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From Hill-ary To Mountain-ary - How UBS Sent Millions To The Clintons After Saving The Bank In 2009

How many more blind eyes can the press (or "we, the people") turn?



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The Real Story Behind Turkey's US-Backed "War On Terror"

To let the media tell it, recent "attacks" - including a suicide bombing that killed 32 people earlier this month - have prompted Turkey to officially join the fight against ISIS. In reality, Ankara's motivations can be explained not by a desire to rid the world of "terrorists", but by considerations of political expediency and by an autocrat's insatiable thirst for power.



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7 'Saves' In 7 Months: A Market Going Nowhere Fast

Can markets be saved an eighth time, a ninth time, a tenth time this year? How about next year?



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Caught On Tape: Angry Mexican Crowd Attacks Uber Drivers

While everyone knows "you don't mess with Texas," it appears technologists worldwide just learned another truism, "you don't disrupt in Mexico." As the following disturbing clip shows, as WFLA reports, an angry crowd attacked Uber drivers and their vehicles with clubs and stones Tuesday outside the Mexico City airport.



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Trade Like A Market Wizard - An Interview With Mark Andrew Ritchie

"...risk management is not another component... it is THE component of trading! Everyone goes broke because their trading size is wrong... Any fool can take a profit. It takes a lot of character, discipline and commitment to take losses and continue going – and that is the only way one can succeed. The lasting trader will always reduce trading size in order to continue trading and come back."



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Did Planned Parenthood Just "Hack" Its Own Website As A Publicity Stunt?

As Sean Davis of the Federalist reports, Planned Parenthood claims on several of its websites that the organization’s web operations have been attacked by "extremists"  but this so-called hacking has all the hallmarks of an orchestrated public relations stunt. A cursory check of the website moments ago shows it stating that "Our normal site is currently undergoing maintenance." What makes this hack unique, however, is that "numerous people on Twitter pointed to evidence suggesting that this so-called hack wasn’t a hack at all."



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"The Virtuous Emerging Market Cycle Is Turning Vicious" Albert Edwards Remembers The 1997 Asian Crisis

Given that some two-thirds of Wall Street traders have never experienced a Fed tightening cycle, SocGen's Albert Edwards is not surprised he gets blank looks when he tries to explain how recent events in commodity and EM markets are in many key (worying) ways similar to the 1997 Asian crisis.



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Former FDIC Head Sheila Bair Resigns From Parent Of World's Largest Subprime Auto Lender

Just days after Blythe Masters took up her role as Chairman of Santander Consumer - the world's largest subprime auto lenders; former FDIC head Sheila Bair has resigned her position on the board of Banco Santander citing excess "travel" as a reason. One cannot help but wonder if the clash of the titans was too much, if the embrassment of a failed stress test was unbearable, or if Ms. Bair sees the rapidly approach light at the end of the tunnel of subprime lending for what it is... a bigger train that 2008's.



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3 Things: B2B, Warnings & Confidence

"The reality is that business and investment spending are the true leading indicators of the economy and the stock market. If you want to know where the stock market is headed, forget about consumer spending and retail sales figures. Look to business spending, price inflation, interest rates, and productivity gains." The Skousen index suggests that the current economy is significantly weaker than headline statistics state.



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An Angry Paul Volcker Responds To Accusations He Caused The Bond Liquidity Crunch

Paraphrasing Jean-Claude Juncker, "when it gets serious, you have to lie (or deny)" and sure enough in just 30 seconds, the vehement anger Volcker shows in the following clip when 'accused' of creating illiquidity in markets due to his rule suggests the former Fed head is more than a little 'fed' up... and he should be, as we have pointed out previously - while Fink et al. are happy to blame his rule, it is HFT and Central Bank distortions that have created the illiquid disaster that so many call 'markets' today.



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Weak 7 Year Auction Tails 0.8 bps After Foreign Central Bank Buyers Balk

With a When Issued trading at 2.013%, traders were looking for a high yield to print well inside of that. Instead they got a nearly 1 basis point, or 0.8 bps to be price tail, to 2.021%, even though the Bid to Cover was nominally above last month's 2.384, printing at 2.468. The reason for this almost certainly was the steep drop in the Indirect take down, which dipped from 56.64% in June to just 49.15%, which was the lowest foreign central bank demand since October. And with Directs relatively unchanged, at 12.01%, it mean that Dealers had to step up and take 38.8% of the issue, the most since September of 2014.



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New York Mayor de Blasio Demands A Federal Bailout For Puerto Rico

While the Puerto Rican creditors' bargaining power on the island is to put it mildly, negligible, especially after the budget director made the imminent default into a crusade of poor versus rich, saying he won’t redirect cash from its operating budget to make debt payments, an unexpected supporter has emerged thousands of miles from the beleaguered island: New York's socialist mayor Bill DeBlasio. As CBS reports "New York City Mayor Bill de Blasio demanded President Obama and Congress immediately come to the island's fiscal rescue." "It's the federal government's obligation to act, because they can't stand idly by and watch Puerto Rico fail," de Blasio told a crowd of hundreds of Puerto Rico boosters gathered on the steps of City Hall.



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Deja Deja Deja Vu All Over Again

BTFD Stupid...



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The Coming Credibility Hammer

Credibility matters, it will matter even more in the near future when there seems none to be had from those who may have lost – or sold theirs.



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