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Question, is it Vells or Wells?
Fuck yo couch, Lippmann!
"Fuck yo couch!":
Goldman was not the only firm that peddled these complex securities — known as synthetic collateralized debt obligations, or C.D.O.’s — and then made financial bets against them, called selling short in Wall Street parlance. Others that created similar securities and then bet they would fail, according to Wall Street traders, include Deutsche Bank and Morgan Stanley, as well as smaller firms like Tricadia Inc., an investment company whose parent firm was overseen by Lewis A. Sachs, who this year became a special counselor to Treasury Secretary Timothy F. Geithner.
Lippmann would have gone 3 days later if they paid him in cash the bonus. His shares of DB vested in 1 year minimum...and now he can sell them and pocket those 50MM dollars and leave them. They never loved him anyway...even if he saved their ass. Precisely because he bet against what DB was sure were his bread butter and salmon moneymaker CDOs...the mandarins are still resenting the whole moneymaking machine have blown...they did not really, seriously understood why or why it must not come back...they why only jail or a bullet will stop their attempts to revive it and replace it.
so, more than likely, the demand for junk CDO was the reason why so many junk mortgages were originated. Therefore, the demand to short housing market perpetuated itself into final blow-off in the housing market. If so, the charges GS and others like them face should go beyond security fraud but to realm of financial terrorism.
The SEC must file that case showing the hunger for CDO's slamming the poor into mortgages they knew would fail and wanted to fail. Right now, the focus is bank-on-bank crime...accredited investors getting swindled at the top of the iceberg. We're missing the case down below that gives all these people standing to pound the originators and their Wall Street owners. Then, game's on...
Yes, top-down demand for any mortgage with an X on it to fuel their time bomb "AAA" rated CDO. Then CDS swaps against them. They were "hedging". That was why Hank Paulson was such a big help so we could pay AIG, a large insurance company, who could then actually pay on that "insurance". Hoist the Jolly Roger.
hope db will avoid a charge, have my accounts there and thought about starting at db fx...
EURO continues to get a lot of support ...
But USD index weekly chart continues to give bullish warnings.
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