• Knave Dave
    05/23/2016 - 18:16
    This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve...

SEC Admits Cluelessness About Market Crash After Intimate Meeting With Guilty Parties Who Refuse To Take Blame

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Mon, 05/10/2010 - 18:49 | 342258 Turd Ferguson
Turd Ferguson's picture

This is all such a fucking joke, it can hardly be believed.

In this surreal, upside-down world, anything is now possible.


If you are an Average Joe, just trying to get by, saving for retirement or your kids' college education, GET OUT OF THE STOCK MARKET!!! The market is run by gangsters and thieves who will fuck you every which way to Friday. Oh sure, you might make a little bit of money if you happen to tag along for the ride on one of their manipulations. But, over time, you're gonna get bent over like a cheap, Las Vegas whore.


Invest in gold and your own, personal business. Everything else is a fuck job. 

Mon, 05/10/2010 - 18:54 | 342279 Turd Ferguson
Turd Ferguson's picture

Please excuse all the F-bombs. Just pissed. Fed up. Sick of the lies.

Mon, 05/10/2010 - 20:04 | 342425 Kaiser Sousa
Kaiser Sousa's picture

no apologies required....


Mon, 05/10/2010 - 21:31 | 342579 Hulk
Hulk's picture

I drop the F-bombs too when I can't take anymore. Not proud of it, bit it does get the mental attitude at the time point across. If you ever figure out how to throw and break things over the internet, let me know. I am real good at that...

Tue, 05/11/2010 - 00:06 | 342789 Unscarred
Unscarred's picture

All kidding aside, every commercial enterprise in our world is run by "gangsters and thieves who will fuck you every which way to Friday."  Everyone is out to break it off in you.  Even when the rare friendly soul extends their right hand to greet you with a smile, they're only doing so in a covert effort to pick your pocket with their left hand.  Better to decline the greeting, keep your left hand over your junk, your right hand over your ass, and your head on a swivel.

It just so happens that the stakes are infinitely higher in the world of global finance.

Mon, 05/10/2010 - 19:19 | 342318 Trial of the Pyx
Trial of the Pyx's picture

"In this surreal, upside-down world, anything is now possible."


Anything, it would appear, except fair dealing, honor, or common sense.

Tue, 05/11/2010 - 02:13 | 342881 Hephasteus
Hephasteus's picture

If you stay in a fiat currency you're going to get screwed. They'll screw you in gold as long as they can.

But make no mistake. These systems are coming down. It's just a matter of if they can push people to more obfuscated, perception controlled existance or not.

Count your beans even though they've been replaced with poison drug capsules.

Mon, 05/10/2010 - 19:52 | 342401 TheGoodDoctor
TheGoodDoctor's picture

Aren't there transaction logs? Can't they determine who did what based on that?

I mean really?

I'm with you Turd. I'm mad about 10 ways to Sunday.

Mon, 05/10/2010 - 20:06 | 342432 Sisyphus
Sisyphus's picture



Mr./Ms Fergusion, you are way too negative with your opinion. I think they should avoid gold like a plague and buy a house, no buy houses; heck help your neighbors to buy another house and then help his mistresses/mistersess buy another house. Home prices never go down. My BFF Ben and Barney said so.

"My advice to all Americans -- if you don't own a home today now's the time to buy one," Paulson said. "If you already own one, now's the time to buy another one. If you already own two, it's time to help your children buy a home."

A solid housing market should "cement" stronger-than-expected economic growth, Paulson said, forecasting GDP to expand 4% to 5% in 2011.




Mon, 05/10/2010 - 21:45 | 342603 TheGoodDoctor
TheGoodDoctor's picture

My God I thought this was a joke at first! What a douchebag! Buying houses is the answer! Right in front of my fucking nose and I couldn't see it! Thanks Hank!

If he expects such great corporate earnings - just wait; after awhile once inflation hits my guess is those earnings won't be so great when the overtaxed, over fee-ed, no home buying, lazy, no job motherfuckers, can't buy the products from the American companies that they helped build with their jobs now gone overseas and the products being made overseas too. /sarcasm off

This time it is different.

Mon, 05/10/2010 - 22:35 | 342678 Problem Is
Problem Is's picture

"Buying houses is the answer!"

Or As the brilliant Jesse once photo-shop quoted Obummer:

Jesses Cafe Americain

"Jobs? You don't need no stinkin' jobs! You need loans!"

"Is that what you wanted me to say, Ben?"

Mon, 05/10/2010 - 23:41 | 342759 Votewithabullet
Votewithabullet's picture

Wrong Paulson. Both billionairs. One, mouth open, the other...not so much. In fact i'm looking for him...I want to vote for him...so to speak.

Tue, 05/11/2010 - 01:00 | 342826 TheGoodDoctor
TheGoodDoctor's picture

My bad. I missed that. I could see that coming from Hank too. What does John Paulson have a REIT that he is looking to make some money on now? LOL.

Tue, 05/11/2010 - 03:12 | 342910 Boop
Boop's picture

A contrary opinion: CHART OF THE DAY: The Overhang That Will Smother Any Housing Recovery

Gregory White and Kamelia Angelova | May. 10, 2010, 3:10 PM

Housing continues to be a serious problem for the U.S. economy with a tremendous amount of unsold overhang remaining in the system. This means that more than 7 million homes remain weighing down the market, due to bank's having repossessed them or the loans being in delinquency.

It's interesting to note, per this chart from Whitney Tilson's T2 Partners, this does not include new defaults, which are around 300,000 per month.

Tue, 05/11/2010 - 07:13 | 343057 Freewheelin Franklin
Freewheelin Franklin's picture

Thank you, I do invest in my own, personal business. However, my business is in the building trades, which has taken a substantial hit this past year. I'm thinking about getting out and buying a recession proof business; a bar.

Mon, 05/10/2010 - 18:49 | 342264 Rainman
Rainman's picture

I'd bet SEC could fuck things up less with a $ 5 billion budget. But you'd have to give me big odds.

Mon, 05/10/2010 - 19:55 | 342408 Cistercian
Cistercian's picture

 They could always stimulate the economy thru their "download" activity.

Mon, 05/10/2010 - 18:51 | 342267 williambanzai7
williambanzai7's picture

Never underestimate the moronisphere.

Mon, 05/10/2010 - 20:24 | 342464 Cognitive Dissonance
Cognitive Dissonance's picture

I found the problem.

"....saw no evidence that a mistaken order caused the plunge...."

They're looking for something that's not there. There was no "mistaken order" thus there are no mistaken orders to find. Neither will they find something called "liquidity" if they decide they need to look for that because that too was missing last Thursday. You can't find what isn't there and you can't see what you're not looking for.

That was easy. Where do I send the bill?

Mon, 05/10/2010 - 20:53 | 342521 ZerOhead
ZerOhead's picture

Very astute observations as usual CD...

Seems there are a lot of things missing from the markets these days... don't forget transparency, regulation, level playing field, me...

Mon, 05/10/2010 - 22:21 | 342659 Gordon_Gekko
Gordon_Gekko's picture


Tue, 05/11/2010 - 01:27 | 342857 timhinchliff
timhinchliff's picture

Thats it alright CD. What we need is like that submarine sonar where they look for patches of water with no noise as thats where the baddy subs are. We just need to look at patches of market where nothing is happening. Thats where everything will be hiding, liquidity, mistaken orders, a strong economy, Lehman bros and all the bad trades I have ever made. It all makes sense.

Just remember: Nothing to see here.

Mon, 05/10/2010 - 22:42 | 342688 Problem Is
Problem Is's picture

"Never underestimate the moronisphere."

The difference between an idiot and a moron?
The moron thinks he knows what he is talking about...

Between-ness Axiom #1

Mon, 05/10/2010 - 18:52 | 342270 dumpster
dumpster's picture

on a bell curve those in government service

are at the very end on the sorry side of the curve

Mon, 05/10/2010 - 18:54 | 342276 dumpster
dumpster's picture

especially the appointed ones.

they are there as a favor for a political donation,

wear good looking suits, ties ,  shine their shoes .

and spit  

Mon, 05/10/2010 - 19:36 | 342363 ghostfaceinvestah
ghostfaceinvestah's picture

Yeah, TD is wrong in assuming the SEC is trying to find the issue.  They aren't.  They already know why the market tanked.

Mon, 05/10/2010 - 22:44 | 342694 Problem Is
Problem Is's picture

Too much SEC porn downloading was hogging all the bandwidth pushing the HFT trading data right out into the street?

Mon, 05/10/2010 - 21:01 | 342537 ZerOhead
ZerOhead's picture

The timing is the giveaway...

Mon, 05/10/2010 - 19:06 | 342294 Dr. Cordell
Dr. Cordell's picture

Same attitude is kicking around NYSE Market Surveillance.  Tried as best I could to remove heads from asses, but it just didn't seem to take.  Friday's my last day, sorry everyone.

Mon, 05/10/2010 - 19:20 | 342320 dumpster
dumpster's picture

DR,, nice try

sorry to see some one go who had a clue,


Mon, 05/10/2010 - 19:11 | 342303 Brett in Manhattan
Brett in Manhattan's picture

Whoever was responsible was aware of the circuit breakers and worked around them. At the NYSE, trading is halted after a 1050 drop, UNLESS it occurs after 2:30 then the drop increases to 2150 before trading is halted.

Didn't the drop take place at 2:40?

Mon, 05/10/2010 - 19:13 | 342304 partimer1
partimer1's picture

They really should listen to that panic audio from the pit.

Mon, 05/10/2010 - 19:17 | 342310 tippy
tippy's picture

I don't think it was a computer glitch. A Black Swan event of unknown magnitude waiting to surface sounds about right.


Mon, 05/10/2010 - 19:18 | 342314 Janice
Janice's picture

The banksters took it down, mafia style intimidation

Mon, 05/10/2010 - 19:21 | 342324 Trial of the Pyx
Trial of the Pyx's picture

I am calling it a "weapons grade liquidity withdrawal demonstration"


WWIII, transnational capitol vs. everything

Tue, 05/11/2010 - 09:07 | 343201 wiskeyrunner
wiskeyrunner's picture

You correct, Janice.

Mon, 05/10/2010 - 19:30 | 342331 BlackBeard
BlackBeard's picture

That retarded HFT girl that got torn up by Saluzzi about a year ago reemerges on CNBC:



She is still incomprehensible and stupid sounding.


Oh yes, and Joe makes a guest appearance to stomp on her head yet again.

Mon, 05/10/2010 - 20:10 | 342436 CPL
CPL's picture

Glad joe was in the thick of it.  The only thing that bugged me was the closing comment on her starting to blame people putting in a stop loss.  How is leaving instructions are a share now a captial offense?


It was interesting that nobody mentioned the blindingly obvious.


Turn off the HFT server racks and ban them outright.  This is "correction" number five in four years (1 in 2007, 2 in 2008, 1 2009 and now 2010).  Now we are waiting for glitch number 6.

Mon, 05/10/2010 - 20:53 | 342526 CD
CD's picture

Here is another gem from Sept. 2009 (!) from Ms. Irene Aldridge and Jon Stewart's crew:


Some people you just can't get through to, no matter how many times the obvious hits them over the head.

Mon, 05/10/2010 - 19:33 | 342355 Roger O. Thornhill
Roger O. Thornhill's picture

I predict the final outcome is that Martha Stewart goes back to jail.

No point in dealing with the Goldman or JPM corruption.

Just put Martha back in jail. The public will be satisfied, and the casino can keep going strong.

Mon, 05/10/2010 - 19:37 | 342365 ghostfaceinvestah
ghostfaceinvestah's picture

Or charge Mark Cuban again for putting up a bailout watchdog site.

Mon, 05/10/2010 - 19:56 | 342410 JoshRoman
JoshRoman's picture

Bingo -- "down 5 to 10% in a day"..."the bids just won't be there" (starts at 4:50)


Mon, 05/10/2010 - 20:24 | 342466 Thalamus
Thalamus's picture

When you inflate something way above fair value you have to be prepared for Jack or Jill to start rolling off the hill in quick fashion. There's nobody obligated to buy a collapsing stock market except the PPT, who stepped in via its surrogate banks and propped things up at -982.

Mon, 05/10/2010 - 21:19 | 342560 Nikki
Nikki's picture

Is it a market if it run buy gangsters, computers and our government ?. It is passd time to scurry to the sidelines with whatever cash you have and order more bullion and brass. $1 Trillion reeks of a desparation move because it isn't working and they can't bear to try what is really needed. So they continue to socialize the losses and privitize the gains.

The biggest racketeering operation of all time. Generational theft and wealth transfer to the few.

Mon, 05/10/2010 - 21:31 | 342581 dark pools of soros
dark pools of soros's picture

did HFT take down www.transvestitemidgetporn.com ????  

Mon, 05/10/2010 - 21:34 | 342589 wawawiwaa
wawawiwaa's picture

Everyone is so upset. Show you are really upset by: 

Taking your money out of the BANKS

OUT OF THE 401K Plans

RIP UP your credit cards

Pay off the mortgages

Refuse to pay 40k a year tuitions for which you need to get indebted 

Etc Etc 

That is the way to get upset: To not play the game. It is your money. 

How much money has anyone actually made from their IRA's 401 etc etc over and above the contributions? Probably nothing so just say no. 


The final thing would be to hold legislators accountable not these phony inquiries they organize. I am talking about holding people accountable to the law like for example when Rangel who writes the tax code messes up his tax returns. What was the Punishment. 


NOTHING and so it goes and so it goes. 



Mon, 05/10/2010 - 22:21 | 342657 Jesse
Jesse's picture

"...the SEC could be excused for not reading blogs or anything else that is not linking externally from www.transvestitemidgetporn.com."

OMG, your site is the wind beneath my wings.


Mon, 05/10/2010 - 23:13 | 342719 Tripps
Tripps's picture

folks, take your money out of the market if you can't handle it. saluzzi is right.....dangerous rigged game on one hand, dangerous illiquid game on the other.



Tue, 05/11/2010 - 00:53 | 342818 Burnbright
Burnbright's picture

And then there is gold in someone else's hand.

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