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Friday Flush Sticksave Provided By Fed, As Basel Capital Charge Requirement "May" Be Lowered From 3% To 2-2.5%

Tyler Durden's picture


Nothing like the Criminal Reserve announcing at 2pm on Friday, just as the market was about to flush all stops to the bottom that the already laughable 3% capital charge buffer (initially expected to be 9%) required by Basel may be reduced even more (according to NY Fed mouthpiece Steve Liesman, a hypothetical which will likely be refuted before long), probably down to 2-2.5%. This number is woefully inadequate to protect financial companies from the the material capital infusion that will be needed post the onboarding of $200+ trillion in OTC derivatives to exchanges as we reported previosuly, but who the hell cares: must kick the can down the road one more day.

XLF's knee jerk reaction.


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Fri, 06/10/2011 - 14:26 | 1358725 TruthInSunshine
TruthInSunshine's picture

Drop the reserve ratios to 0%.

Does it really matter when the 3% or 2.25% or WTF is free fiatski, with a government guaranteed backstop?


Fri, 06/10/2011 - 14:33 | 1358797 rocker
rocker's picture

CNBC is in on the FRAUD news.  They had a team to report on this scam. Rumor is all the hedge funds had trades in before.

The rumor mill says Goldman, BAC and JPM will make a million or more on the news.

Fri, 06/10/2011 - 14:44 | 1358852 hambone
hambone's picture

CNBC also reports that Fed will offer free blow jobs with purchase of ES contracts.  Oh, and free ice cream for the kiddies (the two are not connected).

Maybe it's time for "sources" in the WH to announce a new stimulus package is in the works?

Fri, 06/10/2011 - 14:49 | 1358890 hugovanderbubble
hugovanderbubble's picture

Shut down the CNBC,

ZH 100% better info and content.

Fri, 06/10/2011 - 14:41 | 1358850 hugovanderbubble
hugovanderbubble's picture

its just an intentional rumor


Keep shorting banks and insurance till 1.100

Fri, 06/10/2011 - 14:47 | 1358860 rocker
rocker's picture

I thought they were suppose to be honest. They all belong in Jail.

Fri, 06/10/2011 - 17:52 | 1359680 rocker
rocker's picture

When is collusion by CNBC, a hedge fund or two and traders criminal?  At exactly 2:00 is when the XLF manipulation started.  With news commentaries from four analyst provided by CNBC already lined up, to assist us in the benefits to the banks on this great news to save the bankers.  Was it a secret meeting or a secret scam to benefit some insiders of the plan to make huge profits trading on the scheme ?   

 Does this qualify as insider trading ? 

Hello SEC or DOJ or anybody who believes the markets should have some kind of integrity. 

Fri, 06/10/2011 - 14:51 | 1358872 TruthInSunshine
TruthInSunshine's picture

There is absolutely nothing like a good rumor to fix all that is fundamentally wrong, even if the substance the rumor speaks to wouldn't do jack shit in reality, so that several dozens of millions in fiatski can be scalped in milliseconds by little black boxes allegedly containing algorithms, but actually only contain tiny midget traders that receive front running info via a red telephone.

Fri, 06/10/2011 - 15:18 | 1359046 rocker
rocker's picture

I usually watch Bloomberg, I saw the spike up on the banks, turned over to CNBC and they had Breaking News.

Huh, With a whole team of analyst to report of how gooooood the news is for the banks.

I did not know CNBC's staff of Women, including Liesman, had the responsibility to blow all the Bankers.

Hmmmmmmmmmm.  What a shit financial news station.

ZH Rules.  No.1 in real unbiased Market news. Good or Bad. 

Fri, 06/10/2011 - 15:26 | 1359079 Cdad
Cdad's picture

Who wants to organize a Creative Letter Writing contest with the Theme :

Dear NBC:

Why I think your network should be shuttered for the sake of the Republic...


Whenever you see large institutions that care not a bit about their crumbling integrity, that is exactly when folk should start getting very, very nervous.  This goes for both the BlowHorn and the Federal Reserve Bank.


Fri, 06/10/2011 - 15:31 | 1359136 rocker
rocker's picture

I would hope that the people at CNBC have to take care about where they are seen in public.

I can not imagine that they are liked everywhere.  Not all of New York can be in love with them.

Fri, 06/10/2011 - 14:49 | 1358866 LawsofPhysics
LawsofPhysics's picture

No kidding.  How laughable is the financial system now?

Fri, 06/10/2011 - 14:59 | 1358933 SheepDog-One
SheepDog-One's picture

Its totaly laughable, and theyre extremely puzzled why we dont take them seriously at all since they tell themselves we're all just a bunch of retarded plebes. The dangers of buying your own hype.

Fri, 06/10/2011 - 15:04 | 1358987 Cdad
Cdad's picture

Sell it.  The first really large sell wave has already come through.

And will someone please arrest the Federal Reserve Chairman, the one who cannot even let his second crime wave end before teasing the market with his next crime wave.  

For fucks sake!  Lower capital requirements on insolvent banks?  Are you kidding...this is the best rumor they could come up with?

Fri, 06/10/2011 - 15:23 | 1359070 Cdad
Cdad's picture

And somebody send someone to pick up Duncan Niederauer, as well...for the co located nightmare he helped to install in this market place.

Sell it, folks...this has been a rumor innitiated, computer harvested scam...brought to you by your friendly criminal syndicate Wall Street banker supporters at the BlowHorn [CNBC].

Fri, 06/10/2011 - 15:31 | 1359110 TruthInSunshine
TruthInSunshine's picture

CNBC - I quit watching it years ago, and can't believe I could ever stomach it.

It's literally a direct proxy of the 'Federal' Reserve and our very honest and upstanding government.

The jig was really up when it dawned on many that GE, formerly owning NBC along with the parasitic lamphrey that is CNBSC, was one of the biggest donees of the government bailout, through TARP and TALF (not to mention all the low interest loans and even access to the discount window it availed itself of, or the government contracts it receives). To add insult to injury, Jeff Immelt, as you know, now works in the Obama Administration.

CONfidence games amongst media participants in the great experiment in McMockracy have never been so easy to spot.

And what a fine, fine McMockracy it is!

Fri, 06/10/2011 - 15:46 | 1359172 Cdad
Cdad's picture

Brother Truth,

The GE thing is epic...and I mean epic...crony capitalism.  It also contains some serious personal liberty selling by the corptocracy, for the promise of "ear mark" cash.  Seriously disgusting, and not at all surprising that our President, who seems to have a taste for fascism/Marxism, would choose Immelt to join his failing administration.

And you are also correct about just how helpful The BlowHorn was when it came to facilitating the $7 trillion dollar stimulous, bailout theft of Average Joes' future children's tax payer pockets.  

But fool me once, shame on you.  As the the market now falls apart a second time, you can count on continued bullishness from the network...until they suddenly go bearish and start the fear which time you'll have your cues for covering short positions.

This rumor blip today will prove to be absolute nonsense...just an algorithmic trim on the dunce algos [typically firing on half of their cylinders and emanating from Hong Kong.]

**oh, and I just noticed that all the algo trick did was bring the Vix back down to Carter Worth's cool "smoothing mechanism"...where the Vix BOUNCED.**

Fri, 06/10/2011 - 15:43 | 1359170 SilverRhino
SilverRhino's picture

Fuck, I'd like to see the Silver price effects if CRIMEX were to lower margin requirements by almost 30%.


Fri, 06/10/2011 - 19:00 | 1359931 karzai_luver
karzai_luver's picture

I coulda swore that beernake said about a year or so ago

that any amount of reserve was dumb.

sub zero dude! GO FER IT! LETS ROLLLLLLLL!!!!

Fri, 06/10/2011 - 14:23 | 1358726 Bam_Man
Bam_Man's picture

Good luck trading this market without inside information.

And they wonder why Mom and Pop have stayed away.

Fri, 06/10/2011 - 14:49 | 1358813 russwinter
russwinter's picture

It's looking more and more like these tawdry leaks and manipulations (the obfuscation trade) are no longer saving the busted system. Buy this little rally-ette and be crushed. 

Fri, 06/10/2011 - 14:59 | 1358961 Spastica Rex
Spastica Rex's picture

Most excellent avatar.

Fri, 06/10/2011 - 15:06 | 1358978 russwinter
russwinter's picture

thank you pale face

Fri, 06/10/2011 - 14:53 | 1358898 hugovanderbubble
hugovanderbubble's picture


completly agree sir.

Fri, 06/10/2011 - 14:27 | 1358732 etrader
etrader's picture

Always helpful when it co-insides with the 200+/- ema "Blind order white boxes"

Wont last long. Just need to flush the demand. They'll just try & swamp it the 1272 area.

Fri, 06/10/2011 - 15:15 | 1359047 Translational Lift
Translational Lift's picture

PPT in action....I hear they get paid OT for staying late in the day.....This is late in the day for FED employees....

Fri, 06/10/2011 - 15:23 | 1359085 r101958
r101958's picture

(sarc/on) But wait, remember? ....there is no PPT....that is just tin foil... (sarc/off).

Fri, 06/10/2011 - 14:27 | 1358734 rubearish10
rubearish10's picture

Oh, I thought it was that much better than expected Budget deficit figure.

Fri, 06/10/2011 - 14:24 | 1358735 HamyWanger
HamyWanger's picture

Hilarious. The PigMen have once again achieved the "impossible", right when the SPY was finally going to have a correction. 

I expect LULU to reach back its all-time highs as soon as monday.

Fri, 06/10/2011 - 14:30 | 1358749 HelluvaEngineer
HelluvaEngineer's picture

Robo, how do you sign out and back in so quickly?

Fri, 06/10/2011 - 15:43 | 1359183 slewie the pi-rat
slewie the pi-rat's picture

i confess!  i have never been in the same room, together, with either of them!  now let me go!

this is funny!  should we expect hamy to be posting pictures, now? 

Fri, 06/10/2011 - 14:42 | 1358854 Internet Tough Guy
Internet Tough Guy's picture

Channeling Momofader now?

Fri, 06/10/2011 - 14:48 | 1358864 SheepDog-One
SheepDog-One's picture

RoboFaker at least get the troll names right.

Fri, 06/10/2011 - 14:29 | 1358738 plocequ1
plocequ1's picture

"but who the hell cares".. Copy and paste x1000

Fri, 06/10/2011 - 14:28 | 1358739 ShankyS
ShankyS's picture

Around 1267.50 is the daily CLOSE SPX support diagonal off the 667 lows. The end is near (till QE3 of course).

Fri, 06/10/2011 - 14:26 | 1358741 SDRII
SDRII's picture

they are 30 minutes early with the announcement - selling to commence at 3pm...same time same place

Fri, 06/10/2011 - 14:25 | 1358743 cossack55
cossack55's picture


Drudge stating Swiss politicians marching on Bilderburger scum to arrest the war criminal Kissinger.  Looks like a Tyler take to me.  ZH can always add that cynical, iconoclastic slant we all know and love.

Fri, 06/10/2011 - 14:25 | 1358744 Motorhead
Motorhead's picture

Doo dah, doo dah.

Fri, 06/10/2011 - 14:50 | 1358876 The Fonz
The Fonz's picture

Camptown ladies sing this song! Doo dah, doo dah!

This really can't hold up long! Oh the doo dah day!

Fri, 06/10/2011 - 14:25 | 1358746 johngaltfla
johngaltfla's picture

And this improves solvency on deteriorating Tier 1 assets how again?

Fri, 06/10/2011 - 14:38 | 1358811 alien-IQ
alien-IQ's picture

watch for them to lower the daily ATM usage allowed. proving once and for all there once you put your money in a ceases to be your money and becomes their gambling and bonus fund.

I'm gonna need a bigger mattress.

Fri, 06/10/2011 - 14:29 | 1358747 taraxias
taraxias's picture

They can jawbone all they like, the momentum is DOWN. All they are trying to do is controll the implosion. Stay short.

Fri, 06/10/2011 - 14:46 | 1358870 SheepDog-One
SheepDog-One's picture

Mr Market might duck into a methadone clinic here and there along the way, but the downward spiral has commenced, his free smack has been cut off.

Fri, 06/10/2011 - 14:28 | 1358748 AGoldhamster
AGoldhamster's picture

down we go - next 4-6 weeks - everything in between is noise
all rallies are to be sold
in everything, no exceptions

everything short - dollar long

Fri, 06/10/2011 - 15:01 | 1358925 Bob
Bob's picture


Fri, 06/10/2011 - 14:30 | 1358756 slow_roast
slow_roast's picture

Won't even hold out until the close...hahahh

Fri, 06/10/2011 - 14:35 | 1358791 HelluvaEngineer
HelluvaEngineer's picture

Right.  Traders "may" be fading this move already.

Fri, 06/10/2011 - 14:48 | 1358835 etrader
etrader's picture


Look how easy the weak hands like robo jusy got knocked out of their position shorts...:)

Fri, 06/10/2011 - 14:35 | 1358790 TruthInSunshine
TruthInSunshine's picture

The Fed has rollover money from interest they will receive on MBS and other toxic sludge (before that ultimately grenades) that they can rollover into more terrible investment acquisitions.

It won't be anywhere close to QEeefable levels of buying power, but it's something, or so they say.

Fri, 06/10/2011 - 14:56 | 1358842 Duuude
Duuude's picture

And ready $$$


To implement monetary policy, short-term repurchase and reverse repurchase agreements are used to temporarily affect the size of the Federal Reserve System's portfolio and influence day-to-day trading in the federal funds market....


And support our members, the banks

There, fixed it


Fri, 06/10/2011 - 14:28 | 1358763 alien-IQ
alien-IQ's picture

absolutely INSANE.

there will be no receiver for this hail mary.

Fri, 06/10/2011 - 14:33 | 1358773 TruthInSunshine
TruthInSunshine's picture

It's like what happens if a tree falls in a forest and no is around to hear it...

...that whole hail mary pass with no receiver thing.

Fri, 06/10/2011 - 14:37 | 1358820 HelluvaEngineer
HelluvaEngineer's picture

What are you talking about?  Robo went long GS at 135.70

Fri, 06/10/2011 - 14:38 | 1358830 TruthInSunshine
TruthInSunshine's picture

That's what he said then.

After the fact, he'll let everyone know he was secretly short.

Fri, 06/10/2011 - 14:28 | 1358766 scatterbrains
scatterbrains's picture

would it be true to say that when you get to zero capital requirements and no limits to futures trading positions your allowed to take on (if your JPM etc.) along with access to credit at .001 from the fed, means you literally have an infinite amount of pressure you can apply to either side of a trade to effect what ever outcome you desire?

Fri, 06/10/2011 - 14:33 | 1358771 mukuch
mukuch's picture

This smells of a preemptive action to an imminent event, I'd say a capital event is lurking nearby.

Has Greece default been already tentatively agreed upon behind the closed doors?......

Fri, 06/10/2011 - 14:39 | 1358836 Translational Lift
Translational Lift's picture

Just came across TOS news that obummer is going to help bail out Greece................HA...too fkn funny.........

Fri, 06/10/2011 - 14:59 | 1358940 alien-IQ
alien-IQ's picture

what the fuck is he gonna give them? hopium? cause he sure as fuck ain't got no money to spare.

Fri, 06/10/2011 - 14:33 | 1358772 101 years and c...
101 years and counting's picture

the only reason the fed would do this is to trap more bulls.  S&P 1275 and $100 oil doesnt warrant QE3.

Fri, 06/10/2011 - 14:33 | 1358774 Goofy Bastard
Goofy Bastard's picture

I can't wait to see things like this covered in some PBS documentary in 10 years on the collapse of the dollar.  The average American will still be in "how did this happen?" mode

Fri, 06/10/2011 - 14:57 | 1358917 alien-IQ
alien-IQ's picture

they'll have no time to think about it...they'll be too busy trying to learn how to say "would you like fries with that" in Chinese.

Fri, 06/10/2011 - 15:50 | 1359200 SilverRhino
SilverRhino's picture

And millions of American women will be on their knees trying to earn a Chinese husband. 

Fri, 06/10/2011 - 14:33 | 1358776 nicktd
nicktd's picture

Steve is a dumfuk

Fri, 06/10/2011 - 14:48 | 1358883 alien-IQ
alien-IQ's picture

he's the Liesman

Fri, 06/10/2011 - 15:01 | 1358950 firefighter302
firefighter302's picture

Lies, Lies, Liesman.

A purveyor of "continued success" thru more national debt and increased taxation on businesses. (to create job, of course.)

He, who have not the dignity nor character to admit when he is absolutely wrong. And a "blowhard" for his master, the fool at the FED.

It's all become a circus and a charade.


Fri, 06/10/2011 - 15:47 | 1359185 nicktd
nicktd's picture

tks for helping me short dumfuk fed slut

Fri, 06/10/2011 - 14:33 | 1358777 Korrath
Korrath's picture

Ok, enough with the comic shenanigans; it's 2:30pm on a Friday afternoon, and the only truly important question left to ask is...who else is in the mood for a drink?

Fri, 06/10/2011 - 14:42 | 1358829 mynhair
mynhair's picture


Fri, 06/10/2011 - 14:51 | 1358882 SheepDog-One
SheepDog-One's picture

Been sippin a bit already. After the close its onto boilermakers.

Fri, 06/10/2011 - 16:03 | 1359238 TruthInSunshine
TruthInSunshine's picture

This is what they're sipping on in St. Moritz, homefry.

Remy Martin Louis Xiii Grande

Fri, 06/10/2011 - 14:58 | 1358928 dracos_ghost
dracos_ghost's picture

Yabba dabba do.

Fri, 06/10/2011 - 14:33 | 1358779 Al Huxley
Al Huxley's picture

Ho ho ho.  To paraphrase a similar poster from a few days back - 'This is Calvinball'.  There are no rules.  Down 4 - 0 in the bottom of the ninth with 2 out?  No problem, its now 10 outs a side, and a strikeout counts as 10 points.  You can not win on the bear side in a rigged market...  The wealth confiscation will be through inflation, not collapse.

Fri, 06/10/2011 - 14:55 | 1358932 LawsofPhysics
LawsofPhysics's picture

Yep, go to all things physical of real value, ASAP, and maybe some basket fiat.  Wait to buy more value-added assets for pennies on the former pound, dollar, yuan, etc.  Nothing else you can do really.  You now need inside information to do anything else.

Fri, 06/10/2011 - 14:34 | 1358783 AldoHux_IV
AldoHux_IV's picture

It'll only hurt the financials in the long run.

Fri, 06/10/2011 - 14:37 | 1358799 monopoly
monopoly's picture

How can an absolute twit like make the markets move like this. And the audience for the idiot channel I would guess is near an all time low. Staying short all here. Shows us how desperate they are getting. Gonna get scary soon.

Fri, 06/10/2011 - 15:01 | 1358949 lizzy36
lizzy36's picture

Please. In 2008 leaks from Treasury and Fed to CNBC moves markets 100's of points a day.

This is just playbook 2008 redux.

Fri, 06/10/2011 - 14:35 | 1358814 SwingForce
SwingForce's picture

Was it Steve who bot those XLF Jul 16s last week?

Fri, 06/10/2011 - 14:35 | 1358816 RobotTrader
RobotTrader's picture

MS, GS, BAC, and the rest of the "worst of the worst" are up 2% already

Fri, 06/10/2011 - 14:38 | 1358826 HelluvaEngineer
HelluvaEngineer's picture

...but unfortunately the markets are still open

Fri, 06/10/2011 - 14:37 | 1358824 RobotTrader
RobotTrader's picture

Hilarious how a rescue of the banks also turned up the EUR, AUD, GLD, etc.

All the Wildebeests are being herded together by Liesman's "Rumor Mill" cattleprod.

Now all we need is "Gasp"erino at Fox to confirm....


Fri, 06/10/2011 - 15:07 | 1358982 Spastica Rex
Spastica Rex's picture

Well, A Tale of Two Cities is certainly the better novel of the two, but I prefer the charcters in Bleak House.

Fri, 06/10/2011 - 14:38 | 1358832 Jim in MN
Jim in MN's picture

Tyler, how about a post dissecting Paul Krugman's new eye-opener, 'Rule by Rentiers'?  He's only two years late.  Or is is three...but he finally says that protecting uberelite bond holders no matter what is economic doom.

Finally.  Like anyone cares now.  The robots will shed tiny little tears of lubricant, perhaps....

Fri, 06/10/2011 - 19:06 | 1359956 karzai_luver
karzai_luver's picture

robots --- hilarious!!!!


Fri, 06/10/2011 - 14:39 | 1358837 YesWeKahn
YesWeKahn's picture

The criminal reserved is elected by the bankers any how. It represents the banks. It will never protect the consumers. The fact that the congress lets the criminal reserve to draft regulations for the banks is simply a joke.

Fri, 06/10/2011 - 14:44 | 1358847 Quinvarius
Quinvarius's picture

Looks like that might just be QE3.  Haha.

Fri, 06/10/2011 - 14:46 | 1358851 Eireann go Brach
Eireann go Brach's picture

The wankin fuckin bankers will have their day again in the sunshine very soon!

Fri, 06/10/2011 - 14:43 | 1358857 carbonmutant
carbonmutant's picture

Market doesn't seem to buying the FED's BS...

Fri, 06/10/2011 - 14:49 | 1358887 plocequ1
plocequ1's picture

Market? What market. You mean the machines, Right?

Fri, 06/10/2011 - 14:50 | 1358880 hugovanderbubble
hugovanderbubble's picture

=This act gonna be investigated by the SEC? lol........

what a scam market....


GS up 4 points cos just magic and sorcery....

Say in Public.....STOCK MARKETS are horrible Manipulated ...this is not fair...for a humble trading and portfolio manager.

Fri, 06/10/2011 - 14:53 | 1358914 alfred b.
alfred b.'s picture


Luckily for the banksters that they deal in fiat garbage; now if they happened to be bullion dealers....

New York and Washington mafiose are alive and well !!!

Fri, 06/10/2011 - 14:57 | 1358924 Quinvarius
Quinvarius's picture

At some point, banks are going to need negative capital requirements.  And It hurts my head to try and figure out what that means.

Fri, 06/10/2011 - 19:05 | 1359958 karzai_luver
karzai_luver's picture

subzero DUDE, been waitin for it for 2 years now.



Fri, 06/10/2011 - 15:00 | 1358945 mynhair
mynhair's picture

Damn Weinersukkers - just stopped out on profit protection.

Fri, 06/10/2011 - 14:57 | 1358946 dracos_ghost
dracos_ghost's picture

So I guess Dow 12000 is the over/under for today.

That Dow below 12K headline probably gave the Bernank gas. Must close above 12K on Dow.

Fri, 06/10/2011 - 15:01 | 1358951 Iriestx
Iriestx's picture

12,000?  They're going to ramp this fucker green by EOD.

Fri, 06/10/2011 - 14:57 | 1358948 LawsofPhysics
LawsofPhysics's picture

The image says it all.

Fri, 06/10/2011 - 15:25 | 1358958 TruthInSunshine
TruthInSunshine's picture

They got the dow above the pixie dust 12000 level...

...Bernank is about to bring in the big gun, Nails Dykstra, for insurance, at 3:00 pm. Nails always wanted to be a pitcher, is said to have a wicked breaking ball, and Bernank's just desperate enough to give him his chance.

Fri, 06/10/2011 - 15:03 | 1358980 LawsofPhysics
LawsofPhysics's picture

Could someone post a link so we know precisely how our "representatives" voted on this bill?  That would be useful.

Fri, 06/10/2011 - 15:05 | 1358991 mynhair
mynhair's picture

What bill?


"Weiner - I'll just stick it out".  Steep learning curve there.

Fri, 06/10/2011 - 15:35 | 1359151 LawsofPhysics
LawsofPhysics's picture

I thought that the capital charge and reserve requirements were part of the frank-dodd bill (two ultimate insiders)?  Is this incorrect, precisely who changed the capital charge requirement then?

Fri, 06/10/2011 - 15:08 | 1358988 lizzy36
lizzy36's picture

And CNBC keeps running "BREAKING NEWS" on this rumor.

Leisman now opining about capital buffers.

I need sangria. A jug.

Fri, 06/10/2011 - 15:12 | 1359007 Translational Lift
Translational Lift's picture

What amazes me is that ANYONE actually trades on info from CNBS.............

Fri, 06/10/2011 - 16:17 | 1359324 carbonmutant
carbonmutant's picture

"For Entertainment Purposes Only"

Fri, 06/10/2011 - 15:11 | 1359002 TruthInSunshine
TruthInSunshine's picture

There is no manipulation through proxy financial mouthpieces today to try and temporarily stave off too bad a close, because such a thing would be called out and identified for the sham and farce and complete tell of desperation of a dying enterprise that it is.



Fri, 06/10/2011 - 15:13 | 1359008 mynhair
mynhair's picture

Weiner loose in South Carolina:


Fri, 06/10/2011 - 15:11 | 1359028 gigeze787
gigeze787's picture

Was Obama's favorite banker Jamie Dimon's public attack on Bernanke orchestrated to cause a sell-off...and to bait shorting into the XLF and its component banks?

Wonder how much the TBTF prop desks made after their fawning factotum, Liesman, went on the air precisely at 2pm?

No, there are no conspiracies like this is America...its just Kudlow's 'free market capitalism' (for a select few cronies) in action.

Fri, 06/10/2011 - 15:15 | 1359029 docj
docj's picture

Gee, didn't see that coming.

Oh, wait...

And I'm a total amateur, folks. Trust me on that.

Fri, 06/10/2011 - 15:17 | 1359038 monopoly
monopoly's picture

Nope, do not think you get green or 12,000 on the close. We got a game changer all.

Fri, 06/10/2011 - 15:14 | 1359043 wombats
wombats's picture

At this point does it really matter?  What difference does it make if we go from screwed to screwed x 2 or screwed x 3?  Either way we are screwed.  Maybe it will just implode sooner and the country will be able to get the immenent doom over with and get on with life a little sooner.

Fri, 06/10/2011 - 15:23 | 1359057 hambone
hambone's picture

Market shows just how truly resilient Amerika is...Fuck Yeah Amerika!!!

Plus, who doesn't want to get long dong straight and strong going into Magical, bailout Monday??? 

Fri, 06/10/2011 - 15:21 | 1359074 carbonmutant
carbonmutant's picture

Properly manipulated markets will achieve climax....

Fri, 06/10/2011 - 15:29 | 1359101 slaughterer
slaughterer's picture

All of my shorts got stopped out on that lightning quick spike at 2:00pm.  Thanks Liesman.  The only thing I could do is lay on the same shorts again at 3:00pm.  Thanks Liesman.

Fri, 06/10/2011 - 15:33 | 1359122 hambone
hambone's picture

I'm cheering for you guys going short but I simply don't believe you will win...can win for long.  I'd be very happy to be wrong on this one.

Fri, 06/10/2011 - 16:59 | 1359502 Cdad
Cdad's picture

I'd be very happy to be wrong on this one.

You will be.

Fri, 06/10/2011 - 15:34 | 1359119 razorthin
razorthin's picture

If spx closes above 1280, the sell-off is over.  At which time there should be one more run to the upside for a few days/weeks before the big collapse.

Fri, 06/10/2011 - 15:41 | 1359153 gigeze787
gigeze787's picture

Its 3.35p ET, Mandy looks incredibly hot...and Morgan Stanley's mouthpiece (David Darst) is hyping 3.6% Q3 GDP growth and 4.6% Q4 growth.

Did I say that Mandy looks incredibly hot? Hot enough to keep my finger (or any other appendage, Mr. Weiner) off the "SELL" button.

Brings new meaning to "stick save".

Fri, 06/10/2011 - 15:42 | 1359176 Iriestx
Iriestx's picture

15 minutes to get this pig above 12,000.

Fri, 06/10/2011 - 15:49 | 1359208 rubearish10
rubearish10's picture

Maybe the pig makes a tiny squeal just under 12k. It's apparent that we'll be getting a sizable Bazoink in the very near future!

Fri, 06/10/2011 - 15:54 | 1359219 Translational Lift
Translational Lift's picture

These a-holes got their timing off....if they pulled this at 3PM instead of 2PM they might have pulled it off.....

Fri, 06/10/2011 - 15:59 | 1359231 slewie the pi-rat
slewie the pi-rat's picture

no lipstick needed.  after the stick save, rebound.  slap shot from the blue line:  he scoooored!    ouch!    LOL   slapstick!

Fri, 06/10/2011 - 16:06 | 1359266 dcb
dcb's picture

boy, you think the fed does watch the market and notice that we breached an important average so they announced something. Boy!!!


end the fed!!!

Fri, 06/10/2011 - 16:11 | 1359273 dcb
dcb's picture

OH, and as I have amost always pointed out on ZH every week there is usually a trading rush at 14:00 to about 15:30. wondering still what cumulative returns are if you trade this. my expeience watching is it is large.

Fri, 06/10/2011 - 16:37 | 1359396 flyr1710
flyr1710's picture

this type of news/action is reminiscent of 2008

Fri, 06/10/2011 - 16:41 | 1359440 rocker
rocker's picture

Me thinks their plan failed, Dow: 11,951.    Phony scams from CNBC of someone, (undisclosed because they did not want to be revealed, LOL), that the banks would get to leverage up again without required reserves Backfired.

Seems that the notion will hurt the market more. Who can trust them again if they can rinse and repeat the last crash.

Sat, 06/11/2011 - 07:22 | 1360867 swissinv
swissinv's picture

Posting OTC derivatives to an exchange means that they're going off-balance sheet and no capital requirments have to be considered anymore -> sure the regulation is long overdue but this has to be very carefully implemented.

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