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PigMen Shafted, Russian Escorts Stranded in Europe, Hamptons Weekend Ruined
How quickly things can unravel for the PigMen Prop Desk traders at Goldman. Wall Street gets busted. However, Joe Sixpack is unfazed, as retailers once again are immune and resilient from any type of convulsion, algospasm, or Black Swan event impacting the financial markets.
Instead of tipping Martinis on the outdoor deck, fondling 19-year old Ukranian escorts, and boasting of how many large clients they ripped off, the PigMen are going to be walking around this weekend in their Park Ave. apartments. Scratching their heads, wondering if their beloved firm is going to go down the toilet, swamped with massive fraud investigations.
Instead of the usual and normal "Epic Weekend at The Hamptons" often reported on Friday afternoons, the PigMen got the shaft:
However, note how the retail index barely sold off:
And the "safe haven" plays today were the mortgage insurers. No doubt, they will have their hand out in all the GS lawsuits:
And I suspect that Dollar General will be announcing a slew of new store openings on Long Island, Connecticut, etc.
And after the 2008 debacle, nobody, I mean NOBODY is going to take any chances of another stock market collapse.
Record volume today:
And note how bonds were bid up once again, the dollar was strong, as various Fed Heads started jawboning again about "exit strategies" and "asset sales".
A 300 point drop in the Dow is a virtual guarantee of driving down the 10-yr. yield to 3.5% and more "extend and pretend" schemes, scams, and programs can be financed indefinitely if another crisis occurs.
It's all part of the "Wash, Rinse, Repeat" cycle ad infinitum.
Yes, it is all getting very tiring....
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Nice pig. Can I have some cornbread and beans too?
I would recommend you get your bbq here.
http://www.youtube.com/watch?v=WPkMUU9tUqk
Home sick today so flip-flopping between CNBS and Bloomberg.
Incredible how the CNBS mouthpieces try in vain to downplay the severity of the charges, at one point agreeing with one of their guests that this is nothing more than a SEC witch-hunt.
Bob Pisani, resident douche-bag extraordinare, almost splooged his pants about 5 minutes before the close when the Dow started to rally back going from -100 to -85 in about 30 sec. All for not as the market gave it back and then some.
Did anyone see the punking Cramer took on-camera from some guy named "Sylvan" from R&R Consulting? Classic TV...especially Erin Burnett's reaction. (She told the guy he was no longer welcome on the network).
Of course, this could all be made to disappear if a middle east shooting war were to appear.
You don't think those news stories about an "imminent" war were just a coincidence, do you?
I've been trying to find that video the only one I see on CNBC doesn't have the guys name or the company but it's the only one that has no audio. If you have a link to it I would really appreciate it because I have a sinking feeling that they are doing everything they can to keep Goldman out of the picture and in the clear, why else have Jim Cramer on the show for the whole hour.
http://market-ticker.denninger.net/archives/2209-Cramer-Needs-To-Shut-Th...
I checked link into vid and audio is working fine . Please forgive rep4eat link if others have posted same
ZH posted it here. Hope the embedded video still works. As they say around here, hilarity ensued.
http://www.zerohedge.com/article/cnbc-guest-tells-truth-calls-cramer-shallow-yanked-air
Risk on, Risk OFF! Risk assets got whacked hard today. Everything from oil, gold, commodities, tech, got whacked, and yes, solars were slaughtered today. If Goldman goes down, they're taking everyone with them! This dude is pissed:
Or maybe, just maybe, Goldman made yet another killing today:
I'll take the side of the bet where they made a killing.
Wouldn't doubt they'll be skinning a lot of cats in the near future to create a rainy day fund to help pay their legal expenses.
Although I have to wonder if this isn't a political witch hunt smoke screen to cover for the Dear Leader's plunging political poll ratings.
But, mucho party this weekend since the Vampire Squid took one right in the kisser a la 20,000 Leagues Under the Sea where the hero of the story drives a spike into the heart of the giant squid.
SEC propaganda. This is news that wall street shorted the junk they sold? puhleeze.
I'm a buyer of strong stocks. AAPL F INTC AIG
http://4.bp.blogspot.com/_J44Z7ctMC14/SxijWpEvjuI/AAAAAAAAA3g/_qD61SseYX...
yo leo, i told a family friend with MS about the liberation treatment after reading about it on your post. she hadn't heard of it before and is now checking it out. thanks for passing that along.
Leo, put down the bankster kool-aid!
I have to laugh, and shake my head, at anyone who would DARE consider gold and real, physical commodities as representing "risk", when faced with a massively corrupt, manipulated, fraudulant, failing, fractional fiat paper-based financial and monetary system. Gold is somehow to be defined (and by whom?) as "risky" but the fiat dollar is not? Or GS stock? Or Greek (and soon) US government bonds?
That's a mighty curious, warped and pro-status-quo biased definition of "risk" you have there.
What the hell are you smoking, Leo? Whatever it is, I want some of that!
Dude, wake up, every market is corrupt and manipulated nowadays, including your precious gold market.
Dude, wake up --- they can corrupt the gold market with their fictional "paper gold" (perhaps the ultimate oxymoron), but the banksters can never corrupt PHYSICAL GOLD! Whereas the very essence of our paper financial and monetary Ponzi schemes is fraud; they could not and would not exist without it.
I can only give you only a C- for standing up for the banksters and their corruption this time.
Umm, physical gold won't help you if we enter a depression and social chaos ensues. :)
Actually beg to differ Leo. In times of such chaos, everything goes chaotic and then people reset, along with all else, the idea of value. Fiat = 41 year (give or take) cyclical boom bust vs. gold, long time value store.
Or farmland even. But paper is a play within the larger game. You are not addressing troops here, but fellow officers. Give them the credit of understanding a bigger picture, please.
Along with basket-case India, china is equally and terribly mis-understood. Does not matter how many prop desks and what not anyone "ran" and how well they speak the language.
The east will remain a mystery.
Plus, this time around, we is all going down together, white man sure made sure of that, his contagion is everywhere.
Neither will solars...
Leo, speak to some refugees; from people leaving Shanghai in the late 1940's, to Iranians fleeing after the Shah's fall, to Southern Vietnamese fleeing communists, every single one was better off if they had gold, which many did, and used it to build a new life elsewhere. One of Hong Kong's wealthiest families, owners of the Peninsula Hotel Group, fled Shanghai and were very grateful for the gold they were able to carry with them as all else was lost. You are living in cloud cookoo land.
Ditto that Cookie. It's true you can't eat gold, it won't keep you warm, it doesn't yield a return, yada yada yada... But it you manage to keep it and your life through troubled times you will be light years ahead of the rest. Most people are just to short term in their thinking.
Leo,
the bet is that stocks are manipulated up and gold bullion manipulated down.
In case we get social chaos Archeologists might find hidden coins in abandoned buildings few centuries from now like they do today in some buildings from late roman times.
true dat
Nice rear end shot of that pig getting the shaft in more ways than one. Too bad you didn't cut and paste Blankfein or Paulsons face with a shocked/painful expression in place of the head of the pig.
The squid boys will be reduced to frolicking within their own species for shits and giggles:
http://3.bp.blogspot.com/_B7UIg7gmNWg/R9rVVFqKsoI/AAAAAAAAAL8/OUeZHa-pRi...
Double your fun with Robo and Leo. Thanks, and enjoy the weekend!
If the fear of being prosecuted for fraud is going to cause sectors of this market to sell off, then I'll start trading it again. If the banks valuations were dependent on fraud perpetuation, then let's collectively revalue them to something much closer to zero!
One step at a time, soldiers, one step at a time.
Well said, fear spreads quickly & we have the whole weekend to dwell...I'm guessing more skeletons appearing & spreading this emotion fear over the weekend in say somewhere like the EU to help make Monday that little more unpredictable than it has been for the past what is it now maybe 40 fraudulent weeks
There has to be cuffs on cloven hoofs for there to be real fear. That and disgorgement of ill-gotten gains. It's all talk for now but it's better than what we've had, which is -0-. And ouch on the pig, Robo. But arty. Also.
'Algospasm' - awesome, Robo
17% U6 unemployment... dismissed as a lagging indicator.
7 million foreclosures... old news, Fannie will absorb
Pending municipal and sovereign defaults... bailout assumed.
But... a hint of the smallest impediment to banksters' ability to screw clients?... market panic.
The timing is disconcertingly political here. I can't believe the SEC has now suddenly switched from The Dark Side. The only way this has any teeth is if O has thrown in the towel on Geithner et al in the Axis of Weasels and gotten the populist bug up his ass.
You read O's unauthorized biography and you realize they've got him by the balls. There's a metric assload of Illinois corruption all around him. A scumbag like Rezko alone has enough dirt to bury the guy, nevermind the entire Chicago machine.
You gotta remember that Congress and O *took the fkin bribes* that got Squid paid. Squid kept the cancelled checks.
I'm betting this goes nowhere, rather than an outbreak of conscience from a politician who has spent his entire LIFE standing for nothing beyond self-interest.
Webster's Unauthorized Series?
Much enjoyed the original Amerikan Caligula... Can't wait to read the Obummer file...
if you have not bought this dip you are dumb
Maybe so but you can't keep pumping up a flat tyre without eventually fixing it hence why I'll stay shorter than Danny Devito
Oh yes i also think this rally is against common sense and the banksters should hang but if the most influential corp on the planet dips this hard it looks like a bear trap to me. We are not going down without a fight (170 retest).
Rat Avatar, you accidentally included the word "not" in your statement.
Thanks, Jim, for pointing that out. Go argue with Sylvain Raynes again. That was fun to watch.
"I want to remain shallow in deference to Mr. Cramer..."
Classic.
"Yes, it is all getting very tiring...."
one liner of the month in the "the End is Near" category?
Monday & Tuesday will tell.
Only a moron, ignorant Lib is so capable of taking out the Golden Sgoose like this.
Between Iceland's volcano shutting down global warming for at least 6 months and todays action ManBearPig is having a bad day.
Anyway, I'm not getting too amped up about the hysteria of the day. In my mind, the market is as overbought as it was oversold a year ago. So, after the Goldman news hit, I went short. Seemed logical. The bubble machine is in place until its not, but if your lucky you can scalp out a nice quick gain on a quick sudden correction.
I see JPM set aside $2.3 billion for "litigation" purposes. It gets curiouser and curiouser.
We should all don black suits, thin ties and pilot sunglasses, then rent unmarked Ford police cruiser cars and drive around the Hamptoms. Get those dime store badges and pin them to our belts and stop the car periodically to stretch our arms with our suit coats unbuttoned. Be worth the price of admission.
Call Blankfein's house and offer our professional legal services specializing in fraud defense.
WITH ALL THOSE FLIGHTS CANCELED ,
I GUESS THE TSA CREEPS WILL JUST
HAVE TO GROPE EACH OTHER.
ICELANDIC VOLCANO COULD GO ON SPEWING FOR MONTHS,
VOLCANIC ASH COULD BURY LONDON IN 5O FEET OF ASH
LET THIS BE A LESSON TO EVERYONE ,
DO NOT MESS WITH ICELAND ,
PAYBACK IS A BITCH
All Hail the Aesir!
Loki the Avenger strikes again!
S&^T load of them happening, heard Yellowstone is rumbling much more than usual...living withing 2000 miles?. As a Londoner I say not funny...
Volcano, bitches!
FAZ,baby!
Thanks for the charts. Things are going parabolic all over. "Poof"
It either snaps back with a vengeance, or it snaps and poof its done.
a boucherie. a bloody boucherie
Great title! Finally we're getting some volume (on GS sell-off of course). Airlines seem to be holding uholding up well (eg. CAL) on the thesis that not flying saves them money I guess?
I think the doelarr's move was WEAK. Should have roared. The tide of the currentseas is washing out. Not much time before new world currentseas/facebook credits to put food on your family.