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might be another eurusd rally coming like this morning when Ireland got downgraded....
stay short that gold !!! HELP JPM!!!!!!!!!!!!!!!!!!!!!!
PPT issuing RED ALERT!!!!
HELP JPM< SHORT GOLD< SHORT SILVER....steam seeping out the side of the Comex
So??? More Ouzo !!! OPAH !!!
Priced in. Afternoon Ramp job will commence at 3pm EST. All Aboard!
Quite a struggle with that ramping so far, and volume sucks as usual. Not much selling will happen with these parameters.... but there is 25 minutes left. Weirder things have happened.
The PPT is going to blow a gasket with any more bad news today. Keep it in the green at all cost!!!!!!!
"Hypo Real Estate didn’t pass a stress scenario on its capital that assumes an economic slowdown and sovereign-debt losses, said the people, who declined to be identified before an announcement on July 23. An official at Munich-based Hypo Real Estate declined to comment."
But come on! Let's be fair. Just how likely are any of those two scenarios?
About as likely as US home prices not rising.
Jesus, look at all the jets being bought.
The German government's bank rescue fund says a "bad bank" has been set up for nationalized lender Hypo Real Estate Holding AG, which plans to offload troubled assets nominally worth up to euro210 billion ($265 billion).
The fund said the vehicle, officially dubbed an "unwinding institute" and named FMS Wertmanagement, was established Thursday.
Hypo Real Estate plans to offload non-strategic assets and risk positions into the government-guaranteed vehicle during the year's second half.
Maiden Lane finally found a hot german boyfriend.
OT: PHYS is being beaten like a rented mule.
Firstly, a complete farce to have the test where everyone passes. I guess the bar must have been set very low. This fact makes the credibility of this stress test results even more dubious and will not have a lasting positive effect on the markets.
Secondly, its not the banks that need a Stress test anymore, as their governments have basically cleaned up the banks BS by taking on all their spoiled goodies, its the country that needs to be tested.
OT, but volume and volatility seems very low for a Monday after equity options expiration even for this time of the year.
Non event. Hypo is already government owned. Who cares ???? Tomorrow GS earnings - that´s what I care about ! :=)
i'm a german tax-payer, so well, I CARE! ^^ billions of euros from the government and still not able to pass that ridiculous "stress" test... wtf?
i would say the market right now is constipated. the PPT keeps feeding it too much dairy.
oh wait ....i think a bowel movement might be approaching! get some ultra short etfs
Mais, non! Il est fois gra!
Is Hypo still owned by the German government?
If it is, then why the "stress test failure" even matters? As we know from Fannie/Freddie, the Government will use its funds to recapitalize the state-owned bank. Otherwise the "failure" of Hypo would mean the failure of the entire Germany!
"Is Hypo still owned by the German government?"
"If it is, then why the "stress test failure" even matters?"
who says that it matters? It doesn't.
Nationalize the fscking thing. Shareholders mark it zero; bondholders take a massive head wound; management is all fired; bankers are government employees and are paid on an appropriate scale. Sell the assets over time, recapitalize it, spin it out as a public company.
Wash, rinse, repeat. To those who say this would lead to the "politicization of banking," I would point out that we've already got the bankification of government and we *know* that's horrible.
Jesus an De Jets. Here are the Jets an there's the Cash. Just like that. Business is booming, everything is fine. Come to Dubai before its all gone. Hurry!!
How do you fail a rigged test? They're just testing the waters....letting you get used to the idea of bank collapse in the EU. In the U.S., all the banks passed the rigged test. The difference is simply political agendas.
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