Mr Beans promotion opens a new vacancy for an internal member of the Banks Monetary Policy Committee, and Spencer Dale, a career economist at the Bank will take that position and become the new chief economist.
OT - Hundreds of people have been arrested in a sweep by law enforcement officials targeting crooked mortgage brokers, real estate agents, and other industry officials, Justice Department officials said Thursday.
Good riddance. Any ideas on what counterparties get squicked when they go tango uniform?
Remember that they got financing back in March to help them meet margin calls. Plus they hold a bunch of mortgage backed securities that presumably will get sold off at fire sale prices in a chapter 11 filing.
PPT will attempt to move heaven and earth to prevent the DOW closing below 12,000 when there is every reason in the world for it to do just that and then some...
"The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks.
"A very nasty period is soon to be upon us - be prepared," said Bob Janjuah, the bank's credit strategist."
""We see striking similarities between the transatlantic tensions that built up in the early 1990s and those that are accumulating again today. The outcome of the 1992 deadlock was a major currency crisis and a recession in Europe," said a report by Morgan Stanley's European experts."
I'm as big a fan of conspiracies as the next guy, but how can an entity manipulate something as big as indices on the equities markets? I know what can be done on individual stocks, especially ones with low volume (see FED and DSL from earlier this year), but whole markets? Just askin'.
Q: How do you manipulate a market, Mr. Wizard?
A: Leverage.
Q: What if it's a really, really big market?
A: More Leverage.
I bet Citi is glad it snaked some new cappytail before all the writedowns hit. Now they get to write down other people's money. The original stockholders were annoyed before by the terms of the investment, but they're happy to not be wiped out now.
Sumitomo cornered the worldwide copper market alone in the 90's. It's not hard if you've got a cheap source of money and a seat on an exchange.
RBS. RBS. RBS.
Any word on a divy cut?
Bean appointed Bank of England deputy chief
FT.com / World - Bean appointed Bank of England deputy chief
Mr Beans promotion opens a new vacancy for an internal member of the Banks Monetary Policy Committee, and Spencer Dale, a career economist at the Bank will take that position and become the new chief economist.
His views on monetary policy are not known.
That's Mister Bean to you.
Looks like TMA is going under today...lots of news today and the market is holding up. It must be "all priced in.."
Citi? Writedowns?
Hoocoodanowed?
Keep dem doggies rollin'...Rawhide!
Maybe Citigroup should change its name to Writedowngroup to better reflect its brand.
OT - Hundreds of people have been arrested in a sweep by law enforcement officials targeting crooked mortgage brokers, real estate agents, and other industry officials, Justice Department officials said Thursday.
Hundreds accused of mortgage fraud – The CNN Wire - CNN.com Blogs
thanxx
Lookout...PPT rescue underway.
Suspicious rallies aren't suspicious in Bizarro World.
Funny how good news is never 'priced in', but all the bad news even when unexpected is.
I don't know who's more incompetent ... the asshats who run this company, or the naive shareholders (aka bagholders) who were suckered.
Merideth Whitney 2, Citi 0
Citi 1, US taxpayer 0
India 1 USA 0
I just saw on CNBC a chartist draw a a-bomb(head and shoulders) on the DOW chart.. projection down to about 10K!
What do you think?
People from Miami indicted, gosh,
what a surprise.
How come nobody from California??
Looks like TMA is going under today
Good riddance. Any ideas on what counterparties get squicked when they go tango uniform?
Remember that they got financing back in March to help them meet margin calls. Plus they hold a bunch of mortgage backed securities that presumably will get sold off at fire sale prices in a chapter 11 filing.
BB, when I sold most of what shares I owned back last fall, I decided to buy back in when it went below 10,000.
How much below will depend on my mood and whim. I will expect it to sink more, but I can't call a bottom, so I will ignore it after I buy back in.
There is $.24 of value in TMA. Thats a pack of gum. I almost bought this dog at $20.00 as a value proposition.
Thank you Jesus.
Just give it all to Blackrock, the Feds favorite closet.
Hey, Citi, sell Primerica, that will raise some cash. And all you'll be losing are financial wanna-be's who don't know their ass from their elbow.
Fed's Bear Stearns Books Look Prime for Cooking.
Fed's Bear Stearns Books Look Prime for Cooking: Jonathan Weil - Bloomberg.com
And they want more power?????!!!
One FED to rule them all!
Anonymous writes:
Lookout...PPT rescue underway.
hey i'm not knowledgeable about technical market analysis but
just look at a graph of the major indices today...WOW, vertical lines up and down....no leveling off
looks like a big tug-o-war between the PPT and those that just want OUT.
PPT will attempt to move heaven and earth to prevent the DOW closing below 12,000 when there is every reason in the world for it to do just that and then some...
Hey India Banker,
Do you really know what's in your portfolio?
I doubt it. That score is subject to revision.
I can't wait for the 6/30/08 FDIC Call reports to be released. The numbers will be awesome (to the downside I'm sure).
BB writes:
I just saw on CNBC a chartist draw a a-bomb(head and shoulders) on the DOW chart.. projection down to about 10K!
What do you think?
when it gets to 8500 the screaming should stop...or 6K
"The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks.
"A very nasty period is soon to be upon us - be prepared," said Bob Janjuah, the bank's credit strategist."
Telegraph
""We see striking similarities between the transatlantic tensions that built up in the early 1990s and those that are accumulating again today. The outcome of the 1992 deadlock was a major currency crisis and a recession in Europe," said a report by Morgan Stanley's European experts."
-Telegraph
I'm as big a fan of conspiracies as the next guy, but how can an entity manipulate something as big as indices on the equities markets? I know what can be done on individual stocks, especially ones with low volume (see FED and DSL from earlier this year), but whole markets? Just askin'.
Q: How do you manipulate a market, Mr. Wizard?
A: Leverage.
Q: What if it's a really, really big market?
A: More Leverage.
I bet Citi is glad it snaked some new cappytail before all the writedowns hit. Now they get to write down other people's money. The original stockholders were annoyed before by the terms of the investment, but they're happy to not be wiped out now.
Sumitomo cornered the worldwide copper market alone in the 90's. It's not hard if you've got a cheap source of money and a seat on an exchange.