Archive - Jul 2009

Compliments of Muckety.

Spider-squid, spider-squid, does whatever a spider-squid does.

Big buck foreclosures trump green shoots.

Six takedown notices. Stop. Cause for celebration. Stop. Radio Zero to provide. Stop. 7:00 eastern. Stop. URL 15 minutes prior. Stop.

Chat up the DJ: here. Stop.

Find the feed here. End.

Does CNBC now have to pay back all those who bought stock after being pounded by this misquote over and over as an epilepsy inducing Breaking News box? That, of course, assumes the powers that be will allow the market to move down even 1 point from the most recent artificially high level.

SPY Out Of The Money Vol spiking relative to At The Money. Two days ahead of OPEX, market is gearing for some fireworks.

"They are literally stealing a hundred million dollars a day. Goldman Sachs is stealing every day on the floor of the exchange. They should be in the Hague, they should be taken on financial terrorism charges. They should all be thrown in jail"

Well, at least one person says what he thinks.

As if on cue, Blogger informed Zero Hedge today that it had received six takedown notices. Six.

Surprisingly this isn't the title of an alarmist book by an obscure author urging you to buy krugerrands and remote arable property. Instead it's a sober, substantive quantitative analysis series by Deutsche Bank's very smart Richard Parkus.

The HFRXEMN plotted since the time that Goldman Sachs barged on the liquidity provisioning scene with their SLP cover for PT domination. Maybe the NASDAQ should take a look at this and come up with some follow up complaints about what a scam the NYSE's program to gift 5 millisecond latency packet sniffing to 85 Broad truly is.

Update on the petition of "scholars" who believe the Fed's status quo is the only way to maintain their tenure. The full list for your convenience. Alas, Ben Dover from DeVry is nowhere to be found in the list. Also, #29 is not all that surprising. #33 and #215 were, of course, to be expected.

Many readers have queried how it is that investors could be so stupid to invest capital, either secured, mezzanine or heaven forbid, equity, in commercial real estate properties over the past several months. Zero Hedge would like to present some of the key pages from an investment solicitation book prepared by a major investment bank, which delineates just how it was that some of these very firms that now report massive profits, effectively took a complete piece of excrement and repackaged it as something that investors may actually generate returns on.

Spare yourself the commercial interruptions (and an artificially
inflated Nielsen score for you know who): here is the live webcast of
the Paulson hearing:

http://boss.streamos.com/wmedia-live/groc/16423/200_groc-110oversighthearings_070129.asx

Whit the recent elimination of anything even remotely approaching journalistic rigor or analysis, and its substitution with endless propaganda and the pitching of "hope" as an investment conduit, many have been scratching their heads over the question of just how it is that CNBC is still on the air, let alone make money: after all selling hope is a very expensive process.

I provide the answer.

Liquidating Nortel has more troubles to add to its plate. Not only is the Canadian firm seeing a major push back to its liquidation plans by recently notorious private equity firm MatlinPatterson, which refuses to go gently into that good night and write off its $400 million investment in the failed telecom maker, but now it has to deal with its own employees who have threatened to blow up a French plant unless they get preferential layoff terms. The Globe and Mail reports that "workers had placed gas cylinders in front of the plant in the Yvelines
area near Paris, where 480 jobs are set to be axed following bankruptcy
proceedings."