Presenting The Latest Eurodebt Exposure Masking Scam Courtesy Of Morgan Stanley: Level 1 To Level 2 Transfers

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Mon, 11/07/2011 - 18:35 | 1854937 Long-John-Silver
Long-John-Silver's picture

MF Global is only the first domino to fall.

Mon, 11/07/2011 - 18:45 | 1854963 Rainman
Rainman's picture

...and the Squid alumni are playing both cops and robbers. We r fucked

Mon, 11/07/2011 - 18:47 | 1854972 redpill
redpill's picture

Maybe this is why they can never really investigate Goldman.  By the time everyone with a conflict of interest recuses themselves, there's no one left to conduct the investigation!

Mon, 11/07/2011 - 19:05 | 1855017 Leopold B. Scotch
Leopold B. Scotch's picture

It's a craptastical wonderland we all live in.

Mon, 11/07/2011 - 19:18 | 1855035 i root for that...
i root for that fat jersey governor's picture

the game being played right now is called "bull riding contest": wanna make some $$? ride the bull at your own risk but it sure will make you some money.

I don't know how many times I said this - it doesn't matter people are disgusted by the "bailouts" or "money priniting", never underestimate the central banks and the power of corrupt politicans. The market will not crash now - maybe next year. But given the EU is determined to win the "battle" despite losing the "war", money will be available for whoever needs it. No matter how weak or riduculous the concept of the new EU bailout package, it will work for a couple of months. Plus year-end retail frenzy is almost here, santa rally is getting started.

For people who buy SH and forget about their account for a year, I would say it is not a bad approach. But for people like me who trade "actively", riding the fake bull might not be a bad idea to get your new iphone5 or a new "sun room".


Mon, 11/07/2011 - 19:44 | 1855086 traderjoe
traderjoe's picture

Whatever. You can play with the Ponzi masters.

Or, I'd also say that gold did quite nicely today thank you very much.

Mon, 11/07/2011 - 21:30 | 1855262 Careless Whisper
Careless Whisper's picture

It was announced today that Robert DeNiro is playing ponzi master Bernie Madoff in a new movie. I'm thinking that the next movie, when everything is unravelled, will be about MF Global. Who will be cast to play Jon Corzine? My pick is Larry David.

Tue, 11/08/2011 - 04:04 | 1855709 Smithovsky
Smithovsky's picture

Tyler(s), let this story sit at the top for a bit - you (ZH) single-handedly have the power to reduce these banks' exposure, as evidenced by Jefferies.

Tue, 11/08/2011 - 16:49 | 1858125 Rick64
Rick64's picture

Is it my imagination or did half a dozen comments just disappear?

Mon, 11/07/2011 - 22:00 | 1855299 Michael
Michael's picture

I like to think of it more as rat scat. Follow the droppings.

Mon, 11/07/2011 - 19:11 | 1855026 iDealMeat
iDealMeat's picture

Definitely some interesting characters on the BoD.


Donald T. Nicolaisen
Mr. Nicolaisen served as Chief Accountant for the U.S. Securities and Exchange Commission from September 2003 to November 2005. Prior to joining the SEC, he was a senior partner at the accounting firm PricewaterhouseCoopers. Mr. Nicolaisen began his career at the firm's predecessor, Price Waterhouse, in 1967, and held a wide range of management and leadership positions, including serving on the firm's U.S. and global boards and leading Price Waterhouse's national office for accounting and SEC services. Mr. Nicolaisen currently serves on the Board of Directors of MGIC Investment Corporation, Verizon Communications Inc. and Zurich Financial Services.


Hutham S. Olayan
Ms. Olayan has been a director since 2006. Ms. Olayan is a senior executive and director of a private multinational enterprise, The Olayan Group, a major investor worldwide as well as a leading diversified business in Saudi Arabia and also serves as president and chief executive officer of Olayan America Corporation, a Group affiliate based in New York. Ms. Olayan holds a bachelor’s degree from the American University of Beirut and an MBA from Indiana University. Ms. Olayan’s outside affiliations include serving as a director at the Peter G. Peterson Institute for International Economics (since 2004), trustee of the American University of Beirut (since 1993) and overseer of the Memorial Sloan-Kettering Cancer Center (since 2008). She is a member of various advisory councils of non-profit organizations, including The Brookings Institution, Carnegie Middle East Center, US-Middle East Project and The Conference Board. Ms. Olayan is also a founding member of the Arab Bankers Association of North America. She served as trustee of the Conference Board (2002-2008) and as a director of Thermo Electron Corporation (1987-2002).


James W. Owens
Mr. Owens has been a director since 2011. From 2004 to 2010, he was the Chairman and Chief Executive Officer of Caterpillar Inc., a manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. Mr. Owens served as Vice Chairman of Caterpillar Inc. from December 2003 to February 2004 and as Group President from 1995 to 2003, responsible at various times for 13 of the company’s 25 divisions. Mr. Owens joined Caterpillar Inc. in 1972 and served in numerous management positions until 1993, when he was elected Vice President and Chief Financial Officer. Mr. Owens is also a director of Alcoa, Inc. and International Business Machines Corporation. He is a board member of the Council on Foreign Relations and Chair of the Executive Committee of the Peterson Institute for International Economics. Mr. Owens is member of The Business Council and a trustee of North Carolina State University. Mr. Owens also serves on the President’s Economic Recovery Advisory Board. He graduated from North Carolina State University in 1973 with a Ph.D. in economics.
Mon, 11/07/2011 - 22:29 | 1855334 earleflorida
earleflorida's picture

@ iDealMeat

good diggs


Mon, 11/07/2011 - 19:44 | 1855087 knukles
knukles's picture

Except thems beholden the Squid that don't recuse themselves.

Mon, 11/07/2011 - 20:38 | 1855191 max2205
max2205's picture


How long is the road that the can is being kicked down?

Tue, 11/08/2011 - 00:18 | 1855526 paarsons
paarsons's picture

They'll just print a shitload of money like we did in the States.

Wash. Rinse. Repeat.

Fuck it.

Mon, 11/07/2011 - 20:11 | 1855141 Grinder74
Grinder74's picture

Actually, there's always the midgets they keep on staff, that is when they're between filming gigs.

Mon, 11/07/2011 - 19:11 | 1855025 Al Gorerhythm
Al Gorerhythm's picture

If they didn't get preferential treatment, then MFG hid their actions from the CFTC or the CFTC is incompetent or are politically/financially captured. Somebody's gonna get an ass whupin, if the press pursues this.

Mon, 11/07/2011 - 21:53 | 1855294 WonderDawg
WonderDawg's picture

If the press pursues this? Are you kidding? The press has passed on hundreds of opportunities to pursue corruption and incompetence in the financial industry, government, regulatory agencies, you name it. Every once in a while they'll pop a senator or a congressman, or a bishop for the catholic church, but by and large they ignore all the truly juicy shit, as they are told to do so.

Tue, 11/08/2011 - 03:59 | 1855741 Al Gorerhythm
Al Gorerhythm's picture

Yeah, I know, I should have emphasized. Its a big IF. Your frustration is EMINENTLY warranted. We are (mostly) all in the same room here.

Tue, 11/08/2011 - 07:22 | 1855839 Comay Mierda
Comay Mierda's picture

The modern press is sites like ZH. corporate media is slowly losing its foothold. I can't wait for the day CNBC files for bankruptcy and cramer has to find work as a janitor cuz no one will hire his lying ass. Also can't wait to see bank bankruptcy filings to see how much they owe CNBC in spin fees.

Tue, 11/08/2011 - 00:08 | 1855514 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Dude, Bart Chilton admits the CFTC is a piece of shit.  Bart Chilton!

CFTC Commissioner, Bart Chilton:

Tue, 11/08/2011 - 04:04 | 1855742 Al Gorerhythm
Al Gorerhythm's picture

Bart is their pin-up boy, the relaxed surfy dude. I don't get that guy at all. Must be the overspray from the other shit slingers that sticks to him (Just my opinion but I may be wrong. Politics I suppose).

Mon, 11/07/2011 - 18:47 | 1854971 spiral_eyes
spiral_eyes's picture

The first domino to fall?

For me, it could be Iran. That story overshadows everything coming out of the Euro-circus.

Mon, 11/07/2011 - 20:46 | 1855204 LongBallsShortBrains
LongBallsShortBrains's picture


Could just the talk of war between Iran and Israel be the tipping point for the "market"?

Talk war

Market falls

Blame Iran.
Instead of blame it on the politicians and the banks and the fed.

After all, nobody could see that coming!!!!!

Mon, 11/07/2011 - 19:02 | 1855009 Reggie Middleton
Reggie Middleton's picture

Hmmm... Pretty good stuff. I think we should have a tag team bout with the big banks, Tyler. See ZeroHedge Is Good In Uncovering BS, But I Will Not Be Outdone In Busting BS Bank Reporting - I Simply Refuse, Right BNP?

A quick visual excerpt to go along with the Morgan Stanley quip above...

I must admit, that this type of investigative reporting takes
very sharp minds, very witty reporting and a thirst for finding the
truth. It probably can only be accomplished by tall handsome brothers with that sharp sense of humor... Know what I mean??? From the Bank Run Liquidity Candidate Forensic Opinion (A full forensic note for professional and institutional subscribers) released in August:

Click to enlarge...



Mon, 11/07/2011 - 19:08 | 1855022 peekcrackers
peekcrackers's picture

right on reg..  The squid Hunter in the house.

Tue, 11/08/2011 - 00:16 | 1855523 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I think we should have a tag team bout with the big banks, Tyler.

Reggie, we do.

And yes, fights will go on as long as they have to.

Mon, 11/07/2011 - 20:29 | 1855172 smlbizman
smlbizman's picture

this article kicks ass......god damn i love football....

Mon, 11/07/2011 - 18:35 | 1854938 CPL
CPL's picture

Like watching a game of hot potatoe with nuclear material.

Mon, 11/07/2011 - 18:43 | 1854955 Ethics Gradient
Ethics Gradient's picture

A Dan Quayle fan, hey?

Mon, 11/07/2011 - 18:54 | 1854995 Yamaha
Yamaha's picture

+10! Dan Quayle - don't you just long for the days when you could at least identify the idiot in the room? Now it a race for an IQ under 40..... Remind them to breath.......

Mon, 11/07/2011 - 18:57 | 1855004 CPL
CPL's picture

I am currently manually breathing and aware of the air drafting across my eyelids.

Mon, 11/07/2011 - 19:15 | 1855032 Ethics Gradient
Ethics Gradient's picture

Sorry. It was a potato joke. It'll be in wikithingopedia, I'm sure.

Mon, 11/07/2011 - 21:59 | 1855302 Yamaha
Yamaha's picture

Yes it was. Still remember big Dan correcting the student -

Tue, 11/08/2011 - 00:19 | 1855529 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Big Dan's family is one of the oldest political families in America, along with the Pierce/Buhes, Rodhams, Edwards', McCains, Gores, etc.

Tue, 11/08/2011 - 03:39 | 1855721 jeff montanye
jeff montanye's picture

what is it about schools and stupid politicians? i am reminded of w. bush's 9-11 morning reading.

Mon, 11/07/2011 - 19:13 | 1855029 Taint Boil
Taint Boil's picture

Google rocks man - you can find anything.

Mon, 11/07/2011 - 20:49 | 1855208 LongBallsShortBrains
LongBallsShortBrains's picture


Mon, 11/07/2011 - 20:28 | 1855171 Grinder74
Grinder74's picture

Duh! That's how it's spelled in "Austrian".  Jeez.

Mon, 11/07/2011 - 18:51 | 1854981 data_monkey
Mon, 11/07/2011 - 18:56 | 1855001 CPL
CPL's picture

Ha!  My extra e remains for trolls everywhere to find.

Mon, 11/07/2011 - 20:01 | 1855116 Hephasteus
Hephasteus's picture

Spelling is just convention. Because theres 2 conventions for tomatoe there's 2 conventions for potato. But oddly they are not equal in their stuggle for dominance despite phonemes.

Colour me surprised.

Mon, 11/07/2011 - 20:10 | 1855139 SwingForce
SwingForce's picture

There's an extra g in egg, too.

Tue, 11/08/2011 - 00:22 | 1855530 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

While we are on the subject, why did English stop using the "E"?  Instead we use a "Y", a totally benign letter.  Anyone?  Bueller?  Bueller?

Tue, 11/08/2011 - 05:15 | 1855774 Ethics Gradient
Ethics Gradient's picture

Well, not being the kind of guy that follows the herd, from now on I'm gonna sdfs fa opigdjf peiornb iodrg oigrjrkjg goijrekgjn.

Mon, 11/07/2011 - 20:53 | 1855216 LongBallsShortBrains
LongBallsShortBrains's picture

Give it to yamaha.

He can put it on the end of


And make


And make

Mon, 11/07/2011 - 18:53 | 1854993 Ponzi Unit
Ponzi Unit's picture

You say tomatoe, I say tomato, let's call the whole thing off...

Mon, 11/07/2011 - 19:02 | 1855010 love
love's picture

i've been taking a little bit of nuclear material from work and saving it up,

i'm going to put it up for sale on ebay.

the money should come in handy now i've got two mouths to feed. 

Mon, 11/07/2011 - 18:36 | 1854940 SheepDog-One
SheepDog-One's picture

Swindle and scam...and someones got to pay the tab soon.

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