Short sales are a failure of market and subsequent failure of regulation. They are a sign of deteriorating conditions.

Fed raises discount rate to 0.75%, wants banks to borrow from the private market

starts tomorrow

creditcriminalslovetarp wrote:

Fed raises discount rate to 0.75%, wants banks to borrow from the private market

linky?

WASHINGTON (MarketWatch) -- The Federal Reserve announced late Thursday that it was raising its discount rate in order to push banks to borrow from the private market for short-term credit. In a statement, the Fed said it would raise its discount, or primary credit rate, to 0.75% from 0.50% effective on Friday. Fed chairman Ben Bernanke signaled last week that the Fed was mulling the move. Fed watchers had expected the move to come at the next Fed meeting in March. Today's action shows a sense of urgency on the part of the Fed officials. The Fed said the move is intended to "normalize" their operations as the financial crisis winds down. The change is not a tightening and does not signal any change in monetary policy, the Fed said.

With apologies to Carly Simon:

Capitulation, capitulation
Is makin' me late
Is keepin' me waitin'

(These are the good old days)
And stay right here 'cause these are the good old days
(These are the good old days)
(These are the good old days)
(These are the good old days)
(These are.....the good old days)

30 minutes after opex expiration....if this just doesnt signal how crooked the game is, I dont know what does.....

Vonbek777 wrote:

I keep trying to believe that, but it is more of a two steps forward, one step back kinda of dance towards the edge...or we are all so fat that rushing isn't what it used to be.

Okay, slouching toward Armageddon, with a stop off at Gomorrah to admire the perns with the tattoos.

I would probably be much more seething if I got my thyroid level taken care of with those little booster pills, that I am supposed to get from the HMO doc whenever I can summon enough energy to make the damn appointment. Oh, gee, squirrel!

Someday this war's gonna end...

Citizen AllenM wrote:

slouching toward Armageddon
There's a book title. Love it.

creditcriminalslovetarp wrote:

30 minutes after opex expiration....if this just doesnt signal how crooked the game is, I dont know what does.....
Regulary options go off tomorrow.

I guess they wanted to cool off commodities cause oil is looking mighty unhealthy again, along with glod and silber.

Nice job gentle ben. Only give them one day to panic before the Olympic Weekend.

Still, an unscheduled bumpy.

Someday this war's gonna end...

So predictions for Friday anyone? I have a strange tingly feeling in my feet, but they're probably just asleep.

CR save these graphics for a future trade deficit post

Infographic of the Day: The U.S. Trade Imbalance Eclipsed by Competing Charts | Design and Innovation | Fast Company

have to go to full size here US Merchandise Trade | to better see what's happening in merchandise trade and it's not pretty

A disc representing 2009 is superimposed over a disc representing 2008 to show how much expenditures on imports such as cars and consumer electronics has decreased from one year to the next. The same technique is applied to exports, indicating the slowing of economic activity at home. And in the end, despite our new austerity, the aggregate total of imports for both years far exceeds the aggregate total of exports, leading to America's trade imbalance.

now go to America's service trade - NY Times which is carrying more and more of America's economic load. To no surprise look how financial services led by the fucking stands out

Net Net: the surest way out of the recession will be to develop new forms of economic activity not and the same ole bullshit being executed by the gubmit and corptocracy

The lenders decide the price in advance?

Hunh? To do a short sale you do need a buyer. Lenders
aren't smart enough to do this, and then bargain effectively.

Look at Jane, she was willing to pay more, and they didn't even
notice.

And the buyer is willing to pay only what they are willing
to pay.

Vonbek777 wrote:

So predictions for Friday anyone?

The last time we had volume this low was Thursday of opex week last month. Odd pattern, that, and you'll remember how it worked out last time.

I was pretty sure of that, gnome. It's just a relief that your linkies didn't turn into a lengthy thread.

Ah, the 'good americans' are working overtime.

(AP) A suburban Philadelphia school district used school-issued laptop webcams to spy on students at home, potentially catching them and their families in compromising situations, a family claims in a federal lawsuit.

Lower Merion School District officials can activate the webcams without students' knowledge or permission, the suit said. Plaintiffs Michael and Holly Robbins suspect the cameras captured students and family members as they undressed and in other embarrassing situations, according to the suit.

Suit: Schools Spied on Students Via Webcam - CBS News

DTO says laugh now cry later

It reminds me of the NewsRadio episode where Phil Hartman as Bill McNeal is trying to branch out into commercials, and keeps negotiating himself into smaller roles for nothing...

Thanks, bouncing in my head...just talking to my wife last night about Yeats and Crowley's little magik war.

They should have coupled the hike with a short sale ban.

DTO says laugh now cry later

• I'm thinking of buying some DTO tomorrow! Figure oil will drop back down to around $71 in the next 4 or 5 days.

Should have punched that ticket an hour ago. But Hu Knows?

Doom is on schedule.

I'm currently up in the air on the whole salt vs no salt thing in my margaritas.

Precisely.

I prefer salt.

During his late teens, Stack studied engineering in Harrisburg, Pa., where he lived on "peanut butter and bread (or Ritz crackers when I could afford to splurge," the manifesto read. He resisted the urge to eat cat food to supplement his diet, a suggestion he received from an elderly neighbor.

Troubling Portrait Emerges of Pilot Who Crashed Into Texas Building - Local News | News Articles | National News | US News - FOXNews.com

---CONJURE'S MAD MAX COUNTDOWN CLOCK---

The time is now:

11:48:06.2

The clock has advanced 0.1 seconds since 2/16/2010

Why, oh why, are they showing snowboarding when the men's 20km biathlon is on?

Another unintended consequence, this time social networking.

Here's another... Rob My House

Makes one feel a little less obscure being a technological Luddite, compared to cams installed in all toys.

@lawyerliz -- are there any existing laws that would force a bank to do a short sale?

Futures?

Black Swan events are becoming 's

Nope.

There are some "reverse foreclosures" involving hoas forcing banks to
foreclose ($hit or get off the pot), and tho I sympathize with the hoas,
I don't see it getting past the Florida Supremes.

Seems like you could get a declaratory judgment. Maybe. Saying
the bank had abandoned the mtg.

gotta wonder if the price of oil this week had anything to do with the rate hike....

80 a barrel will guarantee a double dip.

I kinda figured this would advance Conjure's clock mp. It has begun, hasn't it? Already the blogs are on fire-each side busily trying to push this off on the other with no regard to the truth. It is sick and it hurts my heart...The future is suddenly crystal clear and terrifying.

Fed Raises Discount Rate to 0.75% from 0.50%

comrade,

mix a drink, burn a fatty and enjoy some bedroom antics....

yellow brick roads are notoriously long....

Cross-country skiing is like hard work, dude. Who wants to watch that?

Snowboarding is just wicked cool!

I love watching the snowboarding. Mostly for Sean White, he's simply amazing at what he does.