Archive - Oct 27, 2009 - Blog entry
More Overselling of Pensions?
Submitted by Leo Kolivakis on 10/27/2009 22:15 -0500The pension debate needs to reopened. It's not a Conservative, Liberal or New Democratic issue, it's about doing what's best for hard working Canadians. The reforms proposed today are simply not enough and will leave far too many Canadians teetering on the edge of pension poverty. Surely we can do better. We owe it to millions of Canadians that through no fault of their own, have fallen victim to vagaries of the market.
Enlighten Me: WHY Should AIG Have Paid Swaps at < Par?
Submitted by Anal_yst on 10/27/2009 16:49 -0500Fellow Zerohedge contributor George Washington parrots the lovely Janet Tavakoli and states his (her?) ire that the "Evil Vampire Squids" at Goldman SHOULD NOT have been paid at Par for their CDS trades with AIG.
I, for one, don't necessarily agree.
Books that will help gain sanity in insane market - Part 2
Submitted by Vitaliy Katsenelson on 10/27/2009 16:47 -0500I originally wrote this list of recommended books last year; recently I updated and added a few more. I hope to keep adding to it every year. It contains six sections: Selling, Think Like an Investor, Behavioral Investing, Economics, Stock Market History, and Books for the Soul. Due to its length, I divided it into two parts. Here is part 2. I hope you enjoy it.
Big Banks Are NOT More Efficient
Submitted by George Washington on 10/27/2009 14:07 -0500The defenders of the TBTFs say that bigger is more efficient.
Are they right?
Tavakoli on AIG Swaps: "There’s No Way They Should Have Paid at Par. AIG Was Basically Bankrupt", and Goldman Sachs CFO Lied About AIG
Submitted by George Washington on 10/27/2009 12:58 -0500Janet Tavakoli with some more great quotes ...
Capmark Apparently Doesn't Read BoomBustBlog Either!
Submitted by Reggie Middleton on 10/27/2009 11:39 -0500If history has taught us anything, it is that those with the most money are not necessarily those that are best at investing money. There is a saying that encapsulates this in a somewhat more erudite manner (I would never be so forward, or so rude :-)) - "When playing poker, look around the table. If you can't find the sucker, it is probably you!". Obviously, the guys at Capmark didn't read BoomBustBlog...
Rydex Market Timers: All In (Again!)
Submitted by thetechnicaltake on 10/27/2009 08:14 -0500The Rydex market timer was buying yesterday's sell off.
At What Point Does Accounting Gimmickery Become an Outright Lie? Let's Ask PNC
Submitted by Reggie Middleton on 10/27/2009 06:39 -0500You know, I happen to really, really appreciate the blogoshpere. There are a select handful of blogs that offer unique, insightful and very difficult to come by expertise, opinion and commentary. Much more so than the mainstream media and even more so than the more specialized media. Despite this, there are certain components of the MSM and corporate America that still do not respect the blogs. Now, why is that? Well, I dare you - no, I double dare you - to find an MSM outlet that performs investigative analysis at the level of the top blogs. I'm not even going to bother to mention who those blogs are (hint, hint), but just want to throw the challenge out there as I show how PNC may have possibly pulled the wool over the collective media, sell side and market's eyes.
For Those That Didn't Notice the Worse Asset Quality on Record for PNC's Blowout Q3-09 Results
Submitted by Reggie Middleton on 10/27/2009 01:03 -0500Surprisingly good earnings, 10%+ rise in share price, declining charge offs and 90 day late paying loans, lower loss provisioning, rosy review from the media and more BUY, BUY, BUY signals from the sell side - what more could one ask from an anointed 19 bank? Well, for starters, we could request that their non-performing assets stop increasing at unprecedented rates. If not that, then we can always ask why reduce loss provisioning in the face of climbing non-performing loans...
