north american bummerverse containment zone 1.3: Kissinger Mourning Zone

The Something Awful Forums > Discussion > Serious Hardware/Software Crap > YOSPOS > north american bummerverse containment zone 1.3: Kissinger Mourning Zone

«‹›2112 »

SardonicTyrant: Feb 26, 2016; BTICH IM A NEWT
熱くなれ夢みた明日を
必ずいつかつかまえる
走り出せ振り向くことなく
&

Beeftweeter posted:

remember that really bad speed racer movie with the guy from lost lol

The Speed Racer movie is a lot of fun.

# ? Apr 20, 2024 04:26

Adbot: ADBOT LOVES YOU

# ? May 3, 2024 06:43

Pittsburgh Fentanyl Cloud: Apr 7, 2003; Can't post for 55 minutes!

There's a video in the reboot of guys in Paris doing parkour where Butthead insists it's actually Houston and that video alone is worth whatever the reboot cost

Beavis and Butthead making GBS threads on Youtube is what they were always meant to do

# ? Apr 20, 2024 04:40

Kitfox88: Aug 21, 2007; Anybody lose their glasses?

SardonicTyrant posted:

The Speed Racer movie is a lot of fun.

the wachowski speed racer is top loving tier

# ? Apr 20, 2024 04:54

Pittsburgh Fentanyl Cloud: Apr 7, 2003; Can't post for 55 minutes!

https://www.youtube.com/watch?v=YVZML-4S-FE

# ? Apr 20, 2024 05:04

post hole digger: Mar 21, 2011

dioxazine posted:

https://fortune.com/2024/04/18/jamie-dimon-pressure-good-job-for-country-family-first/

i hope this makes every american citizen feel better

the guy who set himself on fire and said George hw bush made easy rider to preprogram the counterculture or whatever is 100% less insane and perverted than Jamie dimon saying something like this

# ? Apr 20, 2024 05:06

eschaton: Mar 7, 2007; Don't you just hate when you wind up in a store with people who are in a socioeconomic class that is pretty obviously about two levels lower than your own?

well yeah and why do you think the next wave of counterculture was all led by kids of prominent members of the military industrial complex in Laurel Canyon

# ? Apr 20, 2024 12:19

Ruffian Price: Sep 17, 2016

overlapping perfectly with the Yanny Canyon

# ? Apr 20, 2024 12:26

Kenny Logins: Jan 11, 2011; EVERY MORNING I WAKE UP AND OPEN PALM SLAM A WHITE WHALE INTO THE PEQUOD. IT'S HELL'S HEART AND RIGHT THEN AND THERE I STRIKE AT THEE ALONGSIDE WITH THE MAIN CHARACTER, ISHMAEL.

Ruffian Price posted:

overlapping perfectly with the Yanny Canyon

# ? Apr 20, 2024 14:20

Beeftweeter: Jun 28, 2005; OFFICIAL #1 GNOME FAN

Pittsburgh Fentanyl Cloud posted:

https://www.youtube.com/watch?v=YVZML-4S-FE

lmao damnit i regret not watching this while i had paramount+

guess i will just pirate it

# ? Apr 20, 2024 14:43

Beeftweeter: Jun 28, 2005; OFFICIAL #1 GNOME FAN

also wsj has an article about how one apartment complex in brooklyn almost "sparked a banking panic"

...and surprise: it's probably not alone!

(this is the whole article, no link unless someone wants it; paywall)

quote:

The Coney Island Apartment Complex That Nearly Sparked a Banking Panic

Investors are worried about ticking time bombs on banks� balance sheets. Warbasse Houses was one.

Amalgamated Warbasse Houses, a sprawling apartment complex blocks away from the Coney Island boardwalk, was an unlikely spark for a near panic in the banking industry earlier this year.

Few people knew it at the time, but the 1960s-era complex was a ticking time bomb buried in the balance sheet of New York Community Bancorp. When the bank revealed big losses on real-estate loans, which included Warbasse and another high-dollar property, its shares fell 60%, pulling down other lenders.

Regional banks have started to report first-quarter earnings, and investors are worried that more Warbasses will be revealed. Shares of these small and midsize banks, which are stuffed with loans for office buildings, apartment complexes and other commercial properties, are near their lowest level in five months.

NYCB�s $112 million charge-off on the Warbasse loan in last year�s fourth quarter was a surprise. Banks typically don�t disclose the names of their borrowers or how much they owe, and NYCB didn�t identify Warbasse by name in its financial disclosures, either.�Clues left behind by the lender and the sheer scale of the complex�s mortgage helped unmask Warbasse.

NYCB said the loan was for a co-op and had �a unique feature that prefunded capital expenditures.� In addition, Wall Street stock analysts who had spoken with NYCB management said in their research reports that the unpaid principal balance was $275 million, which is huge for a co-op loan.

Those few details were enough to allow The Wall Street Journal to identify the borrower through a review of more than 70,000 NYCB real-estate loan records filed with the New York City Department of Finance. Details about the large capital spending at Warbasse were covered in the local real-estate press. The co-op�s identity was also confirmed by a person familiar with the matter.

NYCB spokesman Steven Bodakowski declined to comment. The other loan cited by NYCB was less unusual�a $40 million charge-off on a nonperforming loan for an office building.�

There were times this year when it looked like NYCB could be on the brink and might even trigger a new regional banking crisis, less than a year after Silicon Valley Bank�s collapse. NYCB had been one of the beneficiaries of last year�s brief flurry of bank failures. It acquired most of Signature Bank�s deposits and about a third of Signature�s assets from the Federal Deposit Insurance Corp.

After its Jan. 31 earnings release, NYCB changed chief executives twice. The panic cooled after an investor group led by former Treasury Secretary Steven Mnuchin�provided a lifeline by injecting $1 billion of fresh capital.�(beefnote: lmao)

Warbasse is practically a small city unto itself. It has five 24-story towers, 2,585 units, about 8,000 residents and its own power plant. It was built as affordable housing for union families by the Amalgamated Clothing Workers Union and the United Housing Foundation, according to the co-op�s website.�

Warbasse covers almost 27 landscaped acres and has a big contingent of Russian immigrants. Brighton Beach, a Russian enclave, is a few blocks away. The complex, where a two-bedroom apartment with a terrace costs about $1,700 a month, has a waiting list to get in.�

Warbasse�s age, its location near the ocean and damage from Superstorm Sandy in 2012 help explain the unusually large mortgage.

The co-op refinanced its mortgage in 2014, borrowing $200 million from NYCB. Half of that was set aside for capital projects, according to a September 2021 article about Warbasse by Habitat Magazine, which covers the New York co-op scene. This appears to be the �prefunded capital expenditures� referred to by the bank.�

The article said the Atlantic Ocean�s �corrosive salt air, punishing winds and occasional floodwaters,� had wreaked havoc on the property over the years. Leaks got so bad that residents began referring to the co-op as �Water-basse Houses,� the article said.

An engineering firm hired by the board in 2017 found that �the whole system was at the end of its life,� Michael Silverman, the longtime co-op board president, told the magazine. �We were one step short of a complete catastrophe.�

Silverman and other co-op board members declined to comment. Warbasse has undertaken a major renovation project since then, the magazine article said.�

Property records show Warbasse refinanced again in March 2022, when it took on the new $275 million mortgage from NYCB.�

While the borrower and the charge-off on the loan are known, there are still some mysteries behind it. NYCB said the borrower wasn�t in default. But the way it accounted for the loan loss made it clear that NYCB had determined the loan wouldn�t be fully collectible. The bank didn�t say why.

It wasn�t clear from public records if Warbasse had an interest-only loan. The copy of its mortgage filed with the city showed the original $275 million principal amount, but not the interest rate or maturity date.�

Weeks after NYCB took the loan loss that helped shatter its stock, the bank sold the loan to Bank of America, which has a large mortgage-trading desk. BofA spokesman Bill Halldin declined to comment on the bank�s plans for the Warbasse loan.

now i had no idea you could get a 2br in brooklyn for $1.6k at all, and probably would have moved there even if i knew it was likely to completely fall apart lol

either way, probably not good that there are likely a lot of these kinds of loans, and lmao @ them just giving it to bank of america, who apparently has no idea what to do with it either. i'd bet they'll just eat the loss. also lmao @ giving them interest-only loans for a total of like ~$525 million (idk i didn't go back and add them up)

Beeftweeter fucked around with this message at 14:58 on Apr 20, 2024

# ? Apr 20, 2024 14:53

ShadowHawk: Jun 25, 2000; CERTIFIED PRE OWNED TESLA OWNER

Isn't it pretty straightforward? Someone took a large loan from the bank in the beforetimes and is paying back a low interest rate. Now with going interest rates being higher those payments are worth less in absolute terms, so the book value of the loan needs to decrease. Now there's a loss on the bank's balance sheet.

The inevitable result is that the bank needs more capital than it did before, and existing shareholders need to get diluted. Or the bank goes bankrupt and equity-holders fulfill their sacred duty of taking losses before depositors.

The exception to the above is when a bank holds a loan "to maturity", then it doesn't need to revalue it as an asset every time interest rates change.

But if the loan is at risk of defaulting, then I think they're forced to mark-to-market the loan. Hence, devaluation with vague explanation.

# ? Apr 20, 2024 23:59

Beeftweeter: Jun 28, 2005; OFFICIAL #1 GNOME FAN

that all makes sense, yeah, and i think is basically what the article boils down to (though they don't really lay it out that way). i'm kinda high though and am not very good at this sort of thing anyway

but the article also mentions the principal ($275 million) on what seems like their most recent was unpaid, and it doesn't mention that about any of the others, so i guess we can assume it was? still seems strange the loss would be that large

# ? Apr 21, 2024 00:14

graph: Nov 22, 2006; aaag peanuts

Ruffian Price posted:

overlapping perfectly with the Yanny Canyon

# ? Apr 21, 2024 00:14

dioxazine: Oct 14, 2004

https://www.theverge.com/2024/4/20/24135163/tiktok-ban-divest-bytedance-house-foreign-aid-package

quote:

TikTok �ban� passes in the House again, moving to the Senate in foreign aid package

The House once again passed a bill that could ban TikTok from the US unless its Chinese parent company ByteDance divests it � but this time, it�s in a way that will be harder for the Senate to stall.

The bill passed 360-58 as part of a larger bill related to sanctions on foreign adversaries like Russia. It�s part of a package of foreign aid bills that seek to provide military aid to Ukraine and Israel and humanitarian aid to Gaza. Due to the urgency of the funds, packaging the TikTok bill with these measures means that the Senate will need to consider the proposal more swiftly that it would as a standalone bill. The earlier TikTok bill, which passed the House 352-65 just last month, has so far lingered in the Senate, with lawmakers there giving mixed messages about its future.

though as i understand it, the "humanitarian aid to gaza" also includes a rider that bans funding for UNRWA until 2025 march

# ? Apr 21, 2024 14:57

bump_fn: Apr 12, 2004; _{two of them}

there are idf soldiers in gaza im sure the us govt wants to give them aid

# ? Apr 21, 2024 15:07

Fabricated: Apr 9, 2007; Living the Dream

wonder if we're still building that dock, lol

# ? Apr 21, 2024 18:41

dioxazine: Oct 14, 2004

Fabricated posted:

wonder if we're still building that dock, lol

one of them caught on fire and had to go home

https://www.military.com/daily-news...her-delays.html

quote:

Navy Ship Slated to Help Build Gaza Aid Pier Forced to Return to Port as Experts Warn of Other Delays

...

Ryder said the construction of the two piers will probably begin "in the next two to three weeks."

# ? Apr 22, 2024 18:12

dioxazine: Oct 14, 2004

in other news:
https://twitter.com/business/status/1781899273275064645

# ? Apr 22, 2024 18:13

post hole digger: Mar 21, 2011

Niall Ferguson is reliably one of the stupidest people on earth. god bless him.

# ? Apr 22, 2024 18:28

qirex: Feb 15, 2001

I mean almost makes sense if you think of the usa and it hegemonic allies as sauron

I'm gonna guess that's not what he's going for

# ? Apr 22, 2024 18:33

Pittsburgh Fentanyl Cloud: Apr 7, 2003; Can't post for 55 minutes!

soyfacing at my laptop while I type up an article about how Russia is House Slytherin

# ? Apr 22, 2024 18:39

SardonicTyrant: Feb 26, 2016; BTICH IM A NEWT
熱くなれ夢みた明日を
必ずいつかつかまえる
走り出せ振り向くことなく
&

dioxazine posted:

in other news:
https://twitter.com/business/status/1781899273275064645

It's kind of amazing in a despairing way seeing people who don't understand material conditions trying to explain how the world works through pop culture. Every time it happens I feel more and more like I was born on the wrong planet.

# ? Apr 22, 2024 18:41

qirex: Feb 15, 2001

SardonicTyrant posted:

It's kind of amazing in a despairing way seeing people who don't understand material conditions trying to explain how the world works through pop culture. Every time it happens I feel more and more like I was born on the wrong planet.

"I think I am very smart but I need to explain something to people who I think are very dumb, I know, I'll use a pop culture analogy to clearly demonstrate I don't understand both the reference and the underlying issue"
- someone whose parents paid for columbia journalism school, probably

# ? Apr 22, 2024 18:44

Truman Peyote: Oct 11, 2006

china, russia, and iran: three best friends

# ? Apr 22, 2024 19:13

Internet Old One: Dec 6, 2021; Coke Adds Life

dioxazine posted:

in other news:
https://twitter.com/business/status/1781899273275064645

Iran, Russia, and China are what we call antagonists and right now we're in what's called an exposition phase. Do you follow?
Well the united protagonists need to resolve their differences before we get to what's called the climax, this is the period where news coverage is at its highest.

Then hopefully we can execute what's called falling action. This is actually one of the most lucrative periods of a conflict, lots of government contracts, lots of eyes on cable news. After successfully executing a lucrative falling action we can arrive at a resolution and declare that America is bad as a motherfucker.

Basically the strategy that won us the gulf war... the first gulf war.

# ? Apr 22, 2024 19:57

Beeftweeter: Jun 28, 2005; OFFICIAL #1 GNOME FAN

Internet Old One posted:

Iran, Russia, and China are what we call antagonists and right now we're in what's called an exposition phase. Do you follow?
Well the united protagonists need to resolve their differences before we get to what's called the climax, this is the period where news coverage is at its highest.

Then hopefully we can execute what's called falling action. This is actually one of the most lucrative periods of a conflict, lots of government contracts, lots of eyes on cable news. After successfully executing a lucrative falling action we can arrive at a resolution and declare that America is bad as a motherfucker.

Basically the strategy that won us the gulf war... the first gulf war.

lol it's 4th grade literature all over again!

# ? Apr 22, 2024 23:08

LieutenantFrost: Aug 9, 2009

Internet Old One posted:

Iran, Russia, and China

gently caress, kill, marry

# ? Apr 23, 2024 00:08

Roosevelt: Jul 18, 2009; I'm looking for the man who shot my paw.

LieutenantFrost posted:

gently caress, kill, marry

agreed

# ? Apr 23, 2024 00:14

Insanite: Aug 30, 2005

LieutenantFrost posted:

gently caress, kill, marry

objectively correct

# ? Apr 23, 2024 00:25

Beeftweeter: Jun 28, 2005; OFFICIAL #1 GNOME FAN

lol, this story is just bizarre. it's outsourcing all the way down

...to north korea!! https://www.cnn.com/2024/04/22/politics/us-animation-studio-sketches-korean-server/index.html

quote:

Sketches from US animation studios found on North Korean computer�server

North Korean illustrators and graphic designers appear to have helped produce work for US animation studios unbeknownst to those companies, suggesting that unreleased episodes of a few popular American cartoons could include work from one of the most closed-off economies in the world.

The revelation comes from a trove of documents recently discovered by US researchers inside a computer server housed in North Korea. It�s unclear how the files ended up in this tightly controlled portion of the internet, but the researchers who analyzed them told CNN they appear to be the result of work that was unknowingly outsourced to North Korean workers.

The US has imposed strict sanctions prohibiting American companies from doing business with the nuclear-armed regime.

In addition to drawings for an upcoming season of the Amazon Prime Video show �Invincible,� the files also contain sketches and videos that resemble work for �Iyanu: Child of Wonder,� a superhero series slated to air on Max, the streaming service that, along with CNN, is owned by Warner Bros. Discovery.

There is no evidence that the studios had any knowledge their proprietary work was on a North Korean server.

The files were discovered in December by Nick Roy, a Boston-based cyber-sleuth who regularly scans the North Korean internet as a hobby. Roy found a new North Korean website that outside visitors didn�t need a password to access, unlocking a trove of animation sketches, and shared them with the Stimson Center, a Washington-based think tank. 

The documents include a series of Chinese instructions that have been translated into Korean. They call for making adjustments to the size and style of the animation. Among the documents, there is also an editing sheet written in English with specifications for animation work with �Invincible� printed atop.

The discovery raises questions about the ability of US tech and creative arts companies to control their supply chains and avoid work that could inadvertently violate sanctions banning countries from doing business with North Korea.

They also offer a rare window into how graphic designers operate in one of the world�s most closed countries. A 2022 public advisory warning from the FBI and departments of State and Treasury mentions animation as one of many sectors where North Korean IT workers ply their trade. US officials are particularly concerned that North Korean workers are posing as other nationalities to get hired at US companies.

Logs from the North Korean computer server showed multiple visits from internet connections in northeast China, the US cybersecurity firm Mandiant told CNN. Both Roy and Michael Barnhart, a North Korea specialist at Mandiant, told CNN that those log files suggest workers in China may have been passing along instructions to their North Korean counterparts on the animation projects.

Other computers from within North Korea also appear to have been connecting to the computer server, Roy said, suggesting there were people accessing the animation files not only in China but also in North Korea.

In a statement to CNN, California-based Skybound Entertainment, which produces �Invincible� for Amazon, said it does not contract with Chinese or North Korean companies and has no knowledge of such companies working on �Invincible.� Skybound Entertainment said it would investigate the research that CNN presented.

�Our contracts specifically prohibit outsourcing to any third-party without our express prior written consent, and no such consent has been sought nor granted,� Skybound Entertainment spokesperson Hannah Cosgrove said. Skybound Entertainment is �taking this matter very seriously� and has �started an investigation to get to the bottom of this with third party counsel,� Cosgrove added.

Max declined to comment. Maryland-based YouNeek Studios, which co-created the �Iyanu� graphic novel series that the animated show is based on, did not respond to requests for comment. US-based Lion Forge Entertainment, which is producing the �Iyanu� animated show, declined to comment.

A source familiar with the matter told CNN that Lion Forge Entertainment contracted with a South Korea-based animation studio for the work. But late last year, the source said, Lion Forge discovered that the South Korean studio had further outsourced animation work for Iyanu to other South Korean companies without authorization. Lion Forge severed ties with the South Korean animation studio in January, the source said.

The South Korean studio told Lion Forge that it had outsourced the work only to South Korean companies, not any entity in North Korea, the source added.

After discovering the files, Roy shared them with his friend Martyn Williams, a North Korea expert and senior fellow at the Stimson Center, which analyzed the files. Williams and his colleagues concluded that they looked like part of a work order.

�It looks very much like this is all working-level editing files for these animations,� Williams said.

more in the link but that's most of it anyway

# ? Apr 23, 2024 00:45

Sagebrush: Feb 26, 2012

LieutenantFrost posted:

gently caress, kill, marry

this makes an odd sort of sense.

# ? Apr 23, 2024 00:48

PokeJoe: Aug 24, 2004; hail cgatan

I read a comic about a French dude doing stuff w n Korean animators years ago

https://www.amazon.com/Pyongyang-Journey-North-Guy-Delisle/dp/1897299214/ref=asc_df_1897299214/

# ? Apr 23, 2024 00:48

Beeftweeter: Jun 28, 2005; OFFICIAL #1 GNOME FAN

PokeJoe posted:

I read a comic about a French dude doing stuff w n Korean animators years ago

https://www.amazon.com/Pyongyang-Journey-North-Guy-Delisle/dp/1897299214/ref=asc_df_1897299214/

the french tend to not really care about american sanctions

# ? Apr 23, 2024 00:50

PokeJoe: Aug 24, 2004; hail cgatan

yeah I know. but I don't care about American sanctions either

# ? Apr 23, 2024 00:52

LieutenantFrost: Aug 9, 2009

Sagebrush posted:

this makes an odd sort of sense.

i may be a dumbass midwestern farm boy, but i get this feeling that the iranians know how to party

# ? Apr 23, 2024 01:39

Beeftweeter: Jun 28, 2005; OFFICIAL #1 GNOME FAN

idk all three party hard ime

# ? Apr 23, 2024 01:43

LieutenantFrost: Aug 9, 2009

Beeftweeter posted:

idk all three party hard ime

# ? Apr 23, 2024 01:47

FAT32 SHAMER: Aug 16, 2012

the entire planet parties harder than the U.S. lol

# ? Apr 23, 2024 02:16

well-read undead: Dec 13, 2022

even england?

# ? Apr 23, 2024 02:17

Adbot: ADBOT LOVES YOU

# ? May 3, 2024 06:43

The_Franz: Aug 8, 2003

Beeftweeter posted:

lol, this story is just bizarre. it's outsourcing all the way down

...to north korea!!

https://www.youtube.com/watch?v=F-ReoBPl4mM

(It had to be done)

# ? Apr 23, 2024 02:23

The Something Awful Forums > Discussion > Serious Hardware/Software Crap > YOSPOS > north american bummerverse containment zone 1.3: Kissinger Mourning Zone

«‹›2112 »