iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,152 Blog Posts

No Bailout for MBI/ABK?

Some believe the muni insurance portion of both [[MBI]] and [[ABK]] will be rescued. However, the mortgage part is doomed for a hot bowl of lava soup.

We all know Moody’s and S&P are aiding and abetting fraud, by keeping these worthless fools triple A rated. It’s the most obvious in your face scam ever, yet it gets no airplay.

Odd, no?

My guess, there is no plausible solution for the monolines, with the exception of failure. With that being said, it makes sense to sell short the banks, waiting for the crescendo sell off.

Top shorts picks: [[C]], [[BAC]] and [[WM]] or long [[SKF]] If you enjoy the content at iBankCoin, please follow us on Twitter

11 comments

  1. Big Mike

    Everybody knew about the downfall of financials…
    Duh! Nice call on SMN, asshole. Commodities hitting all time highs, maybe possibly a bubble and this asswipe is shorting it.

    Cheers!

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  2. Prospectus

    MBI/ABK short scares me. Because their credit ratings are so important to the balance sheets of basically everyone, they are likely to be propped up in some fashion by our stupid government.

    Should they announce some kind of bailout / re-org, the shorts will die 5 times over. Not worth the risk / reward, IMO.

    Now the rest of the banks and financials shall dine in Hell.

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  3. The Fly

    Big Mike:

    Your Mother is a goat milker.

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  4. Juice

    http://youtube.com/watch?v=dE-LDfroa1w

    wall st meltdown

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  5. Big Mike

    Anybody thinking about covering their shorts as we are near the lows again? Majority of analysts are predicting for us to be in a trading range for quite a while. Possibly aggravating both bulls and bears.

    I am thinking about selling my SMN with a LOSS, SKF with a gain, while still hanging on to my short at LEH, EEV, and DECK.

    On SMN, come on, Jim Crammer was telling to sell Aggs, you know that had to be bullish.

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  6. The Fly

    Mike:

    WTF?!

    You have all of my positions. I will track you down and have your mustache punched off for this affront.

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  7. ByeByeBankies

    Big Mike:

    Sounds like you’re coming up with a lot of your own ideas. Well done.

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  8. JakeGint

    His name is “Big Mike,” not “Big Idea Mike.”

    That’s Donny Deutschebag.

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  9. 10Bagger

    >Donny Deutschebag

    thanks Jake for that. I can’t stand that guy and NOW I have something to yell at the television as I pass over his stupid show.

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  10. bulliSHIT

    Big Mike: compare SMN to DXD. highly correlated. it’s a near-term trading anomoly that will get corrected. this is the time to buy SMN.

    i sold all my financial related short positions today, as the risk of a massive bailout is too dangerous. if a private equity investment is announced, i guarantee it will only be for the muni business, but the banks will provide credit lines and possible equity to the non-muni business — it’s in their best interest.

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  11. Big Mike

    Fly,

    Don’t have a mustache, had to sell it after a horrendous loss on SMN. Although I’ll let you go for life after a good call on Deck…

    All kidding aside, are you seriously trying to SHORT tech now? Nasdaq already hit that tradeable low and bounced, while all technicals shows crazy oversold signals.

    I will be a scout boy, and take the opposite side of this trade from the “Almighty” Fly.

    I call your bluff bitch…Pair of deuces…Read’em and weep…Shiiiipppp it!!!

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