iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,406 Blog Posts

Prosecute the Short Seller?

I got a better idea, fuck face.

How about prosecuting the asshole bankers, who took the deposits of hard working/lazy Americans and gambled it away—like degenerate OTB guys? How about that, huh?

CNBC is now frothing from the mouth, angered by the amount of coin being minted on the short side. They know bad markets equal bad ratings, resulting in horrendous ad rates. So, after all of their bullshit CNBC sponsored failed rumors (Gasparino, Faber, Pisani, Cramer, Maria the Whore), they are now inviting guests to demand the ‘prosecution of the short sellers.’

The hypocrisy.

This is classic/ Orwellian bullshit.

While it’s true, many short sellers are egregious, with their rumors and ‘reverse hype.’ However, it is FAR MORE pervasive on the long side.

My point:

It is not the short seller that caused the bleeding out of 401k plans and pension funds. No. Instead, it’s a combination of the borderline criminal behavior of investment bankers and Wall Street deal makers, pushing the envelope on leveraged bets, and the fucktarded stewardship of most money managers out there—unable to protect their assets under management.

If we are going to have a witch hunt, let’s string up the guy who took the life savings of a retired coal miner, then invested it in a CDO squared!

Top pick: Short [[WABC]]

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44 comments

  1. fuckface

    is fuckface one or two words?

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  2. Steven Place

    For further reading, Macro Man expounds on how short-side analysts will start rating companies “doubleplusgood”

    http://macro-man.blogspot.com/2008/07/slippery-slope.html

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  3. gappingandyapping
    gappingandyapping

    No shares of WABC to short at Ameritrade.

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  4. The Fly

    Fuckface is interchangeable.

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  5. nullpointer

    amen brother

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  6. The Fly

    I could only get 2,000 today.

    Keep trying.

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  7. nullpointer

    they are trying ~anything~ to stop the panic

    “BUSH LIFTS EXECUTIVE ORDER BANNING OFFSHORE OIL EXPLORATION”

    surreal

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  8. CAP

    Fuck CNBC. I hope they get foreclosed on. I hope GE stock goes to zero and Maria and company have their entire life savings invested there. We’ll see Maria whoring herself for money and Asshat Neale asking for handouts outside Grand Central. FUCK them all.

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  9. austin

    no shares at etrade…

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  10. Gwar

    Right on FLy.

    I’d sometimes rather be in an Orwell world than witness all of this mass illusion

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  11. Juice

    BIG is still a short.

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  12. Adam

    here here. What a f***ing joke they have become. Some dickhead was just on blaming shorts for putting IndyMac employees out of work.

    Yeah, OK, it had nothing to do with the garbage on the books.

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  13. TraderCaddy

    I have others I would like to see prosecuted first:
    Al Gore for perpetrating a hose.
    Mark McGuire and Barry Bonds for being druggies and ruining the Home Run record.
    The guy at the Chop Stix restaurant down the road who gave me food poisoning.
    The sports writers who have been cramming Michelle Wie down our throats for 5 years.
    The pos who almost ran me off the road while running a stop light in NC last fall.
    The editor of the NYT for destroying what used to be a good paper.
    The CEO of Enron for ruining the lives of it’s employees. Oh wait. He was prosecuted.
    Half the politicians in this county who are worthless.
    and on and on….

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  14. Jakegint

    The sports writers who have been cramming Michelle Wie down our throats for 5 years.

    Too late on these guys.

    I’ve already gotten them a papal absolution.

    ___

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  15. Juice

    fm minyanville

    Preferred shares and hybrids of regional banks and brokers getting unmercifully hammered. And I mean hammered.

    The Merrill (MER) 8 5/8 % I mentioned a little while ago at 11% is now 12%.

    National City (NCC) hybrids are trading north of 20%.

    Wachovia (WB) 8 on a 13%.

    And so on. The market is telling us that the financing window, at least in preferred, is closed.

    I know that everyone keeps telling me that Lehman (LEH) is OK. That everything is peachy.

    Note that I haven’t had a position in the stock or the preferreds since mid-March. But the preferreds trade suspiciously weak. They’re tanking to 13-14% yields.

    Either there’s a forced seller (doubtful) of there’s a problem there (likely).

    Now that Fannie and Freddie have financing…

    Who will finance Wachovia (WB), Merrill (MER), Lehman (LEH), Morgan Stanley (MS), Citigroup (C), etc?

    Well, not moi.

    Will you? If not, there could be major problems. They all need capital and I have no idea where it will come from. Look for dividend cuts, headcount reduction, balance sheet delevering and… big-time increase in the cost of credit. If they can get it.

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  16. mrkcbill

    This is an unbelievable day with the utter carnage in the banks and CNBC is another day at the office. I want to see a logo in the lower right hand corner of the ticker like BANKING IMPLOSION DAY 1…

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  17. mrkcbill

    This is an unbelievable day with the utter carnage in the banks and CNBC treats as another day at the office. I want to see a logo in the lower right hand corner of the ticker like BANKING IMPLOSION DAY 1…

    CAP…Very Gappingesque

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  18. Donny

    Motherfuckers keep talking about a rally, scarring the shit out’a the shorts, this in turn leads to short lived strength. Like this morning.

    Listen fuckers, there ain’t any conviction to buy this market! Any run-up in prices will be followed with deeper lows.

    BTW, per CNBC ~ “Poole: Moral Hazard risk have risen.” No shit, fuckface!

    BTW II, I swear that motherfucker, WaMu, is going bankrupt. It may be next.

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  19. Crude Broker

    Hit the nail on the head with that post. I’m tellin’ you guys, turn off CNBC. Eric the Oil Barrel made a good move to go to Fox, even though they’re are retarded as well. His teeth were too white to be on CNBC.

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  20. calvino

    Fuck you Meatball Charlie. You get skewered for hyping the monolines on three occassions, making fucking millions for friends and family.What I want to know is the source for all these’ leaks’ that Meatball Gasparino would amazinglypop out of his ass. Fuck you Meatball, you fucking douchebag.

    The foregoing is jsut an opinion and not a libelous statement of fact. For all I know, Meatball is a nice guy. Just don’t bring him to dinner before you cover your mortgage, ok?

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  21. Cardiff_Giant

    Is Maria really a whore?

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  22. Mr. Spock

    Query: Has anyone been watching the chart of NLY today?

    Fascinating, Captain!

    ___

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  23. calvino

    OH yea, it’s two pm. Here comes Lex Luther and the PPT.

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  24. TraderCaddy

    If I had to guess I woud say the leak comes from the Gambino family.
    Just kidding. My laywer told me to put in this disclaimer. He would be a fun guy at a Yankee game I think.

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  25. DPeezy

    But really, who needs banks anyway?

    We should just go back to the barter system, like the ancients. Honey, where are my trade beads??!

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  26. awake

    Hank Paulson = Lex Luthor? I love it, we need a name for Bernanke.

    Doubled my SKF position on the way up this morning, minting a nice profit for me.

    It’s going to be interesting to see what these inverse ETF’s do during insane market volatility like this. Fly, have you done any research into this? My team hasn’t done much more than pulling the Proshares prospectus listing the holdings of each.

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  27. The Zombie

    The Fly has proven it once again–The Fly is God

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  28. calvino

    Awake, I refer to him as the bearded chairrat, or chairrat for short.

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  29. calvino

    Andrew Brenner, MF Global = douchebag of the day. “if the governemetn needs to get involved in all private companies, so be it.”

    This is just a personal opinion, not a libelous statement of fact. Although he would solve a lot of food inflation problems if he stopped stuffing his fat snout.

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  30. Jakegint

    You’re in luck.

    WABC looks to be getting some kind of “stones off the chest for a minute” relief rally.

    If that shit meanders its way back to $43.75, you won’t even need to leave an offering to Shorticus on his altar.

    ___

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  31. Mr. Spock

    Calvin, are you shitting me?

    Did that douchebag really say that?

    Holy shit, he should be tarred and feathered and ridden out of town on a rail.

    I mean, shit, Maxine Waters is one thing, but this douchebag…

    Cover that shit with chicken down!

    __

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  32. Big Mike

    What’s up with Dylan Ratigan and Mellisa Francis? Aren’t both married?
    And Ratigan has a fucking house in the Hamptons? I thought journalism was a “poor mans” profession…

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  33. calvino

    hE SAID IT, in everyone’s face, on Bloomberg.

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  34. gas grass or ass
    gas grass or ass

    Is a three legged goat a non-performing asset?

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  35. TraderCaddy

    I hate to say it but short the Tampa Bay Rays (although I ate seven Hebrew Nationals at $1 hot dog night a couple of weeks ago).

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  36. alphadawgg

    TC–
    As a Boston Red Sox fan, and citizen of Red Sox nation, I would concur.

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  37. Zenprofit

    Dylan Ratigan:

    http://guava.blogspot.com/InfoHunks/2007/09/infohunkscom-um-not.html

    As for his personal life — he was engaged twice but never married — the blogosphere buzzes, and not always favorably. On Infohunks.com, a Web site dedicated to fawning over TV anchors, one blogger relayed a story about Mr. Ratigan not paying for dinner during a date. The story, he admitted, was true, adding, “I know it sounds like the dog ate my homework, but I really left my wallet at the office.”

    Poor man’s profession??? Ya gotta be kidding. Fast Money is a top CNBS show. Maria reportedly makes (at least) $5 mill/year

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  38. TraderCaddy

    Alpha- But can you get free parking for three or more in the car, bring in your own food and drink, and have $1 hot dog night once a week at Fenway?
    Plus I think the old folks in St. Pete can get oxygen tank refills.

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  39. Black Bart

    Thank you, I’ve been waiting for to say fuck face for years. Now, just throw in a skull fuck, and my day will be complete.

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  40. DSB

    gas,

    In Arkansas a 3-legged goat is considered an easy catch.

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  41. Jim

    Amen to those words Fly. Public hangings should be arranged for the “masters of leverage”. This incredible leverage shit caused the 1929 debacle.

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  42. Dinosaur Trader

    This post rules.

    -DT

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  43. Stocksrider

    I think when markets tank, media gets more rating simply because the public is looking for more information in the proverbial dark. And its the same pattern when markets reach a new high because again the public wants to know where they can invest in. Think of an ant who was just displaced from the line leading to its colony. In fact seems like peaks in stock blogs visits happen more often during troughs and crests and not so much during a dull market. I could be in denial.

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