ALERT: ITALIAN, SPANISH AND BELGIAN YIELDS ARE CRATERING

Italy -10% to 6%
Spain -10% to 5%
Belgium -6% to 4.38%

+9

No. Ticker 1-week Return
1 DEXO 115.38
2 CEDC 67.97
3 DYN 43.30
4 MBI 40.43
5 INHX 38.12
6 CX 37.93
7 ZUMZ 37.29
8 LAVA 36.53
9 TWER 36.46
10 ZOOM 35.96
11 CHRS 33.94
12 ERX 33.88
13 TNA 33.50
14 VICL 33.33
15 USG 33.04
16 HEB 32.72
17 OCZ 32.45
18 EDC 32.43
19 GMXR 32.20
20 PVA 32.05
21 GLUU 31.73
22 MTOR 31.43
23 ORI 31.28
24 HDY 30.88
25 FAS 30.68
26 ARNA 30.31
27 AATI 30.20
28 BZH 30.05
29 CLWR 29.87
30 JRCC 29.62
31 MTW 29.17
32 TEX 28.73
33 ANR 28.65
34 GDP 28.64
35 ING 28.59
36 LEAP 27.83
37 CHTP 27.59
38 LZB 27.58
39 TTI 27.47
40 WDC 27.40
41 MHR 27.25
42 JBLU 27.01
43 YOKU 26.97
44 MITI 26.92
45 CSIQ 26.11
46 XING 25.87
47 X 25.55
48 SCS 25.28
49 UPRO 25.23
50 SLXP 25.16

Conservatives say they will try to block the International Monetary Fund from bailing out Italy and Spain, which they say could leave U.S. taxpayers with a huge bill.

Republicans on both sides of the Capitol complain that the Obama administration has refused to share details of what Treasury Secretary Timothy Geithner is discussing with European leaders amid reports the IMF could intervene.

Sen. Tom Coburn (R-Okla.) says he is planning legislation directing the U.S. government to veto an expanded role for the fund.

Senate Republican Steering Committee Chairman Jim DeMint (R-S.C.) and Rep. Cathy McMorris Rodgers (Wash.), a member of the House Republican leadership, also have legislation to curb the proposed intervention.
“I’m adamantly against the IMF being involved in this,” Coburn said.

“We’re throwing good money after bad down a hole that I think is not a solvable problem,” he said.

“Europe is going to default eventually, so why would you socialize their profligate spending,” he added.

Coburn estimates the U.S. could be liable for as much as $176 billion if the IMF shores up Italy and Spain and the European Union collapses.

President Obama this week said the U.S. “stands ready to do our part” to help resolve the crisis, and Geithner in October said using U.S. tax dollars through the IMF to shore up Europe’s efforts was appropriate.

DeMint offered an amendment to the defense authorization bill instructing the U.S. executive director of the IMF to use the voice and vote of the United States to oppose funding of the European Financial Stability Facility, the bailout fund that would be used to stabilize countries at risk of default.

“We need some transparency about what’s really going on,” said McMorris Rodgers. “It’s hard to get information. We’re talking about U.S. taxpayer dollars being involved in the European bailout. The administration needs to be honest with the Congress. I believe Congress needs to be involved in making this decision.”

But Coburn and other Republicans are skeptical their effort will be successful. They expect Senate Majority Leader Harry Reid (D-Nev.) to prevent the Senate from voting on legislation to block U.S. funds from being used in an IMF bailout.

Even if it passes Congress, Coburn says President Obama would likely veto the legislation.

IMF Managing Director Christine Lagarde announced Thursday that Group of 20 nations are prepared to fund a massive IMF intervention.

“If circumstances require, the G-20 will commit the resources that are necessary for the IMF to play its systemic role,” she said, according to Bloomberg. “That gives you a range that is almost without a cap, without a limitation.”

An IMF spokesman said Wednesday the fund is not in discussions with Italy about a bailout.

An IMF bailout of Italy would have to be limited unless rich nations boost its resources. The IMF has about 390 billion euros, but could only spend about 150 billion on Italy because of other commitments. Bailing out Italy alone could cost 600 billion euros, according to Desmond Lachman, an American Enterprise Institute scholar and former IMF deputy director.

Republican lawmakers were alarmed by business news reports earlier this week that the IMF was ready to expand its role in Europe. Traditionally the fund has worked with relatively small, emerging economies. Switching its financial firepower to established economies the size of Italy and Spain would mark a significant change of mission.

Senate Republican Policy Committee Chairman John Thune (S.D.) and other lawmakers said they would join an effort to block an IMF bailout of those countries.

“I’m really leery and skeptical about having the IMF be the point on that because that exposes the U.S. because we’re such a big funder of the IMF,” said Thune.

“I don’t know why the European Central Bank wouldn’t do that directly as opposed to going through the IMF except to get other nations drawn in,” Thune added. “It’s not our best interests or Europe’s best interests to have the United States bailing out countries that need to deal with their own issues.”

Sen. Orrin Hatch (Utah), the senior Republican on the Senate Finance Committee, said “he’s very concerned” from what he’s heard in recent days and would support the efforts of Coburn and DeMint.

“There’s a lot of concern,” he said. “The reason we’re in the situation we’re in [is] because of excessive debt in the industrialized world.”

Domenico Lombardi, a senior fellow at the Brookings Institution and a former board member of the IMF, said the advantage of bailing out Italy or Spain through the IMF instead of the European Central Bank is that doing so would allow European leaders to condition aid on the implementation of fiscal reforms.
Lombardi said the IMF has the authority to attach strings to a possible bailout and monitor the actions of the recipient countries, which the central bank does not.

“The EU system does not have ability to impose conditionality, but the IMF does,” he said.

Lombardi said the Republican criticism has some validity because if the IMF loaned massive amounts to Italy and Spain and failed to prevent a default, the IMF, not the European Central Bank, would be liable.

The U.S. is the biggest contributor to the IMF, kicking in about 17 percent of its budget. A European default could put U.S. taxpayers on the hook for 17 percent of the IMF’s liabilities.

European leaders set a $1.3 trillion goal for an expanded bailout fund. If it failed to recoup its loans, U.S. taxpayers would face a liability of more than $200 billion.

Source

Off by 0.55% and now taking the market lower with it.

He mentioned NVLS, SNDK, GOOG and KLAC, obvious beneficiaries of the coming apocalypse for Jimmy.

http://www.youtube.com/watch?v=MSqd7KEE5O8&feature=youtube_gdata_player

85 year old women sentenced to 2+ years in prison for bringing in illegals.

Full article

+9.8% to $14.83

Aside from hearing about European bank failures, Cramer suggested, while on CNBC, that tomorrow’s jobs report will match ADP’s report of 206,000.

+8.7%. What recession?

Full article

+5.15% rippage.

No. Ticker Inst. Holdr. (% outstanding) Institutional Holder % Change
1 MBI 25.09 FAIRHOLME CAPITAL MANAGEMENT 18.73
2 RF 4.81 FAIRHOLME CAPITAL MANAGEMENT 14.21
3 MS 2.52 FAIRHOLME CAPITAL MANAGEMENT 11.04
4 RRR 11.42 FAIRHOLME CAPITAL MANAGEMENT 10.36
5 AIG 5.34 FAIRHOLME CAPITAL MANAGEMENT 10.27
6 C 0.83 FAIRHOLME CAPITAL MANAGEMENT 8.72
7 GS 1.19 FAIRHOLME CAPITAL MANAGEMENT 7.80
8 FUR 2.87 FAIRHOLME CAPITAL MANAGEMENT 7.74
9 LUK 7.56 FAIRHOLME CAPITAL MANAGEMENT 7.69
10 CIT 9.65 FAIRHOLME CAPITAL MANAGEMENT 7.19
11 JEF 1.73 FAIRHOLME CAPITAL MANAGEMENT 7.07
12 JOE 28.69 FAIRHOLME CAPITAL MANAGEMENT 7.00
13 TAL 4.78 FAIRHOLME CAPITAL MANAGEMENT 5.79
14 GGP 9.06 FAIRHOLME CAPITAL MANAGEMENT 5.17
15 SHLD 15.22 FAIRHOLME CAPITAL MANAGEMENT 5.06
16 STD 0.06 FAIRHOLME CAPITAL MANAGEMENT 4.61
17 SPR 9.31 FAIRHOLME CAPITAL MANAGEMENT 4.33
18 HUM 2.06 FAIRHOLME CAPITAL MANAGEMENT 3.70
19 WCG 8.39 FAIRHOLME CAPITAL MANAGEMENT 3.05

Here were some of the big winners.
No. Ticker % Change
1 ZOLT 43.11
2 AATI 32.26
3 LAVA 30.09
4 CYDE 28.95
5 AMR 24.85
6 GLCH 24.51
7 AVL 24.35
8 JRCC 22.11
9 PGNX 20.86
10 TPCG 20.22
11 PZN 20.19
12 HSOL 20.17
13 GENE 20.00
14 PCX 19.93
15 SRI 19.28
16 ZOOM 18.99
17 EVC 18.94
18 MBI 18.73
19 MBLX 18.55
20 OMER 18.54
21 JASO 18.18
22 SURW 18.09
23 TECUA 18.04
24 FENG 18.04
25 MOC 17.99
26 STVI 17.97
27 SGMO 17.97
28 AEN 17.94
29 FOLD 17.92
30 XFN 17.86
31 JKS 17.83
32 SEH 17.68
33 EEE 17.24
34 ENZ 17.22
35 BID 17.04
36 CPHI 16.88
37 ERII 16.67
38 CSIQ 16.60
39 PNX 16.45
40 LEAP 16.39
41 PDC 16.10
42 ZEP 16.05
43 STRL 15.86
44 INFI 15.82
45 IVAC 15.79
46 TSL 15.77
47 FBNC 15.71
48 SNBC 15.70
49 ANR 15.64
50 AAWW 15.50

The stock was +9% today.

from AA- to A.

“Disastrous trend and the worst has yet to come.”

Full Article

Risk on.

No. Ticker % Change
1 LBJ 14.94
2 EDC 13.19
3 RUSL 13.09
4 YINN 12.24
5 DZK 11.60
6 COWL 11.54
7 TNA 11.28
8 ERX 10.47
9 MATL 10.45
10 UYM 9.64
11 SOXL 9.58
12 XPP 9.52
13 FAS 9.24
14 MWJ 8.85
15 NUGT 8.73
16 BGU 8.23
17 UPRO 8.07
18 DRN 7.94
19 UKK 7.82
20 TYH 7.79
21 TQQQ 7.66
22 UWM 7.38
23 MVV 6.98
24 DIG 6.97
25 CURE 6.87

No. Ticker % Change
1 AMR 53.23
2 ZOLT 22.34
3 MRNA 21.36
4 XFN 17.86
5 CTDC 17.78
6 NOAH 17.33
7 EEE 16.90
8 EVC 15.15
9 ANCI 15.00
10 GGR 14.81
11 AEN 14.46
12 DHRM 14.29
13 DRL 13.92
14 PCX 13.25
15 PSDV 13.22
16 SRI 13.04
17 URZ 12.94
18 JRCC 12.74
19 WHRT 12.39
20 SPMD 11.17
21 ANR 10.89
22 PBTH 10.58
23 QRM 10.26
24 MT 10.25
25 LEAP 10.24
26 IGC 10.01
27 CX 9.95
28 CAVM 9.76
29 URG 9.68
30 MOTR 9.60
31 MGN 9.52
32 ACUR 9.09
33 NEWN 9.06
34 MDR 8.92
35 CPSS 8.89
36 MTW 8.83
37 PLCM 8.73
38 CENX 8.68
39 UXG 8.68
40 MTL 8.68
41 YMI 8.59
42 FRO 8.55
43 MOD 8.55
44 IVAC 8.51
45 ITUB 8.51
46 PGNX 8.45
47 GSL 8.38
48 GSVC 8.34
49 ENER 8.33
50 BBD 8.31