What I'm Beating TLP With: 10/3/10
Never a shortage of interesting news.
Rick Sanchez Cuban Jew Matthew Yglesias jumps into the whole Rick Sanchez thing which I pretty much missed until today. It is rare that I read Think Progress and don't throw up in my mouth a little bit but the extreme leftists charmed me with their view on this clusterfuck. "What would make the problem better is some kind of apology, a beer summit with Jon Stewart, and continued coverage of the news with no further outbursts." Well done. (Think Progress)
Structured Notes: The Retail Broker’s Own Little Synthetic CDO It wasn't the meat of the article itself but the threat that caught my eye. "In the coming weeks, I'm going to put the entire Structured Products and Reverse Convertible business on blast, but now is not the time." On top of that, it's always sad to read about 84 year old grandmas getting suckered into structured notes. Indictments or it didn't happen. (The Reformed Broker)
IRS launches online PTIN registration system The new IRS rules on tax preparers are a bit confusing but here are some answers. Not everyone needs a PTIN but everyone must be sick of the Service by now. (CPA Success)
Tax Policy Nerds Try to Debunk Each Other’s Debunking Over “The Largest Tax Hike in History” Speaking of taxes, this "largest tax hike in history" thing is one hell of a bitchfight eh? (Going Concern)
How to Pay for Social Security It is not the unconventional approach to "fixing" Social Security that I appreciated but the fact that reading this left me with a sinking suspicion that we could just make up whatever we want to plug the SS hole. DR old people CR who the fuck cares we're making it up anyway. (Angry Bear)
Cram Down the Ultimate $100 Trillion Bailout, U.S. Dollar Value Fast Meltdown Ahead At this point, the metaphors are too clear to be ignored. "you are definitely better off giving than receiving a Cram Down." (Market Oracle)
Clusterf**k nation When tax cuts become the last shred to unravel from the social contract (Animal Spirits)
Lady Godiva Was a Supply Sider Our favorite former Dirty Fed operative blogger reveals he doesn't much care for the Velvet Underground but uses Encarta all while giving us lessons in running naked through town to champion tax cuts, currency wars and being a whiny bitch. (Bob McTeer)
p.s. Skeptical CPA, they're looking for you and wish you'd come back to ream the SEC again.