Back in 2007-2008, Treasury secretary Paulson was doing ridiculously bad press conferences, stuttering his way into fits, trying to calm the markets. What is this fuckface Geithner doing?
ABSOLUTELY NOTHING.
He did one interview with Cramer and was very smug in his demeanor, frankly.
What is he waiting for, a surprise MS bankruptcy?
Clearly the market is suggesting something is severely wrong with OUR banks, not just Europe’s. Yet all we hear is “everything is okay” and “all of the problems are in Europe.” Well, looking at the insurance, brokerage and bank stock prices, I beg to differ.
Gold and silver are enjoying catastrophic drops this morning. If there is one thing Bernanke accomplished via “Operation Twist”, it was to annihilate the dollar haters and make treasuries the ONLY safe haven in the world. Think about it. The Swiss Franc trade is dead, as is gold and silver. Yen is still alive, for now. But the main beneficiaries are treasury and dollar bulls. Obviously, this bodes well for US financing.
I might execute one or two day trades today. But make no mistake about it, we are in liquidation mode. Tread carefully.
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He’s busy playing a game of “BASEketball” – http://twitpic.com/1f3zp
“make no mistake about it, we are in liquidation mode. Tread carefully.”
Thank you sir…I have a couple of orders in wating to see if they get hit but perhaps I will return to sitting on my hands. h/t
Thanks Fly..have a good weekend. Geithner will be replaced soon. Stock market will revert to this new reality of 0 growth 0 confidence and 0 interest rates…. Oh and remember when the stock goes down the dividend goes up LMAO
oh, and 0 jobs.
0bama
No bounce today. Everything unravels on Monday. 1987ish.
“What is he waiting for, a surprise MS bankruptcy?”
Has there been a rumor about that?
Rumors going around that they have French bank exposure to the tune of 160% of MS market cap.
That’s bullshit. They wouldn’t be allowed to run that sort of exposure to the Frog banks.
I bet some idiot has taken gross exposures without netting.
They better come out and clarify though, surely.
all of the problems are in Europe
yeh, they were saying the same thing in 1940
He is busy trying to compile his tax return for next year. Busily gathering receipts, and studiously gaming loopholes…hoping all the while he doesn’t fuck that turbo tax up yet again.
Barunk Huslain Obummer
Is this going to hit LCC
http://www.marketwatch.com/story/jp-morgan-cuts-amr-view-to-reflect-recession-2011-09-23?link=MW_home_latest_news
Fly is right on the money again. We are in liquidation mode. Any bounces will be met with selling pressure as an opportunity to dump.
im buying the open.. day trade on the long side
good call…im guessing we hit 1140 min
BOOOM!
ill buy gold and silver. inflation is just money creation, simple as that
when the dollars spill out into the economy from treasuries, you’ll see CPI in no time
see: CPI calculations from 1980ish w/ current data
OK!! Who has more headline risk bulls or bears
That is because Geithner is really Doogie Howser, MD and is busy preparing for the Tony Awards.
In and out of SMH twice.
Thanks Mr. Market.
And for those that don’t know here are some pictures of a young Doogie Howseer, MD a/k/a Geithner.
http://www.imdb.com/title/tt0096569/mediaindex
re that Zero hedge rumor on Morgan Stanley. that Russian fucker ought to thrown out of the US and handed to Putin to be his bitch for a few weeks and then executed by firing squad.
MS doesn’t have 40 billion exposure on a gross basis to the Frogs. All that shit is netted and frankly the money go end up going either way.
Zero hedge has no way of knowing yet he still went with the story. I have no risk in MS other than they’re one of my brokers, but seriously that fucker is a fucking menace.
Netted against what?
Other insolvent banks?
Who knows if the counterparty CDS are any good.
Nobody knows anything which why MS’s stock price is in the toilet.
We need clear transparency in the CDS market in order to see the financials move higher.
Until then they are just a giant question mark which means nobody is going to touch them.
Oh shit.
I am the main beneficiary, as are my legion of do-the-Hugh dance acolytes.