Dexia Shares Halted In Advance Of Substantial Loss, Asset Disposition Announcement

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Fri, 05/27/2011 - 07:16 | 1315787 Lord Welligton
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“The Franco-Belgian group will announce today the acceleration of its programme of asset disposals. While the European Commission had given it until the end of 2014, Dexia has decided to carry out the essential parts this year…”

“With assets of over EUR 50 billion being managed in Dublin alone, Dexia has put in place a strong team of financial market specialists to control the portfolios, not just for the Dublin office, but on behalf of Dexia on a worldwide basis. Investment centres in New York, Singapore and Berlin are coordinated and managed through the Portfolio Management Group, PMG in the Dublin office.”


Fri, 05/27/2011 - 07:31 | 1315804 MisterAmbassador
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This isn't really relevant, but it's genius and definitely worth listening to.  I couldn't sleep and came across this interview with Gerald Celente.

Have you noticed how difficult it is to get many people to actually listen to the truth?

Celente sums it up perfectly at about minute 7:30.  He calls it the new trend of "I don't want to know."

Why people don't wanna know?  Because conservatives believe, and liberals lie.


Have a good day, everyone.

Fri, 05/27/2011 - 07:38 | 1315810 Lord Welligton
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He calls it the new trend of "I don't want to know."

Will have a look.

Though I think for many people it is all to complicated. Deliberately made so by their leaders.

Most people have their fingers crossed hoping that everything will be ok in a couple of years.

Their leaders are happy to encourage this by saying that the debt is "manageable".

Nobody really wants to face the truth.

Fri, 05/27/2011 - 07:52 | 1315824 King Dong
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Fri, 05/27/2011 - 07:56 | 1315827 Duuude
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Luckily for Blackrock and Barclays, the market was just a little more efficient for them than for everyone else...


Paging Inaction Jackson...


Ah Fuggedaboudit...


Paging Chuck Jones...We have a call from Rod...


Fri, 05/27/2011 - 08:11 | 1315845 MisterAmbassador
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Good points.  Leaders definitely point fingers and kick the can down the road as far as they can.

He goes on to say that he's actually had some people unsubscribe from his newsletters and gives an example of someone who says they are tired of reading about all the bad things in the world and none of the million good things for every bad thing.

And, your conclusion is spot on - once most people realize that there really is no solution to our economic problems or, even the reactor problems in Japan, they tune out.  In fact, the media hardly even talk about Japan's problems anymore.  It's really quite incredible and incredibly sad - the complacency.

Fri, 05/27/2011 - 07:15 | 1315789 Urban Redneck
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It's Groundhog Day in Punxsutawney (AGAIN!)

Fri, 05/27/2011 - 07:19 | 1315790 bigdumbnugly
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 i haev alwyas had disdexia, even mroe now.

Fri, 05/27/2011 - 07:18 | 1315792 nmewn
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I hear they're giving out free "stress tests" ;-)

Fri, 05/27/2011 - 07:21 | 1315793 monkeys.pick.bottoms
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Is this the moment when the floor falls off Europe and all the fun begins?

Fri, 05/27/2011 - 07:35 | 1315812 oogs66
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the big problems for banks always start when short term funding dries up.  Not quite there, but heading in that direction.  and guess you can replace banks with countries too.

Fri, 05/27/2011 - 07:25 | 1315794 Paralympic Equity
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I am very interested in seeing where will the proceeds from the sales go (short term debt) and how much was the total sale.

How are the going to sell 35% of 560 billion EUR assets till 2014?

Didn't Rehn say that Greece was unlikely to sell 50 billion of assets in 4 years?

Fri, 05/27/2011 - 07:25 | 1315796 Captain Planet
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so, dexia is going to have to take losses on both insolvent local belgian towns, and the tract-home toxic poop out of ireland too?

seems like those who know their time is up, if they are looking for the exit, are going to go through the pain now.

iceland comes to mind. imho, icelandic govt. whistleblowers will earn a place in the history books as the first western country to get outa dodge

and just to say f*ck you, here's some more volcanic ash.

grounded bitchez

Fri, 05/27/2011 - 07:39 | 1315813 feeb
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OT - but when eating at Ted's Montana Grill the other day and researching a bit about Mr. Turner online, I discovered that the Captain Planet program was a Ted Turner (propaganda) creation. Earth...Fire...Wind...Water...Heart! Go Planet!

Scary to think how this admittedly creepy blue superhero from my youth was all Turner's doing.

Fri, 05/27/2011 - 07:28 | 1315797 Hephasteus
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Blackcrock can pay for this from all it's winning at commercial realestate in japan seminars.

Fri, 05/27/2011 - 07:29 | 1315798 max2205
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Mushroom cloud?

Fri, 05/27/2011 - 08:14 | 1315799 Troy Ounce
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Yeah, firesale

Yeah, balance sheets

Yeah, bankruptcies

Yeah, derivatives

Yeah, dominos

Yeah, entitlements

Yeah, burning parliaments

Yeah, PM

Yeah, tv, beer & chips

Yeah, Stone Street Advisors explaining this shit ;>(

Fri, 05/27/2011 - 08:03 | 1315811 virgilcaine
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It's a tough time to be insolvent.  Today I shall buy some Belgian chocolate in their honor.

Fri, 05/27/2011 - 08:17 | 1315863 Sudden Debt
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don't forget the beer to ;)



Fri, 05/27/2011 - 07:48 | 1315823 King Dong
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Fri, 05/27/2011 - 08:14 | 1315855 williambanzai7
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As usual, this happens going into a weekend.

Luckily Justin Bieber will be addressing the G8 and Debtbama is there to lead in the planning.

Fri, 05/27/2011 - 08:13 | 1315857 Sudden Debt
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The real news is that the government wants to get rid of it's stake in Dexia AS FAST AS POSSIBLE!!

The rest of the news is just smoke and mirrors.



Idiots can buy the dip... 


Next up: Hundreds of funds will get a suckerpunch hit from Dexia!

Fri, 05/27/2011 - 08:30 | 1315896 Global Hunter
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3.6 billion euros?  This is 2011 we deal in trillions now get with the program!

Fri, 05/27/2011 - 08:48 | 1315989 Sudden Debt
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In Belgium there live 10 million people of which 3 million work of which 1.7 million work for the government.

If you would compare it to the US, do everything X 35.

It would be like BAC or C needing another 100 billion.

In their first plea. That mostly means we're going to tripple that number anytime soon.

Fri, 05/27/2011 - 08:33 | 1315897 Dolemite
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Nasdaq in a great place for a sell entry

Fri, 05/27/2011 - 08:35 | 1315907 slaughterer
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Did Fitch, Moody's or S&P have a downgrade on Dexia at all before the Blackrock/Barclays maneouvre?

Fri, 05/27/2011 - 08:36 | 1315915 camoes
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Used to live in Lux just next to one of the Dexia's main office buildings...I would walk to work the opposite way the same time Dexia employees arrived, they all looked like drones and clueless

Fri, 05/27/2011 - 08:56 | 1316034 LawsofPhysics
LawsofPhysics's picture

Let the running of the banks begin!

Fri, 05/27/2011 - 09:00 | 1316049 Dick Darlington
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Remember to check out DEXMA public sector covered bonds. Quite impressive "asset pool" with nice little exposure to the periphery.

Fri, 05/27/2011 - 10:32 | 1316504 unununium
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Dexia=Domino, or just another community bank failure?  Depends on how may CDS are written against it.

Mon, 05/30/2011 - 22:51 | 1324282 joiceca
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