Archive - Dec 17, 2009

There are many comments surrounding the return of TARP. I think one of the most important points are being missed. Most of these banks swore that they didn't need TARP. Despite this, in order to return it, they must go back out to the capital markets. Why do you have to hit the market to return a loan that you said you didn't need, unless you needed it? This obvious lie has went unchallenged.

The EURUSD 50 DMA of $1.41 is fast approaching, just as Goldman predicted. The dollar is now back to early September levels, as the predicted unwind of the carry trade is among us. Was the European implosion really all that unpredictable? With equities lagging, once the reality of the move is comprehended, look out below in stocks.

RANsquawk 17th December Morning Briefing - Stocks, Bonds, FX etc.

I really wonder what possesses people to believe these sales pitches,
hook, line and sinker... Seriously, what the hell was this guy
thinking???

Earlier this week, I noticed that PSP posted the audio that accompanied the 2009 annual public meeting. I will follow-up on last week's comment by going over the presentation given by PSP's President & CEO, Gordon Fyfe. Listen to the flimsy explanation given as to why PSP does not disclose their private market benchmarks...