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Excess coke??
Damn, you guys are getting old.
Either that or this empty “ecstasy bowl” is to blame.
“If you Blood throw it up”?
Crip here, yo.
To pudfucker:
re: govt saving the monolines. That’s why the Meredith Whitney note was important. Only 3 banks really get hit (I shorted one of them, UBS). The gist of her note was “fuck ’em, they don’t need to be saved”.
from WSJ:
The heavy concentration of exposure persuaded Ms. Whitney to drop her previous belief that the big insurers are too big to fail. She now sees the problem as one facing a few banks rather than the financial system as a whole and as a result doesn’t think a bailout is viable.
“While we had previously believed the monoline insurers MBI and ABK were too important to fail due to the threat of systemic risk and thus would likely be bailed out, we no longer think systemic risk is even realistic or a bailout of the monolines even viable,” Ms. Whitney wrote
———–
She says $40B in musical chairs to be written off by MER UBS C. C says they’ll own up to $3B. UBS is currently hated for dribbling out ugliness, so I’m guessing they’ll sit down hard, eventually.
The Fly:
Nice call on the market action today. “Wait till 3:30”. Although, I did add to my short position on a few names midday.
Holly shit futures shit the bed!!!!
I wish I still had FXP in addition to my other inverse ETFs… got out at 94