1997 was a very good year...

jd
what his rock got foreclosed on,wow thats terrible.

burnside
its hard to get traction when you are on ice.

Financial soothsayers on the boob tube are a most predictable bunch, no?

FED is doing it all wrong. They should give money to pimps and drug dealers at street level, not banksters. Banksters just hide the cash into some Not-So-Virgin Island or unspecified 3rd world banana republic.

well yeah, the find them in the seat of their pants. Mark 2 fantasy.

I find all this so amusing. This has been argued about since the passage of that wonderful CFMA which opened the floodgates. So when are our very bright and oh so insightful congresscritters going stop sitting on their hands?....rhetorical question. That little 10 year experiment clearly has proven itself a destructive force not only in our economy but worldwide. IDIOTS.

U.S. Should Regulate Dealers, CFTC’s Gensler Says (Update1) - Bloomberg.com

Congressional Action

Congress has proposed new rules on derivatives as part of an overhaul of the financial system after the worst recession since the Great Depression led federal government to spend, lend or commit as much as $12.8 trillion to shore up the U.S. economy.

Gensler is seeking additional authority from Congress to curb speculation in off-exchange commodity contracts so that traders can’t use OTC transactions to sidestep limits meant to keep one trader from gaining too much control of the market.

House legislation passed in December requires that standardized contracts be processed by clearinghouses and executed on regulated exchanges or swap execution systems. Clearinghouses impose capital and margin requirements for trading.

Commodity-based businesses such as manufacturers, airlines and energy producers that use derivatives would be exempt from the clearinghouse requirement if they can show they are using the contracts to hedge operational risk. The transactions would have to be reported to regulators.

As Mr Bill from Pimco said, "we're going to miss that money".

gabyjan wrote:

its hard to get traction when you are on ice.

gaby, I'm actually quite serious. We don't talk about it much here, but turnarounds are at least as much the product of countless individual choices as they are a matter of policy or programs. People, when they must be, are resourceful and determined. I watch, primarily, for indications of how they are doing - it's an important 'tell'.

Nanoo-Nanoo wrote:

House legislation passed in December requires that standardized contracts be processed by clearinghouses and executed on regulated exchanges or swap execution systems.

. . . except that they excuse custom contracts from the obligation which, you must know, drives the world of derivatives strongly in the direction of customization. Sounds good on first reading - but they have their loophole. It's just optics.

A reader chastised me for not being more explicit about the Geithner proposal’s loopholes. Just to be clear about choice number two, the regulation-heavy one, just because I am labeling the Geithner approach regulation-heavy doesn’t mean I think these regulations will be substantive. They will add a layer of regulation to seem substantive but will be filled with loopholes in order to allow business as usual. An example is the loophole in derivative regulation that allows for off-exchange customized derivatives. Everyone knows that means actors will gravitate to just those products.

Wasn't Insana involved in a hedge fund?

burnside wrote:

People, when they must be, are resourceful and determined. I watch, primarily, for indications of how they are doing - it's an important 'tell'.

Watching the people I know for any indication of a turn around - it isn't happening here.
No job vs part time job.
Lots of moving down in the housing choices.
Using cash instead of credit or debit. Some are going back to cash in the wallet type of budgeting. Putting themselves on an allowance rather than spend now and pay later.

I'm in a big bubble state. YMMV

YUP! Thats why that door needs to be shut and bolted. Not gonna happen though, I have no illusions about that.

When 305 million people all go ice skating on a frozen pond of undetermined thickness at the same time, you just know how it's gonna turn out.

josap wrote:

Watching the people I know for any indication of a turn around - it isn't happening here.

josap, what you describe is it, happening.

burnside wrote:

• but they have their loophole. It's just optics.

As long as the is fat and happy llife is good. Right?

/snark off

Juvenal Delinquent wrote:

When 305 million people all go ice skating on a frozen pond of undetermined thickness at the same time, you just know how it's gonna turn out.

If you should go skating
On the thin ice of modern life
Dragging behind you the silent reproach
Of a million tear-stained eyes
Don't be surprised when a crack in the ice
Appears under your feet
You slip out of your depth and out of your mind
With your fear flowing out behind you
as you claw the thin ice

YouTube - (2)THE WALL: Pink Floyd-The Thin Ice

reality tv--Maybe CNBC would like to hire CR and a few regular posters to do a reality tv show. Same stuff done on this site in real time in front of the camera--or, if CNBC says no, try Comedy Central.

Just read that FEMA is running an emergency alert system test state wide in Alaska today. Scheduled back in September. Trying to wrap my head around this one...exactly what are we modeling here?

vonbek777
just your normal test, nothing to worry about, blah blah

Deleted

dum luk
they must like that big box idea of target,now we have a big distribution center here that they could open for us since we do not have a target.

Interesting new synthetic financial product you've dreamed up. Do you want it regulated like a stock or bond or as insurance? Those are your only choices. There. I fixed the entire derivatives, CDS, etc. problem.

As to purchase apps; in a week, even month of fairly good news, decreases while expected are very bad. Higher rates, tighter standards, consumer exhaustion all combine to indicate another leg down, This is particularly bad for the banks as it implies an inability to clean up there loan portfolios long term.

hey i have a question

what would have happen if the fed rates were like maybe 5 instead of the low rates they had,would it have made a difference?

Not worried about it, just find it curious. If this is just a test of the emergency broadcast system on radio and tv...why bother...what are you going to tell people...please remain calm, stay inside, stay warm.... January in Alaska for god sakes...Fairbanks is a balmy 7 degrees right now. I guess a test in the Anchorage area makes sense...more moderate climate. Just seems a weird time to test. 700,000 people, mostly nestled around Anchorage and Fairbanks. Lord more people around here in a 50 mile radius. Gives one pause and perspective.

BRRRRRRRRRRR I thought I lived in Florida but somehow or other I ended up in a State that goes sub freezing..Water line froze the night before last, woke up to no water. Spent last evening after work wrapping water lines with insulation. Still had one hose outlet slightly frozen this morning even with pipe wrap and letting it trickle all night...Did I mention BRRRR?

Mel wrote:

Maybe CNBC would like to hire CR and a few regular posters to do a reality tv show.

great idea!

I still have my strappy triple cupped expando slingshot sort of thingie

I'm in!

Dawg -

I still don't believe any committee or deliberative body, let alone the public, sees OBS derivatives for the hounds of Hell they are.

Like the fix - simple and elegant.

vonbeck

Emergency test alert to be broadcast in morning: Anchorage | adn.com

MS wrote:

Treasury Flooded Consumers With Money In December

Did I miss my check in the mail?
What money to consumers?

Giving your money to Capitol One for 5 years, in exchange for a 3.25% CD, is what my advert is asking of me.

Kristina, my parents house is under construction...adding a great room...anyway...work is behind schedule. They spent the last couple of cold nights on the boat, trying to make the heater work. You guys definitely had some winter chill. We're supposed to get down to the low teens next couple of nights. I am wrapping pipes too.

Not sure if anyone has seen this video, but whoa - its a good one!!!!
I see buyers remorse in the obamabots - welcome to what the other half of America warned you about - better late than never I say, welcome aboard.
~~
America Rising Video: An Open Letter to Democrats

America Rising Video: An Open Letter to Democrats « HillBuzz

burnside wrote:

I still don't believe any committee or deliberative body, let alone the public, sees OBS derivatives for the hounds of Hell they are.
Like the fix - simple and elegant.

Thanks. That's the beauty. The public can easily understand that a financial product is either a stock, bond or insurance. If we can convince them that those are the only acceptable investment vehicles then all the exotic paper will be forced to conform to insurance regulation or be exposed as the gambling they are.

Ask me about fixing HFT and churn and float and naked shorting.

Anchorage is coastal, more moderate. Fairbanks is having a breather, back to -20 below by Friday.

Lefty,

New Year's day 1982 (I think it was), Anchorage was far warmer than Pass-a-Grille Beach. It happens. Japan current, the Gulf Stream of the Pacific.

I had a log cabin on my tree farm in TN and when I used it in winter before leaving I'd always drain the pipes and water heater, winterize it so to speak... even a small freeze is hell on PVC piping...

Rob Dawg wrote:

Ask me about fixing HFT and churn and float and naked shorting.

I will. Some late night.

Pretty sure it was a typo gabyjan, he probably meant OTC?

gaby-

Nor do I....it certainly appears that a very large chunk of money reported as "given to consumers" has vanished. I'd postulate that it was taken out and given to someone or entity to buy the short end....but that would be just an opinion.

Ciao
MS

we just got to 32 degrees. wow
kristina not a trickle a bit more.

CK,
In an enclosed space like pool filter room a 100-150w regular light bulb will be as effective. This is the part where CR & I stay real quiet about the weather. Monday we both had the highest temps in the nation at 79.

Former US Comptroller David Walker preaching sense on CNBC this morning, 6 minute video.

Fund My Mutual Fund: David Walker CNBC January 2010 Video

Certainly we can expect him to be ignored for 14th year in a row.

I'll go a few degrees higher....82d in the backyard yesterday.

Ciao
MS

That's what I've been using Dawg but I was afraid with an even colder blast it might not suffice. We hit 26 the last two nights but are getting a reprieve tonight and tomorrow night. Only in the low 30's for those nights. I know Cali is about the only warm place right now. One of my patrons is heading out there for the big game tomorrow night and I"m jealous. Who woulda thought he'd have to leave Florida to get warm in Cali?

Can't remember which Almanac...but it predicted bitterly cold temps for entire US except south Florida and west coast. But west coast would be parched. No rain for most of winter. Seems pretty accurate so far.

Vonbek777 wrote:

Can't remember which Almanac...but it predicted bitterly cold temps for entire US except south Florida and west coast. But west coast would be parched. No rain for most of winter. Seems pretty accurate so far.

Except the west coast is on track for a normal precip year and snowpack. More on Tues/Wed. The dirty secret is even 60% of normal is enough to muddle through with minor conservation efforts.

Comrade Scott wrote:

So do crazy people.

Yes, but no one likes to hear the lunatics are running the asylum.

gabyjan wrote:

please tell me what is obs, i googled and that dont make any sense

Did gyn pop up

burnside
oh thank you and theres a lot of that obc going isnt there,maybe it is all parked over at second life is that still doing,i know first and last time i went there aig had an alter,i think they were suing someone.

"nobody told me these fools don't insulate the indoor water lines either!"

Insulating them probably would not help. Insulation does not generate warmth, it just slows the rate of transfer so, unless you have a heat source inside that insulation (like a bit of flowing water) they'd still eventually freeze.