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

So there are some members of congress who are spot on. Who grill the people. There are others who are either morons, corrupt or weak and do nothing. My puppy could grill them harder.

...and on it goes...

Citi, Wells Fargo suit moves to NY state court: report
www.marketwatch.com...

BOSTON (MarketWatch) -- A federal judge has sent Citigroup Inc.'s lawsuit against Wells Fargo & Co. over the acquisition of Wachovia Corp. back to New York state court, Reuters reported Tuesday. The judge sided with Citi's argument that the lawsuit does not raise a federal claim, according to the report. Citi had filed a complaint against Wachovia and Wells Fargo seeking more than $60 billion in damages. Last fall, Citi had reached a deal to buy Wachovia's banking business, but Wachovia was later sold to Wells Fargo after the bank came in with a higher bid.

What a mess...


[edit on 3/24/2009 by Hx3_1963]

reply to post by Hx3_1963


I was posting in another thread, but I feel it goes here as well.

I just watched Ron Paul on Bloomberg arguing with Benny and Timmy about their new plan. Some other guy got pissed off like no other and started yelling at the Timster, tearing him a new one... He basically told it like it was (can't remember his name, he spoke like 10 mins ago)

What the Treasury, Fed, and FDIC are trying to do with this new plan is selling private investors CDO's, financed by the Treasury.... Timmy said, well, I wouldn't call it a CDO.

But that's what it is.. a CDO.

Now, this new plan of the Gov to save us all from Armageddon has been relitively confusing to me.. simply because I knew their intention, new the rules behind it... but I did not know What it was they where selling exactly. I mean, are we simply buying subprime mortgages, or are we buying something less specific and more generalized? .. Well it turns out it's far more general.

The bank will place some of it's worst assets into a CDO, throw in some debt that is not at risk, throw in some moderate risk loans etc, and toss it all together. The investor puts the money down to buy it, a small percentage 3-5%, and the Fed finances the rest. If the CDO's loans default.. if people stop paying their credit card, their mortgage, their car payment.. some of the debt defaults, but some still pay. The Investor will loose almost nothing, because a small percentage of the CDO will always be generating some form of revenue. The Gov can get screwed royally.

CDO's are not exactly secure investments.. their very risky in that part of it can essentially die off.. leaving you with this bundle of junk that might only be paying a fraction of the debts inside.

To all those declaring the US and the World is in full recovery mode, that things are looking up... need to read between the lines. CDO's and the CDS insurance that covers them is what broke the back of the Global Markets.. and now we are removing the worst assets of the banks and basically putting all the risk of the CDO's on the Gov..

The only difference now between the Federal Government and the banks that went belly up over lousy investments, is that the Fed is larger, and thus can withstand the shock of massive debt defaults... at least, that's their hopeful theory.

Originally posted by Hastobemoretolife
****** Great!!!!!!!!!!!!

Both Timmy the Tax Cheat and Berneke support going to a Global Currency!

I support a Global Currency 100% --- so long as it's backed by Gold.

reply to post by Rockpuck


I don't.

Everybody's economic prosperity will be based upon some neutral group of people that are from several different countries. They can hold the entire world hostage and we will have to do what they want at their will.

Disagree with those people and they start pulling the currency out of your country.

Today's Treasury Auction results

3/24
4WK
0.050%
3.40 BTC
$41BB

Layman's translation:

On 3/24 the 4WK bill auctioned for a high yield of 0.050%, had a bid to cover ratio of 3.40 and $41 billion were auctioned.

[edit on 3/24/09 by redhatty]

A letter from Obama - to the rest of the world... Hmmm...

This was in another thread -

This is the present thread -
www.abovetopsecret.com...

And this is the letter
Obama's Global Op-Ed: "A Time For Global Action"
The Huffington Post | March 24, 2009 06:32 AM

www.huffingtonpost.com...

My apologies if this was already posted - I couldn't find it.

This is disturbing.

They don't have a contingency plan. They have no alternate plan as is but yet they say give them more power and everything can be fixed. I don't trust them.

reply to post by Hastobemoretolife


The Backup Plan

reply to post by Hastobemoretolife


Actually this situation is the perfect reverse of Enron. The US govt is acting as the parent company, taking in bad debt from the subsidiaries (banks) in order to keep them running.

reply to post by theWCH


Fair point, can't argue with you on that.

Wilbur Ross Defies Bruce Rose in Tranche Warfare Between Housing Villains
www.bloomberg.com...

March 24 (Bloomberg) -- Understanding President Barack Obama’s predicament in reversing the worst housing slump since the Great Depression may come down to a court fight between hedge fund manager Bruce Rose and billionaire Wilbur Ross over who’s responsible for driving down prices.

Ross’s American Home Mortgage Servicing Inc. and Rose’s Carrington Capital Management LLC are accusing each other of worsening the recession by devaluing homes and the mortgage bonds that sparked it. In a Stamford, Connecticut, lawsuit, Carrington says American Home hurt its hedge funds’ clients by dumping foreclosed homes tied to its subprime bonds at “fire sale” prices. American Home, which countersued on March 20, says Carrington wants to grab bondholders’ money by blighting communities with vacant homes.

More at link...
...And yet more infighting...

reply to post by 44soulslayer


That was the point I was getting at. The employees that got wiped out are now the taxpayers.

We are about to get saddled with 100's of billions of debt that we won't ever be able to pay back because the assets are worthless. Considering this plan even passes which I at this point I don't know why it won't.

Nothing has changed, privatize the profits and socialize the loses. As a result of the failure of this program, our taxes are going to go up and most of the people will be unable to afford to live here.

reply to post by redhatty


Great, draft and everybody work for government bonds. WooHoo!!

[edit on 24-3-2009 by Hastobemoretolife]

[edit on 24-3-2009 by Hastobemoretolife]

...and on a lighter note...

Vietnam Dong Falls Most Since December as Central Bank Widens Trading Band
www.bloomberg.com...

You just can't make this stuff up...

Is this a telling tale or what?

BlackRock's Global Macro Hedge Fund Bets on Further Stock-Market Declines
www.bloomberg.com...

March 24 (Bloomberg) -- BlackRock Inc.’s global macro fund, the world’s second-best performer over two years among hedge funds that invest based on economic trends, is betting against this month’s equities rally and buying bonds as a recovery from the worst credit crisis since the Great Depression falters.

BlackRock’s A$216 million ($152 million) Asset Allocation Alpha Fund returned 41 percent in 2008, when hedge funds around the world lost a record 19 percent on average. The fund is short U.S. and Australian equities, expecting them to decline, and long U.S., German, Australian, Canadian, and U.K. bonds, said its manager David Hudson.

“The risk is that the economic recovery disappoints in the second half and that equity markets need to revisit their lows in the next few months and maybe go through them,” Sydney-based Hudson said in an interview March 20.

More at link...

Now...aren't these the same guys getting into the new programs?

...and they're shorting???

...and concerning my earlier rant about "credit"...

Iron Ore to Decline for Two Years on `Whopping Oversupply,' Citigroup Says
www.bloomberg.com...

...and another telling tale...

U.K. Inflation Unexpectedly Rose to 3.2% in February on Food Costs, Pound
www.bloomberg.com...

Sell Chinese 5-Year Corporate Debt as Inflation Likely to Revive, GF Says
www.bloomberg.com...

Mexico's Consumer Prices Rose More Than Forecast in First Half of March
www.bloomberg.com...


This is getting crazy...even me, a Borg...can't keep up with bad news!!!

Kudrin Says Russian Banks Face Second Wave of Bad Loans as Companies Reel
www.bloomberg.com...

Baltic Currency Pegs Are `Burning Fuse' as 50% Devaluation Looms, RBS Says
www.bloomberg.com...

Oh the hell with it...try this...just listed in the last day...
www.abovetopsecret.com...


[edit on 3/24/2009 by Hx3_1963]

Originally posted by Hastobemoretolife
reply to post by Rockpuck

 

I don't.

Everybody's economic prosperity will be based upon some neutral group of people that are from several different countries. They can hold the entire world hostage and we will have to do what they want at their will.

Disagree with those people and they start pulling the currency out of your country.

EVERYONE'S economic prosperity ALREADY is based on a NON neutral group of mega rich in several different countries. WHO do you think has this whole farse going in the first place? lil timmy and his band of merry men don't have the brains or the testicular fortitude to carry it out on their own. They are being told what to do. Today's so called hearing proves it! The whole of the public knew what was going on; but the "MAN in charge" didn't know what was going on? Give me a break they just gave themselves away and everyone knows it now.
If they don't they either weren't paying attention to what they where saying or are to dense to get it.
There is no way they can claim stupidity on any of this as they where the ones in the den the whole time. They stayed there pushing and threatening until everyone caved in and gave them what they where told to demand. Plain and simple.

Dow Jones Industrial Average 7,762.40 2:26pm ET -13.46 (-0.17%)
S&P 500 INDEX,RTH 819.38 2:26pm ET -3.54 (-0.43%)
NASDAQ Composite 1,538.91 2:27pm ET -16.86 (-1.08%)
===
Gold $922.85
Oil $53.64
===
GBP/UDS $ 1.4711
===
DXY 83.99
TNX 27.44
===
Russia 721.64 -15.55 -2.11% 03/24
London 3911.46 -41.35 -1.05% 16:35
Paris 2874.39 4.82 0.17% 18:13
Frankfurt 4187.36 10.99 0.26% 18:42
Turkey 25001.59 82.33 0.33% 17:09
Hungary 10679.98 -122.83 -1.14% 16:36
Austria 1634.98 -53.56 -3.17% 17:35
Poland 24443.51 110.63 0.46% 16:40
Czech 778.80 13.90 1.82% 17:40
Sweden 654.12 -13.87 -2.08% 17:44
Finland 4716.75 -7.68 -0.16% 18:31
Norway 205.54 -4.08 -1.95% 17:25
Greece 1694.28 4.73 0.28% 17:19
Italy 12709.00 31.00 0.24% 17:51
Luxembourg 883.88 14.78 1.70% 17:40
Netherlands 221.47 0.57 0.26% 18:08
Iceland 215.07 -27.35 -11.28% 16:40
Denmark 229.34 -0.20 -0.09% 17:21
Switzerland 4923.66 -7.41 -0.15% 17:30
Spain 840.12 4.40 0.53% 17:39
Portugal 2101.43 -31.75 -1.49% 17:08
Ireland 2138.83 -24.58 -1.14% 17:10
Israel 696.41 1.93 0.28% 16:29
Egypt 394.90 10.70 2.79% 14:42
S. Africa 19169.16 -334.54 -1.72% 17:00
Morocco 22636.52 -228.95 -1.00% 03/20
Jordan 2686.00 55.27 2.10% 14:59
UAE Dubai 1622.28 64.28 4.13% 13:58

[edit on 3/24/2009 by Hx3_1963]

reply to post by xoxo stacie


I do realize that, but everything is so interconnected that the only thing they can do is make sure the manipulation is coordinated across the board. As it stands now if any major country fails the whole world economy fails.

With a global currency they can decide who lives and who dies. As it stand right now they have billions of people and governments to deal with. A Global Currency will cut all that red tape out for them.

I hope people wake up soon, we can still stop them in there tracks. It is going to be painful but at least we know we will emerge free. In fact if we stop them I think we could emerge within a year 2 years top.

www.indexq.org...

United States 7762.95 -12.91 -0.17% 14:29
Dow Jones Industrial Average 7,745.43 2:35pm ET -30.43 (-0.39%)

NASDAQ 1538.42 -17.35 -1.11% 14:28
Rus 2000 426.16 -7.56 -1.74% 14:28
S&P 500 819.66 -3.26 -0.40% 14:28
Gold & Silver 134.46 -3.33 -2.42% 14:14
PreMetals 270.23 -6.82 -2.46% 14:26
Gold GOX 160.65 -3.56 -2.17% 14:29
Gold Bugs 320.46 -8.37 -2.54% 14:28
AMEX Energy 461.70 -4.71 -1.01% 14:28
NYSE Energy 8967.30 -112.79 -1.24% 14:29
Oil Services 139.05 -1.62 -1.15% 14:14
AMEX Oil 905.07 -9.98 -1.09% 14:28
PHLX Semi. 230.95 -3.50 -1.49% 14:14
NASDAQ Fin. 1659.06 -38.61 -2.27% 14:28
NYSE Finance 3069.16 -36.52 -1.18% 14:29
NBI 680.77 -10.89 -1.57% 14:28
AMEX BioTec 644.81 -10.09 -1.54% 14:28
PHLX Drug 144.32 -1.22 -0.84% 14:14
Canada 8881.45 -77.06 -0.86% 14:29
Brazil 41860.75 -577.80 -1.36% 15:14
Mexico 20348.28 1.85 0.01% 13:09
Argentina 1124.56 55.03 5.14% 03/23
Chile 2555.51 11.00 0.43% 15:28
Peru 8321.72 163.96 2.01% 13:14
Colombia 8018.25 48.36 0.61% 12:54
Venezuela 41600.10 27.73 0.07% 13:37
Bermuda 2404.00 -36.93 -1.51% 03/20
Jamaica 79423.00 -251.47 -0.32% 13:59

[edit on 3/24/2009 by Hx3_1963]

reply to post by Hx3_1963


It's very nice of you to provide updated market data. *watching*

Thank you.

reply to post by Hastobemoretolife


Ahh yes but you see if they are telling you about it they have already done it!

They are gauging the response they are going to need to implement when they tell you it is final. They want to see just how upset people are going to get and what is going to be needed to get rid of the ones that are in the way.
It has been this way since forever and they obviously haven't changed a bit in the last oh lets say 1000 years. Tell the people what they want to hear.. then tell them what they are really going to get. Find out who the trouble makers are get rid of them and do what you want anyway. Because those who are left will just go along and do what they are told.
Yet amazingly after all these many many decades people still don't get it and surely don't pay attention to history. If they did they would be scared out of their skins. This has happened before to be frank, the Queen does control 51 countries you know. (that number is about to increase also)

Paper 32.37 2.87 9.73% 14:58 Yep still printing $ LoL

@ irishchic:
Live Cattle Fut 83.500 0.100 0.12% 14:51
lean Hogs Fut 73.000 0.375 0.52% 14:53


United States 7708.00 -67.86 -0.87% 15:09
Dow Jones Industrial Average 7,710.39 3:25pm ET -65.47 (-0.84%)

NASDAQ 1527.44 -28.33 -1.82% 15:09
Rus 2000 423.04 -10.68 -2.46% 15:09
S&P 500 813.43 -9.49 -1.15% 15:08
S&P 500 INDEX,RTH 813.26 3:25pm ET -9.66 (-1.17%)

Gold & Silver 137.09 -0.70 -0.51% 14:54
PreMetals 274.30 -2.75 -0.99% 15:01
Gold GOX 164.12 -0.09 -0.06% 15:09
Gold Bugs 327.31 -1.52 -0.46% 15:08
AMEX Energy 458.77 -7.64 -1.64% 15:08
NYSE Energy 8916.38 -163.71 -1.80% 15:09
Oil Services 138.55 -2.12 -1.51% 14:54
AMEX Oil 899.27 -15.78 -1.72% 15:08
PHLX Semi. 229.57 -4.88 -2.08% 14:54
NASDAQ Fin. 1622.01 -75.66 -4.46% 15:09
NYSE Finance 2999.66 -106.02 -3.41% 15:09
NBI 679.51 -12.15 -1.76% 15:09
AMEX BioTec 643.21 -11.69 -1.78% 15:08
PHLX Drug 144.08 -1.46 -1.00% 14:54
Canada 8857.60 -100.91 -1.13% 15:09
Brazil 41741.94 -696.61 -1.64% 15:54
Mexico 20429.55 83.12 0.41% 13:49
Argentina 1124.56 55.03 5.14% 03/23
Chile 2553.03 8.52 0.34% 16:08
Peru 8376.64 218.88 2.68% 13:51
Colombia 8039.13 69.24 0.87% 12:59
Venezuela 42186.75 614.38 1.48% 14:30
Bermuda 2404.00 -36.93 -1.51% 03/20
Jamaica 79423.03 -251.44 -0.32% 13:59
===
US Dollar 83.85
Euro Index 135.10 -1.24 -0.91% 15:04
GB Pound 147.18 1.43 0.98% 15:04
Japanese Yen 102.13 -0.99 -0.96% 15:04
Aus. Dollar 69.96 -0.61 -0.86% 15:04
30Y T-Bond 128.61 -2.36 -1.80% 03/23
30Y T-Bond Yld 36.06 -0.87 -2.36% 14:59
10Y T-Bond Yld 26.54 -0.06 -0.23% 14:59
5Y T-Bond Yld 16.93 0.12 0.71% 14:59
3M T-Bill Dscnt 2.05 0.15 7.89% 14:59
CBOE Optn P/C 0.74 0.04 5.71% 15:04
===
Baltic Dry 1773.00 -9.00 -0.51% 03/23
Baltic Capesize 2215.00 18.00 0.82% 03/23
Baltic Panamax 1489.00 14.00 0.95% 03/23
VIX 42.14 -1.09 -2.52% 15:04
VXD 38.31 0.22 0.58% 15:04
VXN 41.90 -0.11 -0.26% 15:04

[edit on 3/24/2009 by Hx3_1963]