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IDS World Markets Fri 19th October 07


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I think I'm gonna go buy one of those Prius things for when we are in Canada. It's about 125 miles between us and the babies. Back and forth a lot. This summer we were spending $500/month on gas. This year with the exchange rate and price rise could be $600-700. Crazy. I hate giving that kind of dough to George and Dick's buddies.

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The finger pointing and back biting begins in earnest:

Former Federal Reserve Chairman Alan Greenspan said a fund initiated by Treasury Secretary Henry Paulson to help SIVs avoid a fire sale of $320 billion of assets may harm investor sentiment, Emerging Markets reported on its Web site today.

. . . .

Greenspan said it wasn't clear to him that the benefits to be gained from such a fund exceeded the risks, according to the report in Emerging Markets, a newspaper that is published during meetings of the International Monetary Fund, the World Bank and regional development banks.

Bloomberg: SIV Concerns Trigger Worst Week for Credit in Three Months
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I just called beardrech. He's ok, but his computer died.

 

He expects to have a new one next week and will be rejoining us when he will write something in David's memory, as only beardrech can in his inimitable way.

616206[/snapback]

 

Speaking of missing persons....where's K Wave?

616219[/snapback]

Probably still in mourning about USC football.

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I think I'm gonna go buy one of those Prius things for when we are in Canada. It's about 125 miles between us and the babies. Back and forth a lot.  This summer we were spending $500/month on gas. This year with the exchange rate and price rise could be $600-700. Crazy.  I hate giving that kind of dough to George and Dick's buddies.

616249[/snapback]

 

 

Go for a 2.0litre turbo diesiel. (I have got one myself). Prius is a bit of a con I hear. V.little fuel saved over a petrol engine of same size.

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CAT bombed. One of the biggest weights in the Dow.

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Sorry, Doc... but you just cannot talk about a CAT, a bomb, and the market without pictorial consequences....

 

 

post-1762-1192803751.gif

 

 

 

 

 

 

:lol:

616252[/snapback]

 

:lol: :lol: :lol:

post-2253-1192804151.jpg

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I just called beardrech. He's ok, but his computer died.

 

He expects to have a new one next week and will be rejoining us when he will write something in David's memory, as only beardrech can in his inimitable way.

616206[/snapback]

 

Speaking of missing persons....where's K Wave?

616219[/snapback]

Probably still in mourning about USC football.

616254[/snapback]

 

Booty is soooo overrated...and for heaven's sake....drop the John David thingy.

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It didn't take long for the bailout to need a bailout. :ph34r:

 

October 19, 2007

Market Place

Banks? Plan to Help May Itself Need Help

By ERIC DASH and GRETCHEN MORGENSON

Does the rescue plan for the credit markets need to be saved?

 

The plan is still being developed, but the roughly $75 billion effort to snap up troubled securities is struggling to get off the ground, days after it was disclosed by the country?s three biggest banks with the support of the Treasury Department.

 

Citigroup, Bank of America, and JPMorgan Chase back the plan but are just beginning to hammer out the details. Bank regulators are aware of the discussions but some say they are out of the loop. And market participants are puzzled, with investors like Pimco and T. Rowe Price balking at buying in.

 

Yesterday, Citigroup executives said separately that they bought some time by securing $80 billion in financing through the end of the year. That provides some relief because Citigroup can avoid a fire sale of assets at distressed prices, but it is not a long-term solution for the bank or the industry. A greater amount of backup financing is needed.

 

The Treasury-supported proposal for the industry, however, provides a framework for a new fund to purchase assets held by structured investment vehicles, or S.I.V.?s, that have been pressured since the credit market meltdown this summer. It is intended to help the banks backing such vehicles avoid bringing those risky loans onto their balance sheets and to spare investors ? including money market funds ? distress.

 

http://www.nytimes.com/2007/10/19/business...agewanted=print

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I think it was on Tuesday that I suggested the $100 billion fund would be one of those projects that would be overwhelmed by events and quickly discarded and forgotten.

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I think I'm gonna go buy one of those Prius things for when we are in Canada. It's about 125 miles between us and the babies. Back and forth a lot.  This summer we were spending $500/month on gas. This year with the exchange rate and price rise could be $600-700. Crazy.  I hate giving that kind of dough to George and Dick's buddies.

616249[/snapback]

Make sure you buy it in the US. Just checked out price differences via Yahoo. US quote for '08 base is 20,950, Canadian quote is 29,500. unbelievable!

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