Archive - Feb 19, 2009

Technically he said "probably not" kinda like Iraq "probably has" weapons of mass destruction.

Someone quickly find the private jet departure logs from Antigua into Mexico over the past 3 days.

After almost a week of not showering, and snoring in a sleeping bag, one California Republican Senator seems to have cracked and will vote against his conscience, but for going home and a fresh change of clothes.

A comparable relative value analysis evaluating spreads on most liquid loans and bonds for 30 indicative corporate issuers yields interesting results. The average loan yield is currently at Libor +848 while the average bond spread is at Libor + 1435, a 587 bps differential, and a 230 bps widening to the LTM average of 358 bps.

• GSEs' exponentially growing backing: now at $400 billion (Washington Post)
• The end of anonymous Swiss bank accounts: huge political implications (Reuters)
• European banks agree to CDS clearinghouse (Bloomberg)
• Stock rock stars (

• UBS to reveal names of tax cheats as part of DOJ Settlement, presumably more than just current administration officials (Bloomberg)
• Cerberus' Japanese Aozora bank lost money on everything from GMAC to Madoff (Bloomberg)
• Next bail out target: Eastern Europe (FT)
• Another trucker prepares for
  

Larry Gluck and Stellar LLC who had hoped to auction off the Riverton Harlem housing project on Friday, got some more bad news today, when Wells Fargo announced it is seeking foreclosure on the 1,230 unit apartment complex. The auction has now been cancelled until further notice according to Steve Solomon, a spokesman for Gluck.