n-Financial Theology: Banks at Trimalchio's Feast and How to Hold Members of the US Fed Personally Liable For Misrepresentation under the 1913 federal Reserve Act

1. The CDS spread over libor tells us BARCLAYS is being adjudged worrisome amongst its peers:

Source: http://www.zerohedge.com/news/presenting-warren-archimedes-buffetts-amazing-24-hour-monster-bank-america-due-diligence-sessio

2. Yesterday, Warren Buffet after a day due diligence entered into a sweetheart deal with Bank of America. Remember how Warren saved Goldman Sachs back in 2008? The hoi polloi back then thought if Warren could do it then he was both heroic and patriotic. Now, his move on BAC may be interpreted not as a savvy trade but as one of those moves of a sick empire. My reference here is Trimalchio's Feast in Petronius' Satyricon. [By the way, the best modern translation of that end of Empire novel is Fellini's film rendition.] It's grating to read the management of BAC saying they need no capital and that Warren's capital injection therefore was unnecessary. Then why accept it in the first place? And why allow him such a gigantic upfront premium to get in? For my law and finance students, here's the disclosure document dated August 25, 2011: http://www.sec.gov/Archives/edgar/data/70858/000119312511232422/dex11.htm

For a more journalistic interpretation, see: http://www.bloomberg.com/news/2011-08-26/buffett-s-bofa-investment-is-latest-to-capitalize-on-wall-street-weakness.html

And of course, for a more sarcastic wit and invective which can inform your trading view, see zero hedge: http://www.zerohedge.com/news/presenting-warren-archimedes-buffetts-amazing-24-hour-monster-bank-america-due-diligence-sessio


3. Two other "events" as in Badiou's Being and Event are worth mentioning today: (1) Greece has tapped its emergency loan facility which means really, really, this time we are just a hair away from either a bank run or amalgamation of banks or revolution based on bank-government fraud catching up to depositors who are still crazy enough to hold deposits and (2) Ben Bernanke's Jackson Hole speech which the Market is discounting a "no QE3". Even if he announces a QE3, it is largely irrelevant to the NON-HUMAN BEINGS, because the ALGOS built by 20-year olds have taken over. Look at Dell's 10,000 unhit bids yesterday! The Capital Markets - What use to be the crowning glory of free capitalism ideology has become totally dissociated from productive capital, merely serving as a distraction for the guests at Trimalchio's last dinner.

4. 1, 2 and 3 are data feeds to grand models which might be called EXISTENTIAL MODIFIERS. See for example: Bostrom's works on "existential risk": http://www.existential-risk.org/concept.pdf and The future of humanity: http://www.nickbostrom.com/papers/future.pdf.
There are also a number of complexity theorists seeing a strong correlation between food prices and riots and wars. Duh.

5. A much more interesting form of "for public activist research" would be to see whether the members of the US Fed could be held civilly liable for misrepresentations under Title XII, Ch 3, Subchap XVI, Sec 503. See: http://www.law.cornell.edu/uscode/12/usc_sec_12_00000503----000-.html