This page has been archived and commenting is disabled.
Just because it may be time to rebrand the Recovery Fund. Don't be surprised to see some barbell cross-asset liquidations as the BofA bloodbath continues.
- advertisements -
Contact Information:
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Suggested Reading:
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
It would be very wise of you to study our disclaimer, our privacy policy and our (non)policy on conflicts / full disclosure. Here's our Cookie Policy.
Paulson to company: Bend over.
Hopefully they replaced C and BAC with AAPL and GOOG.
That list is plainly out of date; I don't see *any* Chinese solars in there at all. That Paulson guy is going to lose his street cred if he doesn't watch it.
Countrywide...
The gift that keeps giving.
Angelo just settled a few days ago with stolen funds ... I wonder what lil' birdie wispered in his ear...?
"No one can do what Countrywide can..."
See their commercial:
http://www.youtube.com/watch?v=3Np1XDRRsSM
Paulson = Algo's front run gold
Whats his CDS exposure though?
I can't imagine he's a hedgeless horseman.
And gold is getting smoked today too - troublesome evening for Mr. Paulson.
Damn, look at all those bank stocks. It's like a who's who list of all the companies that will see the lions share of the putbacks.
I guess payback really is a bitch.
Paulson will get what's coming to him. He expedited the death of AIG and Lehman in conjunction with GS be naked shorting them in 2008 to induce payouts on his CDS.
So fitting for him to lose half his "Big Short" profits being long the financials. Even Steven baby.
Blame Lehman's demise on Lehman, or if you must see them as an innocent victim, blame their clearing bank. Goldman had nothing to do with it.
AIG can only blame their models.
I hold Lehman responsible of course but the other banks ensured it by naked shorting them to death and that is why no bailouts were permited for Lehman but for everyone after.
GS would have gone under without the AIG CDS payout.
BAC had the Fed handgun to their head to Buy Merrill which would have followed right after LEH.
They can all say " we didn't deserve this" but we know the truth.
As Will Munny says in Unforgiven " We all have it coming"
All of Wall Street has it coming.
"Deserves got nothin' to do with it." Honestly not trying to be a jerk here. You are entitled to your own opinion.
Goldman bought CDS on AIG because AIG wasn't honoring their collateral calls in 2007. It was pretty much the only way to cover the risk to their book all those CDOs that AIG insured. I don't see why Goldman should be blamed for this. Any person in their right mind tries to cover their ass when bullets are flying.
How did shorting Lehman cause them to go under? I think they went under because they were insolvent. Couldn't secure funding to cover their losses. Possibly their clearing bank put the nails in the coffin by invoking their legal right to cut ties with them.
We all see how controlled the markets are to the upside so my contention is the violent downside was exacerbated to purposely cause the chaos that ensued. I did not say Goldman caused their BK I meant they expited it.
Why is it that under no circumstances could Lehman get public money?
Then when it was determined that AIG was on the hook
to GS for billions public money was suddenly viable.
GS and the rest of the banks are levered to high heaven right now to falsify the upside so they would also be deserving of getting caught with the pants down.
Goldman in my opinion obviously has the necessary protection to ensure they were paid 100 cents in the dollar for their CDS positions.
I think Lehman went under because the Fed, as now, didn't know what it was dealing with.
AIG was bailed out because the Fed suddenly painfully knew that if AIG caved, the whole financial system would have caved with it.
I don't think there were any plans or mob-type hits on Lehman. Sweetheart deals happened because they had to be done over the space of a few hours. Reputation mattered more than anything else in these types of negotiations. It didn't look like there was time to do things any other way and save the financial system.
Capitalism needs capital. Capital needs a financial system. The system should probably be different from the one we have now, but give that some time.
True, crazy leverage is bad, but plenty of everyday people carry more leverage than a Wall Street bank.
I believe the Fed or Treasury was the one that PVed (made Goldman 100% whole) those CDS. Goldman was negotiating for far less when AIG went under. Someone more informed can do better than I on this point.
You might be right that they did not know what the repercussions of a Lehman failure would be.For them to 180 ever since to the degree we see today a week later seems overt. You are correct GS was willing to take a haircut on the CDS but the NY FED if I recall said " hey no worries" That is why I do not trust this system. In my heart I believe GS and Paulson were spreading rumors and naked shorting to assasinate Lehman because the controlled rise since then only resembles the controlled decline during that period of time.
I don't know why you Maxine Waters-types refuse to believe that Goldman had it's AIG-exposure well-managed as well. They did. While it's true that GS would have probably gone under has the U.S. government not stepped in to bail out the financial system, the other thing people fail to note when they say that is that the commercial paper market would have ground to a halt, there would have been a run on every bank, and a 20-25% contraction in GDP would have ensued in the course of about a week. GS would have only gone under had several other large bank counterparties gone under, in which case, I think there's a pretty good chance that McDonald's and Kroger, for example, would have also gone under. So tired of people ranting about GS. What the govt did in the case of GS doesn't even come close to GM, GMAC, Fannie, Freddie, and AIG. Period.
Maxine Waters?
The woman with a sweettart for a brain and a husband who is a recipient of TARP? Simply because Goldman commits lesser evils it is acceptable to use GS agent plants such as Kashkari & Paulson to assure Lehman dissolves as competition and strong arm Congress into a bailout under threat of martial law?
Do you dispute the reach of their influence? If you do then I suggest you look up to see who the #2 contributor to the President's campaign was and while you are it perhaps remind me of who assembled those CDO's for Paulson and escape with a slap on the wrist and public scolding.
Those who are party to defrauding our nation should have gone bankrupt. Your statement about McDonald's is asinine because if the Fed was really concerned about being the lender of last resort they could have stepped behind any American company that actually produces and mailed every American family 100k cash and still permitted banks to fail.
There is a stark contrast between backing an institution to unwind trades and inject liquidity and ensuring they are rewarded for nearly destroying our nations capital markets while granting them all judicial immunity.
Also keep in mind McDonald's actually PRODUCES for the economy and does not merely move shells while banks privatize gains and socialize losses.
Hell yeah. Dont let them talk themselves out of the dock, those Benjamin Linuseseses.
That is such horse-shit; check out Lehman's leverage ratio before the BOOM, it was absolutely inevitable.
Same for AIG who were very simply the sucker at the poker table but didn't realise it 'til they saw the River.
edit: just saw your next reply, I agree, my bad.
Aside from being an indicator of general confidence, why does it matter what Lehman's stock price is? Lehman at $0.01 or Apple at $0.01 doesn't impair a profitable business model.
They hadn't filed for any secondary offerings during those summer months.
I don't know why he would need to be naked short... there was plenty to borrow those last couple of weeks. I was able to buy all the puts I wanted even up to that Friday, too.
i guess he traded in his GLD for shares of junior miners
Starting to feel like October!
BAC -.33 hardly a rout - call me when they down at 11 - one of the pompus fast money tools was out of his BAC shorts at middday due to good AAPL earnings.........hahahhahaaha
Brian sack in big spoo pit...game on!
Not too diversified.
Tyler, GLD is not on the Paulson list, though it is his number one holding:
Company Class Valueof Shares
($1000) Change
in Value
($1000) % Change
in Value Shares
Held SPDR GOLD TRUST GOLD SHS $4,229,820 $0 0.00% 31,500,000 CITIGROUP INC COM $2,112,939 $0 0.00% 506,700,000 BANK OF AMERICA CORPORA... COM $2,070,581 $0 0.00% 167,794,229 ANGLOGOLD ASHANTI LTD SPONSORED ADR $2,057,119 $0 0.00% 43,749,864 HARTFORD FINL SVCS GROU... COM $1,067,440 $758,125 245.10% 44,000,000 COMCAST CORP NEW CL A $836,440 $0 0.00% 44,000,000 SUNTRUST BKS INC COM $749,796 $0 0.00% 30,380,700 CAPITAL ONE FINL CORP COM $632,910 $0 0.00% 17,000,000 KINROSS GOLD CORP COM NO PAR $621,706 $0 0.00% 33,140,000 EXXON MOBIL CORP COM $607,738 ($3,854) (0.63%) 9,169,259 MYLAN INC COM $568,200 $352,850 163.85% 30,000,000 BOSTON SCIENTIFIC CORP COM $496,000 ($118,637) (19.30%) 80,000,000 MGM RESORTS INTERNATION... COM $489,246 $42,446 9.50% 43,800,000 WELLS FARGO & CO NEW COM $435,225 $0 0.00% 17,500,000 PFIZER INC COM $405,840 $128,160 46.15% 22,800,000 GOLD FIELDS LTD NEW SPONSORED ADR $377,345 $7,845 2.12% 24,050,000 APACHE CORP COM $361,590 $0 0.00% 3,400,000 AMERICAN CAP LTD COM $281,589 $281,589 New 43,725,000 FAMILY DLR STORES INC COM $274,380 $0 0.00% 6,000,000 JPMORGAN CHASE & CO COM $267,400 $0 0.00% 7,000,000 1 2 3 4 Next Page 1 of 4
Not a tradeable security. It is the mechanism to represent the gold-denominated class. The fund could implode and GLD would stick through the end (absent 100% redemptions).
Yipeeee! Open the gate boy's! Let r rip! "Tip toe o'er the tulips..."
He was a one hit wonder. A really big hit, a bases loaded blast but alas it was one hit and he would have sunk into obscurity but for the curious human belief in buying the big mover after the big move has been made.
It wasn't even his own hit, it was brought to him by his analyst (who is not longer with him).
If I hate anything more than frontrunning than it´s "braniacs" like Paulson & gang cornering the markets. "The FED will make everything go up". Oh yeah, Paulson, for you - only for you, buddy !
Wot no AAPL or AMZN???Wtf!!!
BSX was $25/Sh in 2006 and has sloped down to $5 plus change today. I wonder what Paulson knows. Could be worth a gamble.
BTW - Last stock I chased like this was MNC (Monaco Coach) they went bankrupt. House wins.
Monaco Coach LOL, I remember that one. A real turkey. "luxury McMotor-Coaches"
its almost as if when he was getting investigated for being the proxy behind the bad loans, he promised the fed yeah ill set up a lousy fun that buys your bank crap if you just let me run my gold funds without busting my cahones.
Is this a joke? BofA's putbacks make them fuxed. Everything else except the gold is fsckd. How does this make P&C not totally gerried, rogered, marked and dicked?
Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic.
cheap vps
windows vps
cheap hosting | ucvhost