Archive - Apr 2009 - Story
April 5th
Copper demand outlook in the short term
Submitted by Tyler Durden on 04/05/2009 21:47 -0500Tyler and I are thinking of redoing the 4th floor at ZH headquarters and to figure out when to do it, we were looking at copper futures on COMX (which is what normal people do... right?)
Below is a chart for a HG N9 contract (high grade copper for delivery on July 2009, which is one of the more liquid contracts currently out there):
Congressional Budget Office Doubles Estimated TARP Cost To $356 Billion
Submitted by Tyler Durden on 04/05/2009 19:26 -0500In what should likely be a much more publicized piece of information, the Congressional Budget Office doubled the projected cost of the TARP bailout plan to $356 billion, versus an earlier estimate of $189 billion: an increase of $167 billion on the taxpayer's dime. According to the March CBO report, the total revised deficit under the Obama budget will hit $1.8 trillion in 2009 (and then never go negative pretty much in perpetuity, in other words deficit forever):
Congressional Budget Office Doubles Estimated TARP Cost To $356 Billion
Submitted by Tyler Durden on 04/05/2009 19:26 -0500In what should likely be a much more publicized piece of information, the Congressional Budget Office doubled the projected cost of the TARP bailout plan to $356 billion, versus an earlier estimate of $189 billion: an increase of $167 billion on the taxpayer's dime. According to the March CBO report, the total revised deficit under the Obama budget will hit $1.8 trillion in 2009 (and then never go negative pretty much in perpetuity, in other words deficit forever):
One potential option for hedge fund regulation
Submitted by Tyler Durden on 04/05/2009 19:00 -0500ZH has closely been covering and providing commentary on the publicly released details of Geithner's "New Rules of the Game"; a couple of posts by Rick Bookstaber (here and here) make a convincing case for the most effective way to limit future market risk.
CaliSTRSnication
Submitted by Tyler Durden on 04/05/2009 18:44 -0500A week ago ZH attempted to present the behind the scenes gimmicks at CalPERS, which, with its $53 billion in PE committed capital, I claimed, is a critical pillar of support for the private equity community.
Exposing The Utter Hypocrisy Of The FDIC, And How Andy Beal Is Making A Killing Off It
Submitted by Tyler Durden on 04/05/2009 15:07 -0500For all those who feel like punching their monitor or TV every time the administration says that the legacy loan program is fair and equitable at a transaction price in the 80-90 cent ballpark, we have some news for you (that will likely make the half life of said monitor or TV even shorter).
Exposing The Utter Hypocrisy Of The FDIC, And How Andy Beal Is Making A Killing Off It
Submitted by Tyler Durden on 04/05/2009 15:07 -0500For all those who feel like punching their monitor or TV every time the administration says that the legacy loan program is fair and equitable at a transaction price in the 80-90 cent ballpark, we have some news for you (that will likely make the half life of said monitor or TV even shorter).
Exposing The Utter Hypocrisy Of The FDIC, And How Andy Beal Is Making A Killing Off It
Submitted by Tyler Durden on 04/05/2009 15:07 -0500For all those who feel like punching their monitor or TV every time the administration says that the legacy loan program is fair and equitable at a transaction price in the 80-90 cent ballpark, we have some news for you (that will likely make the half life of said monitor or TV even shorter).
Developing Story: North Korea Has Launched A Long Range Rocket
Submitted by Tyler Durden on 04/05/2009 02:14 -0500
As of 11:04pm Eastern the rocket had passed Japan with a payload that is unclear but according to Yonhap South Korea news agency it was likely a satellite. Immediate condemnation from all regional countries: Japan government says launch is "regrettable" while S. Korea said launch is a "grave threat" to world peace. The State Dept of the U.S.
Developing Story: North Korea Has Launched A Long Range Rocket
Submitted by Tyler Durden on 04/05/2009 02:14 -0500
As of 11:04pm Eastern the rocket had passed Japan with a payload that is unclear but according to Yonhap South Korea news agency it was likely a satellite. Immediate condemnation from all regional countries: Japan government says launch is "regrettable" while S. Korea said launch is a "grave threat" to world peace. The State Dept of the U.S.
Developing Story: North Korea Has Launched A Long Range Rocket
Submitted by Tyler Durden on 04/05/2009 02:14 -0500
As of 11:04pm Eastern the rocket had passed Japan with a payload that is unclear but according to Yonhap South Korea news agency it was likely a satellite. Immediate condemnation from all regional countries: Japan government says launch is "regrettable" while S. Korea said launch is a "grave threat" to world peace. The State Dept of the U.S.
April 4th
Moody's To Arbitrate When A Default Is Not A Default, Hedge Funds To Suffer
Submitted by Tyler Durden on 04/04/2009 21:03 -0500A little noticed document Moody's released on March 24 entitled "Moody's Approach to Evaluating Distressed Exchanges", could mean accelerated defaults for troubled companies pursuing debt buybacks in the open market, and the end of this practice, as companies will have no idea if Moody's will decide they merit the unenviable designation of "Limited Default."
