Jump to content

Market Awash in Sea of Red


Recommended Posts

How’d They DO That? – Professional Edition Fed Report

by Lee Adler, Saturday, September 12, 2009, in Money and The Fed, Professional Edition | Permalink |Comments (0) Edit The Treasury market laughed in the face of having to pay for $55 billion of new intermediate and long term paper on Tuesday 9/15. That combined with the reduction in the Fed’s subsidy of this market, due to end on October 31, should have hurt the market, but instead there was a buying panic. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.

Link to comment
Share on other sites

  • Replies 122
  • Created
  • Last Reply

The Last Hurrah

 

Well, I followed the ravening hoards fleeing from 6% sales tax Vermont to 0% sales tax New Hampshire. Today, this meant a 40 mile journey to Keene, NH, mostly to take advantage of the State Liquor store?€™s annual 15% off Italian Wine and Spirit sale. In Vermont, they consider drinking a sin and tax it accordingly, while in New Hampshire, it?€™s a revenue stream.

 

Everyone must have had the same idea as Rt. 9 to Keene was one steady stream of inbound traffic. Also stopped off at the local Dick?€™s sporting goods big box, very busy with the pre season hunters. Went over to Home Depot, which was also very busy.

 

Driving around downtown, the place was packed, even for a Saturday.

Link to comment
Share on other sites

They'll sweep this under the carpet somehow and stick the taxpayers with the bill = business as usual at the FDIC.

 

My neighbor is one of the commercial real estate loan officers for Corus. It will be interesting to see what happens to him. Probably nothing, but they should all be fired. They took everybody's deposits in good faith and then recklessly lent it out to build condo's. Morans. But, in the spirit of the times, they personally got paid and won't have take any responsibility for their actions. :angry2:

...the cycle will only continue...on to the next scam.

 

I'm wondering if anyone is tracking these "private asset sales"?

There must be some record of what they were paid and the resulting burn rate.

 

[EDIT] oops wait, here's a few:

 

What FDIC Auctions, Loss Sharing Deals Don't Tell Us

 

and

 

FDIC Sells $234 Million Of CRE Loans At 30% Discount, Beal Bank Largest Bidder

 

Lot's -O- Grist for the Mill...

Link to comment
Share on other sites

<h2 class="post-title">How’d They DO That? – Professional Edition Fed Report</h2>

by Lee Adler, Saturday, September 12, 2009, in Money and The Fed, Professional Edition | Permalink |Comments (0) Edit The Treasury market laughed in the face of having to pay for $55 billion of new intermediate and long term paper on Tuesday 9/15. That combined with the reduction in the Fed’s subsidy of this market, due to end on October 31, should have hurt the market, but instead there was a buying panic. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.

Great report Doc. Makes sense that the answer is hiding right there behind nomenclature gimmickry.

Link to comment
Share on other sites

jickiss is back!

 

 

 

jickiss is back!

 

 

and

 

Speaking of Red Ink....here is a Link to the Red Ink

that you will find in the Budget of the City of Philadelphia...

 

Question: Doc, do you thimk that the Senate of the Commonwealth will give ground on its position in total opposition to the Union Demands to permit collective Gaming of the Pension System Forever?

 

what-ever the answer, this article sure proves that Shorty has been right. From Coast to Coast,

the Money is Going, Going, Gone! pooooofff!

so

 

Shut 'em Down!!!!!

 

http://www.philly.com/philly/news/59109142.html

Link to comment
Share on other sites

I'm wondering if anyone is tracking these "private asset sales"?

There must be some record of what they were paid and the resulting burn rate.

 

[EDIT] oops wait, here's a few:

 

What FDIC Auctions, Loss Sharing Deals Don't Tell Us

 

and

 

FDIC Sells $234 Million Of CRE Loans At 30% Discount, Beal Bank Largest Bidder

 

Lot's -O- Grist for the Mill...

 

This is even better:

 

FDIC Reliance on Estimated Values for Asset Sales Called into Question

 

 

"The problem, though, is that if a non-performer is selling at 37¢, look at all the institutions that are holding non-performers at 100¢ or at least 95¢. They won't sell those assets and take that 60¢ discount. It would drive them underwater. They'd be illiquid. But that means there's no market. The only banks parting with the loans are the ones taken over by FDIC. That's the problem right now. It's a reality. But someone must make the big banks part with all those assets. It's a big woven tale of woe."

 

Hey Doc, maybe you could consider adding some this FDIC machination crap to the excellent Fed report?

 

 

:ninja:

Link to comment
Share on other sites

<h2 class="post-title">How’d They DO That? – Professional Edition Fed Report</h2>

by Lee Adler, Saturday, September 12, 2009, in Money and The Fed, Professional Edition | Permalink |Comments (0) Edit The Treasury market laughed in the face of having to pay for $55 billion of new intermediate and long term paper on Tuesday 9/15. That combined with the reduction in the Fed’s subsidy of this market, due to end on October 31, should have hurt the market, but instead there was a buying panic. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.

 

The banks would prefer a steeper yield curve. I don't think there is any incentive to get the long end lower. Might be time for some green shoots news to stall out the rally in the long end and goose stocks some more. With both bonds and equities now in such good shape there is plenty of room for some slot rattling. Just as well take the equities slot as high as possible.

 

The deterioration in the household economy is barely a story. When it is a story it's a human interest story, not an economics story. There is no political penalty attached to the now widespread lowered standard of living. In America if you fail you hide, shut up, disappear.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • ×
    • Create New...