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lunar 02.07.2008 15:41

Zitat von lunar

Police Investigating Possible Suicide by Hedge Fund Cheat

Sam Israel III Failed to Appear at Prison To Begin Serving 20-year Term

June 9, 2008

Disgraced, physically incapacitated, and suffering from depression, hedge fund trader Samuel Israel III, failed to show up to begin a 20 year federal prison sentence today on charges of defrauding investors of $400 million, officials said. New York State police now are investigating whether he committed suicide after a car registered to him was found abandoned at the Bear Mountain Bridge along with a rambling suicide note, other officials confirm.

Samuel Israel III, right, arrives at the United States Courthouse in the Manhattan, N.Y. Monday,...
Samuel Israel III, right, arrives at the United States Courthouse in the Manhattan, N.Y. Monday, April 14, 2008. The Bayou Group founder arrived for sentencing after pleading guilty to using fake results and a phony auditing firm to fool investors in the $450 million hedge fund.
(AP Photo/Craig Ruttle)

Israel, a co-founder of the hedge-fund company Bayou Group, was sentenced in April to 20 years in prison and ordered to forfeit $300 million after pleading guilty to defrauding investors in his now-bankrupt firm.

US District Judge Colleen McMahon said to Israel at his sentencing, "You were, in every meaning of the sense, a career criminal. You ruined lives. Financial fraud, white-collar crimes are every bit as heinous as every other type of crime and they will be punished severely."

...da gäbe es noch einige ganz oben in den Regierungen :rolleyes:mad

....hmmmm - war wohl nur ein Täuschungsanöver :mad auch nicht eben die feine Art :rolleyes

Sam Israel III in custody - CNBC 2nd July 2008

lunar 02.07.2008 20:20

Posted On: Wednesday, July 02, 2008, 12:33:00 PM EST

Paulson's Economic Outlook Less Than Inspiring

Author: Jim Sinclair

Dear CIGAs,

Today the Secretary of the Treasury discussed the following points:

Point 1: International regulations are draconian with central banks now becoming the regulators to stabilize markets. Under the proposed new regulations the new regulators have the right and obligation to take over all types of banks and international investment banks when required without usual procedures.

Translation: This is it. The OTC derivative meltdown is far from over or under control. The history of central bank?s judgment of markets is probably the worst anywhere. In retrospect, central banks have always caused the bubbles and breaks.

Point 2: The Secretary sees economic activity in the Euro zone weakening.

Translation: ?Dear ECB: Please do not raise rates.? Good luck on that one.

Point 3: We are going through a rough patch in business.

Translation: It is going to get really bad out there. Put on a hard hat if you walk close to any building in which financial entities exist.

...wen "rettet" man :confused:rolleyes wen lässt man unter gehen :confused:rolleyes Big Brother :mad

lunar 02.07.2008 21:30

michou :verbeug
Registered User

Wishing for more rate cuts, dollar to be destroyed and oil to go sky high is pure crazyness imho.

What we are seeing now is oil going on a rampage destroying the world economies and equities and bringing the people in third world on the brink of starvation because of the agricultural bubble that comes with it.

Bernanke and his buddies is playing an insane game.

Markets are now expecting rate increases and in fact since Fed standed pat 2 weeks ago, markets are turning increasingly bearish now.

Some people might have thought that by keeping rates low that would have boosted the economy and markets but now it is quite the opposite in fact and I am starting to believe markets would even rally on small rate increases.

Inflation expectations, dollar historical weakness are contributing to the fact NOBODY wants to put his money in the markets anymore and/or buy anything so investors are just fueling bubbles which are counter productive now and are sending us to a death spiral.

Why in the world would someone buy even a good cash cow like MSFT if he knows value is going to be destroyed? Not only the stocks but the underlying currency (USD) it is traded in.

Inflation (and oil its silent reaper) is rampaging everything.

If the Fed doesn't go on a rate hike very soon, I am very afraid the cure is going to be much worse than the disease.

I know Bernanke wants only one thing: help his banking buddies (that's what the Fed is for anyway...) but he doesn't have the silly excuse to help the markets and economy anymore.

Rate hikes are the only way to save what can possibly be saved. There is no other way around.

Are the markets and the general economy going to start a revolt against the Fed?

I hope so because the way I see it it is now Fed/Banks against the whole world.

...FED/Paulson/GS & Co. :bad ob diese Eiterbeule auch mal platzt :rolleyes:mad

lunar 03.07.2008 08:57

The Great Panic of 2008 [video]

-- Posted Wednesday, 2 July 2008 | Digg This Article | Source:

100 Years Later: The more things don't change, the more they stay the same.

:supi (...damit meine ich das Video und nicht "The Great Panic" :rolleyes)

lunar 03.07.2008 10:51

Entire town of Big Sur, Calif., evacuated for fire Jul 2 09:52 PM US/Eastern

Associated Press Writer
BIG SUR, Calif. (AP) - Authorities ordered the remaining residents of this scenic coastal community to leave Wednesday because an out-of-control wildfire, one of hundreds in California, had jumped a fire line and was threatening more homes. Flames raged in the hills above and ash fell from orange skies as evacuees in packed cars streamed north along Highway 1, the only major road out of Big Sur. Sheriff's deputies told residents they needed to leave the area by late afternoon.

"The fire is just a big raging animal right now," said Darby Marshall, spokesman for the Monterey County Office of Emergency Services.

The blaze near Big Sur is one of more than 1,100 wildfires, mostly ignited by lightning, that have scorched 680 square miles and destroyed 60 homes and buildings across northern and central California since June 20, according to the California Department of Forestry and Fire Protection.

New mandatory evacuation notices were issued Wednesday for a 16-mile stretch along Highway 1. Authorities have closed a total of 25 miles of the scenic roadway, blocking access to popular resorts, restaurants, shops and art galleries that attract tourists from around the world.

The blaze had destroyed 16 homes and charred about 81 square miles of forest since it was started by lightning on June 21 in the Los Padres National Forest. It was only about 3 percent contained.

Fires burn downhill towards the Big Sur Center on Highway 1 as a part of...

full story:

lunar 03.07.2008 11:01

...nichts als Lügen :bad

Waxman: White House Knew Of Iraqi Oil Deal

By Ryan Grim

Jul 2, 2008

(The Politico) In September 2007, the Kurdish Regional Government, which runs the semi-autonomous region of Northern Iraq, announced that it had entered into an oil contract with U.S.-based Hunt Oil. The deal complicated negotiations over a revenue-sharing agreement and the Bush administration declared itself shocked at the news. “I know nothing about the deal,” said President Bush.

Documents uncovered by the House Committee on Oversight and Government Reform indicate that the White House probably shouldn’t have been so surprised. Among the many pieces of evidence that the administration knew and approved of the deal......

Copyright 2008 POLITICO

lunar 03.07.2008 13:38


Short-Seller müssen masochistisch (wirklich :confused:mad) veranlagt sein

Von Ricky McRoskey

Soll ich "shorten" oder nicht?

02. Juli 2008 Jim Chanos meint, dass das Tätigen von Leerverkäufen große Ähnlichkeit mit Verhörsituationen aufweist.

Laut Chanos, dem milliardenschweren Hedgefonds-Manager, der durch seine Wetten auf Mega-Zusammenbrüche von Unternehmen wie Enron (siehe GS unten) und Conseco bekannt wurde, bedarf es hierfür eine besondere Art von Investor :rolleyes; einen, der der Meinung der Unternehmenslenker und Analysten standhält, dass Short-Seller - jene Marktteilnehmer, die durch Wetten auf fallende Kurse einer Aktie oder einer anderen Anlageklasse Gewinn erzielen - eine Art wirtschaftliches Gift oder fehlgeleitete Taugenichtse wären. Und genau wie jene, die unter dem Druck ununterbrochenen Verhörens durch die Behörden zusammenbrechen, können viele Möchtegern-Short-Seller der Ablehnung an der Wall Street nicht standhalten. „Letztendlich ist bei den meisten Leuten irgendwann Schluss mit rationalen Entscheidungsprozessen“, sagt er. „Man ist solange schuldig, bis die Unschuld bewiesen ist.“.......

.....Um Marktblasen aufspüren zu können, benötigen Short-Seller eine natürliche Skepsis gegenüber der heißen Luft, welche die Aktienkurse überhaupt erst hochtreibt. Sie sind nur schwer zu überzeugen. „Da braucht es jemanden, der die gängige Meinung wirklich in Frage stellt“, sagt David Tice, Manager des Prudent Bear Fund...... (oder man ist zB GS - oder auch ein anderes Haus - empfiehlt seinen Kunden eine Aktie, shortet sie nschliessend, mit dem Wissen, dass man Schrott empfohlen hat und streicht dicke Gewinne ein :bad passiert andauernd :mad)...

Eine einzigartige - wenn nicht sogar leicht masochistische (könnte es nicht auch eine sadistische/betrügerische sein :rolleyes) - Investment-Psychologie ist daher vonnöten, um sich mit der Kunst der Baissespekulation zu befassen (...vielleicht auch InsiderWissen oder sonstige besonders gute Beziehungen :rolleyes), was aber eine steigende Anzahl von Investoren nicht davon abgehalten hat, sie auszuprobieren. Am 13. Juni betrug die Anzahl der an der New Yorker Börse leer verkauften Aktien rekordhohe 17,6 Milliarden, ein Anstieg von 37 Prozent seit Januar....

ganzer Artikel:

....ich finde diesen Artikel viel zu unkritisch - es gibt wie überall auf beiden Seiten Gauner und "Helden" - vielleicht sollte man auch darauf hinweisen, dass man eine kleine Firma auf diese Art ruinieren kann, ganz zu schweigen von den KleinAnlegern :rolleyes aber natürlich ist es schwer einem grossen regierungs-/FEDfreundlichem Brokerhouse etwas Nachteiliges zu beweisen :mad

lunar 03.07.2008 18:15

From Times Online

July 3, 2008

Ingrid Betancourt reunited with family after daring raid

Ingrid Betancourt was reunited with her two children, Lorenzo and Melanie, after six years in rebel captivity

Hannah Strange and Thomas Catan

Ingrid Betancourt, the French-Colombian politician freed after six years in rebel captivity, embraced her two children today in an emotional airport reunion which she described as "paradise".

Fighting back tears and clinging tightly to Lorenzo and Melanie, Ms Betancourt said her son and daughter were "so different and so similar at the same time". The pair were 13 and 16 when she was kidnapped by Farc rebels in February 2002, while campaigning for the Colombian presidency, and have since grown into young adults.

“Nirvana, paradise - that must be very similar to what I feel at this moment,” she told reporters at Bogota airbase, less than 24 hours after her rescue along with 14 other hostages by Colombian security forces....



Für die FARC wird es eng

Betancourt trifft ihre Kinder - "Wie im Paradies"

Sechs Jahre zwischen Bangen und Hoffen - jetzt kann Ingrid Betancourt endlich ihre Familie wieder in die Arme schließen. Ein Gefühl wie im Paradies, sagte die ehemalige kolumbianische Geisel, als sie am Donnerstag ihre Kinder wiedersah. [mehr],00.html

...ich bin immer wieder erstaunt, was für einen positiven Eindruck solche Menschen ausstrahlen - nach solchen psychischen und physischen Strapazen - das empfand ich auch so sehr bei Nelson Mandela :)

lunar 04.07.2008 09:25

4th July

Scrooge McDuck and Money (01)

Scrooge McDuck and Money (2)

lunar 04.07.2008 16:30

DasGelbeForum - merci
Goldman Sucks feuert Torpedo in Richtung europäischer Banken

verfasst von Jermak, 04.07.2008, 15:14

Kapitalbedarf von 60 Mrd


Torpedos können auch das eigene Schiff treffen

verfasst von philliecht, 04.07.2008, 16:44

Will heissen: Wer so genau weiss, wie es um die Marktteilnehmer steht und selbst ein Teil davon ist, braucht wahrscheinlich am meisten Kapital. Goldi hat überall seine Finger drin. Ich kann mir beim besten Willen nicht vorstellen, dass sie so über dem Markt stehen, dass sie unantastbar sind vorausschauende Positionen hin oder her. Da Goldi selbst Gegenpartei für diverse Buchstabensalatinvestmentpapiere ist (ABS, CDS, ARM und wie sie alle heissen), wissen die sehr genau, was es geschlagen hat, wenn eine dieser Parteien ausfällt. Das beste Beispiel ist JP Morgan und Bear Stearns.
Dieser Torpedo ist eine Lachnummer. Die genannte Summe glaube ich sofort, aber nur auf die Euro-Banken zielen geht nicht. Dies ist ein Teil des riesigen Propagandakrieges zwischen den USA und Europa. Jeder weiss, dass die US-Banken nur noch dahinsiechen und nur durch ihre Bilanzierungsgesetze auf dem Papier noch nicht pleite sind. Somit werte ich dieses Statement als lächerlichen Versuch die Aufmerksamkeit weg vom eigenen Markt zu lenken.

Grüsse vom



...nur - wer hat schon so ein aussergewöhnlich effizientes Beziehungsnetz wie GS :rolleyes an vielen strategisch wichtigen Posten sitzen die ex-GSler - Paulson zur Zeit wohl der Einflussreichste - da lässt sich's schon gut prognostizieren und vorsorgen für die eigenen Reihen :bad

lunar 04.07.2008 17:36

America and China: The Eagle and the Dragon Part two: Requiem for a dream

Last Updated: 12:01am BST 02/07/2008

Once symbolic of optimism and certainty, America's credit-crunched suburbs may be facing a decline as dramatic as that of Detroit, itself once a beacon of industry. Mick Brown and the photographer Alec Soth continue their investigation into the contrasting fortunes of the US and China

The birthplace of modern America - one might say the modern world - is a huge disused factory building that stands on a busy six-lane boulevard in a part of Detroit named Highland Park.......

As the birthplace of mass production, Detroit 'set the pattern of abundance for 20th-century living'

Detroit in decay: in the background is the disused Highland Park factory where Henry Ford started mass production of his Model Ts

Fisher Body Plant 21, where Cadillac limousine bodies once rolled off the production line

lunar 04.07.2008 17:52

Zitat von lunar

Ingrid Betancourt reunited with family after daring raid


Betancourt, der Mossad und der Multimillionen- Trick

Hatte der Mossad die Finger im Spiel? Oder war es am Ende gar keine Befreiung, sondern schlicht ein Freikauf für 20 Millionen Dollar? Während Ingrid Betancourt einen emotionalen Frankreich-Besuch beginnt, blühen die Spekulationen um ihre Rettung - die sogleich dementiert werden. Von Florian Gathmann und Ulrike Putz, Tel Aviv mehr...


lunar 05.07.2008 09:01

DER SPIEGEL 12/1968 vom 18.03.1968, Seite 34


Barbarisches Metall

.....Die globale Flucht aus dem Dollar in das Gold, die seit Monaten die internationalen Devisenmärkte erschütert, gipfelte in Panik. In London, Zürich und Johannesburg schlossen die Goldbörsen ihre Pforten........

ganzer Artikel:

hätte diesen Artikel gerne ganz abgedruckt - aber eben leider Spiegel :rolleyes

übrigens :verbeug an elsilbero (GodseitenForum) und er hat es im DasGelbeForum gesehen :verbeug

lunar 05.07.2008 09:44

...hört, hört :eek

Fed's Bullard says bank's credibility on line

Thu Jul 3, 2008 10:51am EDT

CHICAGO, July 3 (Reuters) - The Federal Reserve's use of core inflation measures is harming its credibility, the new president of the St. Louis Fed wrote in an editorial released on Thursday......

......It is hurting Fed credibility to say that we are trying to keep inflation low and stable, but at the same time we are not counting some of the prices that are going up at the most rapid pace," Bullard wrote in the bank's magazine, "The Regional Economist.........

(Reporting by Ros Krasny; Editing by Tom Hals)

full story:

lunar 05.07.2008 17:59

Protesters Interrupt President’s Speech From Jefferson’s Monticello Home :D

lunar 05.07.2008 18:50

What Really Killed Bear Stearns?

June 30, 2008, 8:30 am

Did Bear Stearns melt down — or was it murdered?

That is one of the big questions that Bryan Burrough, who co-wrote the best-selling 1990 book “Barbarians at the Gate,” tries to answer in a lengthy article in the August Vanity Fair magazine.

Mr. Burrough spoke with many Bear executives and board members who described in vivid detail the events that unfolded that fateful week in March when Bear Stearns was ultimately forced to sell itself to JPMorgan Chase for a pittance.

According to Mr. Burrough’s account, Bear did not have a liquidity problem, at least at first. In fact, he said it had more than $18 billion in cash to cover its trades when the week began. There were no major withdrawals until late in the week, after rumors flew that the company was in trouble.

A top Bear executive told Mr. Burrough, “There was a reason [the rumor] was leaked, and the reason is simple: someone wanted us to go down, and go down hard.”

Bear executives frantically tried to find the source of the rumors, but failed to do so. They have their suspicions, and they have turned over the names to federal authorities that are investigating the matter.

Two possible sources named in the article — albeit with few supporting details — are hedge funds: Chicago-based Citadel, run by Ken Griffin, and SAC Capital Partners of Stamford, Conn., run by Steven Cohen. The third was one of Bear’s main competitors, Goldman Sachs :bad

All three firms denied any involvement in spreading the rumor, according to the article.

Several Bear executives also told Mr. Burroughs that an individual may have been spreading rumors about the firm that week — Jeff Dorman. Mr. Dorman briefly served as global co-head of Bear’s prime brokerage business until resigning to take a similar position at Deutsche Bank. One Bear executive said, “We heard Dorman was saying things last summer […] At the time we reached out to Deutsche Bank and told them he better stop it.”

But the rumors caused a run on the bank and depleted Bear’s capital base. Alan Schwartz, the firm’s chief executive, then reached out to his counterpart at JPMorgan, James Dimon, for help. Mr. Schwartz called Mr. Dimon, who was eating dinner with his family, celebrating his 52nd birthday.

Mr. Burrough described the call this way:
Dimon stepped outside onto the sidewalk. Schwartz quickly explained the depth of Bear’s plight and said, ‘We really need help.’ Still irked, Dimon said, ‘How much?’ ‘As much as 30 billion,’ Schwartz said. ‘Alan, I can’t do that,’ Dimon said. ‘It’s too much.’ ‘Well, could you guys buy us overnight?’ ‘I can’t — that’s impossible,’ Dimon replied. ‘There’s no time to do the homework. We don’t know the issues. I’ve got a board.’

Mr. Dimon then called the New York Federal Reserve and worked out a deal where the government would lend the money to JPMorgan, which would then lend it to Bear Stearns. Bear would live another day — but just a few more. Bear executives thought they had 28 days to pay the money back. The article recounts a conversation that Mr. Schwartz had with federal officials informing him that he had far less time than he thought:
Schwartz’s phone rang. It was Tim Geithner of the Fed, with the Treasury secretary, Hank Paulson. Paulson came right to the point. ‘You’ll recall I told you when we cut this facility [that] your fate was no longer in your hands,’ he told Schwartz. ‘Well, we don’t plan on being here on Sunday night like we were last night. You’ve got the weekend to do a deal with J.P. Morgan or anyone else you can find. But if you’re not done by Monday, we’re pulling the plug.’ And, like that, Bear’s 28-day cushion evaporated. The Fed’s credit line was good only till Sunday night.”

The news came as a shock to Bear executives.

When Bear’s chief financial officer, Sam Molinaro, heard the news from Mr. Schwartz he said, “You’ve got to be kidding me.” The firm was eventually forced to sell itself to JPMorgan to avoid a bankruptcy filing.

Go to Article from Vanity Fair »

lunar 05.07.2008 20:11

Rove’s Third Term
By: Nicole Belle on Saturday, July 5th, 2008 at 6:45 AM

Paul Krugman in the NY Times (reg. req’d)
Al Gore never claimed that he invented the Internet. Howard Dean didn’t scream. Hillary Clinton didn’t say she was staying in the race because Barack Obama might be assassinated. And Wesley Clark didn’t impugn John McCain’s military service.

Scott McClellan, the former White House press secretary, titled his tell-all memoir “What Happened.” But a true account of modern American politics should be titled “What Didn’t Happen.” Again and again we’ve had media firestorms over supposedly revealing incidents that never actually took place.

The latest fake scandal fit the usual pattern as an awkwardly phrased remark, lifted out of context and willfully misinterpreted, exploded across the airwaves.

What General Clark actually said was that Mr. McCain’s war service, though heroic, didn’t necessarily constitute a qualification for the presidency. It was a blunt but truthful remark, and not at all outrageous - especially given the fact that General Clark is himself a bona fide war hero.

Yet the Clark affair did reveal something important - not about General Clark, but about Mr. McCain. Now we know what a McCain administration would represent: namely, a third term for Karl Rove.

It was predictable that the McCain campaign would go wild over the Clark remarks. Mr. McCain’s run for the White House has always been based on persona rather than policy: he doesn’t have ideas that voters agree with, but he does have an inspiring life story - which, contrary to the myth of the modest maverick, he talks about all the time. The suggestion that this life story isn’t relevant to his quest for office was bound to provoke a violent reaction.

But the McCain campaign went beyond condemning General Clark’s remarks; it went out of its way to distort them.[..]

The willingness of the McCain campaign to engage in these tactics, employing such tainted spokesmen, tells us that the campaign has decided to go negative - specifically, to apply the strategy Karl Rove used so effectively in 2002 and 2004 (but not so effectively in 2006), that of portraying Democrats as unpatriotic.

And sure enough, Adam Nagourney of The New York Times reports signs of the “increasing influence of veterans of Mr. Rove’s shop in the McCain operation.”

Will Rovian tactics work this year?

:rolleyes na dann gute Nacht - wenn der wieder kommt :mad:bad

lunar 06.07.2008 09:16

The Economy? Words Fail Me.

Washington Sketch: Economic Anxiety Disorder
The Washington Post's Dana Milbank sketches Assistant Treasury Secretary Phillip Swagel's briefing on the ailing US economy.

washington_po284:! Buzz

By Dana Milbank
Friday, July 4, 2008; Page A03

Think you're worried about the economy? Phillip Swagel is a wreck.

The assistant Treasury secretary for economic policy, Swagel came out for his monthly economic briefing yesterday, 90 minutes after the Labor Department reported that the country had shed jobs in June for the sixth straight month.

Does this mean the economy is worse than the Bush administration expected?

"We shouldn't, in a sense, be surprised when the data are, are, soft," Swagel managed to say.

Does the economy need another stimulus package?

"I-it seems, you know, it seems like that's, that's enough, uh, enough."

What might trigger another round of economic stimulus?

"I don't, I guess I don't have an answer, I mean, you know, beyond saying we look at all the data and, um -- so, my usual line."

Okay, so it wasn't a strong performance. But let's cut Swagel some slack. He's a sharp economist (his PhD is from Harvard) and, in ordinary conversation, he suffers none of the speech difficulties that plagued him on the stage yesterday. His various roles in government, at the Council of Economic Advisers, the Federal Reserve and the International Monetary Fund, were too junior for him to deserve any blame for the current economic troubles.

But Treasury Secretary Hank Paulson, who was in London yesterday, and Swagel's other superiors in the Bush administration left him with an impossible task: appearing on camera to put a favorable and reassuring gloss on an economy that has gone to the dogs....
full story:


einige Kommenare von einem AmiBoard:


bizarre press conference, almost looked like it was staged

Dana Milbank is Yale/Skull & Bones just like the guy he's made a career out of criticizing.

Twisted Avatar
And that is the other point I want to make.......this was piece that ran in the Washington post.......... think about that

They (TPTB) want this information out there...... they are setting the stage for the pressure to build that will result in the collaspe of the economy.

This may seem like breaking news.........but is not. This is just more confirmation that game of musical chairs is about to stop and when it dose make sure you have your seat.

Your Silver seat.


So if this was a top U.S. economics official holding a news conference to field questions on the state of the economy...
.................then WHY is there only five or six reporters attending?

It does not seem like this was ever intended to be on major mainstream media...but rather to be made as something that they want sites like GIM to pick up and notice.

Skull and Bones insiders staging an alarmist economy "news conference"
...using the words "hide valuables and buy a shotgun"
....this is some govt pre-martial law study to assess reactions before the real news conferences begin to take place: "let's make this fake news conference and see what kind of reaction it gets on the various doom and gloom web sites."

They need to know what people like us are going to say and do. We are opposition and they are doing opposition research.


1) Staged. Come on... five or six reporters? Skull and Bones?
I think it went down as simple as this: "Okay you go out and act nervous, use common economic code words all the movers and shakers will recognize as big trouble, and then we will have one of our S&B brothers in the media, maybe Dana, point out again and again how nervous and unconfident you are during his report."

2) It is not meant for the is meant to be seen by the movers and shakers who also will see this video.
It is meant to create a larger ripple. Yup, they are pro-actively crashing this economy.


Pay no attention to that junior flunkie behind the microphone.

The real news from the Treasury Dept. this week was Hankie Pankie Paulsen's appearance in London. I can't find a video, but here's the written statement.

Un-friggin-believable. TPTB are scared shitless. They're basically admitting TS is HTF. Many big banks and brokers around the world are about to fail. No sense in sugar-coating it, the UK needs a new agency called the "Financial Stability Committee." George Orwell would be proud, brother.

Sell FRNs, buy PMs.

The masses have been told there is suffering ahead, so now it is o.k. for them to suffer.

Emergency Amero, coming shortly to a financial institution near you?

Question? Why is Amero not recognized by my spell checker?

45 ACP
That was like a creepy bad SNL skit.

Is Milbank for real?

Bizarre shat, to say the least.

It was hilarious. Everything is going to be fine we have crack economists like this guy working on the solution. It gave me so much confidence I think I'll buy stocks again.

lunar 06.07.2008 12:33


I know this is mind boggling to everybody. A story in the Chicago Tribune sort of hinted at the problem.

A house was sold 3 times in increasing amounts to 3 different owners over a period of a year or so. What tipped the story to make the headline was that there was a dead body in there that was estimated to be dead for two years.

Nobody even walked through the house during the scam. Outside of a dead body in a house, that is propably not an isolated innocent of fraud.



This house was a steal

How fraud led to this property changing hands 3 times as son of owner sat dead inside

By Susan Chandler. Tribune reporter David Jackson contributed to this report |Tribune Reporter February 24, 2008

The new buyers of a rundown graystone on the South Side showed up Jan. 9 to look at the house they won at a foreclosure auction. They took the plywood off the front door and went inside to make sure the utilities had been shut off. Then they called the police.

Sitting upright in the corner of a bedroom off the kitchen was a human skeleton in a red tracksuit. Next to him lay a dead dog. Neighbors told police the corpse was almost certainly Randy Johnson, a middle-age man who lived alone in the North Kenwood house.

The cause of Johnson's death has not yet been determined, but it is just one of the mysteries about 4578 S. Oakenwald Ave. Somehow, Johnson's house was transferred three times to new owners without anyone noticing he was inside. It's a story involving forged deeds, a corrupt title company and a South Side family that has been under investigation for mortgage fraud.

Left holding the bag is Countrywide Home Loans, the nation's largest mortgage lender and a company whose practices are being scrutinized by the Illinois attorney general's office. Countrywide made mortgages of $450,000 on the property. Now it is likely to lose it all because it financed the sale of a home whose rightful owner was in no condition to sell.....
full sad story:

lunar 06.07.2008 16:35

Die grosse Finanzkrise hat eben erst begonnen

US-Studie beziffert Verluste der Finanzinstitute auf 1600 Milliarden Dollar


Wer annimmt, die Misere finde bald ein Ende, der irrt. Geht es um Abschreibungen, Verluste und frisches Eigenkapital, hat die Krise für Banken erst begonnen. Die zu erwartenden Verluste werden sich auf 1600 Milliarden Dollar summieren. Davon sei erst ein Bruchteil an die Oberfläche gekommen. Zu diesem Schluss kommt eine vertrauliche Studie, die der SonntagsZeitung vorliegt.

Das ist aber noch nicht alles. Während Banken ihr Ehrenwort abgeben, kein weiteres Kapital zu benötigen, heisst es im Papier von Bridgewater Associates: «Wir haben grosse Zweifel, dass es den Finanzinstituten gelingen wird, genügend neues Eigenkapital aufzunehmen, um die Verluste zu decken. Das wird die Kreditklemme verschlimmern.»

«Wenn das alles stimmt», sagt Charles Wyplosz, Professor an der Universität Genf, «werden etliche Finanzinstitute Pleite gehen.» Das Analysepapier gilt in Fachkreisen nicht nur wegen seines Inhalts als «hot», sondern auch wegen des Absenders: Bridgewater Associates ist der zweitgrösste Hedge Fund der Welt. Die Köpfe dahinter gelten als brillant, allen voran Ray Dalio, der die Firma vor über dreissig Jahren gegründet hat.

26 600 Milliarden Dollar Schulden gelten als riskant

Die Firma gehört zu den grossen Namen in der Branche. Gewicht haben ihre Makro-Analysen vor allem auch bei Notenbankern - einige Notenbanken sind Kunden von Bridgewater. Die Schweizerische Nationalbank sagt auf Anfrage, sie kommentiere solche Studien grundsätzlich nicht.

Was steht für die Banken auf dem Spiel? Um die Dimension der Krise für Finanzinstitute zu ermitteln, hat Bridgewater berechnet, wie hoch die zu erwartenden Verluste auf einer breiten Palette risikobehafteter schuldenbasierter US-Vermögenswerte wie Hypotheken-, Kredit- oder Kreditkartenforderungen ausfallen werden. Denn man wisse grundsätzlich, wer wie viel wovon in den Büchern halte. Der Bestand dieser risikobehafteten Vermögenswerte beläuft sich wertmässig auf 26 600 Milliarden Dollar. Die Verluste darauf werden sich auf 1600 Milliarden Dollar summieren, wenn alle Vermögenswerte zu Marktpreisen bewertet werden und nicht nur die in verbriefter Form gehaltenen, schreibt Ray Dalio.

Ein klassischer Kredit ist nicht zu Marktpreisen bilanziert, denn er wird nicht gehandelt. Bezogen auf die 26 600 Milliarden Dollar entsprechen die Verluste einer Wertminderung von 6 Prozent. Wenn die Marktpreise steigen, reduziert sich der Verlust; wenn die Kurse fallen, steigen die Verluste.

Die grössten Verluste stehen den US-Kreditbanken bevor

Bisher haben Finanzinstitute erst Verluste von 400 Milliarden Dollar eingeräumt, rechnet Bridgewater vor. Nicht-US-Banken - allen voran die UBS - lieferten mit 238 Milliarden Dollar den grössten «Beitrag» daran. Die höchsten Verluste stünden den US-Kreditbanken bevor. Das sind Namen wie Citigroup, Bank of America und J.P. Morgan Chase und viele kleinere, hier zu Lande unbekannte Institute........

........Phase eins der Kreditkrise war geprägt durch den Kollaps des Immobilienmarkts in den USA und den Crash im Markt für Subprime-Hypotheken. Phase zwei - eine Art Atempause - fing mit der Rettung der US-Investmentbank Bear Stearns Mitte März an. Diese lief im Juni aus, als der Optimismus an den Finanzmärkten sich wieder verflüchtigte. Nun beginnt Phase drei. «Bridgewater ist auf der pessimistischen Seite, keine Frage», sagt George Magnus, Senior Economic Adviser der UBS in London, «aber Bridgewater hat absolut Recht.»

ganzer Artikel:

lunar 07.07.2008 16:39

July 7, 2008
George W Bush's greatest wish: freedom from tyranny

A President’s wish: ’ .. for a world free from tyranny: the tyranny of hunger, disease ...’

Philippe Naughton

President Bush has posted a message on a "wishing tree" at the G8 summit in Japan and, true to the aims of his second term in office, his main desire is for a world free from tyranny.

Hung in the branches of a black bamboo in Toyako on the northern island of Hokkaido, the Tanabata message is handwritten on a simple paper hanging with an embroidered border.

Mr Bush writes: "I wish for a world free from tyranny: the tyranny of hunger, disease; and free from tyrannical governments.....

full story: sind die Kommentare, die man lesen sollte :rolleyes:o;) das sind einfach nur die ersten fünf ;)

I can only hope that the world of 2009 has a little Obama and Cameron in it ! peace x
Richard Payne , Taunton , UK

For all of you who are incredibly graceless toward President Bush: shame on you! He has only done duties that are called for from a president, and that of a world leader such as America. Save your heartless criticism for yourself. You certainly do not speak for me or other grateful citizens.
Audrey, Montpelier, USA

I agree with Mike, Samwell, and Zach... for once all the world can share W's wishes.
Bill , Baltimore, USA

Your headline made me laugh out loud. Needless to say, I agree (and hope) that the world will be one tyrant fewer on Jan 20, 2009.
D Johnson, Baltimore,

What a joke! He is the biggest hypocrite around. When he and his criminal regime are out of office - that's when we will see some light coming back to this dark world.
ganesh patel, london, uk

...und viele mehr :rolleyes übrigens der von D Johnson und ganesh sind so auf meiner Linie :o

lunar 07.07.2008 17:30

BIZ warnt: Schlimme Folgen der Spaltung der G8-Zentralbanken

F. William Engdahl

Es sieht so aus, als würden sich die fatalen Fehler der Zentralbanken in der Zeit von 1929 bis 1931, die damals dazu führten, dass sich eine Wirtschaftskrise und Rezession zu einer fast zehn Jahre währenden weltweiten Depression verschlimmerte, in fast identischer Weise wiederholen: die »Federal Reserve« der USA und die Europäische Zentralbank gehen verschiedene politische Wege im Umgang mit der heutigen wirtschaftlichen Realität. Die »Fed« unter Bernanke war zwar in den letzten Wochen um eine gewisse Rhetorik bemüht, um den »Dollar starkzureden«, ihr ist aber durchaus bewusst, dass sie die Zinsraten extrem niedrig halten muss, wenn sie keine neue Bankrottwelle und eine Welle neuer Zwangsversteigerungen von Eigenheimen in der depressionsgebeutelten Wirtschaft riskieren will. Im Gegensatz dazu scheint Trichets EZB enschlossen, durch das schlimmste Mittel, das man sich in der heutigen Zeit vorstellen kann, die »Inflation zu bekämpfen« – nämlich die Zinsraten genau zu dem Zeitpunkt zu erhöhen, wo die EU-Wirtschaft auf der Kippe steht und sich einige Mitgliedsländer, insbesondere Spanien und Italien, de facto bereits in einer Depression befinden......

......Ein Bailout durch die US-Regierung wird unvermeidbar Die Schlussfolgerung der BIZ ist ernüchternd und unterstreicht das, was ich an dieser Stelle seit November 2007 über das beispiellose Ausmaß der gegenwärtigen Krise geschrieben habe: »Marktturbulenzen, wie sie zurzeit an den weltweit wichtigsten Finanzplätzen zu beobachten sind, hat es nach dem Zweiten Weltkrieg bisher nicht gegeben. In den USA besteht ein erhebliches Rezessionsrisiko, und in zahlreichen Ländern steigt die Inflationsrate drastisch. Vor diesem Hintergrund wächst die Befürchtung, dass die Weltwirtschaft an einer Art Wendepunkt stehen könnte. Diese Befürchtung ist nicht unbegründet. Ein machtvolles Wechselspiel zwischen Innovationen an den Finanzmärkten, laxen internen und externen Unternehmenskontrollen sowie über viele Jahre weltweit lockeren monetären Bedingungen hat uns in die schwierige Lage von heute gebracht.«........

......Ein möglicher Albtraum für die US-Banken Bei Prozessen im Jahre 2005 und Anfang 2007 entschied die US-Bezirksrichterin Lynn Adelman, die betreffende Bank habe gegen den »Truth in Lending Act« (TILA, eine Art Verbraucherschutzgesetz in den USA) verstoßen – es ging um den Fall eines Ehepaares aus Wisconsin, deren Bank, die Chevy Chase Bank, ihnen die wirklichen Bedingungen ihres Kreditvertrages mit flexiblem Zinssatz verschwiegen hatte. In dem Verfahren von 2005 hatte das Paar ausgesagt, der Zinssatz hätte sich im zweiten Monat gegenüber den ursprünglich für angeblich fünf Jahre zugesicherten 1,95 Prozent mehr als verdoppelt. Stattdessen stieg der Zinssatz bereits im zweiten Monat deutlich über den festen Zinssatz von 5,75 Prozent. Noch beunruhigender für die Banken, die während des Verbriefungs-Booms vor August 2007 skrupellose »Räuber-Kredite« ausgaben, war allerdings, dass die Richterin Adelman in ihrem Urteil ebenfalls entschied, die Kreditnehmer könnten die Bank zwingen, die Kredite zu kündigen oder zu löschen. Gegen dieses Urteil wurde beim Berufungsgericht im 7. US-Gerichtsbezirk Berufung eingelegt. Mit der Entscheidung des Berufungsgerichts ist täglich zu rechnen.....

ganzen Artikel lesen - es lohnt sich:

:verbeug @Gaby - DasGelbeForum

lunar 07.07.2008 18:36

bei Sterbehelfer - GoldseitenForum gesehen :verbeug

lunar 07.07.2008 19:30

# more years of gyt wrenching declines says Louise Yamada-Wall St’s greatest technician

-> Posted by Richard640 :verbeug @ 14:04 pm on July 7, 2008
Jay Taylor comments on her work:
Most stocks are in a structural bear market and as such will be in decline for some time to come. In fact, she makes the case that we could have another three years of gut-wrenching declines for some of the biggest and bluest blue-chip names in corporate America as economic power shifts from the West to the East. Some of the big-time companies that are in a significant decline are major household names like Citicorp, Pfizer, General Motors, Eli Lilly, Dupont, General Electric, and United Health Groups. In general, Louise thinks consumer cyclical stocks will continue to have a hard time, with the possible exception of deep-discount outfits like Wal-Mart and Costco. She also likes the railroads and utilities, and thinks Caterpillar might not be bad as it continues to participate in the global wealth-creating story.
Ms. Yamada is comparing the U.S. equity markets now to that of the latter part of the 1930s :rolleyes Most specifically, she thinks we have at least another three years of really difficult markets to struggle through, during which time, many of the former big names will not survive. This kind of structural bear market usually takes 10, 12, or even 15 years to end. She marks the start of this bear market at 2000, which means it could last beyond 2010.
Energy and metal stocks are in a cyclical correction, not a structural bear market. Louise points out that the structural shift we are seeing is taking place due to global economic dynamics, owing to large populations now having spending power, and that this structural shift is resulting in a transfer of wealth away from financial stocks back to companies that produce “stuff.” For example, she points out that in 1980, which was the end of the last commodity bull market, financial stocks comprised 6% of the S&P 500, while energy companies comprised 27% of that index. By contrast, in 2007, financial stocks made up 27% of the S&P 500, and as recently as 2003, energy stocks were just 6% of that index. Now energy stocks have climbed to 14%. Louise thinks we could see upward to 30% composition of energy stocks before this bull market is over.

...ich fand sie immer sehr gut (obwohl sie auch bei CNBC zu sehen ist ;))

Louise Yamada -

lunar 08.07.2008 08:59

1 Anhang/Anhänge
...roter geht's nimmer :mad

lunar 08.07.2008 12:50

..for every 1000 persons ---> 750 cars :dumm in USA - 4 in China (CNBC)

lunar 08.07.2008 13:07

The Politics of Deception
Historian Kevin Phillips on decades of bi-partisan deceit


Kevin Phillips, author of Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism, has expertly detailed the history of false economic achievement in a recent Harper’s Magazine article. The culmination of 40+ years of gradual but consistent distortion of economic statistics have come home to roost and explain much of our current morass. Inflation statistics help determine interest rates, cost-of-living increases for wages and Social Security benefits as well as interest payments on the national debt. Inflation statistics also affect the planning, spending, saving and investing habits of every American. And lastly, decades of understated inflation means that GDP growth has been overstated.

It is Phillips contention that the under-measurement of inflation has put the country at great risk. To acknowledge the reality would send interest rates sharply higher. This would directly affect the continued viability of the massive build-up of debt, both public and private, that has fueled the economy over the last two decades. In addition, if the true state of inflation were acknowledged, the government would face huge increases in pension, retirement benefits and borrowing costs, overwhelming an already debt-burdened federal budget. Ultimately of course, the market will acknowledge the truth about inflation and interest rates will climb anyway. If government statistics remain distorted, institutional trust and credibility will be just two more victims of inflation.

No discouraged workers in Camelot

The long campaign of statistical massage began in the Kennedy Administration. Seeking a way to lower the high jobless statistics and make things look a little more like Camelot, the Administration pushed through a change that jobless Americans who had stopped looking for work were to be labeled “discouraged workers.” They were then left off the unemployment statistics. The workers were still unemployed, but no longer counted as such. Problem solved. (...das ist bei uns dasselbe, die Ausgesteuerten erscheinen auch nicht mehr in der Statistik :mad)

Johnson’s “unified budget” ploy

President Lyndon Johnson, a clever political dealmaker, came up with the concept for the “unified budget” for the 1969 fiscal year as he was about to finish his final year in office. The proposal unified Social Security with the rest of the federal budget. This clever maneuver allowed the hefty Social Security surpluses to be spent to cover the growing deficits in the federal budget. Here was another short term solution with longer term consequences. We are now coming to the end of the Social Security surplus years, and four decades of surpluses have been spent. The “lock box” is now stuffed with paper IOU’s and little else.

Rotten to the “core”

Not to be outdone by prior administrations, President Nixon requested that Fed Chairman Arthur Burns develop the concept of “core inflation” statistics. Headline inflation was rising in the early 1970’s and Nixon wanted a method to make the inflation number more politically palatable. Core inflation would be used to exclude those “volatile” categories such as food and energy.

This all sounds like déjà vu all over again. In his article, Phillips quotes economic commentator Barry Ritholtz as labeling core inflation “inflation ex-inflation.” That is the general idea, as politicians sought creative ways to bolster their administrations and fool the American people. President Nixon soon discovered the folly in that general concept.

BLS adds to the BS under Reagan

The Reagan administration added a critical element to the inflation manipulation game when they “convinced” the Bureau of Labor Statistics (BLS) in 1983 that housing inflation was overstating the CPI. The BLS came up with the concept of “owners equivalent rent” which estimated what a homeowner might get for renting his or her house. As home prices spiraled upward in the late 1980’s and mid 2000’s, the CPI omitted rampant housing inflation. Phillips points out that low inflation rates makes it easier to borrow money, and an artificially low CPI encouraged the speculative expansion in private debt starting in the late 1980’s.

Distortion heats up in the 1990’s

Following Reagan, President George H.W. Bush had his turn at the plate. In 1990, Bush’s chairman of the Council of Economic Advisors, Michael Boskin, proposed a series of changes to economic statistics to reduce the measured rate of inflation. Under a smokescreen of making the methodology relevant to the “new economy,” the critics clearly saw this as a ploy to reduce rapidly growing government outlays.

Clinton follows up

The changes proposed by the Boskin Commission were not implemented until 1996 under President Clinton and with the support of Fed Chairman Alan Greenspan. The inflation statistics were now subject to the oft-discussed concepts of “product substitution,” “hedonic adjustments” and “geometric weighting” which have greatly contributed to the current underestimating of inflation.

The end of M3

The second President Bush kicked the ball along a little further by introducing an “experimental” CPI calculation in 2002, which shaved 0.3% off the official CPI. And in 2006, the Bush Administration stopped publishing M3 statistics, which would effectively highlight both rising money supply growth and rising inflation concerns. The laughable excuse from the Federal Reserve for deleting M3 was the expense of compiling the information. For an organization that prints money, the cost wouldn’t even amount to a rounding error.....

full story:

lunar 08.07.2008 14:06

Monday, July 7, 2008

BARRON'S COVER The Bear's Back


Now that the bear market has officially arrived, it may stick around and gnash its teeth for a while -- until it's scared away those who remain. (Video)

IT'S OFFICIAL: THE BEAR HAS ARRIVED. The Dow Jones Industrial Average last week qualified for the widely accepted definition of a bear market of a 20% drop from the highs. The good news is that once the decline reaches that arbitrary 20% mark, based on history, the market has suffered most of its losses. The bad news is that the decline typically drags on for some time, and time may be the worst enemy. Investors may initially try to grab erstwhile highfliers that have crashed and burned but rarely regain their former status. And as the decline wears down investors' psyches, they tend to bail out at the market's nadir, when things look bleakest -- and when the greatest opportunities present themselves......

:schwitz viele Bären :rolleyes

lunar 08.07.2008 14:22

...aus DasGelbeForum - merci

Georg Schramm zu Falschzitat von Ahmadinedschad

verfasst von Elli, Andalusien, 08.07.2008, 13:59


lunar 08.07.2008 14:32

Iraq insists on withdrawal timetable

Jul 8, 9:19 AM (ET)

(AP) U.S. Army Sgt. John Orem, right, and Staff Sgt. Eric Atkinson, left, from 4th Squadron, 2nd...

BAGHDAD (AP) - Iraq's national security adviser says his country will not accept any deal with the United States unless the agreement sets specific dates for the withdrawal of U.S.-led forces. :eek

The comments by Mouwaffak al-Rubaie come a day after Iraq's prime minister first said publicly that he expects the pending troop deal with the United States to have some type of timetable for withdrawal.

President Bush has said he opposes a timetable.

Al-Rubaie told reporters Tuesday the country "will not accept any memorandum of understanding that doesn't have specific dates to withdraw foreign forces."

lunar 08.07.2008 15:29

...also ich hab noch nix angehört - braucht seine Zeit :cool

toothpicker :verbeug
Registered User

Bernie and the rest of the FED criminals should listen to this excellent crash course:

lunar 08.07.2008 17:32

Zitat von lunar

.......listen to this excellent crash course:

...das ist einfach super :supi:supi:supi

lunar 08.07.2008 18:10

Pension plans suffer huge losses

Report says weak markets, credit crunch have drained $280 billion from plans of largest U.S. companies

By Lara Moscrip, contributing writer

Last Updated: July 8, 2008: 10:26 AM EDT

NEW YORK ( -- Falling stock markets around the globe and the credit crunch are putting the pension funds of some of the largest U.S. companies into deeper financial holes, according to a report released Monday.

Since the credit crunch hit last fall, pension plans funded by S&P 1500 companies have lost about $280 billion in assets, according to an actuary at Mercer, a human resources consulting firm.

On paper, the losses from last October tally $160 billion. However, according to Mercer actuary Adrian Hartshorn, the asset losses are closer to $280 billion when pension plan assets and liabilities are considered together. The assets, which totaled roughly $1.7 trillion at the end of October 2007, fell by 17%, leaving about $1.4 trillion in assets at the end of June.

Companies should be concerned, he said, because - assuming no change in the market - a typical U.S. company can expect their pension expenses to increase between 20% and 30% in 2009 :rolleyes That's due to the higher cost of servicing the pension plan's debt and the smaller return from the plan's assets.

"I think it's important for corporations to be aware of what's going on in their pension plans, as corporations would be concerned when any part of its business is performing badly," Hartshorn said.

According to the report, the total losses on pension assets and liabilities from the last day of 2007 through the end ofJune has grown to more than $80 billion.

Part of the loss has been reflected in companies' current financial statements, but many losses incurred since the end of 2007 have yet to hit company balance sheets.

The affected pension plans are qualified and non-qualified plans.

First Published: July 7, 2008: 4:38 PM EDT

lunar 09.07.2008 09:07

:gomadToxic CDOs Given Up for Dead Coming to Life With Pension Funds :gomad
By Jody Shenn July 8 (Bloomberg) -- CDOs are back.

Collateralized debt obligations that helped drive banks to $400 billion of writedowns and credit losses are finding buyers under a different name: Re-Remics.

Goldman Sachs Group Inc. :bad JPMorgan Chase & Co. and at least six other firms are repackaging unwanted mortgage bonds as sales of CDOs composed of asset-backed securities fall to less than $1 billion this year from $227 billion in 2007 because of the global credit crunch. Re-Remics contain parts that are structured to guard against higher losses on underlying loans than most CDOs, allowing holders to sell or retain other sections at lower prices that can translate to potential yields of more than 20 percent.....

.....Banks can increase the total credit quality of their assets by selling off lower-rated pieces and keeping the better part, Matthew Jozoff, an analyst at JPMorgan said. Avoiding downgrades also would prevent the banks from having to hold more capital to protect against losses on the debt.

:kotz Goldman spokesman Michael Duvally, JPMorgan spokeswoman Tasha Pelio and Lehman spokesman Mark Lane declined to comment.

Riskier Re-Remic mortgage securities are ``natural fit'' for hedge funds, according to a June 27 report by JPMorgan's Jozoff and John Sim. The debt offers higher potential yields at a time when it's difficult to borrow to boost returns, they wrote........

full story:

Toxic CDOs Renamed

“What's in a name? That which we call a rose By any other name would smell as sweet.” William Shakespeare, Romeo and Juliet

Bloomberg is reporting Toxic CDOs Renamed Re-Remics, Come to Life With Pension Funds.
Collateralized debt obligations that helped drive banks to $400 billion of writedowns and credit losses are finding buyers under a different name: Re-Remics.

Re-Remic stands for "resecuritizations of real estate mortgage investment conduits,"the formal name of mortgage bonds. They are composed of AAA rated bonds backed by so-called Alt-A mortgages, issued to borrowers with higher credit scores who don't prove their incomes, seek higher debt ratios or buy investment properties.

Holders of mortgage bonds use Re-Remics to separate better- quality from riskier debt. That increases the chance the higher- ranked debt will retain its AAA rating, enhancing its value enough to boost the total worth of the mortgage pool, said Doug Dachille, chief executive officer of New York-based First Principles Capital Management LLC, which oversees $7 billion in fixed-income investments. A bond trading at 40 cents on the dollar could be split into a piece worth 80 cents and another piece that could then be sold cheaply enough to offer returns as high as 20 percent, Dachille said.

Commercial banks and savings-and-loans held more than $370 billion of non-agency mortgage bonds on March 31, according to Federal Deposit Insurance Corp. data. Much of that can only be sold at fire-sale prices after record subprime-mortgage defaults and home-price declines sparked losses on the underlying loans.
ALT-A Garbage Repackaged

All that is really happening here is pools of ALT-A garbage are being further sliced and diced and repackaged with a yellow ribbon with hopes that the buyers will not take a sniff at what's inside.

ALT-A is where all the liar loans are hiding. Those loans are now threatening to bring down Washington Mutual (WM) and Wachovia (WB), which is why the Fed is openly soliciting private equity firms to invest in banks. See Fed Looking To Bend Rules To Aid Banks and Fed's Trojan Horse Offering for more details.

Inquiring minds may also wish to consider a discussion of performance of various ALT-A pools in Is The Inflation Scare Over Yet?

One thing is for certain: Smelly CDOs by any other name will still stink, no matter how many yellow ribbons are tied to the package.

Mike "Mish" Shedlock
Click Here To Scroll Thru My Recent Post List


lunar 09.07.2008 10:16

FunnyMoney :verbeug

This is a MUST read.

The Key To All Market Analysis by Bob Chapman

Read the first 2 or 3 paragraphs, if you have trouble getting through all of it, still make sure you read this section from near the end of it...

So as you can see, based on all of the foregoing, the bond market is crucial to the continuation of the elitist power structure and is the starting point for all market analysis. If the bond market is destroyed, most of the Illuminists themselves will go down with it except for those Illuminists who maintain extremely large gold and silver hoards which consist of many thousands of metric tonnes of bullion, which they keep secretly offshore and in private Swiss vaults as their failsafe. Basically, this means that the leaders of the Illuminati, who have been hoarding gold and silver for centuries, will survive, and their henchman will be beaten, beggared and left for dead as befits them for siding with the evil reprobates and sociopaths at the top of the Illuminist food chain. Essentially, the henchmen will be cannibalized by their thieving criminal bosses, who have acquired their gold and silver bullion through theft, fraud, conquest, colonialist raping of assets and fire-sale purchases from despicable scum-bags like Gordon Brown, the King of Fire-Sale Gold, who sold out the British national gold for what now amounts to a 70% or greater discount from current prices. When gold breaks into five figures, the British people will have been bilked out of 125 billion dollars on the 400 tonnes that Brown sold to people like the Rothschilds at the bottom of the market.

These elitist gold and silver hoards are not only their failsafe against financial disaster, but may well be intended to privately back a new regional currency instead of using governmental reserves for backing. This would give the elitists absolute control over the supply of money and credit. According to these reprobates and sociopaths, we will have a gold standard once again, but this time the Illuminati will have most of the gold, having stolen, leased or swapped it out of our Treasury, and will set the standards, not our government, which will abdicate all financial power to the privately owned Fed. Already, the elitists are seeking, through mouthpiece Hanky Panky Paulson, supreme control over regulation of financial markets through the Fed as well. According to Hanky Panky, it is only natural that the creators of all the financial plagues we are now suffering should be put in total charge of regulating markets to prevent such debacles from happening again. Only in America.

....also ich kann das nicht echt beurteilen - jeder muss selber :rolleyes:o

lunar 09.07.2008 14:49


lunar 09.07.2008 17:07

Twisted Avatar ;)

Here you go ! BANK RUN
Originally Posted by Olmstein
I had better get my money out of Indymac and put it someplace safe like Wamu.

Oh wait, they're toast too.

Hmmmm... Citibank? No, BofA? No.

Mattress? Yes.

Never heard of a mattress run!!

lunar 09.07.2008 18:22

lunar 09.07.2008 21:49
"Um, I'll start off as usual with a short statement and then, uh, take questions," he began. In his statement, he employed the great euphemisms of his profession: the economic "headwinds," the housing "correction," the credit-market "disruption." But, he offered, "the stimulus package will help support . . . spending."

They are stuttering not because they have speech problems. They are stuttering because they are LYING. They are stuttering because they are SCARED. They are also afraid of blurting out the truth. Bernanke doesn't stutter. I suspect, he is simply delusional. He, like Cheney, coldly goes forth and lies with a straight face because he is simply evil. Does he care if poor people can't buy houses?

Of course not. He doesn't see them or talk to them or lord, lives anywhere near them. They are simply another place to park banking profits. Feeding the banking system more dollars. The failure to do this, the failure of the middle class that is now being pounded by inflation caused by the creation of too much lending, too much borrowing from the government to home owners to corporate raiders: all of this is destroying the ability to service loans. Even the upper classes took on far too much debt. The high price of housing caused by the low price of lending has stressed homeowners from top to bottom.

For all parties used this boon to live beyond their means. People making over $1 million a year and people earning less than $30,000 a year all ran up their obligations based on their housing values when house prices were bid upwards due to all this new Funny Money™.

Another common theme here at Culture of Life news is the Japanese carry trade business and the pirate islands that funnel all this lending into the West to be turned into higher-interest debts. This debt pyramid scheme is very deadly. So long as the world's #3 economy insists on handing out loans at far below the rate of Japanese inflation, not to mention global inflation, and so long as Bernanke does the same with 2% lending from the world's #1 economy, we will have worsening global inflation EVEN if lending slows due to lack of ability to pay back these new loans! Both the US and Japan have to recognize their lending rates are the root cause of all inflation. Both must move rapidly to raise rates even if it hurts.

This is because continuing these sub-inflation level lending rates is killing everything and everyone. No one can escape this. The rising cost of gold isn't protecting investments since one has to pay an increasingly inflated price for gold! IT IS INFLATING. The hopes is for it to inflate FASTER than lending is destroying global monetary systems. But the ability of inflation to outrun gold, oil and EVERYTHING is the problem.

NOTHING CAN OUTRUN INFLATION. Inflation is part of the infinity systems. It is, like the Derivatives Beast, a thing of the Outer Darkness and the Cave of Death. When we want infinite wealth, we will get infinite inflation. Until this thing is closed off and we cease wanting infinite anything, we will suffer. And suffer collectively. Every time someone says they escaped this system, this is only temporary. Part of inflation is the collapse of social systems, the collapse of governments, the collapse of global order. Terrible wars can rage for years thanks to this sort of mess. A building worth millions can turn to dust in a minute.....

lunar 10.07.2008 08:26 ist ja super, dass in New Orleans keine andere Sorgen anstehen :bad :ironie

NOPD officer punished for wearing the wrong uniform :dumm

by Brendan McCarthy, The Times-Picayune Wednesday July 09, 2008, 8:41 AM

UPDATE: Riley defends actions, calling punishment "appropriate." Click to read story.

NOPD officer Robert L. Guidry in 2005
With minutes left in the last shift of his 35-year New Orleans police career, Sgt. Bobby Guidry received a call from a supervisor telling him he had been suspended for wearing the wrong uniform shirt, the veteran officer said.

The Police Department confirmed the censure Tuesday, though it quibbled with the term "suspended." Rather, Guidry is "under investigation for wearing the wrong uniform," said Police Department spokesman Bob Young.

Instead of the standard-issue all-black uniform, Guidry, a veteran officer in the city's Uptown 2nd District, chose the powder-blue uniform shirt that he wore to work for more than three decades.

He viewed it as a simple statement, not an affront to rules or department leadership.

"Eighteen people died in the line of duty in that powder-blue shirt while I was with the department," Guidry said. "I went to each of those funerals. I wore that shirt on a Saturday, on my last day, out of respect for them."

Police brass apparently didn't appreciate the sartorial statement, which took place June 28. Young said the improper uniform complaint originated in the 2nd District. The department's Public Integrity Bureau then opened a formal investigation with about 15 minutes left in Guidry's career.

The punishment will not affect Guidry's pension or benefits, but, as it stands now, he will not receive his retired police commission and will not be accepted into the NOPD's reserve unit, for which he had applied, Young said.

Superintendent Warren Riley, who could not be reached for comment, was apprised of the investigation, Young said.

Young said Riley stressed that "an officer has to maintain professionalism at all times, whether it is his first or last day."

For Guidry, the whole affair turned what might have been a bittersweet day simply bitter.

Guidry said a Police Department investigator called him and suggested he "write a letter to the chief and apologize."

He hasn't done that yet.

"What do I apologize for?" Guidry said. "I wore the wrong shirt. . . . I'll take a letter of reprimand, but a suspension? That's rough."

Guidry's attorney, Eric Hessler, said the retired officer will cooperate with investigators but appeal the disciplinary action. He called the timing of the reprimand particularly disrespectful to Guidry's many years of service.

"He was literally moving his stuff from his office into his car," Hessler said Tuesday. "He was basically done."

On his last day, Guidry said his supervisor advised him that he was suspended and a city employee called him days later with the same news. He has since received no paperwork or formal reprimand, and he said he hasn't been interviewed by NOPD internal investigators.

Young disagreed with the term "suspended," but he said Guidry's permanent record will reflect that he "retired under investigation."

The powder-blue uniform shirt had been worn by officers since the Police Department's inception. Riley changed the uniform after Hurricane Katrina to all-black uniforms.

"A lot of uniforms were displaced after the storm, and they wanted to eliminate the possibility of uniforms getting into the hands of criminals," Young said of the change.

Some officers protested the change. Many complained that the all-black uniform was too hot and that it bucked tradition.

Riley, in what some in the Police Department call a move to boost morale, recently announced that the department would revert to powder-blue shirts, probably by the first of the year.

. . . . . . .

Brendan McCarthy can be reached at or 504.826.3301.

...ich weiss - es ist nicht weltbewegend - es bewegt auch die Börse nicht, trotzdem :kopf

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