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lunar 29.09.2008 19:32

205 YEA; 228 NAY...
PUMP: Fed 'significantly expands' availability of cash to squeezed banks; $630 Billion...


lunar 29.09.2008 19:34


US- Repräsentantenhaus lehnt Rettungspaket ab

Abstimmungskrimi im Repräsentantenhaus: Die erste Kammer des US-Kongresses hat das 700 Milliarden Dollar schwere Rettungspaket für die Finanzmärkte ganz knapp scheitern lassen. Der Dow Jones rauschte in die Tiefe. mehr... [ Forum ]

lunar 29.09.2008 19:38

FTS - Bill defeated

-> Posted by butters @ 14:25 pm on September 29, 2008
Which means (according to them) we are going into the depression. Guess we skip the recession.

Buying in Swiss Francs

-> Posted by Rhodycb @ 14:39 pm on September 29, 2008
Swiss francs had major buying against the dollar after the bailout was rejected. Swiss francs and gold is what everyone is moving to.


-> Posted by ipso_facto @ 14:37 pm on September 29, 2008
Nancy Pelosi’s “partisan” speech right before the vote is being blamed for the failure to pass.

Silverbay 29.09.2008 19:42

Hallo Lunar,

hat doch etwas genützt, dass die Leute auf die
Strasse gingen ...

#354 bei salazie

lunar 29.09.2008 19:42

Registered User

Originally Posted by anywoundedduck

Final Vote:

205 yes

228 NO !!!!!!


Check out the live feed:

lunar 29.09.2008 19:58

Zitat von Silverbay

Hallo Lunar,

hat doch etwas genützt, dass die Leute auf die
Strasse gingen ...

#354 bei salazie

:schwitz:gruebel :confused die Reps. habe doch NAY gestimmt, weil ihnen auch die Beschränkungen und dadurch weniger Pfründe nicht gepasst haben (ist aber ausschliesslich meine Meinung :o;)), und natürlich auch die Wahlaussichten..... :rolleyes

lunar 29.09.2008 20:17

Zitat von Vetinari

2:30 pm : The NY Times reports that government leadership plans a second attempt to pass the $700 billion financial bill, which conflicts with a CNBC report that there is no possibility of a second vote.

The Volatility Index (VIX) spiked as much as 11.02 to 46.28, which is its highest level since 2002. The high levels of the VIX indicates greater uncertainty during the next 30 days.

CNBC gegen WSJ ... wer profitiert meist von geruchte ;) :D

VIX spike ;) ... aber gibts mehr oder sind alle schoen raus ? :eek

Und dumme SEC ... ohne Shorties gibts kein Boese Shortie brenner mehr ;) ... die Hedgies sitzen raus und gucken und warten ...

als naechste werden verkaufen verboten :lach


:confused...ich hab nix gefunden bei NY Times :rolleyes

lunar 29.09.2008 20:41

*************************BLACK MONDAY************************

* *

lunar 29.09.2008 20:44

Dow, Compq & S&P 500

-> Posted by Rambus @ 15:17 pm on September 29, 2008

lunar 29.09.2008 21:14

Zitat von Hoka

The US and global financial crisis is becoming much more severe in spite of the Treasury rescue plan. The risk of a total systemic meltdown is now as high as ever

Nouriel Roubini | Sep 29, 2008

It is obvious that the current financial crisis is becoming more severe in spite of the Treasury rescue plan (or maybe because of it as this plan it totally flawed). The severe strains in financial markets (money markets, credit markets, stock markets, CDS and derivative markets) are becoming more severe rather than less severe in spite of the nuclear option (after the Fannie and Freddie $200 billion bazooka bailout failed to restore confidence) of a $700 billion package: interbank spreads are widening (TED spread, swap spreads, Libo-OIS spread) and are at level never seen before; credit spreads (such as junk bond yield spreads relative to Treasuries are widening to new peaks; short-term Treasury yields are going back to near zero levels as there is flight to safety; CDS spread for financial institutions are rising to extreme levels (Morgan Stanley ones at 1200 last week) as the ban on shorting of financial stock has moved the pressures on financial firms to the CDS market; and stock markets around the world have reacted very negatively to this rescue package (US market are down about 3% this morning at their opening).

Let me explain now in more detail why we are now back to the risk of a total systemic financial meltdown…

It is no surprise as financial institutions in the US and around advanced economies are going bust: in the US the latest victims were WaMu (the largest US S&L) and today Wachovia (the sixth largest US bank); in the UK after Northern Rock and the acquisition of HBOS by Lloyds TSB you now have the bust and rescue of B&B; in Belgium you had Fortis going bust and being rescued over the weekend; in German HRE, a major financial institution is also near bust and in need of a government rescue. So this is not just a US financial crisis; it is a global financial crisis hitting institutions in the US, UK, Eurozone and other advanced economies (Iceland, Australia, New Zealand, Canada etc.).

And the strains in financial markets – especially short term interbank markets - are becoming more severe in spite of the Fed and other central banks having literally injected about $300 billion of liquidity in the financial system last week alone including massive liquidity lending to Morgan and Goldman. In a solvency crisis and credit crisis that goes well beyond illiquidity no one is lending to counterparties as no one trusts any counterparty (even the safest ones) and everyone is hoarding the liquidity that is injected by central banks. And since this liquidity goes only to banks and major broker dealers the rest of the shadow banking system has not access to this liquidity as the credit transmission mechanisms is blocked.

After the bust of Bear and Lehman and the merger of Merrill with BofA I suggested that Morgan Stanley and Goldman Sachs should also merge with a large financial institution that has a large base of insured deposits so as to avoid a run on their overnite liabilities. Instead Morgan and Goldman went for the cosmetic approach of converting into bank holding companies as a way to get further liquidity support – and regulation as banks – of the Fed and as a way to acquire safe deposits. But neither institution can create in a short time a franchise of branches and neither one has the time and resources to acquire smaller banks. And the injection of $8 b of Japanese capital into Morgan and $5 b of capital from Buffett into Goldman is a drop in the ocean as both institutions need much more capital. Thus, the gambit of converting into bank while not being banks yet has not worked and the run against them has accelerated in the last week: Morgan’s CDS spread went through the roof on Friday to over 1200 and the firm has already lost over a third of its hedge funds clients together with their highly profitable prime brokering business (this is really a kiss of death for Morgan); and the coming roll-off of the interbank lines to Morgan would seal its collapse. Even Goldman Sachs is under severe stress losing business, losing money, experiencing a severe widening of its CDS spreads and at risk of losing most of its values most of its lines of business (including trading) are now losing money.

Both institutions are highly recommended to stop dithering and playing for time as delay will be destructive: they should merge now with a large foreign financial institution as no US institution is sound enough and large enough to be a sound merger partner. If Mack and Blankfein don’t want to end up like Fuld they should do today a Thain and merge as fast as they can with another large commercial banks. Maybe Mitsubishi and a bunch of Japanese life insurers can take over Morgan; in Europe Barclays has its share of capital trouble and has just swallowed part of Lehman; while most other UK banks are too weak to take over Goldman. The only institution sound enough to swallow Goldman may be HSBC. Or maybe Nomura in Japan should make a bid for Goldman. Either way Mack and Blankfein should sell at a major discount of current price their firm before they end up like Bear and be offered in a few weeks a couple of bucks a share for their faltering operation. And the Fed and Treasury should tell them to hurry up as they are both much bigger than Bear or Lehman and their collapse would have severe systemic effects.

When investors don’t trust any more even venerable institutions such as Morgan Stanley and Goldman Sachs you know that the financial crisis is as severe as ever and the fear of collapse of counterparties does not spare anyone. When a nuclear option of a monster $700 billion rescue plan is not even able to rally stock markets (as they are all in free fall today) you know this is a global crisis of confidence in the financial system. We were literally close to a total meltdown of the system on Wednesday (and Thursday morning) two weeks ago when the $85 b bailout of AIG led to a 5% fall in US stock markets (instead of a rally). Then the US authorities went for the nuclear option of the $700 billion plan as a way to avoid the meltdown together with bans on short sales, a guarantee of money market funds and an injection of over $300 billion in the financial system. Now the prospect of this plan passing (but there is some lingering deal risk the votes in the House are not certain) -as well as the other massive policy actions taken to stop short selling “speculation” and support interbank markets and money market funds - is not sufficient to make the markets rally as there is a generalized loss of confidence in financial markets and in financial institutions that no policy action seem to be able to control.

The next step of this panic could become the mother of all bank runs, i.e. a run on the trillion dollar plus of the cross border short-term interbank liabilities of the US banking and financial system as foreign banks as starting to worry about the safety of their liquid exposures to US financial institutions; such a silent cross border bank run has already started as foreign banks are worried about the solvency of US banks and are starting to reduce their exposure. And if this run accelerates - as it may now - a total meltdown of the US financial system could occur. We are thus now in a generalized panic mode and back to the risk of a systemic meltdown of the entire financial system. And US and foreign policy authorities seem to be clueless about what needs to be done next. Maybe they should today start with a coordinated 100 bps reduction in policy rates in all the major economies in the world to show that they are starting to seriously recognize and address this rapidly worsening financial crisis.

Silverbay 30.09.2008 00:38

Capitol hill ...
Schönes Wetter in Washington ...

lunar 30.09.2008 07:49

Here’s a list of all the yea and nay votes…

-> Posted by aggie @ 0:02 am on September 30, 2008

on the bailout package.

All the best.—–aggie. :verbeug

lunar 30.09.2008 07:54

Zitat von Silverbay

Schönes Wetter in Washington ...


lunar 30.09.2008 08:06

Largest One Day Declines in the DJIA by Percentage

Posted by Jesse at 7:03 PM :verbeug


Dow Closes Down 777, Nasdaq Down 9%, Etc, Etc

Posted by alyx under bailout
[4] Comments


The pain, it has been brought. After the bailout vote failed, Dow plunges over 7%, S&P over 8%, Nasdaq over 9%, four European banks tanked, and some guy is on CNBC right now calling this capitulation. Who knew there were any sellers left?

lunar 30.09.2008 09:06

...Merriman :gruebel

Finanzbericht für die Woche vom 29. September 2008

Kurzfristige geokosmische Signaturen

Der Neumond im Waagezeichen ereignet sich am Montag, 29. September. Vielleicht gibt es bis dann eine Vereinbarung, denn Neumonde sind ein guter Moment, um mit neuen Anstrengungen zu starten. Andererseits ist das Waagezeichen bekannt für seine Unschlüssigkeit. Wie bereits erwähnt, gesellt sich der rückläufige Merkur dazu, was bedeutet, dass es in solchen Zeiten schwierig ist, unter Berücksichtigung aller wichtiger Fakten eine Entscheidung zu fällen. Eine rein astrologische Sichtweise würde nahelegen, dass sämtliche Hüter des Gesetzes und Präsidentschaftskandidaten die nächsten 2 – 3 Wochen dazu nutzen, den Plan im Detail zu diskutieren, bevor darüber abgestimmt wird. Wir hören jedoch, dass dies nicht geht. Unser kardinal betonter Präsident und unser ebenso kardinaler geprägter Finanzminister warnen uns, dass wir keine Zeit haben zum Warten! Kardinale Zeichen neigen dazu, die Dinge schon gestern fertig zu haben (ausser dem Waagezeichen). Trotz allem sollte man sich fragen, ob es wichtiger ist, eine Vereinbarung, welche voller Fehler sein kann, sofort zu verabschieden oder sich die erforderliche Zeit zu nehmen, um eine besser abgestützte Entscheidung zu fällen, dies im Zusammenhang mit einer derart wichtigen Angelegenheit? Sollen wirklich die Steuerzahler (Sie und ich) die Risiken für eine Rettung des Finanzsystems und der Banken auf sich nehmen, oder gibt es nicht eine Möglichkeit, dass diese Institutionen auf eine Weise reorganisiert werden, dass das Finanzsystem, welches sie durch ihre fraglichen Praktiken schwer geschädigt haben, gerettet wird? Ersteres zu tun, wäre zwar im Sinne des die letzten sieben Jahre dauernden „Regimes der Fehler" folgerichtig, und wir hören, dass letztere Variante wegen der uns erwartenden Fälligkeiten nicht in Frage kommt. So wie wir auf die bevorstehende Saturn/Uranus-Opposition zusteuern, erinnert mich das an die 1965-er Ballade, gesungen von Barry McGuire und geschrieben von P.F. Sloan, die den Titel „The Eve of Destruction" trug („Der Vorabend der Zerstörung"). Interessanterweise war dies das letzte Mal, dass diese beiden Planeten zueinander eine Opposition bildeten. So könnte dieses Lied nun ein populäres Comeback feiern......
ganzer Artikel:

lunar 30.09.2008 09:21

Gurus Gerüchte-Corner

30.09. 08:30

Klassischer „Wash Out“ oder „Tag der Lemminge“

Finanzkrise - die Amerikaner schiessen sich selber ins Bein, treffen aber uns alle auch. Für die Politiker ist im Endspurt des US-Präsidentenwahlkampfes die jetzige Krise ein gefundenes Fressen. Jeder kocht noch schnell sein Süppchen. Es wird die teuerste Suppe aller Zeiten werden!

Europäische Banken - der Dominoeffekt ist noch lange nicht gebannt. Jeden Tag kommen neue Banken ins Gerede. Auch die Schweizer Grossbanken werden sich dem globalen Druck nicht entziehen können.

lunar 30.09.2008 10:22

von Folker Hellmeyer, Chefanalyst der Bremer Landesbank

30. September 2008

US-Rettungsplan zunächst gescheitert – Turbulenzen an Finanzmärkten

..........Der Weg zu einem Rettungsplan ist offensichtlich komplizierter als zunächst angenommen. Sowohl demokratische als auch maßgeblich republikanische Abgeordnete tun sich mit dem Programm schwer und wollen bessere Alternativen kennen und umgesetzt sehen.
In der Folge der Ablehnung ergab sich ein Flucht zu Qualität an den Finanzmärkten. Treasury Bonds und Bills waren äußerst gefragt. Dabei liegt die verfassungskonforme Neuverschuldung im laufenden Haushaltsjahr per 26.9.2008 (4 Tage vor Ende des Fiskaljahres) bei 882 Mrd. USD, einem historischen Höchstwert, der circa 6,2% des US-BIP entspricht. Diese Qualitätseinstufung durch den Finanzmarkt der T-Bonds und Bills erscheint vor dem Hintergrund der Staatsverschuldungsdynamik durchaus fragwürdig, oder?

Es ist erstaunlich, dass die „Flucht“ in die Edelmetalle, wahre Horte der Stabilität mit einem historischen Trackrecord von circa 5.000 Jahren, nur zu unterproportionalen Preisaufschlägen führte. Das darf schon als erstaunlich bezeichnet werden. Ist schon klasse, wenn man „freie Märkte“ hat. Wie sagte noch der Ex-Chef der Fed Paul Volcker. Der einzige Fehler seiner Amtszeit bestand darin, den Goldpreis nicht zu manipulieren. „Food for thought!“

Eine andere Spielart der Regierungsintervention wird und von der Regierung Irlands geliefert. Die Regierung hat mit Wirkung vom 29. September für die nächsten zwei Jahre alle Bankeinlagen und
Bankschuldverschreibungen irischer Banken mit einer öffentlichen Garantie ausgestattet. Damit soll dem Misstrauen und Vertrauensmangel zwischen den Marktteilnehmern entgegengewirkt werden.
Ein derartiger Schritt ist durchaus geeignet, Vertrauen zu generieren. Gleichwohl wirft diese Staatsgarantie rechtliche Fragen auf, in wie weit diese Maßnahmen unzulässige Subventionen darstellen.

Der Geschäftsklimaindex der Eurozone sank per September von 88,5 auf 87,7 Punkte. Die Konsensusprognose war bei 87,5 Punkten angesiedelt. Der erneute Rückgang signalisiert eine weiter abnehmende Konjunkturdynamik. Der Chart belegt den abrupten und anhaltenden Rückgang des Index.

full story:

lunar 30.09.2008 11:03

Time for a little brea………..k

-> Posted by Ike @ 2:16 am on September 30, 2008
The girls get to debate sexism and politics

lunar 30.09.2008 11:51

September 30, 2008

Lebieque ( 30September2008; 3:53)
The Great Bailout - From a financial ignoramus’ point of view. If you haven’t understood glüd’s Rockwell contribution, perhaps this might see you right.

Selling credit with virtual backing to satisfy unbridled greed, the sorry likely background to Investment Banking and their Hedge Funds. The Black–Scholes failure was the writing on the wall only the insiders could possibly understand to this day. In foolhardy desperation, to wheedle out of the ensuing mess, IT assets were virtually pumped to bursting point. Then mortgages were pawned until they couldn’t take the strain any longer. By now, in total desperation, they focused their attention on our life-blood oil and milked that to the point of no return.

It mattered little to them that in the meantime they had involved literally everyone and their daily bread, without it making the slightest difference to the eventual outcome. At the end of the road, the Investment Banks, like recalcitrant kids, showed their incredible arrogance by turning to their prey, begging, nay demanding, for a Bail-Out. The irony of it all is that the world never needed the services of Investment Banking at all. Who, by the way, is running the show in America, the President or the Treasury Secretary, and since when is a Treasury Secretary the spokesman for a single lobby?

:verbeug :supi

lunar 30.09.2008 12:10

:hihi .....ein :supi :bang Artikel :cool:verbeug

Understanding the Bank Bailout

This is a disaster. As you may have heard our plans for the Big Bank Bailout (BBB) failed in the House. This is the worst thing that could happen.

I know lots of good folks were complaining about the BBB. It's too bad so many people are so illinformed about economicalness. I think that since we were talking about more than $700 billion US dollars, most of you just couldn't comprehend how much money that really was and how it was to be used. This inability to comprehend the amount of money we're talking about, and its proposed usage, leads to the current situation whereby the People, in their confusion, called their senator or local congressman and complain – on a 200 to 1 – against the BBB; and the plan failed.

That's just plain wrong.

I'm here to help you understand, in layman's terms, what the fuss is all about. It seems to me that the problem is based in two simple-to-understand areas: How much money is $700 billion dollars; and, how to put a certain value on so-called "Toxic Assets.".......

full story:

lunar 30.09.2008 13:54

Paulson May Find Market Turmoil Helps Renew Push for Bailout ( hat doch nicht etwa etwas nachgeholfen :rolleyes:o)

By John Brinsley and Rebecca Christie

Sept. 30 (Bloomberg) -- Treasury Secretary Henry Paulson may have to rely more on the worst stock market plunge in two decades and a deepening credit-market freeze than personal persuasion to sell his bank bailout plan to Congress.

Paulson pledged to work with lawmakers after the House of Representatives yesterday rejected a $700 billion rescue, sparking the biggest collapse in the Standard & Poor's 500 Index since the October 1987 crash. As Congress considers returning in the next two days to reexamine the proposed legislation, lawmakers are weighing the implications of inaction.......

full story:

lunar 30.09.2008 14:16

Banking crash hits Europe as ECB loses traction

The global credit crisis has slammed into Europe with stunning violence over the last two days, triggering five major bank rescues and a near total shut-down of the region's credit markets.

By Ambrose Evans-Pritchard
Last Updated: 10:37AM BST 30 Sep 2008

....."The interbank market has collapsed," said Hans Redeker, currency chief at BNP Paribas. "We're now seeing a domino effect as the credit multiplier goes into reverse and forces banks to cut back lending to clients," he said.

Mr Redeker said the latest alarming twist is a move by banks to deposit €28bn in funds at the European Central Bank in a panic flight to safety. This has jammed the mechanism used by the authorities to shore up the financial system in a crisis.

"The ECB is no longer able to inject liquidity because the money is just coming back to them again :rolleyes:xyz This is extremely serious. If monetary policy is no longer working, there is a risk that the whole system will blow up in days," he said.

The euro plunged on Monday as the wave of bank failures hit the newswires, dropping 2pc to $1.43 against the dollar. It recovered slightly as the US Federal Reserve flooded the markets with $630bn of dollar funding with fellow central banks in the biggest liquidity blitz in history......

full story:

.....das Vertrauen der Banken untereinander scheint ja riesig zu sein :ironie

lunar 30.09.2008 15:16

Contrarian Chronicles 9/29/2008 12:01 AM ET

What's next, a ban on stock sales?

By Bill Fleckenstein

.....One wouldn't have to be too cynical to conclude that we now know the real reason Treasury chief Hank Paulson decided he needed a $700 billion bazooka. I don't mind him helping out old friends at Goldman Sachs (GS, news, msgs), and I would prefer that the financial system not implode. But I find this bailout bill completely outrageous. Though I won't hold my breath, I hope it doesn't get enacted as currently proposed.....
full story:

...möchte wirklich noch erleben dass es die GSler "lupft" - wishful thinking :rolleyes:(:mad

lunar 30.09.2008 15:22

30 September 2008

German Finance Ministry was 'Staring Into the Abyss'

Interesting interview, and a peek into the German bureaucratic mind.

Denial runs deep, although it should be noted this is a career politician speaking.

The German government seems to be in a state of self-delusion, if one can judge from this interview.

das Interview:,581201,00.html

lunar 30.09.2008 15:42

The Bailout and the Economy
The US trade deficit has grown to $US700 billion, which of course is money not spent on US goods and services. This has killed off well paying jobs, has slowed the economy and created unemployment.
HAHAHA! There it is again! That $700 billion is all over the place! This is the amount of our budget deficit. It is the amount of our trade deficit. It is the amount of the Pentagon's budget. It is a very interesting number that was echoed yesterday in the stock markets. This pesky $700 billion is obviously a MAGIC NUMBER. And therefore, a herald of sorts. Like a trumpet blowing in our ears. And I hope it has woken up the American people.

Here is an excellent read from the Mises Austrian Economist people:

Will Central Bankers Become Central Planners? by Robert Blumen
Daily Article by Robert Blumen | Posted on 7/31/2006
As if fighting inflation, smoothing out the business cycle, and saving the world from economic crises were not enough, central banks are being advised to include another objective in their mission: the purchase and management of stock portfolios. The Washington Post reports that former Treasury Secretary (and soon-to-be-former president of Harvard University) Lawrence Summers "is advising some of the world's biggest holders of US Treasury bonds that they ought to find much better ways to invest their money." Summers says that by holding large portfolios of US Treasuries, central banks are passing up more lucrative investments in the stock market.

To make sense of this proposal (if indeed it makes any sense), it is first necessary to understand how central banks came to hold so many reserves, and why the majority of their reserves are currently held in the form of US government debt. From there, Summers's proposal is a small and apparently logical step.

I often argue with them. But this posting is quite right and should be passed around. There are so many fine minds out there! Virtually none of them are noticed by the top millionaires who run America. But if more of us read all of this, the more we form an alternative consensus. And this is certainly happening! If 75% of the US public can be so much at odds with the faux leaders of Congress and the White House including both Tweedle dumb and Tweedle don't candidates, then this is a GOOD THING.

The media will bend all its might to thwart this awakening. The media will twist and turn like a snake. The NYT and Washington Post both support this stupid TARP business. The Wall Street Journal is foaming at the mouth with rage over being thwarted. But we have the internet.

In Congress, at the party, the Congressmen there began to talk about the internet. They want to control it, of course. This began a heated debate between myself and them. Censoring us is a tool used by the rulers to prevent information from passing around. Lies can be passed around. But so can TRUTHS! And the truth is covered up by the mainstream media and is exposed online even as some online use this power to lie and tell stupid stories that have no real foundation or make up stuff out of thin air.

We get to pick and choose which reality we want! Not be forced into a faux reality by the media and by corrupt political leaders who gain power by eliminating choices.


lunar 30.09.2008 16:01

:wirr:wirr:wirr "....freie Märkte" :rolleyes

lunar 01.10.2008 07:34

US- Senat nimmt sich aufpoliertes Rettungspaket vor

Neuer Anlauf für den Rettungsplan der Finanzbranche: Der US-Senat will schon heute über das 700-Milliarden-Dollar-Paket abstimmen, das nach der Überarbeitung nun Bankkunden mehr Sicherheit bieten soll. Die Präsidentschaftskandidaten Obama und McCain werben einträchtig für Unterstützung. mehr... [ Video | Forum ]

lunar 01.10.2008 07:39

Senate to Vote Wednesday on Bailout Plan

Published: September 30, 2008
WASHINGTON — Senate leaders scheduled a Wednesday vote on a $700 billion financial bailout package after accepting tax breaks and a higher limit for insured bank deposits in a bid to win House approval and send legislation to President Bush by the end of the week.

full story:

lunar 01.10.2008 08:26

SEC Office of the Chief Accountant and FASB Staff Clarifications on Fair Value Accounting


Washington, D.C., Sept. 30, 2008 — The current environment has made questions surrounding the determination of fair value particularly challenging for preparers, auditors, and users of financial information. The SEC's Office of the Chief Accountant and the staff of the FASB have been engaged in extensive consultations with participants in the capital markets, including investors, preparers, and auditors, on the application of fair value measurements in the current market environment....

full article:

lunar 01.10.2008 08:39

Senate to vote on rescue plan with added tax cut
Wednesday October 1, 2:22 am ET
By Charles Babington and Andrew Taylor, Associated Press Writers
Senate to vote on $700 billion financial rescue plan on Wednesday with added tax cut plan

WASHINGTON (AP) -- In a bold bid to revive President Bush's multibillion-dollar financial rescue plan, Senate leaders scheduled a vote for Wednesday night on a version of the bill that adds substantial tax cuts meant to appeal to Republicans when it reaches the House.The goal is to net at least 12 more House votes than the rescue proposal received Monday, when lawmakers rocked the political and financial worlds by rejecting it.

The gambit is certain to anger some conservative House Democrats, who object to tax cuts that are not offset with spending cuts. But Senate strategists assume it will gain more House votes than it will lose.

If so, Congress would be poised to pass landmark legislation giving the government billions of dollars to buy deeply discounted mortgage-backed securities that are choking off credit and roiling the markets.

The strategy is risky because some House members might see it as a high-handed move by senators. Senate passage of a bailout measure has seemed assured all along. The showdown is in the House, but now the Senate is trying to force the House's hand.

Sen. Charles Schumer, D-N.Y., called it "a brilliant move" :rolleyes that will "help pick up votes on both sides of the aisle.".....

......The Senate bill would raise federal deposit insurance limits to $250,000 from $100,000, as called for presidential nominees Barack Obama and John McCain only hours earlier......

.......The Senate version also may include a measure to require health plans for 51 or more employees to give equal treatment to mental health or addiction if they cover such illnesses. The House and Senate have passed similar mental health parity measures, but none has gone to Bush for his signature.......(:gruebel das wird aber teuer :rolleyes haben doch bald alle etwas an der Birne)

full story:

lunar 01.10.2008 09:25

.....hmmmmm - da kommen wohl einige ins :schwitz
sollte man sich anhören/-sehen :supi Larry Kudlow ist zwar nicht mein cup of tee - trotzdem interessant :cool diese Interessenkonflikte - was sagt China wenn sie nicht am Bailout-Topf partizipieren können :rolleyes:confused was sagen die Amis wenn die Ausländer (die zwar die enormen Schulden tragen) auch was abbekommen :rolleyes:confused ooops das ist eine Knacknuss die sich Herr Paulson angelacht hat :rolleyes an seiner Machtposition wird auch etwas gesägt :supi

Bailout Bill: Pros & Cons
Discussing the pros and cons of the Wall Street bailout bill, with Rep. Paul Ryan <---> Brad Sherman


:rolleyes:gruebel...und hier eine Antwort --->

lunar 01.10.2008 10:14

...vom usagold-forum - hab aber die links nocht nicht durchgelesen :rolleyes

Melda Laure ( 30September2008; 22:48)
Recapitalize Main Street: repatriate your funds.

Dont patronize mordor.

Dont feed the tapeworm economy. It’s about to die anyway, so let it.

Melda Laure ( 30September2008; 22:34)
The bailout is toast, NOW WHAT? Well now what. To all who gave congress an earful, thanks! The truth is, come november we only get one vote each. But every day we can vote with our money. Now, as this is a gold forum I recommend you get some! And since you dont want to have to tap this stash at the first sign of trouble, I recommend the “black blade” plan: cash, savings, and a well stocked pantry- now that’s just plain hobbit sense isnt’ it?

But what can one do about the bailout? Well about those savings, we are told that if nothing is done, the credit crunch will kill all our businesses, and our “main street” retailers will not be able to stock their shelves for christmas. Hogwash!

I suggest one open an account with a local bank. Chances are it is run intelligently, and loans mostly to local business (the very places you shop at) and local persons whome they know. Chances are they dont have a bazillion dollars in CDS and other derivative exposure. In short, if the big boys are incompetent and thieving weasels then DONT LOAN THEM YOUR FUNDS! We all know who these geniuses are: JPM GS, (and the cadavers they just absorbed: WaMu, Wachovia, BS, etc) BofA, Citibarf, and all the lesser spawn of mordor.

And of course, dont borrow from these people either. They’re obviously incompetent, so why would you want to pay them, any more than one would offer to loan them the use of your funds? There is going to be trouble, the big boys are toast. But there’s no reason to be in the thick of it.

Vote your pocketbook: dish out some “capital punishment”.

Yellume! Nin mellyn, na haruvallen malta.

lunar 01.10.2008 14:10

:dumm :kopf

UBS-Aktienpaket im Wert von 1,5 Milliarden verschollen

Von Martin Vetterli. Aktualisiert am 01.10.2008

Die Pleitebank Lehman sorgt für eine weitere böse Überraschung: Wertschriften verschiedener Hedge-Funds sind weg. Auch der UBS-Grossaktionär Olivant ist davon betroffen.

Luqman Arnolds Beteiligungsgesellschaft steckt in einer eigenartigen Situation. Eigentlich verfügt sie über 2,78 Prozent der UBS-Aktien. Doch an der ausserordentlichen Generalversammlung von morgen Donnerstag wird Olivant ihr Stimmrecht nicht ausüben können. Warum nicht? «Weil wir nicht wissen, wo sich diese Aktien befinden und wer sie hat», lautet Arnolds verblüffend einfache Antwort. «Wir wissen nicht einmal, wie viele UBS-Aktien wir im Moment besitzen, obwohl wir nichts verkauft haben.» ....

......Olivant ist die erste Investmentgesellschaft, die offen über ihr Prime-Broker-Problem spricht. Sie ist aber nicht das erste Finanzunternehmen, das davon tangiert ist. Der Sturz von Lehman Brothers hatte vorletzte Woche bei verschiedenen britischen Hedge-Funds Panik ausgelöst. Unternehmen wie GLG Partners, Amber Capital und Ramius realisierten sehr schnell, dass sie nicht mehr an ihre Anlagen im Wert von 40 Milliarden Dollar herankamen. Auch ihre Wertschriften waren beim europäischen Lehman-Arm aufbewahrt. Auch diese Hedge-Funds sind in eine Falle getappt, von der niemand wusste, dass sie überhaupt existierte. Die Lage für sie ist angesichts der anhaltend unsicheren Finanzmärkte doppelt gefährlich. Sie können nicht reagieren und sind teilweise handlungsunfähig geworden......

ganzer Artikel:


lunar 01.10.2008 15:27

House Of Pain

Posted by nin_man under bailout , fail
[4] Comments

The Senate has decided to carry the bailout torch with a vote Wednesday night even though the House shot it down. The hope is to either use high school peer pressure on the House, because if the cool kids want something then the dorky kids should want it as well. It is a sign of the kind of losers that run Washington when the Senate plays the role of the cool kids in any situation, but I digress.

A tax cut was tacked on for business tax breaks (among other tax-related measures)…taken directly from a bill that the House also rejected. So let’s step back and look at what is happening, here. The Senate put together a bill, sent it to the House, and the House said no. The House put together a bill, and then said no to itself. Now the Senate is taking both of these failed bills, gluing them together, and is going to send them back to the House where of course they will pass it, because we are goverened by chimpanzees who vote by flinging feces onto a target placed in front of them.

I hear Costa Rica is nice this time of year.

Reenacting Depression-Era Scenes On Wall Street

Posted by alyx under bailout

Market is rallying today on the belief that by the end of the week we will have passed a substantially similar bailout bill anyway, where we overpay for bad loans and it’s okay to buy a bank stock again. This kid reenacted a Great Depression scene on Wall Street. I wonder if he really sold any apples? They look pretty good there…

Cat 01.10.2008 17:42


Overnight Libor interest rate index hits all-time high

By Tim Darragh | Of The Morning Call
October 1, 2008

The word ''Libor'' means nothing to most people, but it's at the very heart of the credit crisis and will have a direct impact on consumers' lives if credit markets remain ice cold.

Libor -- the London Interbank Offered Rate -- is a set of indexes of interest rates that more than a dozen international banks charge each other. Various Libor indexes are used to set interest rates on home mortgages, credit cards and consumer loans.

And here's the bad news: Overnight Libor rates hit an all-time high Tuesday. Rates shot up 431 basis points, the most ever, to a 6.88 percent as borrowing between banks ground to a halt.

''It's another piece of bad news,'' Mark Fleming, chief economist at First American CoreLogic in California, said. ''Â… Credit is getting more expensive across the board.''

According to First American CoreLogic estimates, nearly all subprime home loans and 41 percent of prime adjustable rate home loans, known by another acronym, ARMs, are tied to Libor. Typically, the interest rate on those loans is the Libor six-month index plus several percentage points.

''This is not a time when you want to see higher rates,'' Robert Levy, who represents Pennsylvania mortgage banker and broker associations, said. ''It's not good for the American public.''

Stephen F. Thode, director of the Murray H. Goodman Center for Real Estate Studies at Lehigh University, said credit markets may have seized up because banks wanted to bolster their balance sheets by having as much cash on hand as possible at the conclusion of the third quarter, which was Tuesday.

He said the six-month Libor rates are not as high as they were a year ago, but they have been rising. Normally, the Libor rate tracks about half a percentage point above the yield on U.S. government debt. But as of Friday, the six-month Libor was 2.3 percentage points above a comparable U.S. Treasury bill.

If Congress passes a Wall Street bailout package, credit markets should become more ''rational,'' he said.

The rise in Libor affects almost all consumers in one way or another, Fleming said. ''It's not just ARMs, it's home equity loans, credit cards, cars, consumer credit in general,'' he said.

It also hurts many students. Sallie Mae, the nation's largest private student lender, pegs its loans to the Libor one-month rate, which is adjusted monthly. A rise in Libor means college loans become more expensive. The rise in the cost of borrowing may mean consumers find it more difficult to obtain credit. It also means consumers will have to change their behavior.

''It costs more to borrow, which means we're probably going to have to consume a little bit less,'' Fleming said.

The Associated Press and Bloomberg News contributed to this story.

lunar 01.10.2008 19:42

Zitat von Cat



hier noch einige Zahlen und Kommentare dazu:

wem/was soll man noch trauen :rolleyes:mad

lunar 01.10.2008 20:04

Buffett scheint der Retter der Nation zu werden :rolleyes

Buffett Buys $3B of GE Preferred, Company Selling $12B of Common

Posted Oct 01, 2008 02:39pm EDT by John Carney in Investing, Newsmakers, Banking Related: ge, ^gspc, brk-a

From, Oct. 1, 2008:

General Electric Co (GE) just announced plans to raise $15 billion, with a little help from Warren Buffett :rolleyes The company is selling $12 billion of common stock to the public and $3 billion of preferred to Berkshire Hathaway.

The old Oracle of Omaha has cut deal strikingly similar to the deal he cut with Goldman Sachs. Here he is getting perpetual preferred stock with a 10% dividend that is callable after three years at a 10% premium. He’s also snatching up warrants to purchase $3 billion of common stock at $22, which is a two dollar discount from where the stock is trading right now.....

full story:

CNBC spend 40minutes pimping GE!!! U know a pump & dump scam

wanna see GE below 20 WORLD tired of the Buffett deals when companies like GE need to pay him to invest. what a joke

DOES ANYONE REMEMBER THE GUY WHO IN 1929 DID THE SAME THING BUFFETT DID?? I don't recall his name but he did the same thing when the market was crashing and he went on the floor to buy a huge amount of stock and everyone was relieved that the market is going to be alright and then you know the rest...deep depression. That's where we are going...don't buy the hype, it's your money.

lunar 01.10.2008 20:36

Paulson Rescue Proposal Is `Crazy,' Predecessor O'Neill Says
By Brendan Murray

Oct. 1 (Bloomberg) -- Former U.S. Treasury Secretary Paul O'Neill said the $700 billion bank-rescue proposal under negotiation in Washington is ``crazy,'' with potentially ``awful'' consequences for the world's largest economy.

``Doesn't this seem like lunacy to you?'' said O'Neill, who was President George W. Bush's first Treasury chief, from 2001 to 2002, in a telephone interview today. ``The consequences of it are unbelievably bad in terms of public intrusion into the private sector.''

O'Neill's objections mirror those of Republicans in the House of Representatives who rejected the plan in a Sept. 29 vote. The former Treasury chief said he's lobbying for an alternative solution that would offer guarantees for troubled assets, stopping short of purchasing the debt....

full story:

...denn sie wissen nicht was sie tun (sollen) :kopf

Silverbay 02.10.2008 03:02

Adding Sweeteners
Senate Passes Bailout Plan

«The Senate margin was 74 to 25 in favor of the White House
initiative to buy troubled securities in an effort to avoid an
economic catastrophe.»

Das mit dem "Verhindern" steht mit der Massnahme wohl
noch in Zweifel, die Asiaten trauen dem Zauber wenig.

Nun stellt sich die Frage auf welchem rebound Niveau, falls
es ihn gibt, der Weg auf die 9 im Dow motiviert ist.

Viel Glück bei Euren Entscheidungen,


lunar 02.10.2008 08:00

Bailout…………..woops!…I mean ..”Rescue Plan”….

October 1st, 2008 ……”we’ll get most of it back”…

Paulson & Company…

-> Posted by Mr.Goldbug @ 22:34 pm on October 1, 2008

Aktuelle Uhrzeit 03:56

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