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lunar 14.09.2008 20:39


Silverbay 14.09.2008 20:59

Leemanns' Schlagseite
Alles poker bluff ?

anzunehmen, dass am Ende, kurz vor filing,
die "Lehmen" einem von JP Morgan oder
gleich GS "attestiertem" Angebot zustimmen

Garantien, wie gehabt, durch das FED, und Paulson
mit der "aufgesetzten Miene" eines ehren- und
verantwortungsvollen Schlichters.

An der bankrupcty des Institutes hängen
zuviele in der Badewanne, die mit " Lehman "
"ausgeschüttet" würde ...

Schlägt der sonntägliche deal dennoch fehl
wir beten natürlich für Euch korrupten, in den
letzten Jahren mehrfach zu Strafen verurteilten
– sehen wir sicher eine "fünf" vor
dem morgentlichen tickerindex der Citigroup.

:ente « duaks »

lunar 14.09.2008 21:00


Silverbay 14.09.2008 21:31

« Lehman: insolvency looms »

Robert Peston
14 Sep 08, 08:07 PM

"... Preparations have been made for «Lehman Brothers»,
the substantial US investment bank, to obtain protection
from its creditors under « US Chapter 11 insolvency »

Nun liegen 2 und eine halbe Milliarde auf dem table, und
Lehman ziert sich weiterhin ...

... wäre interessant, unter dem Tisch zu "lauschen".

lunar 15.09.2008 08:13

Registered User

Originally Posted by kiwi_envoy

Any idea what this means in English??

15 Sep 2008 01:41 GMT
BULLET: FED announces several measures to support mkts,......
FED announces several measures to support mkts, including broadened
collateral for PDCF lending, expanding collateral for TSLF lending,
weekly sked II TSLF auctions instead of biweekly, and increased TSLF
lending up to $200 billion instead of $175 billion.

Provided by: Market News International

I think it means their giving away our kids inheritance.

lunar 15.09.2008 08:16

Spun Green II
Registered User

Originally Posted by Matt-themaddog-Dollar
If Lehman is just in Chapter 11, then it'll just restructure, give what it can to its creditors and then continue operating. This is probably not the end of Lehman.

That may be, but even in chapter 11 its assets including CDOs will be liquidated forcing a mark to market upon all institutions holding the same CDOs ... or perhaps even similar CDOs. That is the great great Onion which they have sought to avoid at all costs. Perhaps those CDOs are mostly held in the subsidiaries which are not (yet) forced to admit to insolvency. If that is the case, the grind will continue. But if those CDOs are in the parent company, I think we'll have some fun.

lunar 15.09.2008 08:33


5 Alpenpässe wegen Schnee gesperrt 14.9.2008
In den Bergen hat es einen Vorgeschmack auf den Winter gegeben: Die fünf Alpenpässe Furka, Gotthard, Grimsel, Nufenen und Susten mussten wegen Schnees vorübergehend für den Verkehr gesperrt werden. :rolleyes


[BAC] Bank of America shares fall 14% in Frankfurt
3:10 AM ET, Sep 15, 2008

[LEH] Lehman shares trade at 57 cents in Frankfurt, down 84%
3:09 AM ET, Sep 15, 2008

[MER] Merrill Lynch shares climb 40% to $24.10 in Frankfurt
3:09 AM ET, Sep 15, 2008

[CS] Credit Suisse falls 5.2% in early action
3:08 AM ET, Sep 15, 2008

[UK:BARC, BCS] Barclays down 5.6% in early London trading
3:07 AM ET, Sep 15, 2008

[UBS] UBS shares slide 7%
3:07 AM ET, Sep 15, 2008

German DAX 30 index down 2.8% at 6,059.00
3:06 AM ET, Sep 15, 2008

[UK:HBOS] HBOS down 10.5% after Lehman fails
3:06 AM ET, Sep 15, 2008

lunar 15.09.2008 08:43

Lehman Brothers

4th largest investment bank - make an offer Item number: 110289318047Bidder or seller of this item? Sign in for your status Watch this item in My eBay

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:kopf Shipping costs: US $19.00 :hihi

lunar 15.09.2008 09:46

...flight to quality - government bonds :dumm

lunar 15.09.2008 10:15

The Spin

Friday, September 12 2008 @ 07:39 EDT

Contributed by: Invictus

Views: 18,046

(H/T Judy. Thanks.)

Black teen pregnancies? A 'crisis' in black America.
White teen pregnancies? A 'blessed event.'

If you grow up in Hawaii you're 'exotic.'
Grow up in Alaska eating mooseburgers, you're the quintessential 'American story.'

Similarly, if you name your kid Barack you're 'unpatriotic.'
Name your kids Trig and Track, you're 'colorful.'

If you're a Democrat and you make a VP pick without fully vetting the individual you're 'reckless.'
A Republican who doesn't fully vet is a 'maverick.'

If you spend 3 years as a community organizer growing your organization from a staff of 1 to 13 and your budget from $70,000 to $400,000, then become the first black President of the Harvard Law Review,create a voter regstration drive that registers 150,000 new African Amerian voters, spend 12 years as a Constitutional Law professor,then spend nearly 8 more years as a State Senator representing a district with over 750,000 people, becoming chairman of the state Senate's Health and Human Services committee, then spend nearly 4 years in the United States Senate representing a state of nearly 13 million people, sponsoring 131 bills and serving on the Foreign Affairs, Environment and Public Works and Veteran's Affairs committees, you are woefully inexperienced.
If you spend 4 years on the city council and 6 years as the mayor of a town with less than 7,000 people, then spend 20 months as the governor of a state with 650,000 people, you've got the most executive experience of anyone on either ticket, are the Commander in Chief of the Alaska military and are well qualified to lead the nation should you be called upon to do so because your state is the closest state to Russia.

If you are a Demoratic male candidate who is popular with millions of people you are an 'arrogant celebrity'.
If you are a popular Republican female candidate you are 'energizing the base'.

If you are a younger male candidate who thinks for himself and makes his own decisions you are 'presumptuous'.
If you are an older male candidate who makes last minute decisions you refuse to explain, you are a 'shoot from the hip' maverick.

If you are a candidate with a Harvard law degree you are 'an elitist 'out of touch' with the real America.
If you are a legacy (dad and granddad were admirals) graduate of Annapolis, with multiple disciplinary infractions you are a hero.

If you manage a multi-million dollar nationwide campaign, you are an 'empty suit'.
If you are a part time mayor of a town of 7000 people, you are an 'experienced executive'.

If you go to a south side Chicago church, your beliefs are 'extremist'.
If you believe in creationism and don't believe gobal warming is man made, you are 'strongly principled'.

If you cheated on your first wife with a rich heiress, and left your disfigured wife and married the heiress the next month, you're a Christian.
If you have been married to the same woman for 19 years with whom you are raising two beautiful daughters you're 'risky'.

If you're a black single mother of 4 who waits for 22 hours after her water breaks to seek medical attention, you're an irresponsible parent, endangering the life of your unborn child.
But if you're a white married mother who waits 22 hours, you're spunky.

If you're a 13-year-old Chelsea Clinton, the right-wing press calls you 'First dog.'
If you're a 17-year old pregnant unwed daughter of a Republican, the right-wing press calls you 'beautiful' and 'courageous.'

If you kill an endangered species, you're an excellent hunter.
If you have an abortion you're not a christian, you're a murderer ( forget about if it happened while being date raped)

If you teach abstinence only in sex education, you get teen parents.
If you teach responsible age appropriate sex education, including the proper use of birth control, you are eroding the fiber of society.

lunar 15.09.2008 11:10




Posted: 4:02 am
September 15, 2008
While Lehman Brothers' descent into bankruptcy sent fear rippling through the global financial system, its demise nevertheless offers opportunities for vulture investors looking for distressed assets.

Among the private-equity firms that are poised to pick Lehman's carcass are Kohlberg Kravis Roberts & Co., J.C. Flowers & Co., Hellman & Friedman, Bain Capital and Clayton Dublilier & Rice - all of which had been in the running last week to buy some or all of Lehman.

Also likely to pick up some pieces of Lehman's distressed assets are TPG Capital, the Carlyle Group and Steve Schwarzman's Blackstone Group.

Flowers is expected to be particularly aggressive as he is backed by $4 billion in financing from China Investment Corp. - a Chinese sovereign wealth fund. CIC and Flowers had been in discussions with Lehman before talks broke down as CIC had wanted to buy Lehman's securities for pennies on the dollar.....

lunar 15.09.2008 11:19

3 Anhang/Anhänge
:bad mieser die Lage - desto höher der $ - desto tiefer das Gold :bad

:bad mehre Hurrikanes - desto tiefer das Öl :bad

lunar 15.09.2008 11:28

merci @matthiasch - GoldseitenForum :verbeug

Aus Kapitalschutz-Akte von heute:

Höchst interessant auch, dass am Mittwoch ein Plan des texanischen
Mitglieds des Repräsentantenhauses Ted Poe (ehemaliger Richter) bekannt
wurde, der zur Stabilisierung der US-Währung die gezielte
Goldpreisdrückung durch die Fed bis auf 500 Dollar vorsieht. Zum
Erreichen dieses Zweckes solle die Fed via Verkauf von
US-Staatsanleihen die monetäre Basis gezielt austrocknen. Anschließend
solle der Goldpreis bei exakt 500 Dollar eingefroren werden.

Jetzt googlet mal danach, u.a. findet ihr Folgendes:…

Wenn das stimmen sollte, wären die Kursentwicklungen nur zu klar...
ist ja wieder ein lächerlicher Tag! Gold und Silber mit minimalem Plus,
heute Mittag EM zu 100% im Minus, passt auf...

lunar 15.09.2008 12:24


FTD: Gläubiger kämpfen um Lehman-Vermögen

15.09.2008 - 12:47 Die Pleite der Investmentbank Lehman Brothers zieht weitreichende Konsequenzen nach sich: Vermögenswerte in Milliardenhöhe müssen an die Gläubiger verteilt werden. Besonders betroffen sind die Citibank und New York Mellon. Auch für Deutschland hat das Konsequenzen.

Das Ende von Lehman Brothers ist eine Katastrophe für die Gläubiger. Nach dem Antrag auf Gläubigerschutz müssen 639 Mrd. $ an Vermögenswerten zugeordnet werden. Anwälte sprechen schon jetzt von einem zu erwartenden "Chaos".

"Das könnte einen Dominoeffekt auslösen. Gerade Unternehmen und Investoren, die ihre Finanzierung über Lehman geregelt haben, werden das zu spüren bekommen. Aus Sicht der US-Wirtschaft ist das besorgniserregend", sagte Charles Tatelbaum, Konkursanwalt in der Kanzlei Adorno & Yoss, der Nachrichtenagentur Bloomberg

Besonders Citibank und New York Mellon müssen zittern. Sie fungieren als Treuhändler für Anleihegläubiger. Laut dem Chapter-11-Antrag geht es dabei um ein Volumen von 138 Mrd. $. Größte Einzelgläubiger sind die japanische Aozora Bank mit einem Risiko von 463 Mio. $, die Mizuho Corporate Bank mit 382 Mio. $
und eine Citigroup-Tochter mit Sitz in Hongkong mit 275 Mio. $.

Brokerage-Kunden kommen gut weg

Als relativ gut abgesichert gelten die Kunden, die bei Lehman Brothers ein Wertpapierkonto haben. Sie fallen unter die SEC-Vorschriften zum Securities Investor Protection Corporation (SIPC). "Nach unserem Verständnis wird sich die SIPC um die Abwicklung der Broker-Dealer-Einheit kümmern. Die Brokerage-Kunden sollten den Großteil ihres Vermögens zurückerhalten", schrieben die Analysten von Creditsights in einem Researchbericht....

full story:

....jedenfalls sind die kleinen Aktionäre wie immer die Beschissenen :mad

lunar 15.09.2008 13:09

...von einem AmiBoard

America self-exploding itself 4 minutes ago The Iranians , Iraqis and all the middle east must be laughing at America right now.
America right now is crashing around itself bought on by its own people.

....wenn nicht der Rest der Welt auch leiden müsste - dann könnte man mal lachen :mad

lunar 15.09.2008 13:32

Nationalbank - die schweizerische Nationalbank macht den Hahnen auf, lässt die Schweizer Banken grosszügig an die Tränke! Am 18. September SNB-Meeting. Zinsen bleiben unverändert!

...damit die Amis was zu saufen haben :gomad:gomad:gomad

lunar 15.09.2008 14:22

Crooks In Action :o

lunar 15.09.2008 15:58

Zitat von syracus

Video mit interessantem Interview :rolleyes

GS for sale :confused:rolleyes - zu schön um wahr zu sein :o

lunar 15.09.2008 18:11

Derivatives Beast Devours All Major Investment Banks

September 16, 2008

Elaine Meinel Supkis

-The inevitable finally happened: a major investment bank has gone under. Destroyed by sea surges from Hurricane Greenspan. Lehman is dead and Merrill Lynch is part of the goofy bank called 'Bank of America'. The Derivatives Beast is now activated. With Bear Stearns, the Federal Reserve and the Treasury were able to prevent the credit default swaps from being activated. Now, they are unable to do this. $600+trillions of CDS deals are at stake now. They will be revealed as FRAUDS. The dollar is again, falling. And our trade partners are in hysterics. McCain's economic advisor claims that there is nothing wrong with anything. Except his brains.


Quit Doling Out That Bad-Economy Line
"It was the worst of times, and it was the worst of times." I imagine that's what Charles Dickens would conclude about the current condition of the U.S. economy, based on the relentless drumbeat of pessimism in the media and on the campaign trail. In the past two months, this newspaper alone has written no fewer than nine times, in news stories, columns and op-eds, that key elements of the economy are the worst they've been "since the Great Depression." That diagnosis has been applied twice to the housing "slump" and once to the housing "crisis," to the "severe" decline in home prices, to the "spike" in mortgage foreclosures, to the "change" in the mortgage market and the "turmoil" in debt markets, and to the "crisis" or "meltdown" in financial markets.

It's a virus -- and it's spreading. Do a Google News search for "since the Great Depression," and you come up with more than 4,500 examples of the phrase's use in just the past month.
Full disclosure: I'm an adviser to John McCain's campaign, though as far as I know, the senator has never taken one word of my advice. He's been sounding a little pessimistic on the economy of late, too. And to be fair, he isn't immune to the Depression-exaggeration virus, either.

Question #1 is, why does the senile old dog even have this utter idiot on his staff? If he doesn't listen to this bizarre, insane man, that is a good thing. But why hire him to infest McCain's staff with childish, utterly unbelievable economic advice? I must say that Luskin's personal bubble must be made of the most powerful materials. Even economic bunker buster bombs don't trouble him. His editorial of denial come on the most appropriate day!

This also reveals how clueless Washington, DC has been lately. Of course, the Senators are owned by the financiers. And their only response to 'Jump' is to say, 'How high?' The collapse of our entire banking system is very intimately related to how corrupt and venal Washington, DC politicos are. The fundamental basis for the global banking collapse is simple: the US government has refused to defend US economic borders. And has misspent money on running a global empire we can ill afford. Fixing this means cleaning out Washington, DC. There is no way we can paper over massive, persistent and continuous deficits in every level of our economic systems! Anyone suggesting the present status quo can continue is insane....


lunar 15.09.2008 19:49

Philin Good

I thought some humor is in place. I like Greenspans humor very much, especially when he talks about recession:

Maybe you dont think its funny, then I apologize.

US facing once-in-a-century financial crisis: Greenspan

Posted Mon Sep 15, 2008 9:41am AEST

The United States is mired in a "once-in-a century" financial crisis which is now more than likely to spark a recession, former Federal Reserve chief Alan Greenspan says.

The talismanic former central banker says the crisis is the worst he has seen in his career and it still has a long way to go and will continue to effect home prices in the US.

"First of all, let's recognise that this is a once-in-a-half-century, probably once-in-a-century type of event," Mr Greenspan said.

Asked whether the crisis, which has seen the US Government step in to bail out mortgage giants Freddie Mac and Fannie Mae, is the worst of his career, Mr Greenspan replied "Oh, by far."

"There's no question that this is in the process of outstripping anything I've seen and it still is not resolved and it still has a way to go," he said.

"And indeed, it will continue to be a corrosive force until the price of homes in the United States stabilises.

"That will induce a series of events around the globe which will stabilise the system."

Mr Greenspan was also asked whether the US has a greater-than 50 per cent chance of escaping a recession.

"No, I think it's less than 50 per cent," he replied.

"I can't believe we could have a once-in-a-century type of financial crisis without a significant impact on the real economy globally, and I think that indeed is what is in the process of occurring."

Mr Greenspan also predicts the financial crisis will see the failure of more major financial institutions, even as embattled Wall Street investment giant Lehman Brothers scrambles to find a buyer.


lunar 15.09.2008 20:37

Underperforming Banks and Thrifts Most Likely to Fail, ex-Bailouts

CyclePro has updated his list of banks and thrifts which he feels are most likely to fail. You can view his methodology here: CyclePro

The inclusion of Bank of America and Goldman Sachs among the big banks is surely a gutsy call. But remember this list is ex-bailouts and Federal support. Both banks seem to have reserved place settings at the public trough.

His analysis is always interesting, but alas like most good things infrequently available. We have it among the links on this site's sidebar.

His blog is worth watching, and scrolling down through prior posts to see some of the gems there. We have referenced his long term chart and analysis of the deflated DJIA before. Its a pretty grim picture.

Posted by Jesse at 10:39 AM

lunar 15.09.2008 20:41

15 September 2008

NY Fed Hires Morgan Stanley to Evaluate AIG Alternatives. But What About Goldman?

Is the NY Fed going to hire Morgan Stanley to develop solvency options for Goldman Sachs whe its day of reckoning arrives?

You could put those meetings on Pay-Per-View for the investment community.

Ok, Floyd, er Lloyd and you too Dave, let's see your books, chop chop. Oh yeah and top off my Chivas would'ya? We've got a VIP table reserved at Scores for a conference tonight and YOU'RE paying for it. Oh yeah and we need a list of the recent comps for your traders too. We're drawing up a short list for some special overseas clients.

We'd suggest it take place at Madison Square Garden, in a cage match.....

PIMCO, Vanguard and Japanese Banks Face Billions in Losses on Lehman Bonds

Many firms are holding hurried meetings today over these losses, to assess the impacts with respoect to money market funds, mutual funds, and pension plans. Legg Mason, Fidelity, Axa SA, Franklin Advisers, Vanguard and Pimco are among the largest stakholders.

This is minor compared to what some other failures might look like such as Goldman, Morgan Stanley, AIG, or a major bank like Washington Mutual and Wachovia.

The thing about commercial banks is that there is a well established mechanism for sweeping them into the money bin as long as the dollar and Treasury bonds hold up. Not so for insurance companies and investment banks, which are messy.

Interesting as well that it was Lehman and Bear that took it in the necks, as they were the two big bond houses.

If it is true that they are allowing banks to use depositor's funds to recapitalize their investment activities, then we have come full circle back to 1929 and all that implies.......

Wall Street Journal
Several Japanese Banks Are Top Lenders to Lehman
September 15, 2008 11:29 a.m.

TOKYO -- Several Japanese banks -- flush with cash and relatively unscathed by the global credit crisis -- are among the top bank lenders to Lehman Brothers Holding Inc., which filed for bankruptcy protection on Monday with $613 billion in debt.....

The Carry Trade Currencies

From Chris Gaffney in The Daily Pfennig:
The best performers over the weekend were the Japanese yen and Swiss franc, both traditional funding currencies of the carry trade. As Chuck [Butler] has explained several times in the past, when market volatility increases, traders typically start to exit the carry trades which are only profitable during times of relative calm in the markets.

The reversal of the carry trades means investors sell the emerging markets and high yield currencies and use the funds to pay down loans which they had taken out in the low yielding 'funding' currencies of Japanese yen and Swiss francs. The Japanese yen strengthened as much as 3.4% vs. the US dollar overnight, and the Swiss franc had the biggest one day gain in six months.
We think that gold is also being used as a carry trade 'currency' as well, as the central banks lease their gold bullion cheaply to the commercial banks, similar to the low interest rates carried by the yen and Swiss franc.

The gold is sold off, probably to the ETFs and the metals markets, and is largely not returnable to the central banks in many cases. This is one of the reasons why the gold price is becoming so volatile; the 'printing' of gold by central bank leasing does not really create anything, it only distorts the market longer term.

Some day that volatility may become breath-taking.

Chris Gaffney continues:
I have to say I am surprised Treasury Secretary Paulson stayed away from helping another bunch of his Wall Street buddies. I read where Paulson said Wall Street has been aware of Lehman's troubles for a long time and had time to prepare for any crisis at the company. I know we closed out all of our currency trades with Lehman a couple of months ago, and hopefully most other prudent companies did the same.

I hope this weekend's events are an indication that some sanity has returned to the Treasury department, and a line has been drawn after the widest expansion of federal safety nets to the financial system since the Great Depression. Its about time we quit guaranteeing the losses at these huge financial firms.
More likely Lehman was a token gesture to free markets as we had suggested last week it might very well be. Paulson and Company appear to be willing to do whatever it takes to control the situation and the markets, to 'inspire confidence' in the system, to feed the bull market in insensible complacency.

In the short term this is a viable strategy, but at the cost of a disabling of the free market system, and significant unintended consequences down the road.

We wish them well, but don't think they have the right motivation and character to achieve a sustainable solution hat would involve systemic reform. They are creatures of the status quo.

Posted by Jesse at 11:08 AM

lunar 15.09.2008 20:46


Wright (r.) bei Pink-Floyd-Konzert 2005 in London

Pink-Floyd-Musiker Richard Wright 65-jährig gestorben

Vor 3 Stunden

London (AFP) — Der britische Musiker und Mitbegründer der Rockband Pink Floyd, Richard Wright, ist tot. Der frühere Keyboarder und Sänger der legendären Band erlag im Alter von 65 Jahren einem kurzen, schweren Krebsleiden, wie sein Sprecher mitteilte. Der Pianist und Keyboarder Wright schrieb zahlreiche Hits von Pink Floyd und sang auf mehreren Alben, darunter "Dark Side of the Moon" von 1973. Zu den bekanntesten Kompositionen des Autodidakten zählt der Welthit "Wish you were Here".

"Die Familie von Richard Wright, Gründungsmitglied von Pink Floyd, gibt mit großer Trauer bekannt, dass Richard heute nach einem kurzen Kampf gegen den Krebs gestorben ist", sagte der Sprecher. Um welche Art von Krebs es sich handelte, sagte er nicht. Wright wurde am 28. Juli 1943 in London geboren. Er lernte Roger Waters und Nick Manson während des Architekturstudiums kennen und gründete mit ihnen die Band Sigma 6. 1965 benannten sie die Gruppe in Pink Floyd um.....

full story:

lunar 15.09.2008 21:02

Just 8 months ago LEH CEO got 41m bonus

-> Posted by onthebeach @ 15:45 pm on September 15, 2008
December 13, 2007
Lehman chief receives $41m share bonus
James Rossiter
Thousands of bankers at Goldman Sachs and Lehman Brothers will celebrate record bonus payments today, despite the global credit crunch.

Lehman kicked off the good cheer as it emerged that it had handed Richard Fuld, 61, its chief executive, a $41 million (£17 million) share award.

Goldman began to tell staff on both sides of the Atlantic yesterday of their share of what is expected to be an $18.8 billion pool – $2.3 billion more than last year’s annual awards. The payouts average $600,000 for each of its near30,000 staff worldwide.

Heads of investment banking at Goldman are each thought to have been awarded cash and share payments worth up to $10 million, level with last year’s bonus. Lloyd Blankfein, chairman and chief executive of Goldman, is thought to be on course for a 30 per cent rise in his pay package, to about $70 million. Hundreds of high-performing dealmakers in their twenties – those with vice-president ranking and about five years’ experience – collected cash payments of $500,000 each, according to sources.

:bad.....diese Drecksäcke trifft es nie :bad

lunar 15.09.2008 21:10

DJ Index Value: 10,917.51 Trade Time:4:05PM ET Change: 504.48 (4.42%)

...knapp 4,5 % ist ja nicht eben ein wash out :rolleyes

lunar 15.09.2008 21:56

For some reason this seemed appropriate today

posted by Jill ;)

Silverbay 15.09.2008 23:20

... schöne 'nachtgeschichte !



Tokio schlief wohl schlecht diese Nacht –
wegen des Vollmondes ?

lunar 16.09.2008 08:30

... schöne 'nachtgeschichte ! :sss
...trotzdem schlecht geschlafen :rolleyes:o;)

15 September 2008

AIG Cut Two Levels by Rating Agencies Precipitating Fresh Concerns

Duck and cover. Watch out for curveballs tomorrow.

We're seeing a lot of forced selling for liquidity. At some point it will abate, and we could see a spectacular turn in the markets. Whether it will stick is another matter altogether.

Stay frosty.

Rating agencies downgrade AIG, more cuts possible
Sep 15, 2008 10:29pm EDT

lunar 16.09.2008 08:45

...wenn es nicht so beschi**en wäre - man könnte lachen :gomad dachte diese Rules gäbe es schon lange :rolleyes scheint wieder mal nur für die Kleenen zu gelten, jedenfalls meine Bank kann/will das für mich nicht ausführen :bad (abgesehen davon, dass ich eh nie so was möchte :o)

SEC Preparing Rules Against Manipulative Short Sales (Update1)
By Jesse Westbrook and Edgar Ortega
Sept. 15 (Bloomberg) -- The U.S. Securities and Exchange Commission will likely stiffen rules targeting manipulative short selling after a stock-market rout triggered the bankruptcy of Lehman Brothers Holdings Inc., a person familiar with the matter said.

The SEC may strengthen rules this week by requiring brokers to deliver shares that have been sold short, according to the person, who declined to be identified because the plans aren't complete. The SEC also will consider it securities fraud when short sellers deceive brokers about their intention to deliver shares to buyers, the person said.....

.....Manipulative Concerns The changes the SEC may issue as early as this week target naked short-selling, in which traders never borrow shares. The agency is concerned manipulative investors may use the sales, which are legal in some circumstances :rolleyes, to drive down prices by flooding the market with orders to sell shares they don't have.....

full story:

....hier noch ein Kommentar von einem AmiBoard.

Spun Green II
This may, if it actually happens mark the turning-point for the xau/hui. I, personally have only sold my PM stock holdings for some months now because of the naked shorting issue. What may have caused this change of heart by the SEC?
Fear of jail terms for regulators? GS, probably the greatest naked shorter of all time, is now ready to go long the shares and doesn't want any hedge funds swimming the other way? Fan mail from some flounder? Inquiring minds want to know.

lunar 16.09.2008 08:48


Zitat von Hoka

Whitney On Wall Street's Future

Weighing in on Bank of America's latest deal and the future of Wall Street, with Meredith Whitney, Oppenheimer & Co. and CNBC's Maria Bartiromo.

lunar 16.09.2008 13:02

-> Posted by sckpak @ 6:28 am on September 16, 2008 :verbeug

Title: Crossing the Rubicon
by Dr. James Glenn | September 15, 2008


Comment: I couldn’t or wouldn’t have stated his presentation any differently. Free Market Capitalism has been overthrown by the Power Elites. Keep this in mind when you invest on their field with their rules.

As an additional thought with your cup of coffee this morning: In less than eight years, this Administration and the Congress has managed to increase the national debt by 90%. Requires a lot of US Dollars to buy votes and maintain an empire around the globe.

...einige Sätze vom "Rubicon" (...wenn doch nur die entsprechenden Personen drin untergehen würden :gomad)

"The last duty of a central banker is to tell the public the truth.":rolleyes
-- Alan Blinder, Vice Chairman of the Federal Reserve, on PBS’s Nightly Business Report in 1994.

The rhetoric flying from the lips of Paulson, Bernarke, and Bush over the last month would make even that hard bitten cynic P.T. Barnum (of “there’s a sucker born every minute”, fame) blush with embarrassment, and recoil with horror. They really must think we are all suckers.

How did the nation of “Free Market Capitalism” as touted by Kudlow daily on CNBC and The Wall Street Journal op ed page, get to the point where we privatize profits, and socialize losses?

How did we get to a point where thrift, saving and frugality are punished, and speculation, fraud, mismanagement, and bald faced lying are rewarded?

Greenspan after the “Crash of 87” discreetly formed what he euphemistically termed “The Working Group On Capital Markets”, better known to many as the Plunge Protection Team (PPT), ostensibly to prevent such a meltdown from happening again. This “working group” greatly expanded FED powers, essentially allowing them to buy or sell any markets, including stock, bond, and currency markets, in addition to performing their legislated duties of “managing” interest rates, and the money supply.. This was a bold, and surreptitious new collaboration between the FED, select financial intermediaries like :bad Goldman Sachs, and Morgan Stanley, the Treasury, and the Executive Branch.

As a reward for overseeing the biggest financial disaster in this nations history, Paulson has been given a blank check by Congress to do as he pleases. Greenspan, architect of the “wealth effect” designed to promote speculation, encourage fraud, and reward ineptitude in banking and brokerage, is living somewhere in a gated golfing community. That sop Bernarke, hasn’t even had his knuckles rapped by the idiots in the Senate and Congress responsible for Fed oversight. The heads of Fannie and Freddie are being “retired” with nary a hole in their golden parachutes totaling hundreds of millions. It is now official friends. There is no going back. The countries economy has been hijacked by the financial services industry.....

lunar 16.09.2008 13:39

US, European banks struggle to rescue :bad Goldman Sachs :bad by mergers

DEBKAfile Special Report

September 16, 2008, 11:02 AM (GMT+02:00)

Massive wave of job losses

Frantic efforts are underway to bring about the mergers of large, medium and small banks to avert the collapse of Goldman Sachs, after Lehman Brothers and Merrill Lynch sank. A British financial leader says West Europe is heading for deep recession.......

.......The Israeli government, whose prime minister is on the way out, has taken no action - hence the defense minister’s initiative.

Eyes now are on the American International Group Inc. (AIG) whose shares have plummeted 71 percent. More than 70 million people worldwide, their cars and businesses are insured with AIG, the world's largest insurer........

.......The bankrupt New York firm is a major player in Israel’s structured-products market and options market......

......As foreigners employed on Wall Street, Israelis are second only to Canadians..

full story:

....warum soll man den die schlimmsten Gauner retten :rolleyes:o ihre Gülle haben sie lukrativ weltweit verscherbelt :gomad
natürlich die "kleinen" Angestellten können einem leid tun - aber es geht ja in dieser Sparte allen gleich :rolleyes

lunar 16.09.2008 15:36

...von einem AmiBoard:

What started implosion of financials?
Eight years ago, Gramm, then a Republican senator chairing the Senate banking committee, slipped a 262-page bill into a gargantuan, must-pass spending measure. Gramm's legislation, written with the help of financial industry lobbyists, essentially removed newfangled financial products called swaps from any regulation. Credit default swaps are basically insurance policies that cover the losses on investments, and they have been at the heart of the subprime meltdown because they have enabled large financial institutions to turn risky loans into risky securities that could be packaged and sold to other institutions.
As Bloomberg reports this morning, the unregulated market for swaps is at the heart of the Lehman failure.
Who advises Mcclame? Why Phil Gramm of course.
Yep, 8 more years of these guys is what the country needs!

...wenn die Amis ihre Suppe selber auslöffeln müssten - vielleicht käme das Erwachen, aber so :rolleyes die ganze Welt löffelt die Brühe :mad same procedure as.....:bad

lunar 16.09.2008 16:17

...ziemlich duster bei mir :( leider nur noch träumen :rolleyes

lunar 16.09.2008 16:22


lunar 16.09.2008 20:47

Gartman on Goldbugs

-> Posted by whatsup @ 15:07 pm on September 16, 2008
As for the gold “bugs,” life has gotten miserable for them,

for they’ve never seen circumstances more bullish than

those of the present… and yet gold is weak and the other

precious metals are even weaker. The “bugs” will argue

that nefarious, governmental forces are at work,

collusively, to keep the price of gold very weak. We say

to the gold “bugs,’ “Yes, this is possible, but who cares?”

If governmental forces are collectively working to keep

the price of gold uneconomically low, then eventually they

will have to run for cover. This we consider inherently

de-stabilising if true, and wonder how it is that the “Bugs”

have been unable to disabuse the bears on gold. If

GATA’s “True Believers” had turned tail to the gold

market and has used their insights and collective maturity

toward gold, to instead work to cure cancer, or grant

hope to the suffering from some other serious affliction,

the world would be a far, far better place. Ah, but they



-> Posted by North @ 15:20 pm on September 16, 2008
WoW! I’m impressed. I never knew that Gartman was working on a cure for cancer and had alleviated a good deal of suffering all over the world. Maybe, I’ve had him wrong all these years.

North @ 15:20 re: gartmann

-> Posted by ipso_facto @ 15:35 pm on September 16, 2008
He should be working on a cure for senility because obviously that is his primary affliction!


lunar 16.09.2008 21:21


Morgan Stanley or Goldman Sachs - who goes bankrupt first?

August 19, 2008 · Filed Under Financial Crisis

We’ve all heard the of the financial escapades with Bear Stearns, Indy Mac and the Federal Reserve system. We all understand that the system is currently crippled and that there are more “dead banks” in the water. (You can read about “Vultures Circling the Fed” HERE)

So - with all that’s going on in the financial world - who’s going to drop first?

It is a forgone conclusion that SOMEBODY is going to drop. According to a Bloomberg report today, leading eoconomist Kenneth Rogoff stated, “We’re not just going to see mid-sized banks go under in the next few months, we’re going to see a whopper, we’re going to see a big one - one of the big investment banks or big banks.”......
Now, doesn’t that make you feel all warm and cuddly inside? I mean, how can ANY bank go under? Who’s money are they stealing anyway? (If you’re an American taxpayer, the answer to that question is - YOU!)

According to the Securities and Exchange Commission - Morgan Stanley and Goldman Sachs are in MAJOR TROUBLE.
The criteria used is called “Capital Multiple” - basically it is the total net capital divided by minimum capital requirement. When investors are given a choice, they should always use brokers that have higher capital multiple. The higher the capital multiple, the better off the financial institution is to withstand losses.

Here are 17 major brokerage firms and what their capital multiple looks like:

  • Edward Jones - 19.9
  • Bank of New York Mellon - 15.8
  • T.Rowe Price - 13.98
  • Scottrade - 13.86
  • OptionsXpress - 12.65
  • Raymond James - 11.92
  • Merrill Lynch - 8.62
  • Fidelity - 7.93
  • Bank of America Securities - 5.97
  • ING Direct - 5.85
  • Schwab - 5.85
  • Lehman Brothers - 5.43
  • E Trade - 5.00
  • TD Ameritrade - 4.72
  • Citi Smith Barney - 4.06
  • Goldman Sachs - 3.90
  • Morgan Stanley - 3.21
Now - I don’t know where you put your money, but if I were in your shoes - and I had money in either Goldman Sachs or Morgan Stanley (be it stocks or whatever) - I WOULD GET IT OUT RIGHT NOW!

...GS :rolleyes ob das Herr Paulson zulässt :confused

lunar 17.09.2008 08:47

JPMorgan Gave Lehman $138 Billion After Bankruptcy (Update3)
By Tiffany Kary and Chris Scinta

Sept. 16 (Bloomberg) -- JPMorgan Chase & Co. gave $138 billion this week in Federal Reserve-backed advances to the broker dealer unit of Lehman Brothers Holdings Inc. to settle Lehman trades and keep financial markets stable amid the biggest bankruptcy in history, according to a court filing.....

full story:

Garic pitches in with…

“Paulson gets on national television and says no tax payer money will be provided for Lehman Brothers; yet, the Federal Reserve advances $138B in one day to Lehman’s counterparties through J.P.Morgan. This makes Bill Clinton saying I did not have sex with her on national television meaningless.” And to think there are still a few nebishes out there who still won’t admit the US government, via its hit men like Morgan, are all over the gold and silver markets!

Love our free markets!

lunar 17.09.2008 09:26

Oil falls to $90 as commodities take battering
By Javier Blas in London
Published: September 16 2008 20:36 | Last updated: September 16 2008 20:36
Commodities were hammered for the second day running with oil prices falling below $90 a barrel as investors rushed to unwind trading positions in crude amid worries about AIG, the US insurer and the sponsor of a large commodity index.

West Texas Intermediate prices tumbled more than $5 to an intra-day low of $90.51, firming $4.56 lower at $91.15, leading a broad sell-off in base metals and agriculture commodities. Brent crude lost $5.02 to $89.22 a barrel.

The DJ-AIG commodity index is the second most popular in the asset class, with pension funds and other large investors investing some $30bn in derivatives that track the benchmark. The index fell 2.7 per cent to its lowest level since September 2007.

Bankers said while AIG had not provided all that exposure to the index through derivatives for clients, it was a counterparty for a “significant amount”.

Bankers said investors had moved about $10bn since Monday – more than 5 per cent of the funds tracking commodity indices – because of concerns over counterparty risk from several institutions.

While pension funds were transferring their accounts, hedge funds and retail investors were liquidating positions, they said. The collapse of Lehman Brothers was exacerbating the problem as the 158-year-old Wall Street bank ran an estimated $5bn commodity index business.

Jerome Drouin, head of commodity indices at Credit Suisse said: “Clients are trying to diversify their counterparty risk”.

Evidence of counterparty woes were highlighted by Criterion, a Toronto-based hedge fund, which said it was converting into cash its investment in derivative notes linked to the DJ-AIG commodity index as “a result of uncertainty regarding the note issuer”.

ETF Securities, the London-based issuer of commodity exchange-traded funds, hit problems when several market-makers of its funds stopped trading them amid concerns about AIG counterparty risk. ETF said AIG was its counterparty for about $2bn in some of its DJ-AIG commodity products and that some investors had withdrawn money.

John Reade, a commodity strategist at UBS, said investors in commodity indices were increasingly aware that they did not own hard assets but a swap on an index of commodity futures with counterparty risk.

AIG commodity bankers declined to comment.

Additional reporting by Chris Flood

:bad bin auch dabei :bad

lunar 17.09.2008 10:06


The Fed......
I had previously pasted my comments from 9-06 suggesting the Fed Operation in advance of what we are starting to see, today. Here is the next step as I posted on G-E, tonight, IMO>........................ I think this fits pretty well with what Cyclist expects.


(goldrunner) Sep 16, 21:36

(ag-au4me) Sep 16, 20:18

............So basically JP Morgan Lent Lehman $87B at the request of the FED, LEH STILL went bankrupt, and the FED pays back JPM ?!?!?!

Now CNBC reports a bridge loan of $85B to AIG for 80%, Should we expect better results ??..........


IMO, what you are seeing is the Fed/ Treas. finally showing clearly that they are "monteizing" debt and bad assets. This fits well with our expectations of Gold running off to 1250.......1371.......1437.

Along with the massive liquidity injections from Europe, today, the Fed will hold their rate cuts to use as "emergency cuts" into the 4th quarter, IMO. More "bang for the buck" to use the term in shooting the value of the Dollar down.

IMO, as Trader_Vic said about oil bottoming, OPEC and Russia will not sit idly by while the dollar starts to tank.

IMO, we are seeing the start of the full court press of the coming wave of massive dollar inflation, liquidity injections, monetization of debt and bad assetss............all of those things I talked about in my 9-06 missive explaining the "diary of a Fed Operation" that they usually run to help effect liquidity injections/ flows get to the market sectors they wish. The longer we go through the cycle, the less liquidity flow they can get to the financial stocks, bonds, the Dow, the volatility in the markets increase rapidly with these artificial operations by the Fed and Friends. Still, the snap-back to fundamentals will continuously occur.

Thus, we have seen "Fed Operation", then "Mission Accompolished", and now we are seeing the start of a massive reflation attempt. Now, GS and da boyz have covered their shorts in the PM sector for the most part as seen on the TOCOM and COT. The metals dealers have covered their hedges to the point they quit selling physical down here. Everything is set for a momentum run to the upside that will be the biggest arithmetic run for the PM sector in history as I suggested, last night (?). Now, we get to see just how much of the liquidity runs off to the PM sector.

IMO, the next several months should be wild for the PM sector............then, we get a bit of "deja vu."

Take care,


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