What the fucking is going on?
How can our government officials be so stupid? Or, are they complicit?
Ken Lewis, CEO of BAC, has been spending money like a dog in a bone shop on acquisitions, and other stupid shit. But now he needs a bailout? Even worse, our government gives it to him like it’s no big deal.
Here you go Ken. Do us a favor and try to keep the bonuses under $10 billion in ’09, ok?
Thanks. This is one fuck of a great country to live in, providing you are into fleecing and other degenerate activities.
As you know, “The Fly” has only 10% of his money invested, at the present. It’s really nothing, with longs and shorts offsetting each other. Hell, I could do whatever the fuck I want and not worry about my face being ripped off.
I am a free man.
That’s right, I am free to throw hot tea out my office window, on the revelers below. Or, I can take long naps or watch non-financial television.
For the love of large vats of acid, I could go on vacation!
Life without the stock market has been fantastic, thus far.
As for the markets:
I think oil can bounce a little here, with t-bills selling off and the dollar getting raped. If I am so inclined, I may nibble on some UCO or DXO. However, do not misconstrue my bullish position on $35 crude for full fledged lunatic bullishness on oil stocks. Again, their businesses are impaired. They will, eventually, go much, much lower.
Today, I expect the market to bounce, led by short squeezes in banks and possibly oils. If I were an investor or had millions of dollars in equities, I would NOT be a buyer of stocks, ahead of Obama’s inauguration.
Instead of fucking around with stocks, go eat a meatball hero, with mozarella and a little marinara sauce.
Top pick: cash
Off to take a nap. Wish me luck!
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Naps are good investments…no matter your time horizon…
Since Citi is breaking its business up into 2 parts, one for the good assets and one for the bad assets, my suggestion for the name of the newly formed wing to hold the bad assets:
Citidump
Suggestion: Get a condo in South Florida-maybe in Century Village. Wear white shoes with black socks (and walking shorts), a white belt, and get down with the daily bingo games. You will clean up.
Extra bonus- The early bird specials across the street is an excellent value as are the Don Rickels shows on Sat. nights.
be well fly.
——-
and they give FORD and GM HELL IN PUBLIC HEARINGS FOR MUCH LESS $$$
WTF is going on
—
Can we toast the roll a little? I like the roll toasted on my meatball hero.
Retirement has been good to The Fly.
The FLy is the God of Retirement Investing.
toast the roll. go for it!
Robert Marcin
Foolish
1/16/2009 9:15 AM EST
Ken Lewis is a moron and the taxpayers are now paying the bill for his stupidity. I don’t get it. The man makes a big bad play for king of the hill, gets it awfully wrong, and now the taxpayers have to save his butt. No wonder the man on the street loathes the Street.
How many bailout rallies have there been starting with Bear Stearns? How many times did talking heads froth at the mouth regarding how profound each save was? Where did the stock market go despite em?
Who is more foolish?
time horizon for rebound in crude oil?
The correct term is meatball grinder.
meatball hero sounds kind of gasparino-like.
Juice
He may have been an idiot, but the cost to the taxpayer would have been about he same whether he bought the heard or not. Don’t get me wrong Ken’s a fucking idiot to be paying so much, however the Feds would not have let Merrills go, so the cost would be the same. the only people fucked as a result of Ken’s actions are the poor suffering BAC shareholders.
1 week oil hold. not stocks. just commodity.
Apparently our government will do what ever it takes… Nevertheless, How can we just keep printing and giving to banks ?
This is a joke… Actually I am in the works on writing an editorial in the NYT on how the mortgage banks are full of shit and arent helping with any sort of principle write downs to help homeowners and the “hope for homeowners” program is the biggest crock of shit ever presented to the people.
This is unethical and needs to be publicized…
Malaka- Better get that editorial printed fast before the NYT goes belly up, unless it gets TARP $$.
The ultimate irony.
ok. I am too tempted to short stocks now, as things start to roll over. However, in my head, this is not the way today’s trade will eventually play out.
I will hold off on my crude purchase and go take a nap, in order to prevent myself from doing something dumb.
See you fuckers later.
Shessh ….I just bought DXO after reading your post. Oh well.
PPT for DXO please
man, they can’t sell JPM fast enough this morning.
DXO or UCO should be fine.
Give it 1 week.
NO surprise on BAC
Jesuit bank – politicians are not making mistakes, they are doing as they are told.
Any bitching on this issue will be construed as cognitive dissonance.
‘Instead of fucking around with stocks, go eat a meatball hero, with mozarella and a little marinara sauce.’
Not a bad idea for lunch…
Just a market cycle…Dont get DevilDogged…
short SKF cause banking stocks are oversold. nothing to see here folks, just the obama bounce.
What is the temperature where you guys and gals are today?
15 degrees here in NC. at the present.
Hit the gym Dad, I am so embarrassed to have a sniveling pencil neck for a father.
Fly,
Take the kids to Disney and escape the cold for a week or two…a well deserved break is always good for the head peace…just do not fly U.S. airways ….lol…with all due respect that pilot was a god…..
Don’t take me to Disney. Cabo Wabo for me.
Nobody knows how to make a meatball hero around here. Tried a Philly cheesesteak here once and they didn’t know what cheese whiz was.
Don’t go to Disney today. It’s only going up to 60 degrees in Cen. Fl.
When will they march Thain, Lewis, Pandit and the wrecking crew up to Capital Hill like they did to AIG execs. and Fuld?
Looking for a high in the mid 70s today – on the downside, it might be November before we see any rain again.
Fly’s video picked up by Ritholtz:
http://www.ritholtz.com/blog/2009/01/the-fly-show-asshat-of-the-year-2008/
I suggested mid December that Sr Fly and his wife go on a Caribbean cruise over the holidays. Sometimes we need a break from our reality and ‘play in another reality’ for a while. It gives us a fresh and new perspective on life when we get back.
Fly jr…..the kiddies are not allowed! You get to stay with the fat old babysitter from Poland.
.
Just based on principle I am going to withdraw all of money and close all of my accounts with BAC.
Their horrible anyway charging me insufficient funds fees for $35 when I have 6 digits in my account. Yes $35 dollars and they mail you a nifty little card saying it. I hooped into my modest vehicle labeled with a peace sign on the hood, went into the branch by my home in nassau county LI.
I am friendly with the branch manager for obvious reasons and when I showed him the card he laughed .
Ahhh…so the Fly is a human after all…he does sleep!
Anybody want to bet $100 bucks, JPMorgan will eventually ask for more money too? I mean, why the fuck not?
Prediction: Fly jumps into the market after 12 noon.
This of course after him going to the local Costco and dining at the food court and tasting Free Samples with all the other people on fixed incomes.
Anybody ever had the Slice or Foot long at The Costco?
More reasons to stay short?
http://www.youtube.com/watch?v=b6z80LtgsEU&feature=related
mrkcbill Says:
Prediction: Fly jumps into the market after 12 noon.
This of course after him going to the local Costco and dining at the food court and tasting Free Samples with all the other people on fixed incomes.
Anybody ever had the Slice or Foot long at The Costco?
J
*****************************************
Who said “there’s no such thing as a free lunch?
Next The Fly will tell us he is going to don a bowtie and ride around the world in his dynamite, razorblade and diamond encrusted plutonium powered time machine with his family.
Today 10:11am
US Administration preparing to push proposals to allow offshore drilling in certain sites previously restricted – WSJ- proposing 31 oil and gas leases in 12 different offshore regions.
What’s wrong with V (Visa)?
Big Mike…is there any particular reason you use all caps now in your name? Are you taking your cue from DEVILDOG?
I wish you’d pick a case and stick with it. Thanks.
Controller –
JPM indicated their credit card transaction volume was down in the prior quarter and year. They are likely facing similar challenges at Visa.
Is Wells Fargo next to ask for money to digest Wachovia? Or did the fed already back the purchase?
Punyandy, thanks.
Lady G – will you please remove your sausage lips from my dad’s cinnamon stick. The slurping sound is getting tiresome.
truth be told, the market really looks like shit. It has no strength at all.
V and MA getting the shit kicked out of them.
speculation on the velocity of e-money slowing.
honestly lady g. from tennis magazine as afternoon reading to couples therapy. may the Lord help you.
If i may be so bold, i dont see a ST rally in stocks and i dont see a ST rally in oil, i too covered at s&p825 and waited for the govbailoutrally#10 but guess what this trade is becoming all too known my friends. Sorry fly no nap for me, ive still got shit on my dick and im slowly going to stick it in again today, this time with no lube no stops no hedges
Shit, with all your free time, how about a nice “Important Matter” post?
-DT
oilyguy Says:
Today 10:11am
US Administration preparing to push proposals to allow offshore drilling in certain sites previously restricted – WSJ- proposing 31 oil and gas leases in 12 different offshore regions.
************************************************
Attaboy, Bush. You shit all over our country for eight years – now go shit in our water.
Added to my COF shorts at 25. The bitch goes to 20. Especially after congress passes this law that limits the credit cards issuers power to change terms. Strong support for the bill in congress. Should pass and go into effect soon. The bills says 90 days from passage
BAC getting raped again and rightfully so.
FAZ to 1000
This tape looks weak. Energy, utilities, staples holding it up. MSFT, XOM, MCD holding up the DOW
Honestly guys…can you not follow discussions from one thread to another? Fly is the one who mentioned retiring to a Caribbean island and many GUYS on this post made comments about how he should go there. I merely reminded him I thought going to a Caribbean island was a good idea a month ago. GET A LIFE…you guys are truly bored when you just pick on the only lady on the blog. (no offense to boca shes not here)
As far as tennis magazines go, catching up on whats happening in tennis is my ‘ free time, stress relief’ hour of the week….at least I have a life outside of sitting at the computer all day. I have to listen to all you guys post blogs about your favorite football teams all day.
Fly jr the correct name for that is MAGGOT
Retirement – time for a book.
http://www.jamescooper.org.uk/YouAreTheFly(ImprovedFull)Front2copy.jpg
“Especially after congress passes this law that limits the credit cards issuers power to change terms. Strong support for the bill in congress. Should pass and go into effect soon. The bills says 90 days from passage”
T Moe As they say, the the little pigs get fed, the big pigs get slaughtered. Financial institutions have had many laws changed in their favor; now it looks like it’s heading to the other extreme. Extremes don’t work forever, in the meantime, Short those pigs.
Fuck retirement. Hike up your Hagar Sans-a-Belt trousers, put your teeth in, and get your ass into the funcking Octagon, right now!
But I’m sure you’ll be back.
http://i31.photobucket.com/albums/c374/zombietony/Return-Of-Fly_BWsmaller.jpg
FAZ has indeed had a major swing today……..
I’m on board with Malaka.
Ken Lewis destroyed one of the best banks in America with his retarded acquisitions, but he’s still employed drawing a huge fucking salary even though the taxpayer has to bail out his stupid decisions.
Fuck that. I plan on closing my BAC account out of principle.
more people should close out their BAC accounts across the country and support their local small banks anyway……if someone could get a “close out you BAC account now” campaign going, it would send a message to Ken Lewis and his cronies that we the people are not going to stand for this shit.
by the way I see Larry Krudlow is still alive, bummer.
“close out “YOUR” BAC account now”, sorry for the typo.
Circuit City to liquidate. Maybe I may be able to get another flat screen on the cheap
buy order in for BAC at $7.36
My shiny new metal detector keeps beeping over this spot
Hope it’s not another rusty can…
not as good as 150 mph
oh look, another clam.
Ken Lewis should be horsewhipped … It wasn’t just a mistake, it was Fucking Stupid! Here’s a fucktard that sees the ponzi scheme unravel right in front of his eyes, yet he still purchases Merrill at a 100% premium over the bid. What the fuck is a matter with this man?
TMOE – flatscreens are bad for the environment…
Don’t you know there’s a global warming crisis going on?
DMG-
I warned you Dip Buyers yesterday to buy FAS instead of the individual banks.
Ass Napkin Mike- If you are out there send Fly your E-mail address and he will send out mine to you.
Thanks Fly.
Donny Says:
Ken Lewis should be horsewhipped … It wasn’t just a mistake, it was Fucking Stupid! Here’s a fucktard that sees the ponzi scheme unravel right in front of his eyes, yet he still purchases Merrill at a 100% premium over the bid. What the fuck is a matter with this man?
January 16th, 2009 at 11:31 am
________________
It’s simple, it is easy to do when it is not your money on the line……bailout nation was already on the table, Ken knew he could get away with it and he wanted to help out his buddy Thain so Thain wouldn’t look bad when he would have had to otherwise file for bankruptcy for MER.
Lady G spotted after reading her tennis magazine:
http://bendersbetterbrother.files.wordpress.com/2007/07/fat-tennis-player.jpg
Dull day. Watching The Longest Day (John Wayne D-Day movie) on AMC. A classic.
Ken Lewis is a fool for sure, but Thain is one smart criminal. He played the ultimate game of poker with Lewis and tore his face off. $29 for Merrill. Ha HA HA!
What an ass whiping
Larry Krudlow says “We appreciate the arguments, lets not get personal”
_____
The absolute single problem with CNBC………..no one gets personal……
_____
CNBC has turned into a circus show.
Fly Jr., go outside and play with your guns and knives ….and your favorite – the hand grenade.
Oh Senor Fly, time to wake up from your nap, they are breaking out the red ink on Wall St.
Should we start a betting pool for how long before Ken Lewis gets fired ? I say end of March latest.
BAC WFC JPM DB HBC C all Fuct.
he wont wake up….hes enjoying spooning DD
its the delivery lady g, not the content.
CAP-
Ken Lewis will be gone before this time next week!
BTW, you’re fucking disgusting!
http://en.wikipedia.org/wiki/Autofellatio
Fly – while I envy you the unbearable lightness of being position-free in this market, I hardly see you spending your days playing shuffleboard…
We are God’s unloved children, the ultimate crackheads, the people who will gladly pay to play – you will be back…
Long: DXO, DAG, TBT
Short: DDog and Lady G
Stop picking on LadyG. She has more class than all you put together.
I didn’t sell FAZ – it only requires a little to be entertaining – it is pure stuff – non diluted.
If I were to guess who was in Fly’s video (if it were not the Fly), then I would probably pick this dude:
http://www.imdb.com/media/rm812617984/nm0378217
VIX is down, S&P is down
For the last time, that guy in the video was not the FLY. This is the real FLY from a picture taken a month back.
And POOF the rally is gone
WTF would Fly be doin in Philly? Huh? Can you answer that? I thought it was a nice touch to have the lighter fail so that anticipation of seeing his face was thwarted. Of course, Cigar Dave says no liquid lighter fluid with ceeeegars – spoils the flavor.
Fly, I’ll be at Goldeneye in Oracabessa, Jamaica next week. Would you like me to reserve Ian Fleming’s villa for you?
Who wants to bet that The FLY awoke from his nap, saw the market rolling over and could not help himself and had to jump in short or some iETF’s
agreed that lady g has a good heart, and is a classy g.
CAP the Cocksucker
I have a HUGE short position on LadyG
Ban Lady G from Posting please
Glutton for punishment
BAC Limit 7.36 — — 12:09:04 01/16/09
DMG, hows that metal detector working for you?
Lady G,
I’m also a lady, albeit a quiet one. I’m sure there are more of us out there.
I’m a lady also, but don’t tell Eddie Haskell. He thinks I am a transvestite.
Anon –
‘Made in China’ – go figure
JPM is taking it on the dome piece right now.
DMG Says:
Anon –
‘Made in China’ – go figure
January 16th, 2009 at 12:33 pm
___________
might better look closer, it might say “made in Czechoslovakia”
I will say this once more and then shut up.
Buy SWHC here and now @ 2.46
and sell between $3-$4 soon.
Off to the hospital for the birth of ottnottlett #3. Wish me luck.
No joke.
I wish you the best Ottnott……
That’s awesome Ott, good luck!
First! Every American will get a Smith and Wesson handgun.
SWHC BUY 2.47
It’s kind of a Costanza trade.
Mazal tov, ott!
BHO justed used Spain as an example of creating jobs. Last I checked they had one of the highest unemployment rates in Europe. About 9.5%
Thats cool ott. I’m waiting for a call that my sister has delivered. scheduled C sec but
today is the day @ noon EST
The market seemed to love that Obama speech.
Good news Mr. and Mrs. Ottnott – hope all goes well and please update us later whether the lil tyke is a girl or boy. (I love babies.)
I haven’t got the heart to trade on op-ex Friday, think I’ll go to South Florida on vacation, oh wait, I’m already here, mmm yeah.
Henry Fool, at $2.47 that’s like a permanent call option on my friends Smith and Wesson. Congrats to your sister.
Dollar is doomed
Oh well I bought
ONXX
TNA
LOPE
DXO
holding AFAM, AIPC, SWHC, DVAX (lotto ticket)
Shorted some MOS at 35.90
BAC bought at $7.04
I’ve found about 22 Schaefer cans
and a bucket of clams
and thousands of sand crabs
Ottnott, good luck and all the best. At the same time go fuck yourself. It just makes me feel good telling people that.
I’m buying stocks with Fly’s money while he’s throwing things at his trader servant.
Watch for more nervous shorts to cover before close. Only the diehard shorts will want to remain short over the long weekend and into the BHO inauguration.
Good luck.
Still holding NOV TSCO
Ottnott,
Best of luck with the new Ott-tot.
BTW, “Anton” is a strong and distinctive name.
Fly Ottnot also sounds catchy.
Ott-tot, good one Anton 🙂
Feels like an end-of-day sell-off is coming.
3 day weekend, Inauguration, “buy the rumor, sell the news”.
SELL SELL SELL!
Ottnott, Good luck. I’m sure you’ll have better luck with the ottnottlet, than I’m having with this market.
Anyone notice that ALL the freaking refiners are BTFO’ing in an egregious manner.
Guess who owns ALL the refiners in an egregious way?
(Contemplating name change to “Smiling Jack.” Developing…)
___________
Ottnot! Many congrats!
Remember, no odd numbers, you’ll have to go for four now.
_______
The market looks like a food fight.
@Atlas’s Bubble Dollar is doomed
Well of course it is, but that doesn’t mean it isn’t going to go up.
Think of it as one of those Mutually Assured Destruction plays where the USD takes out Wall Street before it crashes and takes out Main Street.
The US Peso, esta un hombre malo.