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Frontrunning: October 14

Submitted by Tyler Durden on 10/14/2009 09:10 -0400

JPMorgan reports better than expected results, loan losses increase (AP)
Japan bond optimism at 8-month high as growth prospects before second largest economy wane (Bloomberg)
China to curb steel production to reduce oversupply (Bloomberg, h/t deadhead)
Geithner aides reaped millions working for banks (Bloomberg, h/t donald)
Don't reinflate the old bubbles (WaPo)
Dollar slumps to 14 month low (Reuters)
The message of dollar disdain (WSJ)
"The financial system nearly collapsed because smart guys had started to work on Wall Street" (NYT)
A comprehensive look at the SoCal housing market. Say good-bye to option Arms (Dr. Housing Bubble)
China wants to rival Boeing, Airbus with its C919 "big plane" (USA Today)
Bloomberg scoops up BusinessWeek (FT)
Retail sales drop 1.5%, up 0.5% ex autos (AP)
Gallup: Christmas spending forecast down from a year ago (Gallup)
Kitchen worker receives AIG retenion bonus (FT)

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Wed, 10/14/2009 - 09:16 | 98572 Danz Gambit

Think I'll watch cnbc today. Once the Dow breaks 10K, I assume the entire studio will erupt in a collective orgasm.

Wed, 10/14/2009 - 09:33 | 98587 Gilgamesh

So, how many new jobs is JPM going to be hiring for now? And let's net that against how many layoffs they've had so far. Things are so much better now than pre-Lehman...

Wed, 10/14/2009 - 09:35 | 98589 mdtrader

JPM knocked it out of the park.

Wed, 10/14/2009 - 10:22 | 98648 Gordon_Gekko

Why does JPM even bother to post these so-called "results" anymore? It'll be much easier and save everyone a lot of time if they just hand out a picture of Benny boy operating the printing press.

Wed, 10/14/2009 - 09:37 | 98592 Mountaineer

It's already happening. It's like a freaking New Years countdown clock. We are getting "BREAKING NEWS: FUTURES UP BIG" "updates" literally every five minutes.

Wed, 10/14/2009 - 09:40 | 98594 Gilgamesh

Ghost, et al -

Any take on the action in the AMREITs (HTS, CMO, MFA, etc) the last two weeks? Decent selloffs, diverging from the market. Trying to watch them for a canary sighting. Hard to factor in how much, if any, is profit-taking around dividend time.

Wed, 10/14/2009 - 09:55 | 98605 Miles Kendig

In a world defined by worse, worserer and worserist it appears the current crop of numbers setters graduated from the Henry Blodget correspondence course.

Wed, 10/14/2009 - 10:12 | 98633 deadhead

Wed, 10/14/2009 - 10:05 | 98619 buzzsaw99

It is easy for JPM to post great earnings, they don't have to take their losses like a real stand alone not too big to fail and too small to own the federal reserve business does.

Wed, 10/14/2009 - 10:14 | 98635 Gordon_Gekko

"JPMorgan reports better than expected results"

I guess when you are backed by the printing press and all your accounting is FICTIONAL, you'll ALWAYS have results "better than expected".

Wed, 10/14/2009 - 10:21 | 98646 McGriffen

how does that Steve miller band song go in Chinese or Mandarin..."big ol jet airliner, carry me to my home"

Wed, 10/14/2009 - 10:33 | 98659 Gilgamesh

Has the Moody's report on Spanish Banks from yesterday been posted? If not, here's the WSJ summary:

Moody's Questions Spanish Banks Report Casts Doubt on Reserves for Bad Loans; at Least $160 Billion in Losses

http://online.wsj.com/article/SB125545053140882671.html

Wed, 10/14/2009 - 10:58 | 98704 Silver Bullet

A great article showing how much GE/NBC is benefiting from the shameful backing of Barack Obama during the campaign.

http://www.huffingtonpost.com/2009/10/13/tax-dodger-crackdown-shel_n_318841.html

Frontrunning: October 14

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