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Frontrunning: February 16

Tyler Durden's picture

  • From Prison, Madoff Says Banks ‘Had to Know’ of Fraud (NYT)
  • Rising Chinese wages pose relocation risk (FT)
  • Bahrain protesters take over key junction (FT)
  • Fisher Says He May Prefer Treasury Sales as First Step for Fed Tightening (Bloomberg)
  • Banks Push Home Buyers to Put Down More Cash (WSJ)
  • Borders Files Bankruptcy as Expense Cuts Don't Stem Losses (Bloomberg)
  • China's farm produce prices down last week (ChinaDaily) - weekly food prices are now Headline news
  • Brazil Dismisses Plans to Pressure China on Yuan (WSJ)
  • All You Need to Know About Why Things Fell Apart: Michael Lewis (Bloomberg)
  • And the joke of the day: Fed looks set to increase its forecasts (FT)
  • BHP Damps Acquisition Talk, Spending $80 Billion on Mines (Bloomberg)
  • As Austerity Cuts Bite in Portugal, Discontent Grows (WSJ)
  • Weidmann set for Bundesbank presidency (FT)
  • Not the time to meddle with money market funds (FT)
  • King's Term as BOE Governor to End Before New Bank Powers Come Into Force (Bloomberg)
  • France Seeks Input on Euro Pact (WSJ)

European Economic Data:

  • Euro-Zone 25 New Car Registrations for January -1.4%Previous -3.2%
  • Italy Current Account (mlns euro) for December -5382M Previous -5007M
  • UK Nationwide Consumer Confidence for January 47 lower than expected Consensus 50 Previous 53
  • UK Claimant Count Rate for January 4.5% as expected Consensus 4.5% Previous 4.5%
  • UK Jobless Claims Change for January 2.4K higher than expected Consensus -3.0K Previous -4.1K
  • UK Average Weekly Earnings 3M y/y for December 1.8% lower than expected  Consensus 2.0% Previous 2.1%
  • UK Weekly Earnings exBonus 3M y/y for December 2.3% as expected  Consensus 2.3% Previous 2.3%
  • UK ILO Unemployment Rate (3mths) for December 7.9% as expected Consensus 7.9% Previous 7.9%

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Wed, 02/16/2011 - 09:43 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Berine made off,

Behind bars...

Scoff, scoff


Nobody saw

But every-one



Wed, 02/16/2011 - 11:51 | Link to Comment velobabe
velobabe's picture

ORI, how come you didn't reply to my comment on your todays article? you commented to the other two, not me†

Wed, 02/16/2011 - 09:46 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

From Prison, Madoff Says Banks ‘Had to Know’ of Fraud

Of course there were others who knew, or should have known, that Madoff was a fraud. The art of the bigger Fed/Wall Street/corporate financial scam is profiting from smaller scams without being blamed for their ultimate failure.


But during a private two-hour interview in a visitor room here on Tuesday, and in earlier e-mail exchanges, he asserted that unidentified banks and hedge funds were somehow “complicit” in his elaborate fraud, an about-face from earlier claims that he was the only person involved.

Wed, 02/16/2011 - 09:54 | Link to Comment Careless Whisper
Careless Whisper's picture

Of course there were others who knew,

that's right. the SEC was told point blank a few times! they chose to protect him for ten years.

ya think jp morgan chase chemical bear stearns wamu thought somethin' was a little fishy with a checking account where billions come in and go out and there was no stock trades in between?


Wed, 02/16/2011 - 09:49 | Link to Comment hugovanderbubble
hugovanderbubble's picture

THLD (target 5$)

Threshold Pharmaceuticals Announces Agreement With the FDA on a Special Protocol Assessment for Planned Phase 3 TH-302 Combination Trial in Advanced Soft Tissue Sarcoma


REDWOOD CITY, Calif., Feb. 16, 2011 (GLOBE NEWSWIRE) -- Threshold Pharmaceuticals, Inc. (Nasdaq:THLD) today announced that the Company reached agreement with the U.S. Food and Drug Administration (FDA) on a Special Protocol Assessment (SPA) for a Phase 3 randomized trial of TH-302 in patients with soft tissue sarcoma. This pivotal trial is expected to begin in the middle of 2011, and will enroll patients with metastatic or locally advanced unresectable soft tissue sarcoma who have not previously received chemotherapy outside the adjuvant or neoadjuvant setting. The trial is designed to evaluate the efficacy and safety of TH-302 in combination with doxorubicin, compared to doxorubicin alone.

"With this SPA, we have reached agreement with the FDA on the key features of our Phase 3 trial design that will be necessary to support the registration of TH-302," said Stewart Kroll, Threshold's Vice President, Biostatistics and Clinical Operations. "The proposed trial is designed to confirm the encouraging results that we have previously reported in our ongoing Phase 1/2 trial of soft tissue sarcoma patients treated with TH-302 in combination with doxorubicin."

TH-302 Clinical Development Rationale and Strategy

TH-302 has been investigated in over 400 patients with cancer as part of five clinical trials. The TH-302 clinical development program includes an ongoing Phase 1/2 trial in patients with soft tissue sarcoma. As presented at the Connective Tissue Oncology Society meeting in November 2010, fifty-four patients had at least one evaluable post-treatment tumor assessment and 18 of 54 (33%) had a partial response. The median progression free survival was 6.4 months (95% confidence interval: 5.6 to 6.9 months). These data formed the basis for the proposed Phase 3 study of TH-302 and doxorubicin compared to doxorubicin, as covered by the SPA.

In addition, Threshold is pursuing additional clinical trials in patients with solid tumors as well as hematologic malignancies. TH-302 is currently being evaluated in a Phase 2 randomized, controlled combination trial in patients with metastatic or locally advanced pancreatic cancer as well as a Phase 1 open label, monotherapy trial in patients with advanced leukemias.

About the Phase 3 Sarcoma Trial

The Phase 3 trial will be a 450 patient, randomized, open-label, multi-center trial comparing two treatment regimens for patients with metastatic and/or advanced unresectable soft tissue sarcoma who have not received prior doxorubicin. This trial is designed to demonstrate the clinical benefit of TH-302 in combination with doxorubicin compared to doxorubicin alone based on a primary efficacy endpoint of overall survival. The trial includes an interim analysis based on progression-free survival expected to occur about half-way into enrollment and an interim analysis based on overall survival expected to occur at the end of enrollment. Patients will be randomized to receive TH-302 (300 mg/m2 on days 1 and 8 of a 21 day cycle) in addition to the standard dosing schedule of doxorubicin (75 mg/m2 on day 1 of the 21 day cycle) compared to doxorubicin alone. The Company plans to commence the trial in the middle of 2011.

About Soft Tissue Sarcoma

Sarcomas are a group of aggressive cancers of connective tissue of the body for which there are currently limited treatment options. Soft tissue sarcomas are treated with surgery, chemotherapy and radiation. Usually a combination of these modalities offers the best chance to treat the disease successfully. Doxorubicin and ifosfamide are the most commonly used chemotherapeutic agents in patients with advanced soft tissue sarcoma, but response rates are generally low and toxicity can be significant. The American Cancer Society estimates that 10,520 people were diagnosed with a soft tissue sarcoma in the United States in 2010, and approximately 3,920 people died from the disease.

About Special Protocol Assessments

A Special Protocol Assessment is a written agreement with the FDA on the design and planned analysis for a clinical trial. It is intended to form the basis for a marketing application and may only be changed through a written agreement between the sponsor and the FDA, or if the FDA becomes aware of new public health concerns.

Wed, 02/16/2011 - 10:16 | Link to Comment Careless Whisper
Careless Whisper's picture

You're Not In Jersey Anymore

Connecticut Governor Proposes Big Tax Increases

Haircuts Will Be Taxed; Income Tax Going Up



Wed, 02/16/2011 - 10:22 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

Fisher Says He May Prefer Treasury Sales as First Step for Fed Tightening

To whom and at what price/yield?

Wed, 02/16/2011 - 11:31 | Link to Comment alpds
alpds's picture

Michael Lewis applying to work for JP? Did I read that right? No wonder the article is such a fluff!

Read 13 Bankers for a more honest explanation of the crisis. 

Wed, 02/16/2011 - 13:12 | Link to Comment I Am The Unknow...
I Am The Unknown Comic's picture

Hey what do you know...there's something on CNBC worth looking at today:

Interesting picture.  I wonder if Alan has AIDS yet? 

Wed, 02/16/2011 - 13:24 | Link to Comment gall batter
gall batter's picture

Opening soon at a comedy club near you:  Bernie Madoff.  A standup guy.

Wed, 02/16/2011 - 13:59 | Link to Comment jmc8888
jmc8888's picture

Michael Lewis is a fucking tard.  It was the removal of Glass-Steagall (and thus what they started once it was repealed)

Michael Lewis, bankster cocksucker.  Nothing wrong with the format he says, and since everyone was doing it, no one was guilty? What a fucktard.

It was the repeal of Glass-Steagall

Everyone knew it.

Just goes to show you even complete morons in this fucked up system make over 100 million, and still not 'get it'.  What a great system. Fucktards who know nothing, get rich.  This guy doesn't know how he made money, nor how making that money destroyed the world.

It wasn't shifting demographics, china, nor the tooth fairy, it was the greedy bastards who had what we currently had...all lined up...just needed the repeal of Glass-Steagall (I remember my hs gov't teacher telling me JUST THIS in 1995! Note: It was repealed in 1999.)

So when we repealed it, the fucktard that were worth oh so much more (not for any real reason mind you) they gamed the system from the get-go, and in fact were gaming it illegally BEFORE the repeal.

But 100 million dollars doesn't buy much brains these days, does it?

These assholes are so oblivous, that even one who is trying to come out to the light, is still mired in darkness.  It was FRAUD, not any other bullshit.  It was FRAUD.

Glass-Steagall will wipe away that fraud. No need to talk to 100 million dollar disphit man for his idiot ideas of what didn't happen, but sounds good and plausible to some mental sloth reject from 2005.   But that's not the world in 2011 is it?  Idiot.

Glass-Steagall...the removal was the basis around which the cause of the crisis was created...and the reenactment (in full 1933 form) will be the solution of.

100 million dollars obviously doesn't buy one common sense.

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