- advertisements -
NJ taxpayers should be elated.
cut to junk
Probably short euro and long short 3x's. Good job Ben on blowing some more businesses out of the water
Btw thanks a shit load of $ to blow through. 15x no doubt
run by Jon Corzine
where have i heard that name before? oh yeah, he was the ceo of an investment bank that is now a really big hedge fund. and the name of it is... anyone? bueller? bueller? bueller?
The Moody's Kraken has feasted upon the live, insolvent body of that slithering scion of the Vampire Squid. Verne or Melville could not have devised a more satisfying plot.
I don't get it. Doesn't this just mean the fiat blower machine will be turned in MF's direction?
You know the song [to the tune of 'Big John']:
RICH RED JON!
He wrecked New Jersey ... now he wrecked MF!
When are folks gonna figure out that this well-heeled socialist dilettante is real bad news?
Yes, my favorite Corzine moment was when his State Trooper drivers wrecked his government SUV by doing 90+ on wet roads. He was not wearing his seatbelt either as required by law.
So given that and MF can we call him "Crash Corzine"? Seems appropriate.
Socialism always has two books, one for the 'sheeple' and one for the guy in charge. If you're lucky, the guy in charge will be nice and merciful to you. But human nature as it is, socialism will always give you a Joe or a Mao for your troubles. Problem with Jon and Barry is they start to believe just how smart and powerful people say they are and then the air bag of reallity pops out in their faces and wakes'em up.
Exactly right! My saying is "Socialism is for losers and aspiring autocrats." which feeds right into your comments.
Before I even got to the comments, when I saw John Corzine mentioned, I thought: he burned through New Jersey's capital, too.
Whether or not Goldman would dare to do this to the firm of its former CEO is a different question... which is obviously answered with a YES.
Like Goldman has any moral. Mwahahahaha.
And what is 300 million today? It's chump change.
I believe that if given the opportunity Lloyd would phuque Ben over.
So you haven't heard?
$300 million? Chump Change? Squid Change sounds better. Kind of like those pennies in the tray next to the cash register down at the mini mart.
These guys are burning through 2 billion dollar credit lines and Joe Schmoe can't get a piddly little loan from the bank.
Normal people exist in an entirely different world from the one these guys know. Out here in the jungle, it is a depression.
Banks give loans?
Oh ya..... they will if you've got 100% collateral in some other form of liquid asset. But if you've got the money, why would you need a loan? Even then, they'll make you sign a personal guarantee.
Banks ARE NOT in the business of LENDING.
They are in the business of STEALING.
Unless you are another bank with a Moody stamp of approval, then they will lend each other as much money as they could want to dig a deeper hole for their shareholders while handing out bonuses.
Thanks for playing bitchez
And.... it's gone.
Serious "horse fixing" going on in the AH session...including manipulations of FAZ, SPY, GLD, TLT...to name just a few. But as usual, I'm sure Mary Schapiro will get right on it...just as soon as she is done taking notes in L. Blankfein's office about what SEC regs she should just forget about.
There is no market anymore.
**This was a single firm event...as all trades came off together at 6:30. Six sigma moves all around**
I saw that spike of activity at 6:27 to 6:28. BAC, JPM and C dove and rebounded. FAZ reacted, hit some stops and 75,000 FAZzies were released.
These late AH trades are about resetting technicals [as well as the obvious free money angle]. Could just be Chinabot, as well.
But the trades should all be busted...but won't be...as they are executed through alternative venues and cannot be tracked. Thank you Duncan Niederauer.
Just took a look at FAS. Volume of FAS at 6:28 was 517,589.
I can't figure out what the target of this event was; the stocks, the leveraged ETFs, loading, unloading, consolidating or dislodging positions.
Probably all of the above - in the iVernacular, LOL
It is hard to say what it is...because this is no longer a market. But I'm sure Mary Schapiro cares about preserving the market...so I'm sure she will get right on it and figure out who it was that fixed horses in the AH tonight at 6:28 cst. I'm so sure she will that I am now holding my breath and awaiting the announcement...
She's too busy investigating Avon, which apparenty gave her cosmetics that made her fugly....
Nice to have you back. Thanks yen
Look at TZA and TNA in AH. Something not right....
Spent the last couple hours looking at all sorts of goodies. 6:27 to 6:28 was extraordinary. Stocks like S, GM, F, H and PFE experienced up to 20% swings. I have seen these kind of moves before on individual items and across small ranges, but not across this many equities at once. But yeah, when this many stocks get jerked around the corresponding ETFs get yanked around too.
HFT on the verge of berzerk? Exchange data centers puking? wow.just.wow
Edit: Does Nanex have anything on this? LOL
Once you get sucked into a whirlpool of debt, initially the waters seems calm and relaxing but then it starts to speed up, slowly at first and it doesn't appear as if anything is too much wrong... but then it speeds up more... and more and then before the banksters know it they are sucked into oblivion
that would make a good thesis topic, Racer:
"Edgar Allen Poe On Banking"
I think we've passed the Event Horizon a few light-years back.
The only thing that can save us now are the neutrinos from a plutonium life-preserver....
Yeah, before you know it some of them will have to retire to their life of yachting around the world ... oh the horror. The only thing which might suck them to oblivion is a Somali Pirate.
Lemme guess- Corzine's parachute is $710M.....
Corzine is running MF about as good as he ran New Jersey.......into the ground
Well good. New Jersey deserves to be into the ground.
LOL. You mean about as well as he ran the governor's Suburban off the guard rail? Looks like he hedged about as well as he wears seat belts.
Perhaps we have room for Corzine at Treasury, or maybe the Fed could use him.........
Do Not Give Them Any Ideas
What did you expect? There is only one pool of mediocrity where Corzine could flourish - and he's already screwed NJ and the nation. His failure at this was a dead bang certainly.
Corzine was CEO of Goldman Sachs. Until he want away one weekend and from the back seat of his car Hank Paulson staged a coup. That is a true story.
There is no honor among thieves.
More, please. Link?
I love a good dirtbag story.
Corzine for DNC chair! Let's get rid of the hydra.
And be rid of that Wasserman-Schultz moron.
CVA = counterparty valuation adjustment?
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.