So the markets want to go up, but will remain choppy as we either get a definitive plan or get spun on rumors.Comments »
“ORIGINAL (12:30 PM ET): Markets are shooting higher after headlines indicating that the IMF might be willing to backstop Spain even if the country and EU leaders can’t make a plan to backstop failing bank Bankia.
The Spanish government has struggled to find a way to backstop the country’s third-largest bank and biggest holder of domestic real estate assets.
It recently agreed to bail out the failing bank, after mergers and loans failed to cleanse its balance sheet. The European Central Bank recently rejected a proposal in which the Spanish government would issue €19 billion in domestic government bonds to the troubled lender that it could use as collateral against an ECB loan, according to reports. Spain may also have considered issuing €19 billion in debt to the public to finance the bailout.”Comments »
“Barton Biggs, the storied hedge fund manager who runs Traxis Partners, recently had an interesting encounter recently over lunch with a Saudi businessman who explained to him the real motivations behind Saudi Arabia’s ramp up in oil production and why oil prices will likely continue to fall as a result for an extended period of time.
It’s all part of a plan hatched by the Saudi royal family, according to Biggs, who relays this conversation in a note just published by Itaú BBA. Biggs says he asked the man what his outlook for Saudi Arabia was in the medium and long term, and the man was particularly negative about this, even given the vast riches of Saudi Arabian oil wealth.”Comments »
“When sermons of Obama’s Chicago pastor, Jeremiah Wright, surfaced during the Iowa primaries, it threatened to derail Obama’s campaign. ABC aired one where Wright screamed, “Goddamn America!” Edward Klein interviewed Wright, who told him Obama’s team tried to buy his silence.”
Reuters is reporting that Linkedin and Silverlake are interested. Share shot higher by 20%.Comments »
[youtube://http://www.youtube.com/watch?v=yKMlHzKmCQU 450 300]Comments »
CNBC ‘freaking out’ over decline in ratings for Andrew Ross Sorkin and Maria Bartiromo
‘Their biggest attractions have become their biggest losers,’ says industry insider
Andrew Ross Sorkin is apparently not too big to tank.
The same goes for “Money Honey” Maria Bartiromo.
CNBC insiders tell us executives at the cable business channel are “freaking out” because viewership levels are down essentially across-the-board, particularly with its marquee shows, “Squawk Box” and “Closing Bell.”Comments »
(Reuters) – The wild ride in Apple shares this year could get even more interesting when the company reports quarterly results after the bell on Tuesday.
Judging by trade in the options market, investors expect Apple shares to jump or fall by about 7.5 percent, a much greater swing than the average post-earnings move of about 4.25 percent in the past four quarters.
Read the rest here.Comments »