Barney Frank Recommends Only Dealers Trade CDS
Submitted by Tyler Durden on 07/30/2009 - 13:05The Committee on Agriculture set to nuke CDS trading, compliments of GE reincarnator Barney Frank
CNBC Viewership Down 28%
Submitted by Tyler Durden on 07/30/2009 - 12:24
For all who were wondering why CNBC is advertising products treating female pattern baldness, here is your answer.
All The Juicy Bank Bonus Details Compliments Of Cuomo
Submitted by Tyler Durden on 07/30/2009 - 11:37With a title like "The 'Heads I win, Tails you lose' bank bonus culture", what's there not to like about Cuomo's latest. Also, sheds some light on why perpetuating a grossly inflated Ponzi market is where it's at come December.
CNBC Is Now Flagrantly Misrepresenting Reality
Submitted by Tyler Durden on 07/30/2009 - 10:52
As of 10 minutes ago, Larry Kudlow would like you to believe that Q2 earnings are so much better than Q1. That is a flat out lie. The chart below, straight out of Bloomberg which we demand all readers with a BBERG terminal replicate using SPX Index EA <go>, demonstrates that Q2 earnings are now in fact worse than Q1. While in Q1 the YoY EPS drop was -31.49%, as of right now the drop is -32.41%. And the drop in revenues is much worse.
With VIX Failing To Respond, Investors Getting Long Correlations
Submitted by Tyler Durden on 07/30/2009 - 10:37
With the VIX - S&P intraday correlations now broken on a daily basis, investors are now going long equity option implied correlation (factor linking individual member vols to index vols). With the VIX openly gamed, is the ICJ now the relevant indicator for portfolio insurance?
BATS Invites Nasdaq, DirectEdge And CBSX To Withdraw Flash Orders
Submitted by Tyler Durden on 07/30/2009 - 10:25Zero Hedge would like to extend the invitation by Joe Ratterman to other critical Flash markets, such as Dark Pools of "Liquidity" and most specifically, Sigma X.
NYSE Defending SLP, Claiming Will Add More Participants
Submitted by Tyler Durden on 07/30/2009 - 10:09One wonders how open Goldman will be to shedding its SLP monopoly
David Rosenberg On Today's Straight Line Ramp To 1,000
Submitted by Tyler Durden on 07/30/2009 - 09:05"The government has its hands in 40% of the economy and when public sector officials can influence how banks can value their assets, how mortgage servicers should be doing their business, who shall fail in the financial industry and who shall not; and when we have a central bank that is not just the lender but the market of last resort, even for RVs, and a government willing to run up its deficit to levels that would have made FDR blush, then perhaps we can end up seeing a recovery occur sooner than we had thought."
Tim Geithner Good At Creating Staggering Debt Loads, Horrible At Real Estate Reality
Submitted by Tyler Durden on 07/30/2009 - 08:43Tim Geithner understands bubble peak demand and credit bubble pop supply.
Goldman At A Loss On How To Drive Market Higher... Never Fear Chairman Frank Is Here
Submitted by Tyler Durden on 07/30/2009 - 08:19
Need a quick boost to the market? Just clutch at Barney's straw.
Frontrunning: July 30
Submitted by Tyler Durden on 07/30/2009 - 07:52- Jobless claims pick up again, hit 584,000 (Bloomberg)
- Pettis: Brace for a decade of lower Chinese growth (FT)
- Must read: Wall Street analysts keep telling big earnings lie (Bloomberg)
- Goldman Sachs hatred might cost you your bonus (Bloomberg)
- NYSE Euronext swings to loss (WSJ)
Daily Highlights: 7.30.09
Submitted by Tyler Durden on 07/30/2009 - 07:52- Alcatel-Lucent swung to a net profit of €14M ($19.6M) vs. a year-ago loss of €1.1B.
- Ambac Fincl expects Q2 impairment losses on credit derivatives to rise by ~$1.6B to $4.9B.
- BAE Systems swung to 1H loss of $134M; revs jump 28%.
- British American Tobacco H1 profit up 16 pct to 1.45 billion pounds.
- British Sky Broadcasting posts a solid fourth-quarter net profit.
Warning Signs Coming Out Of Brazil
Submitted by Cornelius on 07/30/2009 - 04:00Brazil's top performing hedge fund warns of weakness in the real and potentially higher rates.
Get Your Overpriced First Mortgage Piece Right Here, Or Bank Of America Loves Overpaying For Rent
Submitted by Tyler Durden on 07/29/2009 - 23:51The glory of maintaining your own SPARC-core server headquarters at 65 Montgomery Street (or at least a first lien therein) can be yours for a mere $65 million, compliments of the Houdiniesque commercial real estate folken at Citi Commercial Mortgage Finance.The full mini prospectus can be found here for your enlightenment.
Janet Tavakoli Questions Where The Drama Pundits Were When It Mattered
Submitted by Tyler Durden on 07/29/2009 - 22:39"Hundreds of people from clergymen to lawyers have claimed decorations for bravery that they never earned. Why should finance be any different?"
