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Market Not Sure Why It Is Rallying But Doing So Anyway
Submitted by Tyler Durden on 01/15/2009 20:06 -0400S&P posting a 20 point rally in past hour. Talking heads speculating this is due to expections of more taxpayer money about to come and bail everyone out via TARP 2 any second. This obviously did miracles last time around.
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More On The Secretive Frank and Charlie
Submitted by Tyler Durden on 01/16/2009 15:16 -0400
Good to see we are on to something. In our breaking expose from Wednesday we presumed that there is more than meets the eye with Frank DiPascali and Charlie Wiener, the other, heretofore secretive Lipstick building 17th floorites.
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HeidelbergCement Trying to Avoid The Cement Shoes
Submitted by Tyler Durden on 01/13/2009 21:30 -0400
HeidelbergCement, the world leader in aggregate production which over the past year has lost over 60% of its equity value, and one of the main holdings of recently deceased Adolf Merckle who got caught shorting Volkswagen (for a brief period of time the w
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Nortel Fiasco Causing Ripples
Submitted by Tyler Durden on 01/14/2009 15:52 -0400In an example of what we will be seeing a whole lot more of in the next few days, Flextronics issued a press release, claiming "it has been proactively engaged in executing a risk mitigation plan with respect to its relationship with Nortel for a period of several months. In December 2008, Flex engaged The Blackstone Group as it financial advisor to assist with evaluating the Nortel relationship and planning for any Nortel restructuring strategy." In addition, Flextronics will provide more specific financial details associated with today's news on its January 28, 2PM earnings call.
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Breaking Expose: So... Where are Frank and Charlie?
Submitted by Tyler Durden on 01/15/2009 00:53 -0400With the public's attention having been exclusively focused on Bernie, his sons Marc and Andrew, and Bernie's "three-man accountant company" lead by David Friehling, a question that is intriguing more and more people is who/what/where are Frank DiPascali, the 51 year old CFO of Bernard L Madoff, and Charles Wiener, Bernie's 50 year old nephew, listed as Director of Administration, who were the only other tenants on floor 17 of 885 Third Avenue.
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Step-By-Step Guide to Near-Term Budget Deficit Funding
Submitted by Tyler Durden on 01/15/2009 20:23 -0400With the U.S. government unable to print money fast enough, and "sophisticated" investors rushing to buy every bond Washington will peddle to fund the upcoming multi-trillion budget deficit, Zero Hedge has decided to make life easier for everyone and provide a cribsheet for all upcoming Bill, Note, Bond and TIPS auctions. We wish everyone the best as they earn negative 2-100% real interest rates on their investments.
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Nortel Upping The Suspense To Fever Pitch
Submitted by Tyler Durden on 01/13/2009 22:11 -0400
Our readers at Reuters picked up today where we left off yesterday, and apparently had more luck in getting through to someone at the company than just the switchboard...However, not much information was gleaned: "It is our policy to not co
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New Missive from Howard Marks
Submitted by Tyler Durden on 01/14/2009 17:05 -0400The latest letter from the intellectual titan of Oaktree... Enjoy
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Death List Keeps Growing
Submitted by Tyler Durden on 01/15/2009 15:23 -0400We made some predictions yesterday about the bankruptcies to hit dockets today.... and they are starting to roll in:
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Banc Of America Bail-Out #2
Submitted by Tyler Durden on 01/15/2009 20:45 -0400
CNBC reporting that Banc of America to receive more tax money to fund their phenomenally well-run operation. With purchases such as Angelo Mozillo's golden parachute and Merrill Lynch's empty cubicles this makes lots of sense. Looks like federal guarantee will be $100-$200 billion...
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Nortel Upping The Suspense To Fever Pitch
Submitted by Tyler Durden on 01/13/2009 22:11 -0400
Our readers at Reuters picked up today where we left off yesterday, and apparently had more luck in getting through to someone at the company than just the switchboard...However, not much information was gleaned: "It is our policy to not
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- 1167 reads
Breaking News: Sam Israel's GF Charged with Introducing Contraband in Jail
Submitted by Tyler Durden on 01/14/2009 17:14 -0400Does anyone even watch daytime soaps anymore? CNBC reporting... More to come
********** UPDATE ***********
Bloomberg reports Debbie Ryan, girlfriend of Sam, is pleading not guilty in helping him escape. She entered her plea before Magistrate Judge Lisa Margaret Smith at federal court in White Plains. Turns out she had been arrested January 9th. She is barred from any contact with Sam and is out on $75,000 bail. She faces a 10 year prison sentence if convicted.
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Despite Huge Cash Hoard, Potential DIP Lenders Say Throw To Lions
Submitted by Tyler Durden on 01/15/2009 15:45 -0400
According the the Globe and Mail, the main reason Nortel decided to file for bankruptcy was Lazard's pathetic inability to raise even a dollar of Debtor In Possession financing....
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Death Watch Update: Fried Green Tomatoes Fried
Submitted by Tyler Durden on 01/15/2009 21:31 -0400
Death Watch candidate, greenhouse tomato producer and employer of illegal immigrants, Eurofresh Farms, does not disappoint.
Breaking News: This is Your New Morgan Stanley Smith Barney Broker Calling
Submitted by Tyler Durden on 01/13/2009 22:52 -0400Summary as disclosed in C press release:
- More than 20,000 high-quality financial advisors;
- $1.7 trillion in client assets;
- $14.9 billion in pro-forma combined revenues;
- $2.8 billion in pro-forma combined pre-tax profit;
- 6.8 million client households globally – with a strong presence in the critically important
- high-net-worth client segment; and,
- A footprint of more than 1,000 offices around the globe.
Lead -> Gold
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