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just for Doc

 

 

=WSJ:US Bks Searching For Short-Term Debt Liquidity Solutions

 

 

LONDON (Dow Jones)--The largest U.S. banks along with financial regulators

are in confidential discussions to find a solution for a lack of cash

liquidity in one corner of the short-term debt markets, according to people

familiar with the situation.

 

The plan, which has been in the works for three weeks, is aimed at helping

bank-affiliated investment vehicles that issued tens of billions of dollars in

short-term debt, including commercial paper. According to the people familiar

with the situation, the plan would be to create a so-called super conduit that

would issue short-term debt and serve as a buyer of assets currently held by

SIVs. These assets include securities tied to U.S. mortgages as well as debt

pools called collateralized mortgage obligations.

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Something bad is gonna happen to the markets to give us a 1000 pt down day...It's just a matter of time now.

 

It's the same stocks goin up every day.Most not doing much.I think many are bailing their savings and dumping it into the market.All my MM accounts dropped their rates again. :angry:

 

Savers are the enemy now :ph34r: ...Hated almost as much as bears ;)

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just for Doc

 

 

=WSJ:US Bks Searching For Short-Term Debt Liquidity Solutions

 

 

  LONDON (Dow Jones)--The largest U.S. banks along with financial regulators

are in confidential discussions to find a solution for a lack of cash

liquidity in one corner of the short-term debt markets, according to people

familiar with the situation.

 

  The plan, which has been in the works for three weeks, is aimed at helping

bank-affiliated investment vehicles that issued tens of billions of dollars in

short-term debt, including commercial paper. According to the people familiar

with the situation, the plan would be to create a so-called super conduit that

would issue short-term debt and serve as a buyer of assets currently held by

SIVs. These assets include securities tied to U.S. mortgages as well as debt

pools called collateralized mortgage obligations.

614858[/snapback]

What a frigging Insiders Game the markets are. All big macro deals of importance are done behind closed doors. I added to my Oct. EEM puts today and missed Googley puts by only a few seconds before the bell. Something is rotten in financial Denmark.

 

I fear before long we bears will get our wish, and I'm really ambivalent about it.

 

post-2253-1192220642.jpg

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just for Doc

 

 

=WSJ:US Bks Searching For Short-Term Debt Liquidity Solutions

 

 

? LONDON (Dow Jones)--The largest U.S. banks along with financial regulators

are in confidential discussions to find a solution for a lack of cash

liquidity in one corner of the short-term debt markets, according to people

familiar with the situation.

 

? The plan, which has been in the works for three weeks, is aimed at helping

bank-affiliated investment vehicles that issued tens of billions of dollars in

short-term debt, including commercial paper. According to the people familiar

with the situation, the plan would be to create a so-called super conduit that

would issue short-term debt and serve as a buyer of assets currently held by

SIVs. These assets include securities tied to U.S. mortgages as well as debt

pools called collateralized mortgage obligations.

614858[/snapback]

What a frigging Insiders Game the markets are. All big macro deals of importance are done behind closed doors. I added to my Oct. EEM puts today and missed Googley puts by only a few seconds before the bell. Something is rotten in financial Denmark.

 

I fear before long we bears will get our wish, and I'm really ambivalent about it.

 

post-2253-1192220642.jpg

614865[/snapback]

I'm not worried. I have a secret plan for my retirement.

post-837-1192220973.jpg

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Gunslinger control

Commentary: The 4 big rustlers on the mortgage ranch and how to corral them

By Chris Pummer

Last Update: 3:57 PM ET Oct 12, 2007

 

SAN FRANCISCO (MarketWatch) -- As Wall Street parties high on 14,000-proof Dow spirits, thousands of poor saps nationwide are going on benders of their own after getting notices of steep mortgage-rate hikes and realizing they're going to lose their homes.

 

While investors are eager to write off the credit crisis, the damage has yet to play out for 2 million homeowners who could face foreclosure in the next two years. The lending industry handed them time-bomb mortgages that defied long-accepted financial principles: loans whose balances rose each month, which required no documentation of ability to repay and whose recipients had proven incapable of managing debt for years.

 

Unlike the savings-and-loan meltdown in the first Bush presidency -- which left taxpayers to bail out lenders to the tune of $124 billion -- the victims under Bush II are hard-working Americans seduced by an industry hot to massively bend lending norms. Their loss: The roofs over their heads and their dignity along with it.

Both crises confirm an Economics 101 axiom often disregarded by GOP presidents: Underregulation threatens economic stability as much as overregulation. But unlike tight government constraints, which can deflate an entire economy, weak regulation hurts the common folk who wander unsuspectingly into a lawless New Frontier town where the marshal's a cowardly puppet of the wealthy land barons.

marketwatch

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Gunslinger control

Commentary: The 4 big rustlers on the mortgage ranch and how to corral them

By Chris Pummer

Last Update: 3:57 PM ET Oct 12, 2007

 

SAN FRANCISCO (MarketWatch) -- As Wall Street parties high on 14,000-proof Dow spirits, thousands of poor saps nationwide are going on benders of their own after getting notices of steep mortgage-rate hikes and realizing they're going to lose their homes.

 

While investors are eager to write off the credit crisis, the damage has yet to play out for 2 million homeowners who could face foreclosure in the next two years. The lending industry handed them time-bomb mortgages that defied long-accepted financial principles: loans whose balances rose each month, which required no documentation of ability to repay and whose recipients had proven incapable of managing debt for years. 

 

Unlike the savings-and-loan meltdown in the first Bush presidency -- which left taxpayers to bail out lenders to the tune of $124 billion -- the victims under Bush II are hard-working Americans seduced by an industry hot to massively bend lending norms. Their loss: The roofs over their heads and their dignity along with it.

Both crises confirm an Economics 101 axiom often disregarded by GOP presidents: Underregulation threatens economic stability as much as overregulation. But unlike tight government constraints, which can deflate an entire economy, weak regulation hurts the common folk who wander unsuspectingly into a lawless New Frontier town where the marshal's a cowardly puppet of the wealthy land barons.

marketwatch

614871[/snapback]

At first blush this seems surprising coming from this source.

 

Until you dig into the article and see the "innocent victims" slant for the people who obtained the liar loans.

 

Just more rationale for bailout.

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Gunslinger control

Commentary: The 4 big rustlers on the mortgage ranch and how to corral them

By Chris Pummer

Last Update: 3:57 PM ET Oct 12, 2007

 

SAN FRANCISCO (MarketWatch) -- As Wall Street parties high on 14,000-proof Dow spirits, thousands of poor saps nationwide are going on benders of their own after getting notices of steep mortgage-rate hikes and realizing they're going to lose their homes.

 

While investors are eager to write off the credit crisis, the damage has yet to play out for 2 million homeowners who could face foreclosure in the next two years. The lending industry handed them time-bomb mortgages that defied long-accepted financial principles: loans whose balances rose each month, which required no documentation of ability to repay and whose recipients had proven incapable of managing debt for years.? 

 

Unlike the savings-and-loan meltdown in the first Bush presidency -- which left taxpayers to bail out lenders to the tune of $124 billion -- the victims under Bush II are hard-working Americans seduced by an industry hot to massively bend lending norms. Their loss: The roofs over their heads and their dignity along with it.

Both crises confirm an Economics 101 axiom often disregarded by GOP presidents: Underregulation threatens economic stability as much as overregulation. But unlike tight government constraints, which can deflate an entire economy, weak regulation hurts the common folk who wander unsuspectingly into a lawless New Frontier town where the marshal's a cowardly puppet of the wealthy land barons.

marketwatch

614871[/snapback]

At first blush this seems surprising coming from this source.

 

Until you dig into the article and see the "innocent victims" slant for the people who obtained the liar loans.

 

Just more rationale for bailout.

614872[/snapback]

Yes, a surprising rant from marketwatch, but with reporters scouring the net for good stuff to steal, the foul turds are floating to the top of the main septic tank quicker. I don't think he was after hyping the bailout, that was tacked on to the end where he has his AUTHOR'S MESSAGE paragraphs like every politician mentions how he supports the troops. He's after Re-regulation of the financial system.

 

he question is: Will meaningful curbs now be put in place or get swept under the carpet by a rising stock market and stable economy? 

 

Investors only got Sarbanes-Oxley reforms to curb corporate corruption because members of Congress were themselves stockholders who'd been wronged -- and friends of many similarly harmed. 

 

We can only hope our millionaire lawmakers remember the days when they were struggling to buy their first home -- and not dismiss what's befallen millions of solid citizens as the result of their own stupidity.

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just for Doc

 

 

=WSJ:US Bks Searching For Short-Term Debt Liquidity Solutions

 

 

? LONDON (Dow Jones)--The largest U.S. banks along with financial regulators

are in confidential discussions to find a solution for a lack of cash

liquidity in one corner of the short-term debt markets, according to people

familiar with the situation.

 

? The plan, which has been in the works for three weeks, is aimed at helping

bank-affiliated investment vehicles that issued tens of billions of dollars in

short-term debt, including commercial paper. According to the people familiar

with the situation, the plan would be to create a so-called super conduit that

would issue short-term debt and serve as a buyer of assets currently held by

SIVs. These assets include securities tied to U.S. mortgages as well as debt

pools called collateralized mortgage obligations.

614858[/snapback]

What a frigging Insiders Game the markets are. All big macro deals of importance are done behind closed doors. I added to my Oct. EEM puts today and missed Googley puts by only a few seconds before the bell. Something is rotten in financial Denmark.

 

I fear before long we bears will get our wish, and I'm really ambivalent about it.

 

post-2253-1192220642.jpg

614865[/snapback]

I'm not worried. I have a secret plan for my retirement.

614867[/snapback]

I got a place I know as well. When I get a couple of quarters again, it'll be my treat.

post-2253-1192222383.gif

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