I can’t stand fuckers who don’t stand for anything. You know the type, middle of the road, cock suckers, who’d slit your throat for a turban donning master, providing the pay was right.
Unfortunately, I’m in the wrong business to have such an attitude. Nearly everyone on Wall Street is all about making a buck to fuck the guy with bad luck, if you know what I mean.
Then you have the financiers. Oh these guys are a piece of work, always peddling their bullshit wares to “accredited investors.” In other words, sell shit to people that can afford to lose money. It’s a wonderful business plan, providing you need capital losses.
I should write a book about all of the fuckery I’ve witnessed, from coked out managers, to an egregious new hire stock broker found unconscious in the men’s room with a fucking heroin needle stuck in his arm; I’ve seen it all.
“The Fly” comes correct, and fresh, everyday because he stands for something that is more than stocks or asshattery. As you know, “The Fly” stands for truth and honour and will defend such ideals until it gets boring or “old hat.”
We all know, first hand, how difficult it is to make money in the market, day in and day out. For starters, most of you ass lickers need to stop thinking that you know anything about investing. Really, dude, it’s fucking embarrassing to read 2/3rds of the shit that you write on the internets. I feel uncomfortable, to say the least.
There are many websites out there, hosted by complete assholes, who claim to be top dog investors, with charts and all sorts of fancy shit to back up their assertions. Unfortunately, 95% of them are regular hucksters, who are just out to make a buck.
Always remember, what I do here, on an daily basis, as obsessive as it is, is for a reason. I don’t do it to make a gagillion dollars. I do not write to “vent,” like some of you loser bloggers claim.
I started iBankCoin, frankly, because I wanted to create a brain trust of unfettered truth, unlike my competition. Without question, inside of 5 years, mark my words, iBankCoin will be one of the biggest, if not biggest, financial websites in the country.
In other news, oil sucks dick.
UPDATE: Go watch the Frontline special on the credit crisis, at Gio’s.
If you enjoy the content at iBankCoin, please follow us on Twitter
“I should write a book about all of the fuckery I’ve witnessed, from coked out managers, to an egregious new hire stock broker found unconscious in the men’s room with a fucking heroin needle stuck in his arm; I’ve seen it all.”
I’d buy it.
I think you’ve done an excellent job achieving your mission Fly. Great team, great community, witty commentary, distinctive atmosphere/culture. Pretty winning combination. I could use more orange, but maybe that’s just me.
Have you considered offering the PPT for free for a year? You would destroy the subscription businesses of your competition.
I like this place.
BOOM
Can’t do that. We’ve put too many resources into PPT to give it away. It will be ready inside of a week.
Maybe I’ll throw discounts to those who cancel other services.
Great idea.
ibankcoin will thrive if the world keeps evolving towards the Mad Max. This webscape is one crazy outback aboriginal world.
But are you Toecutter or Max?
Ditto, what MOOBER said. Except for the ‘orange’ part.
http://www.bloomberg.com/apps/news?pid=20601068&sid=aAeJgeIi_e5c&refer=home
Is Greenspan even slightly going along with the purchasing of shares to circumvent the losses in housing.
Maybe my ideas were not so crazy after all.
(He is the expert in bubbles).
Dow 40,000 would help us all quite a bit, plus get rid of the inventory of cars, houses etc.
Much more equitable for everyone.
Does anyone “feel” better for the gazillions spent already?
Looking forward to the PPT.
Respect to the Fly
I’m in regardless of price.
Frankly, if the price is reasonable it will kill ’em anyway. In an age of liars and thieves, an unbiased source will be greatly appreciated.
The fraud is just staggering, isn’t it? Can’t trust anyone.
I remember Grandma Moober, making meatballs in Maplewood, warning me of how Wall Streeters would rob anyone blind. Ironically, she had no problem with Grandpa Moober’s exploits.
If I can ever be of service, don’t hesitate to call on me. I helped Bill Cara with his new firm’s rebranding and community site launch. Happy to help you too. Bill called me a “seer.” I think that’s Canadian for “fatty.”
nuthin’ beats some good T-Boone Pickins fuckery.. good read:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a_uwV89koXd0
I would read your book. I would tell my friends to read it. I really appreciate your exceptional use of grammar.
Price will range from 29-49 per month, depending on duration of sign up.
you do know how to write, makes me wonder if were an English major during undergrad years
my bad, if “YOU” were an English major…
Has anyone else on here noticed The Fly’s innocence slipping away?
One day, we will be trying to tell the kids about our current tragic situation….and, like a typical adolescent, they just won’t get it.
Well, maybe they will…..perhaps, eventually….right before they get slammed by the gov’ment, to do their two-year, mandatory military service.
The innocence slips away…..
Without a fucking doubt, this is one of those posts you print out.
Especially this part:
“I started iBankCoin, frankly, because I wanted to create a brain trust of unfettered truth, unlike my competition. Without question, inside of 5 years, mark my words, iBankCoin will be one of the biggest, if not biggest, financial websites in the country.
In other news, oil sucks dick.”
DUG to 40
Fly,
This is an excellent indicator–that you give up the use of the Time Machine in favor of your own creation, the PPT.
Now our work might well succeed, and your continuum can reconnect and prosper.
A.D.
The Fly was an aspiring “poet” before coming to wall street. That is how Fly was inaugurated to Wall Street, from an essay contest, no? The Fly’s true identity will be revealed during social unrest in late 2009.
Does this mean that iBC will change the terms of service to include the use of all our posted words, images, and likenesses in perpetuity?
Holy shit
As Pickens sold positions, the worth of the holdings in the fund tumbled 97 percent during the final three months of 2008 to $40 million from $1.29 billion on Sept. 30, a comparison of the filings showed.
I feel bad for the old man. At his age, he shouldn’t have to deal with this shit.
I think FLY needs to retain his anonymity to be effective… and I highly doubt that guy who ranted off Fly’s scripted diatribe in the youtube video was the real”FLY.”
No, he is a hired actor.
I don’t have time for that shit.
what a relief FLY, cuz his voice wasn’t very masculine which basically undermined the efficacy of his delivery
Fly, I love reading your posts pal. Dont get me wrong. Your a great guy, but it will be a sad day in financials when IBankCoin becomes one of the biggest financial sites.
I like your attitude but its not professional. The language you use, makes all this seem like a big ponzy scheme. If you want to be taken seriously by a much larger audience, then you need to clean up the language. I hope you dont. I like the way you posts. Im sure you know it works, otherwise us minions wouldnt be following your posts.
I still prefer professional websites with professional attitudes to provide confidence to lead the markets. CNBC isnt one of those sites/sources with those fucktards Gasparino, Kudlow, Cabrerra, Kneele, etc. Kinda seems like the whole staff of CNBC is full of fucktards doesnt it?
You fill a niche. I like IBankCoin filling that niche. If you grow too big, then your uniqueness will go away.
Web 2.0 is about smaller tighter communities. Not big massive websites. Stay with the trend.
Wow…Pickens got absolutely rocked. I wonder if he’s even a billionaire anymore. It just goes to show that nobody is invincible in this business. Buffett is probably next to lose it all.
Pete
You do not understand my point.
I do not want iBC to be CNBC or Bloomberg. Of course I do not want to replace them. However, there are dozens of sites that get 10x the traffic of those two.
iBC will be bigger, not because it is a “professional” environment or reliable news source. It will be bigger because it cuts across multiple genres.
Sorry for using that fucking word. I had no choice.
Hey, Fly,
I like the way you posts!
:)~
FYI:
Ponzy is spelled “ponzi,” Since you read all of those important sites, one would think an asshole, such as yourself, would know how to spell the damn word by now.
Fuck off, pal.
I apologize. Its 2:50 in the morning.
Shouldnt we be sleeping?
Roundhouse kick it Mr. Fly man, brilliant
FLY… as the Bard suggested “To thine own self be true” Love the site and keep it as is, refreshingly honest and stimulating
ibankcoin is just “too big to fail”
Even though you hear it plenty, you are the shit. Keep it real homie.
“When dictatorship is a fact, revolution becomes a right”
I have a recommendation for some serious gangsta rap for your next featured music video.
http://www.youtube.com/watch?v=YaOOxiuDQnU
Any publicly traded weapons manufacturers you recommend. I’m betting on WW3.
And i joined iBankCoin because I’m sick of investor media, “professional” stock brokers, and fund managers taking honest people’s money. The investing community needs a hero… and it’s found within the free social networking community of traders. whether it be from the blogging world, forums, iBC, StockTwits, whatever… the financial advising world is being revolutionized before our eyes people. You should be happy you’re all a part of it.
Remember, in EVERY CRISIS a leader is born from the fire. No, it will not come in the form of a person like a Guiliani, Abraham Lincoln, Martin Luther, FDR, Mother Teresa. It will come from a network of the unlikeliest places of our planet… from someone’s apartment, dorm, a StarBucks cafe, whatever. These are the people that will give you the truth, cut through the crap, and watch your back. This is what iBC stands on as we all attempt to rise from the flames.
…The old way no longer works. We have to defend what’s left, and rebuild what is lost.
-gio-
FLY-
Ass Napkin is requesting “OG” status.
Please let him know asap. He has a lot of shit to do.
Hope we will still be able to read your rants.
Fly:
Don’t get ahead of yourself. The place would be rack and ruin without you yammering away about the market. The rest of the dudes aren’t read.
Cronkite is good. That’s not bad and the news is selectively good.
However If I were you I’d made sure I’d own 95% of the site and the rest equally divided among the plebs and hangers on. Throwing them a bone is about all you need to do and they ought to be happy.
Smarten up, Gio, Shed….., you can’t expect fly to be carrying all of you.
Sorry, but that’s how it is: one has to be cruel to be kind.
j, I don’t take advice from racists.
So sorry.
Truth and honour will never be “old hat” nor boring.
Gio, your post was poetic.
Last September, Warren Bee was out saying “BUY STOCKS!”, with some op-ed in the NYTimes. Now we find out he was SELLING STOCKS, in the billions & billions, like he was Carl Sagan or something.
Ya think he’ll put out another op-ed or appear on CNBC bubblevision reversing his stand, shouting FIRE?
The Fly” stands for truth and honour and will defend such ideals until it gets boring or “old hat.”
Your writing is great, but it’s really the content that tips the scales. Many people can wright [sic], some have attitude, a few know investing. Hardly anyone can do it all. I’m here for your investing knowledge not your writing – as good as it is.
Thanks.
PS So sorry,truth and honour in the US of A have become “old hat” to the point where we will/have lost our leadership position. Sad but true.
Unrelated song: http://www.youtube.com/watch?v=E2YnDlEMXiU
For the record, Shed accused me of being a racist because I referred to Japanese and Japs in a comment about the BOJ. In the same thread some idiot made a comment about Brazilians and shed, being the eternal idiot accused me of posting it.
I asked he take a look IP address address to confirm it wasn’t me however he suggested I could have moved from one link to another…..I post comment from Australia 🙂
He still hasn’t apologized for this inanity as he isn’t man enough to.
My conclusion: Shed is not a large brained mammal.
Juice
He says he doesn’t buy stocks and market to market. So he could very well be selling stocks that no longer meet his objectives.
Right or wrong, i don’t see how his first comment is necessarily contradictory to the first or that he needs to explain his actions.
pair trade…long FAS– Long 1000 AR-15’s…odd no..?
Goin Fawr,
The Alberta Premium was straight. My baby isn’t sleeping through the night yet. I considered coke, then thought the caffiene might offset the drowsiness of the booze too much. But you’re right. It’s a better when served about 50/50 with coke. But it’s still good straight.
By Uranium backed currency, I didn’t mean keep chunks of radioactive material in your pocket. Every dollar in the states used to say “redeemable for such and such amount of silver”. If you had a fort knox of Uranium (which most countries do, including Iran), I was merely speculating that if someone did try to corner the gold market, this might be a more useful material for governments to select because it is useless and dangerous for citizens to have on thier coffee table, it has intrinsic value for a nation for power generation (I’m talking about the low grade stuff not weapons grade), and it would be more “patriotic” than gold in any nation with advanced technology. Perhaps your piece of paper could say “redeemable for a muffin, or a barrel of oil, or something else that has true value.
Low grade U3O8 can be stored safely with a little shielding. If someone had a lead box because they wanted physical delivery for some reason. Their problem. It’s turning into weapons grade that is very vrey difficult for someone to do in their laboratory in any significant quantity. But perhaps a muffin backed dollar, or a barrel of oil backed note would be the way to go.
Mars.
I disagree with J – . Though “Fly” is the hook, its everything combined that makes this a brilliant site. I like the tabs (rest of the dudes), links, and all posted comment section battles. As far as I can tell, its the only “complete” blog out there. The fact the he is not trying to “monetize” is pretty cool too.
Warren Bee,
Had a conflict of interest when he was working with the gubmint while he was cutting his own deal. Even on of the richest guys in the world can’t resist a little more.
He lost my respect. But his investing trackrecord still stands. Asshole or not. Babe Ruth may have abused women but he could smack the little ball. A hero and and asshole at the same time.
j, you’ve found me out. I’m a small-brained reptile.
J – if you are an investing God, announcing to the world that you’re buying stocks, you must do the same when you’re selling. If its done during some random interview, that would be different.
A reptile is not a mammal, you goof, Shed. That’s why a reptile is reptile and a mammal is what it is. One lays eggs while a mammal doesn’t. back of the class please with all the other dummies.
Juice:
Yea but he isn’t a trader as he always says. He buys a business for its cash flow unlike us dummies who think we can outsmart everyone else.
I really don’t see the issue.
Looking to take profits on my yen trade right here.
Some mammals do in fact lay eggs dummy. Perhaps you should have payed more attention in high school biology class
Nice masthead update…
j wrote in the comments section above, “My conclusion: Shed is not a large brained mammal.”
My response, “j, you’ve found me out. I’m a small-brained reptile.”
Then j responds, “A reptile is not a mammal, you goof, Shed. That’s why a reptile is reptile and a mammal is what it is. One lays eggs while a mammal doesn’t. back of the class please with all the other dummies.”
First, j told me that I was not a mammal.
I responded that then I’m a reptile.
J then says I can’t be a reptile because I’m a mammal. But he just told me I wasn’t a mammal.
Maybe I should be lowering myself to the intellect of a 3rd grader to understand exactly what j is trying to say.
All reptile lay fucking eggs, dumb fuck. That’s one of things that makes it a fucking reptile. mammals can lay eggs but thy aren’t reptiles amongst having other characteristics.
———
Shed
Shut the fuck up and update your charts.
Wrong again jackass
Some reptiles do in fact give birth to live young.
Where did you go to school? Mississippi?
Shed says:
Maybe I should be raising myself to the intellect of a 3rd grader to understand exactly what j is trying to say.
That’s easy, shed. You’re a small brained mammal.
Back of the class again
Banks starting to sink. If there is another melt down in the banks today things will get very ugly.
XOM, CVX the only thing holding this market up
Obama Admin To Increase Fannie, Freddie Portfolio Limits To $900B Each
Ha Ha Ha! Thats right keep giving more leash to the idiots who created the mess.
http://www.exoticpetvet.net/reptile/rerepro.html
So now I’m a mouse? Eek eek…Feed me some cheese please…
I know its taking everything you can muster to not make some sort of ethnic slur here j. Good work.
Admin says mortgage plan could help 9 million people.
Ok and there are 20 million behind on payments or in default.
long live fly.
long live jungle girl
Thursdays before expiration have been tough. If we don’t hit new lows today we could certainly see them tomorrow.
Wasn’t DevilDogs prediction news lows by the 19th?
No jumbos for refi under new plan.
Well you could just about right off every loan in Cali.
More foreclosures to come almost every loan in California is a jumbo
sold some Euro around 1.26. if 1.25 is attacked next stop could be 1.2250 Have my stop at 1.2638
WFC – The next $5 bank stock. JPM soon to follow.
TMOE – DevilDog has been predicting new lows by the 19th every single month. He’s bound to be right sooner or later.
j, I don’t take advice from racists.
“Unless he is my local Klan Dragon, I mean.”
___________
Low grade U3O8 can be stored safely with a little shielding.
Interesting theory, but gold’s value doesn’t just come from its rarity and shinyness.
It comes from it’s other attributes, including malleability and yes, portability.
Why would backing a currency with an untouchable mineral harm the value of gold in a fiat currency world? I’d argue it’d strengthen gold if we backed our currency with anything real. The surpassing value of gold as a currency backer is in that it retains it relative value over time, as opposed to certain commodities (like those that are used for energy, like oil and uranium.)
What happens to our dollar if we figure out fusion and water becomes the fuel of choice, for example?
_____________
j, you’ve found me out. I’m a small-brained reptile.
Now that he’s self-confessed, I can finally corroborate, as my brother has met the Shed.
He is actually a diplodicus posting from a public pool in Henrico County, Va. Municipal park workers found him in a tidal stream off the Rapahannock River in ’96, took a liking to him and outfitted his flippers with velcro’d drumsticks to assist his keyboarding here.
_________
Misery does love companies…
T MOE covers the rest of his COF (the little that I was still holding after covering some at $12) at 9.70 for a huge gain. I posted weeks ago on this blog that I got short COF at 32. Counting coin baby!!
TMOE —
Nice take. I had an uncle who’s biggest holding was COF, who called me back when the first meltdowns were coming, and asked me what to do. I said, “get rid of that toxic crap, yesterday.” To my chagrin, it proceeded to “recover” by about $10. I guess he’s not mad at me anymore though. 😉
__________
Good stuff Jake. Excuse me while I go lay an egg.
Some good points JakeyGinto.
Why does being malleable and portable make it valueable? Shit meets those criteria too.
There is very little industrial usage for gold. Only 10% of all gold currently used, is used for anything other than jewellery making. If people were educated to use an alternative material for jewellery, such as platinum, rhodium, or something else, due to some silly nation trying to corner the market, then it would lose its “value”. Also, the supply would increase if the price went through the roof as mines who currently have marginal economics come online and start to produce.
The most malleable metals are, from greatest to least: gold, silver, lead, copper, aluminium, tin, platinum, zinc, iron, and nickel.[1] The ductility of steel varies depending on the alloying constituents. Increasing levels of carbon decreases ductility. Many plastics and amorphous solids, such as Play-Doh, are also malleable. So tell me again, why Gold, has this intrinsic value which makes it superior to other forms of “money”? (Something other than being malleable please).
Mars.
Ported from the RagePage:
FWIW, SPY is sitting on it’s 78.6% (ie, “weak”) fib line, from the November 21 lows to the January 5th highs, at $78.75 here. My gut says we go to at least test those November lows, but it seems like that’s what everyone thinks, so if we do get a bounce here, it could be at this point.
Strong, confident advice, I know.
_______
Reptilian brains have many advantages. Reptiles can be formidable competitors.
http://i380.photobucket.com/albums/oo245/ST1020/Gorn.jpg
I’m watching that Frontline special on the meltdown and I get the impression that Paulson is solely to blame for the post September meltdown due to his refusal to bail out LEH. The LEH BK sent the whole market into a tailspin. I don’t think we would be where we currently are if LEH had been bailed out. In the eyes of the credit market , the LEH BK was a ‘black swan’ event. It was simply unthinkable. If LEH was in trouble, every expected that either it gets bailed out or its gets the opportunity to wind down its business in an orderly fashion.
Malleability, again, is just one of a piece that makes it valuable.
Unlike shit, it does not break down easily, but can be converted into portable units without losing value in the form of coinage, jewelry, bars, Academy Awards, etc.
Unlike shit, it is not easily found in a cowfield either. Or even in a mine… so yes, bringing many mines online may be a detriment to price, but not an inhibitor to its long term stable value, which is what has made it the “currency” of choice for the 5,000+ years of human civilization.
________________
Can that Crap Cap.
No way it’s his fault. It’s the banks who made foolish loans. Period.
Mars.
.So tell me again, why Gold, has this intrinsic value which makes it superior to other forms of “money”? (Something other than being malleable please).
Because man has found utility in gold as a store of value since time began.
Don’t ask why, go look through an economics dictionary that explains utility.
Thunder,
C’mon, that’s Shed’s dimwit uncle Gorn, who could not even muster the brain power to throw together an easy bake gunpowder recipe.
________
JakeGint
Yes it is easy to see why gold has historically been good to be used for money. And yes it does have some neat qualities. And yes it can be found. I’ve got two friends from back in geology school who are now full time gold panners. Seriously. One on the Skeena river, one on the Fraser.
But why is gold always assumed to be money today? Couldn’t a black swan event be for Platinum to take it’s place? Or something else?
Personally I think gold will probably be worth over $1500/ounce by the middle of this year. With room for upward growth. But it seems strange to me psychologically that everyone assumes an inherent value in gold. It’s just another metal.
Mars.
I had no idea Wood was part of the Gorn Hegemony.
But why is gold always assumed to be money today? Couldn’t a black swan event be for Platinum to take it’s place? Or something else?
Personally I think gold will probably be worth over $1500/ounce by the middle of this year. With room for upward growth. But it seems strange to me psychologically that everyone assumes an inherent value in gold. It’s just another metal.
Platinum is valuable in its own right, but has never been as popular as gold as a unit of currency, probably because it was far rarer than gold back in the early days of civilization. These days, platinum is also a heavily used industrial metal, and so has more violent swings in pricing. Again, stability is a quality almost unique to gold.
Sure, it’s “just another metal” in absolute definition, but its “the best metal” w regard to stores of value which translate into tradeable (portable) currencies.
There’s probably a “best wood” for such purposes too, but because wood degrades, its not even as good as the “middle of the road-est” metal for those purposes.
Am I making any sense ovah heah?
________
Thanks Jake-
Looks like we are in for another roller coaster ride today. This market is hard to play if you are a day trader. You have to be really quick and nimble.
I play the swings. I am a perma-bear and go short at certain points and take profits when I think the trade is getting crowded. I also like to play the iETF’s. Fuck Cramer and his bashing of them.
You do have to be a skeptic and maybe even a cynic to be a perma-bear short seller. But it works for me.
Bennet Sedacca
10:43:59 AM
No positions in stocks mentioned.
Money fund issues?
Possibly the next shoe to drop are money market funds.
As I mentioned in my article yesterday, they are one of the problem children. Many funds have put up ‘gates’ and restricted withdrawals. A few have broken the buck. Some are even being subsidized buy companies that may be doomed for failure (Legg Mason (LM) and State Street (STI) come immediately to mind).
At this time, all of our cash balances, heretofore in Treasury Money funds will be re-directed to T-bills.
My firm has stepped up our selling of even our higher coupon Mortgage Backed Securities as the bids are well… simply irresistible. They have performed so well, I am stunned and amazed at the bids. The risk/reward is now poor across the board however.
go2mars – I’m talking about the market meltdown not the toxic assets and crap the banks had. If Paulson had rescued LEH the markets would not have collapsed. We’d probably still be around Dow 10,000. People lost their faith in the financial system the day LEH went under. You don’t let a big bank like LEH go under. LEH going under was responsible for the problems with AIG which in turn froze the credit markets which in turn has caused the current business slump. Sure we’d have had a slowdown. We were already in a recession. But this lockdown of the credit markets magnified things many times over.
Who is John Galt?
I had no idea Wood was part of the Gorn Hegemony.
Well, as a non-bipedal diplodicus, he’s only related by marriage on his mother’s side.
His mother’s sister, better known as “Nessie,” married a Gornish duke right around the time Moses brought the tribes out of Egypt. As you know, the settled in the Scottish moors soon thereafter, much to the chagrin of the local Picts.
_____
He’s now my lover, Hank….and I still have your bracelet.
JakeGint:
I agree with your last post to me there. I am just suggesting that cornering the gold market might not work, and trying to draw a scenario or two that would thwart it. A switch to some type of rare wood, as a replacement for gold is not a zero possibility.
CAP:
I disagree. In fact, I think they should have let the entire house of cards collapse. In Canada, the government assures everyone that they’ll get back up to $60k per person in the event of a catastrophic and widespread bank collapse. I’m not sure if there is something similar in the states, but it hurts less to rip a band-aid off quick in the end.
You’re talking about the choice between a year of complete chaos, followed by “on with the show”. All these bail-outs do is magnify and spread out the suck into future years.
Mars.
And the bailouts spread the shit to everyone. Even some janitor who has never heard the word mutual fund, and rents a basement suite somewhere will have to pay higher taxes for a couple decades because of these bailouts, stumuli, and related shit.
Mars.
Well, as a non-bipedal diplodicus, he’s only related by marriage on his mother’s side.
Love works in strange ways – at least she stayed within the Sauropsida Class when choosing mating prospects.
His mother’s sister, better known as “Nessie,” married a Gornish duke
I guess he had a Loch on her heart.
The Chart Addict
At least something makes sense, well.. at least for the majority of us.
Adding another 2,000 VISA short right here at 56.40.
Full position now 3,000 short V.
Btw, who owns this clown? WHO? 45x EPS in a Depression. WHO OWNS THIS SHIT?
I think they had to let someone fail. Just to let those greedy fucking bankers know, that they weren’t 100% “safe”.