Egan Jones Downgrades Jefferies On Concerns About Sovereign Exposure Amounting To 77% Of Equity

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Wed, 11/02/2011 - 21:50 | 1839574 Eireann go Brach
Eireann go Brach's picture

Another domino, eventually all dominos will fall and this time Ben you will not be able to save the world!

Wed, 11/02/2011 - 21:57 | 1839590 GrinandBearit
GrinandBearit's picture

We are almost at the end.  It's only a matter of time.  I have my popcorn and recliner all ready.

Wed, 11/02/2011 - 22:05 | 1839613 rocker
rocker's picture

So the HFT's are going to do what kind of manipulation now.  Up 300 or Down 300. 

 Anybody with knowledge knows the rallies in U.S. Equities are not real are already gone.  100% Cash.

  This make believe EW Wave Shit and Robo garbage trades are done.  Now What.

Will anybody finally admit;  We are Worse than Japan Now

Or will make believe land still live on. The CNBC frauds or the Bloomberg circus. 

Wed, 11/02/2011 - 23:32 | 1839805 fattail
fattail's picture

By 100% cash do you mean stacks of $100 bills in the wall safe behind the family portrait, or do you mean 100% cash - safely secured in a segregated account held by your broker???  If its the latter the 100% cash position you have may be closer to a 72.5% cash position.

Wed, 11/02/2011 - 23:52 | 1839837 flacon
flacon's picture

I think he means this.... CASH CASTLE!







Wed, 11/02/2011 - 23:32 | 1839806 dasein211
dasein211's picture

Corzine was SENT into MF Global with the objective of collapsing it and rolling the remains into Goldman (presumably). And he was paid eight figures to do it, AND promised SEC TREAS after Geithner. If you had said six months ago that the largest FCM in the U.S. would be taken down, everyone would have laughed in your face, but here we sit. The only question is, who is next? How long will an FCM like ADM last before looking at Dodd-Frank and saying, "Screw this. We're selling our clearing operations and we'll just go back to straight-up product merchandizing." Why shouldn't they? If the FCM profit center is made impossible by the government and the corrupt regulatory bodies, why would they continue to operate an FCM? Why not sell to Goldman or one of the other megabank entites and then do their exchange-traded hedge business through them as a customer? When will the old Chicago boutique firms be similarly forced out, either through regulation that makes their business impossible, or through outright sabotage as with Corzine and MF? None of you FCMs are safe. THEY WILL COME AFTER YOU AT SOME POINT. You have been targeted for extermination. Either you wake up to this fact and expose these regulatory bodies, megabanks and the Federal Government and fight them, or you are going to end up like MF, being bought by Goldman or one of the other fascist government-connected megabanks for pennies on the dollar. You have been warned.

Thu, 11/03/2011 - 06:10 | 1840036 Stormdancer
Stormdancer's picture

Channeling Ann Barnhardt today are we?  Credit would be in order.  Integrity is really nice but absent that maybe a little shame?



Edit:  The "thumbs down" is definately very personally directed at the low-life messenger, not the message.  I happen to think Ann is wrong but I'd discuss that with her, not this poseur.

Thu, 11/03/2011 - 08:14 | 1840260 Yellowhoard
Yellowhoard's picture

Definative proof, or failure, of your hypothesis will come in the form of Corzine getting either a perp walk or the Sec. Treasury job.

Wed, 11/02/2011 - 23:40 | 1839821 natty light
natty light's picture

It is amazing how my silver has no volatility. Every time I weigh one of my JFK '64 halves, it always comes to .361 ozt.

Wed, 11/02/2011 - 22:00 | 1839599 rosex229
rosex229's picture

this really pinpoints how critical it was for this latest eu summit to produce something large and competent enough to float market confidence for a few months. the few days of market relief that were achieved didn't amount to nearly enough time to stabilize balance sheets and offload assets to increase capital ratios. the continued degredation in bond and equity markets will corroce the viability of a number of financial institutions, one day at a time, until a tipping point where bank lending freezes due to fears of interacting with a soon to fail bank. sound familiar...

Thu, 11/03/2011 - 00:33 | 1839894 PulauHantu29
PulauHantu29's picture

Don't be so downbeat. I  bet luxury sales will have another blockbuster Q to match an even higher Wall Street Bonus Christmas season.

After all, 'tis the Season!


Wed, 11/02/2011 - 21:50 | 1839575 Nolsgrad
Nolsgrad's picture

time to start tip toeing into financials?

Wed, 11/02/2011 - 22:02 | 1839608 fizz
fizz's picture

Dick Bove, is that you?

Wed, 11/02/2011 - 21:51 | 1839576 beaker
beaker's picture

When all the counter-parties are insuring each other, is that what you call a circle jerk?

Wed, 11/02/2011 - 23:46 | 1839832 CrazyCooter
CrazyCooter's picture

I am probably one of the least math-iest folks here, but I could venture the following formula.


(some really complicated shit goes here)



But, on the other hand, I have a decent working understanding of arithmetic, algebra, geometry, and calculus.



Thu, 11/03/2011 - 10:20 | 1841155 Ident 7777 economy
Ident 7777 economy's picture



Division by Zero, Coot?


Undefined ...


But then that is where we are (undefined land).



Thu, 11/03/2011 - 11:08 | 1841494 Flakmeister
Flakmeister's picture

Try L'Hopitals Rule.....

Wed, 11/02/2011 - 21:56 | 1839586 rubearish10
rubearish10's picture

I thought Mr B said today that the MF thing had no impact and was isolated? Ummm.

Wed, 11/02/2011 - 22:30 | 1839687 WestVillageIdiot
WestVillageIdiot's picture

"Subprime is contained."
-  Golem Bernanke 2007

Wed, 11/02/2011 - 22:36 | 1839704 Mactheknife
Mactheknife's picture

Busted. 3rd rule of fight club: You do not watch CNBC.

Thu, 11/03/2011 - 05:13 | 1840029 Ronaldo
Ronaldo's picture

There is a certain artistic and comedic value you can glean from it.

Thu, 11/03/2011 - 08:22 | 1840316 Yellowhoard
Yellowhoard's picture

CNBC is must viewing.

As a contrary indicator, you cannot find a more accurate barometer.

They exist solely to herd the masses to the other side of Goldman's positions.


Wed, 11/02/2011 - 21:57 | 1839588 ArkansasAngie
ArkansasAngie's picture

Collateral damage.  TBTF is offering up sacrificial shatheads.  Gotta keep them Central Banksters scared.

My money is in my pocket.  Do you know where your money is?

Wed, 11/02/2011 - 22:02 | 1839607 fnord88
fnord88's picture

It was all in Gold. Then I spent it all on coke and hookers. I swear. All of it.

Wed, 11/02/2011 - 22:35 | 1839700 DoChenRollingBearing
DoChenRollingBearing's picture



I am very sorry to hear that.


Victim of a boating accident

Wed, 11/02/2011 - 23:06 | 1839767 ReallySparky
ReallySparky's picture

You must have been with Gorden. Happened to someone else I know.

Thu, 11/03/2011 - 06:18 | 1840052 HoofHearted
HoofHearted's picture

And fnord must have been with Charlie Sheen.

Unfortunately, I traded all mine for Pokemon and Beanie Babies. I mean you can't just print a...oh shit, I see my problem now.

Wed, 11/02/2011 - 23:11 | 1839768 ReallySparky
ReallySparky's picture

Dbl post.

Wed, 11/02/2011 - 21:59 | 1839589 HUGE_Gamma
HUGE_Gamma's picture

I find that hard to believe when every employee is a top 5 MBA with the FRM, CFA, CPA, CAIA and every Finra license 01-99. I rate them AAAA+^3

Wed, 11/02/2011 - 22:07 | 1839619 Flakmeister
Flakmeister's picture

I remember the FP division of a monoline going down in flames.... The hubris and self-delusion was palpable....

Wed, 11/02/2011 - 22:33 | 1839695 Mactheknife
Mactheknife's picture

>On the pos. side, JEF is a respectable competitor.

Pretty sure I heard that said about MF.

Wed, 11/02/2011 - 21:57 | 1839591 TheGoodDoctor
TheGoodDoctor's picture

I'm glad I bought some popcorn. Now whether it will last through the weekend is another thing entirely. :p

Wed, 11/02/2011 - 22:17 | 1839641 Schmuck Raker
Schmuck Raker's picture

I recommend popping a small bowlful now, and making it last through next week. Can as much as the stores will sell you. These are desperate times friend.

Wed, 11/02/2011 - 21:59 | 1839596 nmewn
nmewn's picture

More popcorn!!!

Wed, 11/02/2011 - 22:36 | 1839706 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

At this rate I am going to need a new machine to pop it, and will have to buy popcorn in BULK!

Wed, 11/02/2011 - 23:06 | 1839771 fuu
fuu's picture

Store it a 5 gal bucket with a gamma lid, mylar bag, and oxygen absorbers.

Wed, 11/02/2011 - 23:50 | 1839840 CrazyCooter
CrazyCooter's picture

Screw popcorn, I am loading up on rice ... my first 24 pounds of Japonica and Wehani are in the mail!



Thu, 11/03/2011 - 06:30 | 1840060 Raging Debate
Raging Debate's picture

Cooter, don't forget import commodities like coffee and sugar. Cooking oil substitutes like Crisco. I like to rotate powdered milk and eggs. I lean toward whatever will be least available in my region for luxury commodities. Have some stuff you enjoy eating and drinking. Lots of water filters. If you can generate your own power your really ahead of the game.

The idea is to maintain a quality of life and trade the rest. Oh yeah have Forex like Yuan. I view that as once in a lifetime trade. But I wouldnt hang onto it like Gold much past 2014.

Read up on criminals and how they behave at the ground level, particularly Russia 1998. Good luck and God bless all people of all nations. None of this has been easy and good things to come never are.

Fri, 11/04/2011 - 00:20 | 1844017 CrazyCooter
CrazyCooter's picture

Fuck living like a king amongst paupers in the most armed state in the union.

I plan to share/donate excess through local churches.

No lamp post for me ... I am in the fox hole with the people ...



Wed, 11/02/2011 - 22:02 | 1839600 caerus
caerus's picture

just short gmcr through the's an easy it

Wed, 11/02/2011 - 22:20 | 1839652 WonderDawg
WonderDawg's picture

Care to elaborate, Caerus? I'm all ears, sitting with a little dry powder.

Wed, 11/02/2011 - 22:25 | 1839669 caerus
caerus's picture

i figure a quick dip to 40 at best...they delayed earnings till the ninth...thought i would be out of the position by now...

Wed, 11/02/2011 - 22:29 | 1839685 WonderDawg
WonderDawg's picture

Interesting. I'll check the puts, see how they look. You're expecting a miss on earnings, eh?

Wed, 11/02/2011 - 22:33 | 1839694 caerus
caerus's picture

they already missed...i didn't trust them before the delay...i don't trust them now

Wed, 11/02/2011 - 22:36 | 1839703 WonderDawg
WonderDawg's picture

Thanks for the heads up. Might place a bet tomorrow. If it pays off, I'll send you of bottle of single malt.

Wed, 11/02/2011 - 22:37 | 1839708 caerus
caerus's picture

good man...hope im not an idiot

Wed, 11/02/2011 - 22:39 | 1839712 WonderDawg
WonderDawg's picture

No sweat, I wouldn't blame you, I make my own decisions. I'm always open to some insight, and if it looks good to me, I pull the trigger. No guts, no glory, and no blame.

Wed, 11/02/2011 - 22:49 | 1839732 WonderDawg
WonderDawg's picture

Besides, how could I not trust a guy who goes by Caerus? I'm always seeking kairos myself.

Wed, 11/02/2011 - 22:57 | 1839747 caerus
caerus's picture


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