It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
LONDON (CNNMoney.com) -- Job cuts have begun at Bear Stearns and that could mark the start of a broader wave of layoffs across Wall Street as firms survey the damage caused by the recent downturn in financial markets.
One joke likened the crisis in subprime assets - responsible for triggering the implosion of some hedge funds as they totted up billions of dollars in losses - to the Titanic disaster: as with the Titanic, the downside was not immediately apparent and only a few wealthy people got out in time
Another dealer announced in a cheeky e-mail the creation of a new structured product: a Constant Obligation Leveraged Originated Structured Oscillating Money Bridged Asset Guarantee, or COLOStOMyBAG. One trader noted on the product - a parody of the increasingly bizarre acronyms that have become commonplace in the world of structured finance - "It's basically full of #
Originally posted by jefwane
Constant Obligation Leveraged Originated Structured Oscillating Money Bridged Asset Guarantee, or COLOStOMyBAG
Originally posted by OBE1
Originally posted by netscape
If economy is doing good then why dollar is getting weak? Can someone please explain me how value of US $ and stock market are related if they in anyway.
Hi netscape. I think I can give you a simplistic answer. Basically, the dollar is weak because there are so many of them in circulation. The stock markets prosper most when an economy prospers. Interest rates can be lowered when economies slow in order to spur business, create jobs, increase consumer spending, and insure the all important flow of corporate & personal tax revenues. Lower interest rates increase the demand for loans (cheap money). This new money enters the system and further increases the amount of dollars in circulation. Supply demand dynamics take over...more dollars chasing the same amount of goods & services. Inflation rears it's head as prices escalate.
There are other complexities that influence this balance (increased productivity, Fed bond purchases, global interest rates and so on) but I better quit while I'm ahead...my less than perfect & somewhat feeble attempt...hope it helps
St. Udio...excellent points...you give good mumbo jumbo...Thanks
Justin...politicians, well...being politicians. Humanity's most prolific and shameless opportunists. I'm just glad that at least they're paying attention. Finger pointing aside, if they can help move the issues we discuss in this thread to the forefront of mainstream awareness where they belong...I'm up for it
I see the market just turned positive...this is the wild volitility that may be with us for awhile.
America prosperity is base on borrowed money, outsourced manufacturing, subsidized foreign insourced manufacturing, and a declining manufacturing base.
* Home mortgages from $1.8 trillion to $8.2 trillion
* Consumer debt from $2.7 trillion to $11.0 trillion
* Government budget debt limit recently raised and is now approaching $9.0 trillion
* Household debt has quadrupled