stock-channel.net - Das Finanzportal

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-   -   Now this has to be scary.....not always (http://www.stock-channel.net/stock-board/showthread.php3?t=82510)

High steaks 14.11.2008 22:29

Der Tag der Tage wird kommen :hausfrau wo es das richtige Zeug :kiff vom :hirnregnet und Dow und Hui in verschiedene Richtungen laufen.

lunar 15.11.2008 08:44

...ist zwar Merriman-Astrologie, passt aber hier rein, Paulson das Brechmittel der Nation

.... It is also interesting to note how the great bailout plan to rescue the American economy changed gears last week. You may remember how Treasury Secretary Hank Paulson rang the panic button in September with Mercury retrograde, demanding that Congress act quickly (immediately, or else risk economic catastrophe) to approve his bailout plan. Our comment at the time was that this idea was not well-thought out and changes would have to be made, based solely on forcing the issue under Mercury retrograde. Not enough information or understanding was yet available for Congress to make an educated and considered vote. This week, in another dreadfully awful televised press conference, Paulson outlined how the program now has to be changed in order to get the monies from the government directly to the consumer. The stock markets immediately collapsed – again – on his words. Paulson is quickly rising to the status of a very reliable technical sell indicator. Let’s hope that during Mars in Sagittarius – a time when either hope or panic will dictate the direction of equity prices – that Paulson refrains from the need to address us again with his shifting ideas and near-impossible-to-understand explanations. It’s bad enough that our Congressional leaders and President have granted him $700B of taxpayer’s monies to lead the rescue mission with very questionable oversight and accountability. To have him publically speak out and demonstrate once again that he doesn’t have a real solid, well-thought out plan for a successful rescue mission doesn’t give investors a great sense of confidence in what he is doing. The election of Obama and a new leadership in the White House may be creating a sense of great hope that could carry the stock markets higher into the end of the year. But the sudden switching of plans on how to execute the economic rescue mission is exactly the kind of stuff that could lead to panic and hysteria in the markets......

ganzer Text: http://www.mmacycles.com/weekly-pre...mbere-17,-2008/


So…I Wonder How Paulson’s Fiat Train Is Progressing?
-> Posted by Farmboy @ 22:43 pm on November 14, 2008


lunar 15.11.2008 09:01

...seine Meinung zum börslichen :o

lunar 15.11.2008 11:55

Hartford Insurance Becomes a Savings and Loan and Taps Uncle Sugar's CPP


There seems to be a bias to do whatever it takes to support big bonus and dividend paying financial companies, even one as diverse as GE, but to continue to let the manufacturing sector and blue collar jobs go to hell in a handbasket for the sake of global competitiveness and lower wages.

Yesterday the talking heads on Bloomberg and CNBC were ripping US manufacturing for its bad management practices, and blue collar workers for their extravagant wages, while praising the use of public money to generously subsidize the financial sector that caused this mess.

It was a truly Orwellian moment. What a collection of shameless, self-serving parasites!

Hartford's stock jumped 25% on the news, and helped to buoy the market. This did not last as the markets sold off heavily in the last half of hour trading. This Administration's economic policies are as bankrupt as they have left the Treasury.



The Hartford Announces Agreement To Acquire Federal Trust Bank
And Application To U.S. Treasury Capital Purchase Program

Friday November 14, 3:20 pm ET

HARTFORD, Conn. - The Hartford Financial Services Group, Inc. (NYSE: HIG) today announced that it has applied to the Office of Thrift Supervision (OTS) to become a savings and loan holding company and has applied to participate in the U.S. Treasury Department’s Capital Purchase Program (CPP).

In conjunction with these applications, The Hartford has signed a merger agreement to acquire the parent company of Federal Trust Bank for approximately $10 million and will also provide an additional amount to recapitalize the bank. Federal Trust Bank, a federally chartered, FDIC-insured savings bank is owned by Federal Trust Corporation, a unitary thrift holding company headquartered in Sanford, Fla. The completion of this acquisition will satisfy a key eligibility requirement for participation in CPP.

“We are taking these actions as a strong and well-capitalized financial institution looking for maximum flexibility and stability,” said Ramani Ayer, The Hartford’s chairman and chief executive officer. “Securing capital at the terms available through the Capital Purchase Program could be a prudent course in this market environment and would allow us to further supplement our existing capital resources.”

The Hartford’s purchase of Federal Trust Corporation is contingent on Treasury’s approval of The Hartford’s participation in the CPP, approval of the acquisition by the shareholders of Federal Trust Corporation, and the Office of Thrift Supervision’s approval of The Hartford’s application to become a savings and loan holding company. The Hartford estimates that it would be eligible for a capital purchase of between $1.1 billion and $3.4 billion under existing Treasury guidelines. The final amount of capital request will be determined following approval by Treasury.

About Federal Trust Corporation

Federal Trust Corporation is a unitary thrift holding company and is the parent company of Federal Trust Bank, a federally-chartered, FDIC-insured savings bank. Federal Trust Bank operates 11 full-service offices in Seminole, Orange, Volusia, Lake and Flagler Counties, Florida. The company's executive and administrative offices are located in Sanford, in Seminole County, Florida.



Posted by Jesse at 3:34 PM :verbeug

lunar 15.11.2008 12:11

Fri 14 Nov 2008

Kashkari On “The Passion Of The Hank”

Posted by alyx under bailout



Hank Paulson’s Mini-Me, I mean, Neel Kashkari, has been hiding under a rock lately, it seems. (To give you an idea of how long it’s been since I really saw Kashkari, Brad Walker emailed me this pic of a non-Paulson Kashkari lookalike a full month ago and I had to wait this long to break it out.) He finally surfaced today to give testimony to Congress about that whole messy issue of why a troubled asset relief plan wouldn’t buy any troubled assets and was instead just subsidizing bank buyouts. Oh, and hey, guess what, Treasury is making capital injections into 20 more banks today that in no way consist of buying troubled assets.

When asked whether or not any actual foreclosures would be presented, considering that this plan was marketed as a way to take bad morgtages off the banks’ books long enough to see if anyone would actually pay them, and to maybe help out a homeowner here or there, Kashkari offers us this bit of nonspecific twaddle:
Mr. Kashkari said Treasury continues to focus on the foreclosure issue and said Mr. Paulson is “passionate” about preventing foreclosures. “We are using every tool at our disposal to get at this problem,” Kashkari told lawmakers.

That’s right, folks, he’s passionate. He will get down on his knees not just to Nancy Pelosi but to every lender in the country to save your homes.

Best line of the day goes to Rep. Kucinich, of whom I am usually not a fan but you have to look at this one and admit the man got in one heck of a zinger in the whole why-did-we-pay-PNC-to-eat-up-National-City debate:
“I don’t think it’s a good use of taxpayer money to put taxpayer capital into a financial institution that is going to fail,” Mr. Kashkari said.

Mr. Kucinich fired back to Mr. Kashkari, “That statement that you just made you will hear about for the rest of your career.”

DENNIS. YOU WENT THERE. I suppose that this line would’ve been followed by a hair-pulling girlfight, if Kashkari had any hair.

lunar 15.11.2008 19:56

1 Anhang/Anhänge
Demonstrantin mit einem UBS-kritischen Plakat an einer Kundgebung gegen die Staatshilfe für die UBS in Zürich (15.11.2008).



AHV statt Abzockerei

Protestkundgebung auf dem Zürcher Paradeplatz für den kommenden Samstag angekündigt: Am 15. November, dem Tag des Washingtoner G20-Krisengipfeltreffens, ruft die Unia zusammen mit anderen Gewerkschaften, sozialen Bewegungen und Parteien zu einer Kundgebung mit Konzert auf dem Zürcher Paradeplatz auf. Neben prominenten RednerInnen treten auch der Berner Rapper Greis und die italienische Ska-Band Banda Bassotti auf.
http://www.unia.ch/Bilder-Demo-Zuerich.2498.0.html

lunar 16.11.2008 13:49

15 November 2008

Update from the G20 Meeting

The American Delegation makes its pitch for the status quo.



Posted by Jesse at 3:21 PM

lunar 16.11.2008 16:37

BORNEO

So stirbt der Regenwald

Uralte Regenwälder, Orang-Utans, majestätische Natur - die Insel Borneo ist ein einzigartiger Flecken Natur. Doch das Naturparadies ist bedroht, eine skrupellose Industrie zerstört es in Rekordtempo: für die Suche nach Öl, Gold und den Anbau von Nutzpalmen. Von Mel White und Mattias Klum mehr... [ Video ]




lunar 16.11.2008 17:13

15 November 2008

Ron Paul on the Credit Crisis and the G20 Meeting



lunar 16.11.2008 19:18

1 Anhang/Anhänge
....über den Wolken :eek Dubai :cool

lunar 16.11.2008 22:10

G-20 Calls for Action on Growth, Overhaul of Financial Rules
By Michael McKee and Simon Kennedy




Nov. 16 (Bloomberg) -- Leaders from the biggest developed and emerging nations agreed to further steps to shore up a global economy sliding into recession, and laid out regulatory proposals to prevent a recurrence of the financial crisis.

The Group of 20 yesterday urged a ``broader policy response,'' citing the potential for additional interest-rate cuts and fiscal stimulus, in a statement after meeting in Washington. The group set a March deadline for recommendations on strengthening accounting standards, derivatives markets and oversight of hedge funds and debt-rating companies....

full story: http://www.bloomberg.com/apps/news?...GDXk&refer=news

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




G-20 Summit Offers Mostly Promises

Global leaders showed a united front against the financial crisis, but offered mostly promises of future cooperation to nudge the world out of its economic funk......
mit Video

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

21:51 Uhr

Finanzgipfel

Wie der Plan für die Weltwirtschaft aussieht

Die Finanzkrise hat die Welt durchgeschüttelt. Die G20-Staaten wollen die Architektur der Märkte nun komplett umkrempeln. FTD.de gibt einen Einblick in die Beschlüsse des Weltfinanzgipfels.....
http://www.ftd.de/politik/internati...eht/439890.html

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

G- 20- TREFFEN IN WASHINGTON

Gipfel der guten Absichten

Der Finanzgipfel der Industrie- und Schwellenländer hat nur eine Grundsatzerklärung ohne konkrete Beschlüsse geschafft. Denn Gastgeber Bush hat bald nichts mehr zu sagen, die Welt wartet sehnsüchtig auf Nachfolger Obama - immerhin steht fest, dass der Einfluss der G-20-Runde wachsen wird. Von Gregor Peter Schmitz, Washington mehr... [ Forum ]

lunar 17.11.2008 09:13

From The Times

November 15, 2008
Saving car giants will cause havoc, Gordon Brown warns US

Tensions at the start of the G20 summit run high as Prime Minister deems return to 1930s policies ‘unacceptable’

No substantial deals are expected before the inauguration of Barack Obama in January

Francis Elliott in Washington, Suzy Jagger in New York and Gary Duncan, Economics Editor

div#related-article-links p a, div#related-article-links p a:visited { color:#06c; } In a veiled warning to the next American President, Gordon Brown described protectionism as the “road to ruin” yesterday as international tensions surfaced at the start of the G20 summit in Washington.

As world leaders assembled for dinner at the White House last night at the start of the two-day meeting, the backdrop was one of plunging sales and surging unemployment. The New York stock market dropped 350 points after official data showed that US retail sales had fallen by 2.8 per cent in October, the biggest slide for 16 years.

The mood was darkened further with confirmation that the eurozone was now in the grip of recession for the first time since the creation of the single currency in 1999.......

.......Mr Brown was already risking confrontation with the President-elect in barely coded criticism of a planned measure to bail out America’s ailing carmakers, a plan Mr Obama supports. “I do think it is really important that we send out a signal today that protectionism would be the road to ruin,” the Prime Minister said, in a speech to the Council of Foreign Relations in New York......

......Differing agendas

United States The US is scared of new, onerous regulation and is urging European countries to respect free-market principles on the basis that long-term state intervention will damage economic growth. But US policy on bailing out troubled industries is split: Barack Obama, the President-elect, wants to use federal funds to rescue American car companies; many Republicans do not.

Britain Gordon Brown has a long list. To start with, he wants “co-ordinated fiscal stimulus packages” — which means getting countries to increase public spending to create new jobs and offer tax rebates to families. He wants the IMF to create a council of experts to monitor the markets for danger signs — his much-vaunted early-warning system — and the IMF’s coffers to be boosted by cash-rich states such as Saudi Arabia and China. He is also calling for a clean-up of the banking system, including a network of regulators to scrutinise the world’s biggest banks.

France President Sarkozy is also pushing for cross-border regulation, meaning he wants to control French banks even when they are operating outside French borders. He sees the crisis as an opportunity to depose the US dollar as the king of currencies, and replace it with the euro. Mr Sarkozy would also like an overhaul of the world financial architecture, including making rating agencies more regulated and forcing accounting standards to be the same worldwide.

Germany The Germans are deeply suspicious of secretive hedge funds, which control about $2.5 trillion worth of assets and whose activities are not regulated. They blame the hedge funds for market volatility and driving down shares by short-selling. Angela Merkel, the Chancellor, also backs greater powers for the IMF to oversee international companies, revised rules for rating agencies and making it harder to hide risks off company balance sheets.

Russia President Medvedev wants more say in the IMF, so he is teaming up with Mr Sarkozy to back President Bush into a corner. He wants alternatives to the IMF as lenders of last resort and is willing to contribute to the cost of the new agencies. Russia has also pressed for international budgetary and economic rules to prevent any further crises

China China wants to press the West for a bigger role in global financial bodies such as the IMF but at the same time it has been trying to lower Western expectations that it will join in global actions. It cites as reasons its own economic problems and limited resources as a developing country.

Brazil and other developing nations These want changes to the voting structure at the IMF and the World Bank’s to give them more of a voice.


full story: http://business.timesonline.co.uk/t...icle5158583.ece

If you want your 401k to be worth anything at all next year, you will support the bail out. And by the way, the government ended up MAKING money on the Chrysler bail out.

Mike, Bettendorf, Iowa

Rescuing the Auto industry is now akin to "protectionism"? The American manufacturing sector, and it's manufacturing might, which includes the auto industry, was the reason this country and it's allies, defeated facism and won 2 world wars. This isin't protectionism, it's survival of all we know.

....das wird noch eine harte Nuss :gruebel ....."that protectionism would be the road to ruin" :rolleyes den Banken wird geholfen und den "blue-collar workers" nicht - das empfinden natürlich viele als total ungerecht - man kann eben nicht alles nur vom finanziellen Standpunkt aus sehen :schwitzaber schwierig wird das schon :(

lunar 17.11.2008 14:59

bei DU gesehen :) ...ich nehm mal "D" ;):o

lunar 17.11.2008 15:32

WRAPUP 2-Citigroup to cut up to 50,000 jobs - CNBC

Mon Nov 17, 2008 8:28am EST

(Adds details throughout, chairman's comments)

NEW YORK, Nov 17 (Reuters) - Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) plans to cut up to 50,000 jobs, CNBC television said on Monday, as souring economies and global credit conditions cause the U.S. bank with the farthest reach worldwide to retrench.

The cuts are on top of the roughly 23,000 jobs Citigroup has already slashed this year, and would leave the second-largest U.S. bank with about 300,000 jobs worldwide.

Cuts are expected to come from layoffs, the sale of units and attrition, CNBC said. Overall capital expenses may decline as much as 20 percent, and cuts are expected to be deep in investment banking, it said.

Citigroup did not respond to a request for comment.....

full story: http://www.reuters.com/article/bond...746833620081117




U.S. jobless rate to hit 7.5%, latest NABE survey shows

By Mike Maynard
Last update: 6:32 a.m. EST Nov. 17, 2008
Comments: 1

WASHINGTON (MarketWatch) -- The National Association for Business Economics sees the U.S. unemployment rate rising to 7.5% by the end of 2009, up from an October 2008 rate of 6.5%.
full story: http://www.marketwatch.com/news/story/US-jobless-rate-hit-75/story.aspx?guid={61CADAF1-46F2-489C-9F2A-8D2F3C4B048D}

lunar 17.11.2008 15:58

Things are getting scary. I am scared..

-> Posted by cannuckgold @ 9:45 am on November 17, 2008

New York Daily News
Fidelity Investments to cut 1700 more jobs

guardian.co.uk, UK - Nov 14, 2008
Financial companies around the world have cut jobs as the economy deteriorates. Citigroup Inc plans to shed about 10 percent of its global workforce,

Citi to cut 50000 jobs, trim expenses by 20%
Rediff, India - 30 minutes ago
Financial services major Citigroup is planning to slash as many as 50000 jobs in the next five to six months and also intends to reduce costs by 20 per cent

Sun Microsystems to cut up to 6000 jobs
San Francisco Chronicle, USA - Nov 15, 2008
Many startups have also cut jobs as the economic slump that began in housing and infected the financial sector undermines tech niches from chips to

Whirlpool to cut jobs on weak profit
Chicago Tribune, United States - Oct 28, 2008
Whirlpool Corp. is eliminating about 5000 jobs this year and next, due in large part to the long downturn in the US housing market. .

RBS to cut jobs as credit crunch continues
Bridging and Commerical, UK - 4 hours ago
A major commercial mortgage lender is to cut staff in the weeks ahead, prior to its recapitalisation with government money. Around 3000 jobs are to go at

ANZ Bank to Cut More Than 500 Jobs Amid Credit Crisis (Update3)
Bloomberg - Nov 13, 2008
“I think it would be unrealistic to think there would be no jobs going but there is no plan to just cut jobs, no.” ANZ’s plan to double earnings by 2012

Chip companies, amid slackening demand, lower forecasts and cut jobs
San Jose Mercury News, USA - Nov 13, 2008
Mulloy noted that Intel, which has about 83000 employees worldwide — with 6000 to 7000 in the Bay Area — has cut about 20000 jobs over the past couple of

BT to Cut 10000 Jobs; Second-Quarter Profit Falls (Update3)
Bloomberg - Nov 13, 2008
Earnings before interest, taxes, depreciation, amortization and costs to cut jobs dropped 1.3 percent to 1.43 billion pounds ($2.1 billion) in the fiscal

Applied Materials to cut jobs as earnings fall
San Francisco Chronicle, USA - Nov 12, 2008
that its fiscal fourth-quarter earnings dropped 45 percent and the Santa Clara company announced plans to cut 1800 jobs by the end of fiscal 2009.

Herman Miller, Whirlpool cut jobs
Chicago Tribune, United States - Nov 12, 2008
Office furniture-maker Herman Miller Inc. is eliminating 400 to 650 jobs because of slower ordering trends and reduced global demand.

Deutsche Post plans to cut 9500 more jobs
Malaysia Star, Malaysia - 4 hours ago
DEUTSCHE Post will spend more than planned and cut an additional 9500 jobs to turn around its US express business, which has been hit by the global economic

Yell to Cut Another 1300 Jobs as Slump Damps Revenue (Update2)
Bloomberg - Nov 11, 2008
Media companies worldwide have cut jobs this year as advertisers pull back spending amid an economic slump. Researcher ZenithOptimedia Group Ltd. said last

:schwitz

lunar 17.11.2008 16:24

17 November 2008

:kotzGoldman Sachs Target of Naked Short-Selling Complaints and Market Manipulation in High Yield Loan Markets


The charge is that as an agent bank Goldman Sachs has access to private information that gives it an advantage in the opaque market of high risk debt, and they have been using that information to target certain portions of the market with naked short selling to drive down prices and reap large profits for themselves at the expense of their clients and other market participants.

This is the template for market fraud that we described previously on several occasions. The banks have privileged information and access to funds that precludes them from playing on a level field with other market participants. The uneven enforcement of the rules by the SEC and CFTC and lack of transparency in other markets is another significant factor.

Now that Goldman is also trading with public funds from the Treasury the situation becomes even more outrageous.

Until the financial system is reformed there can be no sustainable recovery.

Bring back Glass-Steagall and honest, responsive, and transparent regulation of the markets.


Bloomberg
Goldman Targeted by Investor Complaints of Naked Short-Selling
By Pierre Paulden and Caroline Salas

Nov. 17 (Bloomberg) -- Investors in the $591 billion high- yield, high-risk loan market are accusing Goldman Sachs Group Inc. of naked short selling to profit from record price declines.

At least two fund managers complained verbally to officials of the Loan Syndications and Trading Association, saying they believe Goldman helped drive down prices by using the technique, according to people with knowledge of the objections. New York- based Goldman is acting against its clients by trying to profit at their expense, the investors said.

A $171 billion drop in the value of the loans in the past year is pitting banks against investing clients on assets once considered so safe they typically traded at par. The drop exposed flaws in an unregulated market where trades can take from several days to months to settle and banks may have information unavailable to investors. In a naked-short transaction, a firm would sell debt it didn’t already own, betting the price will fall before it purchases the loan and delivers it to the buyer.

“The LSTA is closely monitoring issues of naked short selling,” Alicia Sansone, head of communications, marketing and education at the New York-based industry association, said in an e-mail.

The group, comprising banks and money management firms that trade the debt, plans to tighten rules to ensure transactions are settled more quickly and prices reported accurately, Sansone said. She wouldn’t elaborate or discuss the claims against Goldman....

Most Aggressive

The bank was seen as the most aggressive in recent months in selling loans at prices below other dealers’ offers and taking longer than the LSTA’s recommended seven days to settle the deals, according to the investors complaining to the trade group.

There’s no rule preventing naked short selling of loans. The U.S. Securities and Exchange Commission this year banned the practice for 19 stocks including Lehman Brothers Holdings Inc. and Fannie Mae and Freddie Mac from July 21 to Aug. 12 as share prices plunged. New York-based Lehman, once the fourth-biggest securities firm, eventually went bankrupt and Fannie and Freddie, the two largest mortgage-finance providers, were brought under government conservatorship. (Excuse us but isn't naked short selling of stocks illegal in the US? The SEC just does not enforce the law and the list of 19 was just a declaration of vigilant enforcement for a select group of 'special companies.' - Jesse)/em>

The slump in loan prices during the global seizure in credit markets is causing particular disruption in the loan market because the debt typically trades close to 100 cents on the dollar. Prices never were below 90 cents until February this year. By October they had fallen to a record low of 71 cents, according to data compiled by Standard & Poor’s. The decline, which S&P said equated to losses of about $171 billion, helped drive the complaints from fund managers.

‘Shell-Shocked’

“Investors are shell-shocked” by the decline, said Christopher Garman, chief executive officer of debt-research firm Garman Research LLC in Orinda, California. “In many ways they’re all but wiped out.”

Because prices were so stable, short sales of loans were unheard of until now, Elliot Ganz, general counsel of the LSTA, said at the group’s annual conference in New York last month.

“No one ever shorted loans,” Ganz said. “Prices never went down.”


High-yield, or leveraged, loans are given to companies with below-investment grade ratings, or less than Baa3 at Moody’s Investors Service and under BBB- at S&P. Banks typically form a group to arrange the financing. They then find other investors to take pieces of the debt, helping spread the risk.

Those loan parts can trade through private negotiations between banks and hedge funds or mutual funds. One of the lenders involved in the initial deal remains the so-called agent bank, which keeps track of who owns what piece. Unlike bonds and stocks, the debt doesn’t trade on an exchange and has no central clearinghouse.

Agent Banks

When a loan changes hands, the agent bank must sign off on the transaction, meaning it knows exactly who is buying and who is selling. The rest of the market is in the dark. Getting an agent to sign off, also can delay settlement.

An agent will have a bird’s-eye view of who owns what and when,” said John Jay, a senior analyst at Aite Group LLC, a research firm that specializes in technology and regulatory issues in Boston. “They have information that no one else has....”

Three Days

In the bond market, the standard settlement time is three days following the trade. In a bond short sale, a trader acquires debt by borrowing the security in a deal known as a repurchase contract. The two sides specify how long the bond will be borrowed with the right to renew the pact. Because loans can’t be borrowed through such agreements, any short seller would have to go naked.

While the LSTA doesn’t track the amount of loans currently unsettled, at least 700 trades made by Lehman Brothers Holdings Inc. before it filed for bankruptcy hadn’t cleared, Ganz told last month’s conference....

Posted by Jesse at 9:24 AM :verbeug

....bin mal gespannt, wie die sich wieder rauswinden :mad

Insider trading

-> Posted by soee @ 12:37 pm on November 17, 2008
I find it a joke that the SEC charges Mark Cuban with insider trading, but they can’t seem to nail a single Wall Street bankster or insider to the wall when it is so prevalent. Mark must have forgot to pay his ‘protection’ to the SEC mafia.

lunar 17.11.2008 17:40

Google's Street View mapping service is available in France, Italy and Spain, but privacy laws threaten its expansion elsewhere in Europe.

Once greeted warmly, Google wears out welcome

By Kevin J. O'Brien
Published: November 16, 2008



BERLIN: When Google began hiring in Zurich for its new engineering center in 2004, local officials welcomed the U.S. company with open arms. Google's arrival is still bearing fruit for Zurich: 450 employees, about 300 of them engineers, work in Google's seven-story complex in a converted brewery on the outskirts of the placid mountain metropolis.

But almost five years into its expansion into Europe - where it has a headquarters in Dublin, large facilities in Zurich and London and smaller centers in Denmark, Russia and Poland, among other countries - Google is beginning to bump up against a web of privacy laws that threaten its growth and the positive image it has cultivated as a company dedicated to doing good - its unofficial motto.

In Switzerland, data protection officials are quietly pressing Google to scrap plans to introduce Street View, a mapping service that provides a vivid, 360-degree, ground-level photographic panorama from any address. Swiss privacy law prohibits the unauthorized use of personal images or property.

In Germany, where Street View is also not available, the simple process of taking photographs for the service violates privacy laws.....

full story: http://www.iht.com/articles/2008/11...gy/google17.php

hmmm - also nicht mehr "blüttle" auf dem Balkon :rolleyes aber es ist schon unangenehm wenn überall Kontrolle ist :mad

lunar 17.11.2008 18:29

1 Anhang/Anhänge
Hijacked Tanker Heads To Somalia


4:42pm UK, Monday November 17, 2008
A supertanker hijacked by pirates and with British nationals among its hostages is making its way to a Somali port, according to the US Navy.
Sirius Star owner Vela understood crew members on board to be safe

Navy spokesman Lieutenant Nathan Christensen said pirates on board crude carrier Sirius Star were "nearing an anchorage point" off the town of Eyl.

The port has become a haven for pirates and a number of other ships are still being held there.

The Foreign Office earlier confirmed that two Britons were among the 25 crew.

Nationals from Croatia, Britain, the Philippines, Poland and Saudi Arabia are also on board......

full story: http://news.sky.com/skynews/Home/Wo...315153159?f=rss

...und schon reagiert der Ölpreis :rolleyes:o

lunar 17.11.2008 18:36

  • Dow Jones Reprints: This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, use the Order Reprints tool at the bottom of any article or visit www.djreprints.com
  • NOVEMBER 17, 2008, 12:18 P.M. ET
SEC Charges Mark Cuban With Insider Trading

By KARA SCANNELL

Mark Cuban

The Securities and Exchange Commission filed insider trading charges against Mark Cuban, the outspoken owner of the Dallas Mavericks, for allegedly dumping shares in Mamma.com upon learning it was raising money in a private offering (full text of complaint).

The SEC alleges in a civil action that Mr. Cuban sold his entire 6% ownership stake on June 28, 2004, after learning that Mamma.com was raising money through a private investment in a public entity, or PIPE. The next day, on June 29, the company announced the PIPE financing and shares of the company dropped by more than 10%. By selling his stake, the SEC alleges, Mr. Cuban avoided more than $750,000 in losses.

In a PIPE transaction new shares are issued at a discount to the current trading price. An announcement of a PIPE transaction is often followed by a drop in the stock price as shareholders anticipate their stake will be diluted.

Write to Kara Scannell at kara.scannell@wsj.com
http://online.wsj.com/article/SB122693827604333637.html

hmmmmm - da reagiert die SEC aber stramm :rolleyes ja und jetzt bitte die GSler :gomad




Mon 17 Nov 2008

Mark Cuban Charged With Insider Trading

Posted by alyx under markets
No Comments


From the Things That Make Me Sad department: SEC charges Mark Cuban with insider trading for dumping shares of search-engine also-ran mamma.com upon discovering Mamma was smoking the PIPE.

So glad there is absolutely nothing of interest going on in the markets that could be of import, leaving the SEC with infinite resources to go after someone who dumped a small-cap stock upon realizing it was privately placing its shares on the cheap. To quote Cuban himself: “If you don’t follow the stock market, you are missing some amazing drama.” Patrick Byrne was not available for comment, but if he were, it probably would have gone something like this: “Tee hee! One less Sith Lord!”

If you’re wondering why Mark Cuban would’ve invested in a dog like this in the first place, check out his Blog Maverick post from 2004 (now deleted from the main site, but the Internet Wayback Machine never forgets).

Full text of SEC complaint here.




SEC :dumm:dumm:dumm

lunar 17.11.2008 18:38



CALIFORNIA FIRE FURY...

lunar 17.11.2008 21:23

On store shelves, stealthy shrinking of containers keeps prices from rising

By Jerry Hirsch
November 9, 2008
It is hard to spot what happened this year in the peanut butter aisles of local supermarkets.

But a careful look at the jars of Skippy on the shelves may reveal a surprise. The prices are about the same, but the jars are getting smaller.

They don't look different in size or shape. But recently, the jars developed a dimple in the bottom that slices the contents to 16.3 ounces from 18 ounces -- about 10% less peanut butter.....
full story: http://www.latimes.com/business/la-...0,4372443.story

:rolleyes aha - stabile Preise no inflation :mad

lunar 17.11.2008 21:42

17 November 2008

Head of IMF Requires $1.2 Trillion for Global Bailouts and Stimulus


Funny thing about 'requirements.'

We require the head of the IMF to eat shit, bark at the moon, and die before we would GIVE him one more dime of our money to spend. The IMF has a well-defined charter and they need to stick to it.

Recommendations and coordination are always accepted. But its bad enough we allowed the Congress to grant the Bush Administration $750 billlion to hand out to their favorite banks. One can only imagine what the IMF might do with $1.2 trillion.

Economic Times
IMF requires $1.2 trillion to boost world economy
18 Nov, 2008, 0139 hrs IST, AGENCIES

TRIPOLI: Up to two percent of the world's income, or 1.2 trillion dollars, should be spent on reviving the global economy, the head of the International Monetary Fund said in Tripoli on Monday.

Dominique Strauss-Kahn, the fund's managing director, called for "massive" and coordinated use of budgetary policy to overcome the crisis.

"It is time to use all instruments," he said at the opening of a conference on economic integration in the Maghreb region, urging a budgetary "push" of two percent of countries' gross domestic product.

On a world scale, this would add up to 1.2 trillion dollars.

"A coordinated budgetary policy sharply increases the effect of the policy," Strauss-Kahn said.

He indicated that he would favour a further interest rate cut by the European Central Bank.



Posted by Jesse at 3:30 PM :verbeug

....wo kann ich denn die hohle Hand machen :rolleyes:o

lunar 17.11.2008 22:06

1 Anhang/Anhänge
-> Posted by goldielocks @ 16:01 pm on November 17, 2008
I think the bail out will be more like this.. The tow truck pulls car out of water and it falls in too..then see what happens next… have to click on the above links and next. That is if it shows up.

http://www.ebaumsworld.com/pictures/view/1039429/

lunar 18.11.2008 09:06

5 hours ago
Berkshire Hathaway Shares Close Below $100,000 For First Time In Two Years
Posted By:Alex Crippen
Topics:Stock Market | Warren Buffett
Companies:American Express Co | Kraft Foods Inc. | Wells Fargo and Co | Coca Cola Co | Berkshire Hathaway Inc.

Shares of Warren Buffett's Berkshire Hathaway closed below $100,000 today (Monday) for the first time in just over two years. The most recent sub-$100K close before today was on October 20, 2006.

Today's finish at $95,615 is a fresh two-year closing low. The stock fell $5,385 today, a drop of 5.3 percent. That's the biggest one-day point and percentage decline in three weeks, and the fourth biggest percentage drop of the year.

While Berkshire's Class A stock had traded in five-digit territory on Thursday and Friday, it recovered both days to close above $100K.

Berkshire shares are down almost 36 percent from their December 10, 2007 all-time closing high of $149,200. They were in the high $130s as recently as early October.



Berkshire has dropped 32.5 percent year-to-date, outperforming the benchmark S&P 500's 42.1 percent decline.....

full story: http://www.cnbc.com/id/27775516

GS hilft auch dabei :p obwohl nicht aufgeführt :rolleyes

lunar 18.11.2008 09:28

Volcker issues dire warning on slump

Paul Volcker, the former chairman of the US Federal Reserve, has warned that the economic slump has begun to metastasise after a shocking collapse in output over the past two months, threatening to overwhelm the incoming Obama administration as it struggles to restore confidence.


By Ambrose Evans-Pritchard
Last Updated: 10:39PM GMT 17 Nov 2008


"What this crisis reveals is a broken financial system like no other in my lifetime," he told a conference at Lombard Street Research in London.

"Normal monetary policy is not able to get money flowing. The trouble is that, even with all this [government] protection, the market is not moving again. The only other time we have seen the US economy drop as suddenly as this was when the Carter administration imposed credit controls, which was artificial."

His comments come as the blizzard of dire data in the US continues to crush spirits. The Empire State index of manufacturing dropped to minus 24.6 in October, the lowest ever recorded. Paul Ashworth, US economist at Capital Economics, said business spending was now going into "meltdown", compounding the collapse in consumer spending that is already under way.

Mr Volcker, an adviser to President-Elect Barack Obama and a short-list candidate for Treasury Secretary, warned that it is already too late to avoid a severe downturn even if the credit markets stabilise over coming months. "I don't think anybody thinks we're going to get through this recession in a hurry," he said.

He advised Mr Obama to tread a fine line, embarking on bold action with a "compelling economic logic" rather than scattering fiscal stimulus or resorting to a wholesale bail-out of Detroit. "He can't just throw money at the auto industry.".....

full story: http://www.telegraph.co.uk/finance/...g-on-slump.html



....an der der auto industry wird sich Obama hoffentlich nicht die Zähne ausbeissen :rolleyes

...hier ist noch Jesse's Kommentar :verbeug

17 November 2008

Tall Paul Delivers a Dismal Diagnosis for the US Economy

As much as we admire Paul Volcker, we can't help but notice that he, like so many others, did not have all that much to say while Greenspan and his merry banksters were running around setting fire to the economy while President Zero fiddled.

Also, he is not offering much in the way of innovation or suggestions for the incoming administration, at least so far.

Perhaps they should trigger a nasty inflation and then they can roll Volcker out to fix it. Hmmm, that seems to be in the works.

The 1930's script says that we have a Republican minority and a conservative Supreme court that block the many attempts of an incoming Democratic president to help the general public survive a devastating economic downturn, after a decade of seriously greasing the elites' monetary skids, pushing us to the brink of domestic insurrection, until it takes a world war to pull us out.

Wow, déjà vu!

lunar 18.11.2008 10:02

The Dollar Trap: Michael Hudson's Incisive Characterization of Our Global Economic Dilemma


Bretton Woods has not worked well for a long time, despite the best efforts of the world's bankers to pretend that it has. As the charade continues, the economy of the United States and the composition of international trade has grown increasingly artificial and unsustainable.

The dilemma facing us now is what happens when the dollar hegemony finally breaks down and falls apart? Which countries will break ranks and begin offloading their dollar reserves in size into more tangible and less arbitrary stores of value, risking the value of their remaining reserves, in a classic Prisoner's Dilemma? Be assured that this is happening quietly behind the scenes, despite some of the recent financial engineering that has caused a dollar short squeeze, primarily in Europe.

More on this later. But first, here is a major plank in our construct so very well expressed by the classical economist Michael Hudson. What we are approaching is the failure of the Bretton Woods arrangement. How this is accomplished, how it unfolds, will shape at least next several decades of history and the fortunes of our generation.
"What happens in practice is that foreign central banks recycle the dollars that
their exporters and asset sellers receive because their currencies would rise if
they failed to do this. That would price their exports out of world markets,
leading to unemployment. Foreign countries thus are in a dollar trap.
They send their savings to finance the domestic U.S. Government budget deficit
instead of helping their own domestic economics, because they have not been able
to create an alternative to the dollar."

Our Trash for Your Cash
Bankers Shake Down Congress and the G-20
By MICHAEL HUDSON

The financial press has been negligent in reporting how last week’s two top financial stories are linked: first, the testimony by Treasury Secretary Henry Paulson and his evasive Interim Assistant Secretary Neel Kashkari defending why they followed a completely different giveaway plan to the banks (their own Wall Street constituency) than what Congress authorized; and second, the G-20 standoff among the world’s leading finance ministers this weekend.....

.....Here’s the problem that faced global finance ministers this weekend: The U.S. payments deficit has been pumping excess dollars into foreign economies, whose recipients have turned them over to their central banks. These central banks have saved their currencies from rising (and thus losing foreign markets by making their exports more expensive) by buying Treasury bonds so as to support the dollar’s exchange rate by recycling their dollar inflows back to the United States – enough to finance most of our federal budget deficit, and indeed much of Fannie Mae’s mortgage lending as well.

Mr. Bush for his part would like to shape the global financial system so that foreign economies continue giving the United States a free lunch. U.S. officials control the International Monetary Fund and World Bank and use these institutions to impose neoliberal privatization policies on foreign countries, thereby destroying the post-Soviet economies, Australia and New Zealand since the 1990s, just as they destroyed Third World economies from the 1960s through the ’80s. That’s why, until last month, the IMF had lost its clients and was almost universally shunned. French President Nicolas Sarkozy led foreign calls for a “new Bretton Woods,” by which he meant not just an upgrading of U.S. dollar hegemony but a different world order – more regulated with a fairer quid pro quo. And as the Financial Times reported: “Spain’s governing Socialist party summed up the heady mood in some parts of Europe in an internal document, seen by El Mundo, that identified the summit as a moment of historic change. ‘The origins of this crisis lie in neoliberal and neoconservative ideology,’ it said.”......

must read :supi full story: http://jessescrossroadscafe.blogspo...s-incisive.html

lunar 18.11.2008 11:26

The G-20's Secret Credit Crash Debt Solution

Currencies / Global Financial System Nov 14, 2008 - 02:38 PM By: Money_and_Markets


Larry Edelson writes: If you think this weekend's G-20 meetings in Washington are only about designing short-term fixes to the financial system and regulatory reforms for banks, hedge funds, brokers, mortgage companies and investment banks … think again.

Behind the scenes, a far more fundamental fix is being discussed — the possible revaluation of gold and the birth of an entirely new monetary system. :rolleyes

I've been studying this issue in great depth, all my life. And given the speed at which the financial crisis is unfolding, I would be very surprised if what I'm about to tell you now is not on the G-20 table this weekend......

The IMF would be at the center of the new monetary system....

.....What should you do to prepare for these possibilities? It's obvious: Make sure you own some core gold, as much as 25% of your investable funds.

Also, as I've noted in past Money and Markets issues, you will want to own key natural resource stocks, and even select blue-chip stocks that will participate in the reflation scheme.

For more details and specific recommendations to follow, be sure to subscribe to my Real Wealth Report .

Best wishes,

Larry


full story: http://www.marketoracle.co.uk/Article7310.html

:gruebel :confused:rolleyes:nw

lunar 18.11.2008 16:31

Fed's Bernanke & Treasury's Paulson on Capitol Hill
Current DateTime: 07:26:05 18 Nov 2008
LinksList Documentid: 19746125
Expiration DateTime: 11/18/2008 7:27:05 AM
Paulson: Use Rescue Fund Only For Financial System

Treasury Secretary Paulson said the unpredictable nature of the financial crisis meant that the $700 billion financial bailout money shouldn't be diverted to other uses.



Bernanke ist wie lauwarmes Wasser - Paulson stottert immer rum wenn er nicht ablesen kann - vom Chairman * bekommt er :hammer der lässt sich nicht so schnell überfahren :supi
live zum mithören ---> http://www.cnbc.com/


* Barney Frank Statement
Rep. Barney Frank, D-MA/House Committee on Financial Services opens the hearing on government lending and insurance facilities.
Video ---> http://www.cnbc.com/id/15840232?video=931619111&play=1

lunar 18.11.2008 17:30

18 November 2008

Mark Cuban Responds to the SEC


This looks like it might be an interesting case.

If he is guilty, the conversation between Mark Cuban and the CEO of Momma.com will be absolutely pivotal, especially the source of the record of it. Secondly, the nature of the large sale of stock that Mr. Cuban made will be equally important. Was it previously planned and committed to without question? (and something more than altered notations on scrap paper as in the case of Martha Stewart).

Another issue is whether or not this was polticial payback for Mr. Cuban's participation in criticism of the Bush Administration and his involvement in the movie "Loose Change." Is the 'enemies list' another of the artifacts of the Nixon Administration that turned up in Bush II? There were many.

It will take a 'smoking gun' and a witness such as John Dean * to bring that level of government misdeeds to light. That requires a confluence of events that cannot be predicted in advance. But the elements of secrecy, contempt for the laws, hubris, and a willingness to do 'whatever it takes' were all there.

This is a sideshow for now, and we cannot help but believe that Mr. Cuban's attorneys are urging him to shut up, take the fine, and settle. Judging from this he has not yet internalized their advice.

Let's see what happens.



The SEC
Mark Cuban's Blog
Nov 17th 2008 1:20PM

I wish I could say more, but I will have to leave it to this, and let the judicial process do its job.
November 17, 2008
RE: SEC Civil Action in the United States District

for the Northern District of Texas, Dallas Division

Mark Cuban today responded to a civil complaint filed by the United States Securities and Exchange Commission in the United States District for the Northern District of Texas, Dallas Division. In its complaint, the Commission charges that Mr. Cuban engaged in violations of the federal securities laws in connection with transactions in the securities of Mamma.com Inc.

This matter, which has been pending before the Commission for nearly two years, has no merit and is a product of gross abuse of prosecutorial discretion. Mr. Cuban intends to contest the allegations and to demonstrate that the Commission’s claims are infected by the misconduct of the staff of its Enforcement Division.

Mr. Cuban stated, “I am disappointed that the Commission chose to bring this case based upon its Enforcement staff’s win-at-any-cost ambitions. The staff’s process was result-oriented, facts be damned. The government’s claims are false and they will be proven to be so.”

Posted by Jesse at 10:27 AM :verbeug

* http://de.wikipedia.org/wiki/John_Dean

lunar 18.11.2008 17:49

Tue 18 Nov 2008

It’s Dead, Jim

Posted by Jason under bailout , bernanke , hank paulson , loller dollar



Today, the House Financial Services Committee and Pajama Party is hearing from Msrs. Paulson and Bernanke about what, exactly, it is they have been doing lately. There is a wall of fifty Congressmen and women looming over our two intrepid heroes, looking very much like the Krypton Ruling Council at the beginning of Superman: The Movie. It’s all very official-looking, even though everyone present knows that it is all just busywork because Hank will do with $700b whatever the heck Hank feels like doing with $700b no matter who tells him otherwise. :rolleyes

That did not stop Ron Paul from declaring the dollar system dead, again, and asking Bernanke if he had discussed with other central bank leaders the return to the gold standard, again, because Ron Paul is still running for president. For the record, Bernanke’s response was “WTF? LOL, N00B!”

Other highlights include Ohio’s own Steve LaTourette grilling Hank on why PNC used TARP dollars to purchase Ohio’s own National City Bank, even as National City Bank was one of the few entities denied TARP money itself. It’s a fair question, because I actually got my TARP check last Thursday.

Also, Rep. Judy Biggert asks why Treasury hasn’t set up the insurance program that the House forcibly inserted into the failout bill. Hank’s response, basically: “Your insurance plan is stupid, I haven’t actually read that part of the bill anyway, and I wouldn’t hold my breath.” Overall, this has been an exercise in House members not really understanding macroeconomics and Hank’n'Ben not thinking they are smart enough to have it explained to them. The Wondertwins are probably correct in this assessment.

lunar 18.11.2008 18:11

1 Anhang/Anhänge
...wie auch immer :rolleyes

lunar 18.11.2008 21:09

18 November 2008

The Dollar Trap: Mutually Assured Financial Destruction



The current structure of the Bretton Woods agreement with the US dollar as the dominant reserve currency is not sustainable.

The developed nations are holding approximately 70% of their reserves in US dollars.

The rest of the world knows it must find an acceptable substitute for the dollar as the reserve currency.

The US does not wish to change the status quo for several reasons. First, it provides an automatic funding mechanism for incredibly large budget deficits that would collapse without this mechanism as they are now unsustainable. Additionally, the US economy has become badly distorted with an outsized financial sector as a percent of GDP created to manage this artificial reserve construct.

Change will be painful for all. Yet change must and will come, even as the US resists that change and uses a type of Mutually Assured Financial Destruction policy to maintain its hegemony.

No one wishes to make the 'first move' to the exit, since it will cause a severe depreciation of their dollar reserves, and possibly provoke clandestine and military action by the world's sole superpower.

And yet, the inching to the exits is underway, and the world holds its breath in case a shift occurs that will precipitously unravel 37 years of financial imbalance in a global economic earthquake.

The dollar will either be saved with a new formal structure, with more fiscal and political overtones to support an otherwise unstable monetary regime, or it will be decimated.

It would be naive to think that the US financial planners do not see this and are not using it to advantage.

One can always count on a reversion to the mean. We just cannot know when it will happen, or how, or in what period of time.

When it comes it will come quickly like a lightning stuck, with a terrific thunderclap heard around the world.




US Debt has grown to be about ten percent of World GDP (excluding the US) which is without historic precedent.



Approximately thirty percent of US debt is being held by non-US entities, in particular foreign central banks.



The Developed Countries are holding approximately 70% of their reserves in US Dollars. The Developing Nations have less exposure on a percentage basis.





Charts from "Is the US Too Big to Fail?" by the Reinharts at VoxEU


Posted by Jesse at 12:56 PM :verbeug

:schwitz wie oft wurde der $ in letzter Zeit totgesagt :rolleyes:gruebel und wie oft der Goldausbruch :rolleyes wenn dann niemand mehr dran glaubt - dann werden wir wieder mal auf dem falschen Fust erwischt.....hmmmm ich meinte ---> ich werde..... :rolleyes

lunar 18.11.2008 21:30

Tuesday, 18 November 2008 - ein kleiner Aufsteller in diesen trüben Zeiten :kiss



Mickey Mouse turns 80

Mickey Mouse first appeared on cinema screens in Steamboat Willie, released in 1928.

On Mickey's 80th birthday the writer, broadcaster and Mickey Mouse expert Brian Sibley explains everything you need to know about the world-famous rodent........

MICKEY THE SYMBOL
Over the years Mickey Mouse has been a symbol of different things at different times.

In the 1930s, the time of the great depression, Mickey represented something very American to do with endurance and the ability to rise above defeat........

MICKEY THE CIRCLE
People used to say Mickey Mouse was very simple to draw, that any animator could draw him.
You simply drew the head by drawing around a dollar, then drew the ears by drawing around a quarter.......



Mickey Mouse was Walt Disney's favourite character

MICKEY THE ICON
Andy Warhol said that Mickey was one of his favourite images. Even the Palestinian militant group Hamas used a Mickey-like image on their children's TV programme, spreading the message of Islamic Jihad.

It is fascinating that a character who hasn't made many movies in the last 20 years still has worldwide fame.

Maybe it is the fact that Walt Disney himself invested so much interest in the character.

He would often say to the animators in his studio, working on full length, big-budget films: "I hope you will never forget that this was all started by a mouse."

American philosopher Ralph Waldo Emerson was supposed to have said that if you build a better mouse trap the world will beat a path to your door. Disney just made a better mouse.

full story mit video: http://news.bbc.co.uk/today/hi/toda...000/7735372.stm


disney fantasia The Sorcerer's Apprentice with Mickey

...wie passend zur heutigen Situation :o



:supi Mickey :tröst....aber wer schickt die WallstreetMafia zum Teufel :confused:rolleyes:o

lunar 19.11.2008 09:00

Max Keiser - Aljazeera English News - 16 November 2008





:eek ohne Wertung :o

lunar 19.11.2008 09:07

Zitat:
Zitat von syracus

http://www.portfolio.com/news-marke...eets-Boom#page1

Sonntagslektüre :) . Lang aber gut.

jetzt hab ich's endlich geschafft :) ...sollte man wirklich gelesen haben :supi


The End

by Michael Lewis Nov 11 2008
The era that defined Wall Street is finally, officially over. Michael Lewis, who chronicled its excess in Liar’s Poker, returns to his old haunt to figure out what went wrong.




Photoillustration by: Ji Lee

lunar 19.11.2008 09:10

Tue 18 Nov 2008

Why Hijack A Supertanker When You Could Hijack A $4.3 Trillion Dollar Failboat

Posted by alyx under bailout
1 Comment


Who cares about pirates off the Saudi coast when you’ve got a failboat like this steaming towards you? Erik Skiles sends me this running tally of the cost of the US financial crisis which puts the bill at a whopping $4.3 trillion dollars:



The CNBC slideshow has a number of interesting adjusted-for-inflation comparisons, showing that the TARP is more costly than the Louisiana Purchase, and this entire bailout is more expensive than World War II.

I have seen the cost of failure, and it sucks.

lunar 19.11.2008 09:21

18 November 2008

What Happened When They Pulled the TARP Out from Under the Mortgage Asset Markets?


The mortgage markets are imploding.

This is not the sort of action we might have expected given the panic story that Hank and Ben presented to Congress when they originally asked for the emergency $750 Billion to buy immediately buy troubled assets to 'save the system.' Well, from the looks of these charts those assets have become a lot more 'troubled.'

On the surface it looks as though they have washed their hands of the larger financial system, particularly the mortgage markets, once they supplied a select group of banks with no-strings equity investments.

Paulson and Bernanke need someone with experience in crisis management on their team. At this point the broader market can trust nothing that they say since it is inconsistent, opaque, and without principle to the point of seeming arbitrary.

Bill Poole Thinks the Fed is Confusing the Markets with a Lack of Transparency and Clarity of Intent

full story: http://jessescrossroadscafe.blogspo...son-pulled.html
Posted by Jesse at 9:59 PM :verbeug


Paulson and Bernanke need someone with experience in crisis management on their team
.....vielleicht zur Abwechslung mal eine glaubwürdige Person :o

lunar 19.11.2008 09:53

More Midas

-> Posted by Fullgoldcrown @ 20:45 pm on November 18, 2008
http://goldtent.com/wp_gold/2008/11/18/more-midas-16/
Chuck checked and sees it the way I do…

Bill:

The financial stocks continue to relentlessly melt away. I find the lack of concern or even any mention of their demise very frightening. In fact, most of the commentary leans toward what to buy at the bottom and how to profit from it. That type of advice which has never wavered means that the vast number of investors have never sold anything. Because the media tends to focus on the Dow there is a sense that things are ready to turn here.

All of the banks and other financials are collapsing, and yet no one seems to notice or care. Again today, it is UBS, Citigroup at $8, Bankamerica, Wells Fargo and even Morgan down sharply. The insurers and other financials, Prudential, Hartford, Met Life have also been whacked. Take a look at the financial charts that I have included to see the incredible carnage during the past year and especially in the past two months. Almost all of them struck multi-year lows today.

This thing has been so orderly, calm and surreal. We have not had any sign of panic yet, and we have not yet had a scary Friday-Monday combo which should precede any kind of meaningful bottom. I think that the market still lacks the washout and panic that should have come by now. I realize that it is very late in the year, but the 1973 bottom came on December 5, so this thing could keep going for another couple of weeks. Also, this is not a market that can be compared to any other.

I strongly advise you is to keep enough cash for a couple of months near you as well as keeping some pm coins. Also, if the markets and the banks close we could see a distribution crisis and a run on stores for essential. To be prudent, I would buy sufficient food, water and batteries to last a month or two. If nothing happens, you spent some time shopping but if something crazy does happen, and you are not prepared, you will greatly regret it.

I realize that this might sound preposterous and mad, but the behavior of the financial shares and the lack of concern makes me continue to believe that a unprecedented crisis will come suddenly and without warning, and that precautions should be taken.
Chuck ikiecohen@msn.com

*How funny that the talk about the PPT would surface on a day when the DOW rallied furiously after an opening 150 lower call, and closed so much higher on even more bad news. What makes it so titillating is that the DOW rallied sharply AGAIN when Bernanke and Paulson were making their televised appearances in front of Congress. Recently the same occurred when Bush was on TV talking about the markets. It is as if they scared to death to let the market sink when either of the three are addressing issues about the economy and financial markets.

For those who doubt the PPT is not part of the stock market scene, they should review the market action of late when those three luminaries are speaking in front of the investing public.

Have to share more feedback on the PPT flap this morning on CNBC…

Speaking of good news, interesting to see CNBC having a mass freak-out at 8:30 because a guest is bringing up the Plunge Protection Team - I’ll be looking for the video later but obviously this guest never got the official word that the PPT doesn’t exist (because, if they did exist, then the markets would be a farce and viewers may get fed up and tune out)!”

seekingalpha.com/article/106606-options-trader-tuesday-outlook

***

So Art Cashin thinks the idea of a PPT is absurd?!? (...das fand ich auch sehr merkwürdig :rolleyes)

My god, I watch the market all day, and the Dow just has one miraculous pop up after the next, day in and day out (and see how well it’s worked lately).

Exactly the opposite of the gold market, which has one smash after the next, day in and day out. It creeps up, then gets smashed, just like the Dow creeps down, then pops up, NON STOP, EVERY DAY.

lunar 19.11.2008 10:43

ENTFÜHRUNGSSERIE

Piraten kapern weitere Schiffe vor Somalia


Die Piraten am Horn von Afrika werden immer dreister: Erneut wurden im Golf von Aden zwei Schiffe gekapert. Der deutschen Marine gelang es immerhin, einen weiteren Angriff auf einen britischen Tanker zu vereiteln. mehr... [ Forum ]


....vielleicht denken die was den FinanzHaien recht ist.....ist uns billig :rolleyes

lunar 19.11.2008 11:16

Obama Embrace of Wall Street Insiders Points to Politic Reforms
By Heidi Przybyla

:(


Nov. 19 (Bloomberg) -- During the height of the financial crisis in late September, some of Barack Obama's campaign advisers pushed him in a conference call to distance himself from Treasury Secretary Henry Paulson. The former Goldman Sachs Group Inc. chief executive officer, they warned, was too close to President George W. Bush and Wall Street.

Obama, 47, rejected the idea. At one point, he talked to Paulson everyday for two weeks.

As the president-elect faces a once-in-a-century opportunity to remake the regulatory apparatus governing Wall Street, some of Obama's fellow Democrats and investor groups are urging him to bring sweeping changes to banks, hedge funds and executive pay. His closest economic advisers, men like Robert Rubin, Lawrence Summers and Paul Volcker, may recommend otherwise: go slow. If Obama takes their counsel, the 44th president, who succeeds Bush on Jan. 20, may not clamp down all that hard on a financial industry whose excesses have pushed the nation -- and much of the world -- into a recession.

``This is a group of people that understands the markets, respects the free-market system and understands government has an important role to play,'' says Eugene Ludwig, a former U.S. comptroller of the currency who is himself an Obama adviser. ``But there are limits on what government can or should do.'....
full story: http://www.bloomberg.com/apps/news?...refer=exclusive

.....Robert Rubin ist ja auch ein exGSler :rolleyes und was er bei der Citi "geleistet" hat ist auch nicht eben das Gelbe vom Ei :mad und Herr Volcker ist wirklich etwas alt :rolleyes hoffentlich wird das "yes we can" nicht nur nur eine unerfüllte Phrase :rolleyes


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