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

reply to post by Hastobemoretolife

Likely, they already have another gov't whoor lined up for this position.
Same story, 2nd line dance..

reply to post by Hx3_1963



Your "Depression Validated" thread is nothing short of amazing.

I wish I could take a day and lots of snacks and just sit and read through the entire thing,clicking on every freakin' link!

Amazing and still growing!

Like we didn't already suspect this but here's some "proof"

AIG Was Responsible For The Banks' January & February Profit

Zero Hedge is rarely speechless, but after receiving this email from a correlation desk trader, we simply had to hold a moment of silence for the phenomenal scam that continues unabated in the financial markets, and now has the full oversight and blessing of the U.S. government, which in turns keeps on duping U.S. taxpayers into believing everything is good.

I present trader Gary's insider perspective in its entirety:

"AIG-FP accumulated thousands of trades over the years, all essentially consisted of selling default protection. This was done via a number of structures with really only one criteria - rated at least AA- (if it fit these criteria all OK - as far as I could tell credit assessment was completely outsourced to the rating agencies).

Main products they took on were always levered credit risk, credit-linked notes (collateral and CDS both had to be at least AA-, no joint probability stuff) and AAA or super senior portfolio swaps. Portfolio swaps were either corporate synthetic CDO or asset backed, effectively sub-prime wraps (as per news stories regarding GS and DB).

Credit linked notes are done through single-name CDS desks and a cash desk (for the note collateral) and the portfolio swaps are done through the correlation desk. These trades were done is almost every jurisdiction - wherever AIG had an office they had IB salespeople covering them.

Correlation desks just back their risk out via the single names desks - the correlation desk manages the delta/gamma according to their correlation model. So correlation desks carry model risk but very little market risk.

I was mostly involved in the corporate synthetic CDO side.

During Jan/Feb AIG would call up and just ask for complete unwind prices from the credit desk in the relevant jurisdiction. These were not single deal unwinds as are typically more price transparent - these were whole portfolio unwinds. The size of these unwinds were enormous, the quotes I have heard were "we have never done as big or as profitable trades - ever".

As these trades are unwound, the correlation desk needs to unwind the single name risk through the single name desks - effectively the AIG-FP unwinds caused massive single name protection buying. This caused single name credit to massively underperform equities - run a chart from say last September to current of say S&P 500 and Itraxx - credit has underperformed massively. This is largely due to AIG-FP unwinds.

See link for full article

[edit on 3/29/09 by redhatty]

reply to post by redhatty
OK...that's it...

IMPEACHMENT is in order...

Treason...Deriliction of Duty...Gross Negilgence...failure to perform...

I've had enough...

Hi, everybody, I see the thread has gotten bigger since my last time here so I will only going to read the last three pages and sorry if I post information that is already been posted.

I needed a vacation to calm down and get my blood pressure stable again.

I see a lot happen during this week and I am so burn out about the economy and the markets that I don't want to think anymore what is going to happen next.

As we have seen our nation politicians are doing a great job at gambling the future of generations to come.

[edit on 29-3-2009 by marg6043]

reply to post by redhatty
didn't *WE* already say this???

How could Citi have a positive outlook???? or others???

All the "funneling" from AIG is the answer!!!!

Biggest "SCAM" ever perpitrated on the US Masses...

April 15th better be big or...arms will come to bear...

===
NZSE 50 2,629.05 7:15PM ET -24.43 (-0.92%)
All Ordinaries 3,590.60 7:17PM ET -25.00 (-0.69%)

[edit on 3/29/2009 by Hx3_1963]

Was This An Outright Scam? (AIG - Again)

Hattip all over, including the forum and Zerohedge:

During Jan/Feb AIG would call up and just ask for complete unwind prices from the credit desk in the relevant jurisdiction. These were not single deal unwinds as are typically more price transparent - these were whole portfolio unwinds. The size of these unwinds were enormous, the quotes I have heard were "we have never done as big or as profitable trades - ever".

.....

AIG, knowing it would need to ask for much more capital from the Treasury imminently, decided to throw in the towel, and gifted major bank counter-parties with trades which were egregiously profitable to the banks, and even more egregiously money losing to the U.S. taxpayers, who had to dump more and more cash into AIG, without having the U.S. Treasury Secretary Tim Geithner disclose the real extent of this, for lack of a better word, fraudulent scam.

Was it deemed "critically important" by Treasury that these employees remain under employment agreements - including perhaps confidentiality, one wonders, therefore necessitating huge "retention bonuses", lest they leave and sing?

Now the alleged mechanism for the conduit to shuffle AIG bailout money through to the banks, including banks not in the United States, comes out.

All to "save the financial system" eh?

There was no need for "new authority" was there Tim? All you had to do, if this account is correct, is tell AIG to stick it where the sun doesn't shine (and send in a few cops) for making trades that were intentional money-losers and designed to stick the taxpayer with a monstrous (to the tune of $170 billion thus far) bill.

Where are the cops?

Oh wait - I know - they're in New York!

Paging Mr. Cuomo. Mr. Cuomo you have a call on Line 1!

How the returning markets confidence in the last few weeks of March is nothing but a ponzi scheme.
CNNMoney.com a poll done to its readers said that 60% percent believe that the Markets are rising and that will
continue to raise until next year.

money.cnn.com...

This good fortune in the markets is due to the 1 Trillion dollars that Secretary Geithner used to get bad assets.

While people in the Markets at least the hopefuls are celebrating to the tune of the markets hitting bottom the truth is that when
it comes to the markets is not bottom at all.

The markets has been run like a big ponzi scheme, and "new investors driven by what they see the bottom and cheap buy out are been lured
into putting money into it.

This new investors are putting money in and taking money out making the value of the markets shift like the waves in an ocean.

That is how unstable the Markets has become.

This new way of Gambling is been applauded by our own governmentso they can keep justifying the incredible shift of wealth in this nation.

Our government rather than doing what our president was set up to do, fixing the nation to create jobs, is creating nothing but debt.

Taking money from the tax payer to gamble their future in the markets ponzi scheme.

What this is doing to the Markets, is creating a false sense of security while scheme investors to put their money on companies that have no assets,
like financial institutions now, hedge funds, investment services and mortgage packages.

The total right now of the tax payer burden is up to 10 trillion dollars and already 2.6 has been spent.

Economy rescue: Adding up the dollars
The government is engaged in an unprecedented - and expensive - effort to rescue the economy. Here are all the elements of the bailouts.

money.cnn.com...

reply to post by marg6043


Hey marg welcome back. I hope you went somewhere exotic and tranquil.
I think just about every body here is headed for that place too.
The atmosphere is so negitivly charged that our heads are about explode.
Just ask any body.They will tell you over and over again just how scared they are and they just don't have a clue of how it fix it. BTW where have you been?
PS no worries about the last four pages either, there is not one scrap of Data I could find!

[edit on 29-3-2009 by Donny 4 million]

GM CEO Wagoner to step down at White House request

Here we have King Obama dictating to private business.
I'm glad our experiment with National Socialism(The Nazi Party)
is working out well. This has really turned out to be the way
I dreamed America to be by the time I'm 25. Oppressive, dishonest
and extremely fascist.

I'm feeling rather ill after todays read about.
I don't want to participate on any level with the boys and girls in charge.
The criminality of what is happening
is beyond imagination.

I want to take any money that I have left - out of all financial
institutions and use it to sure up the best survival situation that I can -
and hide the rest.

It's like watching a scary film -
except that it isn't.

reply to post by Donny 4 million


Well I was just home taking care of my allergies that were quite bad for the last month.

I did a lot of exercises and mediation and actually feel very good right now.

No exotic get away but just home.

Originally posted by Donny 4 million
reply to post by marg6043

 

PS no worries about the last four pages either, there is not one scrap of Data I could find!

[edit on 29-3-2009 by Donny 4 million]

Just curious -
What does this mean - not one scrap of data?

reply to post by spinkyboo
I'm assuming "Donny" want some nice inside stuff to "fluff" his wallet...

Not going to happen here...besides the "normal" MSM outlets...which suck and mis-lead us sooo..

GET A LIFE!!!
(Sorry about last posts damming you , but, once again stupidy abounds)

WTF??? Communist is the new capitalist, capitalist is the new socialist/fascist and now...

Russia backs return to Gold Standard to solve financial crisis

Russia has become the first major country to call for a partial restoration of the Gold Standard to uphold discipline in the world financial system.

By Ambrose Evans-Pritchard
Last Updated: 10:05PM BST 29 Mar 2009

Arkady Dvorkevich, the Kremlin's chief economic adviser, said Russia would favour the inclusion of gold bullion in the basket-weighting of a new world currency based on Special Drawing Rights issued by the International Monetary Fund.

Chinese and Russian leaders both plan to open debate on an SDR-based reserve currency as an alternative to the US dollar at the G20 summit in London this week, although the world may not yet be ready for such a radical proposal.

Mr Dvorkevich said it was "logical" that the new currency should include the rouble and the yuan, adding that "we could also think about more effective use of gold in this system".

The Gold Standard was the anchor of world finance in the 19th Century but began breaking down during the First World War as governments engaged in unprecedented spending. It collapsed in the 1930s when the British Empire, the US, and France all abandoned their parities.

It was revived as part of fixed dollar system until US inflation caused by the Vietnam War and "Great Society" social spending forced President Richard Nixon to close the gold window in 1971.

The world's fiat paper currencies have lacked any external anchor ever since. It is widely argued that the financial excesses and extreme debt leverage of the last quarter century would have been impossible - or less likely - under the discipline of gold.

Russia is a major gold producer with large untapped reserves of ore so it has a clear interest in promoting the idea. The Kremlin has already instructed the central bank of gradually raise the gold share of foreign reserves to 10pc.

China's government has floated a variant of this idea, suggesting a currency based on 30 commodities along the lines of the "Bancor" proposed by John Maynard Keynes in 1944.

you can't make this stuff up!

reply to post by Hx3_1963


Well since the markets are closed on Sat & most of Sun, there is only news to post - not data

But I guess the folks who don't know that will still ask for the data

[edit on 3/29/09 by redhatty]

Originally posted by Hx3_1963
reply to post by spinkyboo

 

I'm assuming "Donny" want some nice inside stuff to "fluff" his wallet...

Not going to happen here...besides the "normal" MSM outlets...which suck and mis-lead us sooo..

GET A LIFE!!!
(Sorry about last posts damming you , but, once again stupidy abounds)

Of course.
The communication is terribly pointed and unnecessary though.
And - everyone works so hard here to keep a valuable thread - valuable and kind...

SO -
TO Donny -

1.Play nice.
2.Words matter.

reply to post by redhatty


Don't be fooled, that is how things change and countries shifts their priorities.

Back in the early 80s about 81, when I was in college one of our professors in economy told us that before the end of the decade the Soviet Union was going to be split and that they were to change communism for Capitalism.

He also said that America democracy was going to shift to either socialism or a mix of both.

We saw the fall of the Soviet Union, we have seen China shift of communism to a more open economy.

Now we have seen how America is starting to implement socialism when it comes to the financial institutions and now even private companies.

When that professor told us that, we all laughed at his words, all I can say is that I have never forgotten him and what he told us back then.

reply to post by redhatty
Star 4 U!!!!!!!!

...And I luv you to!!!!


Hard to get "Data" in it's truest form when in fact there is none...

@ Donny: I have my own website and "could" "create" a market if you'd prefer???

It'd be a lot like the one we have now, but, would actually use "Fundamentals", "metrics" and "trends", based on "reality", as oppossed to what we have now...

Better now???



[edit on 3/29/2009 by Hx3_1963]

reply to post by redhatty

...proposed by John Maynard Keynes in 1944.

You got that right, his economic policies have worked so well for the world, lets go ahead and move on to another one of his theories.

Bizzaro World....