US Bancorp

Tyler Durden's picture

Chinese Stock Plunge Resumes With 1200 Stocks Halted Limit Down; Yellen, Greek Elections On Deck





Just when the Chinese plunge protection team (and "arrest shortie" task force) seemed to be finally getting "malicious selling" under control, first we saw a crack yesterday when the composite broke the surge of the past three days as a result of yet another spike in margin debt funded purchases, but it was last night's reminder that "good news is bad news" that really confused the stock trading farmers and grandmas, which goalseeked Chinese economic "data" beat across the board, with Q2 GDP coming solidly above expectations at 7.0%, and retail sales and industrial production both beating, but in the process raising doubts that the PBOC will continue supporting stocks.

 
Tyler Durden's picture

The Crony Capitalist Pretense Behind Warren Buffett's Banking Buys





When Warren Buffet put $5 billion in Berkshire Hathaway funds into Goldman Sachs the week after Lehman failed, amidst total turmoil and panic, it appeared from the outside a high risk bet. Buffet had long tried to portray himself as a folksy engine of traditional stability, investing only in things he could understand, so jumping into a wholesale run of chained liabilities may have seemed more than slightly out of character. We have no particular issue with Buffet making those investments, only the pretense of intentional mysticism that surrounds them. The reason the criticism of crony-capitalism sticks is because this was not Buffet's first intervention to "save" a famed institution on Wall Street. If Buffet's convention is to stick with "things you know" then he has been right there through the whole of the full-scale wholesale/eurodollar revolution.

 
Phoenix Capital Research's picture

Corporate Revenues Miss, a False Breakout in the S&P 500, and Europe's Canary in the Coalmine is Out Cold





 

Investors take note, the markets are sending multiple signals that things are not going well in the world. Stocks are always the last asset class to realize this.

 
 
rcwhalen's picture

Tail Risk: Kamala Harris Declares War on Lenders, Loan Servicers in CA





Work in the mortgage market?  Never read about Kamala Harris or the  CA "Home Owner Bill of Rights?"  Read on....

 
Tyler Durden's picture

2012 Year In Review - Free Markets, Rule of Law, And Other Urban Legends





Presenting Dave Collum's now ubiquitous and all-encompassing annual review of markets and much, much more. From Baptists, Bankers, and Bootleggers to Capitalism, Corporate Debt, Government Corruption, and the Constitution, Dave provides a one-stop-shop summary of everything relevant this year (and how it will affect next year and beyond).

 
rcwhalen's picture

TAG: More Subsidies for the TBTF Banks? You Bet





Why does the Big Media other than WSJ refuse to report on the TAG subsidy grab by the largest banks?  

 
rcwhalen's picture

Earnings Setup -- JPM, WFC, C, BAC





Reports that the housing sector is recovering has generated more than a little irrational exuberance among investors regarding financials. 

 
Tyler Durden's picture

Soros Gold Action Speaks Louder Than 'Bubble' Words





George Soros more than doubled his shares in the SPDR gold trust ETF. He increased his position in SPDR Gold to $137.3 million in the second quarter from $52 million previously. SEC filing for the second quarter showed Soros Fund Management more than doubled its investment in the SPDR Gold Trust from 319,550 shares to 884,400 shares at the end of June. In September 2010 (see chart), Soros called gold "the ultimate bubble" and largely dumped his stake in the ETF before gold recorded annual gains in 2010 and 2011 and rose to a nominal high of $1,920.30 per ounce in September.  There was speculation at the time that he may have sold the SPDR trust in order to own far safer allocated gold bars. Another billionaire investor respected for his financial acumen is John Paulson and Paulson & Co increased its holdings by 26% by purchasing an additional 4.53 million shares of the SPDR Gold Trust to bring entire holding to 21.8 million shares.  It was the first time Paulson & Co had increased its position in the SPDR Gold Trust since the first quarter of 2009, when the investment firm initially acquired 31.5 million shares. It means that Paulson's $21 billion hedge fund now has more than 44% of the company's assets allocated to gold.

 
rcwhalen's picture

Creative Destruction: US Bancorp Buys Failed Institution in TN





On Friday the FDIC reminded us that the banking crisis continues, closing and selling several institutions in arranged transactions.   This may seem gloomy news, but please note that the shareholders of the acquiring institutions just made a lot of money.

 
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