donnemuir (usagold - 20September2008; 13:25)
Goldman Sachs seems to be weathering the storm better than most. I wonder where Paulson will be after the election.
....warum hinterfragt denn keiner, warum GS alles so viel besser übersteht als alle andern :rolleyes:mad hat vielleicht ein Vögelchen gepfiffen :rolleyes:mad warum begann die endültig grosse Rettungsaktion und Shortselling-Verbot ausgerechnet dann, als es GS auch an den Kragen ging :rolleyes:mad warum wird GS nicht bestraft - sie waren doch grosse Shortseller (und haben sich noch gebrüstet damit) von den Produkten die sie den Kunden angedreht haben, andere Banken müssen den Dreck von den Kunden zurückkaufen und horrende Bussen bezahlen :rolleyes:mad irgendwann muss doch dem letzten Depp ein Lichtlein aufgehen :rolleyes:mad oder sehe ich da etwas falsch :rolleyes:confused
September 21, 2008
Fury at $2.5bn Lehman bonus:biggun
Nomura and Barclays table bids today for US giant’s London operation as bank’s administrator likens collapse to Enron
John Waples and Danny Fortson
STAFF at Lehman’s New York office who helped to cause the world’s biggest corporate bankruptcy are to share in a $2.5 billion bonanza.
The bonus, which has been described by London staff as a “scandal” has been pledged by Barclays Capital, the British-based bank that last week acquired Lehman’s American operation and took on 10,000 staff.
The $2.5 billion (£1.4 billion) pot, which has been ring-fenced as part of the acquisition, has caused huge resentment among the 5,000 staff in the firm’s European and Middle Eastern operations who are not guaranteed to be paid after this month. There are, however, hopes that half the jobs in Lehman’s Canary Wharf office could be saved today by either Barclays or Nomura. Bids are being submitted for its UK equities and investment-banking business.
A Chapter 11 bankruptcy document filed by Lehman Brothers Holdings Inc says that Barclays has identified eight individuals out of the New York staff of 10,000 who are vital to make the deal succeed and a further 200 who are identified as “key”. It is thought that these eight directors will be locked into two-year contracts worth between $10m and $25m a year....
full story: http://business.timesonline.co.uk/t...icle4795072.ece
....wenn es denen doch wenigstens so ginge: http://www.youtube.com/watch?v=0fz9-gqwThQ
Rescue Plan for the People
...wenn das wirklich so stimmt :schreck
:verbeug Cytek (usagold - 21September2008; 7:29)
On the slippery slope of socialism
U.S. taxpayers will be left with the mother of all debt once this bill is passed. So this 800 Billion + bad debt holding tank will auction this debt off at an even lower price. So housing prices could drop another (10,20,or 30%) once this occurs. Looks like everyones house in the U.S. will loose thousands over the next two years. This measure is only a stop gap to oblivion. Jeff Rense’s illustration has got it right http://www.rense.com. An iceburg has just sunk the U.S. and that iceburg is the Federal Reserve!!!!!!
I was watching Fox news yesterday morning. They brought on Ron Paul and asked his opinion on the present crisis. He said that will would definately sink the US Dollar, funny thing right after he said that there appeard to be alot of white noise in the background but Ron’s voice was loud and clear and they cut off the conversation and said that they lost him. I have a background in audio engineering and this White Noise was definately induced. More control and more B.S.
So will they use the DTCC. http://www.dtcc.com/ Depository trust and clearing corporation to do the dirty work. The Depository Trust Company (DTC) is the best kept secret in America. Headquartered at 55 Water Street in New York City, the average American has no clue that this financial institution is the most powerful banking corporation in the world.
All i can say from here is the next few weeks will be very interesting to watch.
read ---> http://ming.tv/flemming2.php/__show...0010-000923.htm
Banking crisis: Merrill Lynch top brass set to share $200m:biggun
Even by Wall Street standards, the sums are unusually high for such a short period of employment
Merrill Lynch's newly recruited chief executive, John Thain, stands to share a $200m (£111.4m) payout with two senior lieutenants for less than a year's work which culminated this week in the bank surrendering its 94-year-old independence.
The Wall Street bank known as the "thundering herd" agreed to a $50bn takeover by Bank of America on Monday after a hasty 48 hours of negotiation. The talks were prompted by fears over banking stability arising from the collapse of Lehman Brothers.
Thain, who was previously the head of the New York Stock Exchange, joined Merrill in December with a mandate to steer the bank out of financial trouble. When he arrived, he was given a $15m signing on bonus. If he leaves in Bank of America's takeover, he stands to get a further $11m in accelerated stock payouts.
Two former Goldman Sachs executives hired by Thain are likely to do even better. Merrill's head of global trading, Thomas Montag, who joined in August, has already received a $39m bonus. Together with stock options accelerated by a buyout, he could end the year with $76m. The bank's head of strategy, Peter Kraus, was given a $95m package including bonuses and stock awards to replace his generous compensation at Goldman when he joined in May, according to figures obtained by Bloomberg News.....
full story: http://www.guardian.co.uk/business/...ecutivesalaries
21 September 2008
Goldmans Sachs and Morgan Stanley To Become Bank Holding Companies
Goldman, Morgan Become Bank Holding Companies, Ending Era
By Steven Sloan
Sunday, September 21, 2008
Last two major investment banks to be regulated like commercial rivals
WASHINGTON — A week after Lehman Brothers collapsed and Merrill Lynch put itself up for sale, the two remaining investment banks — Goldman Sachs and Morgan Stanley — won approval Sunday from the Federal Reserve Board to convert to bank holding companies.
The Fed said its approval was subject to a five-day antitrust waiting period but the announcement effectively ends the business of standalone investment banking and dramatically changes the landscape of Wall Street. (Time for the confidence men to cash in their chips and either leave town or go straight, more or less - Jesse)
To help Goldman and Morgan transition to traditional banking — which carries with it, among other things, tougher capital standards — the Fed said it would allow the firms to pledge the same types of collateral at the discount window as their commercial counterparts. Since the Fed opened the discount window to investment banks in March, the firms have mostly only been able to post highly rated securities as collateral. Now, Goldman and Morgan can send a broader range of collateral to the Fed, including mortgages.
The Fed said the same rule will now also apply to Merrill, which made a deal last week to sell itself to Bank of America Corp. (That makes sense - Jesse)
In addition to the broader collateral rule, the conversions could also be beneficial by allowing Goldman and Morgan to raise money by taking in insured deposits. The move also subjects them to more oversight from the Fed, which regulates bank holding companies. (That's FDIC coverage baby. Think the banks that have been toeing the line all these years will be jealous and pissed off? You bet. - Jesse)
In a release Sunday night, Goldman said that since spring the Fed has been reviewing the firm’s "liquidity and funding profile, capital adequacy, and overall risk management framework." Goldman said its Tier 1 capital ratio at Sept. 30 was 11.6%.
Goldman did not say what sort of banking charter it would use, but Morgan Stanley said it plans to convert its Utah industrial bank to a national bank charter. Morgan Stanley said it had more than 3 million retail accounts and $36 billion in bank deposits as of Aug. 31. It did not reveal its Tier 1 capital ratio.
Morgan said it would "pursue initiatives to expand the retail banking services it offers its retail clients and build a stable base of core deposits."
Posted by Jesse at 11:16 PM
Traders Say: "the Dollar Will Get Crushed"
The Dollar has been in a decline thanks to the profligate stewardship of Greenspan and Bernanke. Paulson and Rubin helped Wall Street to hijack the US economy and twist it to serve the enrichment of the financial sector.
Now that it is unraveling we ought not to underestimate the lengths that the Treasury and Fed will attempt to forestall the collapse itself. They have had and will continue to receive help from complicit central bankers, vassal states and protectorates like Japan and Saudi Arabia.
But US debt can only be defaulted or forgiven. It cannot be repaid. Without the backing of a world government or the confiscation of the savings of most of the world the dollar is in a death spiral to failure.
Dollar May Get `Crushed' as Traders Weigh Up Bailout
By Bo Nielsen and Anchalee Worrachate
Sept. 22 -- Treasury Secretary Henry Paulson's plan to end the rout in U.S. financial markets may derail the dollar's three-month rally as investors weigh the costs of the rescue. (The rally was a technical bounce given some extra strength from manipulation. - Jesse).....
full story: http://jessescrossroadscafe.blogspot.com/
Paulson and Rubin helped Wall Street to hijack the US economy..... mir freundlichem Gruss von GS :bad
21 September 2008
Time to Put Away Childish Things
When I was a child, I spoke as a child, I understood as a child, I thought as a child: but when I became a man, I put away childish things. 1 Cor 13'Childish things' in this context refers largely to the level of political discussion about the fall elections that is going around these days, although the behaviour of the US financial system and our government is a close second.
(Before the usual wiseguys chime in, this site is intended to include parody and exaggeration as comic relief and an instrument of satire, in addition to seriously dispassionate commentary, unlike the White house and the Congress and Keith Olbermann and Fox News. - Jesse)
Its all personalities, frivolities, simplistic slogans, appeals to the lowest common denominator, avoidance of the serious issues, and not so subtle propaganda. Its time to start acting like this country is in serious difficulty, and the decisions that we make could affect the world for a generation. We are at a crossroads, a moment in history, and we will now decide the fate of the legacy of freedom granted to us by the blood of our forefathers.
This thoughtful piece by Yves Smith expresses the concerns many have over the Treasury proposal fairly well.
Why You Should Hate the Treasury Bailout Proposal---> :supi:supi:supi unbedingt lesen :cool:cool:cool
One thing is of special concern if you think about it a bit. How could the Bush administration have had even the arrogance to put this clause in the draft in the first place? If you think this is some poor wording or just overreach by Henry Paulson you have not been paying attention to current events for the past eight years.
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.If this proposal passes, we need to vote out all Republicans and the Democratic leadership, and anyone who votes for this, in the November elections.
"When bad men combine, the good must associate; else they will fall one by one, an unpitied sacrifice in a contemptible struggle..."Time to step back, out of the day to day push and pull of arguments, fears, petty jealousy, prejudice, complacency, sloth, greed and envy. Time to take a stand, to do something. This applies equally to America and to the rest of the world.
As in past moments of history, ultimately there will be no bystanders.
Posted by Jesse at 2:30 PM
We Need This Money By The End Of The Week! Henry Paulson pt1
We Need This Money By The End Of The Week! Henry Paulson pt2
Financial crisis: Default by the US government is no longer unthinkable
By Liam Halligan
Last Updated: 11:48am BST 21/09/2008
Page 1 of 2
Have your say Read comments
So, here we are - the start of a new world order. After the tumultuous events of the last fortnight, the global economic landscape will never look the same again.
Hard times: central banks have acted to avoid a repeat of 1929
Power has tangibly shifted - away from the United States and the Western world generally, and towards the fast-growing giants of the East. That's been happening for some years now.
But September 2008 marks the moment when the scale of our excesses, the extent of our debts and the moral bankruptcy of our financial regulatory system finally began to be truly exposed.
I say began to be exposed. Back in March, Standard and Poor's, the US ratings agency, estimated some $285bn (£156bn) of mortgage-backed securities would eventually be written-off by the global banking sector. On Friday, almost unnoticed amid the panic, that forecast was upped to $378bn.
In reality, total credit losses will be much higher - at least $750bn in my view. But the extent of the 33 per cent one-off increase in S&P's estimate speaks volumes. It reflects just how little anyone truly knows about either the ultimate size of the sub-prime losses or who ultimately holds the related securities.....
full story: http://www.telegraph.co.uk/money/ma...1/ccliam121.xml
Goldman Sachs und Morgan Stanley werden normale Geschäftsbanken
Zäsur an der Wall Street: Die letzten beiden verbliebenen Investmentbanken Goldman Sachs und Morgan Stanley werden einfache Holding-Unternehmen - und damit der Aufsicht der US-Notenbank unterstellt. Beide Banken erhalten zudem Regierungskredite, um die Finanzkrise zu überstehen. mehr... [ Forum ]
.....Der bisherige Branchenführer Goldman Sachs und die Nummer zwei Morgan Stanley unterliegen künftig den Kontrollen, Regeln und Kapitalanforderungen, die auch für andere Banken gelten...... :rolleyes
.....na da wird doch sicher noch ein Hintertürchen offen sein - bei so vielen ex-GSlern die überall drin sitzen :o
U.S. Treasury Widens Scope of Plan to Buy Bad Debt (Update2)
By Dawn Kopecki
Sept. 21 (Bloomberg) -- The Bush administration widened the scope of its $700 billion plan to avert a financial meltdown by including assets other than mortgage-related securities.
The U.S. Treasury submitted revised guidance to Congress on its plan a day after first submitting it, as lawmakers and lobbyists push their own ideas. Officials now propose buying what they term troubled assets, without specifying the type, according to a document obtained by Bloomberg News and confirmed by a congressional aide.
The change suggests the inclusion of instruments such as car and student loans, credit-card debt and any other troubled asset. That may force an eventual increase in the size of the package as Democrats and Republicans in Congress negotiate the final legislation with the Bush administration, analysts said.
``The costs of the bailout will be significantly higher than originally considered or acknowledged,'' said Josh Rosner, an analyst with independent research firm Graham Fisher & Co. in New York. ``How, given these changes, can the administration and Federal Reserve believe they are being forthright in their unrevised expectation of future losses?''
full story: http://www.bloomberg.com/apps/news?...g&refer=economy
Das Casino USA ist pleite. Nun sollen die Steuerzahler dieser Welt dafür gerade stehen. Die asiatischen Länder, welche auf illiquiden riesigen Beständen von Dollars sitzen müssten sich eigentlich fragen, ob sie den USA die Kriege in Irak und Afghanistan weiter finanzieren wollen? Die Russen haben schon vor mehren Monaten angefangen, Dollars zu verkaufen...nur die kleine Schweiz gibt der grossen Imperialmacht Unterstützung, mit dem Fazit dass die Nationalbank unnötig riesige Verluste schreibt. Nach den Goldverkäufen zu Unzeit wird weiter Tafelsilber verschleudert.
Kommentar aus der NZZ 22.09-2008
letter to ZDF Studio Washington, att. Klaus Siegloch
Lunar, eine gestrige Ansicht auf dem thread von Salazie,
post #14 – es fehlen einem wirklich die Worte ...
Washington Watcher pls be aware ! – "the tempest"
Wir vermissen die nachhaltige surveillance Ihres threads,
bitte klären Sie das deutsche Publikum über die aktuellen
Entwicklungen und das "sentiment" der amerikanischen
Bevölkerung auf, welche zur Zeit von einer historischen
Vereinnahmung des Staates und seiner profiteers bedroht
ist, die mit der Zeit vor dem II. Weltkrieg in Deutschland
zu vergleichen ist.
Dass nun noch die "EZB" für die faschistoide Machtpolitik
einer von "wallstreet" verursachten Krise zur Kasse gebeten
wird – 3 stellige Milliarden Beträge sind bereits geflossen –
ist ein starkes Stück "Verschiebung" von Verantwortlichkeiten.
Es is zu vermuten, dass Washington mit Kalkül an der Grenze
zum finanziellen Desaster balanciert, um einem aufgeschrecktem
Publikum jede noch so perfide Massnahme verkaufen zu können.
Diese Taktik errinnert an die unter dem Begriff des "war on terror"
errichteten "acts" zur Freiheitsbeschränkung und Denunzierung
von nicht passenden Minderheiten oder Gruppen, die das System
Ein Ost-West Gefälle der "Instrumente" ist somit nicht mehr
gegeben, welcome to «the brave new world» !
Breite Bereiche der Medien scheinen einer Gleichschaltung zu
unterliegen, die "NZZ" vielleicht zur Zeit eines der extremsten
Beispiele, eine Form von "procon" Propaganda in ihrer politischen
Berichterstattung zu implementieren.
Leser-Kommentare, die das ganze "Gefüge" kritisch beurteilen,
werden von den online Foren "entfernt" – es ist unsäglich, was
zur Zeit veranstaltet wird.
@Silverbay - lies diesen Artikel von #768
Why You Should Hate the Treasury Bailout Proposal
....das Volk wird so verscheissert :bad es ist kaum zu glauben, dass es da nicht eimal kracht :rolleyes
...mein (zugegeben etwas kitschiger ;)) Wunsch PMs to da mooooon :D
Pushed into a corner
-> Posted by sckpak @ 8:10 am on September 22, 2008
The best solution(s) to any problem(s) never come as a result of looking down the barrel of a gun. The correct solution is typically the one that is selected or combined from a number of different proposals tendered. Just because the Fed, the Treasury, and others with a bias toward the banking sector get together and propose a solution does not make it the correct solution if not all voices are heard. There are many individuals throughout the country who are “not connected” that likely have a better solution than what is being shoved down taxpayers throats at this time - they should be given time to present their proposals to solve the problem(s).
This current approach is a very old tactic of international bankers and politicians - PROBLEM/REACTION/SOLUTION. They create, are the cause of the problem, they wait for public reaction that something be done, and they then walk in to the front of the line with their solution. What we are witnessing is planned choas in order to consolidate their power and control. This method is not reflective of a true Republic where the voices of all are heard in order to arrive at the best solution.
Politicians in Washington need to be informed that they will remain in Washington until others can be heard and this matter is resolved - campaigning for re-election is non on hold. The Fed, Treasury, and all the other special interest groups must be told that their proposal will be considered - with others - but until such time that more alternative solutions are on the table they need to simply back off.
Merci für den Bericht,
p.s. Edelmetalle bald
wieder 4-stellig ... ?
Calling Paulson's Bluff
Treasury Secretary Hank Paulson spent the past two weeks playing a game of chicken with firms like Lehman Brothers and A.I.G. Now he is playing even higher-stakes chicken with Congress and the economy.
Paulson's storyline is that the credit markets are frozen, and unless Congress passes a "clean bill" -- his way -- disaster lies ahead. He spent a busy Sunday morning on the talk shows ducking questions on what would happen if Congress didn't act -- and what might still happen if it did.
One senior Congressional Democrat told me, "They have a gun to our heads." Paulson behaved as if he held all the cards, but in fact the Democrats have a lot of cards, too. The question is whether they have the nerve to challenge major flaws in Paulson's plan as a condition of enacting it.......
.....Paulson's bill would give him carte blanche to spend up to $700 billion over the next 24 months to buy toxic securities from financial firms. This presumably would "unclog" capital markets, the financial economy would begin functioning normally again, and then the government would recoup what it could. The plan is outrageous on several levels. It demands nothing from these firms in return. It holds the Treasury Secretary accountable to no one. And it extends the most generous terms to Wall Street while offering nothing to Main Street.....
full tory: http://www.huffingtonpost.com/rober...f_b_128075.html
....Paulson - Paulson über alles :bad wann werden die denn mal wach :mad
22 September 2008
TDAmeritrade Freezing All Reserve Money Market Funds Including "Treasury Funds?"
Read from a usually responsible poster on a financial web site here. here.
Most of my swept cash at TDAMeritrade has been frozen, and removed from funds available for trading.
How can a Treasury fund have any exposure to Lehman?? Then why would they freeze it and put it under review???
Someone has suggested that this is because of 'heavy redemptions' and/or a mutual support agreements among fund families.
We'd like to believe that this will turn out to be a mere inconvenience and will probably work out all right in the end.
But the more general lesson here perhaps is that you might think you own Treasuries, gold, silver, oil, forex or whatever through a fund, but at the end of the day you own the fund, and have only a claim on the asset or instrument of your intentions itself.
Posted by Jesse at 11:27 AM
:rolleyes wird ja immer schlimmer :mad
Unintended Consequence: the US Finally Gets a Decent Soccer Team
The Manchester United football team is sponsored by AIG, and have the letters AIG across the chest of their jerseys.
Now that AIG has been acquired by the government, the Treasury intends to replace the "AIG" designation with "USA" and the appropriate logo changes.
The use of the term "football" which is the exclusive property of the NFL is going be replaced with the more descriptive term "soccer" to avoid confusion in the target audience, the American public.
As the Dollar will be the exclusive currency accepted within the stadium, a special facility has been created to build bureaux de change at the entrances. Barclays is said to be bidding for the exclusive operating rights.
The European Union is expected to support these modifications at the request of the Treasury.
The NY Fed is considering rules changes to make the games more exciting.
Hank Paulson has hired Morgan Stanley to assess the sponsors of some of the better German and Italian clubs to see if Wall Street's expansions plans to dominate the soccer world are feasible.
The SEC, having misplaced its traditional charter, has proposed to be renamed the Sports Expropriation Commission. Their first task will be to determine what the Chinese do with their leisure time in addition to gymnastics, mahjong, and eating remarkably unusual items.
Posted by Jesse at 10:16 AM :supi:hihi
GS....and the incest relationship with the Treasury....
hmmm.....und diese Worte bei CNBC im Zusammenhang mit dieser ganzen Finanzmisere und der Umwandlung zu einer "normalen" Bank :eek:eek:eek
na ja :rolleyes
SNL rips into McSame's use of lying/misleading ads --
Paulson Says Several Countries May Adopt Bank Rescue Plans
(Bloomberg) -- Treasury Secretary Henry Paulson said he's confident several countries will take steps comparable to the $700 billion plan he proposed to buy bad mortgage-related securities to address the global financial crisis. ``We are talking very aggressively with other countries around the world and encouraging them to do similar things, and I believe a number of them will,'' Paulson said on ABC News' ``This Week'' program.The criminals at the heart of this mess, represented by Paulson who used to run Goldman Sachs, are all desperate to pull the same scam as our elites are pulling on the American people. I see NO ONE in Europe or Asia demanding their governments bail out the bankers! Not even in Switzerland, headquarters of all gnomes! (....na hoffentlich bleibt's bei ...not even Switzerland :rolleyes)
No, the people clamoring for this and pressuring the flaccid politicians to do this are all the ruling elites. They had a panicky secret enclave meeting in DC this spring to talk about how to engineer herding us all into saving THEM by saddling us with all the bad deals they made with each other. This high-level Illuminati meeting of the Bilderberger coven was not covered by the NYT, for example, even though the Times knew about it...the owners were there! Ditto, the owners and top editor of the Washington Post!.....
#750 - nochmal ein paar Zeilen auf Deutsch ;)
...meint Autorin Ellen Brown: „Nun verkündet das FED, dass es American International Group (AIG), dem weltweit grössten Versicherer, ein Darlehen von 85 Milliarden Dollar gewährt und als Gegenwert beinahe 80 % der Aktien des Versicherers übernimmt… Das FED kauft also eine Versicherungsgesellschaft? Das FED hat die Macht, über die nationale Geldversorgung zu entscheiden, ist jedoch nicht Teil der US-Regierung. Es ist eine private Bankinstitution, die einem Konsortium von Privatbanken gehört. Die Bankindustrie kaufte also soeben den weltweit grössten Versicherer auf und verwendet dazu Bundesgelder". :gruebel:rolleyes
...die Rache der HedgeFunds :confused:rolleyes:o:hihi
... schlagendes Argument !
@Silverbay - könnte sein, ist es aber wohl nicht, scheinen roll-over Geschichten zu sein und Art Cashin sagte was von physical delivery :o das wäre natürlich :bang besonders wenn es auf den PM-Markt übergriffe :cool
aber lieber nicht zu früh freuen - sonst kommt der obligate :hammer :rolleyes
The End of an Era …….
-> Posted by strikerrod @ 15:18 pm on September 22, 2008
** The End of an Era on Wall Street
– by Michael Lombardi, CFP, MBA
An era came to an end last night, as Goldman Sachs and Morgan
Stanley threw in their towels and asked the Federal Reserve to
recognize them as banks. The investment bank boom on Wall
Street that was led by Bear Sterns, Merrill Lynch, Lehman
Brothers, Goldman Sachs and Morgan Stanley has come to an
Bear Stearns was rescued, while Lehman closed its doors. Merrill
Lynch was bought out by Bank of America; Goldman Sachs and
Morgan Stanley will become regular banks (unless someone buys
them out, too).
What’s the difference between an investment bank and regular
bank? An investment bank takes borrowed capital and uses it for
its investing activities with very little regulation between what it
borrows and what it invests. For example, Morgan Stanley held
$20.00 in assets for every $1.00 of shareholder equity.
Banks are highly regulated (compared to investment banks) by the
Fed and can only lend out a percentage of the deposits they have
on hand from customers. Goldman and Morgan Stanley will now
need to build their deposit base so they can rely on their deposits
from customers instead of using borrowed money.
Goldman and Morgan Stanley are basically going to deposit
banking (using regulated deposits of customers) from investment
banking (using borrowed money to invest). Goldman and Morgan
Stanley already had more than $20.0 billion each in customer
deposits at the end of the second quarter.
What does this all mean for investors like you and me?
Firstly, investment banks are wiped out…gone. And so are the big
bonuses on Wall Street. Jobs will be lost. The 25,000 job losses at
Lehman were just the beginning. Expect to see 100,000 white
collar jobs gone from Wall Street. And all those real estate gurus
(including Donald Trump) who told us New York real estate was
immune to a slump are in for a rude awakening.
The days of the highly leveraged buyouts, financed by investment
banks, are gone…which is a good thing for investors. Maybe we
can all start investing again in companies that actually produce a
product or sell a service. Personally, I believe the withdrawal of
the investment banks makes it safer for investors…somewhat of a
regression to the mean.
As for the stock market, it likes what the Fed and Secretary of the
Treasury are doing for investors. I was around in the days of the
Resolution Trust Corporation (it was set up for the assets of the
savings and loans crisis) and it was a great idea. The Fed is
basically doing the same thing again, only this time with troubled
The stock market continues to be very resilient. As soon as the
Dow Jones Industrial Average got down below its July low, it
rallied a good 700 points. Trading over the next few days and
weeks will be very important for overall direction. I’ll keep you
22 September 2008
NYMEX Oil Trading Halted at $116 as Crude Goes "Limit Up," Reopens and Rockets to $130 in Ten Minutes
Time for a 'no buy' zone?
After the "limit up" trading halt oil trading reopened and is now $130 four minutes before the close. This was in the October contract which was set to expire. The new front month is November. There was an obvious short squeeze occurring in the near month.
Part of the reason for this is obviously dollar weakness. The DX index is now testing the 76 area. Also since the hedges cannot short financials, they need some way to arb the Treasury recklessness, so they appear to be running into harder currencies and commodities.
Just peeled off some of the oil trade positions we put on for ourselves yesterday as a contra dollar play. We're keeping the high yield oil stocks/trust because this seems to be more than just a technical trade with almost all commodities rising in concert.
Oil spikes $25 a barrel on anxiety over US bailout.....
full Story: http://jessescrossroadscafe.blogspot.com/
CS-Kunden fühlen sich betrogen
Von Bruno Schletti. // Aktualisiert vor 24 Minuten 1 Kommentar
Zuerst empfahl die Credit Suisse kapitalgeschützte Lehman-Produkte. Nach dem Kollaps der US-Bank lehnt die CS jede Haftung ab. Doch die Kunden wehren sich.
Auszug aus einem CS-Mail.
Von ihrer Bank im Stich gelassen, melden sich zahlreiche Kunden der Credit Suisse bei der Redaktion des «Tages-Anzeigers». Sie alle sind mit der Tatsache konfrontiert, im Zusammenhang mit der Lehman-Pleite einen Teil ihres Vermögens zu verlieren. Die meisten sind fassungslos, viele auch verbittert über ihre Hausbank.
Unter ihnen sind Kleinsparer und Leute aus dem Mittelstand. Gemeinsam ist ihnen, dass sie auf Drängen ihrer CS-Berater Geld in kapitalgeschützte Produkte von Lehman Brothers steckten. Nach der Pleite von Lehman müssen sie mit einem Totalverlust ihrer Investition rechnen. In den meisten Fällen sind es fünf- bis sechsstellige Beträge, oft grosse Anteile des jeweiligen Gesamtvermögens.
Auffallend ist, dass sich nur Kunden der Credit Suisse melden, obwohl auch andere Banken Lehman-Produkte verkauft haben. Einiges deutet darauf hin, dass die CS diese Produkte aggressiver vermarktet hat als die Konkurrenz.
Die Angaben der düpierten Anleger gleichen sich wie ein Ei dem andern. Alle sind Laien in Finanzfragen. Deshalb kam keiner von sich aus auf die Idee, die komplex strukturierten Produkte zu kaufen. Alle wurden vom jeweiligen CS-Berater angegangen und – so die Kunden der Grossbank – zum Kauf gedrängt. Weil sie vom Geldanlegen wenig verstehen, vertrauten sie den Beratern, vor allem deren Beteuerungen, die Investition sei zu hundert Prozent kapitalgeschützt.....
ganzer Artikel: http://www.tagesanzeiger.ch/wirtsch.../story/12053909
In den Staaten hat die CS brav zurückgezahlt und eine Busse bezahlt. Das kann hier ja nicht passieren. Willkommen im Heuschreckenkapitalismus. Die Kleinanleger sind die gleichen Wähler, die Wahljahr für Wahljahr das Thema Konsumentenschutz nicht berücksichtigen - wir haben hier nähmlich den schlechtesten in ganz Westeuropa.
...also wie gehabt - die Kleinen schlägt man den Grossen kriecht man in den Ar*** :rolleyes und wählen nicht vergessen ;)
Putin calls for changing the architecture of the international financial system
SOCHI, September 20 (Itar-Tass) -- Prime Minister Vladimir Putin called for changing the architecture of the international financial system.
“We all need to think about changing the architecture of international finances and diversifying risks. The whole world economy cannot depend on one money-printing machine,” Putin said at the final press conference after a meeting of the Russian-French bilateral commission on cooperation in Sochi on Saturday......
full story: http://www.itar-tass.com/eng/level2...94201&PageNum=0
The whole world economy cannot depend on one money-printing machine :o ...bin ja kein ausgesprochener PutinAnhänger, aber vielleicht könnte er ja was in Bewegung bringen :rolleyes:confused
....na ja wie CNBC sagte - incest :bad
:kotzGoldman Sachs and Morgan Stanley May Be Primary Beneficiaries of the Bailout
The Bailout Program as it is currently proposed by the Treasury may not be much more than a windfall profits package for a few Wall Street investment banks such as Morgan Stanley and Goldman Sachs.
One of the most significant obstacles to the financial markets is the lack of transparency, confidence and trust. One of the ways to restore trust is to stop lying, show your cards, take the losses, and then move forward with an honest game.
The government would be doing the markets a favor if they forced the banks and especially the newly formed bank holding companies to show their positions, open their books, to stop allowing them to game the system and make profits through practicing deception and the manipulation of markets and information.
Paulson Debt Plan May Benefit Mostly Goldman, Morgan
By Jody Shenn
Sept. 22 (Bloomberg) -- Goldman Sachs Group Inc. and Morgan Stanley may be among the biggest beneficiaries of the $700 billion U.S. plan to buy assets from financial companies while many banks see limited aid, according to Bank of America Corp.
''Its benefits, in its current form, will be largely limited to investment banks and other banks that have aggressively written down the value of their holdings and have already recognized the attendant capital impairment,'' Jeffrey Rosenberg, Bank of America's head of credit strategy research, wrote in a report today, without identifying particular investment banks.....
full story: http://jessescrossroadscafe.blogspo...tanley-are.html
:bad * :bad * :bad * :bad * :bad
Mon 22 Sep 2008
Too Big To Short? SEC Bans More Short Selling
Posted by alyx under fail
This morning, the SEC added a few love-to-hate names to the list of stocks for which short selling is banned. Notably, it includes bank-posing-as-an-electric-company GE, also the parent company of CNBC and manufacturer of the occasional lightbulb; it also includes GM, whom I would call a bank-posing-as-a-car-company if they were any better at the whole car company thing.
in the middle of this turmoil - 2 o'clock in the morning...what ordered Bernanke as a snack :confused (solche Fragen beschäftigen CNBC)
...wie wäre es mit einer geladenen Dosis Schlaftabletten für ihn und Herrn Paulson - vielleicht wäre der Schaden einzudämmen :gomad
Urgent call for bailout
-> Posted by FTS @ 8:20 am on September 23, 2008
Congress will argue about it until the markets force them to agree, I’m thinking. I’d be amazed if they get it done before the market forces their hand.
:dumm:dumm:dumm nicht zu fassen für wie blöd dir Leute verkauft werden :mad
Time Covers Wall Street
1972 1990 :kotz 1999 ....könnten sich Geld sparen und mit leichten Veränderungen die gleichen Titel verwenden :rolleyes
American Dollar = Toilet Paper, Financial Armageddon Crisis
|Aktuelle Uhrzeit 17:56|
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