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As the Dow drops below the so called November test, Hogan's bottom etc., Nouriel is stoking the fire:

PRU stock getting hammered after Fitch had some choice words for the insurer.

The Center for Responsive Politics has come out with an insightful list, disclosing Stanford's campaign contributions which shockingly demonstrates that R. Allen Stanford was president Obama's third largest donor.

Turns out Stanford was a big Democrat, giving almost a million to the Democratic Senatorial Campaign Committee.

Other politicians have benefited from Stanford's fraud inspired generosity over the years:
Bill Nelson, Florida Democrat: $45,900

Is the president watching?

[youtube=http://www.youtube.com/watch?v=bEZB4taSEoA&hl=en&fs=1]

Or Geithner and 51,999 (we jest Timmmmay). The U.S. government has filed suit in Miami alleging that U.S. customers have failed to pay taxes on 32,000 cash accounts and 20,000 securities accounts, which held $14.8 billion of assets in the mid-2000s, according to a Justice department statement.

No major surprises in SSCC's ISDA CDS and LCDS auctions. Creditex has determined the inside market mid-point for CDS at 7.875% while the LCDS mid is 68.5. Both points are consistent with recent trading levels of 68-70 for the loans and 7.75 - 9 for the bonds.

Net sell interest into determination of the final price is $128.675 million for the bonds and $40 million for the loans.

Final auction results will be made available around 2 pm and we will give you the full lowdown.

Vincent Montagna, who ran hedge-fund Tiburon Partners from 1998 to 2002 before being charged by the SEC for defrauding 70 investors out of $10 million, pled guilty to securities fraud, investment advisor fraud and wire fraud, and who was sentenced to 40 months in jail, is scheduled to start serv

After seemingly endless years of wrangling back and forth, Einhorn has finally been vindicated: Allied Capital announced in an 8K today that it was notified by its lenders of a default in its credit fa

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.

Whoodathunkit. The fashion company actually has debt... And not just any debt, but rapidly maturing one at that. BCBG has a $20 million loan payment in March which is very unlikely it will be able to make. Things are so bad even S&P came out of its rat hole and downgraded the company to CCC+