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SocGen Asia Strategist Has Near Fit On Bloomberg TV After Making It Clear That It's All The Blogosphere's Fault
SocGen's Todd Martin, who is the bank's Asia equity strategist (and, despite being regulated, failing to disclose he worked at Morgan Stanley previously), appeared on Bloomberg earlier today to discuss the Volcker Rule and prop trading, against which the anonymous blogosphere had some very "strong views" back in 2009 before anyone had even considered prop trading. Sure enough, prop trading ended a few months later with the adoption of the Volcker Rule. Somehow, the topic of the Volcker rule shifted to the topic of whether or not Morgan Stanley is exposed to France, and its insolvent banks (ahem), and who is to blame. Take a wild guess on Mr. Martin's opinion in the matter: "For example one blog just a week ago, had a very, very strong view against Morgan Stanley. They quoted Sanford Bernstein who actually was telling people to buy the stock. And then they were quoting Gross Exposures not Net, and then concluding that Morgan Stanley had to go down and be dismembered [sic]. Now I have a serious problem with this.... If I get regulated why isn't this place regulated. It's also very dangerous because they are using psudonames [sic] and we don't know who they are. They could be the guy on the street. They could be a hedge fund dangling out information. It could be the head of a prop desk. Thing is it is supposed to be regulated. And they get their revenues from trading platforms on US soil. And I don't think it's fair. And I think the US should go and take a look and regulate the blogosphere. I think it's really, really out of control." In other words: it is all the blogosphere's fault.
Where does one start with that one. First, we understand why you are angry Todd: after all, your employer recently blamed the blogosphere for blowing out the spreads of SocGen, which then used the stress test part two to defend itself... You know, the same stress test that saw insolvent Dexia pass with flying colors if not in first place. Second, we inquire Todd and his regulators, to advise on how it is that he concluded that a "blog" had "very, very strong views" on a company when the only information presented was a blurb from a 10-K with the following advice: "We'll leave it up to readers to find the relevant number." Furthermore, the AB report was naturally quoted as follows: "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."" Apparently they were, and their only defense is "bilateral netting" which failed with an epic bang when AIG was nationalized, and had to hope and pray for mainstream media rumors and a wholesale market squeeze to send their stock higher, thus avoiding a death spiral.
Lastly we won't go into the accuracy of Mr. Martin's China predictions (we are happy to) and leave the question of "fairness" to those who may have followed his regulated advice. But our advice is this: Mr. Martin's credibility and future employment status is predicated upon his accuracy, not to mention how much money SocGen will be able to take out of taxpayers when and if it is forced to recapitalize shortly (which uber-regulated Credit Suisse seems to have some very, very strong thoughts about and believes it is the most undercapitalized bank in Europe). He should probably worry about that. And let the anonymous blogosphere worry about its own credibility. After all, if there is none, nobody will listen to it, even if "it is out there." If, however, it provides critical information that is missing because gentlemen like Mr. Martin are conflicted from telling the truth when their own job is at stake, then we say: onward, upward, and always twirling, twirling, twirling. Because without the natural filter to the endless bullshit that the sellside spews forth (where was Mr. Martin warning that Dexia was about to fail and actually saving people money for a change?), losses at the retail level would be orders of magnitude higher.
As for revenues, Mr Martin, it is all ads we are afraid: feel free to click on one or two, because we doubt we will be bailed out when we need a few billion in bailout funding.
Full truly hilarious clip of a sellsider having a near-nervous breakdown due to a blog. Fast forward to 4 minutes in.
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blogosphere = domestic financial terrorism
see you in the re-education camps, bitchez
but, it is 100% ok for that fatass liesman to go on national tv and make up silly rumors to get markets higher.
something has to make his ass fat
Will I have to take out large loans for this re-education? Will it make me more employable?
After re-education with official data and analysis, you will be employed for the rest of your life.
Hitler and Stalin (everyother dictator...) would love this guy .... how about identify these bloggers and sent them to gulag ....
talk about killing the messenger ...
The reason for HIS regulation is he gets PAID to give advice and malpractice insurance for investment bankers would be a bitch.
Blogs are free. No regulation. What a fucking douchebag. He's been infected by the asian mentality on free speech.
Mr. Martin, the blogosphere eagerly awaits the day we get to force-feed you a shit sandwich. We want to see you and the rest of your kind go down in flames. You think this is out of hand, but you have seen nothing yet. You fuckers with your pumped up kicks, will you be able to outrun what is coming?
+1
Funny that he uses the phrase, "out of control." You're damn right it's out of control, that's the entire point of the blogosphere, and no one would read it if it was controlled by assholes like this.
This guy is damn lucky there is a blogosphere where people can vent their anger. So far it has kept him safe.
I don't know about you but I think he's talking about that bombthrower Durden again.
Ty... time to regulate... we'll do it the same way as Wall Street.
Self-regulate! :)
First they ignore you... then they mock you... then they fight you... then you WIN!!!
Amon other things, Zionist bankster ponzi-schemers and the Left have this in common: they hate Free Speech. Facts triumph when people can speak their minds. Look at the way the blogosphere ripped down that ZOG false flag about the "Iranian used car-dealer terrorist"; making the TPTB...very....angry.
Skitter back under yer rock.
...flames are aaah coming my friend.
This guy is both an idiot and a liar.
He "forgot" to mention that he is paid for his services. The point is quite simple: when you are paid you are responsible for goods & services you provided for fees. Consequently, you must be regulated and you must carry an insurance to pay for damages resulted from your work.
It's a thin line between slave ownership and employment for the sake of employment in this universe at the moment.
Yes and Siberia is really lovely this time of year hahaha ...
It's all the lubricant or absence of same after getting his marching orders from the C Suite. Davey, I suspect he's just jealous he can't last as long at lunch as his betters can at breakfast.
This guy is the poster child of idiocy in Wall Street. Blogs should be regulated or only Wall Street should disseminate financial information. LOL. Amount of money lost following Wall Street advise: Billions
"Regulating" blogs = censorship = Ministry of Truth. It's amazing how scared these guys are gettting...
But when FT and Bloomberg help us out with unsubstantiated rumors, that should be left untouched. Those damn bloggers and their facts muddying up things.
I like this quote:
- "The bottom was put in Oct 4th"
o - "Are you sure?"
- "I am definitely sure"
If this isn't a famous last words moment, I don't know what is.
I hope someone gets a video on their smartphone of this idiot crying while standing in his own urine and feces after being completely wrong.
Mr. October, Todd Martin, calling his shot on Bloomberg TV!
Maybe he should stop cruising Chinese casinos with his little kid, and instead get down on his knees everyday and pray to God that we don't see 1070, because the blogosphere won't forget his pretty, pink, petulence.
Is it weird that I'm thinking about printing up your post and hanging it on my wall?
Poor Todd never learned that picking bottoms is for monkeys. Probably too busy with the speech therapists, but at least he got rid of most of his lisp.
At least he's not picking his nose.
My, my, we didn't get our "num-num's" today.
I noticed more that on the verge of crying appearance throughout.
If the OWS group ever focus's their rage in the correct spot, those tears will start and never stop.
From what I have seen, and what I have read about their backers, that will never happen.
This bloke is an analyst on Asia? Doubtful, as he would certainly know the ancient Asian proverb - rumored to have originated from the Japanese rice fields - that goes something like: 'man who picks bottom gets stinky finger'.
This will probably be written on the guy's tombstone when he dies.
Watch his body language when he says what you quoted. It seems obvious to me he's lying.
I've noticed something off with his body language too. Most notably at about 4:20 he start pounding his fist into his palm effectively making the producer change back to camera 1 (close-up) after being in full view on cam 2 for under 2 seconds. I'd interpret that as "I want to bash Tyler's face in". Beside the obvious constant blinking issue (unless it's an neurological issue a dead sigh he'd rather be somewhere else), it also appears as if he does not want to look into the host's eyes for some reason. Somethingabout him gives me the creeps.
But what do I know? I've only done a little research on expressions and body language. I hope we have someone with more expertise that can tell us more.
Check his body language as he says it: He's flat out lying.
[edit] Oops...Two dawgs singing a duet!
LOL, well both of you are right. He actually nods no while closing his eyes! Amazing.
I was disappointed that the camera was kept so tight on his face during the majority of the interview. When they pulled back at the mid-point of the interview, the one hand smacking the palm of the other hand during his diatribe about the "anonymous blogs" was interesting. It might have been equally illuminating to watch more of him through the rest of the interview.
Cognitive dissonance in action!
Good one!
Reminiscent of Bernanke's "factual" statement in 2007 "The sub-prime mortage issue is contained."
Amazing how these morons are so easily caught in their own traps.
Nice Bottom Call. In the beginning he also said there was a high risk of severe downturn. Voice quaking the whole time.
Embarrassing desparation.
He said high risk of downturn if EFSF not capitalized at €1 trillion.
What are the odds? What are the odds?
Anyone?
Exactly. He's whining because he wants to be the source of unsubstantiated rumors and disinformation. He and those online rags like FT and Bloomberg.
Ya, they always shoot the messenger. Criminals must get away with the loot even if they have to kill you for spilling the beans of where the getaway car is going. At least I posted how to trade it so maybe I'll get to make circuits instead of solar panels at da gulag. If you tell me to get into that oven though I am going down swinging. Fool me twice kinda thing ;)
OT: I just looked into the generous assistance provided to me as my business was destroyed by the recent flooding of Irene. SBA disaster loan...4% 30 year term... sounds great, right? NOT read: http://secondwindconsultants.com/2009/06/13/sba-does-it-again-part-three-another-bad-deal/
The worst part is, this is all in the "fine print". Yeah take the loan, if you can't pay back we take the shirt off your back, don't even try to negotiate in bankruptcy. JOKE
Good ole Benevolent Dictators. All your property are belong to us.
I sure do hope we'll get roomservice....
Room Service = Free Showers and Plenty of Natutal Gas HEAT!
After watchining his live meltdown, I kind of wonder if he lost of money in Morgan Stanley and is blaming Tyler for that. :)
Well done Tyler! We couldn't care less if you are anonymous. Keep speaking truth to the power.
For the record; while I'm not a big-shot, power player on Earth...
Amen. Keep it up. Keep "men" like this whining like petulent, spoiled children who don't get their way.
Anonymity is the final refuge of honesty and the final check on power.
~otishertz
The tyrant wears the mask. You can not wear a mask.
He still does have some MS options from bonus payments at his former employer?
Is it only me that checks Tylers output?
Ive been back to the original data feed on maybe 15 occasions over last 6 months to double check Tyler and I ve not caught him out yet.
And trust me Id let yoall know if he 'dropped a bollock'
Well done Tyler
Nothing to fear if you speak the truth ( except if you work in Fin Servs, Government or Law)
listen to the beginning!
listen to the words of a Master of the Universe:
"... they know they have to... (pump)... one Trillion (he is talking about the extended EFSF)... or the bears will tear them apart..."
this fucker really thinks he owns the planet and that they owe to him to find the trillion his "industry" needs
I noticed that too. Basically "We have them cornered and if they don't give us a trillion Euros, we will pull the plug." Thank goodness they are talking about the world economy, otherwise it would of sounded like a blackmail scheme.
Hear hear the ten commandments ...
1. Go long the market OR ELSE
2. G20 better deliver OR ELSE
3. Recapitalize 1 trillion OR ELSE
4. ECB should do as Ben does OR ELSE
5. Buy bonds with digital fiat OR ELSE
6. Regulate the blogosphere OR ELSE
7. Stop quoting gross exposure OR ELSE
8. Regulate the investment advice industry OR ELSE
9. Stop using pseudonames OR ELSE
10. Wall Street should disseminate the info OR ELSE
What a cocksucking asshat. Yeah, a trillion or two or ten? This stupid bitch moans like a crybaby, frightened for not getting his dose of crack.
No probs . get them to call me and I'll put it on my Morgan Stanley Buy and Fly Card.
One trn? Fuck all.....
Print more!
So he's saying a) that he doesn't like free speech, and b) that Wall Street is regulated (despite all evidence to the contrary).
Keep it up guys. I'll be looking forward to the much needed Reign of Terror.
this guy is a douche. ask his 8 year old what he think of casinos and he said this place is so boom. good reason for investing. We all go long casinos and barney the fking dinasour.
Specifically he was talking about Macau, which is just parasiting on Mainland China through a regulatory loophole and not by being particularly competitive or innovative.
And boy did he not mention the rampant money laundering activities, VIP junkets taking 75% of the market or the extreme ownership concentration of Stanley Ho.
BUT DAD THIS PLACE IS SO BOOM!!!
He has a problem with well researched, continually accurate non-equity cheerleder reporting that the market obviously values. He doesn't have a problem spewing investment advice from his 8 year old.
i thought he was gonna cry. Poor baby.. He is very sad. That damn blogosphere. How about we just censor the whole internet and get it over with. The problem is not the information. It's the derivative market and fraudulent buisness practice of these masters of the universe.
That is where you might be wrong. The problem (for them) IS the information.
Just like the printing press was when it was first introduced.
I'd love to know this douches thoughts on Thomas Paine
Yes its a crying shame that the MSM is losing its monopoly on brainwashing the masses. There is no conflict of interest in MSMs advertisement dollars, CEO interviews, and gov/company sponsered economists. Good solid research provided by who, all you guys that got it so wrong. No thank you, I'll take my chances with the blogosphere.
Would this chump stand up the the schmucks that tried taking down SVM a few weeks ago? I doubt it...
I guess he's still a bit pissy over the unearthing of their 50x leverage/2% capital ratio back in August.
longest thread ever w/o a downvote, you guys gettin soft on me?
Hating this guy is something EVERYONE can agree on.
Still circling the wagons round Morgan Stanley.
Todd, and his circle of SocGen confidants...
http://27.media.tumblr.com/tumblr_l7r25gzamZ1qbhz0xo1_500.jpg
http://www.linkedin.com/pub/todd-martin/12/683/662
Past
I hope not too many people use the "Contact" feature of this website to say nasty things about this upstanding young man... http://www.sgcib.com/
I couldn't care less about him, but he did seem to sort of come apart when talking about regulation.
The thing I really don't like is the demonizing of blogs, which is pretty analagous to a 'war on terror' or a 'war on drugs' scenario where the enemy is not a fixed defined target.
It's the same undeclared war on truthful information that TPTB have been waging for a very long time.
As ZH deftly pointed out - And let the anonymous blogosphere worry about its own credibility. After all, if there is none, nobody will listen to it, even if "it is out there."
And as a poster above pointed out, no one cares about the rumors from MSM as long as it pumps the market. (e.g. plan of a plan of a plan to bail out europe)
One irony is how he decries the blogs for being supposedly anonymous, yet doesn't have the guts to even come out and say the name of the blog he's criticizing... This puke feels justified in calling for draconian censorship without even giving a tangible example! (I'm sure he knows how uber-weak his case is, and generally speaking doesn't want to give a link to the MSM audience for decent 'real' news...)
What a monstrous Orwellian future he hopes to bring us to: we would only be able to get news about finance from Wall Street itself! Can you imagine the BS and market manipulation we would become subjected to? Worst of all, you can be sure he isn't bringing this up by accident: no doubt 'they' are mulling such moves...
Can you imagine the BS and market manipulation we would become subjected to?
Mind if I give it a shot?
I imagine "news" would just become obsolete. It will go something like this:
Wallstreet: Give us your money.
Nevermind. He'd be a waste of rope.
He won't survive on his own after the crash anyhow.
True, to the point AND witty. Nicely done Larry. +1
Don't need a rope, he's wearing a tie.
I'm shorting SocGen as I watch...
This place is "so boom." Te he
... well well ... Todd: Another reason to short SocGen.
Honey, have you seen my dog shit bags and lighter fluid?
They're downstairs with the graphic art dear.
Nice one ;-) If the fool shits bear it...
Mommy, Mommy, the world won't devote itself to making me look good. Whaw!
Free speech is bullshit! Make daddy tell everyone to shut up so I can talk!
There's a reason it was the FIRST amendment.
"There's a reason it was the FIRST amendment."
Yeah, but not the reason you're implying. 'Freedom of speech' is the first amendment of the Bill of Rights because, of the original twelve that were proposed, numbers one and two were stricken, and the third--free speech, religion, assembly--became the first that survived to be codified. The original first article pertained to the aportionment of representatives, and the original second article later became the 27th amendment, pertaining to congress not being able to affect a pay raise for themselves before a new electoral cycle.
ah diddums
"congress shall make no law.............abridging the freedom of speech, or of the press......
Merely a piece of paper.
Backed by millions of arms and (?) the will to protect it. USD vs USC...FIGHT!
Look! You're free! It says so right here..
Now get your f'n ass back to work and pay your war taxes!
Isn't it curious how the solution to every problem now involves tearing up the Constitution?
Hurry up and finish running that sumbitch through the shredder. It'll be a goddamned Utopia, I tell ya! /sarc
So do blogs get tarp funds then?
Good question.
I bet this guy cries all over his pillow case at night while he reads ZH comments on his iPad 2.
Him too?
Of course, I just have an iTouch, and can't focus on the tiny text at bedtime.
whine and cheez bitchez.
Psudonames... Is that like groinocologist?
Does this mean that Steaming Wookie Doo is not an authentic, given, Christian name?
"Steaming Wookie Doo" ... porn star, stripper or both?
pseudo, you know, like Longacre Fund Management LLC. Not called the squidly bank holding company, so it's okay! ;)
His boyfriend must be holding out. Nerves seem a bit frayed.
stateside
DAMN YOU TYLER!!
THE GLOBAL CRASH IS ALL YOUR FAULT!!
Not entirely his fault.
It is also the fault of those who have never been elected, the people who can't spend money in the shopping centres, the weather god, and... well, basically, anyone but the elected politicians and their monetary masters.
No wonder the Watergate gets more traffic than the Mayflower...
More regulation is the answer!
+ One green because you didn't mention which question you answered
link to be pulled in 3,2,1...
The person who shouts and yells is generally the one that is most at fault... they try to intimidate the other into doubting themselves..
they can't face up to the fact they themselves are wrong
The "He Who Smelt It Dealt It" economy?
"The lady doth protest too much, methinks."
Hamlet Act 3, scene 2, 222–230
"Thats's no Lady, that's my Broker....."
Fur Trader, Act 1 Scene 1
PS Tyler, full disclosure, please... as for revenues it includes Fur Trader's $100 (Can.) donation. I've just decided to up it to $200. Cunt.
Bullish for whine and gubment cheeze!!
WOW is this video feed buggy! Its dumped my browser twice in a row!
Time to upgrade your dial-up service to the full 9600baud.
Whiney bitch
Love it - come get me Whiney McCrybaby
"I don't think it's fair..." = LOL !!!
Just what you would expect from a Todd !
Don't be a TODD
http://www.youtube.com/watch?v=oo8CrY_ZfFk
There is a reason this guy is on the sell side instead of the buyside and this proves why... GET A CLUE IDIOT !
http://www.youtube.com/watch?v=QOci_t-nHGQ alt vid link. bloomy is still using cups and string.
Quick, get that pussy a tampon
He reads the Pink Sheet [FT] .. same difference
Tyler,
Are you running a Hedge Fund and duping your readers? Shame! Expose yourself or I will have to go back to CNBC where all of their motives are clear and un biased!
(Ha, what a pussy this guy is!)
Why the disrespect for all the quality pussy out there? Calling this sorry excuse for human flesh a punk would be a serious disrespect to all the honest, hard working punks in penitentiaries the world over. No wonder he is a sell side sub.
Please tell us which Hedge Fund you run Tyler - we're all desperate to buy into it!
yeah, CNBC is nothing but cheerleaders...they should be regulated...at least this guy doing the interview acted like a journalist...at cnbc they would have been chest bumping after that comment
Banksters all hate transparancy. They hate their corruption, and batardisation of society being called out to the peasants.
These guys hate the blogosphere it reveals how they shit in everybody's beds for a living.
Truth is the enemy of corruption. Banksters hate truth as much as their mothers, whom they earlier sold into prostitution. Get the picture....banksters who fear truth reveal themselves to be low lifes.
Open Source research strikes a nerve with Wall St too.
Todd thinks information should be "paid for."
"Banksters who fear truth reveal themselves to be low lifes." +81
While he is a whiney bitch, not sure I would call that a melt down. Slow day out there to even mention his take.
blogs aren't allowed to have opinions. interesting take.
Nor are they allowed to use facts from other researchers or make comments about that information. I'm sure ZH will not last the week.
Well ... duh! Of course not. Blogs should just circulate the output of the paid analysts the same way the MSM does the Press Releases of official agencies, after all, such insiders are privy to information the rest of us poor unwashed plebs never see, and, of course no-one in a position of such high responsibility would ever stretch the truth to make more money or to make themselves look better, would they?
Oh yeah, right. That's why there is a blogosphere in the first place.
you wonder why he is defending MS: he worked there.
abd he just got out of CLSA before Allen Lam's insider conviction.
http://hk.linkedin.com/pub/todd-martin/12/683/662
Oh dear, how did this loser ever get out of mom's basement? I bet his mom was in the studio waiting him and bought him a lollipop after the interview. Poor bastard was almost crying.
Mooooom, meatloaf! I want meatloaf! How can i not get meatloaf when the other guys get meatloaf?
Seriously Todd, grow up.
How can you have any meatloaf, if you don't eat your pudding?
If you don't eat your pudding, how can you have any meatloaf?
Hahaha what a weasely little cuntface.
Bankers should not be campaigning against civil rights at this juncture. Seems like this guy doesn't understand what is going on outside his window anymore than he understands how to do his job.
LOL, "Wallstreet alone should disseminate their information". Yeah they are regulated...so very regulated. What an arch-asshat this guy is. I think all political information should ONLY come from the RNC and DNC third parties shouldn't be allowed. I think polluters should do their own pollution info dissemination once we get rid of all regulations (ala Glass-Steagall etc. etc.). This guys thinking is so odious it's beyond description.
Cockroaches shun the light.
I promise from now on to, er..self-regulate myself. There job done.
Sell Morgan Stanley! (That OK with everybody?)
I heard you can go blind doing that
Maybe todd should focus on explaining to the "street" why MS stock (GS)hasn't skyrocketed up under the guise of the EMH and his all clear. A near perfect microcosm of the sell side wasteland
I'm short Todd's house
I'm short the name Todd.
What a stupid, stupid name for a stupid, stupid person.
HURRY!!! SHUT DOWN THE INTERTUBES!!! THE WORLD DEPENDS ON IT!!! SAVE THE BANKSTERS FROM THE BLOGGERS!!!
This A$$hole has the entire official media with him and is afraid of the truth from the blogs.
He has the official etsbalishment who changes accounting standards to his requirements, the governments to hand over public money to him but cannot tolerate the truth and opinion from blogs.
A real Prized A$$hole who deserves to be put to pasture if not behind bars.
Let's give him a nobel peace prize!
"LONG ONLYZ entering the market"
Holy shiT!
And he said "The Bears Will Take Over" Someone tell Stephen Colbert not to go to work today, shut the windows, lock the doors and hide the honey.
I'm trying decide if he really just said that or my mind played jedi mind tricks on his lips to exact sync of the voices inside my head.
Irregardless, I still want to be a banker now more than eva.