Housing Tunes: ACME Cheap Credit Vs. Wile E Housing Bubble
Submitted by Tyler Durden on 07/13/2009 - 04:22Nick Gogerty of Designing Better Futures has come up with another of his highly entertaining and educational videos, this time focusing on a longitudinal comparison of housing prices by geographic area compared to household income.
Merrill Gruntled, Believes Markets Combobulated
Submitted by Tyler Durden on 07/12/2009 - 10:31Main Entry: dis·grun·tled; Pronunciation: \dis-'gr?n-t l\; Date: 1682
Adjective: displeased and discontented; sulky; peevish.
Main Entry: dis·com·bob·u·lated; Pronunciation: \.dis-k?m-'ba-b(y)?-.lat\; Date: 1916
Adjective: To throw into a state of confusion.
RateLab Issue July 7, 2009
The Aleynikov Code Dump Uncovered
Submitted by Tyler Durden on 07/12/2009 - 06:05Sergey Aleynikov's code dump page has been uncovered, courtesy of the Sergey Aleynikov Fan Club on Facebook. The site can be found here. Intrepid hackers, nascent program traders, Goldman lawyers and DHS lackies should be all over this. As Zero Hedge will be out of pocket for the next few hours, it might make sense for a reader to create a mirror of the content as I have a sinking suspicion this Google page will be taken down faster than Tila Tequila's modesty.The Google Code linked wiki page is already respondiong with a 502 Server Error and it is odd that this page has not also been removed.
JP Morgan: "High Frequency Predator Traders Feast Upon The Signals Of Others"
Submitted by Tyler Durden on 07/12/2009 - 05:32Continuing the Program Trading reading series, some insight from none other than Carl Carrie, global head of algorithmic products at JP Morgan.
Radio Zero: Brain Parasites, Your Progressive Ambient and Progressive House Support Group
Submitted by Marla Singer on 07/11/2009 - 19:29Back for more? Excellent. We've got six hours of gray matter gnawing sonics just waiting for food.
A brief delay. We begin at 8:45 eastern, sharp. Get your slot now!
http://s9.viastreaming.net:7200/listen.pls
Requests / Chat up the DJ: AIM: radiozh
Oh, owing to demand, we upped it to 50 slots. More room for more space monkeys.
Deep Thoughts From Howard Marks
Submitted by Tyler Durden on 07/11/2009 - 16:46Third "must read" in a row. Now if only Howard could practice just as phenomenally as he preaches...
Predators Sensing Your Orders: Trading “Battlebots” Earn Est. $15-25 Billion Annually
Submitted by Tyler Durden on 07/11/2009 - 16:08Must read presentation on electronic trading in this PT-focused Saturday.
Liquidity Quality In A Changing Market
Submitted by Tyler Durden on 07/11/2009 - 15:33
My focus on various topics in the realm of program trading and market liquidity has engendered quite a few vitriolic responses, some of which have argued bitterly that Zero Hedge is on the wrong path in describing the somewhat vampiric qualities of liquidity extraction by recent artificial constructs, most notably those undertaken by the NYSE. I present to our readers an original paper by two BNY ConvergEx managing directors from 2007 which should provide some additional datapoints in the great debate on whether or not liquidity benefits at all from the recent domination of computers in the "open" market, and touches on other such highly contested issues as dark pool and dark liquidity value and execution.
The Federal Reserve Under Increasing Fire
Submitted by Tyler Durden on 07/11/2009 - 13:39A must watch introductory clip by the American News Project which summarizes well the current push to unmask the inner workings of the Federal Reserve, the urgency of increasing transparency and the groundbreaking nature of Ron Paul's HR 1207 bill.
CIT Prepares To File Bankruptcy
Submitted by Tyler Durden on 07/11/2009 - 13:15The WSJ reporting that the lender to over 1 million small sized businesses has hired Skadden Arps in preparation of a bankruptcy filing. The formerly largest competitor to GE Capital for any and every semi- and fully-toxic loan imaginable, has been so far outright denied a bailout by an administration that has rarely professed a non-socialist approach to corporate demise. Unfortunately for the company, whose new HQ office lobby on 42nd street looks more like a club out of meatpacking flashing either a blue or deep purple colored decor, may be Obama's first Guinea pig in financial failure since Lehman.
Rating Agencies Finally Get The NRUC Wake Up Call
Submitted by Tyler Durden on 07/11/2009 - 10:57When Zero Hedge first discussed the plethora of problems at National Rural Utilities Cooperative Finance Corporation (aka NRUC) over 4 months ago, two things happened very quickly: the company's CDS blew up from 100 bps to over 250 bps overnight, and the company promptly issued a derogatory press release ridiculing everyone and everything associated with Zero Hedge (they were the first but certainly not the last). Immediately thereafter, likely under the advice of counsel, NRUC promptly retracted the press release but not before The Business Insider managed to keep a record for posterity.
In retrospect this may have been a smart move after Fitch just put the company on downgrade review for very much the same reasons I was concerned about in March.
Guest Post: China Panic
Submitted by Tyler Durden on 07/11/2009 - 06:44Looks like Marla made her way to the Paper Street stamina bar last night... Must have been quite a show. For those who never went to bed, here are some early morning observations compliments of Black Swan Capital.
Radio Zero: Tired of Goldman
Submitted by Marla Singer on 07/10/2009 - 19:20Goldman was without a doubt the story of the week. None of those guys can dance anyhow. Here, I'll prove it.
Radio Zero. Again. Live starting at 9pm eastern. Get your slots now.
Requests: AIM - marla@zerohedge.com
Whitney Tilson: "Why There Is More Pain To Come"
Submitted by Tyler Durden on 07/10/2009 - 14:49An Overview Of The Housing Crisis And Why There Is More Pain To Come
Ben Bernanke Back Into The Populist Spotlight
Submitted by Tyler Durden on 07/10/2009 - 14:41It seems just yesterday that Ben Bernanke was rehearsing for the role of the Alzheimer's patient antagonist in Joel Schumacher's latest mad scientist-becomes-insane global dictator B-grade movie, before the House Committee on Oversight and Government Reform, after firing back with a catatonic "I don't recall" after catatonic "I don't recall" when asked to remember even one of the events in what historians will likely one day consider among the most critical 24 hours for modern capitalism. Many thought that this spectacle was merely a way for politicians to score populist points in a McCarthesque witch hunt sequel of the villain de jour play. It seems they were wrong.
