• Are Treasuries The Last Diversifier Left?
    Leo Kolivakis
    07/30/2010 - 17:29
    In the first quarter, the US economy grew by 3.7%, revised up from an originally reported 2.7% increase. But growth estimates all the way back to the start of 2007 were revised lower. Moreover, the level of real GDP in Q1 was revised down by $100 billion. Does this mean the secular bull market in bonds will continue? And are Treasuries the "last diversifier left"?
  • Japan: Land of the Rising Debt
    Vitaliy Katsenelson
    07/30/2010 - 13:51
    The Japanese economy operates on the assumption, soon to be proved false, that the government will always be able to borrow at low interest rates. As internal demand evaporates, the government will have to start hawking its debt outside Japan — in a more realistic world, where interest rates are a lot higher.
  • An Open Letter to President Obama
    Phoenix Capital Research
    07/30/2010 - 09:55
    Dear Mr. President, You don’t know me, but I was one of the millions of Americans who voted for you in the last election. I have since been fairly critical of your Presidency largely because I, like many others, feel betrayed by the policies you have enacted upon winning said election.

PPT Hiring Mortgage Quant

Tyler Durden's picture
Submitted by Tyler Durden on 06/29/2009 23:03 -0500



After throwing $1 trillion at the mortgage problem, the president's working group realized that it needed someone who actually knew what the problem was, so it hired TREPP a few weeks ago. And now that they have a cash flow modeling system, the gentle souls with the invisible hands have expanded their hiring efforts, with the latest fat fingered talent sought by the New York Fed being that of an MBS Quant.

In addition to the job responsibilities listed below, a successful candidate will need to be able to covertly purchase billions of toxic MBS securities with taxpayer capital with minor but encouraged spillover effect into equities and other security classes, to indicate interest in $1,000 blocks of MBS securities while in fact purchasing trillions, and to have minimal restraint when it comes to lifting a bid, especially one which should exhibit constantly rising characteristics in a no volume market. The candidate's annual bonus will depend on the general level of the S&P at the end of the year and will be inversely proportional to the number of enforcement cases brought on by the SEC and other so-called market regulators.

Oh, Michael Moore, Oliver Stone as well as foreigners who want nothing less than stealing all of the Fed's trading secrets - you are out of luck: "This position requires access to FOMC information, which is limited to “Protected Individuals” as defined in the U.S. federal immigration law."

hat tip IMA5U

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by agrotera
on Mon, 06/29/2009 - 23:22
#2965

And timmy g. will be back tomorrow to remind us how lucky we are that money is being printed to purchase all this crap so that the TBTF banks can live another day-- we are living in the twilight zone.

And, for any lawyers that are reading, isn't there something citizens can do other than bitching, writing their elected officials, or revolution that could get a recall to the paulson/bernake/geithner agenda?

by Anonymous
on Tue, 06/30/2009 - 02:22
#2997

Remember that we have been through an Economic Coup. If you check Paulson in early and late March, 2008, he speaks of merely managing some delinquent mortgages. Check out a flak named Swagel a few months later and he tells, looking back, that they were all manning the ramparts. It's all lies from start to finish and the October Surprise was given, not by Republicans or Democrats, but by Paulson, Geithner and Bernanke. "When the government is squandering Trillions, what's a few Billions among our friends? Nobody will even care..."

CW

by agrotera
on Tue, 06/30/2009 - 02:35
#2998

I am with you!

We as citizens need to make a proclamation that we were lied to. There were enough clean nosed banks to take over the duties of the failed monsters. The power was always in the hands of congress to give to unwind these entities, paulson and bernake instead spent 3 weeks lobbying for what they wanted for the beloved Fed cartel.

Instead of letting the chips fall, we may have a whole country default...or a slow death to save these corrupt entities.

We need to make a song out of the truth verses what people believe that the banks had to be saved, then demand a revocation of TARP and all acronyms that are wrong...

by Anonymous
on Tue, 06/30/2009 - 04:39
#3015

Alright Nigggaaaz this is what we do. We come up with a 140 character message, maybe TD himself can help formulate it for maximum efficacy, and then get all 5million Zero Hedge readers (or whatever the real number is) to tweet the shit out of it non-stop...until it gets so much International Media attention that the whole national conversation will be focused on it. I have been thinking about this ever since the Iran story broke, because all the press seemed to really care about was the role of fucking twitter in the whole thing (pathetic for a mundane piece of tech) but has anyone staged a mass protest with a unified message on that thing? I believe it would work. Let's win one for the OXY Clean guy.

by agrotera
on Tue, 06/30/2009 - 04:59
#3018

I'm down wit my homies fo de 140 project

by dza
on Tue, 06/30/2009 - 15:32
#3198

Okay, let's get the party started. Maybe need to start a forum on this. I will get on it.

by Anonymous
on Tue, 06/30/2009 - 04:42
#3016

Alright Nigggaaaz this is what we do. We come up with a 140 character message, maybe TD himself can help formulate it for maximum efficacy, and then get all 5million Zero Hedge readers (or whatever the real number is) to tweet the shit out of it non-stop...until it gets so much International Media attention that the whole national conversation will be focused on it. I have been thinking about this ever since the Iran story broke, because all the press seemed to really care about was the role of fucking twitter in the whole thing (pathetic for a mundane piece of tech) but has anyone staged a mass protest with a unified message on that thing? I believe it would work. Let's win one for the OXY Clean guy. dza a.k.a Artist formerly known as adam

by dza
on Tue, 06/30/2009 - 04:49
#3017

double post = my bad
new site = nice, however

by Comrade de Chaos
on Mon, 06/29/2009 - 23:43
#2971

http://www.youtube.com/watch?v=K7Ky5R-vxns

that's how TG & BB picture themselves when they are trying to come up with the new solution: "you can go with this & you can go with that, or you could go with us.."

by ghostfaceinvestah
on Tue, 06/30/2009 - 00:17
#2981

Like the new site, will take a while to get used to the look and feel, but otherwise...

Also, just read the tips on how to read/contact ZeroHedge without Big Brother watching. One other tip that I find works well - use your personal Blackberry (or iPhone, or whatever). They cost next-to-nothing these days, and the data plan is cheap ($5 a month I think). The voice plans are the usual ripoff, but no more.

As I work on a nice, open, light-filled trading floor, it is impossible for the bastards to block my Verizon signal (though they try), and as far as I know, they can't snoop on your personal communications through the cell-network (only the govt can do that). And there are no cameras in the john.

The Internet is portable and wireless these days; no need to tie yourself to the connection provided by The Man.

by agrotera
on Tue, 06/30/2009 - 00:38
#2983

Be careful, and see if you signed any communications agreement. At least one of the old IB's has a policy that all communication devices are subject to review, whether it ur pc, cell, or blackberry.

by ShankyS
on Tue, 06/30/2009 - 00:47
#2984

Off balance sheet experience preferred.

Former GS employee preferred.

I guess GS is the new GE as far as being a desired management candidate.

by Anonymous
on Tue, 06/30/2009 - 02:04
#2995

Seems like this job is a bit too 'number theory intensive' to actually result in a program that will work. Certainly not something that can be sustained in the long run. Note the ongoing financial debacle for further details.

Why has the government decided that getting into this silly scheme can lead to anything 'good'? They can hire a High School dropout and get the same level of confidence. In fact, the dropout would probably do better since he would not even pretend to know the difference between good and bad deals.

The entire 'extended' MBS/CDS market place needs to be eliminated. Failing to unwind all of these 'financial' instruments will only lead to future failures.

Meanwhile back at the ranch, good old Barney Frank wants more unqualified real estate deals to close 'for the good of the economy'. He will need to lean on the rating agencies, like he did last time, to get those puppies out the door. Unless of course, he has someone waiting with a trillion or so in cash looking for a 'good deal'.

by Anonymous
on Tue, 06/30/2009 - 04:02
#3007

5am NY time. CNBC 'futures have been improving throughout the morning again'

by Anonymous
on Tue, 06/30/2009 - 09:03
#3042

President's Working Group. They could have named the PPT as President's Toy Store. An innocent face to the humongous corruption in the politico-economic wall street government mesh.

by Arm
on Tue, 06/30/2009 - 12:21
#3082

This is a great call TD.

Why do you require that a quant analyst have security clearance? Perhaps, because you could label his activities as government secrets so that neither him, nor regulators can divulge what is being done without some SERIOUS litigation?

(essentially, the trader could go to jail for blowing the whistle, unless he proves beyond a doubt that he was being asked to perform illegal activities. The whole trial could be carried out in secrecy, so he would be undoubtedly screwed)

My they are devilishly clever. I had not thought of that one.

by JohnKing
on Tue, 06/30/2009 - 12:34
#3087

Area 51 Financial Services

by Arm
on Tue, 06/30/2009 - 12:21
#3083

This is a great call TD.

Why do you require that a quant analyst have security clearance? Perhaps, because you could label his activities as government secrets so that neither him, nor regulators can divulge what is being done without some SERIOUS litigation?

(essentially, the trader could go to jail for blowing the whistle, unless he proves beyond a doubt that he was being asked to perform illegal activities. The whole trial could be carried out in secrecy, so he would be undoubtedly screwed)

My they are devilishly clever. I had not thought of that one.

by Anonymous
on Tue, 06/30/2009 - 14:55
#3172

good articles: http://bit.ly/12NCJR worth aa read

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