growler Posted November 21, 2003 Report Share Posted November 21, 2003 Freddie Mac restates profits by over $5 billion Translation: We have grown so big and have so many derivatives/swaps outstanding that we don't know what the fu*k we're doing. Reminds me of Worldcom. First group of auditors found $4 billion of fraud. Second group found $7 billion. Third group $9 billion. Fourth - $11 billion. Don't worry - we can police ourselves...trust us! Link to comment Share on other sites More sharing options...
Bird D Durr Posted November 21, 2003 Report Share Posted November 21, 2003 Freddie Mac restates profits by over $5 billion Translation: We have grown so big and have so many derivatives/swaps outstanding that we don't know what the fu*k we're doing. Reminds me of Worldcom. First group of auditors found $4 billion of fraud. Second group found $7 billion. Third group $9 billion. Fourth - $11 billion. Don't worry - we can police ourselves...trust us! With the Fox watching the Chickens............It doesn't surprise me............ Link to comment Share on other sites More sharing options...
wndysrf Posted November 21, 2003 Report Share Posted November 21, 2003 Freddie Mac restates profits by over $5 billion Translation: We have grown so big and have so many derivatives/swaps outstanding that we don't know what the fu*k we're doing. Reminds me of Worldcom. First group of auditors found $4 billion of fraud. Second group found $7 billion. Third group $9 billion. Fourth - $11 billion. Don't worry - we can police ourselves...trust us! What a colossal joke... I bet FRE and FNM have more deriviatives, hedges, options, swaps, etc. on the books than real mortgages. The HedgeBook has grown into a monster, likely exceeding the entire amount of mortgage backeds held. Yet little of it is marked to market, or even reported on the balance sheet. Lots hidden in off balance sheets vehicles offshore..... Yet the stock continues to hold withing its 3-year trading range. Unrelenting demand for bad paper continues. Liquidity abound. Link to comment Share on other sites More sharing options...
anoscope Posted November 21, 2003 Report Share Posted November 21, 2003 my observations (with musical interlude) Speakers on - N E N A - 9 9 R e d B a l l o o n s E x c e r p t Link to comment Share on other sites More sharing options...
Goldmember Posted November 21, 2003 Report Share Posted November 21, 2003 .....Well, last night night the Vancouver Canucks hosed the refs and the Chicago Black Hawks, so take that Chicago! Link to comment Share on other sites More sharing options...
machinehead Posted November 21, 2003 Report Share Posted November 21, 2003 just a brick in the wall...WTO's Supachai Says Escalating Tensions Could Lead to Trade War Australian PM Howard told farmers that the U.S.-Australian trade liberalization agreement may be ditched if the U.S. isn't opened to Australian agricultural products. This from a close U.S. ally that Bush just visited a few weeks ago. Trade is a policy issue, but markets as discounting mechanisms react to new developments promptly. A protectionist world is incompatable with free movement of capital (a/k/a "hot money"). If each nation starts pulling into its own shell, the days of mo-mo markets with P/E's in the thirties, and raising $500 billion annual financing from foreigners, are over. Link to comment Share on other sites More sharing options...
chiefywiefy Posted November 21, 2003 Report Share Posted November 21, 2003 Freddie Mac restates profits by over $5 billion Translation: We have grown so big and have so many derivatives/swaps outstanding that we don't know what the fu*k we're doing. Reminds me of Worldcom. First group of auditors found $4 billion of fraud. Second group found $7 billion. Third group $9 billion. Fourth - $11 billion. Don't worry - we can police ourselves...trust us! What a colossal joke... I bet FRE and FNM have more deriviatives, hedges, options, swaps, etc. on the books than real mortgages. The HedgeBook has grown into a monster, likely exceeding the entire amount of mortgage backeds held. Yet little of it is marked to market, or even reported on the balance sheet. Lots hidden in off balance sheets vehicles offshore..... Yet the stock continues to hold withing its 3-year trading range. Unrelenting demand for bad paper continues. Liquidity abound. And many large brokerage "Govt." money market funds are solely invested in Fannie and Freddie paper. But not to worry. The industry to my knowledge has never paid investors below the $1.00 par value. Link to comment Share on other sites More sharing options...
DrStool Posted November 21, 2003 Report Share Posted November 21, 2003 Your Anals Opening Intraday is up and ready for download. Take a subscribatory, open it and download it RIGHT NOW, along with everything else in your Anals!? 15 Day Intro Subscribatory. Just $2.99! Get In RIGHT NOW! Fine tune your timing! Stooltrading is the place! Join your fellow stoolies sharing charts, trading signals and ideas! Each has a different style, and one may be just right for you. Doc gives his commentary as well, with illustrations of intraday cycles throughout the day with projections for highs, lows, and cycle time turns for the SPX and QQQ. He also gives cmap targets for individual stocks by request. There are no superstars in Stooltrading, just Doc and a group of hard working Stoolies, honestly trying to help each other and themselves, constantly checking and balancing one another's views. Our Founding Fathers knew it's good to have checks and balances. The more checks the more the balances. So take a subscribatory to Stooltrading RIGHT NOW, and increase your checks and balances! Become a Stooltrader and join the fun!? Link to comment Share on other sites More sharing options...
wndysrf Posted November 21, 2003 Report Share Posted November 21, 2003 Fed Chief Rubber Chicken speeches almost every day. What are they afraid of? Maria appears to be wearing an "easy entry" blouse with a zipper closure. Wish one of those thick necked Irish traders would molest her, unzip that dress, so we can see what she looks like in her lingerie, once and for all..... Link to comment Share on other sites More sharing options...
anoscope Posted November 21, 2003 Report Share Posted November 21, 2003 Your Anals Opening Intraday is up and ready for download. Take a subscribatory, open it and download it RIGHT NOW, along with everything else in your Anals!? 15 Day Intro Subscribatory. Just $2.99! Get In RIGHT NOW! Fine tune your timing! Stooltrading is the place! Join your fellow stoolies sharing charts, trading signals and ideas! Each has a different style, and one may be just right for you. Doc gives his commentary as well, with illustrations of intraday cycles throughout the day with projections for highs, lows, and cycle time turns for the SPX and QQQ. He also gives cmap targets for individual stocks by request. There are no superstars in Stooltrading, just Doc and a group of hard working Stoolies, honestly trying to help each other and themselves, constantly checking and balancing one another's views. Our Founding Fathers knew it's good to have checks and balances. The more checks the more the balances. So take a subscribatory to Stooltrading RIGHT NOW, and increase your checks and balances! Become a Stooltrader and join the fun!? what happened to paypal? not an option now? Link to comment Share on other sites More sharing options...
Bearman Posted November 21, 2003 Report Share Posted November 21, 2003 All the Bullhorning 1987 in Spades! ! EXTREME EXAGGERATED COMPLACENY ! !L O B! ! Link to comment Share on other sites More sharing options...
Bearman Posted November 21, 2003 Report Share Posted November 21, 2003 Trans closed below 50% yestiddy Dow will follow 9504 Link to comment Share on other sites More sharing options...
purdymouth Posted November 21, 2003 Report Share Posted November 21, 2003 Dow red already so sad Link to comment Share on other sites More sharing options...
Jimi Posted November 21, 2003 Report Share Posted November 21, 2003 Crapvision says the topic if "Fund Ethics." Why's this guy talking so long? Link to comment Share on other sites More sharing options...
Ags Nightmare Posted November 21, 2003 Report Share Posted November 21, 2003 June 2004 ?....... (REUTERS) Freddie delaying 2003 earnings due to prior errors NEW YORK, Nov 21 (Reuters) - Freddie Mac , the No. 2 U.S. mortgage finance company, is delaying the reporting of its 2003 earnings as a result of prior accounting errors that forced the company to upwardly revise past earnings by $5 billion. The company said earlier Friday that it expects to release its 2003 results by June 30, 2004. "There were a lot of accounting mistakes made," said Martin Baumann, Freddie Mac's chief financial officer, in a conference call with anal cysts. "We need to correct our (accounting) infrastructure." Link to comment Share on other sites More sharing options...
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