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Frontrunning: Tax Day

Submitted by Tyler Durden on 04/15/2010 08:39 -0400

Bond-fund fraud suits leaves auditor speechless: PwC joins the E&Y in the incompetent lineup (Bloomberg)
Goldman director in probe: prosecutors examine trades by Galleon in bank's shares as investigation widens (WSJ)
The rumors were spot on: Chinese economy grows 11.9%, highlighting threat of overheating (Bloomberg, Reuters)
New Basel restrictions blasted by banks who thing 100x leverage is perfectly acceptable, anything less and the "client" will suffer (Bloomberg)
More bad news out of PIIG land: Greece may cancel bond issue - "Athens now hopes to raise "up to $1 billion to $4 billion," compared with $5 billion $10 billion previously." (WSJ)
We need a Blankfein amendment (DealBook)
Behavioral economics—the governing theory of Obama’s nanny state (The Weekly Standard)
Leaders mull EU support tool, markets turn on Greece (Reuters)
William Cohan - The man who cost Merrill shareholders $50 billion (Fortune)
Talking down expectations of a rate hike (Brusuelas)
The United States it the new Europe (RCM)
The whistleblower they ignored (The Nation)

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Thu, 04/15/2010 - 08:42 | 301672 Careless Whisper

front-run this too. cramer's new show "mad friends". how to get more facebook friends.

http://www.youtube.com/watch?v=2LmAMa-SE8o

Thu, 04/15/2010 - 11:49 | 302130 Let them all fail

Gotta love south park.....funny episode all around but that was by far my favorite part

Thu, 04/15/2010 - 08:48 | 301685 dumpster

get a free taco at taco del mar . Free Starbucks, but bring your own cup.

tax day musings

Thu, 04/15/2010 - 08:55 | 301696 Alex Lionson

By the way, Tyler, could you please say a word on Greece's appeal for clarification of the bailout mechanism? Is it a declaration of a default in fact?

Thu, 04/15/2010 - 08:57 | 301706 crosey

Got a question for you wizards out there. In our current market state, would a 5-1 reverse split of an inverse ETF be a good thing; or would it be merely a setup to give the inverse ETF more room to bleed down?

Thu, 04/15/2010 - 09:02 | 301718 Careless Whisper

none of the above. irrelevant.

Thu, 04/15/2010 - 09:13 | 301747 crosey

Thanks.

Thu, 04/15/2010 - 09:03 | 301719 ZackAttack

Due to the nature of time decay in those products, one would be well-advised never to hold one long enough for a split to be relevant.

Thu, 04/15/2010 - 09:12 | 301742 crosey

Thanks. So what is the benefit of these products? How would someone use an inverse ETF successfully?

Thu, 04/15/2010 - 09:25 | 301795 ZackAttack

Its best use is as a daytrading instrument only.

Over anything other than the very shortest timeframe, it doesn't remotely track any kind of benchmark index.

Thu, 04/15/2010 - 09:39 | 301821 crosey

Thanks.

Thu, 04/15/2010 - 09:14 | 301751 williambanzai7

OF RATS AND THE GOP:

http://williambanzai7.blogspot.com/2010/04/what-document-are-all-good-re...

Thu, 04/15/2010 - 09:24 | 301788 HarryWanger

Futures should be getting smoked this morning with Industrial Production/Jobless Claims/Foreclosures at record high. Oh, that's right, when the news is bad, it's good since the Fed can't raise rates. Just how it works these days.

Thu, 04/15/2010 - 09:54 | 301857 Sisyphus

Are you the same Harry Wanger from TBP?

Thu, 04/15/2010 - 09:45 | 301840 economessed

"Tax Day" is only marginally different than "Attacks Today." And speaking of attacks, what stock has any measurable short interest? Let's attack those bear clowns and drive the valuation up by 13%!

Thu, 04/15/2010 - 09:48 | 301845 seventree

This just in: Israel preemptive attack on heart of US economy

http://www.washingtonpost.com/wp-dyn/content/article/2010/04/15/AR2010041502023.html

Israil has banned all imports of Apple's hottest new product, the iPad, citing concerns that its wireless frequencies are incompatible with national standards...The blanket ban prevents anyone - even tourists - from bringing an iPad into Israel until officials certify that the computers are in compliance with local transmitter standards.

Thu, 04/15/2010 - 11:04 | 302024 Ripped Chunk

Pay up peasants! We need the money for the Iran campaign!

Thu, 04/15/2010 - 12:05 | 302177 dumpster

Pay up peasants! We need the money for the Iran

imf bail out campaign!

Thu, 04/15/2010 - 12:55 | 302296 jmc8888

Don't forget Obama is going to give the axe to NASA today.

Forget about the future Obama says, we don't need it.

We have private businesses who will take us back into space.

Except you realize that the best case with Virgin Atlantic has the most retarded looking cheap piece of crap launch vehicle on the planet. Oh yeah and they're doing stuff that NASA was doing in the 1950's.

Space is CLEARLY the case that GOV'T MUST act. Or else get ready for asteroid wars, but only after it takes us 30 years to get back to the 1960's.

Obama is a retard and a neo-con. That's the facts jack.

Obama's INDEPENDANT panel, get ready to hear that one alot, says NASA was overbudget and years behind.

Well idiots in the independant panel, when you don't fund something, it tends to get behind.

THen when you have to start years later, in the fed's crapatastic monetary system it costs MORE.

So Obama's guys are baiting and switching about it.

Neil Armstrong said this "Without the skill and experience that actual spacecraft operation provides, the USA is far too likely to be on a long downhill slide to mediocrity,"

But I disagree with Neil, I don't think it will take that long. I think we've already been there for a couple of decades, and it's about to get worse.

SO again my grandfather, born in 1898 saw man walk on the moon. I was born in 1978, it is now 2010, yes 2010, over 40 years after that landing, yet we've never done it while I was alive. How is this even possible? We're living in monetary world....that's how.

Obama you're a effing whore. Good thing I never decided to be an astronaut, and anyone who attended spacecamp in the 80's (not me) was surely screwed.

Frontrunning: Tax Day

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