Margin Stanley, China, And High Yield: Mix It All In, And Let Simmer (With An Aussie Accent?)

Tyler Durden's picture

This week's trifecta of key financial developments, that go far deeper than superficial headlines, namely China, Morgan Stanley (and European bank exposure in general) and the equity-credit disconnect, just got another major push. CNBC just interviewed Tim Backshall (of Capital Context) to discuss the dramatic moves in MS credit risk (which we mentioned earlier) and in an undeniably convincing accent (British, Aussie, South African?), he managed to bring many of our broader concerns into focus including global financial contagion, bank funding, Chinese growth, and high yield credit. We also learned that ZeroHedge is a blog.

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FOC 1183's picture

New Zealand.  and time to update that picture

SteveNYC's picture

Nope. British, with a bit of SAfa thrown in there.

Dugald's picture

Yup he's a Pommie who hangs around Sooth Efricans. Who is the tough broad?

GeneMarchbanks's picture

An Aussie fosho. As for the rest... WORST.THREESOME.EVER.

tuco13's picture

And a damn good blog...thanks ZH

baby_BLYTHE's picture

I would follow Tyler Durden to the gates of Hades! Even if gold collapses, I have learned a ton over the past few years here at ZH. Well worth the knowledge.

slewie the pi-rat's picture

tyler is running zH from the other side of those gates, baby_B!

hiya!  i just stopped in to see if peter tchir was australian...

see ya!

CClarity's picture

ZH - a blog, increasingly a media outlet (but not MSM), certainly an educational "institution", and a community of people who challenge conventional thinking - and call bulls--t on manipulated medicated market mavens and media pawns.

CrashisOptimistic's picture

The bullshit calling here and internal fights over finance and economics . . . and geology, is typically excellent.  Everyone has learned how to skim over worthless thought after this long online, and that which is not worthless here gets read.

As long as it's short.

Catch-22's picture

Calling ZH a blog is like calling Everest a mountain... it just doesn't do it justice.

Nascent_Variable's picture

Our mission, should we choose to accept it, is to find a way to get a CNBS reporter to say the words, "Zerohedge, bitchez."

Pegasus Muse's picture

Hey, I'm just happy to see that CNBC biatch having to say "Zerohedge", tacitly acknowledging its impact on the financial markets and FinNews reporting.  MSM can no longer ignore Tyler and the boyz.  ZH just keeps dishing up the truth and serving it hot.   

DCFusor's picture

Lately Bloomberg has been doing floor interviews, and several traders have mentioned ZH on those as well.

Roy Bush's picture

Great job Tyler....just afraid that you'll become too mainstream!  Keep it fair and balanced!

Vergeltung's picture

agreed. I feel fortunate to have found this site. I have learned SO much here. thanks TD!!

ebworthen's picture


I think they (on Strategy Session) were referencing Reggie's article about the 100's of trillions in CDS exposure of U.S. banks in Europe (?).

Oh yeah, everything is solved, that is why the insolvent banks are still leveraged to the hilt after robbing taxpayers for the past 3 years.

Peanuts!  Popcorn!  Cotton Candy!


Mike2756's picture

Margin Stanley? Typo or on purpose.

Mike2756's picture

Only -10? Thought i'd get more than that.

credittrader's picture

Hey!! I'm English!! Tnx for post! Hope it helps someone. (accent is funky on TV though - even my kids don't recognize me!!)

LowProfile's picture

Hey, yourself!

For reals, the guy in the interview hangs out here?!  Outstanding!

SheepDog-One's picture

I bet people would be real surprised if they could see who really drops by the ZH Project Mayhem corner of the internet.

ramblinon's picture
Look, the people you are after are the people you depend on. We cook your meals, we haul your trash, we connect your calls, we drive your ambulances. We make guest appearances on CNBC and inseminate the mainstream media with the painful truth of how fucked we really are.
MsCreant's picture

Don't let them read over your shoulder unless you are okay with some of the things they might try to sound out on this blog!!

The Limerick King's picture



A wise credit trader named Tim

Spoke to CNBC on a whim

His truth had not changed

So they quickly arranged

A segment to discredit him

citrine's picture

It sounds like reading ZeroHedge blog is a part of a daily routine of CNBC.

shazbotz's picture

It lets them pretend to have opinions and sound intelligent on TV, when they otherwise wouldn't.

Nascent_Variable's picture

Not a chance.  Too many big words.

fuu's picture

It would explain some of the attention whoring. Whores will whore.

UGrev's picture

Did you hear that cunt? "Zero Hedge started the fear...".. they play the lefty play book like Champeeeeens..  it's like they were born with it or something..but mostly "or something". 

SheepDog-One's picture

We didnt start the fire, it was always burnin since the worlds been turnin.

SheepDog-One's picture

Pretty funny though when you see what theyre really saying- 'All was well until this meddling 'Zerohedge' came along and caused all these problems and the banks to fall apart'.

UGrev's picture

Exactly..  I'm thorougly amazed at the lack of journalistic integrity. I mean, it was bad 10 years ago.. but holy shit.. they tripled down on the white washing.. or is it brainwashing.. I'll go with both. 

TheFourthStooge-ing's picture

Pretty funny though when you see what theyre really saying- 'All was well until this meddling 'Zerohedge' came along and caused all these problems and the banks to fall apart'.

Voice of busted villain on Scooby Doo: ...and I'd have gotten away with it if it wasn't for those meddling kids!


HedgeFun's picture

Just letting you all know I type with a British / Aussie accent. 

Motley Fool's picture

Lol. Much love Tyler.

d00daa's picture

lmfao @ 'margin stanley'  bwahahahahahahahahaha

Dr. Engali's picture

What is this Zero Hedge blog ? I thought the first rule of fight club is that you don't talk about  fight club.

SheepDog-One's picture

We dont talk about it, but a lot of people are peering in thru the basement window though.

Dr. Engali's picture

Somebody needs to give them a beat down on CNBS then for mentioning it.

MsCreant's picture

Fight Club was the beginning, now it's moved out of the basement, it's called Project Mayhem.

Dr. Engali's picture

Well if we've moved on to Project Mayhem then we need to target my mortage holder. I'm tired of paying for the fucking thing.

X.inf.capt's picture

damn, ZH is winning

RIGHT ON, tyler, keep aiming at the head....and the throat!

kito's picture


did zh cover the wretched restaurant numbers??? every once in a while i do overlook a post :)

TruthInSunshine's picture


Thanks for that, kito.

I am always fascinated by restaurant industry numbers, usually track them diligently, and I didn't see that anywhere.

Restaurant #s are interesting to me because they are a relatively decent barometer of not only current consumer health, but future expectations.

Restaurants have been acting similarly to REITs in the sense that to the extent that we can discount the padding that CMBS buybacks and TARP/TALF by the Fed and Treasury have provided them, any genuine investment interest in these sectors is most certainly driven by (insane, IMO) expectations of anything remotely resembling a V-shaped recovery (good luck to those buying in to a v-shaped anything, and not an L shaped something, or more likely, a Z shaped one).


i-dog's picture

"Restaurant #s are interesting to me because they are a relatively decent barometer of not only current consumer health, but future expectations."

I ask taxicab drivers how their business is. They are a great forward indicator because discretionary spending on "simple luxuries" is the first to be affected ... months in advance of the overall economic numbers being published or known.