The lawsuit by the FHFA against our biggest banks is infectious and will likely destroy the very banks we bailed out in 2008. More importantly, the banks are now un-investable , until there is a tobacco like settlement to ring fence the claims. This disgusting country will destroy itself, one fucking lawsuit at a time.
Since moral hazard was tossed out the window, everyone wants a piece of the action. Homeowners are suing BAC for LENDING THEM MONEY, at the peak of the housing market. Every institution that got burned on CDO’s will go after the banks, hoping to get a piece of the “settlement action,” all encouraged by the idiots in this administration, vis a vis the FHFA suit.
My guess, these suits will take years to settle, but will effectively hamstring the banks from lending money to you. The net result will be hilariously sad deflation and a broken banking system. I suspect the FHFA will win and several banks will fold or consolidate with other troubled banks. This is all happening at a time when the european banking system is in disarray and our economy is dying slowly. Frankly, I am besides myself at how incompetent the Obama administration is for letting this happen. I don’t care about QE3 anymore, since the fucking banking system is about to be led to its demise.
As an aside, I am tired of guidos mispronouncing the names of certain foods, like mozzarella, calamari and capicola. It’s not MUTZAREL or GALAMAR or GABBAGAUL you fucking idiots. You are not from the south of Italy, but the south of New Jersey, you peasant flee-bags.
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Is there a news link? Sounds bad
kidding right? Google it. I don’t link.
My bad
FHFA suing for 100 billion among 17 banks… BAC is on hook for 30+ billion of that… BAC may be in trouble but not worried about others…
you should be. The FHFA suit is the tip of the iceberg. It’s a 5 trillion dollar liability for the banking system.
Why isn’t there a witch hunt for the Angelo Mozillos and other clowns that are no longer at the helm instead?
Quick Skiffly, ready the FAZ-mobile!
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read this and get long sir fly.short thesis is crowded… does this market feel toppy..
http://www.reuters.com/article/2011/08/24/businesspro-us-usa-shortinterest-nyse-idUSTRE77N6ZS20110824
I am not shorting here. I will buy dip, sell, then short.
Anyone who sold short in early August is sitting pretty right now. Is this supposed to be a contrarian indicator? So far it isn’t.
The problem with indicators like this is that you don’t know if it’s the Smart Money or the Dumb Money that is holding the massive short position.
And either smart or dumb or both moneys held the massive short position just before the big collapse of 2008.
Anyone who bought in mid-August is also sitting pretty right now. Hooray for The Middle!
NATIONALIZE them already, who are we kidding privatizing profits and ……. You got it.
Nationalize them? What so fucktarded “Too Big To Fail” becomes a permanent taxpayer tattoo?
Fuck that… LET THEM FAIL!
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until the culprits of this heinous crime against our country are punished (the banking elite and complicit corrupt politicians) our country will continue to eat itself from within. fuck wall street and moral hazard. i am ashamed to have worked at goldman sachs for 10 years – i hope they fucking go under even if that means losing my pension.
yea bubba……..
I agree with you that these folks should be punished. I wonder if the current lawsuit has any chance whatsoever of accomplishing this. If TJWP’s article link is correct, it will do exactly the opposite.
This issue has many aspects to it. On the very superficial level, of course, it is certainly true that just because the government bails a bank out, that does not mean that the banks should not be presecuted and held responsible for criminal behavior they have committed. OTOH, it seems highly unlikely that the current lawsuit will have that effect.
What effect it will have, on the banks and the economy, is a big question mark to me. There are so many possibilities of what is really going on and intended behind the scenes. A rather confusing picture to me.
prosecuted, I meant to type.
I don’t see the probative value of your statements Frog, other than you are perplexed; all the same, thanks, I learned what OTOH means!
This is intended as constructive criticism.
My point is that we may as well admit that we don’t know for sure what is the intention of TPTB here, or how it is likely to turn out. Like the meditation gurus advise, sometimes it is best to accept our uncertaintyfor a while, rather than to jump to quick, and likely incorrect, conclusions.
Amen Brother! Trying to rationalize why the Banking industry should be bailed out and not litigated for devising instruments that the led to the destruction of capitalism is beyond me. Whether they are litigated or not, the losses are already there, just hidden from the publics’ view. Continuing to paper over the problem with fiat currency is going to lead to a whole nother set of hideous problems down the road. Unless the system is cleansed no intelligent large class of minds are going to form new industries with out direct subsidation from the government. That is not the world I want my children to grow up in. Yes, i understand we end up in a serious deflatinary vortez.. FU Krugman! Its the lesser of two evil, and has longer term viability. Deal with it people!
^ deflationary vortex
Obviously, we are going lower. You can’t up and try to destroy your entire financial system when the world is already on the cusp of a systemic failure.
It is comically absurd that our government would spend nearly a trillion dollars to recapitalize our banking system, only to turn around and decimate them when they are on the cusp of further losses driven by the housing market and potential sovereign failures.
But if its that obvious, will we actually trade lower? Or is this one of those “the world is ending” events?
In the words of Gordon Gekko, from Wall St 2, The government takes 50% of everything, now they’re working on taking the other 50.
Fly is your number “more” as well?
I also think his comment from the first Wall Street was more telling, the one about 50% of everything being owned by the top 1% of people most of whom have inherited or speculated, but not produced.
Don’t get me wrong, I love speculation, but I do acknowledge that it does not provide value added to society no matter what the ‘free market’ shills tell you.
Am I the only person here concerned about Oliver Stone’s associations and the “hidden/private” potential implications?
Of course you are not the only one here with political/economic opinions about Oliver Stone’s opinions. However, we have proved beyond the shadow of a doubt on this site multiple times that political discussions go nowhere. Political opinions are based on perceived self-interest and values. Everyone has their own, and no one desires to take up the cause of somebody else’s perceived self-interest or values. Therefore, no one cares what anyone else has to say about the subject.
Nationalization of the banking industry is the only consequence of this action that makes any kind of sense at all. It is beyond insane and well past ludicrous, to throw trillions at the banks when they needed a life preserver a couple years ago (still do) and now sue them out of existence.
That being said, one has to wonder what the actual intended result is. I find it difficult to believe that the people in this administration have no idea what these actions will bring about. Short sighted? Yes. Wrongheaded? Yes again. But stupid? I think not.
There is a plan and there is an intended result. Whether is it what actually needs to happen to get this country back on track remains to be seen. Indeed, whether the powers that be want this country back on track in the first place is now open for debate from what I can determine.
Agreud. They are stupid, but not that stupid.
They see the GM-Chrysler Takeover as a “win” because they have not gone completely tits up.
I think they figure
a) The DOJ is in increasingly hotter water with the Issa Commission and the Gun Runner Scandal.
b) The banks are easy political targets after 2008 and make for an excellent obfuscator of that DOJ problem…
b) They can spend much of 2011-12 villifying banks and showing “they are on it” with regard to their fealty to “the little guy.” The ATF problem becomes “yesterday’s news,” as a bonus.
c) They can end it all up by nationalizing the big two-to-four (BAC, JPM, WF, C and maybe even GS) and voila! Instant Canadian banking system with guess who in charge?
None other than your Lord and Saviour himself (or a commission headed by Chuck Schumer and that Elizabeth Warren chick).
Of course, none of this will actually work out in the way they intended (much as these things tend to not do), but by the time the Administration realizes it…
Too late.
Happy Skifflemas to you all.
_________________
I have $100 that says the gun runner fiasco goes aaaall the way to the top.
The canadian bank system is not nationalized idiot. Regulation is not nationalization. Sheesh.
I said nationalization THEN an eventual Canadian system, moron.
Read for comprehension next time.
And fwiw — The Canadian system is “free” but regulated to the point where it takes orders from the gummint.
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Totally treu. I spent a fair part of July in Ontario/Quebec. Socialism. Totally.
The diff. is the noticeable absence of loud-mouth 4th generation welfare.
On the flip, at least, technically, we still have 1st amendment rights here. That’s an area sorely lost in Canada.
At least the nannied folks are literate and have some appreciation for “decency.”
My first thought was “Damn. I should have bought some gold.”
My second thought was “Why hasn’t management at these institutions been prosecuted before going down this road?”
Civil Suits are always easier for the lazy.
And more remunerative.
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and it is gabagal you shadrul
lemme get sum GABBAGAUL AND SOME MOTZ
The only thing that annoys me more than hearing those word slaughtered is to have some goomba up here correct me in their proper pronunciation, i.e. MUTZ, GABBAGUL, etc. That really ticks me off.
faggetaboutit we need some mortadel ta go wit dat
Prosciutto, provolone and lightly browned onions in crepe equals Epicurious astonishment of the most memorable variety.
lol. I did have a delicious grinder on Thursday evening made with a beautiful fine capicolla with some really nice mozzarella. I was not “corrected” by the proprietors of the establishment as to my pronunciation. BTW, it is an off the menu item, reserved for discerning patrons, and well worth asking for.
like a fine bocconccini and tomatoe salad with dried black olives……damn it. i’m going to the store
Time to name drop in the book ref. arena: Jeffrey Steingarten (routine Iron Chef Judge).
http://www.elv.com – John Curtas too (2011 book out).
Why would you put mozzarella on a cappicola sandwich?
Mozzarella is the blandest of cheeses and adds nothing save subtle filler to the usual red sauce italian fare (pizza, baked ziti, lasagna, etc.)
Provolone, now, that would be the ticket.
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try some baked fontinella.then get the crispiest bread and munj. thats the ticket
Jake, Sorry, you are correct. I mis-typed. It was a fine Provolone, NOT MUTZ. Too much silly talk tricked my fingers. The sandwich was exquisite regardless of what I typed.
I don’t blame you for your annoyance with pronunciation. Having to listen to a bunch of cafones pisses me off too.
Fly for benevolant dictator of the New Republic of the United States of America.
On another note, these lawsuits are the most moronic and destructive thing the administration could do. I believe the big O was infected by some alien SAF virus (“Stupid As Fuck”), and will continue to do everything possible to destroy his presidency, and what little remains of our economy.
Any votes to encourage Fly to hire me as Czar of the Mint (possible Assistant Sec. Treasury – Sec. in second term)???
But but but zerohedge tells me that suing the banks so they implode is really a scheme to bailout the banks – http://www.zerohedge.com/news/fhfa-lawsuit-against-banks-just-subversive-res-judicata-bail-out-banks
How he hasn’t climbed a bell tower and opened fire is beyond me.
roflmao. he’s trying to produce one. they call themselves, the “fight club”. thats even funnier.
Mrs. Yogi was recounting the same story earlier today. Apparently a local “Tea Party” radio personality has been promoting the idea and that the Big O will then get more campaign contributions because of the new bailout. I think it a ridiculous proposition. They are suing to make political points with the anti-Wall Street crowd. It will fail along with the banks.
So I’m wondering if any of these are possibilities:
1. Obama really is this stupid.
2. Obama only cares about re-election and knows that pitchforks will be in fashion by the time Nov 2012 rolls around and cares more for remaining in office than a functioning economy.
3. This is nothing but a scam and the Fed will backstop any money lost in lawsuits just like they transferred toxic assets to the Fed balance sheet and backstopped derivatives for TBTFs. This is nothing more than a relief valve for people offered by TPTB to the plebs who are damn near ready to storm the Bastille.
4. Obama realizes that Wall St has turned on him so he has gone “Tony Montana” on Wall St and has decided to go down swinging.
I’d be honored to have The Fly weigh in or even mock me.
Kilroy, see TJWP’s link above for Option #5.
speechless. freakin’ genius. Machiavelli is child’s play compared to our Power Elite. I’d put nothing past them. They already did something similar with HAMP.
I believe they are stupid as fuck and delusional as to how they are perceived, and what their standing with the electorate is.
The White will wake up, sometime before the election, but it will be far too late. Big O wants to be everything to everybody. It can’t be done. If you are a Democrat be a Democrat. If you are a Keynesian, be a Keynesian. If you are a “Supply Sider” or an Austrian School be one. Govern according to your principles win or lose and suffer the consequences.
I would be far, far, happier, and would respect Big O more, if he stood for something and governed as a Democrat and things did not work out, than this squishy, wishie washie, weak president. It’s far more damaging to the country to have a weak and ineffective president, than to have one that makes a bad decision.
Yep. As much as I didn’t agree with Bush II and his policies, at least he stood for *something*.
What else would we expect? Seriously.
Obama and his cronies are all products of our modern educational system. The one that says……..no…….preaches that there is no God, there are no moral boundaries, there is no absolute truth, laws and the constitution can change to fit circumstances, there is no personal responsibility.
Seriously! What the bloody hell else would you expect from people like that!
There will be one and only one “Big O”. Oscar Robertson FTW.
I’ll gladly concede that point. Maybe we can call him “Little Bo Bo”?
Oscar Peterson takes requests.
Obama did govern as a Democrat — largely unobstructed, for his first two years in office… which — if you remember — were pre-tilled by two years prior of Nancy and Harry owning Congress.
They’ve done as much as they could as far as “governing like a Democrat” goes (i.e, pushing the social democrat agenda), and it hasn’t worked.
Now it’s either co-opt the right’s strategy (a la Clinton in 1996), or double down on the nasty.
I think it’s going to be the latter.
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My portfolio did pretty good between Jan 2009 to Jan 2011. Then the Tea Party people invaded Washington. Since then, not so good.
Oh well, all part of the game.
It’s called a bear market rally from a near-historical sell off. Check your market history and thank your stars for your winnings.
Did you really ever think the economy was in good repair?
Seriously?
18 years on, 18 years off. So it goes.
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5) affirmative action is a total failure
haha, this is a PC site tw, despite the occasional quasi-slander or obscenity.
In America, we talk about symptoms, not causes.
This much I learned early, it could have been 1984, that it’s a Brave New World… . Ha!
Is your gravatar mean gene okerland? The picture comes in a bit small on my screen but it kinda resembles him.
I always thought it was Nixon’s black ops guy, G. Gordon Liddy.
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http://latino.foxnews.com/latino/politics/2011/07/05/d-king-force-behind-georgias-immigration-law/
You can google “Tom Sneddon” too, he was my Boss many years ago (now).
If you wanna see one of my cases, check “Alphadog.”
So through the prism of an impending massive deflationary event, does the piling of billions into treasury bonds yielding negative one percent begin to make rational sense?
Mad Scientist, it makes sense to me. It’s coming from Europe. It can’t be the U.S. Because U.S. banks are considered to be so safe, that it seems like a low-risk idea to our TPTB to sue them all for large amounts of money.
Europe is in big enough trouble that it makes U.S. woes look small time by comparison. I have read that U.S. banks have been flooded with big deposits recently by people fleeing European banks.
But individuals and businesses may need to leave a substantial amount of money in their own bank located in their own home country or home region, to do their daily business in their home country. They also may have amounts in excess of the FDIC insured amount and so will not transfer that to U.S. banks but will leave it in Europe.
With that money, they have bought Swiss bonds yielding negative 1%, just in case there is a run on the European bank that is their home bank, that they need to use to do their daily business.
then why not do what the central banks are doing,, and just buy pm’s. physical, and not paper,or even miners for that fact.without having to “flee” their homeland. so that rushing to any treasuries as described by the ibd,as scared money looking for a safe place.the only safe place left is pyhsical and miners. i just dont buy the,”everybody buying notes” thesis.
Only time will tell for sure what turns out to be a safe place to hide one’s money. Some gold bugs think gold is the safe place. Others think that Swiss bonds are safer.
In gold’s pullbacks it loses a lot more than 1%. Perhaps some of these Europeans think that gold is so high that it is due for at least a major pullback and will be a better buy later on, at which point perhaps they plan to sell their Swiss bonds and buy gold.
A lot depends on how soon you need to use the money. If soon, a major pullback in gold could present a problem.
You forgot GANOLI. Never understood what’s wrong with those people.
-DT
What do you mean THOSE PEOPLE?!
Sounds like a segueway to a Joisey Shore / Springsteen parody if I ever heard one:
http://youtu.be/EyBwZeoxISk
(hoping you mention some saudis or Britney soon …..)
The mere thought of two or more banks managed by failures, for failures, with failed boards being consolidated in to a single larger recipe for ineptitude is enough to make me gag. Step #1, fire all Directors and Executive Officers of every bank with more than $500 million assets.
Wild hogs run rampant in unusual locale
NY seeks stop to wild hogs in Staten island
and bac , jpm, and all stock exchanges !
where’s my devil dog fellow cannie when you need him ?
IS that ’08 pinnapple coffin ready to go ?
Ha Ha Ha.
Bailed them out in 2008 and will bail them out again after the Feds strip their cash.
It’s like Yogi Berra once said: “It’s like deja-vu, all over again.”
Infinite clawback, history will be rewritten to be much fairer.
As we learn in the Patrol, he who controls the Present controls the past.
Sustained.
I’ve never come across a more agreeable blog post. Having grown up in Rochester, NY where trashy i-talians reign supreme, the enunciation of various foods drove me fucking insane. GAB-A-GOLA sandwiches and MAN-EH-GOUT for lunch. Living in Boston now, my friends and I reference a fictional Italian character to impersonate the shit heads we grew up with. Meet Joey Boombatz, the plumber/electrician/driveway sealer/roofer/snow plow guy.
In regards to the bank lawsuits, I was quite surprised a couple weeks ago when Fannie and Freddie announced plans to go after BAC. I mean, you gotta love politics. The feds promote subprime, then years later sue those who helped bring their idiotic policy to fruition.
Sustainable model? Not so much.
At heart though, if Americans weren’t so clueless, they’d be able to see through this shit and completely revamp Congress.
2010, just a start.
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you guyz just dont see what obama and holden are doing,via the “chicago roll”. ya ever hear about how that game is played. and the ag is a dumb patsy in all this,just like the “do nothing daughter who is the ag” of illinois. every bank that got bailed, has to ante up. or else.thats the chicago roll.strong arm, with the premise of legal justification if there is no compliance.then O’assho looks like the hero when all the tbtf banks pay the strong armers’ some money,then turn around and tell the american people,”look we got some money back from these horrible people to pay down the”misery” we went through. dog and pony chicago style, all the while the dagger is pressed against your neck, chicago style…. these lawyers that are gonna defend these banks……….they better be fucking wolves of the highest degree. then chicago o”assho will change his tune when he knows that there could be someone that could tear out a chunk of his flesh in the legal arena…….of which he sucks at anyway
Whattsamatta U ?
Whattsa matter you? You gotta no respect. Whaddya think you do? Why ya looka so sad? Itsa not so bad. Itsa nice place. Ah shaddup you face.
The wet get wetter.
What I find funny is that the bailouts were to restore confidence of the people in the system…and now this. Our government is lost and they will blame everyone but themselves and this latest action shows panic with desperate measures.
Along with the government I also do blame homeowners that got into these mortgages they didn’t understand. If they did understand the terms then you have no excuse and if you didn’t, why the hell would you sign such an agreement because obviously you’re not responsible enough to handle your finances. If it sounds too good to be true, it probably is.
For the record I do have a subprime mortage but I knew what I was signing and I can make my payments. My only problem is that I’m underwater on my house and its difficult to refinance. But that’s my problem and if I were to blame anyone or anything else I would be just as irresponsible and screw that. It’s called working harder and not buying crap I don’t need and putting the money towards my principle.
Guido at the DMV:
http://youtu.be/jARUihyoJOI
Also, tell the English that it’s pronounced “secretary”, like it’s spelled, not SECRETTRY.
And don’t forget about schedule vs. shedule. That one is like fingernails on a chalkboard.
I always liked “Shed-dual.”
And how they say “priv-ah-see” instead of “pry-vah-see.”
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Aluminium …. WTF?!?!?!
I was thinking about adding that one as well, but it is a bit more open to debate. Overall I do agree with you though.
Yeah, I must say I find all this amusing (being European). It’s always at least some solace to see, that others can act totally retarded too (though it doesn’t really help me or anybody else).
Have seen little to no mention here about http://www.quora.com. Seems to me a provocative, intelligent and stimulating source for creative thinking. Or, has Ozero destroyed that in us?
Peter Brandt FTW
lol,drummer boy, from ur moth to gods ears. good observation.
mouth…
Hahaha … Ironic!
First oatmeal and now Italian cuisine? What is this ? Food Network?
Really……..carry on. Most amusing to see people of our age discussing oatmeal like the old dudes around the morning coffee table in Duane’s Restaurant here.
I’d be happy to open a threat on guns Heaterman.
I would like an over&under Mossburg with a 7:1 loading capacity.
Something tells me you’re a wealth of info in this area. Hints or suggestions in the self-defense arena?
I’ll never deny, I’m a foodie.
“thread”, not threa_t
RE: guns
What type and what purpose?
target/sniper?
close in self defense?
just fun?
competitive shooting?
Firearms have been a great source of personal enjoyment my entire life. I would be happy to share what meager knowledge I have obtained.
Pretty much home invasion (tho sniper weapons, in the long term, might be home invasion, self defense reasonably necessary).
Post 2008, more and more loitering, trespasses, assaults, thefts, and I live in a… the good part of town.
Tough to beat a slide “pump” action shotgun with an extended magazine (7-8 shells) loaded with some 00 buckshot for close in work.
Look for a Remington model 870, or a Mossberg with an 18-20″ barrel. There’s a guy near me that did tunnel work in Vietnam and he said the 2 favorite weapons were a pump shotgun or the standard issue model 1911 Colt semi-auto pistol in .45 caliber.
The shotgun will absolutely make a serious mess of whatever you at under 25 yards.
Squibb. Jot. Note. Underline.
Thanks HM.
It has to be made just right.
People our age? What about the people whose age has them how they prefer their Cream of Wheat? Yuk!
Oy Vey!!
I agree with you Neighbor Fly about the mispronunciation of certain foods. You deal with the guidos in South Jersey and I hear it all of the time from the yentas on Long Island. You know, foods like Hamantasch, Knishe, Falafel, etc. It’s Meshugeneh. Feh.
Dude, there is no other way to pronounce them, is there?
Jeremy, if you post the last one, I’ll chill.
We are all going to die.
… everyone seems to envision themselves as some …
Nobel Laureate in Economics !!!
—
Tryin’ to “make sense” of it all !!! LOL
Not gonna happen, people !!!
—
HELLO !!!
Trade What You See !!!
Learn to read a fuckin’ stock chart !!!
Learn to read “Market Momentum” !!!
Learn to read the “tape” !!!
Git a “feel” for “Market Action” !!!
—
Leave all the other stuff to Krugman, Schiff, Roubin etc…
Trader’s … trade !!!
.
.
In The Land Of The Blind … The One-Eyed Man Is King !
Shut up
Alas … Sir Fly !
You will more than likely NEVER be awarded a Nobel Prize in Economics ! I’m pretty much willing to bet my life on that ! 🙂
—
OTOH … Literature ???
Hey ! You DO have a gift !!!
I would even venture so far as to say … you just
may be a better “writer” … than a “trader” !!!
NOT A CRITICISM … RATHER A COMPLIMENT !!!
You are certainly NOT an “Economist” … try as you might to portray one on the “Internets”‘!!!
But …
You ARE an interesting read !!!
Let there be NO doubt … about that !!!
.
Shut up.
How does this Fucker get so many thumbs up!
It’s Bullshit!
A ban must be in the works…
I was thinking the same thing. There is no way Alf is all of a sudden popular around these parts. lol. It’s like the nerd squad taking over varsity football.
I will refrain from asking IT to investigate the thumbsup-GATE. However, let it be known, if ALF is spamming it, he shall be banned for eternity.
He will need a bailout, and then we can always sue him later for his thumbsup antics.
It seems your posting is one of a pompous jackass, craving attention.
It appears, you bring nothing to the table, except a strong desire to be noticed.
However, you do have the uncanny ability to Bernanky the thumbs up indicator.
NOT A CRITICISM … RATHER A COMPLIMENT !!!
“Trade What You See !!!
Learn to read a fuckin’ stock chart !!!
Learn to read “Market Momentum” !!!
Learn to read the “tape” !!!
Git a “feel” for “Market Action” !!! “
Oh, that’s some outstanding actionable wisdom. You forgot to add:
Buy high; Sell low !!!
Where is your website? What real-time trades have you made?
You are certainly NOT an “Investor” … try as you might to portray one on the “Internets”‘!!!
But …
You SEEM TO BE an annoying oddity !!! You’ve got that going for you !!!
Let there be NO doubt … about that !!!
In the future, please bring some content of value or don’t bother posting here.
I suspect ALF is actually a high school junior…
I suspect YOU are fuckin’ moron !
.
economist,no. but an observer of scams.connecting those dots is profitable to. krugman, schif, and roubini are strictly noise
In FAZ We Trust
in god we trust. in gold we get paid
Never go ‘Full Retard” like Sean Penn.
alf44 banned
For the record, it is an asinine thing to suggest one should only trade the tape in front of him. Some people plan for longer durations and position into a thesis over an extended period of time. You will NEVER make a killing trading the tape in front of you, but be reduced to a piker day trader.
… THAT … is just … simply NOT TRUE !!!
—
With All Due Respect !!!
—
I AM … sorry … BUT … that is just NOT a true statement !!!
—
You most CERTAINLY CAN … “Position Trade” … based on … “tape reading” !!!
FURTHER … if you would actually bother to READ your OWN fellow BLOGGERS … THEY ARE ALL DOING JUST THAT … WITH SUCCESS !!!
—
Just sayin’ !!!
.
How does one “read the tape” nowadays? There is no longer a tape machine, just a digital flash across a screen.
Alf is on probation for full ban. Should any of his comments receive more than 20 thumbs down, making him a “community organizer,” he will be banned.
Ibc does not tolerate his sort of dissent.
Dissent is treason, punishable by death.
Alf will be banned, if he is spamming the thumbs up button.
THUMBSUP-GATE will NOT be tolerated.
Yeah !!!
I basically nominated you for a “Nobel Prize for Literature … in a previous post !
What do I haffta fricken do … for Christ’s sake ?
.
Limit yourself to one annoying post a day, for starters.
_________
the senator is right again.
BRING THE CONFETTI!!!!!
Sometimes Alf says a lot of different things, so that it would be easy to agree or disagree with some of them. Since there is no button for “agree with part of what you said and disagree with part”, people may click on a thumb anyway, but it can’t tell the whole story. I guess they could post, pointing out what they agree with and what not. But then that would be some extra trouble, so they just randomly select a thumb.
… I speak HONESTLY !!!
Some like it !!!
MOST DON’T !!!
—
I ain’t here to patronize … and suck up !!!
THAT does NOT enhance the dialogue !!!
And … for the record … I DON’T …say alot of different things !!!
—
Far From It !!!
Good Night, Sirs !!!
.
“And … for the record … I DON’T …say alot of different things !!!”
I have to admit, I thoroughly enjoyed that.
No, it’s not random. The separate paragraphs in one post taking up half the screen certainly weigh heavily in my rating considerations.
exactly. full ban based on nonstop CAPS and the true assholeness of all the other retarded posting bullshit. may cocaine gorillas find alf and end the annoyance.
Rumors in Asia/Australia are about Soc Gen again.
soc gen is 28 leveraged but says after netting its 23%. Whoopee. BNP says it’s 23% leveraged. Euro banks are in trouble so talk is here.
also new rumors about debt hard landing in greece.
The entire BAC lawsuits, etc came out on TV months ago when 60 minutes did the story. There was so much fraud with those fake signing houses. There is no defense at all, the lame “I didn’t know” that every signature on the documents were all the same is going no where. IMHO there really should be Criminal charges and not just civil. There is a reason why I have been long FAZ for the past year…the clam really messed up my timing..oh well.
Nymph
That shit all excuses because deadenders don’t want to pay back the money they owe on their homes.
They shouldn’t have borrowed the money. And if the banks didn’t lend to minorities they were tagged as racist by administrations of both parties starting with Clinton.
The current cockroach in the White House is starting that shit all over again.
So we need to stop peddling the bullshit about criminal behavior and crap like that.
I can’t comment on the 60 minutes story as I haven’t watched that garbage for over 25 years.
The mortgage fraud re the affidavits had to do with the robo signing of the Affidavit of Indebtedness and Ownership of the Notes (required in most foreclosures) and not the actual non payment of the mortgage.
It really affects the ultimate title holder as to the validity of the title which should be a lesson to all.
Always get an owners title insurance policy. It is cheap as a simultaneous issue because the mortgagee policy only protects the lender.
It would only be a fraud on the debtor if they were actually current (I bet 1% or less of time). It’s really a fraud on the Court.
The current suit by the Feds has to do with alleged misrepresentation to FNMA and FHMLC re the quality of the packages sold to them.
A Pox on the following:
The Feds who allowed this to happen because they required the Banks to lend to the unqualified (under the CRA) if they wanted to expand.
The borrowers who refied and pulled cash out to buy boats,cars,vacations, and leverage into more houses they can flip, etc.
Allan Greenspan for keeping rates artificially low.
The politicians (like Obama who received the 2d most lobbying $$ from them even though in office as a Senator for less than 2 years) from the crooks at FNMA and FMLC.
The Banks for not verifying some of these borrowers assets and income.
Sorry for being verbose.
There is much truth in your verbosity.
J and Trader…The Banks were hiring people/companies to Fake signatures on Foreclosure documents. This is straight out fraud and they should go to jail.
http://www.cbsnews.com/video/watch/?id=7361457n its preview
oops are all excuses…
why is this sonofabitch still in office?
europe and asia getting murdered this morning
Was there any doubt?
what if instead of greese leaving the euro, germany bails?
Same shit, different day.
And when Germany winds up with the world’s strongest currency what will that do to their export-oriented economy? They would be futucked.
print more marks
ok fly …looks like me very wrong you very right
http://www.forexpros.com/indices/indices-futures
Italian 10 year still rising this AM currently @ 5.55 up from 5.28 on Fri. Fugly.
Off to get another capicolla and provolone.
Leveraged 2:1 short SPX futures, looking nice with DAX down 5 percent plus.
Fly
I’m not so sure BAC is in that much trouble here. The cancer is in the two subs it bought countrywide and Merrills. Now it not a done thing that those fuckers all doing the suing can get to BAC through the subs.
The fucking nerve of those sacks of shit going after BAC is incredible. They bought CW and ML. Those investors never had BAC behind those two when they bough all this toxic shit off BAC and to now go after BAC is theft.
BAC will walk away from CE as it should and then aks these sacks of shit to go after them and defend why an guaranteed sub has liability. Throw CW and ML to the fucking dogs, or at least keep ML.
should have fucking proof read the crap. Sorry
Fly, it sounds like you spent the weekend at the Jersey Shore?
Was that you I saw climbing out of your Lexus wearing the black sox, sandals, speedo and wife-beater t-shirt?
I’m starting all over again
I’m not so sure BAC is in that much trouble here. The cancer is in the two subs it bought… Countrywide and Merrill. It’s not a done deal that those fuckers doing the suing can get to BAC through the subs.
The fucking nerve of those sacks of shit going after BAC is incredible. They bought CW and ML. Those investors never had BAC behind those two when they purchased all this toxic shit. And to now go after BAC is theft.
BAC will/should walk away from CW, as it should and then ask these sacks of shit to go after them and defend why an un-guaranteed sub has liability upstream to the parent. Throw CW and ML to the fucking dogs, or at least keep ML.
EXACTLY J. This govt should be sucking the kneecaps of BAC.
Noted on the wires today and quoted here> Triple bearish warning signs in the SPY: H&S continuation, bear cross and bear flag confirmation.< Holy shit, sounds serious. Maybe the flight to fright will be overbooked.
Just take the banking bastards out back and put a bullet in their greedy brains. Done deal. Incentive for everyone to play by the rules next time. Then gat back to normal.
The banks were arrogant before the financial crisis. Most big banks in NY converted to Federal charter (license to do business) to avoid NYS rules. One of which is to get approval for new loan products. They never needed this approval from the FRB to sell the “no background check” mortgages.
One of the banks declared they have mastered credit risk when I asked about their reason for yearly increases in Allowance for Loan Losses. I thought the investors will sue. Never thought the Federal government will sue. If the banks knew, they wouldn’t be in that risky business, and they wouldn’t have fucked us, and the US economy.
The flood gates title and current futures action made me think of this album cut from the seventies, particularly what happens at 6:53
http://www.youtube.com/watch?v=0eGhN_DLk7Q&feature=related