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The Most Famous Lunch Break Of All?


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#16 growler

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Posted 21 November 2003 - 10:12 AM

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!

#17 Bird D Durr

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Posted 21 November 2003 - 10:18 AM

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............

#18 wndysrf

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Posted 21 November 2003 - 10:19 AM

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.
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#19 anoscope

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Posted 21 November 2003 - 10:20 AM

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

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#20 Goldmember

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Posted 21 November 2003 - 10:20 AM

.....Well, last night night the Vancouver Canucks hosed the refs and the Chicago Black Hawks, so take that Chicago! :lol: :lol: :lol:
Anthony caused pearls to be dissolved in wine to drink the health of Cleopatra; Sir Richard Whittington was as foolishly magnificent in an entertainment to King Henry V; and Sir Thomas Gresham drank a diamond, dissolved in wine, to the health of Queen Elizabeth, when she opened the Royal Exchange; but the breakfast of this roguish Dutchman was as splendid as either. He had an advantage, too, over his wasteful predecessors: their gems did not improve the taste or the wholesomeness of their wine, while his tulip was quite delicious with his red herring.here

#21 machinehead

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Posted 21 November 2003 - 10:22 AM

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.
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#22 chiefywiefy

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Posted 21 November 2003 - 10:23 AM

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. :unsure: But not to worry. The industry to my knowledge has never paid investors below the $1.00 par value. :blink:

#23 DrStool

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Posted 21 November 2003 - 10:24 AM

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#24 wndysrf

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Posted 21 November 2003 - 10:32 AM

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.....
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#25 anoscope

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Posted 21 November 2003 - 10:40 AM

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?

#26 Bearman

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Posted 21 November 2003 - 10:41 AM

All the Bullhorning :lol:

1987 in Spades! :o !


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#27 Bearman

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Posted 21 November 2003 - 10:45 AM

Trans closed below 50% yestiddy :lol:

Dow will follow 9504 :lol:

#28 purdymouth

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Posted 21 November 2003 - 10:45 AM

Dow red already

:(

so sad

#29 Jimi

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Posted 21 November 2003 - 10:50 AM

Crapvision says the topic if "Fund Ethics."

Why's this guy talking so long?

:lol:
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#30 Ags Nightmare

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Posted 21 November 2003 - 10:50 AM

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."
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