- advertisements -
What? They dont own any Apple or NetFlix? Well thats their problem right there!
Was going to comment, and then realized the first 4 commentors said everything that's needed ROFL...touche.
and good to see ZH finally got rid of those FUCKING cramer ads on the site...
What did mommy Morgan know and when did she know it?
Gold going to 975 by concensus???
In Canadian Dollars. Canada is not playing the QE game, so I fully expect that as gold approaches $5k US the CND/USD exchange rate to be about 1:5. Also, as a miner, he has to look at worst case scenario in projecting production schedules and viability of the mining project. So he is looking at a floor of 975 Canadian.
Interesting take - I was thinking solely USD - I watched it again, its ambiguous.
No Chinese solars either. These guys are obviously not players.
Even tax sheltering UBS is better.
Why are people pulling their money? Isn't frontrunning legal these days and the best way to make a fortune? </sarcasm>
Same FrontPoint as Steve Eisman?
Yes, and Eisman's sleazy and dishonest attack on for-profit colleges could be next in the crosshairs. See, for example, the Bloomberg story about for-profit colleges recruiting in homeless shelters--it turns out that the letter about this practice to the Department of Education was drafted by a consultant to a firm that was shorting education stocks. She pretended to be a journalist (well, okay, she did get a reporter at Bloomberg to cooperate), and got directors of homeless shelters to sign a letter denouncing supposed abuses at other shelters. Eisman's collusion with Deputy Undersecretary of Education James Kvaal is a pretty remarkable chapter in the history of finance. Most importantly, though, Eisman launched his jihad without ever bothering to ascertain what the government recovered on the defaulted student loans it guarantees. Answer--over 100% of principal. And yet Eisman testified to the Senate that over the next decade the government was going to lose $275 billion on loans to students at for-profit colleges. I admire Eisman's work on subprime CDOs, but geez--what a lying sack of mung he is.
i do think the for-profit colleges are a major scam. one only has to look at the shady internet ads they pull attracting dumb money. Eisman certainly has a point with this. Governemnt might be able to recover teh student loans because afaik they are not discharged by bankruptcy. The student loan system is another big scam in my opinion.
I was an international graduate student here but a lot of my friends are still struggling with ridiculous amount of student debt but at least they have degrees from recognized universities. No recruiter would give any value to a degree from Devry university.
Thought Eisman was genius on sub-prime. How can this be happening?
FrontPoint is a hedge fund management company. One (biotech) fund blowing up is not akin to the demise of the firm--though I suppose it could trigger outflows at other funds. But still...
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.