Weekly Credit Summary: August 14

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Fri, 08/14/2009 - 18:42 | 37443 Anonymous
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Some interesting developments from the ABA's Committee on Law and Accounting.

http://debtsofanation.blogspot.com/2009/08/debts-of-spenders-new-legal.html

Fri, 08/14/2009 - 19:01 | 37465 Anonymous
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Big thanks for posting the info. Wild guess is that the bond rally hit its yearly high last week. Now going to go the other way. This correlation may be too big for Benake to swallow. Either equities, bonds or the dollar. Something has to go.

Fri, 08/14/2009 - 22:35 | 37642 Anonymous
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I'm curious, when you mention that shorting the exhvol was your preffered trade, is that you mentioning it, or is that part of the daily credit summary service commentary?

thanks.

Sat, 08/15/2009 - 06:07 | 37751 Cheeky Bastard
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some crazy shit on bloomberg about banks  http://www.bloomberg.com/apps/news?pid=20601109&sid=aTTT9jivRIWE

Sat, 08/15/2009 - 09:19 | 37776 Anonymous
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CB
A question a bit of topic,..hope you don´t mind?
Does Z.H have any idea what role programtrading played in the stockmarket crash late 2008,..did someone pull the plug on Lehman,..is that even possible? Could it be staged again deliberately (if that was possible),...back then I thought it was free-market force at work,..I just can´t help doubting it anymore,..and it rather disturbs my perception of the world,...and since you guys are among the very few truthfull speaking whistleblowers out there, I don´t know who else would have a qualified answeer.
Please help,.I want my sanity back!

Sat, 08/15/2009 - 18:33 | 37896 Cheeky Bastard
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i would be more than glad to answer you, but i don't have ANY idea about that, since im not a WS insider. But if the HFT had the same percentage of volume in 08 as it does know, most probable solution is that when Lehman's stock started to go down on all the bad news, the algos went into selling mode and thus normally brought the Lehman's stock down. But it is not possible that LB went bankrupt solely for that reason. They had 40:1 Leverage and bunch of really shitty assets that were not performing; and the final blow was the Treasury decision not to bail out Lehman ( i don't know why ( hint GS ) since all the other banks even got bailed out or bought by larger banks ( BS,ML)). Also they reported a loss of 2.8 billion just a week before they filed for C11. Algos just did what they had to; they reacted to all the bad news and started selling. But all the traders did the same, so really there was nothing fishy going on there, but with the Treasury. If you want to know more details about that from the insider i suggest you ask some of the WS guys here ( Trader Joe, etc ) or send an e-mail to Tyler, and I'm sure he will be more than happy to answer your questions.

Sat, 08/15/2009 - 21:08 | 37958 D.O.D.
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Show me a sane man and I will cure him for you.
Carl Jung

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