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Merrill Demanding More Collateral From Hedge Fund Clients Today

Tyler Durden's picture


More market rumors of forced liquidations, this this coming from your favorite bailed out bank. If we get more we will post it.


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Fri, 05/21/2010 - 08:12 | 365318 cbaba
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Fri, 05/21/2010 - 08:16 | 365319 MyFriendMises
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2008 Redux.  If we thougth the banks were TBTF what will happen if some of the ultra leveraged Hedge Funds start coming apart.

Cue REM:  "It's the End of the World as we know..."

Fri, 05/21/2010 - 08:22 | 365324 fallst
fallst's picture

CDS Margin Call Victims.... Don't Pay. Let Them Sue. Daylight will Sterilize Later. If they Extort with Ratings Threats, Sue the Ratings Agency. There. See, You don't need those "White Shoe" Boys!

Fri, 05/21/2010 - 10:17 | 365594 John Self
John Self's picture

Those positions are already mostly collateralized.  So waiting for them to sue isn't really an option -- they'll just terminate the agreement and liquidate your collateral.   To the extent they're undercollateralized, then you're right -- they're probably screwed, because it's heading toward a run on the bank scenario (which is basically what always happens when derivatives are involved in a failing company -- see Lehman and Enron as examples).

Fri, 05/21/2010 - 08:21 | 365326 John McCloy
John McCloy's picture

  I  knew it was only a matter of time before the dip buyers learned a lesson that would not soon forget. Pushing in leveraged long SOLELY because you have seen a rally day after day after day with economic fundamentals that tell me we are in a modern depression was always not worth the risk of just following momentum. Zero Hedge tried to point it out numerous times that volume was the key. For me Volume is a polygraph and a reliable one at that. 

The only real buying came in July and the massive rally was predicated on a gargantuan short squeeze. Well the Wiley Coyote just looked down folks.

Fresh dilution coming big banks way.

Fri, 05/21/2010 - 08:54 | 365397 mikla
mikla's picture


Fri, 05/21/2010 - 09:09 | 365419 sumo
sumo's picture

When I watch the SPY volume on down-ticks, for some reason I think of a Mike Tyson punch.


Fri, 05/21/2010 - 12:27 | 365901 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

Heading to 'bolivian'

Fri, 05/21/2010 - 08:21 | 365329 RicktheDick
RicktheDick's picture

Let the spiral begin. With widening spreads and no buyers it becomes a self-fulfilling prophecy.

Fri, 05/21/2010 - 08:33 | 365347 John McCloy
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  Yeah because post collapse Russia which has seen their borders shrink substantially because of losing the Ukraine and much of the Caucuses would see no opportunity in a Mediteranean Peninsula and warm ports for a submarine base. Make no mistake Jacob our largest threat will come from Russia in the coming decades especially as we look considerably weaker to foes who are not even real opponents. I agree ZH should perhaps have a retraction section but trying to paint them as inaccurate is well foolish. Consider them the anti-propaganda.

Meanwhile Tim if you haven't noticed you have some futures to buy so get back to your terminal.

Fri, 05/21/2010 - 08:44 | 365371 Jacob Dreizin
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Step outside of your mind for a second and re-evaluate the reasoning that you just put forth.

You are saying that, because action "A" could *conceivably* benefit player "B", any random internet rumor on that matter---however unsubstantianted and unsourced---must be either believed, or at least taken seriously.

Under that logic, no rumor would ever be false, right?  I mean, maybe Lloyd Blankfein set up OJ Simpson because after all, he's a jerk and it would make him happy to screw the black man over.  Sheesh.

You know John, the Russians post their foreign currency reserves and national pension fund balances online, and they simply do not have 50 billion Euro to throw around for a submarine base in Greece.

Even if Putin had 50 billion stashed up some secret sleeve, think about it, 50 billion for what?  For 50 billion Russia could BUY Ukraine, yes, the entire country, they could buy it all back.  Lock, stock, and barrel.

So, that rumor was nuts.

Fri, 05/21/2010 - 09:06 | 365417 nikku
nikku's picture

So, you want ZH to post, "Sorry, that rumor was false."? Man, you're just a smart-ass. Look up the definition of rumor.

Fri, 05/21/2010 - 08:51 | 365393 overmedicatedun...
overmedicatedundersexed's picture

Russia has been out of the news since the elimination of poland's government leaders..

Russia has absolutely no interest in the restructuring of Europe and would never interfere with EU countries when they are in economic and political turmoil-- never. sarc off

Fri, 05/21/2010 - 09:00 | 365401 Jacob Dreizin
Jacob Dreizin's picture

Oh yeah, you just proved beyond a shadow of a doubt that Russia wanted to bail out Greece for 50 billion Euro.  <Sarc off>  Then why didn't it actually happen, huh????  As I said, some people will beleive anything written anywhere on the internet, so long as it agrees with their preexisting convictions.

Fri, 05/21/2010 - 09:18 | 365450 John McCloy
John McCloy's picture

 I believe one thing I read on the Internet today. And that is that you are here for a reasonand the recent fall in the markets are not sitting well with you and are angry sites like Zero Hedge exist because they force Wall Street to operate under more day of light. 

But hey speaking of authenticity of sources whats the difference between 5,000 barrels of oil a day and 75k barrels a day over the time frame of a month? 

Give up? Definite  unavoidable depression.

Fri, 05/21/2010 - 09:24 | 365469 Jacob Dreizin
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"I am here for a reason".  Wow.  What if the reason is merely that I don't work today and don't feel like going out?  Do you seriously think that I am part of the "Plunge Protection Team" conspiracy, that goes around posting on ZH because, God knows, ZH is so important and the Government doesn't have anything better to do?  Are you insane?

And just FYI, I couldn't care less about the recent fall in the stock market because I no longer invest in stocks.  Anyone who does, had fair warning and I won't be shedding any tears for them.

Fri, 05/21/2010 - 09:34 | 365487 John McCloy
John McCloy's picture

   No Jacob although I believe black helipcopters do exist they are much more rare than many believe. I am simply stating that your approach and critique was one that does not appear impartial and more emotional. 

Now if you had said something along the lines of, " Hey ZH I notice perhaps you guys do not always retract articles or leaks and just wanted to inform you in light of fairness and since I enjoy reading your articles I believe this should be a consideration" 

You did Jacob appear to identify yourself as a hostile. Zero Hedge bats close enough to 1.000 for me and certainly not all journalists are perfect.

Fri, 05/21/2010 - 10:55 | 365667 Apostate
Apostate's picture

Yeah, black helicopters exist.

Like most crappy vehicles from the M-I complex, I'm confident that they require constant maintenance from a huge team of engineers to keep from crashing on a regular basis.

Much like the Russian army these days is more or less a collection of butt-sex & vodka camps scattered around the country.

Times change... I'm more nervous about the Bloods down the block than the frog-man jumping through my window. 

Fri, 05/21/2010 - 09:45 | 365520 mtguy
mtguy's picture

Hey Jacob,

The fact is this is a great site to get alternative info and ideas. It doesn't mean you can turn off your turn off your mind. If you want all the information spoon fed to you, go watch Cramer. Do your own fact-checking. If you don't like it, go somewhere else, there's no one forcing you to be on here!

Fri, 05/21/2010 - 09:20 | 365459 DonnieD
DonnieD's picture

Is this the same Jacob Dreizin?

Jacob Dreizin has six years of analyst, project management, and external relations experience in the Federal bureaucracy, Congress, and the lobbying and government consulting sectors, with a focus on budgetary and economic issues. He is also an enlisted veteran of the U.S. Army.

Fri, 05/21/2010 - 10:30 | 365625 Timmay-Jimmay
Timmay-Jimmay's picture

Nailed it!

Fri, 05/21/2010 - 08:34 | 365349 Manbarepig
Manbarepig's picture

Lots of rumors here lately.  Some of them are true, some of them are false, it's like flipping a coin.

They're clearly advertised as rumors in the first line... take them or leave them. Most rumors have some grain of truth or are based on some sort of realistic possibility. Tyler isn't providing any of his trademark analysis and wit to the rumors, just the substantive stuff. The rumors he passes along "as is".

Fri, 05/21/2010 - 08:35 | 365351 mister_x
mister_x's picture

WSJ had an article on this yesterday:

So there is some truth to this. Yesterday's EOD selloff was most likely due to this as I suspected based on the price action.

Fri, 05/21/2010 - 08:35 | 365352 Cognitive Dissonance
Cognitive Dissonance's picture

Yet like a moth attracted to the bright light, you seem to come back for more. I'm not saying you're wrong or right, just that it's interesting this isn't the first time you've "complained", yet you come back for more abuse.

You must find some value in ZH. I consider that very good, that you can find your way past the stinking corpses to the live bodies.

Fri, 05/21/2010 - 08:44 | 365359 depression
depression's picture

If you want certainty, then I suggest you tune into CNBC and invest in 30 Year Treasury Bonds.

Volatility is spiking in response to a collapse in liquidity. The Op Ex unwind momentum probably peaked yesterday at the close. Forced margin calls happen.

Simple fact is, if there are more magin calls this morning, then there will be more selling this morning.

Fri, 05/21/2010 - 09:14 | 365443 mikla
mikla's picture

If you want certainty, then I suggest you tune into CNBC and invest in 30 Year Treasury Bonds.

+1 ... Ouch.  (Was that a bitch slap?)  ;-)

This is actually a serious point:  Much of the financial "analysis" is merely speculation.  Most of the "economic theory" is unsubstantiated projection (e.g., biased wishful thinking).

I know what is this thing called "rumor", and calibrate to it.  I use them like sensitivity analysis.  What if this happens?  What if I'm right?  What if I'm wrong?  It's a data point that pushes the envelope regarding possible scenarios, all of which need to be considered, most thresh-holded out, and the remaining ones utilized on a risk-analysis basis.  (For example, [low probability * high impact] may weight more than a [high probability * low impact], ala Taleb.)

Much of the financial world these days is merely stupidly annoying speculation regarding central bank manipulation, and back-room deals through political officials -- I'd ABSOLUTELY prefer to get some speculation on what's going on, and I can calibrate the source and the message to historical predictive success.

Summary:  I'm a big boy, I can process the rumors, and they don't hurt nor scare me (they make me more robust regarding possibilities, trends, and causation).

Specifically in reference to Zero Hedge, I've found a few things that are colorfully phrased (you may call them distorted or over-stated, but c'mon -- there's some awesome prose in the original posts!).  However, the *vast* majority of what we see here IMHO is pithy and relevant.  Further, remember some plans are "true" (we live in a central planning world), but the plans will change in an instant (e.g., "whipsaw" is a powerful force), and that doesn't make the original "rumor" false (it was true at the time).

Fri, 05/21/2010 - 08:40 | 365360 Tyler Durden
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The source is RanSquawk and confirmation has come from two trading desk sources. Would you like their names and social security numbers?

Fri, 05/21/2010 - 08:56 | 365372 MyFriendMises
MyFriendMises's picture

Ohhh Snap... You just got bitch slapped by Tyler.

Fri, 05/21/2010 - 11:08 | 365698 oklaboy
oklaboy's picture

I would put some ice on that...

Fri, 05/21/2010 - 08:54 | 365398 Jacob Dreizin
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OK, but we have no idea of their level of responsibility within their respective organizations, that is, whether they have the big picture or are just looking at their own little piece of the pie, possibly misinterpreting or exagerrating the facts.  Possibly they could be new young staff with absolutely no sense of perspective at all.

I've worked in Congressional politics, so am very well versed in rumors.  I've had "secret sources" tell me that the world was ending, they weren't getting their benefits check, etc., and they were later proven to be outright INSANE.  So your "sources" don't necessarily mean anything.

As for those who accuse me of trolling, I value this site for the long analysis pieces (Marla, Lenoir, etc.) which are unavaible elsewhere, or at least not for free.  But that doesn't mean that every critic or everyone who disagrees is a "troll".  Anyone who thinks that way is just as closed-minded and lost as the "mainstream media" hacks that we all love to hate.

Fri, 05/21/2010 - 08:59 | 365405 Tyler Durden
Tyler Durden's picture

When the fact passes the much more sensitive CNBC filter in a few hours, and is blasted as breaking news, will that set your mind at ease?

Fri, 05/21/2010 - 09:04 | 365413 Jacob Dreizin
Jacob Dreizin's picture

If so, yes.  It would then have fallen within the 50 percent of the rumors that prove true, just like tossing a coin would give 50 percent heads.  But I don't ever see ZH *retracting* the other 50 percent.

BTW, I don't watch CNBC, I don't even own a television.

Fri, 05/21/2010 - 09:10 | 365426 John McCloy
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  Oh you mean breaking news such as this?

Who at CNBC conjures up these headlines? Do you think Ben faxes, texts or twitters the producers these gems.

Fri, 05/21/2010 - 09:03 | 365410 lance_manion
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Jake, I think you've become a little too emotionally involved in trying to hammer on whatever point you are trying to make.  Chill out dude.  Seriously.

Fri, 05/21/2010 - 09:04 | 365412 MyFriendMises
MyFriendMises's picture

What makes you a troll is that you can come on a site and get the use out of some of the content while at the same time criticizing the creators of the site for what you don't like.  It is akin to having your mother wash your clothes for you and then telling her she folds them wrong.  It is just obnoxious.

Fri, 05/21/2010 - 09:08 | 365421 Jacob Dreizin
Jacob Dreizin's picture

Sorry you can't handle a little disagreement, bro.  Obviously this is your little safe-haven and you don't like it when someone intrudes with a slightly different perspective.  I guess by your logic, if you live in America and get "use" out of it, then you have no right to criticize the government?  What's ZH about, then?

Fri, 05/21/2010 - 09:23 | 365452 MyFriendMises
MyFriendMises's picture

It would be one thing if your perspective was substantive.  It is another if you are just criticizing how the site is being run.  I just don't get people who criticize something they don't pay for.  As for your analogy, I pay taxes therefore I have a vested interest in how this country is run.  You do not pay anything for your use of this site therefore you should go somewhere else if you don't like how it is being run.  Your comments are akin to a homeless guy criticizing the food someone gives him.

Fri, 05/21/2010 - 09:11 | 365429 Takingbets
Takingbets's picture

The first paragraph of your post sounds like speculation too me.

Now who is the one spreading rumors around here?

Fri, 05/21/2010 - 09:12 | 365438 Eally Ucked
Eally Ucked's picture

Special teams to the rescue, a little bit here and there. Jacob where are your other buddies? I think they will show up shortly?

Fri, 05/21/2010 - 08:43 | 365368 MyFriendMises
MyFriendMises's picture

Not more rumors than normal.  Just more trolls.  I always tell people about this site and they used to always come back and say it was way to much conspiracy theory stuff.  However most of the so called conspiracies have subsequently come true so I am glad they post the stuff that they do.  While some might turn out to be false, many will turn out to be true.  Just my two cents. 

Fri, 05/21/2010 - 08:51 | 365390 Rebel
Rebel's picture

If you wait to report until rumors are confirmed, it may be too late to be actionable. ZH posts info/news/rumors early, allowing further investigation by the reader, and early action if warranted. I would prefer it this way.

Fri, 05/21/2010 - 08:56 | 365399 Operafaust
Operafaust's picture

I stand by you on this one. Zerohedge first attracted me with its in-depth, off-the-beaten-track analysis. It felt like a website by professionals, for professionals, with a heavy dose of wit and sarcasm to spice things up.

More often though, I'm seeing too many rumors. I understand zerohedge has a policy of 'take it or leave it' but credibility becomes an issue at some point. I'd rather log in here than tune into CNBC any day, but Tyler and Marla need to start fine tuning the signal to noise ratio if they want to take Zerohedge to the next level.

Fri, 05/21/2010 - 09:10 | 365427 mmlevine
mmlevine's picture

I have a suggestion - get off ZH and on to  Easy.

Fri, 05/21/2010 - 09:32 | 365447 nikku
nikku's picture

As a former senior professional of an investment bank, who now resides "in the country," please disregard this advice.  I am not on a trading floor to hear the rumors.  I want to know what they are.  I am seasoned enough to understand that

unsubstantiated rumor = rumor, and

substantiated rumor = fact.

As long as you identify something as a rumor, I will take it for what it is.  I don't need ZH to be my personal rumor filter.  I have the government and FTV working together to filter--er censor--no-- distort what comes my way regularly enough.

Fri, 05/21/2010 - 09:19 | 365455 w
w's picture

A well balanced comment IMO, I don't understand why someone felt the need to mark it as junk.

I'd like to add two things:

1. Rumours presented as such are harmless and can sometimes be very valuable (if only for the fact that they are running around).

2. From my perspective ZH has already done a lot of fine tuning and the signal to noise ratio (of the posts) has been considerably enhanced over time.

3 (/2) Nobody's perfect.

Fri, 05/21/2010 - 10:02 | 365558 chindit13
chindit13's picture

I stumbled on to this site just about the first week of its existence, though I did not begin posting under a pseudo until later.  In the thousands of articles TD et al have posted, I can probably count on one hand the few I thought were over the top, based on weak logic, or clearly rushed to print before they were given a good smell test.  That's not a bad record.

I can point out most of them if you'd like.  You are welcome to list your own.

Fri, 05/21/2010 - 09:04 | 365414 Cheeky Bastard
Cheeky Bastard's picture

I hope AIPAC pays you well.


Fri, 05/21/2010 - 09:09 | 365425 Jacob Dreizin
Jacob Dreizin's picture

Haven't worked there in over a year.  Nonetheless, your comment says a lot about you.

Fri, 05/21/2010 - 11:19 | 365624 Cheeky Bastard
Cheeky Bastard's picture

Nonetheless, your comment says a lot about you.


No; not at all. But you working for AIPAC says a lot about you.

FYI; Im a humanist, a dying breed; I am, however, a moderate anti-statist.

While you, probably, base your life on what Talmud thought you, I take a non-partial view on the things that surround me. You will do anything for your state, even die for, because with the lack of your own personal identity you took the identity of said state and that, unequivocally , leads to a conclusion that you interpret, subconsciously, every critique against institutions and representative bodies of said country, as a personal attack on yourself, and your self-preserving instincts kick in and you, ferociously, defend your view, which is basically your observation of yourself via a proxy. And naturally, the deep pit in which your intellect slumbers, keeps getting deeper, and then paranoia enters the picture. Basically your reason is firing blanks and your intellect is non-existent. 

Now go pick up a nice coloring book and start educating yourself .... boy. 


Jacob Dreizin has six years of analyst, project management, and external relations experience in the Federal bureaucracy, Congress, and the lobbying and government consulting sectors, with a focus on budgetary and economic issues. He is also an enlisted veteran of the U.S. Army.

Judging by this; you are a low level apparatchik who has every interest in keeping the system which feeds him alive and strong. You have not held any position, or worked any job which was not directly related to Federal Government. You are basically just another leech among tens of millions of similar leeches who suck the blood from the productive capacity of all the nations in the world. 

I really feel sorry for you; and I dont say that because of what you do, but because you can not see that you are a) easily replaceable and nothing more than ordinary b) indoctrinated by the teat that feeds you.


Fri, 05/21/2010 - 11:23 | 365742 Rick64
Rick64's picture

CB I admire your intellect more and more each day.

Fri, 05/21/2010 - 14:15 | 366156 Jacob Dreizin
Jacob Dreizin's picture

CB, sorry but you haven't figured me out.  I have never read the Talmud, have no regard for any religion, do not seek to associate with Jews except as work requires, and do not presently work for the U.S. government or any related body.  So you're wrong on every count.

Of course, when certain cave-dwellers on this message board make ridiculous, insane statements such as "Israel is responsible for all wars", "Israel fakes terrorist attacks against itself", or that John D. Rockfeller was a Jew (not making this up), I reserve the right to call attention to their ignorance.  And if calling them out on the facts gets me pegged as a "ZioNazi", well then I don't mind.

Lastly, I will say that the libertarian-constitutionalist fringe, as right as it is on so many points, will go nowhere politically until its proponents can learn to convey a coherent message to the "uninitiated" without raving like lunatics about conspiracy theories involving Illuminati, Jews, ZOG, black helicopters, nonexistent PPP's, 9/11 "truther" BS, etc., and without drawing their pistols at the first small sign of someone not following-to-the-letter their own, particular, narrow, oftentimes barely comprehensible stream of thought.

In other words, as long as this ideological stream is seen to be the domain of outback militia types, bigots, paranoid schizophrenics, and people who think they're somehow going to come out ahead when the world ends, it will have zero political manifestation and zero success.  It will never be represented in any major political party, and will not even have any role to play in resolving the upheavals which we all expect.  It will remain completely irrelevant to mainstream thought and will remain strictly limited to the blogosphere, just as it is now.

Fri, 05/21/2010 - 09:19 | 365458 Duuude
Duuude's picture

I think his view was fairly put, whether or not I agree with him.

Fri, 05/21/2010 - 09:44 | 365519 citizen2084
citizen2084's picture

bullseye !

Fri, 05/21/2010 - 09:05 | 365416 longjohnshorts
longjohnshorts's picture

I agree with Jacob D. 100%.  I read ZH for the solid economic and financial news, not for the outrageous rumors, rants and speculation. The more solid the news, the better this site will do. The more it lapses into tirades and weirdo thinking, the less credibility it will have.

I'm also troubled by the apparent inability of many posters to accept criticism of this kind. The flag that Jacob's post is marked as "junk" by so many people, when all he did was offer an honest critique, suggests a level of intolerance that is a bit frightening.

A frequent rant them here is to the "totalitarian" behavior of governments and financiers. The growing intolerance on this board suggests that kind of thinking might be a bit closer to home.

So, now, I'll just await all of your "junk" flags.

Fri, 05/21/2010 - 09:09 | 365424 lance_manion
lance_manion's picture

Well, since you asked for you go Jonny.

Fri, 05/21/2010 - 09:26 | 365472 nikku
nikku's picture

Won't junk you, but would point out that your reasons for reading and mine do not have to be the same in every respect.  My criticism of the site would be that we don't have a way to salute someone's comments short of actually commenting.  In other words, an ability to vote up, or down.

Fri, 05/21/2010 - 09:34 | 365492 longjohnshorts
longjohnshorts's picture

I agree whole-heartedly with the need for a way to vote up or down. Right now, one can only vote down, except by commenting.

Fri, 05/21/2010 - 11:02 | 365684 RockyRacoon
RockyRacoon's picture

So far I count 7 "junks".  Shouldn't there be at least 7 reply comments?  It would only be fair.

BTW, I didn't junk you.

Fri, 05/21/2010 - 08:28 | 365339 fallst
fallst's picture

It would be Safe To Say the Margin Call "Collateral" Party has begun.

All Players.

Fri, 05/21/2010 - 08:41 | 365364 perma bear
perma bear's picture

It will be a day to celebrate when the PPT has margin calls

Fri, 05/21/2010 - 08:48 | 365383 MyFriendMises
MyFriendMises's picture

However they will probably not pay.  Just like everything else this government surely does not practice what they breach.  Banks walk away from debts all the time with the governments support however the people are supposed to keep paying all their bills regardless of how under water they are.

Fri, 05/21/2010 - 09:22 | 365464 silvertrain
silvertrain's picture


 Pay or file judgements and pay or garnish and pay or seizure etc. They will just take there toys and go home  say tough luck..

Fri, 05/21/2010 - 08:44 | 365374 Coldcall
Coldcall's picture

ironic ain't it...

Fri, 05/21/2010 - 08:48 | 365382 old_turk
old_turk's picture

Woo Hooooooo!!!!!!!


Margin call?

What's that?

You mean my 3 cents 'skin in the game' ain't good enough for you now?


Woe to the hedgie with their hands caught in the long cookie jar.



Fri, 05/21/2010 - 08:51 | 365392 Samsonov
Samsonov's picture

The margin calls about to hit will give the stock market a nasty shock, certainly.  But it will be nothing compared to what we'll witness when the longs decide to liquidate.  There potentially is no bottom to this thing.

Fri, 05/21/2010 - 09:26 | 365473 Duuude
Duuude's picture

ZH has another article that tha Hedgie's are positioning down. Up, down, don't matter ta them. Playin with BB's Pixeldust.

Fri, 05/21/2010 - 09:03 | 365411 sumo
sumo's picture

I'm net long volatility, but even so, this speeding train wreck is scaring me.

I can't imagine what it would be like to be trading on the wrong side of this.


Fri, 05/21/2010 - 09:13 | 365441 LeBalance
LeBalance's picture

Umm...we all have highly attuned BS filters...that's a given.

It is also the case that one person's "Hmmm that another's antichrist."

So I would say "This site is of a certain flavor as per its director's guidelines.  I've seen mea culpas from contributors. And TD did respond to say what the level of newsworthyness (due diligence) it passed." /sigh/

At this point, if you persist, you are a troll.  Or see CB's remark.

Fri, 05/21/2010 - 09:18 | 365453 pros
pros's picture

Prices are down-

all lenders will require additional collateral..




Fri, 05/21/2010 - 09:26 | 365475 koaj
koaj's picture

i remember after bear collapse, i had a client who used bear as one of their prime brokers. leading up to the collapse, bear told them they could not pull their cash out immediately. what i was told is that the bear collapse happened in large part due to hedgies pulling their cash out of their PB


Fri, 05/21/2010 - 09:37 | 365502 Wynn
Wynn's picture

Its interesting to watch the mob mentality coalesce, be it in Greece or Thailand, or here at Zero Hedge.

Intelligent, thoughtful responses should always be welcome here, regardless of which side of the trade they're on.

Fri, 05/21/2010 - 09:40 | 365508 bbbilly1326
bbbilly1326's picture



Did you just see that ?  Losses cut in half in a few seconds !!

Fri, 05/21/2010 - 10:03 | 365562 chindit13
chindit13's picture

Option expiration day.  Expect lots of swings.

Fri, 05/21/2010 - 10:45 | 365653 bbbilly1326
bbbilly1326's picture

ok, but also my ticker stopped completely  twice this morning, anyone else have that happen ?


Does it mean anything about the market ?  or just my broker ?

Fri, 05/21/2010 - 17:34 | 366723 cheapy
cheapy's picture

I think the REAL PROBLEM is that we have banks lending people leverage to speculate and make the market crazy with in the FIRST PLACE, because its *MY* money (as a taxpayer) being used to back the basterds up.  WTF are they doing lending money to hedge funds?  Why should I be backstopping an operation that lends to them, just so they can short what I own against me?


CEASE AND DESIST, I say.  No more money from the government for anything like this.  If I want to speculate with my money, or someone else does with theirs, or wants to give it to someone to speculate with, great, BUT BANKS SHOULDN'T BE LENDING to them, no more than they would lend to you or I, because the risk is the same.


Do NOT follow this link or you will be banned from the site!