FB: Liberty League

[JT]

Attention LLPP. Kendra has her own show on E!.  Tonight is the first show at 10 PM.  We must do everything we can to keep this on the air.  It is that good at 13 minutes in.  It is must watch for the LLPP.

The Rev used to watch Girls Next Door, but then got to the point where he could only watch it on "mute".

Does Kendra talk or laugh on her new show?  If so, The Rev is even gladder to be in another country.

Yes.

But JT couldn't resist.  She put a stripper pole in the living room.  She thinks Rice a Roni is mexican food.  She wanted to make Rice Crispy treats... bought the cereal but not the marshmellows.

JT doesn't know whether Philly W/R Hank Baskett is a lucky man or out of his mind.

JT will be back for more episodes.

[lewdogg11]

LD11 will highly recommend 'The Hangover'.  Amazing flick.  Instant Classic...Makes my weekends feel not so weird.

[Jonny Utah]

So JU was going to check his hotmail yesterday but instead of typing hotmail.com, I typed hoMTail .......

needless to say I was in for one of the most disturbing images I have ever seen on the internet.  Type it in if you dare, but dont say I didnt warn ya.

And its not that obsene, but I would say its probably NSFW

(I just took the .com part off the end of the typo so we wouldn't show up in search engines that way./pcole)

[union89]

So JU was going to check his hotmail yesterday but instead of typing hotmail.com, I typed hoMTail.com.......

needless to say I was in for one of the most disturbing images I have ever seen on the internet.  Type it in if you dare, but dont say I didnt warn ya.

And its not that obsene, but I would say its probably NSFW

I have ABSOLUTELY no comment.

[Knightstalker]

So JU was going to check his hotmail yesterday but instead of typing hotmail.com, I typed hoMTail.com.......

needless to say I was in for one of the most disturbing images I have ever seen on the internet.  Type it in if you dare, but dont say I didnt warn ya.

And its not that obsene, but I would say its probably NSFW

That is now burned into my retinas forever, Damn you JU!

[dlippiel]

So JU was going to check his hotmail yesterday but instead of typing hotmail.com, I typed hoMTail .......

needless to say I was in for one of the most disturbing images I have ever seen on the internet.  Type it in if you dare, but dont say I didnt warn ya.

And its not that obsene, but I would say its probably NSFW

(I just took the .com part off the end of the typo so we wouldn't show up in search engines that way./pcole)

My ****ing Eyes!!!

[SaintsFAN]

So JU was going to check his hotmail yesterday but instead of typing hotmail.com, I typed hoMTail .......

needless to say I was in for one of the most disturbing images I have ever seen on the internet.  Type it in if you dare, but dont say I didnt warn ya.

And its not that obsene, but I would say its probably NSFW

(I just took the .com part off the end of the typo so we wouldn't show up in search engines that way./pcole)

Goddamn the internet has some weird 'ish on it..

['gro]

[pumkinattack]

Here's a piece of financial news that's far more significant than anything the stock market that you've seen in the last two months:

'Fierce Rally' Under Way for Leveraged Loan CDOs (Update2)

June 8 (Bloomberg) -- A "remarkable change" in investor sentiment has doubled the price of some collateralized loan obligation securities in the past month, according to Morgan Stanley analysts.

CLOs are a type of collateralized debt obligation that pool high-yield, high-risk, or junk, loans and slice them into securities of varying risk and return. Pieces graded AA, the third-highest level of investment grade, rose to 47 cents on the dollar from 23 cents in the past month, Morgan Stanley analysts led by Vishwanath Tirupattur wrote in a June 5 report. Securities ranked A have gained 13 cents to 23 cents since the end of last month, the report said.

Ares Management LLC and Boston-based Sankaty Advisors LLC are among investors that started bidding on CLO securities in late April and the first week of May. Prices for portions with A ratings had dropped 90 percent since the financial crisis began in 2007 even as the loans packaged in them had regained some of their value. The S&P/LSTA U.S. Leveraged Loan 100, an index of loans rated below investment grade, rose 12 cents from Dec. 31 to 73.6 cents on the dollar on May 1. Loans have since increased in value to 79 cents.

"The continuing rally in underlying leveraged loans has been a major driver of this change in investor sentiment," on CLOs, the analysts wrote in the report. A "fierce rally" is under way, they wrote.

Higher Returns

The top-rated CLO bonds have risen to 77 cents on the dollar from 71 cents in May, the report said. High-yield, high- risk loans are rated below Baa3 by Moody's Investors Service and BBB- by Standard & Poor's.

Investors bought CLOs because they had higher returns than similarly rated securities. As cash flowed into these funds, they bought almost two-thirds of the funded loans that financed the record $616 billion of leveraged buyouts in the first half of 2007, S&P LCD data show.

The CLO market began to tumble in July 2007 when losses on subprime-mortgage securities caused investors to flee from structured finance. That left banks stuck with more than $230 billion of debt backing buyouts they couldn't easily sell and led to a collapse in leveraged loan prices to a record low of 59 cents on the dollar in December from above face value, according to the S&P/LSTA index.

Downgrade Pressure

Ares, a Los Angeles-based investment firm with $29 billion in assets under management, sought to buy 22 pieces of CLOs with a face value of as much as $767.6 million on May 6. Boston-based Sankaty, the debt investment arm of Bain Capital LLC, offered to buy as much as $949 million of its own CLOs and those of other managers including Minneapolis-based RiverSource Investments LLC, Eaton Vance Corp. and Deutsche Asset Management Inc. at the end of April.

CLOs are still facing pressure from downgrades of the underlying loans, which are typically used to finance buyouts. The loan funds have limits on assets rated CCC, the eighth- highest junk rating by S&P, and similar ratings by Moody's. If a portfolio has too many of these assets, it will trip certain tests it needs to meet.

The percentage of assets in CLOs graded CCC "continues to increase," the analysts wrote. More than half of U.S. CLOs are failing the junior over-collateralization test, they said.

The rally in the securities may be close to over as rating companies downgrade the CLO debt, the analysts wrote.

"We are more comfortable with the rally in the AAA tranches than we are with the exuberance lower down the capital structure," the analysts wrote.

The shadow credit market, finance at the margin (because the margin is where access and pricing occurs), is more important than whether Jonny can get a small business loan for his ice cream shop even to the average schmo, whether they realize it or not.  The fact that AAA rated tranches a priced at a little under 80 cents on the dollar isn't a problem since it accounts for credit spreads that were too tight (e.g. BB rated term loan B at L + 150) and diminished liquidity.  CCC rated loans are and will always be crap.  Milken did wonders by creating the high yield market, but the fact remains that 80 - 85 percent of "junk" companies never obtain investment grade status. 

[Jonny Utah]

more like:

[PBR...]

more like:

LMAO...JU u definetly have some issues to work out!

[JT]

So JU was going to check his hotmail yesterday but instead of typing hotmail.com, I typed hoMTail .......

needless to say I was in for one of the most disturbing images I have ever seen on the internet.  Type it in if you dare, but dont say I didnt warn ya.

And its not that obsene, but I would say its probably NSFW

(I just took the .com part off the end of the typo so we wouldn't show up in search engines that way./pcole)

That was truly painful.

[AUPepBand]

btlew has posted the following in the LL's Posting Up:

Noticed this in the Sunday Democrat and Chronicle and it has kind of flown under the radar here:

http://www.democratandchronicle.com/article/20090606/SPORTS09/906060322/1007/SPORTS/RIT+joining+Liberty+League

Interesting that it was in the paper ... but nothing on RITs site or the Liberty League site.  Maybe due to the 'pending approval' caveat that was stated in the story.

Pep has from a reliable source that indeed, the LL has agreed to admit RIT for all sports effective September 2011, "pending LL presidents' approval."

It appears Ithaca and Nazareth will remain in the E8.

[dlippiel]

Is it me or is A.J. Burnett ****ing pissing off any other Yankees fans right now? Can this ****ing guy compete here or what? If not get his ass out, I am tired of this bull**** with him in Boston. I am actually happy for Ortiz and his HR though. He is a class guy who does a **** load for charity and I really don't enjoy seeing him struggle. Start pitching A.J. or get the **** off the mound!!!

[Knightstalker]

Todays 70's flashback video of the day.
http://www.youtube.com/watch?v=8Qnoh3h6JD8