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
19,909 Blog Posts

The Next Shoe is a Boot

Minyanville has been all over the failed Muni auctions, over the last week. Last week, I outlined how [[ADCT]] fucked itself reaching for yield.

To sum it up, the auction rate market is seizing up. Just today, [[UBS]] said they will no longer support failed auctions. In my opinion, the failure of these securities is due to the lack of liquidity at banks. If these fuckers can’t support the Port Authority of NY/NJ, how are they going to lend money to subprime fuckers wanting a McMansion.

Eggsactly [sic].

This mess has just begun. Look for it to grab the headlines, shortly.

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12 comments

  1. Gunship Ben

    Loading up the gunship as I type. After all, everyone loves a surprise 50 bps cut.

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  2. Juice

    Its all over the newz [sic] … Its priced in

    No, its not priced in, but the interlude rally is not done, yet. More upside next week. How much is left, I’m not sure, but probably more than would seem possible today.

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  3. The Fly

    liar!

    Did Ducati just quit?

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  4. Juice

    Education stocks getting kicked in the teeth today

    ESI APOL CECO DV COCO

    I think STRA plays ketchup next week

    short it

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  5. Juice

    Wow. he is one hyper sensitive Kiwi !

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  6. Woodshedder

    Juice, I have had a hard time getting shares of stra.

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  7. globalx

    The $ 600+ Trillion in Global Derivatives remains in the very early innings of the “Unwinding” process.

    And yes, “It has only just begun & you ain’t seen nothin’ yet.”

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  8. Juice

    thats odd Shed .. I have no prob at Ameritrade

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  9. calvino

    Paco Taco, love them fucking burritos.. good call. delicious.

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  10. Dinosaur Trader

    You stole that link from my site, admit it. You don’t read Bloomberg, it’s probably too “left-leaning” for you.

    -DT

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  11. The Fly

    DT:

    So sorry. I do not read third tier blogs. The only time i would read your blog would be prior to burning it down.

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  12. cajun

    lol @ title

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