Archive - May 2009

It appears that the Daily Telegraph has gotten major cold feet about the incendiary interview (incendiary, at least, to the administration) it had posted last night with Mark Patterson. One can only speculate why that may be the case, but if you try to connect to the article that had received the biggest number of hits yesterday, you just get a big gaping 404 hole now.

Today, the WSJ finally picked up the story on one of the most interesting and exciting funds of the past decade: Renaissance, or affectionately known in geek circles as RenTec. Frequent readers of Zero Hedge are aware that there is likely much more than meets the eye at the uber secretive East Setauket campus.

Today, the WSJ finally picked up the story on one of the most interesting and exciting funds of the past decade: Renaissance, or affectionately known in geek circles as RenTec. Frequent readers of Zero Hedge are aware that there is likely much more than meets the eye at the uber secretive East Setauket campus.

According to NYSE data released yesterday, things are back to normal in the shady world of NYSE program trading, where after a suspicious lull in the prior week, Goldman Sachs' SLP function (or any other 3 letter acronym of your choosing) has cranked up yet again.

According to NYSE data released yesterday, things are back to normal in the shady world of NYSE program trading, where after a suspicious lull in the prior week, Goldman Sachs' SLP function (or any other 3 letter acronym of your choosing) has cranked up yet again.

• GM sends termination notices to 1,100 dealers (Bloomberg, AP)
• US regulators clash over holding bank management to account (Bloomberg)
• Obama's barbed words worry corporate world (Yahoo)
• Europe economy contracts the most since 1
  

• As ZH anticipated, the BGI troubles are much deeper than expected. Barclays urgently selling quant fund BGI, government darlings Blackrock and BONY in line to gobble it up (Bloomberg)
• Obama says U.S.
  

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.

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.

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.

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.

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.

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.

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.

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.