And now, as the stock market crashes again, please enjoy some nice, good Enya.

Oh screw it–

FUCK FUCK FUCK YOU PIECE OF SHIT I TOLD YOU TO SELL ALL OF MY STOCKS NOW MOTHERFUCKER SELL SELL SELL EVERYTHING ARRRRGGH!

Please feel free to vent in the comments. Namaste, bitches.

[Editor’s Note: I have no idea what “nice, good Enya” is. I just told YouTube “Enya” and picked a non-fan video.]

[Editor’s Note #2: Enya has fans? Who knew?]

Roubini predicted this mess in 2006, but did anybody listen?  Nooooo ….

Hundreds of hedge funds will fail and policy makers may need to shut financial markets for a week or more as the crisis forces investors to dump assets, New York University Professor Nouriel Roubini said.

“We’ve reached a situation of sheer panic,” Roubini, who predicted the financial crisis in 2006, told a conference of hedge-fund managers in London today. “There will be massive dumping of assets” and “hundreds of hedge funds are going to go bust,” he said.
…
“Systemic risk has become bigger and bigger,” Roubini said at the Hedge 2008 conference. “We’re seeing the beginning of a run on a big chunk of the hedge funds,” and “don’t be surprised if policy makers need to close down markets for a week or two in coming days,” he said.

See you on the breadlines.  More after the jump.

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In today’s episode of NCHP, we once again find the Bush administration hard at work hiding shit that we’re supposed to know about:

The Treasury Department has hired three outside firms this week to help administer its $700 billion, taxpayer-funded bailout of troubled banks. But some key details of those contracts remain a mystery.

The agreements with Bank of New York Mellon Corp. and Simpson Thacher & Bartlett LLP that the Treasury Department posted on its web site each had blacked-out paragraphs in the sections dealing with compensation.

Keep in mind, fellow Stinquers, that the costs of the accountants, law firms, and bankers that will be cleaning up after the Bush administration’s administration of our economy will be over and above what cash we’re injecting into the banks and insurance companies we now own.

More on this latest outrage after the jump.

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Since none of you bothered to bid, it looks like Iceland is officially bankrupt:

The credit crunch claimed its first sovereign scalp last night as Iceland readied itself to accept an International Monetary Fund (IMF) bailout. … The IMF may provide about $1 billion in emergency cash for Iceland with the balance lent by Norway, Sweden and Denmark and additional money possibly coming from Russia and Japan.
…
The IMF is likely to attach stringent conditions to the loan, including the stipulation that Iceland quickly deleverage its three nationalised banks Kaupthing, Landsbanki and Glitner.

Who’s next?  Pakistan? California? Did you forget Poland?

Report: Iceland to Accept IMF Bailout [Calculated Risk]

Not to turn Stinque into Calculated Risk, but:

TITANS 102.73 -7.36 -6.69%

HSI 14796.87 -1146.37 -7.19%

NIKKEI 8276.43 -881.06 -9.62%

STI 1948.33 -154.38 -7.34%

CHINA 2000.572 -74.011 -3.57%

KOSPI 1241.47 -53.42 -4.13%

SET 451.96 -48.03 -9.61%

ASX-200 3960.7 -360.20 -8.34%

My guess is Dow down 5-7% today … but who knows!  Isn’t unfettered capitalism teh awesome?!!!1?!

Small Country 4 Sale – €4.2 trillion Euros OBO

Located N. Atlantic Ocean, pop. 320,000; 285,274 BR; 279,305 FB; 102,992 HB; 103,000 sq. km. lot.  Excellent loc. due to global warming; first world infrastructure w/ old world charm.  Includes abundant geothermal energy, great fish stocks, and Bjork. Recently 4th most productive country in world.  All reasonable offers considered. Payment methods acceptable: rubles, euros, MC, Visa, Diners Club.  No personal checks, no US$-denominated offers.  Ask for Mr. Haarde.

• it’s not ok to contact this poster with services or other commercial interests

PostingID: 86763248

I can’t pick an outrage today because there are too many, so I will link to several that are pissing me off.  You can certainly add others in the comments.

• After already doling out an $85 billion bridge loan in September, the Federal Reserve Board announced yesterday “that it would provide up to $37.8 billion to the embattled insurer the American International Group to help it deal with a rapidly dwindling supply of cash.” This despite the little executive bash AIG threw.
• “Todd Palin talked with over a dozen state officials, many of them repeatedly, in his crusade to get a state trooper fired whom he considered to be a bad cop, a dishonest person and a threat to the Palin family, according to his sworn statement given Wednesday to a legislative investigator.”
• On Monday, the Ohio Republican Party filed a motion in federal court against the secretary of state to get the list of all names that have been flagged by the Social Security database since Jan. 1. The motion seeks to require that any voter who does not clear up a discrepancy be required to vote using a provisional ballot.

Jump.

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