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Intraday Recap
Ahead of the FDIC's Failure Friday all is normal at the Fed - the policy to destroy the dollar is working, keeping equities cheap and generating a ripfest in bonds (that bonds and equities are both going to the moon is nonsensical, matters not). For some reason WOPR hasn't confused what the VIX is supposed to do, and it is tracking the market 1:1.
Retail investors confuse the dollar weakness with stock strength and are buying a few hundred shares here and there, only to be promptly front run by the fine folks at the southernmost tip of Manhattan.
Ben - what happens when the dollar hits 0?
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You'll still get one dollar for one dollar.
Over/under on banks to get closed tonight is 3.
Place your bets.
I go high... say 11.
Got a feeling about this 10 or more
Under but it'll be a biggie.
one big one. (I'm looking at you, Corus bankshares...)
Leave me alone! I already gave shareholders a special dividend right when things started looking bad. I tried to rip off FDIC as much as I could!
That's the one I had in mind too. And maybe one or two tiny regionals in Illinois some mid-western State. That's provided Georgia still has banks left to go under LOL
FDIC was at Guaranty Bank this week. Just a friendly visit, I'm sure. "Hey guys what's going on?"
#20931 here.
I wouldn't read too much into that. The FDIC, which normally visits banks once a year has been returning to a large number of banks for a second round. My guess is they are building a system wide stress test model to build support for "RTC 2.0"
I played around with the FDIC's Q2 numbers recently and when you add in all the interest reserves being accrued by the small banks and regionals, there are almost 3000 banks with Texas Ratios above 100, if they accounted for their loans correctly. All aboard the fail boat.
Disclosure- Short banks, long guns and ammo.
10
I say ; BOA, GS, C, MS, JPM & WFC.
Who am I kidding??? Plus GS is not a bank, heeehe, Yeah it is. Or it's not, it all depends if it is to get money or to lower risk level, To get money is a Bank, to lower risk is not.
I think FDIC could be out of reserves if Guaranty (GFG) and a few more bite it tonight.
Guaranty bank article from CNN
http://money.cnn.com/2009/07/31/news/companies/guaranty.headache.fortune...
All of them. :)
Bank holiday in the works. So do they slow down the FDIC closures before then, or plow ahead?
I say 6 or 7 today. But FDIC is running out of money aren't they? Run the presses!
4.5
"Ben - what happens when the dollar hits 0?"
Check your local PBS station for showtimes of the "Big Ben Roadshow", where he answers all questions, just like you've seen him do before Congress.
Ben: then we will have finally beat this nasty bout of deflation!!
Summer rally now Fall fall later...
Radio GS - HFT data pipe converted into music. Now you can hear 85 Broad sucking up the money too. :-)
http://www.djtimes.com/insider/track/2009/6-24/freetrack_article01_b.htm>
What's the spread on Bush's failed bank count beats Reagan failed S&L count?
Hey stupid liberal, Bush is not the president. We have that communist dude.
As you are well aware, Bush chastized Congress every single year he was in office for the blatant 'Houses for Votes' scam that Barney Frank and Chris Dodd ran shamelessly through Fannie and Freddie and eventually all the lenders.
So his "ownership society" wasn't about people owning houses? He should have picked a better name.
I think this current Admin is way off track right now, but let's remember that this bubble inflated, burst, went to hell, and was greated with gigantic bailouts all on the last guy's watch.
Sure, but he had the SACK not to go around blaming the LAST bubble the popped on his watch (tech) on his predecessor when it inflated ENTIRELY on his watch.
Presidents dont single-handedly inflate bubbles. Clueless idiots do. You're a faggot.
Random homophobia. You must truly be one of the 12 remaining Republicans!
no, seriously. you suck cock. you have to with pussy ass snide little remarks like that.
bwahaha, Friday!
Watch your language. We run a clean board here. If you keep it up, I'm gonna have to give you the bag over the head treatment.
Q - Who was it that did TARP and the rest of that alphabet soup mess?
A - It really does not matter. They both do the same thing.
Gentlemen, the Dems vs. Reps BS is just another distraction. They are all crooks, 90% of them. Like 4 weeks of Michael Jackson dying, like the stupid Harvard guy/cop race thing, anything to keep you from seeing the next trillion slip out the back door, from that being the headline. Dems/Reps is like Sox/Yankees- hey it's OK if the guy is an asshole, he's our asshole. Just one more shuck and jive.
Keep your eyes on the prize.
9 to 2
But Tyler, the answer is right there......top left hand corner...."Click for explanation"....
all that happens is it triggers a request-for-help email to help4u@sec.gov. what's really strange is that you get an automated out-of-office reply back with a hastily composed message about "being on vacation for a while." odd.
S&P just under the magic 1,000... End of the month... What a perfect lure for the lot of greater fools.
I agree. I think based on some charts the strategy is to push the S&P to between 1,000 and 1,033, then have a correction to 950 and then up to 1,100. The idea would be to unload on fools in the way to 950 and then have them do the final push to 1,100. No wonder GS and JPM have the 1,100 target and they are all calling the end of the recession... The idea is to generate a "panic buying" leg up to 1,100.
and don't forget about the squeeze....
Mmmm I tend to think the squeeze is over (although there might still be one left, the one that would the push to 1000-1033.
What I did forget was... the mainstream media blitz this weekend celebrating the end of the recession.
It seems incomprehensible that there would be professional money managers with huge pools of capital still sidelined, who are familiar with market behavior, and who would trust this POS long at this point.
Yawn TD! Change the record.
Yea he must be REALLY boring and "uninformed" for you to come here....nice one jackass.
mark to market coming back?
http://business.theatlantic.com/2009/07/mark-to-market_is_back_--_with_a...
I hope so
Nice link, thanks
I'm in for 4 bank failures.
We have a winner!
If Goldman and the Fed push FAZ to zero, do bank stocks go to infinity?
That appears to be the plan.
17 Banks go bust!
Oh boy! It does't look like the tape will be painted and have the SPOO hit the magic 1000 level in time for a big splash in this weekend's financial pages! Someone over at "THEM" headquarters is going to get fired for this.
USD barely budging
pukefest into the close. goddamn i hate month end
I think it'll be Guaranty
why can't the chart scales stay somewhat consistent from one day to the next? Instead of showing the min-max of that one day in full scale? Wouldn't that put any graphed trends into better perspective?
OK, this pathetic noob gives up. What's WOPR?
The supercomputer from the movie "Wargames".
When the dollar goes to 0, we will put the cat out for the last time.