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IDS World Markets Fri 19th September 08


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C'mon. A $50 billion fund to insure the MMFs is pointless. There are trillions of losses buried in those things. Don't get suckered.

690955[/snapback]

It seems it's going to be politically difficult - if not impossible - to abandon the principle based on escalating size of a problem that will likely drip out over time.

 

Doc, you & I have long shared camp as deflationists. But the decisions of the past two weeks and those the past 72 hours are forcing a reconsideration on my part for the very first time.

 

How 'bout you - you blinking?

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DJ NY Fed Accepts $8 Billion In Agency Discount Note Purchase

 

 

NEW YORK (Dow Jones)--The Federal Reserve Bank of New York announced Friday

that in its inaugural agency discount note purchase auction it had accepted $8

billion in securities for its permanent holdings.

 

The auction comes as part of an initiative launched by the bank earlier in

the day, as the Federal Reserve works to ease the financial-sector crisis. The

auction closed at 3 p.m. EDT (1900 GMT).

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Pursuant to rule 11890(B), NASDAQ, on its own motion, will cancel all trades greater than 20% away from the prior day?s close executed today between 9:30 and 10:30 a.m. ET. This decision cannot be appealed. MarketWatch has coordinated this decision with other UTP Exchanges except CBSX, NYSE & AMEX. NASDAQ will be canceling trades on the participant?s behalf. This decision cannot be appealed. The stocks affected are as follows with the reference price (previous close) to calculate the high & low break point: AFL ($64.25), CPA ($35.03), EQR ($49), FCL ($37.11), FFCH ($26.31), GE ($24.79), GLDC ($1.908), IJS ($68.85), IWN ($70.34), KBE ($35.83), MCO ($36.6), OKE ($36.49), OLP ($16.82), PCL ($56), PCP ($88.15), PJB ($23.49), PRU ($83.99), PSL (26.1492), PX ($82.16), RKH ($111.7), RNR ($50.63), SSO ($53.17), STT ($59), TCBI ($20.36), TGT ($55.53), UNM ($24.95), VEU ($43.58), WFC ($37), IWO ($74.5608), IJT ($64.52), PSL ($26.1492), IWN ($70.34) The list of reference points with high and low break points will be posted on NASDAQTrader.com shortly.

 

What??

 

*UPDATE

 

 

Sep 19, 2008 14:16:55 ET NASDAQ has reviewed the transactions under rule 11890 (B) on its own motion filing involving the securities listed below executed between 09:30:00 and 10:30:00 ET today and has determined that all trades will stand. This decision cannot be appealed. NASDAQ MarketWatch has coordinated this decision with other UTP Exchanges except CBSX, NYSE & AMEX. The stocks affected are as follows: "AIG, CBB, OMX, RF, GR".

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It seems it's going to be politically difficult - if not impossible - to abandon the principle based on escalating size of a problem that will likely drip out over time.

 

Doc, you & I have long shared camp as deflationists. But the decisions of the past two weeks and those the past 72 hours are forcing a reconsideration on my part for the very first time.

 

How 'bout you - you blinking?

690972[/snapback]

 

 

Sure.

 

I have no clue how this shakes out. Let's see if the reported M's start to shrink in the weeks ahead.

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