Bond dumping and Berlusconi

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Thu, 11/10/2011 - 04:41 | 1864966 mbtshoe
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FDIC loan loss sharing details are a total taxpayer ripoff to big money types and billionaires like Soros, Dell, GS execs.   Look up OneWest Bank started by those guys.   FDIC sold them a portfolio at up to 50% discount and the FDIC backs up to 90% of losses, not based on what OneWest paid, but the ORIGINAL amount of loans.  OneWest makes more money not working out any loans and letting them foreclose and cashing in from the FDIC.









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Tue, 11/08/2011 - 20:05 | 1858870 Hedge Fund of One
Hedge Fund of One's picture

I have been wondering who is buying those bonds? I thought ECB had stepped aside, but maybe not.


Tue, 11/08/2011 - 19:25 | 1858750 Buck Johnson
Buck Johnson's picture

They can't even sell bonds for the EFSF, much less bonds from sovereign countries.  They are playing musical chairs and they are about to find out what happens when there is no chair.

Tue, 11/08/2011 - 17:24 | 1858305 gangland
gangland's picture

get your shit stright idiot yesterday you were shilling europe on the 'mend'

Tue, 11/08/2011 - 20:44 | 1858984 Zero Govt
Zero Govt's picture

he's just hedging ...

...which now CDS's are effectively wiped-out in Europe is more than Goldman Sucks is !!

Tue, 11/08/2011 - 13:51 | 1857065 Georgesblog
Georgesblog's picture

We should at least study the lessons of history. If we recognize development, before events happen, we can prepare safeguards and make decisions

Tue, 11/08/2011 - 20:15 | 1858899 Zero Govt
Zero Govt's picture

Bombs Away 

prepared for that? ...can you catch a falling sovereign debt market???

Tue, 11/08/2011 - 12:29 | 1856735 falak pema
falak pema's picture

when the saints go marching in...they lose their halos and their triple As. Hell's kitchen is not for saints, its for sinners. The day you lose your triple A you go from saint to sinner. 

Berlu is already in purgatory on his way to wherever you go once your bunga costs more than it brings home.

Tue, 11/08/2011 - 17:03 | 1858183 upWising
upWising's picture

Old Fr. O'Malley, Pedophile Old Bastard that he was, always told us at ST Bridgit (of Sweden!!) School about LIMBO, where unbaptized babies go, or at least USED to go.  I think the Holy Mother Church, in her Infinite Wisdom, has decided that LIMBO either never existed, is full, or has been Rebranded or Redeveloped (like a really bad Chicago Housing Project.)  Timeless Truths, and all that. [Kind of like all the people who are rotting in Hell for a bite of Beef jerky because they thought it was Thursday and it was really Friday.]  Anyway.....

Is it possible that LIMBO really DOES exist, and we could send all the SIV's, CDO's, EFSF, and other "Innovative Super-Leveraged Financial Products" to LIMBO so the Unbaptized Babies would have something to play with?  I think LIMBO was a kind of timeless place where clocks stood still.

Maybe if we all went down and lit one of those BIG $2.00 candles and said a bunch of Hail Mary's.....


Tue, 11/08/2011 - 11:44 | 1856502 Tramp Stamper
Tramp Stamper's picture

So what is the outcome if everyone is selling sovereign bonds at a loss, nobody will show up at the future auctions because nobody will want that trash.  Who is going to be the future buyer ECB?  Forever?

Tue, 11/08/2011 - 12:03 | 1856618 Rogier
Rogier's picture

The ECB is not allowed to buy bonds in the primary market, it can only operate in the secondary market. But your question is valid: who will buy the 30 billion in new bonds that Italy is planning to sell later this month? Tyler, care to comment?

Tue, 11/08/2011 - 14:32 | 1857347 NotApplicable
NotApplicable's picture

So, in other words, a primary dealer gets to front-run them for easy money from the ECB's magic checkbook (and The Bernank's, of course).

Tue, 11/08/2011 - 12:45 | 1856787 falak pema
falak pema's picture

quick send paul krugman to the moon! For help.

Tue, 11/08/2011 - 10:50 | 1856266 Georgesblog
Georgesblog's picture

This illustrates the point that war is a commercial action. The target ion the Debt War is national gold reserves.  The weapon is paper.

Tue, 11/08/2011 - 12:32 | 1856749 falak pema
falak pema's picture

wow marc Faber think they can kick the can for eleven more years. Now based on that vote O'bammy and Sarkozy. WHat a bore!

Tue, 11/08/2011 - 20:50 | 1858996 Zero Govt
Zero Govt's picture

11 years of can kicking... No/Zero Chance

by end of 2014 all US and Eurozone Govt debt will be toast

Tue, 11/08/2011 - 10:27 | 1856170 f16hoser
Tue, 11/08/2011 - 13:58 | 1857106 Vaiman
Vaiman's picture

Now that's being hung out to dry.

Tue, 11/08/2011 - 21:01 | 1859024 GOSPLAN HERO
Tue, 11/08/2011 - 21:29 | 1859099 penisouraus erecti
penisouraus erecti's picture

Very true.

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