Countrywide
Newsflash From The December 'Jobs' Report - The US Economy Is Dead In The Water
Submitted by Tyler Durden on 01/09/2016 15:45 -0500Here’s a newsflash that CNBC didn’t mention. According to the BLS, the US economy generated a miniscule 11,000 jobs in the month of December.
Frontrunning: January 6
Submitted by Tyler Durden on 01/06/2016 07:40 -0500- Obama, wiping tears, makes new push to tighten gun rules (Reuters)
- Global stocks hit by China worries, North Korea nuclear test (Reuters)
- Oil hits 11-year low, Saudi-Iran row cuts chances of output restraint (Reuters)
- North Korea says successfully conducts first H-bomb test (Reuters)
- Valeant Planning to Appoint New Leader as CEO Remains Hospitalized (WSJ)
- Treasuries Extend 2016 Winning Start With Growth Outlook Clouded (BBG)
The Big Short is a Great Movie, But...
Submitted by rcwhalen on 01/05/2016 11:00 -0500- Alan Greenspan
- Apple
- Arthur Levitt
- Bear Stearns
- Bond
- CDS
- Commodity Futures Trading Commission
- Corruption
- Countrywide
- Credit Default Swaps
- default
- Federal Reserve
- Gretchen Morgenson
- Housing Market
- Institutional Investors
- Lehman
- Lehman Brothers
- Market Share
- Meltdown
- Michael Lewis
- Morgan Stanley
- Mortgage Loans
- NASDAQ
- New Century
- New York Stock Exchange
- None
- OTC
- OTC Derivatives
- program trading
- Program Trading
- Subprime Mortgages
- Wachovia
- Washington Mutual
Derivatives like credit default swaps turned a mere bubble in the US housing market into a global financial catastrophe...
Guest Post: Has There Ever Been A More Selfish Generation?
Submitted by Tyler Durden on 12/27/2015 22:20 -0500Because we squandered our opportunity to correct our own problems, our problems shall be our legacy. It’s wretched how dumb we are in our greed to have everything right now in the cheapest way possible and how willing we are to force the debts of that consumption upon our grandchildren and to pretend that won’t hurt them. We live in economic denial.
Frontrunning: November 5
Submitted by Tyler Durden on 11/05/2015 07:38 -0500- BOE Stays Cautious on Rate-Hike Timing as Inflation Outlook Cut (BBG)
- China Enters Bull Market (WSJ)
- Britain says Islamic State likely brought down Russian plane (Reuters)
- Dollar jumps as markets fix on December rate expectations (Reuters)
- Activist Investor Bill Ackman Plays Defense (WSJ)
- BOJ Survey Data Reveals Signs of Growing Inequality in Japan (BBG)
- UAW Warns of General Motors Strike If Workers Fail to Approve Contract (WSJ)
Subprime Auto Goes Full-Retard: Lender Sells $154 Million ABS Deal Backed By Loans To Borrowers With No Credit
Submitted by Tyler Durden on 11/03/2015 15:36 -0500Remember Skopos Financial, the US subprime auto lender run by Santander Consumer veterans? Well, in a testament to just how desperate America is to perpetuate the US auto market "renaissance," the company just sold $154 millon worth of paper to investors partially backed by loans to borrowers with no credit score.
Paul Brodsky: "Expect The Unexpected. It Might Be Time To Duck And Cover"
Submitted by Tyler Durden on 10/30/2015 18:53 -0500Most investors don’t take kindly to change. “The market” chooses to stay in the here and now; each human component vibrant and alert while the whole is passive and inert…like a herd of wildebeests, protected by its mass and collective wisdom that each one of them is statistically safe from lions as long as they stay together.
Back From The Future: A Presidential Address At The End Of The Fourth Turning
Submitted by Tyler Durden on 10/22/2015 17:35 -0500"We know now just how wrong everybody was....and to the rest of the world: we are done with you. Yes we wronged you but we were driven by vain men who harmed us as well as you. Even the interventions across the globe were nothing more than a way to loot the treasury. In the guise of democracy and freedom we brought war and death. We are sorry. I am sorry."
As A Shocking $100 Billion In Glencore Debt Emerges, The Next Lehman Has Arrived
Submitted by Tyler Durden on 10/07/2015 16:27 -0500- Bank of America
- Bank of America
- Bond
- CDS
- China
- Convexity
- Counterparties
- Countrywide
- Covenants
- default
- Duration Mismatch
- Enron
- Glencore
- High Yield
- Housing Market
- Investment Grade
- Lehman
- LIBOR
- Mark To Market
- Market Conditions
- Negative Convexity
- ratings
- RBS
- recovery
- Standard Chartered
- Stress Test
- Switzerland
And now the real shocker: there is over US$100bn in gross financial exposure to Glencore. From BofA: "We estimate the financial system's exposure to Glencore at over US$100bn, and believe a significant majority is unsecured. The group's strong reputation meant that the buildup of these exposures went largely without comment. However, the recent widening in GLEN debt spreads indicates the exposure is now coming into investor focus."
Why Bank of America Just Cut Its Year End S&P500 Target To 2,000
Submitted by Tyler Durden on 10/05/2015 08:17 -0500"Tick... Tock"
Submitted by Tyler Durden on 09/12/2015 20:55 -05008 years to fix the malfunctioning heart of the world’s financial and legal systems but nothing was actually done... and now the clock is ticking and there is hardly any time left. The number of red lights now blinking at us, largely ignored by those who are supposed to be flying this thing, is growing all the time. It is not that any one of them is a clear harbinger of the end but taken together they paint a dismal and coherent picture – of a system eating itself. The world in which and for which our old system was built is now changing around it in fundamental ways.
Don't Look Now, But The Subprime Auto Bubble May Be Bursting
Submitted by Tyler Durden on 08/13/2015 19:15 -0500"Losses on car loans taken out by bad-credit borrowers are continuing to climb. What's driving the rise? Nomura has an idea."
Bank of America Trolls The Middle Class, Or How Wall Street Destroyed Main Street
Submitted by Tyler Durden on 06/26/2015 14:28 -0500Presenting: Bank of America's chart showing who the undisputed victor in that age-old war between Wall Street and Main Street, truly is.
The Real Reason Why There Is No Bond Market Liquidity Left
Submitted by Tyler Durden on 06/04/2015 20:58 -0500- Bank of America
- Bank of America
- Bear Stearns
- BIS
- Blackrock
- Bond
- CDS
- Central Banks
- Counterparties
- Countrywide
- dark pools
- Dark Pools
- Fail
- fixed
- Institutional Investors
- Insurance Companies
- Jamie Dimon
- Japan
- Lehman
- Mark To Market
- Mean Reversion
- Merrill
- Real estate
- Transparency
- Treasury Borrowing Advisory Committee
- Volatility
- WaMu
"Central bank distortions have forced investors into positions they would not have held otherwise, and forced them to be the ‘same way round’ to a much greater extent than previously... unless fundamentals move so as to justify current valuations, when central banks move towards the exit, investors will too.... The way out may not prove so easy; indeed, we are not sure there is any way out at all."
It's a trap!!
Submitted by dazzak on 05/13/2015 08:27 -0500Water, water everywhere,but not a drop to drink





