Comments for 0 at http://boombustblog.com , comment 1 to 18 out of 18 comments http://boombustblog.com Tue, 02 Dec 2008 09:54:48 +0100 FeedCreator 1.7.2 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1728 Being selective is mandatory advice, regardless of whether you are on the short side or the long side. Blindly throwing darts will only hit the target 1.65% of the time. ;D - Reggie Middleton Sat, 05 Jul 2008 09:50:35 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1727 BALZAC said you sometimes can't tell the difference between a bearish hoax and bearish news. I agree, and that highlights the sad state of affairs for our markets. However, I think all bears should work hard on security selection instead of being uniformly bearish. It preserves capital and enhances returns, in my opinion. Imagine if you said, "I'm going to short ALL banks in the S&P 500." Then you'd be shorting banks like HCBK (up 39% in last year) as well as the usual suspects (C, WB, WM). Similarly, if you said, "I'm going to bet on default for ALL automakers," then you'd be happily short credit on F and GM, but also wasting your capital on AAA-rated Toyota Motor. This type of perspective is what makes me feel lucky to be part of this online community, because we try to be discerning and skeptical -- posters and commenters alike. - Shawn McFarlane Sat, 05 Jul 2008 09:47:38 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1723 http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_weil&sid=aYbKSTZ5ZYpM ...So what does Lehman do? It sells billions of dollars of assets to a newly formed hedge fund that: 1) counts Lehman as a significant investor; 2) is run by seven recently departed Lehman executives; 3) is operating out of Lehman's office space, three floors down from the office of Lehman's corporate secretary. You don't need to know much more about Lehman's transactions with the fund, R3 Capital Partners, to see the problem...... - ralph allen Fri, 04 Jul 2008 10:53:44 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1722 What exactly do you mean by "ass crack". - Robert Fri, 04 Jul 2008 06:48:44 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1706 Hi, There is a new post by Mr.Mortgage Guide to Truth About lehman creating a new company and trasfering assets to it. Thanks Anil - Anil Goyal Thu, 03 Jul 2008 15:47:17 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1703 You see. Hoaxes from the Labor Department always work with the suckers. Rates go up in Europe. The Euro goes down ? And the US dollar goes up because tha stalinist Labor Department reports not so bad numbers. #@#$%$%? LIARS ! Minus 62,000 jobs. Damn psychopath liars. It,s in reality -177,000. But it has its importance. It allows to boost and "pump and dump" in stages. Gold falls as U.S. dollar rises after jobs data By Polya Lesova, MarketWatch Last update: 9:46 a.m. EDT July 3, 2008Comments: 2NEW YORK (MarketWatch) -- Gold futures fell more than 1% Thursday, as the U.S. dollar rose against other currencies after the Labor Department reported that the U.S. economy shed 62,000 jobs in June. Gold for August delivery fell $15.20 to $931.30 an ounce on the New York Mercantile Exchange. Weighing on gold prices was a surge in the U.S. dollar following the jobs data. The dollar index (DXY:US Dollar Index Future - Spot Price News, chart, profile, more Last: 72.50+0.47+0.66% "The jobs number for the month of June was bad but not bad enough to stifle the gains in the U.S. dollar," said Kathy Lien, chief strategist of DailyFX.com, in a note. "Anything short of 100,000 would have been dollar positive and that is exactly how the market reacted today," Lien said. The Labor Department reported Thursday that the U.S. economy shed 62,000 jobs in June while the unemployment rate unexpectedly remained at a four-year high of 5.5%. Payrolls have now fallen in all six months this year for a total job loss of 438,000, the strongest evidence that the economy fell into a recession in the first half of the year. Job losses in June were worse than the 40,000 expected by economists surveyed by MarketWatch. The unemployment rate was expected to fall to 5.4%. See Economic Report. Separately, European Central Bank President Jean-Claude Trichet said medium-term inflation risks have increased and said the central bank is paying "particular attention" to wage negotiations. "The ECB statement was not as hawkish as some had expected, thus they sold euro and bought dollars," said Jon Nadler, senior analyst at Kitco Bullion Dealers. "At the end of the day, after a nice run, many [gold traders] were compelled to take profits," Nadler said. "That is what the game is generally all about." Trichet, delivering a prepared statement following the ECB governing council's widely-anticipated decision to hike its key interest rate by 25 basis points to 4.25%, warned that the ECB remained focused on ensuring that surging, near-term inflation pressures don't become entrenched through "second-round effects." Trichet said economic risks remained weighted to the downside and that the outlook remained highly uncertain, but that fundamentals remain sound. ALL LIES AND ALL HOAXES. - Marc Authier Thu, 03 Jul 2008 10:09:28 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1701 Well it was a good one. :D Is the possible bankruptcy of GM, Ford and Chrystler a hoax to ? ;D The Labor Department employment data is a hoax too. See what I mean ? Sometimes you cannot make the difference. http://globaleconomicanalysis.blogspot.com/ - Marc Authier Thu, 03 Jul 2008 09:41:47 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1696 My be we should have blog on how to best prepare and thrive the collapse of the US financial markets, crashing dollar and stock market. - james jimenez Wed, 02 Jul 2008 23:23:17 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1692 I believe that Mr Paulson is more interested in being able to move the goal posts, that is change the definition of insolvency. This would allow his cronies to sidestep those (really) annoying capital requirements. The existing levels are really starting to harsh Wall Street's mellow. - Brian Kneeshaw Wed, 02 Jul 2008 20:51:23 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1688 He said banks in the United States and the UK have raised capital equal to 95 and 96 percent of their recognized credit losses, respectively, but in continental Europe, institutions have covered only 56 percent of recognized losses with new capital so far. Reggie, I bet you never thought you and Paulson would agree :D - Jarret Pazahanick Wed, 02 Jul 2008 15:43:47 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1687 [i]Paulson is a damn liar.[/i] Paulson is just following orders. Talk is cheap and tough talk is all the Fed has left. Bernanke has said it is his goal to contain inflation perceptions. Not inflation, just the perception of inflation. Same for the bank rescues. - Robert Cote Wed, 02 Jul 2008 14:22:45 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1685 The best thing that could be done at this time is to make the top brass at each institution be liable for losses--make them get out of the public market and go back to partnerships--that would make risk important again-that alone would do it without a lot more regulation which punish this good along with the bad - Don Peters Wed, 02 Jul 2008 11:29:03 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1684 YOU ARE NOT ALONE. Now this is an extreme move for a bank. Fortis Bank Predicts Meltdown Of U.S. Financial Markets In Coming WeeksSearch Enter your search terms Web ML Submit search form 2008-07-01 — google.com "Fortis expects a complete collapse of the US financial markets within a few days to weeks. That explains, according to Fortis, the series of interventions of last Thursday to retrieve € 8 billion. “We have been saved just in time. The situation in the US is much worse than we thought”, says Fortis chairman Maurice Lippens. Fortis expects bankruptcies amongst 6000 American banks which have a small coverage currently. But also Citigroup, General Motors, there is starting a complete meltdown in the US” - Marc Authier Wed, 02 Jul 2008 11:16:22 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1683 Barclays Bank is a good candidate in the UK with its 30 trillion of derivatives on the books. UBS says that they do not need more capital. I don't believe them. - Marc Authier Wed, 02 Jul 2008 10:46:16 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1682 Paulson is damn liar. I don't believe anything that comes out of Washington. I do not believe specially somebody that was a vice president and major shareholder of Goldman Sachs. And if Goldman Sachs was in deep shit, would the US government let them fail ? I don't believe in politicians specially those coming from Goldman Sachs. Arms of mass destruction in Irak and no "too big to fail" policy. BULLSHIT ! - Marc Authier Wed, 02 Jul 2008 10:41:39 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1681 Reggie, see private e-mail - Chris Marshall Wed, 02 Jul 2008 10:27:56 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1679 Paulson said yesterday 'the perception should be avoided that an institution is "too interconnected to fail or too big to fail" and added that "we must improve the tools at our disposal for facilitating the orderly failure of a large, complex, financial institution."' /Cn I have WaMu in the dead pool? I know it is silly non-scientific but in Seattle last week on a harbor tour it was noted that the WaMu tower was voted the 3rd most beautiful skyscraper in America. The edifice complex is powerful. - Robert Cote Wed, 02 Jul 2008 09:33:21 +0100 http://boombustblog.com/index.php?option=com_myblog&show=Imminent-Large-Bank-Failure-in-the-US-and-Eurozone-Markets.html&Itemid=92#comment-1678 Levitt was on Bloomberg this morning talking about the signal from the Fed that they would allow banks to fail. His focus was on avoiding the moral hazard of banks operating under that assumption you talked about that they are too big to fail. I found it interesting that he specifically said he didn't think Lehman would fail and that if they did (since back when Bear Stearns fell, they were seen as the next likely target) the Fed would likely not bail them out. Sounds like they are preparing the public for something soon. - Shawn Cornell Wed, 02 Jul 2008 08:10:18 +0100