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I hope the LIBOR-OIS spread will keep going to Lehman levels.
In which case, we need a European Lehman to confirm the freeze of credit markets, again.
Interesting. SocGen came up on my company's "Euro-bank-at-risk" scan last week as well, among several others.
Good, thats what we need. One to take the fall for all of them, a la Lehman.
Okay regular folks and free loaders, I encourage everyone to hit the donate button and pony up a donation for more bandwidth and servers and whatever tech crap ZH needs to buy so the site doesn't go down. We all know the markets are only going to get more volitle and bizarre from hear on out. DONATE NOW!
I would if they had a payment method other than suck ass PayPal.
If they would post there address I would gladly send a personal check, or some of these nice FRN's, get em now before they lose there shine.
TD, are you reading this?
Uh, I believe ZH needs a google sized server farm next to a glacier lake with hydroelectric power.
Nice. The benevolent stewards of our economy are prudently using taxpayer money to buy Euros. Congratulations comrades, our future tax monies have juiced the Euro by 2 cents this morning. please call his honorable Bernanke and Giethner to thank them for acting as our fiduciaries in helping others in need.
Could be worse ... you could be paying taxes on both sides of the pond.
To be honest ZeroPower....I dont get it. Why do you want that? Talking your petty bet or schadenfreude?
Definitely not the latter (and yes i googled that). Maybe a bit of 'i told you so' to people who think everything is fundamentally sound; a bit of alpha too.
One might say, the CB-chiefs are sweating bullets?... or are they sweating fiat currencies?
Meanwhile, the afternoon zero-volume melt-up continues unabated - the S&P has already evaporated the entire post-open decline and is now flirting with a loss of "only" 2% when any reasonable reading of the news should result in yet another massive hit to the index.
The new-and-improved FedCo "PlungeControl 10,000" is holding up pretty well, so far.
It's like a broken record. Tyler & ZH says watch OIS/Libor. Brits are telling everyone on Bloomberg in the early morning, watch OIS/Libor. I've been screaming watch EURIBOR/LIBOR/etc.
Now CNBC is finally letting Santelli talk about it and the crap is hitting the fan. It's indicating a huge problem just as the 1-3-6 Treasuries have been warning for a year that this was not a long term bull market starting again in equities. This may not be the crash coming but the credit markets, as Tyler has been saying, are warning loud and clear that the fan is about to get splattered if the CB's don't get their acts together.
Yup, just how its been about 3 days in a row now hes been talking about the PM ETFs which dont have enough backing in physical..
For several days I have been warning of EURUSD buying support as detected by my indicators, and this has been confirmed by the recent break out.
The proprietary indicators I use can identify trend changes before they occur.
Just DONATED...suggest all chip in
UBS as the lowest? That's the funniest thing I've heard today. Shows you skepticism is warranted on Libor.
They can easily announce some kind of rumor and render all those puts they sold worthless by tomorrow morning. This is how the scam works.
There are no limits to SNB intervention...
For several days I warned of EURUSD buying support as detected by my indicators - and this has been confirmed by the recent Euro break out.
Dear Reggie, I am not surprised at all that Societe Generale came up in your own scan of major European banks that are currently in big trouble but I would also bet that (since I work with them, although on the real-estate side) BNP Paribas and UniCredit "made it" to your "big trouble" list. Not to mention Intesa Sanpaolo, reportedly stuffed with Greek (state) junk. Am I decently close to identifying a few of the other majors that could go through big shocks pretty soon on this side of the ocean? Best wishes to all ZH users and creators from Rome.
Any particular reason you drew the line there, or was that when you realised that drawing attention to 2 of the only AAA cast iron safe banks in the world made you look like an idiot?
Maybe the guys putting high numbers in are just telling the truth and the others are lying? Or maybe the whole thing is a joke, since there's no unsecured lending going on anyway...??
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