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Erste is junk.
All who believe they are hedged should be getting itchy by now.
Europe is fucked.
Along with the US also, we all are.
Like the first person from the key party to turn up with the clap!
For anyone who thought that the ISDA playing "blind monkey" would avoid repercussions...
Everybody waiting for a hail mary from the G20.
No shorts into the weekend.
Dont hold you breath.
46 days in a row at -1000 or worse
New NYSE record in number of consecutive days of "panic selling" intraday.
"Sold to you sucka!"
apparently someone didn't get their Groupon allotment this morning...
Oops! (It is starting...)
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Only for those who read right to left.
See, if you're going to set up a huge line of dominoes, you need to leave spaces so that if you accidentally knock one over, you don't take down the whole project. Then, when all your dominoes are set up and you are ready to take down the whole project, you carefully fill in the spaces and let the whole thing go. All the G20 keeps trying to do is stop the first domino from falling, because they KNOW there are no spaces to stop this thing if it starts tumbllng down. The spaces could have been created by taking out the too big to fail, but there was no f'ing way they would step away from the game.
V Domino scene Like This?: http://www.youtube.com/watch?v=mdT163r3dUQ
Check out the Italian 2 year - now over 5.5%. 10 year over 6.35%. Where's the cavalry?
this ties in with several other points made this week. this has been a rich week at ZH for us readers.
A rich week indeed. Proving once again that the cynical and skeptical viewpoint is usually right when it comes to understanding the wizardry of bankers and high finance.
france is clearly deep in recession witness the pmis...when can we expect the sovereign downgrade?
This is shocking news. Banks lie about stuff.
I need a hug. Then a drink. Then a nap. Then a nice blowjob. Then another drink. Then another nap.
Cue up the slow motion death spiral. As long as they fall one at a time, and there is a lag between explosions, the PTB will try to contain this, but when they start to pop all at once, it's lights out.
Can we move to GS and JPM already ? These appetizers are leaving me unsatisfied. I m really looking forward to the MAIN COURSE !
If it's any consolation the man picked to replace Treasury Secretary Tim Geithner has just abandoned SS MFGlobal just as it had hit the iceberg. "Good luck boys!" was heard off in the distance from what turned out to be the only life boat.
Both Moody's Investors Service and Standard & Poor's Ratings Service placed their once-revered triple-A ratings on the Abacus deal...
Moody's and S&P are worthless.
"the hills are alive, with the sound of mucas!" (everyone, sing with me!)
i knew nothing of Erste until yesterday catching their tv ad' on "growing CEE" (the economic zone of Slovakia, Czech, Hungary etc ...bascialy as my girlfriend ruthlessly commented, "every country with no money!")
a simple Google search came up with enough headlines on write-offs, write-downs and remarkable contrasts to Erstes own website of sugar coated PR to wonder which story was nearer the truth: Glossy up-beat Erste or the crumbling down-beat debt
In other news, Intesa halted in Milan.
the G 20 meeting is going great...lol....and in Bank boardrooms across the world ...you can hear a pin drop....
But remember..its only paper money....how many calls are being made to Geitner and Bernanke right now......on the red phone..and what is China doing other than laughing their asses off..
But gold and silver are down...lol
Brie, Champagne...a special meal called "Grapes of Wrath"...what could possibly be wrong with that?
L0L!!! "...a toxic spiral of accentuating losses whenever the risk situation deteriorates..."
can i get that cone dipped in butterscotch, please?
Is this the new Kredit Anstaldt?
You guys are sofa king FUNNY today!
Yes, Austria's long been a dark horse in the race to European bankruptcy, hasn't it?
"...which was not marked-to-market has left many investors scratching their heads..."
mark to market? they should be scratching their asses because that antiquated device for valuing assets is passe and decaying from mold thanks to fasb and the us congress....
and what brilliant wunderkind decided to hide the cds? more of the smarmy low rent iq b-school graudates no doubt - the kind who can't make it without cheating, "team work", or a prosthesis....
fuck you bankster crooks
Thats what the austrian main population informer is reporting:
Just ignore the wording as its the usual cool aid - but i would really like to know whos that guy in the pyjama.
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