February 28, 2009


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Stock Costs Less Than Their ATM Fee

Iron rice bowl.

FEB 27: Last week, we warned that Citigroup and Bank of America would most likely be taken over by the US government within 60 days. Our prediction proved to be optimistic by 58 days, in Citi’s case.

Last Friday, amid growing “rumors” and in an effort to calm investor fears, the Dow Jones news reported :

A source familiar with the situation says Citi isn’t in “any unusual discussions with the government.”

The “calming” effect was short lived as two days later the news broke that Citi was indeed in talks with the US government in a deal which could result in a 40 per cent stake in the failing bank. Today, the deal was finalized and the US government will convert it’s preferred shares into common. Dilution of common shares are expected to be as high as 75 per cent.

Citigroup also announced a US$10 billion 4th quarter loss and the suspension of dividend payments on common and preferred shares. The market reacted to the news by reducing the value of Citigroup shares by 40 per cent as shares slid to a new all time low of US$1.50. The selling continued into after hours and  traded down to US$1.41. Citi shares have now dropped below their US$1.50 ATM fee.

The shareholders have essentially been wiped out.

In January 2008, $ingapore’s GIC invested US$6.88 billion in CitiGroup. It has now converted its preferred shares to common shares and realised what were previously paper losses. $ingaporeans have lost perhaps as much as US$5 BILLION.

While GIC’s ownership has increased from 5 per cent to 11 per cent, essentially the value of the shares has evaporated. It is clear that Citigroup are insolvent ie bankrupt.

The head of $ingapore’s Government Investment Corporation, Lee Kuan Yew, has not resigned.

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February 27, 2009


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Introducing… Days Of Future Past, our new column where we revisit classic interviews and articles that were published in BigO magazine. To kick off the column, here’s an interview with Patti Smith which appeared in BigO #117 (September 1995). To celebrate BigO’s 10th anniversary in 1995, BigO released its list of Top 100 Albums (1975-1995) and No. 1 was Patti Smith’s Horses. To commemorate the occasion, writer Gerrie Lim interviewed Patti.

Electric Lady Sound in New York; at 52 West 8th Street in once hippy-dippy Greenwich Village, is an unlikely location whose exterior resembles a bomb shelter and emanates perverse poetics. There’s a sign right outside, on the sidewalk, slung onto a lamp post, that actually decrees: “UNNECESSARY NOISE PROHIBITED.” An unused cinema lies next door, an optometrist next door to that, and a shoe store sits right opposite across the asphalt. It’s so surreally nondescript, right smack in the middle of a busy block throbbing with pedestrians, that if you blink you’ll easily miss it.

Click here for the article.


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We are now living in a world run by venal and corrupt bankers, protecting as their prime customers the monopolies, real estate speculators and hedge funds. Instead of industrial capitalism increasing capital formation we are seeing finance capitalism strip capital, and instead of the promised world of leisure we are being drawn into one of debt peonage. Economist Micheal Hudson explains.

How is it that Alan  Greenspan, free-market lobbyist for Wall Street, recently announced that he favored nationalization of America’s banks – and indeed, mainly the biggest and most powerful? Has the old disciple of Ayn Rand gone Red in the night? Surely not.

The answer is that the rhetoric of “free markets,” “nationalization” and even “socialism” (as in “socializing the losses”) has been turned into the language of deception to help the financial sector mobilize government power to support its own special privileges. Having undermined the economy at large, Wall Street’s public relations think tanks are now dismantling the language itself.

Click here for the article.

February 26, 2009


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Revolution Take… Your Knickers Off! (His Master´s Choice 006, 2CD]

More outtakes.

Just when you thought they had exhausted the vaults, out comes this two-CD bootleg which surfaced during the first week of February. This is also probably the most sought-after bootleg on the internet at the moment – with a copy being sold on eBay for US$265.

Thanks to semato1 for sharing the tracks on the internet.

However, a speed-corrected version of the 10-min-plus Revolution was offered by telecaster71 on the Dime site and it is this corrected version that is included here.

Disc 1
1 Revolution #1
2 Revolution
3 Across The Universe
4 Dear Prudence
5 Julia (Instrumental)
6 Julia
7 Julia
8 Step Inside Love
9 Step Inside Love
10 Step Inside Love
11 Step Inside Love (Take 1)
12 Step Inside Love (Take 2)
13 Step Inside Love (Take 3)
14 Step Inside Love (Take 4)
15 Step Inside Love (Chat)

Disc 2
1 Come and Get It (Take 1)
2 Come and Get It (Take 2, 3)
3 Come and Get It (Take 4)
4 Come and Get It (Take 5)
5 Come and Get It (Take 6)
6 Come and Get It (Take 7)
7 Come and Get It (Take eight)
8 Come and Get It (Take 9)
9 Come and Get It (Take 10)
10 Come and Get It (Take 11)
11 Come and Get It (Take 12)
12 Come and Get It (Take 13)
13 Come and Get It (Take 14)
14 Come and Get It (Take 15)
15 Come and Get It (Take 16)
16 Come and Get It (Take 17)
17 Come and Get It (Take 18)
18 Come and Get It (Take 19, 20)
19 Come and Get It (Take 21)
20 Come and Get It (Take 22-25)
21 Come and Get It (Take 26)
22 No Escaping Your Love (Take 1)
23 No Escaping Your Love (Take 2, 3)
24 No Escaping Your Love (Take 4)
25 No Escaping Your Love (Take 5)
26 No Escaping Your Love (Take 6)
27 No Escaping Your Love (Take 7)
28 No Escaping Your Love (Take eight)
29 No Escaping Your Love (Take 9)
30 No Escaping Your Love (Take 10)
31 No Escaping Your Love (Take 11)

Click here for the tracks.

February 24, 2009


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The Malaysian Federal Court has reserved its judgment on a bid by Malaysia Today editor Raja Petra Kamarudin to seek a review of an application relating to his release from detention without trial.

Raja Petra had challenged last Tuesday’s Federal Court decision in refusing to recuse Federal Court Justice Augustine Paul from hearing the Home Minister’s appeal against his release from detention under the Internal Security Act (ISA).

Judgment will be delivered at a future date. RPK is  free – for now.

Visit Malaysia Today for updates.


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First Night In Tokyo 2009 [no label, 2CD]

Live at the Budokan, Tokyo, Japan, February 15, 2009. Very good audience recording.

There are fans who feel that the Tokyo Budokan is a second home for Clapton as he practically makes an annual pilgrimage there. Even then there must have been a sense of deja vu when Clapton started the show with Tell The Truth and Key To The Highway – the two songs he started the Japan tour in 2006. But when he shredded Hoochie Coochie Man into pieces and continued with I Shot The Sheriff, fans realised they were in very good hands and in for a bluesy rather than rocking treat.

Thanks to Masahiko Yamaura for sharing this recording on the Dime site and to kream1 for the artwork.

Disc 1
Track 101. Tell The Truth
Track 102. Key To The Highway
Track 103. Hoochie Coochie Man
Track 104. I Shot The Sheriff
Track 105. Isn’t It A Pity
Track 106. Why Does Love Got To Be So Sad
Track 107. Driftin’
Track 108. Travelin Alone
Track 109. That’s Alright
Track 110. Motherless Child
Track 111. Running On Faith

Disc 2
Track 201. Motherless Children
Track 202. Little Queen Of Spades
Track 203. Before You Accuse Me
Track 204. Wonderful Tonight
Track 205. Layla
Track 206. Cocaine
Track 207. Crowd Calling For Encore
Track 208. Crossroads

Click here for the tracks.


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A father abuses, molests and rapes his daughter at home. Shouldn’t the mother equally be blamed? That’s the theme in Strange Circus, a film by Sion Sono who previously tackled cult suicide in Suicide Circle. Stephen Tan reviews.

In Bob Fosse’s All That Jazz, death appeared in the form of a lusty Jessica Lange and a cabaret act. Sion Sono has embellished death’s cabaret act in Strange Circus (2005) into a grand guignol nightclub with pendulum-shaped swings with the grand finale involving a guillotine. A show begins and the host, a large frame woman called Black Shadow (also known as Sad Song), invites young Mitsuko on stage and asks her: “Are you afraid to die?” Cut to a circus lot with only the ferris wheel going round. In a voiceover, Mitsuko says: “I was sentenced to death at birth.”

Click here for the article.

February 23, 2009


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New Jersey 1988 [Scorpio, 1CD]

Live at the Garden State Performing Arts Center, Holmdel, New Jersey, June 24, 1988. Very good soundboard.

This is what wrote:

“Here is yet another powerhouse performance from the early stages of the Never Ending Tour. This performance was chosen not only for its fantastic sound quality, but also for the fact that there are seven songs on this show that weren’t performed the week before as documented on the sister disc release by Scorpio. Perhaps, best of all, the entire 75-minute concert is captured in its entirety on one disc! It’s been a while since that happened! This is another great (and affordable) release to add to the collection.”

Thanks to Lincoln Park Mark for sharing these tracks.

Track 01. Subterranean Homesick Blues
Track 02. It’s All Over Now, Baby Blue
Track 03. Masters Of War
Track 04. Simple Twist Of Fate
Track 05. Driftin’ Too Far From Shore
Track 06. You’re A Big Girl Now
Track 07. Lakes Of Pontchartrain (trad)
Track 08. Boots Of Spanish Leather
Track 09. Hard Rain
Track 10. Silvio (Dylan & Robert Hunter)
Track 11. I Shall Be Released
Track 12. Like A Rolling Stone
Track 13. The Times They Are A-Changin’
Track 14. Maggie’s Farm

Click here for the tracks.

February 21, 2009


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Author: bigozine3
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Revolution Take 20 [His Master’s Choice]

This is the newly-surfaced 11-minute stereo version of Revolution.

This track (presumably not speed corrected) is taken from Revolution… Take Your Knickers Off, a two-CD set from His Master’s Choice, which has just been released.

Thanks to telecaster71 for sharing the speed-corrected track on the Dime site.

Click here for the track.


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Author: bigozine3
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Denver 1988 [Scorpio, 2CD]

Live at Fiddler’s Green Amphitheatre, Denver, Colorado, June 15, 1988. Very good soundboard.

According to, “This is a perfect quality soundboard recording… this show boasts the first performance in over a decade of Mama, You Been On My Mind and One More Cup Of Coffee and the first ever performance of Eileen Aroon. Everyone knows of the Never Ending Tour… well, this is how it all got started. A week before, the show had premiered in California. This is the sixth performance of the new show with new songs and an all new band that includes SNL guitarist GE Smith. All fans of 1988 should own this one.”

Thanks to Lincoln Park Mark for sharing these tracks.

Disc 1
Track 101. Subterranean Homesick Blues
Track 102. One More Cup Of Coffee (Valley Below)
Track 103. It’s All Over Now, Baby Blue
Track 104. Stuck Inside Of Mobile With The Memphis Blues Again
Track 105. You’re A Big Girl Now
Track 106. Ballad Of A Thin Man
Track 107. Mama, You Been On My Mind
Track 108. Eileen Aroon
Track 109. Don’t Think Twice, It’s All Right

Disc 2
Track 201. Just Like A Woman
Track 202. Seeing The Real You At Last
Track 203. Simple Twist Of Fate
Track 204. Like A Rolling Stone
Track 205. A Hard Rain’s A-Gonna Fall
Track 206. Maggie’s Farm
Track 207. Crowd

Click here for the tracks.

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