Frontrunning: September 30

Tyler Durden's picture
  • A cynical must-read twofer from Bloomberg: Mystery of Disappearing Proprietary Traders (Michael Lewis) and Save Americans by Sticking It to Them (Jonathan Weil)
  • Someone gets it: Stocks are up only in terms of a declining dollar. In real terms, relative to gold, stocks have gone nowhere.  (Barrons)
  • Ireland faces "horrendous" bank bill, Spain downgraded (Reuters, WSJ)
  • Final bill for Anglo bailout at least €29.3bn (Irish Indepndent) as Lenihan warns Budget will be worse than expected (IE)
  • Pathetic farce of the day: AIG Announces Plan to Repay U.S. Rescue With Stock (Bloomberg) as nobody mentions yet that the CBO, OMB and Treasury project losses on the "aig investment program" in the amount of $36B, $50B and $45B; Taxpayers cant wait to get made whole fast enough
  • Japan and South Korea report output growth (FT), yet stocks are more focused on the 7K claims beat in the US
  • China Says U.S. Yuan Legislation Will Hurt World Economy (Bloomberg)
  • China says U.S. yuan bill could harm ties (Reuters)
  • Gold hits record high as investors eye U.S. policy (Reuters)
  • The Myth And Mistake Of Quantitative Easing (Forbes)
  • Many toxic waste threats are history but Superfund lives on (Reuters)