• OTC Derivatives: Is the DTCC Too Big To Fail?
    rc whalen
    02/09/2010 - 08:06
    At our firm we frequently receive calls from clients and readers asking about the likelihood of the passage by the Congress in Washington of reform legislation regarding over-the-counter (OTC) derivatives, financial regulation and/or mortgage securitization. Our answer is small to none given the political trends and the state of the lobbies in Washington, most specifically the large bank lobby that protects the Sell Side monopoly in OTC derivatives and securities. The fact that Senator Richard Shelby (R-AL) is still apparently not comfortable with the entirely watered down House proposal to reform OTC derivatives, for example, tells you all you need to know. Stick a fork in it.
  • The Alarm Bells are Ringing
    madhedgefundtrader
    02/09/2010 - 07:22
    The rug may about to be pulled out from under the market. The onslaught of contradictory news coming out of Washington is wearing the market down. An exclusive interview with Andrew Horowitz of The Disciplined Investor.
  • Why Casinos Deserve Our Trust More than Banks
    smartknowledgeu
    02/09/2010 - 02:23
    Today, casinos have much more integrity in their business dealings than do banks. In general, casinos have more cash and more transparent business dealings with their clients than do banks. That's why it's so ironic that most large commercial banks, as part of their "moral code", do not allow private bankers to do business with casinos. It appears today, that the bankers got that one entirely wrong.

Frontrunning: November 12

Tyler Durden's picture
Submitted by Tyler Durden on 11/12/2009 08:58 -0500



  • The net expands: SAC Capital, Balyasny ex-analyst under probe in insider case (WSJ, Bloomberg)
  • Weil: Blankfein invokes god and man at Goldman Sachs (Bloomberg)
  • How do you know the Treasury Secretary is lying? Geithner stresses strong dollar's global role (Reuters)
  • And the final nail in the coffin's dollar: under pressure from a lying Geithner, China sets plan to let currency move higher (Globe and Mail, h/t Geoff)
  • KKR values Dollar General at 30x P/E in upcoming IPO, double Wal-Mart (Bloomberg)
  • IEA warns oil rise could derail recovery (BBC)
  • And speaking of, Wal-Mart says climate "difficult" (BBC)
  • The $787 billion flop: Americans know (IBD)
  • Debt is destroying the dollar (Real Clear Politics)
  • Obama meets Asian bankers who may call his loan (Bloomberg)
  • How credit raters fended off oversight from Congress and SEC (HuffPo Investigative Fund)
  • As China's economy grows, so do the skeptics (Minyanville)
  • 3Com option trades may have been more than "luck" before buyout (Bloomberg)
  • How the scapegoats escaped (NYT)
  • Obama needs more time to find Fannie, Freddie agency inspector (Bloomberg)
0
Your rating: None

»


by Ivanovich
on Thu, 11/12/2009 - 09:02
#128363

Re:  China's mumblings...from The Macro Man himself:

 

his old mates from China, where the market is all aswirl with talk that the authorities will soon countenance an adjustment in the exchange rate. In its recent quarterly report, the PBOC announced that it intends to "improve the exchange rate mechanism is a proactive, controlled, and gradual manner..."

ZZZZZZZZ. Perhaps this is different from the vrap that they've been spewing for the last year, but if so, the changes are marginal. Uncoincidentally, APEC finance ministers had a go overnight, and the Chinese are also confronted with the prospect of finger-wagging Americans and Europeans washing up in Beijing over the next few weeks. The PBOC comments look like a bit of pre-emptive ass-covering, nothing more.

by TumblingDice
on Fri, 11/13/2009 - 00:14
#129406

It had to be done eventually.

by Anonymous
on Thu, 11/12/2009 - 09:19
#128379

coffin's dollar = dollar's coffin?

by lsbumblebee
on Thu, 11/12/2009 - 09:40
#128396

It's morning in America. Time to bash gold and prop up the dollar.

by deadhead
on Thu, 11/12/2009 - 09:45
#128402

 coffin's dollar

by Zombie Investor
on Thu, 11/12/2009 - 09:46
#128405

Bob Janjuah has popped up again:

"Thanks to confusion, shortsightedness and anger, global markets are on course to be wiped out by a third -- if we're lucky, renowned bear Bob Janjuah says. If not, expect markets to fall by half."

http://articles.moneycentral.msn.com/Investing/SuperModels/markman-new-c...

by deadhead
on Thu, 11/12/2009 - 09:57
#128415

question:

 

Does the Fed have to file the SEC reports that show they own more than 5% of BAC, WFC, USB, COF, RF, STI, etc.  ???

 

Thanks in advance.

by lsbumblebee
on Thu, 11/12/2009 - 10:02
#128422

Better still, do I get to claim General Motors as a deduction on next year's income tax statement?

by economessed
on Thu, 11/12/2009 - 10:23
#128444

This is brilliant.  It leads me to contemplate listing FNMA, FMAC, Citicorpse, Chrysler and a number of other failed parasites as dependents on my income tax.  I could go from "1" to at least "15" -- there's my piece of the stimulus!

by Anonymous
on Thu, 11/12/2009 - 10:02
#128421

Can one of you guys in the know tell the rest of us WHY Geithner would be lying about keeping a strong dollar? I mean, doesn't everybody know that everybody knows that the market sets the value of the dollar? Or, by lying, does Geithner figure he can borrow 10% more renminbi today than he would be able to if he told the truth? And that's such a thin game, wouldn't the Chinese and everyone else see through it?

by Careless Whisper
on Thu, 11/12/2009 - 10:23
#128443

Bloomberg:

Lloyd: "a force for good" = not kidding

Lloyd: "doing God's work" = just kidding

Lloyd <==== me loves. kiss. kiss.

 

by monmick
on Thu, 11/12/2009 - 10:39
#128470

Here are the top headlines this morning on CNBC's website.

Obama Unveils Plans To Hold Jobs Summit in December

US Will Borrow Less as Banks Pay Back Funds: Geithner

TARP Payments To Be Used To Lower Deficit: Report

30 Year Mortgage Rate Falls Again; Lowest In Five Weeks

No Near-Term Inflation Threat: Fed's Plosser

Anyone think there is a concerted strategy in advance of this afternoon's 30yr auction?

Oh yeah, and the US$ index is up half a percent...

by deadhead
on Thu, 11/12/2009 - 11:20
#128538

The United States Treasury Secretary, Timothy Geithner, is a filthy rotten LIAR.

by Comrade de Chaos
on Thu, 11/12/2009 - 11:38
#128561

Just found a priceless headline:

 

"Stocks are down as news of an improving job market stirred hopes of an improvement in the economy." - AP

 

LoL

by lsbumblebee
on Thu, 11/12/2009 - 12:00
#128589

No kidding. I get a kick out of reading Associated Propaganda's financial stories. They seem to have a form letter for each type of report, and the "journalist" simply interchanges certain words to fit the topic. In this example, he forgot to change "down" to "up". Regis Philbin was probably on teevee so he must have been in a hurry.

by RozzertheDropsky
on Thu, 11/12/2009 - 12:02
#128592

All such headlines are intended for reading only while performing the Salamba Sirsasana (yoga headstand).

by monmick
on Thu, 11/12/2009 - 12:44
#128648

Maybe that is what the journalist was doing, so that up on the chart appeared to be down...

by Edna R. Rider
on Thu, 11/12/2009 - 11:58
#128587

I thought for sure AMD's price action could hold up the entire market today.  Weird.

by Anonymous
on Thu, 11/12/2009 - 13:42
#128725

PMI US Market Risk Index not getting any better

http://www.pmi-us.com/PDF/q3_09_pmi_eret.html

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