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Frontrunning: March 12
- Built on a lie - the fundamental flaw of Europe's common currency (Der Spiegel)
- It has been a while since we had a Greece rumor: EMU States near €20-25 billion Greece aid accord (Market News. Banking News)
- Germanry and France have decided that Greece needs €55 billion until the end of the year to prevent insolvency (Euro Intelligence, h/t Paul)
- No snow in February - Retail sales in US rose in February (Bloomberg), so did credit card chargeoffs
- IPO window still weak despite melt up: AVEO raises 23% less than sought in first biotech IPO of 2010 (Bloomberg)
- Not so lonesome doves: Janet Yellen to be next Fed vice chair (Reuters)
- Goldman's biggest hedgie departs (Barron's)
- Another market top signal: KKR to move stock listing to NY from Amsterdam (Bloomberg)
- "Invisible Power" of London money exposed as mayor fights back (Bloomberg)
- Is America's foreign-owned debt a threat to the national economy (Forbes)
- A new chapter in bankruptcy (NYT)
- Why Wall Street hates Elizabeth Warren (Newsweek)
»
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Retail Sales up, only after January was revised down.
Can't wait to see how much February is revised down to make March's initial number look good, since all we really care about are MoM comparisons.
"Chinese Minister insists Google obey the law".
http://finance.yahoo.com/news/Chinese-minister-insists-apf-3974845791.ht...
"You're not in America!"
After meeting with Papandreou, Ackermann spoke by phone with Jens Weidmann, an advisor to Chancellor Merkel. To solve its problems, Ackermann said, Greece would need €15 billion in loans. How, he wanted to know, would the German government feel about a consortium of private banks and government institutions, like the state-owned bank KfW, dividing up the amount? Deutsche Bank, he added, could manage the deal.
But Weidmann rebuffed Ackermann, arguing that the deal he was proposing would not only have violated the European monetary treaties, but it would also have reduced a large share of the credit risk of the participating commercial banks -- at the expense of German taxpayers. "Under those circumstances, we might as well have issued the loan ourselves," German government representatives said indignantly.
Instant classic. Too bad there aren't many in positions of authority here in the US that subscribe to the notion.
Why don't the Germans just come out and say: "Greece if we give you the money we will never get it back so go F@#$ yourself!"
Elizabeth Warren would but she just gets the horrid frustration of overseeing TARP and battered by the bankers. If I had my way, I would dump this entire government and make her Queen, yes, Queen Elizabeth of the United States, with full ruling power. She can set up a parliamentary system with campaign financing limited to gas mileage. All current lobbyists will become Wal-Mart greeters for life. I'm just getting started.
You really are back in full. :-D
I had thought the lobbyists would be better employed wearing the orange jumpsuits and reflective vests as they work along the nations highways and byways in more productive employment. Let grandma get that big Wal Mart gig.... I hear ya, although I have my personal preferences....
http://www.youtube.com/watch?v=QzIT67dBkSc
Brilliant--the Libertine! And you are correct--grandma should be able to keep her job. How about a compromise? They have to wear the corporate logos of those they lobbied for on their orange suits.
My counter is that since the memories of who they lobbied for will move rapidly into obscurity how about a readout flash along like one of those obnoxious interstate lighted signs as to their current level of indebtedness to society? Let them work, live, commute, shop and do everything else within society wearing that jump suit with the flashing numbers scrolling along at all times.... After all, that's how the lobbyists, their politicians and the leaders of finance see us.
That's a totally acceptable option--but they have to wear a solar panel on their head as the energy source....
Suddenly I have images of DEVO and Whip It playing in my brain!
Agreement. Heh
http://www.youtube.com/watch?v=Mk0xmCZQWmk
Geithner Implicated in Lehman Accounting Fraud
http://www.nakedcapitalism.com/2010/03/ny-fed-under-geithner-implicated-...
retail sales up with the whole eastern seaboard under 2 feet of global warming "hot snow".for half the month??.Yep why just fib make it an outrageous mother of all lies ..steve Liesman has tingles up both legs today. Things must be much worse than even a bear like myself thinks .very scary that they are this desperate
-seems the market is not so impressed but the PPT is late most days..carry on repeat same..
retail sales up? so are credit card defaults?
maybe more and more are maxing out the cards then walking away.
-disclaimer: I don't believe any official numbers
Don't know if ZH caught this one, but the appears the entire drop in credit card debt was from banks writing off the debt and not from consumers actually paying off anything:
http://www.fundmymutualfund.com/2010/03/almost-entire-drop-in-2009s-cred...
As for
I see your "icon" as a day trader versus an HFT bot fight. Very funny.
+1.. And it's so true too!
"The economy is starting to accelerate," "The snowstorms couldn't keep consumers away from the cash registers and neither could the constraints imposed by tightening credit card terms and near double-digit unemployment"
You have to laugh reading some of this nonsense...
But the snow could sure keep the workers at home, deepening unemployment. Maybe they were out shopping…
They were all home, shopping on eBay and amazon.com.
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