Glass Steagall the last hindrance to ushering in the TBTF juggernaut and the Greenspan Put, followed by the global Bernanke put, was removed, in the process making the terminal collapse of the US financial system inevitable. Why is Weill relevant? Because in a statement that simply redefines hypocrisy, the same individual had the temerity to appear on selloutvision, and tell his fawning CNBC hosts that it is "time to break up the big banks." That's right: the person who benefited the most of all from the repeal of Glass Steagall is now calling for its return.

The Parisians, Florida, 2012! Dean Pam & Jordan

Our last trip to the Gulf, 2012.  Football starts next week for Jordan!

Profiling welfare fraud the easy way!

Long Version of "Tainted Love"

One of the best songs ever to have on your Ipod when working out.

And the older I get, Kirsten Faith was right.  Billy Idol rocks!

The NCAA, a complete crock.........

The NCAA talking about "academic integrity monitors" and compliance officers?  GMAFB.....

This is beginning to sound like Dodd-Frank.       I think Corzine and the CFTC should be running the NCAA.   They could fix Spain, the EuroZone, heck they could fix the drought and do something about the fiscal cliff!

To the great alumni, fans, players and community of Penn State, much love and prayers your way.

Res Ipsa Loquiter. Presented without commentary.

From a speech given by Obama the other day........WH socialism at it's finest!

There are a lot of wealthy, successful Americans who agree with me -- because they want to give something back. They know they didn’t -- look, if you’ve been successful, you didn’t get there on your own. You didn’t get there on your own. I’m always struck by people who think, well, it must be because I was just so smart. There are a lot of smart people out there. It must be because I worked harder than everybody else. Let me tell you something -- there are a whole bunch of hardworking people out there. (Applause.)

If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business -- you didn’t build that. Somebody else made that happen. The Internet didn’t get invented on its own. Government research created the Internet so that all the companies could make money off the Internet.

The point is, is that when we succeed, we succeed because of our individual initiative, but also because we do things together. There are some things, just like fighting fires, we don’t do on our own. I mean, imagine if everybody had their own fire service. That would be a hard way to organize fighting fires.

So we say to ourselves, ever since the founding of this country, you know what, there are some things we do better together. That’s how we funded the GI Bill. That’s how we created the middle class. That’s how we built the Golden Gate Bridge or the Hoover Dam. That’s how we invented the Internet. That’s how we sent a man to the moon. We rise or fall together as one nation and as one people, and that’s the reason I’m running for President -- because I still believe in that idea. You’re not on your own, we’re in this together. (Applause.)

TGIF

We sit through a 6-day stock market shit storm and see every single Dow point down erased in about 30 minutes at the start of todays ramp.   then we trade about 25% lower average volume today than we have on average over the last 200 days. And even after taking a 9 billion dollar loss on derivatives trading, and the Libor scandal unfolding over at Barclays, JP Morgan still manages to be up 5.96% at the end of today and up 6.03% for the month. Yes, it's Friday in the stock market.  And it's summer.

This too shall pass.

Jesse Jackson's "Mood Disorder"

Let me weigh in on this nonsense.  He is a drug addict.  Always will be.  It is great that he is in treatment.  I hope he becomes clean, clear and contributes to his family.  Forever.

What I hate is this crap in the media about the mood disorder.   Come on.  Please.  Stop bullshitting.

There isn't a mood disorder there is an addiction.  Why is it no one talks straight anymore.  No one lays it out.  No one is honest.   These bullshit brokers that call here every day with every song and dance about their great bonds and great structured products.  Give me a break.  It's all just a steady stream of mincing, equivocating, politically correct, lying bullshit.   I think half of America is pathologically incapable of clarity.   Did you get fired?  Did you get laid off?   Did you get divorced?  Are you on food stamps?   What do you think of Obama?  Is Obamacare good for you and good for America?   Are you sucking off the Government by selling your food stamps?   Just be clear.  Black and white.   It goes on and on and on. 

Yo, media saps, what is it about the term "mood disorder"  that you don't understand?

LaJolla Sharks

Channel 6 in San Diego interviewed my son, Jordan Parisian the other day.   There were sharks in the surf at LaJolla Shores and Jordan happened to see a nice one.   He immediately came out of the water and laid down and exclaimed that  he was never going back in the water again.   One of the lifeguards on a board saw about a 15 foot Great White and they immediately cleared hundreds upon hundreds of swimmers out of the water.  It was a great response and effort by the San Diego County Lifeguard unit as always.  

No "skin" in the game for 50%

When the Teleprompter-in-Chief tells us there will be no tax hike what he really means is this.

"We cannot allow taxes to increase for the 50% of Americans who pay no income tax."

So simple to understand. 

It's only just begun.

If you trade futures and your clearing firm has anything to do with JP Morgan you might want to think some things through.

It will be fun to see how fast DOJ, CFTC, and NFA jump on this issue and how many criminal indictments are brought in comparison to MFG and John Corzine.   Just don't hold your breath.

Number 2 is a done deal.    How many more are there?  My bet?  A whole lot more.

Obamaisms.......

Watching this speech and listening to the lies spewing from this politician make me yearn for the days of a fellow Georgian.

Jimmy Carter where are you?   You only served one term, come on, get back campaigning!

American ENTITLEMENT

Huntsville, Utah

I like the sound of that town!   Good work!