For years I have warned of the impending European collapse. Now, as it is happening, we still have banks getting away with nonsensical 60% writedowns on essentially worthless debt. LGD > 100+% - You ain't seen the worst of it, not by a long shot!
Tyler is pretty sharp. He busted Morgan Stanley more than once. Reminds me of this tall handsome brother busting that big French bank playing hide the Sovereign Sausage...
BNP hasn't even BEGUN to solve it's problems. How many analysts where you keep your brokerage account warned you of BNP/other French banks' before they started going pop.
Here I discuss the chances of Goldman Sachs succumbing to an MF Global/Lehman/Bear Stearns style bank run. Impossible, you say? Don't bet the farm on that one, son!
I said it in the past and was proven correct twice. It happened again, big time - and is now incontrovertible. Contrary to popular belief, Squids can't trade!
We just experienced a bank run in the US that I have been warning of for months on end. A bank run that resulted in this country's 8th largest bankruptcy,,, ever - and nobody even noticed.
Here is video outlining precisely how MF would collapse due to Fed policy, made at the beginning of the year! This wasn't hard to see coming. How many of you are willing to bet that MF Global will NOT be the Lehman of 2011? Let me rundown a few hard, painful and accurate observations that you guys who fell for that rough ass bear market rally might have overlooked.
Lauren Lyster, the enticing Russian TV/Capital Accounts host gave me the rare opportunity yesterday to sit down & run my mouth for 15 minutes straight. This format's most conducive to true conveyance of knowledge and information, at least in my not very humble opinion. I'm just not the 8 second soundbite type. Plus, I'm sure I pissed many long-only guys off...
So, the European joke has come full circle. Indebted nations borrow more money to bail out other indebted nations who ask insolvent banks to cut a 50% off deal on the loans that were given to them, but the insolvent banks will then have to raise capital which the will of course borrow from the over-indebted nations whom they just gave money to. Get it? Problem solved - BTMFD!!!
I can honestly say that this is probably the hardest hitting (literally) expose on Bank of America Lynch[ing this] CountryWide you will ever come across. Here we illustrate exactly what BofA snuck into America
s savings accounts. It ain't just CDS and it ain't pretty!
Warning!Highly controversial post. Long. Thick (with information) & HARD [hitting]! Thus if you are easily offended by pretty women, intellectually aggressive brothers in cognitive war garb, government regulators selling you out to the highest European bidder, or cold hard facts borne from world class research not seen in the sell side or the mainstream media, I strongly suggest you stop reading here and move on. There is nothing further for you to see.
I call you to attention. I have found a bank that literally has more derivatives risk than Citibank, Goldman, Morgan and JP Morgan - COMBINED! If BAC & JPM are stuffing derivative risks behind your bank accounts, are you naive enough to believe that foreign banks are doing the same?
So, what can I say? As the lone realist regarding Apple in the Blogosphere/Wall Street/MSM is vindicated, do I get 100s of emails saying I was right (to counter the 100s of hate mail) or do the fanboi investors & consumers continue to ignore facts & math. For those who are interested in actual fact, here's how I see things from this point forward.
Hey, that FDIC insured hedge fund took massive prop trading losses despite many billions of $ in tax payer aid. If only I were as skilled... For those who believe Goldman is out of the hot water cauldron, all I have to say is watch out for that brother with the spear!
Due to the rampant misinformation and disinformation (please recognize and appreciate the distinct difference) being bandied about, I've decided to run the #s 1 more time and put it right here in this post.
