Archive - Jun 2009 - Story

• Steve Jobs had a liver transplant 2 months ago (WSJ)
• Iran's political turmoil creates dilemma for Obama at home and overseas (Bloomberg)
• Cutting the Gordian Knot of GE Theory (AxiomaticEconomics)
• The Plaza stirs with 30 For Sale listings for a total of $250 million (

1am. Saturday morning. Why not?

http://s4.viastreaming.net:7760/listen.pls

For the 4 people who are still keeping track of the complete failure that is our banking industry, today the FDIC closed down three more banks. This is what - 40, 50, 60? banks that have failed year to date. I used to keep track few months ago. Now, not so much.

The first one:

Today the Unofficial Committee of Family and Dissident GM bondholders filed an objection to the 363 sale (link here). And any objection that starts with a quote from our current President's inaugural address promises to make for an interesting read: this one does not disappoint. The committee brings up a plethora of valid points, most of which go to the heart of the matter namely the speed of attempted 363 sale process.

Because, like clockwork, the entire market always turns on buy programs at the same time. Who cares about paying a good price when you are playing with other people's money in a SPARC-manipulated playground. Mr. T pities the retail fools who thought they have some chance of making money in this WWF-esque rigged spectacle.

Because, like clockwork, the entire market always turns on buy programs at the same time. Who cares about paying a good price when you are playing with other people's money in a SPARC-manipulated playground. Mr. T pities the retail fools who thought they have some chance of making money in this WWF-esque rigged spectacle.

The latest development in the Porsche-Volkswagen saga comes courtesy of German Manager-Magazin, which notes that Daimler is apparently in advanced negotiations to acquire a stake in the troubled luxury carmaker. It was still unclear what happened with the massive VOW options held by Porsche ahead of expiration today: as the company did not have the money to exercise them earlier, one can only hope that Porsche scrambled enough cash to at least roll the options.

The VIX - VXV relationship has dropped to a 2009 low, implying the 3M forward vol is abnormally high (projected volatility) relative to 1M (VIX), and extreme lows coincide with index turning points.

The VIX - VXV relationship has dropped to a 2009 low, implying the 3M forward vol is abnormally high (projected volatility) relative to 1M (VIX), and extreme lows coincide with index turning points.

Today the Unofficial Committee of Family and Dissident GM bondholders filed an objection to the 363 sale (link here). And any objection that starts with a quote from our current President's inaugural address promises to make for an interesting read: this one does not disappoint. The committee brings up a plethora of valid points, most of which go to the heart of the matter namely the speed of attempted 363 sale process.

Fox News reporting that Robert Gates is likely about to call Kim Jong Il's bluff about possible retaliation upon ship interception (and is happy to have placed those nuclear missile interceptors in Hawaii). From Fox News:

Because, like clockwork, the entire market always turns on buy programs at the same time.