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lunar 23.09.2008 15:25

Zitat:
Zitat von Vienna

"Nymex ein globales Spielcasino?" :rolleyes :rolleyes :rolleyes

Extreme Preisschwankung
Ölhändler attackieren Börsenaufsicht


von Tobias Bayer (Frankfurt)

Es war die größte Tagesschwankung überhaupt: Um 25 $ kletterte der Ölpreis zeitweise am Montag, um dann wieder abzustürzen. Marktteilnehmer rätseln, was dahinter stecken könnte. Sie fordern von der Aufsicht und der Terminbörse Nymex Aufklärung.

Es ist mal wieder eine unangenehme Situation für die US-Terminbörsenaufsicht CFTC. :gomad :gomad :gomad Seit Monaten versucht die Behörde, den Politikern zu erklären, dass auf dem Ölmarkt fundamentale Faktoren ausschlaggebend sind - und eben nicht Spekulanten. Dazu veröffentlichte sie vor kurzem eine umfassende Analyse mit eben jenem Tenor. Und dann das: Am Montag sprang der Ölpreis an der New Yorker Nymex um 25,24 $ kurzzeitig auf 130 $ pro Barrel (je 159 Liter), brach dann aber wieder ein. Das war die größte Tagesbewegung seit Einführung des Kontrakts 1983. Am Dienstag kostete das Fass dann wieder 106 $.

Die CFTC sah sich am Montagabend zu einer Stellungnahme genötigt: "Wir werden diese Preisbewegung genau analysieren. Wir arbeiten eng mit den Verantwortlichen der Nymex zusammen um sicherzustellen, dass es hier keine Preismanipulationen gibt", teilte CFTC-Chef Walter Lukken in einer Stellungnahme mit. Der Chefermittler der Behörde, Stephen Obie, ergänzte: "Niemand sollte versuchen, unsere Terminmärkte für illegale Geschäfte auszunutzen." :lach :lach :lach :lach :lach

Selbst erfahrene Marktteilnehmer können über die extremen Bewegungen nur den Kopf schütteln. "Durch solche Preisanstiege wie am Montag wird leider wieder der Eindruck verstärkt, dass es sich bei den Terminmärkten um ein Kasino handelt, das reguliert werden muss", :rolleyes :rolleyes :rolleyes schreibt Tim Evans, Rohstoffanalyst bei Citi Futures Perspectives. "Auch die Liquidität könnte zurückgehen, da sich einige Investoren wegen der Volatilität zurückhalten könnten", so Evans.

Terminbörse Nymex in Erklärungsnot

Doch ein Kasino? HDie New York Mercantile Exchange steht in der KritikNicht nur die CFTC steht jetzt in der Bringschuld. Experten nehmen auch die Terminbörse Nymex in die Pflicht. Seit Jahren gibt es Kritik an dem Future auf das Rohöl West Texas Intermediate (WTI). Der Vorwurf: Das physische Volumen der amerikanischen Rohölsorte nimmt ab, gleichzeitig gibt es am Lieferort Cushing im Mittleren Western der USA Transport- und Lagerengpässe. Diese Infrastrukturdetails sind im Fall WTI wichtig, weil Terminkontrakte zum Laufzeitende physisch beglichen werden. Kann ein Händler, der eine Verkaufsposition hat, nicht liefern, weil er kein physisches Öl findet oder den Lagerort nicht erreicht, kommt es zu einem sogenannten "Short squeeze". Das wiederum führt zu extremen Preisspitzen.

Investoren fordern nun schnell Aufklärung von der Nymex. Denn: Die Preisspitze trat zum Laufzeitende des Kontrakts ein. "Die Nymex muss schnell eine Erklärung liefern. War es einfach eine falsche Transaktion, die das alles ausgelöst hat, oder hatte es mit der Infrastruktur zu tun", schreibt Olivier Jakob, Managing Director beim Researchhaus Petromatrix. Hätte es ein Problem mit der Infrastruktur gegeben, hätte die Nymex "Force Majeure" ausrufen müssen. Diese Klausel befreut die Vertragsparteien von ihren Verpflichtungen. Die Handelsvolumina seien zumindest nicht auffällig gewesen, so Jakob: "Das Ausmaß des Open Interest war jedenfalls nicht außergewöhnlich. Es war also nicht so, dass es an einer zu großen Position lag." Als Open Interest wird die Anzahl offener Positionen bezeichnet.

....ich frage mich - steckt da eine Absicht dahinter, ich könnte mir vorstellen Herr Paulson wäre delighted auch die Nymex unter Aufsicht zu stellen :gruebel

lunar 23.09.2008 15:51

CNBC Mark Haines :supi (normalerweise nicht mein cup of tee :rolleyes) - bailout MainStreet and let Wallstreet...they created this mess :cool

lunar 23.09.2008 16:14

1 Anhang/Anhänge
23 September 2008

Whitney Cuts Banks and GDP Outlook, Senators Preen and Posture


The Senators ask this morning how to regain the public's confidence in the financial system, and we would like to add, in the government, the Senators themselves.

They don't want to hear the answer, but here it is.

Stop lying. Stop manipulating. Stop deceiving. Stop taking things that are not yours. Stop trying to defraud people. Stop favoring people who give you money and favors. Stop selling things under false pretenses. Stop manipulating the news and the markets as you are doing this morning once again.

The Lehman bankruptcy proceedings seem to be moving forward reasonably well. Let's assess how that is going, and if it is appropriate, let's try it again and see what happens. We'd vote for Goldman Sachs.

Start acting transparently, openly, honestly. (...ob die wissen was das ist :gruebel)

Some of you are deeply complicit in this fraud that was perpetrated on the American public and the world. Do the right thing and step aside. Resign. No one will trust you now. Sorry but that is how life works. We are a forgiving people, maybe a little slow at times, but not completely stupid.

Then we might begin to move forward again, but slowly.

But we cannot move forward without a more reasonable appreciation of the facts. Here is what a reasonable outlook on the economy looks like, not the dissembling of Paulson and Bernanke.



Analyst Whitney sees "little hope" from bailout plan
Tue Sep 23, 2008 8:42am EDT

Sept 23 (Reuters) - The credit crisis that began last summer has intensified so much that any U.S. government bailout plan has "little hope" of improving core fundamentals over the near and medium term, said analyst Meredith Whitney, who expects the country's GDP to take a hit from likely moves by state governments to cut costs.....

full story: http://jessescrossroadscafe.blogspo...tlook-sees.html

:supi ---> (Bloomberg) -- One of the rare inspirational subplots of our current financial panic has been the rise of Meredith Whitney. An obscure and little-noticed analyst of Wall Street banks, working for an obscure and little-noticed Wall Street bank (Oppenheimer & Co.), Whitney has become, in a matter of months, a woman who moves markets.(....and she's got balls :cool)

lunar 23.09.2008 16:26

e-mail circulating…perhaps you can help…

-> Posted by cannuckgold @ 10:21 am on September 23, 2008
I almost missed this email because it was diverted to my spam folder. But apparently Paulson is sending this around:
Dear American: I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.

I am Ministry of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 800 billion dollars US. If you would assist me in this transfer, it would be most profitable to you.

I am working with Mr. Phil Gram, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January. As a Senator, you may know him as the leader of the American banking deregulation movement in the 1990s. This transactin is 100% safe.

This is a matter of great urgency. We need a blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.

Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.

Yours Faithfully Minister of Treasury Paulson




:ironie oder täusche ich mich :confused:rolleyes:gruebel



lunar 23.09.2008 18:15

From Times Online

September 23, 2008

CEO murdered by mob of sacked Indian workers

( Parth Sanyal/Reuters)

Thousands of protesters recently forced Tata to halt work on the plant being used to produce the world's cheapest car

Rhys Blakely, Bombay

Corporate India is in shock after a mob of sacked workers bludgeoned to death the chief executive who had dismissed them from a factory in a suburb of Delhi.

Lalit Kishore Choudhary, 47, the head of the Indian operations of Graziano Transmissioni, an Italian-headquartered manufacturer of car parts, died of severe head wounds on Monday afternoon after being attacked by scores of laid-off employees, police said.

The incident, in Greater Noida, just outside the Indian capital, followed a long-running dispute between the factory's management and workers who had demanded better pay and permanent contracts.....

.......In a statement issued from Rivoli in Italy, Graziano said that some of Mr Choudhary's attackers had no connection to the company. It added that the chief executive was killed by "serious head injuries caused by the intruders." "We absolutely condemn the attack," Marcello Lamberto, the head of Oerlikon Segment Drive Systems, which owns Graziano, said........


full story: http://www.timesonline.co.uk/tol/ne...icle4810644.ece

....das kann man ja schlecht kommentieren - da letztendlich keine Kenntnisse der wirklichen Umstände - aber abgesehen davon, im Volk gärt es - diese Ungerechtigkeiten weltweit führen zu solchen Taten :rolleyes

lunar 23.09.2008 18:59

Apollo
Registered User

700 BILLION, BIG HAT NO CATTLE



lunar 23.09.2008 19:00

Senator Jim Bunning Comments on Federal Bailout

http://www.youtube.com/watch?v=J7ULDnJBA1w&eurl

lunar 23.09.2008 19:51

1 Anhang/Anhänge
:rolleyes.

lunar 23.09.2008 20:02

23 September 2008

How are George W. Bush and Hugo Chavez Alike?
"I nationalize strategic companies and get criticized,but when Bush does
it, it's OK," Chavez said on weekly television program Sept. 21. "Bush is turning
socialist. How are you, comrade Bush?"

Hugo Chavez
Like many people, Hugo Chavez is directionally correct is thinking that George W. Bush is acting excessively in the manner of a socialist, but wrong in one particular that may not be incidental.

Granted both men are statists. That is, they hold the power of the government, the state, of the few, to be pre-eminent over the rights of the individuals, of the worth of the human being when compared to their will to power.

Therefore both men would support the subordination of individual rights and wealth and distributing them as they see fit, as the state decides, outside of the normal process of taxation and public pursuits.

There is something inherently social in society, because some common purpose is the reason that societies exist. It is the limitations on that commonality with regard to individual rights that makes the difference between a social democracy and socialism.

Chavez decides to give favors and wealth putatively to the people, therefore he is a socialist. To the extreme, a socialist is one or two failures away from communism and then Stalinism, when the government fails so badly it must continually beat the people into submission because it has nothing productive to give.

Bush gives it to his friends and powerful corporations through no-bid contracts, selective tax cuts, and de facto or actual deregulation and decriminalization of the familiar frauds and schemes. He is a corporatist, one or two emergency orders removed from fascism, in which the people must be reduced to a form of debt peonage and service to the state and its surrogates, the corporations.

Is it an accident that the Bush administration sanctioned torture, illegal wiretapping, invasions of personal privacy, almost unprecedented secrecy, and executive actions? Is there any wonder Paulson would have the nerve to submit a proposal demanding $700 billion for a few Wall Street banks without any oversight and the suspension of the due process clause of the Bill of Rights?

Here is a chart that helps one to understand how little difference there can be between the approaches at the extremes. Both are unacceptable when measured by laws that respect the rights of individuals with the context of society. This is why it has been so easy for the neo-cons to move from the far left to the extreme right.



Rather than choosing socialism or fascism based on how well we think we might do, at some point the individual must stand for the principles that made America what it has been, or be consumed fear and greed, and then by the state.

We must agree to protect uphold and defend the Constitution of the United States of America.

The 'how' of that is not so straightforward, and has led to many interesting confrontations and evolutions throughout our history. But we have never abandoned it completely, never said it was worthless or outmoded, and always returned to it over time. This is what makes America what it has been, what it is, what it still can be.

Let us return to a government, of the people, by the people, for the people, again.





:verbeug Posted by Jesse at 12:00 PM

lunar 23.09.2008 20:34

The Killers are with the Patient

Darryl Robert Schoon
Posted Sep 23, 2008

There is nothing more dangerous than when those responsible for a nation's troubles are believed to be its savior.

The Wall Street Journal had one fact correct regarding Wall Street's accelerating collapse when on September 20th they wrote: When government officials surveyed the failing American financial system this week, they didn't see only a collapsed investment bank or the surrender of a giant insurance firm. They saw the circulatory system of the U.S. economy - credit markets - starting to fail.

The Wall Street Journal was correct in that the circulatory system of the US economy was failing. Because the Wall Street Journal is the house organ of Wall Street investment banks and their co-conspirators in government, the Wall Street Journal blamed deteriorating credit markets for America's troubles, not those responsible - to wit, Alan Greenspan, Ben Bernanke, and their cohorts at the Federal Reserve Banks.

ALAN GREENSPAN'S BASTARD SON

Ben Bernanke, Alan Greenspan's surrogate successor at the Federal Reserve is using Greenspan's discredited playbook to hopefully resuscitate America's economy. But pouring more credit into America's stalled economy will not restart the US economy anymore than pouring gasoline into a flooded engine will restart an engine....

full story: http://www.321gold.com/editorials/s...hoon092308.html

lunar 23.09.2008 21:15

Tuesday, September 23, 2008

"Hedge funds suffer mass redemptions"


One sign that the credit crisis is accelerating: Nouriel Roubini's forecasts are coming to fruition faster.

In the past, Roubini has too often played the role of seemingly mad prophet in the wilderness until he is proven correct. His calls that the housing bubble would collapse in a nasty way, that subprime was most certainly not contained, that Freddie and Fannie would get in trouble, that total credit crunch losses would reach $2 trillion, all sounded apocalyptic and were generally ignored, to the detriment of those who failed to take heed.

The time between Roubini making a dire forecast and it coming to pass has just collapsed. From yesrday's Financial Times:
The next stage will be a run on thousands of highly leveraged hedge funds. After a brief lock-up period, investors in such funds can redeem their investments on a quarterly basis; thus a bank-like run on hedge funds is highly possible. Hundreds of smaller, younger funds that have taken excessive risks with high leverage and are poorly managed may collapse. A massive shake-out of the bloated hedge fund industry is likely in the next two years.....

full story: http://www.nakedcapitalism.com/2008...edemptions.html


Kommentare immer wieder interessant ;)
Dear Mr. Smith! I really enjoy your articles, but I would like to say something about the wording of this title. Hedge funds cannot "suffer" they have no feelings. In my opinion emotional words like that don't make the style more colorful, on the contrary, it makes an unintentionally cynical impression. How many people, whole countries really suffered because of these Hedge Fund? And no newspaper wrote the title "People suffering because of Hedge Fund attack".

Sincerely

donna said... Why don't we just make Roubini the Treasury Secretary and get rid of the ineffective idiot Paulson?



lunar 23.09.2008 21:43

Mr. Market Will Have His Say

By: Bill Bonner & The Daily Reckoning Crew
-- Posted Tuesday, 23 September 2008 | Digg This Article | Source: GoldSeek.com

London, England
Tuesday, September 23, 2008

---------------------

*** Another exciting day in the world of money…gold ETFs aren't looking as good as they used to…

*** The Feds are trying to serve Mr. Market a gag order…the gold price continues to go up, up, up…

*** He's baaaaaack…Friedman mistakes wishes for thoughts…and more!



"The time to fix this mess was a couple of years ago," chimes in Dan Amoss. "Unless our political leaders understand how we got here in the first place, 'fixing' the system with regulation will only make things worse. Unfortunately, based on the public statements we've heard thus far, future regulations will likely include measures that throw savers and taxpayers under the bus. But on the bright side, such an environment would make it even easier to make money on the short side of the stock market. We'll know more after this fall's elections add some visibility to what is now an ad hoc response to each new crisis."

*** Mr. Market has something to say about what things are worth. The feds, however, want to serve him with a gag order.....

full (long) story: http://news.goldseek.com/DailyReckoning/1222197355.php

lunar 23.09.2008 22:29

Kategorie Wallstreet
 

Kategorie Nature: David Maitland, "Who Eats Who


Posted by honey


lunar 24.09.2008 08:11

  • :rolleyes





    Goldman Sachs will receive a $5 billion investment from Warren Buffett and raise $2.5 billion more through a share offering. Buffett will be interviewed on CNBC at 8 am Wednesday.
....da hoffe ich doch sehr, dass er sich eine blutige Nase holt :o ich befürchte zwar - er wird mit Hilfe vom Rest der Wallstreet noch reicher werden :mad


**************************


23 September 2008

Warren Buffet Goes Dumpster Diving and Gets the Gold, Man


Goldman is paying Warren a pretty rich return for his buy-in.

Did they give up hope on Hank and Ben for a government handout?

Or did Warren just decide to get a place at the table with the new ruling power in the US?



American Banker
Berkshire to Buy $5B of Preferred Stock from Goldman Sachs
By Jack Herman
September 23, 2008


***********************************************


Buffett to buy $5 Billion

September 23rd, 2008 in Goldman perpetually preferred stock. I can hear it now, IF Buffett is buying it - it must be good and safe. Of course no one else can buy this perpetually preferred stock but we can sell you this stuff over here that is just regular old stock!

CROOKS, I tell you they are all CROOKS! :supi


**********************************************


Breaking News: Goldman Sachs Now A Value Investment

Posted by alyx under goldman sachs
1 Comment
Coca-Cola, apple pie and Goldman Sachs! Warren Buffett just made a $5 billion dollar equity investment in Goldman…



Forbes says it’s a good deal:

The deal is a tour de force for both companies. Berkshire is getting perpetual preferred stock with a 10% yield, a juicy return in the currently unsettled financial market. Goldman can buy the shares back at a 10% premium to the purchase price, but Berkshire is getting warrants to buy $5 billion in Goldman common shares at $115 each. That’s already a bargain, as Goldman’s stock jumped to $136.50 in after-hours trading, up from $125.05 during the regular session.

For Goldman, the arrangement serves a dual purpose: The firm, the least damaged by the subprime mortgage crisis, among Wall Street’s bulge bracket, gets the imprimatur of the world’s richest investor on its shares. Additionally, with the funds from Berkshire and the planned public offering, Goldman is well positioned to purchase depressed assets in rattled financial markets.

Interesting. I do wonder if Treasury, et al nudged this one along. :Prost :mad

lunar 24.09.2008 08:17

1 Anhang/Anhänge
Fed Acted Like a Liquidity Drug Dealer: Economist

By CNBC.com | 23 Sep 2008 | 05:10 AM ET

The Federal Reserve, which has encouraged excessive borrowing, is to blame for the credit crunch that has gripped world markets for more than a year, Marc Faber, the author of the Gloom Boom & Doom Report, told CNBC on Tuesday.

"About 15 percent of U.S. households have negative equity. Who supplied the leverage into the system? It's called the Federal Reserve Board," Faber said.

"If I'm the drug dealer I'm not responsible that everybody takes drugs, but I facilitate it, especially if I give it out free of charge, I can enlarge the market share, and that's what the Fed has done.".......

.....Short-Selling Ban "Stupid"Volatility comes from the fact that, as the private sector tightens lending conditions to adjust its risk management, central banks are injecting liquidity in the money markets to grease the system, he said, adding that banning short-selling will not contribute to reducing volatility and was a "stupid measure.".......


full story: http://www.cnbc.com/id/26848829 mit Video

Zitat:
Zitat von Hoka
http://www.stock-channel.net/stock-...&postcount=3512
Marc Faber mit cooler Krawatte.
;)

lunar 24.09.2008 08:34

I am speechless - these guys are a total joke

September 23rd, 2008 Bernanke and Paulson want the government to pay 70-75 cents on the dollar for bad illiquid loans that were just sold in the MARKET for 20-25 cent on the dollar. Now that is absolutely the most absurd thing I have heard since last night! As you will remember, Bill Gross, said that this was NOT a bailout but is an INVESTMENT by the FED.

http://www.bloomberg.com/apps/news?...id=aqCh43qzoq5M

Merrill Lynch & Co. in July sold more than half of its mortgage-linked collateralized debt obligations for about a fifth of their original price, setting a price for those securities at that time.

Bernanke’s remarks today indicate he favors paying above the market rate. “We cannot impose punitive measures on the institutions that choose to sell assets,” the Fed chief said today. “That would eliminate or strongly reduce participation and cause the program to fail.”

“They are basically saying, `Let’s take a best-case scenario, let’s assume we don’t have losses,”’ said Julian Mann, vice president at First Pacific Advisors LLC in Los Angeles. “Home prices continue to deteriorate. There are real losses here.”

Political Shield

The pricing method Bernanke is advocating would also provide a political shield, analysts said. Congress wouldn’t be able to see if prices fell during a quarter, nor would they be able to push the Treasury to sell if they saw the value of the securities rise. That would also protect the market from the sense of an overhang if in fact the government did acquire a $700 billion pool of mortgage-related assets.

“The plan allows you to hold the assets off the market,” says Bradley Hintz, former chief financial officer at Lehman Brothers Holdings Inc. and now an analyst at Sanford C. Bernstein & Co. Inc. It treats the Treasury as “an investor with a perpetual life span, an infinite amount of money, and no commercial interests.”

lunar 24.09.2008 08:37

Originally Posted by Cyclist
The Fed is in a box of their own making.The greatest danger to the system
are not the banks at the moment but the hedgefunds
.Their structure is leverage and will not get the preferential treatment from the Fed as the banks do.As long as the Fed takes in the toxic loans from the banks at its face value ,things will work out as long as the foreign Central banks accept
the dollar by buying treasury paper.If there are no takers the dollar will sink
to new alltime depths,this will make the commodities double and triple priced in dollars.However the hedge funds are stuck in illiquid investments and will
blow up if the commodities start to advance in a big way as you saw the price of oil on the spot market take a huge jump of 25%.If more commodities
are going into the same direction because the dollar is sinking ,the next one to watch is the Yen.This carrytrade has the making of a Tsunami when this one is starting to unwind.Gold will rise like a rocket and there will be no Central bank stepping in to sell their hoard in order to stabilise the price.
Following that scenario ,you will see a run on the banks after the ATM
machines shut down.We will see a bank holiday with the ensueing chaos.
My recipe is to have at least three month cash on hand and the rest
to have in gold coins.Stockmarkets will be shut as well and martial law will be instituted. My take is,be prepared , cities will be death traps

:confused:rolleyes:schwitz

lunar 24.09.2008 09:37

FBI Looking for Financial Misdeeds on Wall Street


May as well throw a cordon around Manhattan and bring in everyone wearing a power tie, suspenders, or designer shoes from Bergdorf's.
"...the FBI's hunt for culprits in the nation's subprime mortgage crisis focused on accounting fraud, insider trading, and failure to disclose the value of mortgage-related securities and other investments."
Associated Press
FBI investigating companies at heart of meltdown
By LARA JAKES JORDAN
09.23.08, 8:09 PM ET

WASHINGTON - The FBI is investigating four major U.S. financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration, The Associated Press has learned.

Posted by Jesse at 9:22 PM :verbeug

lunar 24.09.2008 10:04

.....McCain cautioned against granting unchecked authority to Paulson, saying he is "greatly concerned that the plan gives a single individual the unprecedented power to spend $1 trillion on the basis of not much more than 'Trust me.'"
In a statement to reporters, McCain urged the creation of a bipartisan oversight board to review the government bailout rather than entrusting Paulson with complete power to craft it......

http://news.yahoo.com/s/ap/20080922.../campaign_rdp_3

....na hoffentlich wird diese Gefahr erkannt - ausnahmsweise :supi für Mcain

lunar 24.09.2008 11:18

Terry Gross/Fresh Air & Bill Moyers/Journal

-> Posted by GoldBalloon @ 5:02 am on September 24, 2008
Bill Moyers had a good interview with Gretchen Morgenson and Floyd Norris about Paulsen’s Pit:

http://www.pbs.org/moyers/journal/09192008/watch.html


Terry Gross did a much longer, more extensive interview of Gretchen Morgenson, worth listening to:

The Wall Street Bailout: A Conflict Of Interest?

With the markets in flux and a massive government rescue package in the works, New York Times columnist Gretchen Morgenson looks into potential conflicts of interest in the nearly $700 billion deal.

http://www.npr.org (home site: http://www.npr.org/home)

lunar 24.09.2008 11:45

Fed plows $30 billion in money markets overseas :rolleyes

Wednesday September 24, 1:42 am ET
By Jeannine Aversa, AP Economics Writer

Federal Reserve plows $30 billion into money markets overseas to ease credit stresses WASHINGTON (AP) -- The Federal Reserve, in coordinated action with foreign central banks, plowed $30 billion into money markets overseas Wednesday, part of an ongoing effort to fight a global credit crisis.The Fed's action -- taken at 1 a.m. EDT -- sets up temporary "swap" arrangements to supply dollars to the central banks of Australia, Denmark, Norway and Sweden in exchange for their currencies.

"These facilities, like those already in place with other central banks, are designed to improve liquidity conditions in global financial markets," the Fed said in a brief statement.

"Central banks continue to work together during this period of market stress and are prepared to take further steps as the need arises," :rolleyes the Fed added....

full story: http://biz.yahoo.com/ap/080924/fed_credit_crisis.html

....wieviel Geld wird denn noch denen in den Hintern geblasen :mad

lunar 24.09.2008 13:36

Dirty Secret Of The Bailout: Thirty-Two Words That None Dare Utter


September 22, 2008 02:06 PM




A critical - and radical - component of the bailout package proposed by the Bush administration has thus far failed to garner the serious attention of anyone in the press. Section 8 (which ironically reminds one of the popular name of the portion of the 1937 Housing Act that paved the way for subsidized affordable housing ) of this legislation is just a single sentence of thirty-two words, but it represents a significant consolidation of power and an abdication of oversight authority that's so flat-out astounding that it ought to set one's hair on fire. It reads, in its entirety:
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
.......Nevertheless, the fact that Section 8 of the Paulson plan seems to strike few as a de facto dealbreaker can and should astound. The failure of Congress to hold the line on this point would be truly embarrassing. But if we make it through this week with nobody in the press specifically informing the public about the implications of this single sentence - in the middle of a complicated bill, in the middle of a complicated time - then right there, you have the single largest media failure of this year.

full story: http://www.huffingtonpost.com/2008/...o_n_128294.html

:dumm dass das noch nicht zerpflückt wurde ist mir unverständlich und peinlich sollte McCain wirklich der Einzige sein, der sich daran stört :kopf

lunar 24.09.2008 13:43

Let's Play "WALLSTREET BAILOUT" The Rules Are... Rep Kapture

http://www.youtube.com/watch?v=zHmv...feature=related :supi:supi:supi

lunar 24.09.2008 14:42

1 Anhang/Anhänge
....no better firm on Wallstreet - it's everyone's problem :confused:rolleyes:mad

lunar 24.09.2008 15:28

ozymandius (1000+ posts) Wed Sep-24-08 05:59 AM
Response to Reply #5 11. Analysis: This is not a confidence measure. Vote of confidence? Hardly. Doubtful. It is merely an opportunistic deal, and probably a damn good one, for Berkshire Hathaway (BRK). On the other hand, for Goldman Sachs, it is a very expensive deal. If you delve beneath the headlines, you see that Warren is not so much making a vote of confidence as he is extracting pound of flesh (and then some).

Verily, let's look at the details to figure out just how much GS is paying for this capital:

• Goldman Sachs pays a fat dividend to Berkshire Hathaway of 10% on $5 Billion dollars -- that's $500 million per year. And, since this is a preferred, it gets paid out of net income in after tax dollars dollars. Ouch.

• Goldman gets the right to call the preferred at any time at a 10 percent premium. Ouch again.

• Buffett gets $5 billion worth of warrants with a strike price of $115, or about 43.47 million shares. The warrants are good for only 5 years.


http://bigpicture.typepad.com/comments/2008/09/i-got-75...

lunar 24.09.2008 16:38

:rolleyes:o

Bank of New York's $22.5 billion headache

The Russian government is suing the Bank of New York for smuggling cash out of the country. Can a U.S. bank get a fair trial in Moscow?

By Roger Parloff, senior editor
Last Updated: September 24, 2008: 7:22 AM ET

Russia's billionaire boys club
A handy guide to the oligarchs riding high on Russia's resources boom. They've stormed London and French resorts. Could they be coming to a neighborhood near you? View photos



More Videos

(Fortune Magazine) -- Inside a rundown government building on Novaya Basmannaya Street in Moscow, a bizarre lawsuit is playing out involving $7.5 billion in illicit money transfers and America's ninth-largest bank.

The Russian government is suing the Bank of New York Mellon (BK, Fortune 500) under the U.S. civil RICO statute - the Racketeer Influenced and Corrupt Organizations Act - seeking $22.5 billion.
full story: http://money.cnn.com/2008/09/23/new...rtune/index.htm

lunar 24.09.2008 16:46

Octafish (1000+ posts) Sun Sep-21-08 10:50 PM
Original message Know your BFEE: Phil Gramm, the Meyer Lansky of the War Party, Set-Up the Biggest Bank Heist Ever.



The Sting

In the best rip-off, the mark never knows that he or she was set up for fleecing.
In the case of the great financial meltdown of 2008, the victim is the U.S. taxpayer.
Going by the lack of analysis in Corporate McPravda, We the People are in for a royal fleecing.



Don’t just take my word about the current situation between giant criminality and the politically connected.

You see, there is evidence of conspiracy. An honest FBI agent warned us in 2004 about the coming financial meltdown and the powers-that-be stiffed him, too.

The story’s below. And it’s not fiction. It is true to life.



........................(Link anklicken für alles)

Who Should Pay for the Bailout

If you are fortunate enough to be one, good luck American taxpayer! You’re in for a royal fleecing. Once the interest is figured into the bailout, we’re looking at a couple of trill.

The people who should pay for the bailout aren’t the American people. That distinction should go to the crooks who stole it -- friends of Gramm like John McCain and George Bush and the rest of the Raygunomix crowd of snake-oil salesmen. For them, the Bush administration -- and a good chunk of time since Ronald Reagan -- has not been a disaster. It’s been a cash cow.



“C’mon! Let’s get these Bush bastards!”

http://www.democraticunderground.co...ess=389x4055207

lunar 24.09.2008 18:02

1 Anhang/Anhänge
24 September 2008

Ben's Policy Error: the Bankers Rescue in 1929

We finally figured out Ben's game. It was in his explanation of why the Treasury should pay well over market prices for the toxic bank debt held by Wall Street. (We're not willing yet to speculate on Hank's game yet.)
...several leading Wall Street bankers met to find a solution. The group included Thomas W. Lamont, acting head of Morgan Bank; Albert Wiggin of the Chase National Bank; and Charles E. Mitchell, of National City Bank. They chose Richard Whitney, vice president of the Exchange, to act on their behalf.

With the bankers' financial resources behind him, Whitney placed a bid to purchase a large block of shares in U.S. Steel at a price well above the current market. As amazed traders watched, Whitney then placed similar bids on other blue-chip stocks.
Although a similar such tactic had ended the Panic of 1907, this action halted the slide that day and returned stability to the market only temporarily.
As you know Bernanke is a student of financial crises, and the Crash of 1929 and the Great Depression in particular.

This morning in response to a question about why the Treasury should not penalize or demand anything in return from the banks for buying distressed assets in return for the risk, and pay closer to 'hold to maturiy prices, Ben said that this 'would not be fair since all the banks stand to benefit from this action.'

The point of this exercise is not to help some banks or two or three banks who are in trouble.

The point of this exercise is to try and support the debt markets by buying assets at prices well above the market, and to do it quickly to forestall a likely stock market crash.

This is eerily similar to the actions taken by the Morgan's Lamont and the NY banks in putting together a pool of money, and halting the Crash of 1929 by having Dick Whitney walk across the street, and loudly start buying stocks at above market prices to "restore confidence" in the markets. This did work, for a day.

It is also similar to a tactic Morgan himself and the bankers used in 1907 to halt the liquidity panic caused by some specific bank failures caused by overextention in bad assets.

Why are these policy failures? We think they are because buying assets above market price will not stop this juggernaut of a collapsing bubble, and will merely throw 700 billion down a hole, specifically benefiting a remarkably few individuals who will skim most of it before it is obliterated. It will inflate the currency and soon be exhausted. It will accomlish nothing and only make it worse for all.

In short, Bernanke's proposal fixes NOTHING. It merely provides some getting out of town money for some of the worst of the perpetrators of this financial fiasco.

That's why he needs this today or tomorrow. Because the US equity markets are in the process of crashing. And he is attempting the same type of banker's rescue that was attempted in 1929.
There came a Wednesday, October 23rd, when the market was a little shaky, weak. And whether this caused some spread of pessimism, one doesn't know. It certainly led a lot of people to think they should get out. And so, Thursday, October the 24th -- the first Black Thursday -- the market, beginning in the morning, took a terrific tumble. The market opened in an absolutely free fall and some people couldn't even get any bids for their shares and it was wild panic. And an ugly crowd gathered outside the stock exchange and it was described as making weird and threatening noises. It was, indeed, one of the worst days that had ever been seen down there."

"There was a glimmer of hope on Black Thursday...About 12:30, there was an announcement that this group of bankers would make available a very substantial sum to ease the credit stringency and support the market. And right after that, Dick Whitney made his famous walk across the floor of the New York Stock Exchange.... At 1:30 in the afternoon, at the height of the panic, he strolled across the floor and in a loud, clear voice, ordered 10,000 shares of U.S. Steel at a price considerably higher than the last bid. He then went from post to post, shouting buy orders for key stocks."

"And sure enough, this seemed to be evidence that the bankers had moved in to end the panic. And they did end it for that day. The market then stabilized and even went up."

"But Monday was not good. Apparently, people had thought about things over the weekend, over Sunday, and decided maybe they might be safer to get out. And then came the real crash, which was on Tuesday, when the market went down and down and down, without seeming limit...Morgan's bankers could no longer stem the tide. It was like trying to stop Niagara Falls. Everyone wanted to sell."

"In brokers' offices across the country, the small investors -- the tailors, the grocers, the secretaries -- stared at the moving ticker in numb silence. Hope of an easy retirement, the new home, their children's education, everything was gone."
Posted by Jesse at 11:25 AM :verbeug

lunar 24.09.2008 19:48

Rep. Ron Paul, R-TX asks Fed chairman Ben Bernanke about the current state of the economy.

http://www.cnbc.com/id/15840232?video=866316752

lunar 24.09.2008 20:42

...eigentlich müssten den Politikern die Ohren schlackern :rolleyes aber vielleicht lesen sie auch nicht.....

Arianna Huffington puts it best:
See if this sounds familiar:

There is a gathering threat to the safety of the United States. We must take immediate action. Congress must quickly grant the President and the Secretary what they want and also give them full and unfettered authority to execute the plan.

Welcome to Economic Shock and Awe (or as some have dubbed it, according to Paul Krugman, "the Authorization for Use of Financial Force").

Even the amount of taxpayer money being bandied about -- $1 trillion -- is similar. Think you got your money's worth for the Iraq war? Congratulations -- you're about to buy another pricey debacle.

We've seen how negligent the Bush administration is with our money -- flushing billions on wasteful, mismanaged Iraq reconstruction and Katrina recovery projects.

Now the same folks who brought us those no-bid, profit-guaranteed, crony-friendly, war-and-disaster-profiteering boondoggles want us to hand them control of a $700 billion Wall Street slush fund -- with no strings attached. How dumb -- or frightened -- do they think we are?

full story: http://boombustblog.com/index.php/2...0.html#comments

syracus 24.09.2008 21:23

Methane 'escaping' from Arctic sea bed

ITN - Tuesday, September 23 10:23 am

Scientists fear the rate of global warming could accelerate due to the escape of methane from beneath the Arctic seabed. Huge methane deposits are rising to the surface as the Arctic region heats up, according to preliminary findings.

Researchers found massive stores of sub-sea methane in several areas across thousands of square miles of the Siberian continental shelf and observed the gas bubbling up from the sea floor through "chimneys", according to reports.

One of the expedition leaders, Orjan Gustafsson, of Stockholm University in Sweden, said researchers had found "an extensive area of intense methane release".

Mr Gustafsson said: "At earlier sites we had found elevated levels of dissolved methane. Yesterday, for the first time, we documented a field where the release was so intense that the methane did not have time to dissolve into the seawater but was rising as methane bubbles to the sea surface. These 'methane chimneys' were documented on echo sounder and with seismic [instruments]."

The researchers believe escaping sub-sea methane - which is around 20 times more damaging than carbon dioxide - is connected to the recent rises in temperatures in the Arctic region.

He added: "The conventional thought has been that the permafrost 'lid' on the sub-sea sediments on the Siberian shelf should cap and hold the massive reservoirs of shallow methane deposits in place.

"The growing evidence for release of methane in this inaccessible region may suggest that the permafrost lid is starting to get perforated and thus leak methane. The permafrost now has small holes.

"We have found elevated levels of methane above the water surface and even more in the water just below. It is obvious that the source is the seabed."

http://uk.news.yahoo.com/itn/200809....html?printer=1

Geht das erstmal richtig los, müssen wir uns über CO2-Einsparungen, Treibhaus usw, keine Gedanken mehr machen, die kommen in dem Fall dann schlicht zu spät und sind zu gering :schwitz

lunar 25.09.2008 08:48

...must see
 
Daily Show Calls Paulson "Baron Von Moneypants" (VIDEO) :supi:supi:supi

huffington_post:http://www.huffingtonpost.com/2008/...n_n_128900.html

Comedy Central | September 24, 2008 11:29 AM

Desperate times call for ridiculous Photoshopping of extremely important people, or so goes the digital age's comedy mantra. For such Photoshopping, we turn to the Daily Show.

In addition to calling Treasury Secretary Henry Paulson "Baron Von Moneypants," the Daily Show's Jon Stewart observed, "For anybody out there who's been living in a cave: congratulations, you've apparently made the soundest real estate investment possible."

http://www.huffingtonpost.com/2008/...n_n_128900.html

lunar 25.09.2008 09:59

:verbeug

RL100
Registered User
Join Date: Nov 2007

Quote:
Originally Posted by Matt-themaddog-Dollar

How in the hell does Jim "Willie" CB know that a comex default is in progress?

In his last article he claimed that the AIG bailout package included a clause that would allow banks/brokerages "to use private individual brokerage account funds to relieve their own liquidity pressures."

http://www.kitco.com/ind/willie/sep182008.html

This guy never cites sources for his most important statements. Is he full of crap? Why doesn't he just cite his sources?


Another Jim Willie talk posted on similar subject 9/24. He sounds like he's fleshing out what Jim Sinclair has been warning us about for a long time.

http://www.contraryinvestorscafe.com....php?media=134

lunar 25.09.2008 11:22

1 Anhang/Anhänge
History of U.S. Gov't Bailouts

September 22, 2008 1:35 pm EDT

Penn Central Railroad 1970 In May 1970, Penn Central Railroad, then on the verge of bankruptcy, appealed to the Federal Reserve for aid on the grounds that it provided crucial national defense transportation services. The Nixon Administration and the Federal Reserve supported providing financial assistance to Penn Central, but Congress refused to adopt the measure. Penn Central declared bankruptcy on June 21, 1970, which freed the corporation from its commercial paper obligations. To counteract the devastating ripple effects to the money market, the Federal Reserve Board told commercial banks it would provide the reserves needed to allow them to meet the credit needs of their customers. $3.2 billion
Lockheed 1971 In August 1971, Congress passed the Emergency Loan Guarantee Act, which could provide funds to any major business enterprise in crisis. Lockheed was the first recipient. Its failure would have meant significant job loss in California, a loss to the GNP and would have impacted national defense. $1.4 billion
Franklin National Bank 1974 In the first five months of 1974 the bank lost $63.6 million. The Federal Reserve stepped in with a loan of $1.75 billion. $7.7 billion
New York City 1975 During the 1970s, New York City became over-extended and entered a period of financial crisis. In 1975 President Ford signed the New York City Seasonal Financing Act, which released $2.3 billion in loans to the city. $9.4 billion
Chrysler 1980 In 1979 Chrysler suffered a loss of $1.1 billion. That year the corporation requested aid from the government. In 1980 the Chrysler Loan Guarantee Act was passed, which provided $1.5 billion in loans to rescue Chrysler from insolvency. In addition, the government's aid was to be matched by U.S. and foreign banks. $3.9 billion
Continental Illinois National Bank and Trust Company 1984 Then the nation's eighth largest bank, Continental Illinois had suffered significant losses after purchasing $1 billion in energy loans from the failed Penn Square Bank of Oklahoma. The FDIC and Federal Reserve devised a plan to rescue the floundering bank that included replacing the bank's top executives. $9.5 billion
Savings & Loan 1989 After the widespread failure of savings and loan institutions, President George H. W. Bush signed and Congress enacted the Financial Institutions Reform Recovery and Enforcement Act in 1989. $293.8 billion
Airline Industry 2001 The terrorist attacks of September 11 crippled an already financially troubled industry. To bailout the airlines, President Bush signed into law the Air Transportation Safety and Stabilization Act, which compensated airlines for the mandatory grounding of aircraft after the attacks. The act released $5 billion in compensation and an additional $10 billion in loan guarantees or other federal credit instruments. $18.6 billion
Bear Stearns 2008 JP Morgan Chase and the federal government bailed out Bear Stearns when the financial giant neared collapse. JP Morgan purchased Bear Stearns for $236 million; the Federal Reserve provided a $30 billion credit line to ensure the sale could move forward. $30 billion
Fannie Mae / Freddie Mac 2008 The near collapse of two of the nation's largest housing finance entities was yet another symptom of the subprime mortgage and housing market crisis. In an effort to prevent further turmoil within the financial market, the U.S. government seized control of Fannie Mae and Freddie Mac and guaranteed up to $100 billion for each company to ensure they would not fall into bankruptcy. $200 billion
American International Group (A.I.G.) 2008 When AIG was unable to secure a private-sector loan, the federal government intervened by seizing control of the insurance giant. $85 billion
Troubled Asset Relief Program 2008 The Bush administration has proposed a rescue plan to ease the current crisis on Wall Street. If approved by Congress, the Treasury Department will be authorized to purchase up to $700 billion of distressed mortgage-backed securities and other assets and then resell the mortgages to investors. $700 billion Jesse Nankin, Eric Umansky, Krista Kjellman, Scott Klein

full story: http://www.propublica.org/special/government-bailouts

lunar 25.09.2008 13:00

....hmmmm :schwitz zwischendurch ein paar Entspannungsübungen nicht vegessen :o;):hihi


Silverbay 25.09.2008 14:38

einfach ...
 
.

... harmonisch !


:)


bin auch "Musikliebhaber"

lunar 25.09.2008 16:57

25 September 2008

China Admits to Currency Manipulation, Dictates Terms for Support of US Sovereign Debt


Anyone care to remember the many economists, talking heads and government hacks who provided lengthy explanations why China was not manipulating the currency markets to provide an indirect set of subsidies and tariffs in the international markets?

Now China is dictating the terms.

This started with the Clintons and was brought to full flower under Bush.

The Wall Street bailout will probably pass under duress. Why not?
It is merely another step in the systematic betrayal of the markets and the public.

What does not kill the economy makes it.... stranger.



Asia Needs Deal to Prevent Panic Selling of U.S. Debt, Yu Says
By Kevin Hamlin

Sept. 25 (Bloomberg) -- Japan, China and other holders of U.S. government debt must quickly reach an agreement to prevent panic sales leading to a global financial collapse, said Yu Yongding, a former adviser to the Chinese central bank.

``We are in the same boat, we must cooperate,'' Yu said in an interview in Beijing on Sept. 23. ``If there's no selling in a panicked way, then China willingly can continue to provide our financial support by continuing to hold U.S. assets.''

An agreement is needed so that no nation rushes to sell, ``causing a collapse,'' Yu said. Japan is the biggest owner of U.S. Treasury bills, holding $593 billion, and China is second with $519 billion. Asian countries together hold half of the $2.67 trillion total held by foreign nations.

China, Japan, South Korea and others should meet soon to seal a deal, said Yu, a former academic member of the central bank's monetary policy committee. The talks should involve finance ministers, central bank governors and even national leaders, he said.

``Whether some kind of agreement between them to continue to hold Treasury bills is viable, I'm not sure,'' said James McCormack, head of sovereign ratings at Fitch Ratings Ltd in Hong Kong. ``It would be unusual. If it became apparent that sovereigns in Asia were selling Treasuries the market would take that quite badly, it's something to be avoided...''

China's huge holdings of U.S. debt means it must bear a large proportion of the ``burden of sorting things out'' in the U.S., Yu said. China is not in a hurry to dump its U.S. holdings and communication between the two nations every ``couple of days'' is keeping Chinese leaders informed and helping to avoid a potential panic, he added.

``China is very worried about the safety of its assets,'' he said. ``If you want China to keep calm, you must ensure China that its assets are safe.''

Currency Manipulator

Yu said China is helping the U.S. ``in a very big way'' and added that it should get something in return. The U.S. should avoid labeling it an unfair trader and a currency manipulator and not politicize other issues, he said.

``It is not fair that we are doing this in good faith and are prepared to bear serious consequences and you are still labeling China this and that, accusing China of this and that,'' he said. ``China knows what to do. We don't need your intervention.''

The U.S. financial crisis had taught China a lesson and that was: ``Why are we piling up these IOUs if they may default?'' China's economic expansion strategy, which emphasizes export growth that has led to trade surpluses and the accumulation of $1.81 trillion in foreign-exchange reserves, is the main problem, said Yu.

``Our export-growth strategy has run its natural course,'' he said. ``We should change course.''

China should stop intervening in the foreign currency markets and thus allow rapid appreciation of the yuan, he said. While this would cause pain for exporters, China could ease the transition by using its strong fiscal position to aid those who lose their jobs. It also should stimulate domestic demand to offset lower income from overseas sales.

Without yuan appreciation, China will continue to accumulate foreign reserves, which means further accumulating ``IOUs from the U.S.,'' said Yu. ``This is paper and it may default and it will not increase China's national welfare.''

If China doesn't allow the yuan to appreciate and continues to promote export-led growth it will lead to confrontation with the U.S. and Europe, Yu said.




Posted by Jesse at 9:36 AM :verbeug

lunar 25.09.2008 16:59

3 Anhang/Anhänge
Oh I understand…..just read the news…thats why the dollar is flying and

-> Posted by cannuckgold @ 10:55 am on September 25, 2008
the market is flying and gold is sinking….



lunar 25.09.2008 19:46

Bailout Could Deepen Crisis, CBO Chief Says

Asset Sales May Lead to Write-Downs, Insolvencies, Orszag Tells Congress


By Frank Ahrens
Washington Post Staff Writer
Thursday, September 25, 2008; Page D04


The director of the Congressional Budget Office said yesterday that the proposed Wall Street bailout could actually worsen the current financial crisis.
During testimony before the House Budget Committee, Peter R. Orszag -- Congress's top bookkeeper -- said the bailout could expose the way companies are stowing toxic assets on their books, leading to greater problems.

"Ironically, the intervention could even trigger additional failures of large institutions, because some institutions may be carrying troubled assets on their books at inflated values," Orszag said in his testimony. "Establishing clearer prices might reveal those institutions to be insolvent.".......

full story: http://www.washingtonpost.com/wp-dy...ml?hpid=topnews


washingtonpost.com readers have posted 136 comments about this item.
View All Comments »

...als Budget Officer müsste er ja eigentlich Bescheid wissen....aber wer will vor den Wahlen auf so was hören :mad da schei**en sich doch (fast) alle in die Hose :demut

lunar 25.09.2008 20:14

Lawmakers: Wall Street rescue accord reached

Dodd, Frank: Agreement in principle, expect passage of bill within days

Kevin Lamarque / Reuters

Congressional leaders discuss the economic bailout plan. From left: Sen. Jack Reed (D-RI), Rep. Barney Frank (D-MA), Sen. Chris Dodd (D-CT) and Sen. Chuck Schumer (D-NY).
View related photos

BREAKING NEWS

updated 2:05 p.m. ET Sept. 25, 2008

WASHINGTON - Key Republicans and Democrats reported agreement in principle Thursday on a $700 billion bailout of the financial industry and said they would present it to the Bush administration in hopes of a vote within days.

Emerging from a two-hour negotiating session, Sen. Chris Dodd, D-Conn., the Banking Committee chairman said, “We are very confident that we can act expeditiously.”

“I now expect that we will indeed have a plan that can pass the House, pass the Senate (and) be signed by the president,” said Sen. Bob Bennett, R-Utah.

full story: http://www.msnbc.msn.com/id/26884523

...ist nur stellvertretend :kiss


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