Hierarchical handiwork.... IDS World Markets Fri 12th March 10
#3
Posted 11 March 2010 - 08:15 PM
#5
Posted 12 March 2010 - 12:49 AM
"Richard S. Fuld Jr., Lehman’s former chief executive, certified the misleading accounts, the report said.
“Unbeknownst to the investing public, rating agencies, government regulators, and Lehman’s board of directors, Lehman reverse engineered the firm’s net leverage ratio for public consumption,” Mr. Valukas wrote.
Mr. Fuld was “at least grossly negligent,” the report states, adding that Henry M. Paulson Jr., who was then the Treasury secretary, warned Mr. Fuld that Lehman might fail unless it stabilized its finances or found a buyer."
http://www.nytimes.c...s/12lehman.html
Only "grossly negligent"?...Try "LIED OUT OF HIS ASS"
#6
Posted 12 March 2010 - 01:29 AM
A flattish and relatively unexciting day. All Ords scraped up +0.1% and the only sector moving was Gold +1.4% trailed by Energy +0.4% and Financials +0.3%. There were small losses at the red end: Telecomms and Consumer Staples -0.3% were down the most.
Nothing much happening in Asia: China and Honkers -0.1%, India +0.2% and Nikkers +0.8%.
On to UK/Europe:
Footsie
DAX
CAC 40
#7
Posted 12 March 2010 - 05:30 AM
Everything going up.
S&P at high of the year.
IF retail sales are good we could get the blow off top some are waiting for.
Worth looking at USD/CAD. At 7 am EST we get CAD employment data, then 90 mins later US retail sales. IF the loonie then falls below 1.02 it could drop like a stone.
#10
Posted 12 March 2010 - 06:41 AM
There was definitely too much talk about Greece. In europe you couldnt turn on the TV last few weeks, or read ANY newspaper not to see a discussion about Greece, or read something about Greece.
What really happend? Those folks who were ALWAYS against the euro came out and said their things which they also said 10 years ago. Nothing new. They have their same opinion since 10 years. Yet, the euro went from 0.80 to 1.60 during the same time. Now it did fall to 1.35 and the whole world runs amok????????????????
The euro in fact is a GIFT for europe. We would have MEGA competitive devaluation during the world wide financial crisis. It would have been almost impossible for SME's to do business abroad, cause exchange rates would have gone amok.
The fx market always plays "topics". Now it was Greece, soon it willö be another thing. Maybe the monster budget deficit of the US.
#12
Posted 12 March 2010 - 08:28 AM
Lemur, on 12 March 2010 - 08:30 PM, said:
For about 12 months actually.
Color me surprised.
Still, I guess we are so doomed, etc.
... The pontifications above are nowhere near financial advice ...
#13
Posted 12 March 2010 - 08:37 AM
fxfox, on 12 March 2010 - 10:41 AM, said:
There was definitely too much talk about Greece. In europe you couldnt turn on the TV last few weeks, or read ANY newspaper not to see a discussion about Greece, or read something about Greece.
What really happend? Those folks who were ALWAYS against the euro came out and said their things which they also said 10 years ago. Nothing new. They have their same opinion since 10 years. Yet, the euro went from 0.80 to 1.60 during the same time. Now it did fall to 1.35 and the whole world runs amok????????????????
The euro in fact is a GIFT for europe. We would have MEGA competitive devaluation during the world wide financial crisis. It would have been almost impossible for SME's to do business abroad, cause exchange rates would have gone amok.
The fx market always plays "topics". Now it was Greece, soon it willö be another thing. Maybe the monster budget deficit of the US.
More rumours about a Greek bailout fuelled the rally I hear.
#15
Posted 12 March 2010 - 08:42 AM
Rationalize, on 12 March 2010 - 12:28 PM, said:
Color me surprised.
Still, I guess we are so doomed, etc.
Tell me about it. This board (in general) has been far too bearish right through the last year.
We need to stop being intransigent about this, admit we were wrong and modify our approach. Top calling is poison.
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