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January 20 Early Headlines
Submitted by Tyler Durden on 01/20/2009 14:03 -0400- The pound is dead, long live the pound (Bloomberg)
- Banc of America expected to cut up to 4,000 in its capital markets group (CNBC)
- UAW's Ron Gettelfinger "Deadline may be almost unattainable" (Detroit Free Press)
- Fiat getting 35% of Chrysler, forming global alliance (
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REITs Next To Receive Bail-Out Funding?
Submitted by Tyler Durden on 01/20/2009 20:46 -0400REITs are in trouble. Let me paraphrase that - REITs are in very big trouble. These companies whose very existence presumes significant equity value in their underlying investments are feeling a lot of pain these days with commercial mortgages on the verge of a default tsunami.
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Citi About to Bear the Brunt of Moody's Anger
Submitted by Tyler Durden on 01/16/2009 21:27 -0400Tha company has been put under review for a downgrade by Moody's.... What can you say - always one step ahead of the crowd. Their Prime Rating is most at risk at A-2. If this gets whacked several notches, no more access to commercial paper... Oops
*********UPDATE**********
Moody's just downgraded Banc of America/Merrill Lynch senior rating to A1 from Aa3. Kinda like Lehman was rated A1 on the day of its bankruptcy.
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$100 Trillion Note Unveiled in Zimbabwe
Submitted by Tyler Durden on 01/17/2009 20:43 -0400
It has been 4 days since we demonstrated Zimbabwe's recently issued $50 billion note...
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Death Watch: Greece, and What Its Default Could Mean
Submitted by Tyler Durden on 01/19/2009 20:35 -0400
The biggest threat to the U.S. Obama rally and the miracle recovery proposed by Democrats in the $825 billion bail out package may possibly reside about 6,000 miles away in Greece.
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State Street Next Blowup?
Submitted by Tyler Durden on 01/20/2009 14:18 -0400State Street (STT) stock tumbled 33% in premarket trading (last at $24/share). The world's largest money manager for institutions said 2009 profit will be little changed from last year after Q4 earnings fell 71%. What is curious is that according to Bloomberg out of the 18 analysts who cover the stock, 9 have a buy rating, 9 have a hold and 0 are at sell...yup, good to see sell-side research ahead of the ball on this one too.
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REITs Next To Receive Bail-Out Funding?
Submitted by Tyler Durden on 01/20/2009 20:46 -0400REITs are in trouble. Let me paraphrase that - REITs are in very big trouble. These companies whose very existence presumes significant equity value in their underlying investments are feeling a lot of pain these days with commercial mortgages on the verge of a default tsunami.
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- 1317 reads
Breaking News: Steve Jobs Considering Liver Transplant
Submitted by Tyler Durden on 01/16/2009 21:30 -0400After incessant media bugging, Jobs break down "Why don’t you guys leave me alone -- why is this important?”
Poor guy, all joking aside, this is pretty horrible and again our thoughts go with him
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Saturday Afternoon Ponzi: Now in Idaho, And Totally Organic
Submitted by Tyler Durden on 01/17/2009 21:04 -0400WSJ reports ($$$ here) of another one. Seriously now, they have hedge funds in Idaho? I think we have reached our saturation point - one a day now, soon to be dozens: 34 of the 1,684 hedge funds reporting quarterly results have never had a down quarter (you listening SEC, you may want to do something here proactively).
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Death Watch: Greece, and What Its Default Could Mean
Submitted by Tyler Durden on 01/19/2009 20:35 -0400
The biggest threat to the U.S. Obama rally and the miracle recovery proposed by Democrats in the $825 billion bail out package may possibly reside about 6,000 miles away in Greece.
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- 1654 reads
Death Watch: Banking System
Submitted by Tyler Durden on 01/20/2009 14:33 -0400
Or at least according to Nouriel Roubini. The NYU professor and longtime pessimist fired the latest shot across the bow of the financial house of cards. His claim: financial losses from the credit crisis may reach $3.6 trillion, suggesting the banking system is "effectively insolvent."
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Barclays Crazy Rollercoaster Stock Price Ride
Submitted by Tyler Durden on 01/16/2009 21:41 -0400After dropping as low as $6/share, BCS recovered most of its losses and traded as high as $8, before dropping again. Barclays management "We know of no justifcation for share-price decline". It also expects to report pre-tax profit well ahead of the $5.3bn analyst estimates...
Well, we shall see
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Investment Idea That Gets You Points With the Ladies
Submitted by Tyler Durden on 01/18/2009 01:34 -0400
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Death Watch: Greece, and What Its Default Could Mean
Submitted by Tyler Durden on 01/19/2009 20:35 -0400
The biggest threat to the U.S. Obama rally and the miracle recovery proposed by Democrats in the $825 billion bail out package may possibly reside about 6,000 miles away in Greece.
Death Watch: Banking System
Submitted by Tyler Durden on 01/20/2009 14:33 -0400
Or at least according to Nouriel Roubini. The NYU professor and longtime pessimist fired the latest shot across the bow of the financial house of cards. His claim: financial losses from the credit crisis may reach $3.6 trillion, suggesting the banking system is "effectively insolvent."
»
- Read more
- 1170 reads