Archive - Apr 28, 2009
Washington Mutual Sues JPMorgan To Recover $4 Billion In Deposits
Submitted by Tyler Durden on 04/28/2009 14:43 -0500WaMu has had enough and has filed a suit against JPM, trying to recover its $4 billion in deposits. WaMu, claims the money is being held by its former subsidiary, Washington Mutual Bank, which JPMorgan bought for $1.9 billion last year (not a bad deal if we may say so ourselves: you buy $1 for less than 50 cents on the dollar, with the FDIC guaranteeing any potential losses on the transaction). Seattle-based Washington Mutual has been trying to recover the money since filing for bankruptcy in September.
In Anticipation Of DDR's Equity Raise
Submitted by Tyler Durden on 04/28/2009 13:58 -0500Deverloper Diversified Realty Corp.
In Anticipation Of DDR's Equity Raise
Submitted by Tyler Durden on 04/28/2009 13:58 -0500Deverloper Diversified Realty Corp.
Bizarro Market: Any Day Edition
Submitted by Tyler Durden on 04/28/2009 13:03 -0500Advancer/Decliner market breadth on the NYSE 1:3. Market flat. Our of curiosity, anyone getting phone calls today demanding wholesale inflation (oh, and those 50 UA shares borrowed back)? Actually, this is merely meant for rhetorical musings.
S&P 500:
NYSE Up vol:
Sam Zell: "Very Few CRE Financings In 2003-2007 Are Above Water"
Submitted by Tyler Durden on 04/28/2009 12:09 -0500Following up on the theme Zero Hedge discussed that the vast majority of commercial real estate backed loans have negative equity, real estate tycoon Sam Zell yesterday, in a presentation to the Milken Institute, said that "you have a scenario today where you have very few '03 to '07 financings that are above water.
Frontrunning: April 28
Submitted by Tyler Durden on 04/28/2009 11:36 -0500- AIG's Joseph Cassano is finally in the regulators' cross hairs (CBS News)
Quick look at lowered FX volatility in the face of dramatic news announcements
Submitted by Tyler Durden on 04/28/2009 06:15 -0500Over the past few months, we've been seeing decreased volatility in USD and JPY despite a slew of body blows coming out on the news calendar. From broad based indicators (ups and downs of second derivs of major demand indicators) to specific items that do not seem restricted to the "unlikely to repeat" pile going forward (anything FOMC related) we have to wonder if the pressure is building.
Quick look at lowered FX volatility in the face of dramatic news announcements
Submitted by Tyler Durden on 04/28/2009 06:15 -0500Over the past few months, we've been seeing decreased volatility in USD and JPY despite a slew of body blows coming out on the news calendar. From broad based indicators (ups and downs of second derivs of major demand indicators) to specific items that do not seem restricted to the "unlikely to repeat" pile going forward (anything FOMC related) we have to wonder if the pressure is building.
Fed To Tell BofA, Citi To Raise Billions More In Capital
Submitted by Tyler Durden on 04/28/2009 03:50 -0500WSJ has yet another leaked version of the stress test results. In summary, both Bank of America and Citi will be urged to raise up to billions more in capital. As this is likely yet another form of PR manipulation, ZH will not comment on this topic until more data is available.
Fed To Tell BofA, Citi To Raise Billions More In Capital
Submitted by Tyler Durden on 04/28/2009 03:50 -0500WSJ has yet another leaked version of the stress test results. In summary, both Bank of America and Citi will be urged to raise up to billions more in capital. As this is likely yet another form of PR manipulation, ZH will not comment on this topic until more data is available.
Overallotment: April 27
Submitted by Tyler Durden on 04/28/2009 00:49 -0500- Busting Bank of America (WSJ, hat tip Agrotera)
- The tyranny of experts (The Barricade)
- More on the idiotic jet flyover (NYT)
- Bair seeks to expand power, end "too big to fail" (Bloomberg)
- Volcker punctures the nonse
