Archive - Mar 25, 2010 - Story

• Jonathan Weil: John Mack's short story was too dumb to fail (Bloomberg)
• Oops - RBS CDS surge on rumor of debt restructuring - yet another bankruptcy-cum-bailout for the Greek bond-laden third-tier repository of toxic assets? (Bloomberg)
• As expected, the entire manipulated, short-squeeze based market run up was merely for the benefit of the government selling its Citi stake (Reuters)
• Dubai bail out #2 (Bloomberg)
• Jobless claims still materially over 400,000 6 months after the "end" of the recession (Bloomberg)
• As Zero Hedge first reported, Social Security to see payout exceed pay-in this year (NYT)
• David Tepper probed by the SEC (WSJ)
• Cramer explains why he was wrong once again (CNBC)

From Goldman's Erik Nielsen: "According to the Reuters story below, Merkel said this morning as a government declaration in front of the German parliament (ahead of the EU summit) that help to Greece would only come as the very last resort, and that it (bilateral help) would come ONLY in combination with the IMF. Whether this was formally agreed yesterday by the Euro-zone heads of state remains uncertainly, but I think it is very likely. If so, its just a matter of rubber stamping it in the full EU summit today, since none of the non-Eurozone EU members would object to the IMF being involved" and this "It is not clear when Greece will formally approach the IMF, but it might happen within weeks, and very likely during the next few months. I think negotiations – when they get under way – will focus on a program of about EUR20bn over 18 months. Stay tuned."

RANsquawk 25th March Morning Briefing - Stocks, Bonds, FX etc.

• Asian shares mostly lower; but exporters hold Tokyo up.
• China won't succumb to foreign pressure on revaluation of Yuan, Zhong says.
• Dubai supports Dubai World’s debt restructuring with $9.5B of funds
• European try to find solution to Greek debt crisis as euro slides, Portugal downgraded.
• Germany asserts European clout to impose IMF role in EU rescue of Greece.
• IMF could demand stricter path out of Greece's economic crisis than EU.
• Oil hovers below $81 in Asia after US crude inventories increase.

RANsquawk 25th March Morning Briefing - Stocks, Bonds, FX etc.

In February of this year, Cryptome.org, a site run for the last fifteen years by Architect John Young had its PayPal account closed and in the process over $5,000 in donations confiscated.  Cryptome has made a name for itself over the years by publishing "documents for publication that are prohibited by governments worldwide, in particular material on freedom of expression, privacy, cryptology, dual-use technologies, national security, intelligence, and secret governance -- open, secret and classified documents -- but not limited to those."