Brick Stoolhouse Posted September 6, 2008 Report Share Posted September 6, 2008 Here we go!FDIC takes over Silver State Bank in Henderson http://www.lvrj.com/breaking_news/27939119.html 686097[/snapback] Did anybody have that one in the Bank Failure Pool? Trader Joe? Did you call this one? Link to comment Share on other sites More sharing options...
roxy Posted September 6, 2008 Report Share Posted September 6, 2008 Weather Freaks! I'm probably going to lose the Internet here due to rain fade (3-6 inches!) for the next 48 hours, but here's an extremely nice interactive Weather Map to play with. The URl is set for Hanna, but just drag it down to watch Ike. Also note the keyboard commands to the right. Here, you can walk thru previous and future periods, model runs, map types, etc. Very informative mashup of several data sources. Enjoy (so far as it is) 686092[/snapback] I don't recall how many years passed since I was without internet for 48 hours. I recall it was an unbearable torture Link to comment Share on other sites More sharing options...
Brick Stoolhouse Posted September 6, 2008 Report Share Posted September 6, 2008 Detailed news on today meeting with GSEs. Execs will be fired, companies go under conservanship, stocks are diluted, but not zeroed. http://www.washingtonpost.com/wp-dyn/conte...8090503351.html Do you have the latest stock futures? How much rally we can expect Monday? 686096[/snapback] Diluted to what? I'll be happy if its a buck a share. I think I paid .95 for my Puts.If it goes to a buck or under I wonder how much they would be worth. Also,time to short the hell of the trashuries and dong the euro.Or is this somehow dollar bullish in some weird freaky currency way that I don't understand.Foxy,Bueller,anyone? Link to comment Share on other sites More sharing options...
Charmin Posted September 6, 2008 Report Share Posted September 6, 2008 One of the greatest market anal cysts of our time, or any time, wrote right here, just before his death- "The more often support is tested, the weaker it becomes." Rest in peace, LeeWhee. Your wisdom is irreplaceable, and all of us miss you. 685783[/snapback] Sam Seiden states it this way: "With each successive move in price to a demand or supply level, that demand or supply is absorbed, therefore, weakening the demand or supply. Much like the chopping of a tree, with each strike of the ax, more and more mass is removed and the tree is more likely to fall." http://www.tradingacademy.com/lessons/lessons20080905.shtm KIS Link to comment Share on other sites More sharing options...
4shzl Posted September 6, 2008 Report Share Posted September 6, 2008 Diluted to what? I'll be happy if its a buck a share.I think I paid .95 for my Puts.If it goes to a buck or under I wonder how much they would be worth. 686103[/snapback] I think you're looking at a 3-bagger. BWTFDIK. Under a conservatorship, the remaining common and preferred shares of Fannie and Freddie would be worth little Very, very little. Link to comment Share on other sites More sharing options...
4shzl Posted September 6, 2008 Report Share Posted September 6, 2008 Two stories above are slightly different. Read both. Significantly different. Times says preferred is toast, too. This is a very big deal. Link to comment Share on other sites More sharing options...
shorty Posted September 6, 2008 Report Share Posted September 6, 2008 US wants 'substantial' prison time for Gen Re, AIG execs U.S. prosecutors on Friday asked a Connecticut judge to sentence five former executives of Berkshire Hathaway Inc's General Re Corp and American Insurance Group Inc to "substantial" prison terms for misleading investors about AIG's financial condition. Prosecutors argued that sentences for the five defendants should be stiffer than the range of 168 months to 210 months calculated in a pre-sentence report. Link to comment Share on other sites More sharing options...
seamus Posted September 6, 2008 Report Share Posted September 6, 2008 F & F common are dogmeat. Every other bank, IB, and fraudster holding F & F paper are golden. It's that simple. Mebbe Seamus will comment -- I think he was the first to predict this outcome 2 weeks ago. 686065[/snapback] Thx - 4shzl...we did buy a lot of paper in the past month or so. However, I'm not sure this or any kind of announcement will do anything so we will just have to wait and see. Link to comment Share on other sites More sharing options...
4shzl Posted September 6, 2008 Report Share Posted September 6, 2008 Thx - 4shzl...we did buy a lot of paper in the past month or so. However, I'm not sure this or any kind of announcement will do anything so we will just have to wait and see. 686109[/snapback] This is a Page One story in The Times -- if the reporters and their editor got it wrong, they are gonna be in the doghouse for a very long time. The following line suggests to me that the subdebt may be in line for a little haircut (emphasis on maybe), but the senior paper and MBS will be full faith and credit. the companies would be able to continue functioning with the government generally standing behind their debt, people briefed on the discussions said Link to comment Share on other sites More sharing options...
quanta Posted September 6, 2008 Report Share Posted September 6, 2008 This is a Page One story in The Times -- if the reporters and their editor got it wrong, they are gonna be in the doghouse for a very long time.? The following line suggests to me that the subdebt may be in line for a little haircut (emphasis on maybe), but the senior paper and MBS will be full faith and credit. 686111[/snapback] Here's the major difference between the Times and Post articles - from the Post: Instead of giving each company a big capital infusion up front, the government plans to make quarterly infusions as the companies' losses warrant, the sources said. This would be an attempt to minimize the initial cost of the rescue. So it's the next step from hot air BS to a bandaid on an oozing sore... Make that a slashed artery? Link to comment Share on other sites More sharing options...
Dharmaeye Posted September 6, 2008 Report Share Posted September 6, 2008 Proceed directly to the low test 686089[/snapback] Bradley turn day Tuesday. Link to comment Share on other sites More sharing options...
roxy Posted September 6, 2008 Report Share Posted September 6, 2008 Here's the major difference between the Times and Post articles - from the Post: Instead of giving each company a big capital infusion up front, the government plans to make quarterly infusions as the companies' losses warrant, the sources said. This would be an attempt to minimize the initial cost of the rescue. So it's the next step from hot air BS to a bandaid on an oozing sore... Make that a slashed artery? 686112[/snapback] No, not a slashed artery. Both companies are insolvent but perfectly liquid. It is sufficient to inject about $1 bln per month for few years to perfectly fix them. I bet that the whole bailout will cost under $50 bln stretched for 5 years. Comparing with war in iraq it's peanuts. Link to comment Share on other sites More sharing options...
roxy Posted September 6, 2008 Report Share Posted September 6, 2008 Diluted to what? I'll be happy if its a buck a share.I think I paid .95 for my Puts.If it goes to a buck or under I wonder how much they would be worth. Also,time to short the hell of the trashuries and dong the euro.Or is this somehow dollar bullish in some weird freaky currency way that I don't understand.Foxy,Bueller,anyone? 686103[/snapback] Your puts are safe Link to comment Share on other sites More sharing options...
roxy Posted September 6, 2008 Report Share Posted September 6, 2008 Bernanke and Paulsen Link to comment Share on other sites More sharing options...
roxy Posted September 6, 2008 Report Share Posted September 6, 2008 Any more news from those bastards? Link to comment Share on other sites More sharing options...
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