Man your battle stations. Woodshedder to the cafeteria. The mothership is readying to fire internet laser beams into your bullshit third tier blogs.
Developing…
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Joined Nov 10, 2007
23,423 Blog Posts
Fly,
I just discovered the the next stock exchange (sort of) I should post some lehman… http://www.buymyshitpile.com/
Barry has an excellent article on the Buffett-Copperman deal:
http://bigpicture.typepad.com/
OK, so I’ve listened to 15 minutes of Barney Frank bloviating to Charlie Rose about why we have to buy $700B of bullshit assets at bullshit prices from dickhead lenders who have beshit their own balance sheets. Else, says Barney, Small Businessman won’t be able to finance his inventory, and Working Stiff won’t be able to buy a new pickup.
So, let’s assume Ben and Hen are gonna blow the $700B one way or the other. Why don’t they leave the balance-sheet crappers to drown in their own waste, and use the $700B to capitalize the prudent lenders who didn’t play in the shitpile so that Small and Stiff can go to them for the credit they need?
Yeah! Fuck the entire third-tier!
-DT
This was Sweden’s solution to their crisis in 1992. It worked, and the people won.
http://www.nytimes.com/2008/09/23/business/worldbusiness/23krona.html
Is the plan to get long FCX and AAPL?
God I hope so.
Oh Great, I just started up thirdtierfinanceblog.com all that hard work down the drain! Great timing!
All hands on deck. Fly is dynamite with a laser beam, guaranteed to blow third-tier minds.
Buffett buying Goldman!!! Tomorrow might be a huge day for a rally.
Buffett is investing in Goldman.
motherships can’t detect igloos. good luck america,batten down the hatches……a canuck friend
Just read on a RW site that the calls to Congresscritters are coming in 50-1 against this horsefuckery.
Not a good thing to vote for a month before the elections, methinks.
Barney Frank, just die, fucker. You — almost singlehandedly — caused the death of Fannie Mae.
Actually, I didn’t “invest” in those loafer-wearing fools. My return is guaranteed up front. Goldman is giving me this return in exchange for giving them a hand job in a press release, that’s all. Now they can do a secondary offering or three at “Buffet-enhanced” prices.
I’m ready for battle. What’s cooking in the cafeteria, ‘Shed?
Forward.
March…..
war-gio break out the spam.
lol…and this is why I typically do not go to bed before 1:00 a.m. Eastern….
S&P to 800 by early to mid 09. Long term double top looks pretty. Has anyone noticed that stuttering hank does this weird lizard like tongue shit after he speaks? Gotta laugh at the grilling these guys are getting for trying to get a big ass blank check.
My investment in GS, was in effect a bailout of my friend, The Fly’s, new found bullshitters portfolio.
You may thank me by buying some shares of Berkshire Class A. Class B for those still mired in pikerdom.
Did someone call me old and warshed up yesterday? LMFAOROTF 🙂
Wait until the market prices in the failure of the bailout plan. I’m reading the Congress people are getting calls 50-1 not to pass it. The plan is being laced with pork (student loans, car loans, foreclosure $$) and puts the Ftards in charge of oversight who helped cause the FNMA, FRE fraud in the first place. They should be removed from their committees and investigated. We all know who they are.
wonder what the payoff to Warren is for the investment? 5 bill is chumpr change to him. Getting GS’s stock up isn’t and he’ll be handsomely rewarded.
Buffett is probably one of the single biggest taxpayers out there, in terms of lifetime taxes paid. I bet he doesn’t want to see “his” money pissed away by the lobotomy rejects in Congress.
“Warren buffet gets paid a salary from Berkshire Hathaway of $1.00 per year. His earnings are all from capital gains which are taxed less than employment earnings. All the other CEO’s have an arrangement where a large amount of their earnings are from stock options”
he’s a hypocrite- he should be drawing a commensurate salary to his position and paying income tax on that amount.
Buffet is getting paid double digit interest rates and below market warrants. He probably also has an implicit guarantee from Paulson that they’ll backstop any potential GS failure. Not bad for a guaranteed return.
Of course, idiots buying GS this morning won’t be getting anywhere near the same deal, but that won’t stop the stock from soaring.
I already own some of Warren’s shares – why not do the bailout like Warren just did GS? Get the 10% preferrd stock, etc?
Ignore that tongue action.
Buffet is a great investor. But don’t mistake him for someone who it taking one for the team – taking a hit for the American people.
He shouldn’t be on the inside helping with policy decisions and on the outside profiting from the situation at the same time.
If only there had been this much discussion and outrage prior to the iraq invasion, perhaps we could have prevented that outrageous disaster.
Getting GS’s stock up isn’t and he’ll be handsomely rewarded.
It’s win-win, as long as GS stays over 115, which is not necessarily a done deal, ovah heah.
Note, GS back under $128, right now.
_
Go Funk yourself Funk, getting rid of Saddam Hussein and most of Al Qu’aeda, not to mention forming the first Arab democracy in the Middle East may turn out to have longer term benefits than think.
This financial disaster would’ve happened with or without Iraq– it’s been in the works since the 1998 Asian crisis, if not before. I’m just glad we’ve got one less asshat (and sons) to deal with now that we’re all attendant to this blowup.
Pear trade – Go long GS & SKF … GS should outperform other banks … there aren’t enough shorts to fuel a bank fire no more
Buffett admitted that w/o that bailout, we had financial armageddon upon us .. very interesting
I believe the market will begin pricing in some “not gonna happen” here very shortly.
Outrage and opposition to this pirate bailout is almost universal across both aisles and all constituencies.
I hope Uncle Warren still has his pocketbook open, because that’s the way its supposed to work, anyway.
__
There are lots of short in RIMM, but it is gonna choke post earnings
Comm RE stocks losing their lunch money
its gonna be a long way down for them
Kevin Depew
09:21:32 AM
No positions in stocks mentioned.
Confidence Boost or Confidence Game?
It’s being called an “endorsement” and a “show of confidence” designed to “bolster the market.” No, I’m not talking about Warren Buffett’s deal struck yesterday to shore up the capital base of Goldman Sachs (GS) to “restore confidence”.
I’m talking about Morgan Bank, Chase National Bank and National City Bank’s agreement to pitch in and buy shares of US Steel (X) at below market prices to thwart the share price panic on Wall Street on October 25, 1929. Here’s how that worked out:
https://admin.minyanville.com/assets/FCK_Aug2007/File/Sept082/ussteel.jpg
IBM added to restricted short list …. WOW … what a pathetic attempt to prop up the indices
It will fail … BIGTIME !
Reptilian Overlord:
Sometimes you just have to “go Gorn.”
_
Fil Zucchi
09:00:36 AM
Positions in NYX, SRS
From One Abuse to the Next
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Just now the NYSE (NYX) has added 12 more names to the do not short list, including Big Blue (IBM), Medco (MHS) and 5 Real Estate Investment Trusts. Given that the SEC emergency order covers only specified financial services companies, while delegating to the exchanges the power to identify those “financial” companies, what we are witnessing is yet another example of conflicted abuse by a private entity – the NYSE in this case – which of course gets paid by the companies to trade on that exchange, and will cow to whatever its clients want.
Screaming about naked short selling and bear raids is fine as long as it is an invective against abuses. To allow this type of self-serving behavior by the exchanges merely perpetuates fraud in our markets. Allow me to add my voice to those calling for SEC Chairman Cox’s head and suggest that if his action were not taken under the cloak of government immunity, he’d probably have criminal investigators currently sniffing in his shorts.
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The freeze on short selling of REIT’s is likely to stop new issuance of shares in the UltraShort Real Estate (SRS), something we discussed yesterday.
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The Intrade betting parlors suggest that the government bailout as proposed is far from a done deal. I can’t remember who said this, but rule number 1, 2 and 3 of emergency government intervention – one it is decided that it will happen – is to make damn sure that it will be big enough to achieve the desired effect. I have pontificated in the past that the tire tracks left on the U.S. back by the Great Depression, has made our government culturally incapable to accept the risk of a repeat performance, and the government will resort to currency devaluation and hyper-inflation before it lets full blown deflation take hold. Betting against Treasury intervention in a size that is not likely to “work” ( and by that I mean simply stopping the bleeding, not fixing our problems) does not seem like a good bet from where I sit.
Did some idiot say Warren Buffett was “one of the biggest taxpayers out there?”
Buffett never sold any of his Berkshire stock, so never paid capital gains. He gave away his stock to a charitable trust to avoid paying any estate taxes.