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Moody's Lowers JPM to Aa3 from AA2
Submitted by Tyler Durden on 01/15/2009 16:05 -0400Buffett's cronies finally waking up
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Breaking News: US Airways Plane Has Crash-Landed in Hudson River
Submitted by Tyler Durden on 01/15/2009 21:44 -0400
Apparently the plane is an Airbus 320 flying from LaGuardia to Charlotte, NC. The plane is semi-submerged in the Hudson River and is "slowly sinking". According to the US Airways website this is flight 1549. Media reports there were 148 passengers and 6 crew members onboard when the plane crash-landed into the river. The plane struck a flock of geese on take off. The crash occurred off of 50th street in Manhattan.
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GM: If Our Cars Keep Sucking, Suckers Keep Paying
Submitted by Tyler Durden on 01/13/2009 23:35 -0400
According to GM COO Fritz Henderson, if the worst case scenario that the company has put together which calls for 10.5 million annual car sales (which is higher than recent market data shows for an annualized run-rate around 10 million), then the company will simply have to
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Today is File Bankruptcy for Free, Get an Expensive Advisor in Exchange Day
Submitted by Tyler Durden on 01/14/2009 18:14 -0400Just filed Chapter 11 - Gottschalk's and Goody's, both in Delaware...
Many more to come
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Ezra Merkin's 6/7B Duplex at 740 Park About to Go For Sale
Submitted by Tyler Durden on 01/15/2009 16:08 -0400According to CNBC sources, NY AG Cuomo has issued a subpoena to Merkin to explain his relationship to Madoff, some charities, and encompasses Ezra's Ascot and Ariel funds.
********UPDATE********
"At least 10 prosecutors are involved in the investigation"..... uh oh, they really are regrouping forces on this one
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Death Watch Update: Smurfit Demise Rumors Exaggerated
Submitted by Tyler Durden on 01/15/2009 22:40 -0400According to debtwire, Smurfit Stone DID in fact make a payment on its 7,375% Notes. If you sold today, don't forget to reload tomorrow.
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GM: If Our Cars Keep Sucking, Suckers Keep Paying
Submitted by Tyler Durden on 01/13/2009 23:35 -0400
According to GM COO Fritz Henderson, if the worst case scenario that the company has put together which calls for 10.5 million annual car sales (which is higher than recent market data shows for an annualized run-rate around 10 million), then the company will simply have to
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In Other News: TED Spread "Down"
Submitted by Tyler Durden on 01/14/2009 18:19 -0400In seeming vindication of Kudlow's theory that all shall be well, the TED spread is ignoring the slew of bankruptcies, the bottom falling out of the market, Zimbabwe's trillion % inflation rate, Vikram's impending pink slip birthday present, and tightening to 0.98%, its tightest spread in 5 months.
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ETF Pick of the Week: SRS
Submitted by Tyler Durden on 01/15/2009 16:35 -0400
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Banc of America Moving Earnings Date to Coincide with Citi
Submitted by Tyler Durden on 01/15/2009 23:42 -0400The previously scheduled January 20 conference call is being pulled to January 16 Friday bright and early at 7am. Ken Lewis undoubtedly has many good news he cant wait to share. At least it is not at same time as Citi (8am), or one would think one is trying to hide behind the other... which is simply ludicrous
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Schrenker Gimmicks Put Bernie the Ponzasaur to Shame
Submitted by Tyler Durden on 01/14/2009 00:55 -0400
As the media whirlwind over the latest Ponzmaster becomes more and more acute, the disclosures about his past keep mounting to a point where what Madoff has done in comparison will likely soon seem tame.
Ponzasaur About to be Carted Off...
Submitted by Tyler Durden on 01/14/2009 18:23 -0400...in a Kia Sorrento???? oh the indignity... in what will probably be his last trip in a non Department of Corrections vehicle, Bernie will have to indulge in all the comfort of this Korean creem of the crop...
On the other hand it could have been this.
************ UPDATE ***********
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Chris Whalen: Bankruptcy Inevitable "End Game" for Citi
Submitted by Tyler Durden on 01/15/2009 17:19 -0400In a Bloomberg TV telephonic interview, Christopher Whalen, managing director of Institutional Risk Analytics, discusses the possibility that Citi may file for bankruptcy, which according to him is "inevitable". Our advice to Vikram regardless of what he does - don't hire Lazard if you need a DIP.
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Allocations of $825 Billion Stimulus Package Disclosed
Submitted by Tyler Durden on 01/16/2009 00:31 -0400
A Bill introduced today by House Democrats, highlights the $825 billion stimulus plan that is supposed to lead America out of its current deplorable state.
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U.S. Renaissance Late, Ted-Spread Blamed
Submitted by Tyler Durden on 01/13/2009 17:25 -0400Is anyone else tired of hearing Larry Kudlow's claims that the "Ted Spread is down" (which we assume is the new way of saying a spread is tighter, or alternatively the CNBC grammer nazis could be on strike, as evidenced by such pearls from Trish Regan as "Retail consumer spending changing for the good") will be the reason for the next American golden age?
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- 992 reads