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Way Too Big To Fail


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ALGIERS, Jan 19 (Reuters) - A powerful explosion on Monday at Algeria's largest refinery and key exporter of gas and oil in the Mediterranean port city of Skikda killed 13 workers and caused extensive damage. At least 74 people were injured in the blast at the petrochemical complex in the industrial zone of Skikda some 500 km (310 miles) east of the capital Algiers, the state radio said, citing the latest official toll.

 

http://biz.yahoo.com/rm/040119/energy_algeria_blast_5.html

The energy minister said the unit had been entirely destroyed.

 

Refinery officials said the blast was under investigation but early indications were that it was accidental.

 

There are no terrorists in Algeria. Nothing to see here, move along - but try to get some natural gas somewhere else if you can.

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"The Treasury today announced the call for redemption at par on May 15, 2004, of the 9-1/8% Treasury Bonds of 2004-09, originally issued May 15, 1979, due May 15, 2009 (CUSIP No. 912810CG1). There are $4,606 million of these bonds outstanding, of which $3,109 million are held by private investors. Securities not redeemed on May 15, 2004 will stop earning interest."

 

"These bonds are being called to reduce the cost of debt financing. The 9-1/8% interest rate is significantly above the current cost of securing financing for the five years remaining to their maturity. In current market conditions, Treasury estimates that interest savings from the call and refinancing will be about $544 million."

 

Public Debt News

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Pakistani agents are struggling to determine whether an Al-Qaeda leader is among seven suspected members of the terror group arrested in a weekend raid, and they've called in the FBI to help interrogate them, intelligence officials said on Monday.

 

http://www.hindustantimes.com/news/181_538909,00050002.htm

 

 

Isn't it too early to be playing the Osama card?

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Asia is rocking tonight.

 

Wire to Wire Meltups across the board.

 

New highs in Korea, Hong Kong, Japan.

 

Its going to be fun riding those 1999 Screamers tomorrow!!!

As I (and Piledriver...and occasionally a few others) have been saying for oh...roughly 6 months: The markets are going higher - much higher. PILE IN. I'm ending a flat weekend after a big cash out Friday and will be in again tomorrow...100%.

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for mark:

 

http://www.marketwatch.com/news/yhoo/story...oo&dist=myyahoo

 

FHA proposal would let homebuyers in with no cash

Up next. Bush proposes college seniors should be allowed to purchase their first home. As higher education ensures a bright future and better earnings opportunity, college seniors should be encourgaged to invest in their first home at the same time they plan on beginnging their journey of life post-graduation. FHA will allow all seniors from any accredited colleges with a 2.0 grade point average to obtain a mortgage equals to 100% of the value of the home plus all closing costs. The payments of the mortgage will be deferred until sustained earned wages are received by those seniors who take out mortgages under the program.

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Both the down payment and closing costs would be rolled up into the no-down loans as well, leaving buyers an out-of-pocket cost of zero. That would leave buyers with a mortgage amount in excess of the purchase price of the house, which would be the first time the FHA would be making such loans.

 

And they call that home "ownership" ..... :lol: Just what the heck do you "own" but a massive debt that exceeds the value of the home which in turn is owned by the government who ....

 

Absolutely comical...

 

Ag

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Now watch it Sled that poutine crack will upset the Quebecers who are Francais-reminds me of the story about the ocean liner sinking and the Canadian Capt. said women and children first, the Murican First Mate said screw the women and jumped in the Life Boat-the French Second Mate looked at both of them and said " Do you think we will have enough time"? Trade Safe! B)

At my graduation dinner from McGill law, my girlfriend and date, a young french cdn woman, embarked on a 45 minute ...discussion... verging on tirade... after someone referred to her as a french canadian. The gist was that she was neither "french" nor "canadian", but rather a "quebecoise". Quite a moment, that.

 

Well, we had some good times and helped each other through a challenging stretch, despite my believing that her separatist sympathies made her guilty of treason, defined in the Criminal Code (inter alia) as "alarming her majesty". As Fxfox so wisely notes, "patriot" is comprised of "patria" and "idiot", 2 qualities from which my fellow quebeckers have not been immune.

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