Second Bank Scrambles To Defend Morgan Stanley Against Vicious "Blogger Attack"
Earlier today some blog pulled up some factual data that suggested that Morgan Stanley had $39 billion in total exposure against French banks at the end of 2010, up $30 billion from the year prior, and enough to wipe out its entire market cap and then some should French banks be pulled under. Sure enough, the stock tanked even though as CNBC pointed out "there was absolutely no news." Since then, first Credit Suisse defended Morgan Stanley for its "European exposure" (we wonder how long before Morgan Stanley returns the favor and has to defend Credit Suisse for its US exposure: judging by Credit Suisse's maximum outlier 3M USD Libor rate, not too long). And now it is bank #2's turn, in this case Alliance Bernstein, whose conclusion is that "we estimate that total risk to France and its banks is less than $2 billion net of collateral and hedges." Ah yes, collateral and hedges, which, lest we recall incorrectly, did miracles when Lehman blew up and the very fabric of net hedging offset was threatened when the viability of the initiator in the "gross" CDS chain was put into question (thank you AIG). Naturally, if and when the 3 Big French banks go down, everyone will be perfectly normal and have no problem netting of hedges. Naturally. As for the coup de grace in the AB report, it is this piece of rhetorical brilliance: "Over the last six months, there have been 5,600+ articles published by the press on the subject of "French Banks" and "Credit Risk". We believe Morgan Stanley's risk management staff and its trading units are fully aware of the highly publicized risks emanating from Europe and warnings about the firm's potential exposure to a European Sovereign crisis." And there you have it: just because everyone is aware the bank is doomed, means the bank is ok. See, this is nothing like the logic that comedy entertainment icons such as Cramer and Dick Bove used to endorse Bear and Lehman days before both imploded. Then again, the downside for AB to actually tell the truth is substantially higher (as in contagion which takes down the entire banking system, AB included), than the upside from, well, prevaricating. As for abovementioned blog, we are just waiting for the third bank to come to Morgan Stanley's defense to know it was 100% correct.
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Ummmm..God Bless Zh and au
http://zerohedge.blogspot.com/2009/07/i-was-interrupted-from-peacefully.html
So if it's just a rumor, why did they need to dispell it?
Hilarious! Keep it up Tyler. Banks = fraud. Fraud is a criminal offence. Banksters need to go to jail.
Do you want to know why we're going into a deflationary depression.
Every bank in the fucking world is insolvent--sitting on a pile of shit.
You couldn't run the global printing presses fast enough to deal with that mountain of debt.
Big collapse on the way.
Deflationary.
http://geraldcelente.proboards.com
Sell the rumor, short the news.
That ought to be a game changer.
Damn bloggers. Of course I decided to let MS join my stable of shorts because of that blogger. It joined BAC and JPM, which are making me 20% and 10%, respectively. OH yeah, that long FAZ is doing ok too. Damn bloggers are the whole cause of it.
More santorum coming out of Zero Hedge. Move along.
Sure they can. Give Benny a gram of China White and a coffee pot full of rocket fuel and hell tap 0's faster than a squid trader can plead the 5th.
That is really funny! Nice one.
All fiat currency collapses have ended in hyper-inflation. Even then some things will deflate and others inflate. Staples and needs will hyper-inflate and discretionary will deflate. You won't be able to buy a bushel of grain with fiat but the spare TV won't be worth $5.
+100 traderjoe
Throw in the value of the USD to Yuan after hyperinflation really sets in.
Realize Motts Apple Juice, ALL Walmart branded canned goods, Kraft Mac 'n Cheese and Gerber baby food is made out of the country, not to mention insulin, aspirin and bandages.
Ugly. Everything we need will be out of reach, our labor (unless in unions/government, and those won't keep up forever) discounted.
99% of Americans, even here, refuse to see what truths our future holds.
Poverty, it seems remains as america's last and final growth industry. To the moon alice. Infinite growth.
We pledge allegiance to America
and to the 700 cable channels of which it spans
one nation under ben
insufferable
with poverty and delusions for all.
Ladies and Gents, can we all say it together, Quadrillion?
Cool link. Zero Hedge not real reporters like Steve Liesman! Classic. But stop screwing with the Canadian banks Tyler...seriously.
-Jim Flaherty, (gasparino tough)
As for Alliance Bernstein...I just recalled how I knew that name...
AB screwed over at least 1 IBEW* Local's investd pension funds, abt 4 years ago. The Local took the hit and eliminated the option to place funds into AB. Good riddance. IMO, personal experience, they scammed the Union workers' savings.
*Int'l Brotherhood Electrical Workers
Tyler is a bad motha'!! Damn I just love the truth for some reason.
Finally we don't have to look at your nuts any longer. Thank you.
it had to be said
those weren't labia?
i must need fuking trifocals and i'm thoroughly disgusted w/ myself. again!
gotta love carnac, tho! L0L!!!
Now if we could just get LongBallsShortBrains to get over it we would be set.
It's not true until there's been an official denial.
That's morgan Stanley fucked then,
NEXT!
AllianceBernstein LP (NYSE: AB) is a US-based, global asset management firm, owned by the French insurance conglomerate, AXA
one culprit pats the others back
but someone has a monkey on his back
we learn that with AXA and its highly leveraged PE Business, there is another short candidate for the impending implosion
Amen,squared
New ad for Brownells Ammunition on ZH?
Must be cap a bankster day.
I just can't figure out why all these legit websites are hosting ads for peruvian albino porn. It must be getting popular... with people not including myself.
nah its just google tracking your usage. :-)
The horrors!
Now I'll never be president!
"peruvian albino porn."
"Now I'll never be president!"
Careful there - you may have just outed yourself as an SEC troll!
That was some funny shit!
hurry shred the internet history!
You crazy fuck...
http://www.youtube.com/watch?v=TFLV4ishK5U
EU Banks Infected
Uploaded by TheAlyonaShow on Sep 22, 2011
Fears about another global financial meltdown, continue to grow. Stocks plummeted today, with the Dow Industrial Average at one point falling as much as 527 points. In Europe, Standard & Poor's downgraded the ratings of seven Italian banks and headlines were running wild, about French banks looking for cash in the Mideast, although BNP's CEO denied those claims. This week finance ministers from the BRICS nations are meeting here in Washington at the IMF. But how much good could they really do? Economic Analyst, Gonzalo Lira weighs in.
ZH getting lots of hits, more people getting away from the MSM pump & dump.
Sorry dude, New online advertising - ads are personalized for you! Combination of tracking your online sites, contextual advertising and past purchases.
apparently i'm into silver and russian brides
In soviet Russia, brides are into silver! (Couldn't resist ressurecting an old meme.)
I use adblock and donate $50 to ZH every few months.
ADblock is a wonderful tool.
I do the same. I find advertising so nauseating that if I couldn't filter out the ads, I'd have to stop using the internet. I am a very frugal person, but ZH is so worth the money. I don't support the advertising business model, but I do support ZH with direct contributions. I'll just add that I think the ZH advertising business model is more sensible (if the goal is reach a large number of people) than subscription services will ever be. Yes, there will be some fraction of people who will get the benefits of TD's work for free, but financial truth is a growth industry. Volume will overcome reductions in marginal returns. And then there are people like you and me who will just donate from time to time. All I can say is: long live ZH. And thank you Tyler(s) for all the work you do.
Was wondering why ZH would advertise Peruvian Albino Whizzers for sale.
Hey, this could be fun!
It can be!
Because of geo-location I get lots of ads for miners and Canadian Banks when visiting this site (others never mind)
@espirit
Google adsense uses your browsing history to determine which ads are posted on your screen.
Not just Adsense - most companies dropping a little codelet on your browser.
Strike through is still not working!
Time for a dump then.
Geez, now all I see is Cramers face advertising financial porn.
I give, make it stop please!
https://addons.mozilla.org/en-US/firefox/addon/adblock-plus/
You can block all the adds that way, but how do the Tylers make a living?
Exactly, I get ads for PM co's, travel related sites, and DSW. I click often to support ZH and my addictions at the same time!
When the peeps realize that ZH is a very valuable service and find the donate link at the top of the page?
Whoa, that's better. Now all I am getting is ads for Ukrainian Albino Pygmy Hookers w/ammo.
If you are getting porn ads then you've been doing research at the same sites as the SEC investigators are using.
....that would be "barely legal, transexual, dwarf porn creampie sites with bestiality" I assume....
Why do you think they call him Chicken Little?
why doya think they call her rosiescenario?
Because she comes when you call her name?
Well, at least you have to give Brownell's management credit for figuring out the right audience for their ads....but where are Midway, Natchez, Cabella's and Cheaper than Dirt?Must be out of touch with reality.
Tyler...get your ad sales person on those other names immediately....just say that Brownell's is a customer....
,,,and on a final note to all the silver bugs, my ammo stash performed better today than gold or silver....
"First they ignore you, blah, blah, blah, then they attack you..."
"Methinks thou doth protest too much..."
Etc., etc., etc.,.
Keep it up Tyler(s)
DICK bove.......whaaaaaaaat!!
Thank you for posting that clip. It brought a huge smile to my face!
Tyler stated it best:
"Zero Hedge is not about personalities, goatees or glasses - it is about ideas, facts and opinions. People come to Zero Hedge not because of my chiseled washboard abs, but because they appreciate my insight into things financial and economic. My personality is not relevant when discussing critical concepts. Who knows - maybe I do not care for being recognized while having dinner at Campagnola."
from tomreagan's link (wld you believe no caps? L0L!!!):
our mission:
our method: pseudonymous speech...
anonymity is a shield from the tyranny of the majority. it thus exemplifies the purpose behind the bill of rights, and of the first amendment in particular: to protect unpopular individuals from retaliation-- and their ideas from suppression-- at the hand of an intolerant society.
...responsibly used.
the right to remain anonymous may be abused when it shields fraudulent conduct. but political speech by its nature will sometimes have unpalatable consequences, and, in general, our society accords greater weight to the value of free speech than to the dangers of its misuse.
- mcintyre v. ohio elections commission 514 u.s. 334 (1995) justice stevens writing for the majority
though often maligned (typically by those frustrated by an inability to engage in ad hominem attacks) anonymous speech has a long and storied history in the united states. used by the likes of mark twain (aka samuel langhorne clemens) to criticize common ignorance, and perhaps most famously by alexander hamilton, james madison and john jay (aka publius) to write the federalist papers, we think ourselves in good company in using one or another nom de plume. particularly in light of an emerging trend against vocalizing public dissent in the united states, we believe in the critical importance of anonymity and its role in dissident speech. like the economist magazine, we also believe that keeping authorship anonymous moves the focus of discussion to the content of speech and away from the speaker- as it should be. we believe not only that you should be comfortable with anonymous speech in such an environment, but that you should be suspicious of any speech that isn't. (end paste)
read that last phrase again, and help me "suspect" the adbots and perpetually self-adveriZing shitforbrained trolls! please junk them like you're NATO fighter jets killing, er..., protecting innocent civilians in libya!
and thxz, tomreagan, whoever you are! L0L!!!
Top is in. Enjoy Monday's open. LOL
"WELL CAPITALIZED." Dumb fucks.
you seem to have some special time warp dynamic on your side so if it's not breaking any laws here or on Alpha Centauri, perhaps you would be kind enough to share with your fellow ZHer the specifics of the closing numbers on Friday.
If you were my fellow ZHer, you would know the closing imbalanced on the buy side, which are a certainty today. I bet you will be one of the 90% of entities, who BTFB, a decision devoid of any reality.
the real question is; what day is today?
six to one eddy... go for it
(Sincere apologies if you are in Japan)
Prettty sure the market crashed several times in August without alot of help from the fed.
"BTFD" is a very, very good strategy... better than "BTFB" (buying the fucking bubble.) All that matters is what you're buying.
The GOP debate is starting, do we get a thread?
Ron Paul Explorer: The All Paul Search Engine
http://www.foxnews.com/ right corner of the page. You may already have another link.
ron paul just got a 10th amendment question...right in his wheelhouse...audience seems pretty enthusiastic about his answer
His concise answer was too short -- Wallace had to tell him he had more time to use. Ron is so used to getting shut out that he gets to the point real quick.
agreed...at least he wasn't asked a "let's try and make this old guy look crazy" question
Wait till we get to foriegn policy.
Wait for it.
is it me...or is this the fuckin perry vs romney show? i'd like to see how much time they were given v the other candidates in this thing...
It does seem like it's Itchy and Scratchy's show. But it was a pleasure watching Huntsman knock back Santorum over the Global War on Terror.
"government destroys jobs, the market creates jobs"
- dr. paul
Ron's comment on abortion was fantastic -- the problem isn't the law it's the character of the people. That's one of the few statements anybody has every made about that contentious subject with which I can agree 100%.
Where's Electron Paul?
Vote for the winner of the debate here:
http://www.foxnews.com/opinion/2011/09/22/who-won-debate/
Current stats:
Mitt Romney 21.63% (2,063 votes)
Rick Perry 12.42% (1,184 votes)
Newt Gingrich 7.52% (717 votes)
Ron Paul 37.62% (3,587 votes)
Rick Santorum 1.75% (167 votes)
Gary Johnson 1.79% (171 votes)
Herman Cain 13.52% (1,289 votes)
Michele Bachmann 1.87% (178 votes)
Jon Huntsman 1.89% (180 votes)
Total Votes: 9,536
thanks for the link
So who is leading?
Poor MS.......boo fucking hoo
Crying Towels monogramed with "JPM" will be arriving to the Morgue shortly. That and Credit Suisse is about as reliable as the weather in Texas, and as honest as Baghdad Bob evidently, they just made my list:
http://www.youtube.com/watch?v=LrllCZw8jiM
These are the rules for Liar's Poker. Game on!
Dont worry. Morgan Stanley won't need any extra capital what with their huge depositor base. That plus ZIRP, Flat as a Chinese whore yield curve and big average trading volumes will save this particular 'bank'
It is true, this is "some blog"
Go getum Tyler!!
damn those bloggers
All your blogs are belong to us
....i mean... enemy combatant.. i mean; ceo perspective.... ooh i give up....
Alliance Bernstein? Let me tell you about Alliance Bernstein...crooks. They paid like a slot machine when cornered with legal action, though. Fuck you, Alliance Bernstein. My deepest sympathy for their clients...if they still have any.
@Village Idiot
Where have you been? FYI, refi in process for a 3% 5/1 ARM.
All is well my friend. Do you still have my contact info? Get in touch...
Good to hear! I miss a lot of the oldtimers around here. Just sent you an e-mail.