• Knave Dave
    05/23/2016 - 18:16
    This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve...

Frontrunning: September 3

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Thu, 09/03/2009 - 09:00 | 57251 Danz Gambit
Danz Gambit's picture

Bomb blast outside the Greek stock market.



Hmmmm, is domestic terrorism towards financial institutions beginning? 

Thu, 09/03/2009 - 09:00 | 57252 Hephasteus
Hephasteus's picture

That bloomberg article is hilarious. I guess when Bernanke decided he wasn't going to allow the banks to fail he didn't think about them running around looking absolutely rediculous as a side affect.

Thu, 09/03/2009 - 09:21 | 57269 rigger mortice
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Thu, 09/03/2009 - 09:05 | 57254 Ivanovich
Ivanovich's picture

What is the latest on the FASB Mark to Fantasy change back?  Last I heard, they were meeting at mid August to ponder a return to M2M standards, but that banks were lobbying big time against it.



Thu, 09/03/2009 - 09:11 | 57258 deadhead
deadhead's picture

the mark to market (fasb fas 157) you refer to is not likely to change for some time and from what i read and hear, FASB is not pushing due to the whipping they got from Congress.  The issue that is hot and that the banking lobby is freaking out about is the FASB FAS 166 and 167 changes that have already been approved that requires bringing off balance sheet fecal matter back to momma balance sheet commencing Jan 2010.  the fdic is seeking comments now as to how to handle the matter of increase capital requirements due to this change.

Thu, 09/03/2009 - 10:49 | 57408 Ivanovich
Ivanovich's picture

Cheers, deadhead.


So the crap will come back to the balance sheet, but will still be marked at 100% value, or whatever the bank wants it marked to, is my understanding of your response.

Thu, 09/03/2009 - 09:14 | 57264 curbyourrisk
curbyourrisk's picture

FASB was castrated by the .gov.  Their balls are on display in Barney Frank's office for our amusement and his pleasure.

Thu, 09/03/2009 - 09:06 | 57255 deadhead
deadhead's picture

B'berg headline: "Jobless claims higher than expected (Bloomberg)"

CNBC headline: "Jobless Claims Drop, But Employment Picture Still Murky"


I love this shit....!

Thu, 09/03/2009 - 09:14 | 57263 somethingisrotten
somethingisrotten's picture

The Green Shiiits are taking hold!  What next, Green Projective Vom___ing???

Thu, 09/03/2009 - 09:21 | 57266 matthylland
matthylland's picture

yahoo finance's headline was completely different also...I was going to copy and paste it, but they changed it.

Thu, 09/03/2009 - 09:37 | 57297 JohnKing
JohnKing's picture

AP = captured entity

Thu, 09/03/2009 - 09:23 | 57271 rigger mortice
rigger mortice's picture

'The world economy is headed for an earlier recovery than previously forecast, although the pace of the rebound will likely remain modest for some time to come, the OECD said Thursday.

The Paris-based watchdog of industrialized nations said recessions this year in Japan and the euro zone will be less severe than the organization forecast in June, while the outlook for the U.S. is stable.'


they've obviously been loading up on swiss/austrian bank shares.

Thu, 09/03/2009 - 09:30 | 57280 Anonymous
Anonymous's picture

By far, the most appropriate headline of the day:

Quebec's pension fund risk manager is on sick leave


(sorry, link is in French only)

Thu, 09/03/2009 - 09:45 | 57311 SWRichmond
SWRichmond's picture

The Bloomberg / Weil piece is another classic.

Thu, 09/03/2009 - 10:40 | 57393 Anonymous
Anonymous's picture

"A U.S. judge refused to dismiss a lawsuit against Moody’s Investors Service Inc. and Standard & Poor’s, rejecting arguments that investors can’t sue over deceptive ratings of private-placement notes because those opinions are protected by free-speech rights."

That is too funny.

Thu, 09/03/2009 - 13:51 | 57445 iknowNOW (not verified)
iknowNOW's picture


<remaining content removed by Sacrilege>


Thu, 09/03/2009 - 11:44 | 57486 Brick
Brick's picture

The Cleveland Fed report shows a conservative estimate that public debt will reach 76% of GDP. Once it goes over 60% and there is no evidence that deficits will be curtailed then the bond vigilantes will speak. This pretty much guarantees whether there is a recovery or not that either all bailout and stimulus will have to end with taxes having to rise or the bond vigilantes will speak.

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