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Looks like his investments are faring about as well as his old firm.
You hear these rumors about a large bank failure? Put action in Wells is HEAVY: http://pragcap.com/unfounded-rumor-of-the-day-large-bank-failure
interesting. though I doubt they'd let one of their insider fat cats fail. my money would be on a eurobank... plurhaps something related to club med...
oh, ZERO % chance they'd let Wells fail. Less than zero % chance.
Joined at the hip so that when they go down they all go down together. Not that it won't preceeded by knee buckling, puking, arms falling off. etc etc.
But don't worry. If Wells is actually in trouble they will just merge it with some other large and troubled institution. You know, solve too big to fail with too bigger to fail. Fight fire with fire....In other words, epic fail.
Waiting for the FED to sing it's favorite song.
Seriously doubt Wells. That put action could easily be neutral.
Something among the Euro creditor nations makes a lot of sense, especially something with exposure to PIGS and/or Baltic.
CORS, but that's not news. My bet would be something like FDIC can't find a buyer for CORS and now has to go back to the well.
Also hearing something specifically about Cerberus. Good riddance.
None of this is tradeable, in my opinion.
Wow my system were re working again. lol Flashing trade were bann today. Maybe it's why!!
good articles; good articles 4 slow news day ..http://www.. hat tip: finance news & finance opinions
Cops losing their pensions.. look out crips there is a new gang in town.
Teacher's too?! As in my wife?!
The wannabe crips are already in the classroom and younger than you might think.
Yes agree, but mere wannabes when the cops go rogue. Yes, I know the baby gangsters are out there but when the law goes lawless they will be the first to go.
I'd like to put a 300k bid on a 2-bedroom. What are the chances my bid will be hit?
Where'd you learn how to bid son...I know, you ran the CDOsq desk at Lehman during the '03-'06 run....j/k
Have some balls... I'm a $25k perma bid....cause
I'm a rocket man....
sorry Shatner commercial was just on.....
I'll be on the bridge...
... But Captain, we don't have a bridge
WHY THE HELL AREN'T I NOTIFIED ABOUT THESE THINGS!!!
I don't know, but the chances of you , personally , getting hit are rising by the minute.
lol....all joking aside... why would you want to step in front of anything right now (especially the housing market)?
Prices are not going up and won't for quite a while. Time is on your side.
Never deploy capital during a credit crunch. Only after the previous cycles debt has been purged from the system and the new rules of the emerging cycle have been established should you step into the market with any conviction.
- hint we are neither at the end or in the middle of this credit crunch.
That the SBA is carrying their investment at zero and Blackrock (as well as others, I'm sure) is carrying it at a higher value is a serious issue. How does that get reconciled?
FAS 157 and FAS 157 E. IF L3 asset (or poss L2) - classified, so long as there isn't a transaction, Blackrock (or whomever valuing > $0) isn't in "violation" with FASB guidelines. Actually, and I'd suggest checking with people like Francine @ re:theauditors, but my understanding of FASB guidelines is that even if there were a transaction, "distressed" or otherwise, other parties holding same/similar securities don't necessarily have to adjust their carrying value.
Welcome to The Matrix; just remember, there is no spoon.
Watched CNBC this morning for the first time in quite awhile.
It's all about personalities, who says what. They barely cover market action. Finally I turned the sound off and watched the tape - which is mostly comprised of derivative stocks and bank shares.
I guess the public pensions at least give accurate information since the taxpayers will make good on any losses to their defined benefit schemes. The bizzaro "Enron" accounting used by the banks hopefully will get phased out at some point.
That was the flare signal early this morning. IYR was way, way down ahead of the market (along with the CRE exposed regionals). DRV is due for some covering.
RMZ doesn't have anything tishman speyer related in it. The only blow would be to other REITs that have to drop trou in response to this sinking ship pulling them down.
it's banco santander in spain
They'd just as well merge Wells and Citi then.
That union has "epic fail" written all over it.
This is in response to TPC, post #55201
bank? whispers re: SSgA and SEC Wells notice
didn't they receive a wells back in june?
the desperation at 1000 is palpable, wow...it's like watching someone hanging by their fingernails 100 stories up. Will they turn into Spiderman at 3:30?
That explains why my property taxes just JUMPED 30%. All these "smart" managers should loose their jobs along with the money. Now if they had 'invested' in Florida instead of New York, maybe FL would not be such a basket case right now. This " conservative" state government spent for the last few years like drunk sailors. Civil servants are DEMANDING a buyout, like fat cat bankers, or salary increases right now. Wake up Florida your suffocating the last 10 people in the state with a dollar in their pocket to make up the for losses and shortfalls, and greed from your own stupid behavior. 250 million would have bought a nice university campus, or industrial campus...or GOD forbit working class HOUSING , but those are liberal ideas. No boubt someone got a nice vacation thank you gift, for the investment in Stuy Town.
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