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"I wanted your sugar lips on my cock all day, Jimmy," [a woman playing Sal] Mineo says before shoving her dildo in the sex doll's mouth. "You are my girl, Jimmy. You feel as sweet as ice cream." She unbuttons the sex doll's pants and flips it over. "Your ass is so ready, Jimmy. Let me put it in your rebel ass." She spits on her dildo cock and stuffs it in James Dean's inflatable butthole.

[...]

I look around. Everyone is making out with dolls, riding them, switching positions. "My girl loves it on her face, doesn't she, Jimmy?" huffs Mineo before squirting the James Dean doll with cum-lotion. We spray the sex dolls with two cans of condensed milk. It's a real cumfest.

Franco, who is in the middle of the action, begins to record himself on an iPhone, repeating, "I'm a rebel, I'm a rebel, I'm a rebel, I'm a rebel…" His eyes are closed. There is no irony in his voice.

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POS:
The instamatic focal point bringing damage to your boroughs
Be some brothers from the east with some beats that be thorough
Got the solar gravitation so I'm bound to pull it
I gets down like brothers are found ducking from bullets
Gun control means using both hands in my land
Where it's all about the cautious livin'
Migrating to a higher form of consequence compliments
Of strugglin' that shouldn't be notable,
Man every word I say should be a hip hop quotable.
DOVE:
I'm sick of bitches shakin' asses
I'm sick of talkin' about blunts,
Sick of Versace glasses,
Sick of slang,
Sick of half-ass awards shows,
Sick of name brand clothes.
Sick of R&B bitches over bullshit tracks,
Cocaine and crack
Which brings sickness to blacks,
Sick of swoll' head rappers
With their sicker-than raps
Clappers and gats
Makin' the whole sick world collapse
The facts are gettin' sick
Even sicker perhaps
Stickabush to make a bundle to escape this synapse
POS:
Man life can get all up in your ass baby you betta work it out
Let me tell you what it's all about
A skin not considered equal
A meteor has more right than my people
Who be wastin' time screaming who they've hated
That's why the Native Tongues have officially been re-instated
(Vibes....vibrations)
Stakes is high
(Higher than high)
You know them stakes is high
(Higher than high)
When we talkin' 'bout the
(Vibes....vibrations)
Stakes is high, you know them stakes is high
When we dealin' with the
(Vibes....vibrations)
Stakes is high
(Hey yo, what about that love?)
POS:
Yo, it's about love for cars, love for funds
Loving to love mad sex, loving to love guns
Love for opposite, love for fame and wealth
Love for the fact of no longer loving yourself, kid
We living in them days of the man-made ways
Where every aspect is vivid,
these brothers no longer talk shit
Hey yo, these niggas live it
'Bout to give it to you 24/7 on the microphone
Plug One translating the zone
No offense to a player, but yo, I don't play
And if you take offense, fuck it, got to be that way
J.D. Dove, show your love, what you got to say?
DOVE:
I say G's are making figures at a high regard
And niggas dying for it nowadays ain't odd
Investing in fantasies and not God
Welcome to reality, see times is hard
People try to snatch the credit, but can't claim the card
Showing out in videos, saying they cold stars
See, shit like that will make your mama cry
Better watch the way you spend it
'Cause the stakes is high
Y'all know them stakes is high
When we talkin' 'bout the
(Vibes....vibrations)
Stakes is high
I think that smiling in public is against the law
'Cause love don't get you through life no more
It's who you know and "How you, son?"
And how you gettin' in, and who the man holding
Hey yo, and how was the scams and how high
Yo what up, huh? I heard you caught a body
Seem like every man and woman shared a life with John Gotti
POS:
But they ain't organized!
DOVE:
Mixing crimes with life enzymes
Taking the big scout route
And niggas know doubt better
Than they know their daughters
And their sons
(Oh boy)
POS:
Yo, people go through pain and still don't gain
Positive contact just like my main man
Who got others cleaning up his physical influence
His mind got congested
He got the nine and blew it
Neighborhoods are now hoods cause nobody's neighbors
Just animals surviving with that animal behavior
Under I who be rhyming from dark to light sky
Experiments when needles and skin connect
No wonder where we live is called the projects
When them stakes is high you damn sure try to do
Anything to get the piece of the pie
Electrify
Even die for the cash
But at last I be out even though you wantin' more
This issue is closed like an elevator door
But soon re-opened once we get to the next floor where the
(Vibes....vibrations)
Stakes is high
Y'all know them stakes is high
When we talkin' 'bout the
(Vibes....vibrations)
Stakes is high
Stakes is high, come on

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CHESAPEAKE, Va. (AP) — A man armed with a machete and a can of gasoline was taken into custody after he showed up at a Chesapeake medical center demanding test results.

Chesapeake Regional Medical Center spokeswoman Sarah Arnold told media outlets the unidentified man arrived at the Diagnostic Center of Chesapeake before 9 a.m. Friday. Staff and visitors at the center subdued the man until hospital security and police arrived.

The man has not been identified.

No one was injured.

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The Mark-to-Market Fantasy

Banks on the Brink

by ANDREW COCKBURN

“If the Occupiers start chanting ‘Mark to Market,’” an attorney highly conversant with the darker workings of the Wall Street-Washington complex told me, “we’ll know they’re serious.” Such a call would quickly presage the collapse of our “too big to fail” banks, for it would highlight the fact that a huge proportion of the assets of Bank of America, Wells Fargo, JP Morgan, and Citigroup consist of loans that will never be paid back and are therefore essentially worthless. The so called “recovery” of our leading financial institutions from the post-Lehman abyss has depended on a fraudulent valuation of these assets, but stripped of the fiction, the banks are insolvent.

Not long ago, accounting rules required bank assets, such as mortgage, credit card and other loans, not to mention the securities derived therefrom, to be “marked to market,” meaning that they had to be valued on the balance sheet at what they might fetch if offered for sale on the open market. This practice, enjoined by the Financial Accountancy Standards Board (FASB), was quite popular at a time when the bubble was still inflating, propelling house prices and the mortgage backed securities they supported in a pleasingly northward direction, and naturally carrying quarterly bonuses and other good things along with them. However, such attitudes changed in a hurry once the housing bubble burst and the ratings agencies, albeit belatedly and reluctantly, began certifying that mortgage loans, as packaged and puréed into securitized instruments, were worth a lot less, or nothing at all. In 2008 therefore the banks were forced to disclose write-downs of $175 billion. By early 2009 not only were most of these institutions facing capital shortfalls that rendered them insolvent, they were close to having to admit the fact and head for the bankruptcy court.

Cries of rage and pain echoing round Wall Street were amplified in Washington DC by $27.5 million in bankers’ cash, funneled through lobbyists who focused their particular and generous attention on the capital markets subcommittee of the House Financial Services Committee. The consequences were immediate and gratifying, at least from the point of view of the banks. Hapless number crunchers from the FASB were hauled in front of the subcommittee on March 12, 2009, and harshly instructed to change their rule, fast, or the congress would do it for them. Results were immediate. Instead of having to price their assets at a realistic level, ie one where someone might buy them, banks were permitted to use “substantial discretion” in their book-keeping. “Mark to fantasy,” some called it, but suddenly Wall Street was booming again, along with bonuses. Notional profits were further bolstered by shrinking “loan loss reserves” – money put aside against a rainy day – on the balance sheets. Since all those assets were at healthy valuations again, who needed to provide for losses?

But of course the underlying reality never changed, except for the worse. Loans defaults continued their inexorable climb. Desperate to hoard whatever actual cash they did have, largely courtesy of Fed largesse, the banks eschewed anything as risky as actually lending money to businesses who might use it to give jobs to people. No one, at least in government or on Wall Street, was prepared to admit the ongoing reality of major bank insolvency.

As one clear-eyed observer of Wall Street told me earlier this week: “Bank of America earnings were out today and you need an advanced degree in bullshit to understand half of it. The whole thing is malarkey piled on crap. I don’t know how to separate the garbage from the decent and neither do (the banks). It’s the main thing that’s stopping any bank recovery, the denial and the inability or unwillingness to take their medicine.”

However, there is a way out of the morass. Congress did pass the 2010 Dodd-Frank financial reform bill. Though assiduously laced with loopholes and escape hatches, the law does contain one crucial element that would, if implemented, allow the seizure of the banks and the loans they control. That’s the part of the 2010 financial reform act that gives the FDIC the necessary authority “to liquidate failing financial companies that pose a significant risk to the financial stability of the United States in a manner that mitigates such risk and minimizes moral hazard.” It goes on to mandate that “creditors and shareholders will bear the losses of the financial company,” while management should not only be fired but also held personally liable (“bear losses consistent with their responsibility”) for the wreckage they have caused. God knows how this got past the lobbyists, but it’s on the books. Let’s use it, dismantle JP Morgan, Wells, etc. At that point the Federal Deposit Insurance Corporation would actually own all those loans that homeowners and other borrowers have been struggling to repay. The banks have been obstructing any reduction of principal by allowing subprime borrowers to refinance at affordable rates. But a government takeover, which is entirely in the administration’s power, would permit just that. As a result, homeowners etc would be able to afford their payments, with cash to spare.

Too bad it won’t happen.

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