Financial Services Authority
Just as it is easy being a weatherman in San Diego ("the weather will be... nice. Back to you"), so the same inductive analysis can be applied to another week of stocks in Bernanke's centrally planned market: "stocks will be... up." Sure enough, as we enter October's last week where the key events will be the conclusion of the S&P earnings season and the October FOMC announcement (not much prop bets on a surprise tapering announcement this time), overnight futures have experienced the latest off the gates, JPY momentum ignition driven melt up.
A report just out by Coutts (the private wealth-management bank) has pointed the wagging finger at British rich and famous, the millionaire’s club for not protecting their wealth enough.
Free Advice Is Sometimes Worth More Than You Paid for It. On That Note, Irishman... Take Your Money And Run!!!Submitted by Reggie Middleton on 07/05/2013 09:46 -0500
Don't consider this investment advice, but if you leave your money in this bank after reading this article then your a fool who deserves to lose every euro that gets confiscated. Just my personal opinion, of course.
An unprincipled, deceitful, unreliable scoundrel. A vicious and solitary animal. An organism that shows a variation from the standard. What are we talking about? Rogue Traders! Does the cap fit?
Angela Merkel Should Talk To Me If She's Truly Enraged By The Anglo Irish Revelation, For That's Just The Beginning!Submitted by Reggie Middleton on 07/02/2013 06:24 -0500
Tell Angela Merkel that the guy that warned of Bear Stearns, Lehman Brothers AND Anglo Irish of which she laments, is also warning of Anglo Irish Bank among other Irish institutions - all funded by Germans through Irish austerity!
The Plight Of Europe's Banking Sector, Its €650 Billion State Guarantee, And The "Urgent Need" To RecapitalizeSubmitted by Tyler Durden on 06/15/2013 11:37 -0500
Since the topic of quantifying how big the sovereign assistance to assorted banks - both in Europe and the US (which Bloomberg calculated at $83 billion per year) - has become a daily talking point, we are happy to read that Harald Benink and Harry Huizinga have reached the same conclusion as us in their VOX analysis, and further have shown that in Europe the implicit banking sector guarantee by the state is a whopping €650 billion. "Europe has postponed the recapitalisation of its banking sector for far too long. And, without such a recapitalisation, the danger is that economic stagnation will continue for a long period, thereby putting Europe on a course towards Japanese-style inertia and the proliferation of zombie banks... Banks are already saddled with ample unrecognised losses on their assets, estimated by many observers to be at least several hundreds of billions of euros and mirrored by low share price valuations, and an additional loss of their present funding advantage will be crippling."
If Cyrpus blew up with bank assets/GDP leverage of 700% & Iceland blew up with leverage of 880%, what should we expect from Scotland @ 1,250%? Of course, this leverage number likely excludes those top secret charges I found last month...
Think frontrunning clients, trading against recommendations, manipulating LIBOR, and slamming gold at the London fixing is all investment bankers do? Wrong. What really happens in banker life is far more exciting and enjoyable (at least for preferred banker clients) as the following story by the WSJ's David Enrich shows. In reality, the activities that bankers seem to spend the most time on, is treating their "preferred clients" with free gambling trips to Las Vegas, skiing in Chamonix, flying wives and girlfriends in helicopters, doing blow in industrial amounts, and, of course, cavorting with strippers and hookers. All paid for by some unwitting clients of course. It is this environment of utter and perfectly permitted, if not encouraged, debauchery that allowed scandals such as the Libor fixing "conspiracy" (first theory, then fact of course), to flourish, and which makes being a banker still the most desired job in the world (contrary to beliefs that it was all about the passion of crunching goalseeked DCFs at 2 am in the morning).
Central Bank governor now admits Irish banks need more capital. As the truth seeps slowly into the mainstream media, who do you believe - Reggie or the Central Bank of Ireland?
There's never a good lawyer around when you really need one! With a 96+% (tens of $billions) loss to equity investors, one would think law firms and regulatory bodies would be chomping at the bit for this one!
I Illustrate How The Irish Banking Cancer Spreads To The UK Taxpayer And Metastasizes Through US Markets!Submitted by Reggie Middleton on 04/12/2013 10:45 -0500
And you thought this would stay in Ireland and Cyprus right? Keep hope alive. RBS bailout per UK taxpayer = £1,414 or €1,654 or $2,177. but they didn't tell you everything, did they?
One really wonders why people have lately sold gold. It seems to make little sense in light of the widespread mainstream views on what the 'correct' monetary policy should consist of. Monetary cranks abound wherever one looks. The ultimate outcome of all this inflationary experimentation is preordained, so people have every reason to be very concerned about preserving the value their assets. Of course we are well aware that markets can often behave in an irrational manner for extended time periods. In fact, this is what allows astute speculators and investors to make profitable trades, as there are frequently opportunities created by the markets getting it wrong. In this particular case it is still astonishing, considering how blindingly obvious it is in which direction things are currently moving. Mr. Woodford wants to 'scare the horses'. We are wondering why they are not scared yet – but we suspect they will be soon enough.
How many important (or worse yet, systemically important) banks can fail to disclose pertinent debt info before it becomes evident that the tax payer/depositor/regulators/stress tester realizes they don't know the Irish banking system's true condition?
Dear Ireland (& AIB), Haven't We All Learned The Problem Is Insolvency, Not Liquidity? The Deeper You Look The More You FindSubmitted by Reggie Middleton on 04/03/2013 07:41 -0500
You know, there's never just one roach. The deeper you look, the more you're likely to find. Just sayin...
One Of Ireland's Biggest Banks Busted Fudging The Books? Nah! Busted Concealing Debt? Nah! Busted.. Cyprus Was Just The PreambleSubmitted by Reggie Middleton on 04/02/2013 08:59 -0500
Mounds of cold, hard, indisputable evidence not found ANYWHERE else! Damn, you thought Cyprus was newsworthy? Ireland already Troika'd & they're bigger than Cyprus. Depositor recap of banks looks inevitable if this research is right!