Archive - May 14, 2009

Tyler Durden's picture

Mark Patterson: "It's A Sham. The Banks Are Insolvent"





Update 2: Please see the most recent post in this thread, in which I disclose that representatives of Mr. Patterson dispute the original Ambrose Evans-Pritchard article was "fabricated" and have succeeded in getting the Daily Telegraph to remove it.

Update: Daily Telegraph story now "mysteriously" taken down.

 

Tyler Durden's picture

CT Attorney General: "It's Time To Shatter The Old Boys Club Of Rating Agencies"





For the few sane people who have been watching and recoiling with horror as Bernanke, Geithner and Bair implement their insidious "rich get richer" PPIP/TALF plan by relying exclusively on the AAA ratings of the very same rating agencies that were the primary cause of the current economic catastrophe (yes Steve Liesman, not the CDS market or CDS traders - the rating agencies) today was a glorious day.

 

Tyler Durden's picture

CT Attorney General: "It's Time To Shatter The Old Boys Club Of Rating Agencies"





For the few sane people who have been watching and recoiling with horror as Bernanke, Geithner and Bair implement their insidious "rich get richer" PPIP/TALF plan by relying exclusively on the AAA ratings of the very same rating agencies that were the primary cause of the current economic catastrophe (yes Steve Liesman, not the CDS market or CDS traders - the rating agencies) today was a glorious day.

 

Tyler Durden's picture

Shorting These Stocks Is Now Verboten





For all who wonder which shares are poised for the next invisible hand lift off, I present an email distributed earlier today by CMC, which is a major spread betting provider in the UK, to its clients.

 

Tyler Durden's picture

Shorting These Stocks Is Now Verboten





For all who wonder which shares are poised for the next invisible hand lift off, I present an email distributed earlier today by CMC, which is a major spread betting provider in the UK, to its clients.

 

Tyler Durden's picture

Shorting These Stocks Is Now Verboten





For all who wonder which shares are poised for the next invisible hand lift off, I present an email distributed earlier today by CMC, which is a major spread betting provider in the UK, to its clients.

 

Tyler Durden's picture

The "Special Servicing" Problem





Following up on a post from a few days ago in which the general skyrocketing of delinquencies was observed, today I present an overview of some of the largest properties and loans that have recently been put into that very unenviable category of "special servicing." According to Trepp, in April a record $4.4 billion in loans were transferred to special servicers, bringing the total to $23.8 billion.

 

Tyler Durden's picture

The "Special Servicing" Problem





Following up on a post from a few days ago in which the general skyrocketing of delinquencies was observed, today I present an overview of some of the largest properties and loans that have recently been put into that very unenviable category of "special servicing." According to Trepp, in April a record $4.4 billion in loans were transferred to special servicers, bringing the total to $23.8 billion.

 

Tyler Durden's picture

BankUnited Bidders Have Green Shoot Zero Tolerance





As Zero Hedge reported previously, Florida bank BankUnited was put on dodecatuple secret probation under a "prompt corrective action directive" on April 18th to find a buyer within 20 days or face imminent shutdown. 20 days came and went, and the bank is still standing "strong," unshutdown, and unpurchased.

 

Tyler Durden's picture

Dollar Pounding Continues Unabated





The DXY continues to tunnel deep inside 200 DMA territory, with equity momo day traders and overcaffeinated hi fi program traders taking a cue from the 2005 playbook and buying up equities, making even more impromptu follow on offerings not a question of if but when. Then again, nobody said bizarro market is over, and in this upside-down world dilution is a good thing.

 

Tyler Durden's picture

Dollar Pounding Continues Unabated





The DXY continues to tunnel deep inside 200 DMA territory, with equity momo day traders and overcaffeinated hi fi program traders taking a cue from the 2005 playbook and buying up equities, making even more impromptu follow on offerings not a question of if but when. Then again, nobody said bizarro market is over, and in this upside-down world dilution is a good thing.

 

Tyler Durden's picture

Key BlackRock High Yield Debt Managers Depart





Bloomberg reports that the largest publicly traded asset manager has lost its two key debt-focused executives.

 

Tyler Durden's picture

Clear Channel Considering Prepackaged Bankruptcy





Mega-LBO Clear Channel, which closed a mere 9 months ago, and is faced with a staggering debt load, is considering among other options, a prepackaged bankruptcy to address its insurmountable leverage, the NY Post reported today.

 

Tyler Durden's picture

Some Housekeeping





Due to a change in the Zero Hedge DNS provider, the site may experience abnormally slow traffic today which will hopefully be resolved within a day or two. As a result of the change, the www.zerohedge.com forwarding address is temporarily down, as are current email configurations. If readers have pressing email questions or requests, please send them to zerohedge@gmail.com until things revert back to normal.

 

Tyler Durden's picture

Mapping The Chrysler Fallout





The map below demonstrates the chickenpox impact that just the initial round of Chrysler dealer shutdowns will have on the US economy.

 
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