Operation AIG II to Save Pensions?

Leo Kolivakis's picture

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Iam_Silverman's picture

"The paper wrote that a full-scale financial panic has not set in but is close."

Glad to hear that the good folks on Wall Street are worried for once - while the average citizen (who will probably be least affected) on Main Street goes blissfully along in his day to day life.

IQ 145's picture

 Just to make sure I'm getting my signals straight here; is it okay to sell my Chinese Solar panel manufacturers in order to invest in the National Bank of Greece, or should I wait?

nah's picture

save duh money bitchez

ThirdCoastSurfer's picture

From $200.5 to $237.5 neglects to mention the $252b,  or whatever the actual number was (it was way up there), that S-CALPERS reported prior to the collapse.  

That the fund is 1/3 from the top it is 1/3 from the bottom and these are not numbers that sit unexamined like a coin collection, projections and budgets and everything is based on the current number looking forward and everything prior to 2008 went out the window and amounts to 3 lost years and counting. Spin it anyway you want, the fact is that all these funds are far too exposed to risk and are not, as of yet, too big to fail. Did they learn their lesson? Obviously not, they've doubled down!

SheepDog-One's picture

Leo one morning will wake up to the horror of all these pensions and 401K's seized by the govt. I'll laugh.

Leo Kolivakis's picture

I take it day by day. Laughing all the way to the bank today. Shutting my computer off and going for a swim and some sun. Cheers.

Gene Parmesan's picture

Good luck fulfilling that dream you shared with us.

Thisson's picture

Lol @ Leo advising Americans to hand over more money to Madoff...err...Bernanke.  "But guys, look at my statements, the returns are great! He's killing it!"

akak's picture

One cannot take the scribblings of our dear little leo quislingasskiss at face value --- they are simply intended as an entertaining farce, like Ben Bernanke's congressional testimonies.

I do wonder if our dear little leo's chin similarly quivers while he is writing his inane pro-statist, pro-status-quo ramblings, though.

RockyRacoon's picture

So... that row of decks chairs has been nicely aligned.

Shall we meet in the ballroom for a few drinks and some dancing?

I hear the band is quite good.

centerline's picture

Meanwhile, muni's don't have a printing press and are up against a wall.  The bailout is obviously in pumping the markets... but it is not enough.  The interventions will be larger and larger, with diminishing returns.  No telling how long it go on - but "forever" isn't one of the possibilities here.

I agree that money printing in one form or another is what will happen.  The threat of deflation is too great.  Actually, real deflation IS too great and it will win in the end.  But that doesn't mean that the elite wont try to run from it.

akak's picture

If you want to commit financial suicide here, pick up some distressed European equities and bonds like National Bank of Greece (NBG).

LawsofPhysics's picture

Major head fakes coming.  No deal Leo, Gold will track right up with the markets.  Which one would you rather be holding?

Leo Kolivakis's picture

Get ready to cover shorties:

(BN) *OBAMA AND BOEHNER CLOSE TO MAJOR BUDGET DEAL: NYT

Like clockwork!

 

milarepa's picture

Hi, just curious, do we know how much of those pension returns are off mortgage-backed securities and other dubious assets?

milarepa's picture

Hi, just curious, do we know how much of those pension returns are off mortgage-backed securities and other dubious assets?

IQ 145's picture

 Short the DJIA from 12,700; with a stop at 12,950. I'll probably get wacked, but I pay too much tax anyway.