The "up-to-the-minute Market Data" thread

reply to post by redhatty


And then we most trust our so call government way to fix the economy, sorry to say this and sound like a doom and gloom pusher but this sounds like nothing but a big scam and still our nation will keep sliding down the hill.

Getting into more debt is not the way to fix the nation.

reply to post by marg6043


Ya know - I would NEVER accuse that numbers coming from the .gov re manipulated to sound better than they really are.......

Here's a different view from the Census.gov (.pdf)

NEW RESIDENTIAL CONSTRUCTION IN FEBRUARY 2009
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential
construction statistics for February 2009:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 547,000.
This is 3.0 percent (±3.5%)* above the revised January rate of 531,000, but is 44.2 percent (±1.2%) below the revised February 2008
estimate of 981,000.
Single-family authorizations in February were at a rate of 373,000; this is 11.0 percent (±2.1%) above the January figure of 336,000.
Authorizations of units in buildings with five units or more were at a rate of 156,000 in February.
HOUSING STARTS
Privately-owned housing starts in February were at a seasonally adjusted annual rate of 583,000. This is 22.2 percent (±13.8%) above
the revised January estimate of 477,000, but is 47.3 percent (±5.3%) below the revised February 2008 rate of 1,107,000.
Single-family housing starts in February were at a rate of 357,000; this is 1.1 percent (±11.0%)* above the January figure of 353,000.
The February rate for units in buildings with five units or more was 212,000.
HOUSING COMPLETIONS
Privately-owned housing completions in February were at a seasonally adjusted annual rate of 785,000. This is 2.3 percent (±14.8%)*
above the revised January estimate of 767,000, but is 37.3 percent (±7.7%) below the revised February 2008 rate of 1,251,000.
Single-family housing completions in February were at a rate of 505,000; this is 8.2 percent (±11.8%)* below the January figure of
550,000. The February rate for units in buildings with five units or more was 268,000.
New Residential Construction data for March 2009 will be released on Thursday April 16, 2009, at 8:30 A.M. EDT

reply to post by redhatty


Excuse me (from the article)

"This isn't just a matter of dollars and cents," he said. "It's about our fundamental values."

What fundamental values? didn't they screw themselves with bad deals and scams? and they now have to get their contracts honor? what honor? honor for failure, corruption and mismanagement?

By the tax payer what in the heck this people think they are?

This is showing that in our nation of the Great falling from grace America we reward all kind of bad behavior unless is not coming from the tax payer in the nation.

The hell with them

Who in the hell is governing this nation? darn corrupted private interest not the people.

What a joke.

[edit on 17-3-2009 by marg6043]

[edit on 17-3-2009 by marg6043]

Originally posted by marg6043
reply to post by redhatty

 

And then we most trust our so call government way to fix the economy, sorry to say this and sound like a doom and gloom pusher but this sounds like nothing but a big scam and still our nation will keep sliding down the hill.

Getting into more debt is not the way to fix the nation.

No, it's not, you are correct. But, unfortunately at this point, we are already there.

SO if we can figure out ways to make all that new debt work to restore the country, that's taking a lemon and making lemonade.

Do I think that our current political staff will do that - NO

But it could be done, and we can pray that somehow, some way, someone actually has firing dendrites and axons in their gray matter and figure out how to do things right.

Oh my another BUY BUY BUY idjit on CNBC. I guess the reaming from the Daily Show didn't inspire any of the big-wigs there to change the programming for the better

reply to post by redhatty



"...the sanctity of contracts."

You have got to be kidding me? They want to appeal to our sense of morality and are questioning the public's sense of right and wrong?

I can't tell you how many "contracts" I have either gotten out of or experienced the effects of when another party changed the rules.

There is no "sanctity" involved in ANY contract,there are only lawyers...they're going to be calling us all "Un-Patriotic" next.

I'm laughing in my Jamison's...


[edit on 17-3-2009 by irishchic]

reply to post by irishchic


I agree patriotic is the duty of every tax payer in this nation to protest, complain and inundate our congress with our outrage of what is going on with the scam at the expenses of tax payer.

Originally posted by irishchic
I'm laughing in my Jamison's...

Send some this way!!!

I SAID IT WAS TOO INFURIATING

I wasn't kidding! How many times have you ever seen me say that???

AIG can rot in hell after the public hangings IMHO

reply to post by redhatty

But it could be done, and we can pray that somehow, some way, someone actually has firing dendrites and axons in their gray matter and figure out how to do things right.

Nice vocabulary!!!


...but in a seriousness...

dendrites and axons are not in the GAOs budget this fiscal year sooo...

Whitney: Banking Woes Likely to Get Worse in 2009
www.cnbc.com...

A surge in borrower defaults and unemployment pressures will make 2009 an even uglier year for banks than last year, analyst Meredith Whitney said.

She predicted "breakups and M&As on a grand scale" as the industry seeks to remake itself in the face of all its capital pressures.

"I don't think this year is going to look any better than last year," Whitney said in an interview Tuesday on CNBC. "In fact it will look worse because there's so much credit coming out of the system."

Whitney, a former analyst at Oppenheimer who recently opened her own firm, is renowned for calling out the problems with banks' toxic assets before the issue became widespread.

As some have been predicting the worst may be over for the banking sector, Whitney countered that many of the statements about some of the big banks showing profits ignore the burden that additional writedowns will pose through the year.

Consumers also will face pressure as unemployment grows and banks and credit card companies start calling in credit lines to avoid getting stuck with even more bad debt.

"The probability of more people going into default is higher, so the banks are going to have a tough time," she said.

Ouch...as usual she's pretty blunt...Star 4 Her!


[edit on 3/17/2009 by Hx3_1963]

reply to post by Hx3_1963


She was great on CNBC this am - with the small exception of her doing a little cheerleading for more credit formation, but she did just start a company and is probably looking for banking clients

Hey!! I found a breath of fresh air!!!

Five Ways that Insanity Has Become the New Normal in America

It's long, so I won't post here, but take the time to go read it and remember - we are NOT the Crazy ones!

and back to the insanity...

off the wires...

Tuesday, March 17, 2009 9:30:32 AM
Fed Announces 2-year delay of new bank capital requirements until Mar 31st, 2011
- Two-year delay of new capital requirements for bank holding companies that otherwise would have gone into effect later this month.
- The amendments to the Federal Reserve Board''s capital adequacy guidelines would have limited bank holding companies from including trust preferred securities and other capital elements in Tier 1 capital
- The Fed said the delay should give financial firms - which need to boost overall capital levels during this challenging period in financial markets - more flexibility to meet federal capital requirements.
- In more technical terms, the delay means all bank holding companies can include cumulative perpetual preferred stock and trust preferred securities in Tier 1 capital up to 25% of total core capital elements
- The Fed added that economic conditions over the past 18 months "have created a situation in which requiring adherence to the new limits by the March 31, 2009, effective date creates a substantial burden for many BHCs (bank holding companies) in a way that was not anticipated when the final rule was adopted in 2005
- The Fed said the new limits would apply only to regulatory capital calculations and don''t affect the liability of restricted core capital instruments to absorb losses.

reply to post by marg6043


Not with March Madness distracting the nation. Protests will have to wait until mid-April, at the earliest.

reply to post by redhatty
OK......................................................................................

WTH???

So now everthings gonna be okay...we'll just ignore this for a little longer???

Is that what I should be getting from that announcement?

reply to post by theWCH


I see,

BTW Obama is on TV right now, talking about how the massive debt was inherited, but he forgets to add that he is adding more to it, every day.

reply to post by Hx3_1963


Oh no, far from OKAY - this is just keeping the over leverage game rolling - and rolling hard and fast

Not good for us, not good at all

reply to post by redhatty
That's what I originally read from it, but, was just checking...

So the Loosey Goosey capitol requirements carry on my wayward son...

Nice...Wall St bankers...go about yer business...

AIG: More Samurai Swords Please

This is what Ben Bernanke said as recently as March 3rd:

The insurer’s first bailout package grew to $150 billion last year. After failing to sell enough subsidiaries to repay the government, the company had to turn to the government again. The company may need more support if financial markets don’t improve, the Treasury and Federal Reserve said in a joint statement yesterday.

Bernanke said the revised bailout gives taxpayers “the best chance” of eventually recovering “most or all of the investments” the public has.

Uh huh.

Here's the truth:

Pressure is mounting on the government to revise its bailout of AIG to ensure that taxpayers are repaid as much as possible of the $170 billion lent to the troubled insurer.

Experts warn we shouldn't expect to get much back.

No, really?

Here's the stupid on this - more than half of this money has gone directly to banks without any obligation that they pay back the funds. If AIG is unable to repay the "loans" then the taxpayer will simply eat the pass-through payments that went to these institutions- including foreign institutions.

This is a problem; under the TARP the taxpayers at least got something of alleged value, even if the CBO says we overpaid and thus got ripped off.

In this case nearly $100 billion dollars of taxpayer funds went directly to these banks with absolutely no obligation that they ever pay one nickel of it back to the taxpayer, as our recourse lies with AIG - a company that is almost certain to be unable to repay.

This sort of raw theft by deception must STOP and Bernanke and his merry band over at Treasury need to be strung up by their gonads. The American Taxpayer may need to help the banking system survive, but this sort of "back door bailout", structured in this manner for the explicit purpose of hiding what was going on and done under cover of darkness until the money had all flown out the door is outrageous.

Bernnake needs to add himself to Grassley's Seppuku list.

I'll pay for the sword.

fixed that tag

[edit on 3/17/09 by redhatty]

Coca-Cola Flees Commercial Paper for Safety in Bonds (Update1)
www.bloomberg.com...

March 17 (Bloomberg) -- Coca-Cola Co. is fleeing commercial paper for the safety of long-term bonds.

The world’s largest soft-drink maker joins a growing number of borrowers reducing their dependence on the debt this year as the market sinks to its lowest since seizing up after Lehman Brothers Holdings Inc. collapsed in September.

Coca-Cola, health-insurer WellPoint Inc. and more than 30 other companies are issuing bonds and using the proceeds to repay their short-term IOUs, according to data compiled by Bloomberg. The amount of commercial paper outstanding shrank 16 percent since Jan. 7 to $1.48 trillion last week and daily issuance dropped to a four-year low, according to the Federal Reserve.

“People want to push down their debt levels, build up their cash war chests and have lots of sources of funding, just in case one of the legs of their stools gets kicked out,” said Peter Crane, president of Crane Data LLC, a money-fund tracking firm in Westborough, Massachusetts.

A telling tale when Coke is running for the hills!!

Thornburg Considers Bankruptcy, MatlinPatterson Says (Update1)
www.bloomberg.com...

March 17 (Bloomberg) -- Thornburg Mortgage Inc., the jumbo mortgage lender trying to restructure its debt, is considering options that include bankruptcy, according to MatlinPatterson Global Advisers LLC, formerly the company’s biggest shareholder.

Discussions with Santa Fe, New Mexico-based Thornburg include “possible restructuring, recapitalization or reorganization transactions (under Chapter 11 of the U.S. Bankruptcy Code or otherwise),” MatlinPatterson said in a federal filing today. MatlinPatterson, an investment fund specializing in distressed debt, surrendered 120.7 million shares of common stock yesterday and March 12 without any compensation, according to the filing.

Thornburg specialized in mortgages of $417,000 or more and was forced to seek a rescue last year after the mortgage-backed securities market collapsed. MatlinPatterson led an investor group that provided $1.35 billion to Thornburg in March 2008 to take majority control of the company, which faced margin calls.

This is at least the 2nd major mortgage firm to list stuff like this in the past few days...

[edit on 3/17/2009 by Hx3_1963]

reply to post by redhatty


You are going to give me a stroke with all this great news of how sinister, dirty and corrupted the Federal bank is, "literally speaking"

And to think that Obama is going to push what Bush could not during the first bail out bill, sweeping powers for the fed.

God to love this politicians.

FDIC Boosting Fees for U.S. Lenders Tapping Debt Guarantee Plan
www.bloomberg.com...

March 17 (Bloomberg) -- The Federal Deposit Insurance Corp. is charging banks extra fees to issue debt guaranteed by the agency to bolster reserves depleted as the pace of bank failures accelerates.

Bank or bank-holding companies selling debt after April 1 under the Temporary Liquidity Guarantee Program will be charged 10 cents or 20 cents per $100 in insured deposits, with fees rising later this year. The FDIC charges 1 percentage point of the amount sold on guaranteed debt maturing in one year or longer. The agency also extended the guarantee program until Dec. 31, 2012, and debt sales would be permitted until Oct. 31.

“The TLGP debt guarantee has been effective in improving short term and interim term funding for bank organizations,” FDIC Chairman Sheila Bair said during the board meeting.

The agency created the debt guarantee last year, opening a new channel for bank funding amid a seizure in credit markets that raised yields on investment-grade financial debt. By paying the FDIC a fee to back their bonds, banks were able to issue debt with a top AAA credit rating.

The fees would be applied until June 30 and are targeted at replenishing the FDIC’s deposit insurance fund, drained by 42 bank failures in the past 15 months. From June 30 on debt maturing by June 30, 2012, the fee would be 10 basis points on an annualized basis. Bank-holding companies would pay 20 cents per $100 of insured deposits, the agency said.

I'm guessing this is a update, as this headline was posted back pages ago...

Chrysler Seeks More Aid for Finance Arm, Chief Says (Update1)
www.bloomberg.com...

March 17 (Bloomberg) -- Chrysler LLC, surviving on federal loans, asked the U.S. Treasury for more aid for its finance arm to stimulate auto lending, the carmaker’s chief executive officer told CNBC.

The company began seeing benefits in sales to individuals last month from a $1.5 billion Treasury loan to Chrysler Financial, CEO Robert Nardelli said in a CNBC interview today. He didn’t give a figure for how much more Chrysler requested.

“We have gone back to Treasury and said ‘we need to re-up that amount,’” he said. “We saw the evidence of how that works.” Providing more funds to Chrysler Financial may increase sales as much as 20 percent by expanding the range of customers who could qualify for loans, he said.

...What's new...Mo money...Mo money...giant black holes in all I survey...

[edit on 3/17/2009 by Hx3_1963]

reply to post by redhatty


I forgot to read more into the article you posted by Dr. Doom, well it looks that with all the mess trying to fix the nations economy, Inflation will be the end result after all.

If the fed does what they are planning to do, is nothing more than printing paper to create the atmosphere of liquidity.

Well get ready people and make sure you stock your kitchen with goods for the bad days ahead when groceries will become a luxury.