DrStool Posted January 24, 2010 Report Share Posted January 24, 2010 I see zero chance of filibuster. I can hear the words now. "America deserves and up or down vote on the Fed Chairman". Which they do of course, in most every instance. There are now by the way almost 100 ongoing filibusters in this session alone. Now you might hate every single bill being held up but as a structural matter the governance of the US is being degraded and destroyed. Congresses roll has been degrading for decades and now it has just slipped off into absurdity, kubuki and paralysis. This in itself is extremely bearish. The economic crisis is at root a political one because politics and the economy are inseparable. Government directed the profits to the financial and banking sphere, period. And called it free markets. Well I better quit. My number one outline for the year, which is worthless, was that there would be a selloff in the first half to set the stage for QEII. Can there be a cloture vote before the filibuster begins. We have 5 holds-- 5 senators who have declared that they WILL filibuster. Doesn't that guarantee that there will be a filibuster. This nomination smells dead to me. Link to comment Share on other sites More sharing options...
DrStool Posted January 24, 2010 Report Share Posted January 24, 2010 The only situation in which your broker can take the other side of your trade, is if he is prepared to offer a better price than the open market. And, this is reported and verified every single day. Same deal with a market maker. If their price is not better than market, then their bid/ask does not get hit. Duh. Seriously stoolies .. do your background reading, and think. This is a moronic comment. Which is typical of many of your comments, you arrogant jackass. Link to comment Share on other sites More sharing options...
Rationalize Posted January 24, 2010 Report Share Posted January 24, 2010 This is a moronic comment. Which is typical of many of your comments, you arrogant jackass. Actually, it's technically correct. But, I guess I don't mind if it gets deleted Link to comment Share on other sites More sharing options...
Drano Posted January 24, 2010 Report Share Posted January 24, 2010 Your friend Erin Burnett. http://www.businessinsider.com/erin-burnet...two-days-2010-1 so glad I don't have cable...... Link to comment Share on other sites More sharing options...
DrStool Posted January 24, 2010 Report Share Posted January 24, 2010 Actually, it's technically correct. But, I guess I don't mind if it gets deleted It's not even technically correct, you freaking moron. We are talking about complex mortgage securities here, not stocks. Even with stocks, there's absolutely nothing in practice that prevents the brokerage firm making a recommendation from shorting the stock to you. They do it ALL the time. You put in a market order to buy, they'll short it to you at the lowest price if their intent is to build a short position. Your best bet at this point is to shut the fornicate up for a few weeks. This is like baseball. 3 strikes and you're out, and you have two and have fouled a couple off. Don't press your luck. I'm mad about a lot of stuff right now. I live in an insane country, in an insane world, and I have no patience for your condescension. Link to comment Share on other sites More sharing options...
capitall Posted January 24, 2010 Report Share Posted January 24, 2010 In the article to which Jorma provided a link, one reads.... QUOTE “My view is Chairman Bernanke helped save the world from depression,” said Mr. Mishkin, an economist at Columbia University. “Whether you agree with every policy he’s pursued or some of the ways the bailouts were done, the outcome here, given the severity of the shock, is a good one. But that’s hard to explain to the American public when we’re sitting with 10 percent unemployment.” Gosh, can you imagine, people are so clueless that they don't even realize that 10 percent unemployment (actually much higher) is a good outcome. BTW, as we've discussed here before, the Supreme Court's equation of corporate campaign contributions with free speech is derived from the previous ruling that made corporations into "persons" in the legal sense. If that ridculous ruling could be reversed, not the it ever would be, the whole stupid argument would all fall down. If the economic crisis illustrates anything well, it shows the folly of letting too-big-to-fail corporations have all the legal rights of persons, but none of the responsibilities. Link to comment Share on other sites More sharing options...
Rationalize Posted January 24, 2010 Report Share Posted January 24, 2010 ...Your best bet at this point is to shut the fornicate up for a few weeks. ... Time for a break. If anyone misses my charts, PM me. [Or email for those who have my address.] Good luck, and may your shorts go to zero !! p.s. Cheers Doc. My posts probably don't attract many readers, and my charts usually get less than 20 clicks.. You're running a business here, and I respect that. Link to comment Share on other sites More sharing options...
MrHanky Posted January 24, 2010 Author Report Share Posted January 24, 2010 The only situation in which your broker can take the other side of your trade, is if he is prepared to offer a better price than the open market. And, this is reported and verified every single day. Same deal with a market maker. If their price is not better than market, then their bid/ask does not get hit. Duh. Seriously stoolies .. do your background reading, and think. I have a pretty simple example,besides the obvious fraud that Doc mentions...I can go on for hours about that,as I have traded HUNDREDS if not thousands of IPO's and secondary offerings where the market maker holds the cards. I trade ALOT of muni bonds,which have no official bid/ask.My account may show a price of let's say $100 for a particular bond.My broker can send it for a bid at his firm and and get an offer of 94.Luckily my broker who is a good friend of mine sends it out for bid to 10 or 20 others outside the firm and see where he can get me the best price.My broker still makes a good commission,but I can get between 98-102 for the same bond by letting the open market bid for my bond.Only 1 out of 10 bonds ends up with a decent bid from my brokerage. HUGE profits are made by this practice every day,there are HUGE margins on bonds,and firms will do their best to rape you. Most brokers would just say "Your bond is worth 94,do you want it,or not?"and the trading desk will sell it to another client days later for 101 or 102 (they do it every day).I can easily get screwed by 10% or more on lower graded paper because they will hammer me even more.My average bond trade is 100k,so I can get screwed out of 3 to 8k or more if I trust the brokerage and not use the open market. Bottom line is,I would normally be trading with only the desk at the firm (instead of the open market) who has there own interests and don't give a crap about me.Since I have someone I can count on to get the fair pricing I can do business without getting raped.99% of people don't have that advantage. Link to comment Share on other sites More sharing options...
cwd Posted January 24, 2010 Report Share Posted January 24, 2010 Your brokerage firm should never be able to take the other side of your trade,no matter what.Total conflict of interest.Should be routed to the open market for trading.A brokers job is to look out for the best interest of the client,if the broker is on the other side of the trade,that's impossible. Furthermore,brokerage firms (or banks) should not be allowed to own or control market makers....Period. Another problem I have is.....So many deals I have done in the past,IPO's,secondaries and so on,were underwritten by GS AND the market maker was a DIVISION of GS.total horseshit in my opinion..... Right on, Link to comment Share on other sites More sharing options...
cwd Posted January 24, 2010 Report Share Posted January 24, 2010 A multi-million dollar law suit would win. Can you imagine what the jury would think. I would guess you will see one. Link to comment Share on other sites More sharing options...
joe3pack Posted January 24, 2010 Report Share Posted January 24, 2010 swenlin snippet: "The weekly-based chart of the S&P 500 shows that the PMO has topped at a very overbought level, hinting that we may be at an important top. On the positive side, the price index is holding above the long-term declining tops line." another snippet: "Bottom Line: We have just witnessed the worst three-day decline since the March 2009 bottom. I think it is the beginning of a more substantial decline, but short-term indicators are so Dover Sole that the next thing we will probably see is a bounce." http://www.decisionpoint.com/ChartSpotlite...0122_cspot.html Link to comment Share on other sites More sharing options...
joe3pack Posted January 24, 2010 Report Share Posted January 24, 2010 gliding gently toward a monster waterfall (or not): Link to comment Share on other sites More sharing options...
Ags Nightmare Posted January 24, 2010 Report Share Posted January 24, 2010 Cspan just opened up 150000 hours of archived video from way back...they have it labeled also....lotta Greenie sheet.....it's a virtual library of hypocrisy on tape.... this one is long ....but watching some of Helo Ben from back in 2007 is mind blowing.... http://www.c-spanvideo.org/program/199968-1 Link to comment Share on other sites More sharing options...
joe3pack Posted January 24, 2010 Report Share Posted January 24, 2010 trader the joe: was up around denver and glenwood springs in september. should've looked you up. pretty amazing scenery in them thar parts. Link to comment Share on other sites More sharing options...
shorty Posted January 24, 2010 Report Share Posted January 24, 2010 unlimited campaign donations. . . I'm actually not worried about that because although they can fool some of the people some of the time, I believe the collective common sense of the American people is sufficient to protect them from misleading commercials, whether they're replayed 100 times or 10,000 times. I think a lot of money will be wasted trying to convince people to vote for jerks. A lot of jerks are going to get voted out of office this fall. It's like on CNBC they can keep hyping how great GOOG and AAPL are, but as people see the stocks plunging day after day they'll eventually catch on to reality, and git out. Link to comment Share on other sites More sharing options...
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