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

reply to post by irishchic


Checked out the article. Noticed this at top right:

First challenge for G-20 is to not make things worse

Nope. First challenge is to avoid the appearance of a load of bickering children vying for the limelight.

...So the real decision makers behind the scenes can continue to use it as cover.

I just sent this reference to KDs "GM: Bankrupt..." ticker to the Detroit Free Press, as well as to Rod Meloni, the business editor of WDIV 4, the local NBC station.

Congressmen obviously aren't going to listen, so I'm just going to send pertinent tickers to the local media outlets from now on. Here's hoping that one of them actually covers this crap.

Wish me luck, wish me luck...!



[edit on 1-4-2009 by theWCH]

G20 summit: Leaders target bankers

World leaders will agree unprecedented global restrictions on pay and bonuses for bankers at the G20 summit in London.
www.telegraph.co.uk...

In future, bankers will be prevented from receiving multi-million pound cash bonuses for speculating on the stock market.

Their remuneration will instead be based on the risks they take over the long term. Bankers deemed to be making risky investment decisions will only be paid in shares that can be cashed in after several years.

The multi-million-pound bonuses paid to bankers have been blamed for encouraging them to take the "reckless" decisions that triggered the global financial crisis.

The Daily Telegraph has learnt that the remuneration deal was thrashed out over the past few days following intensive diplomatic efforts by Nicolas Sarkozy, the French President, and Angela Merkel, the German Chancellor. The measure did not appear in a draft communiqué that was leaked at the weekend.

The European leaders were understood to have pushed for an exact monetary limit on banking pay but were prepared to sign up to the new, strongly-worded agreement.

Regulators in each of the G20 countries will impose the new restrictions, which cover both private banks and those owned both wholly and partially by the state.

More at Link...

OK...

Shall we take a look at this statement and pick it apart, to assertain, how the bankers will use this to their advantages...'cause ya know they will...


[edit on 4/1/2009 by Hx3_1963]

reply to post by theWCH


Lots of luck Hon...
Someone has to start getting info out there,Kuddos!

Hollywood Obama gave the Queen of England an ipod.
Granted,it had "footage" of her visit to the US on it but I'm just sooooo
I don't even know what to say.An ipod.

[edit on 1-4-2009 by irishchic]

reply to post by Hx3_1963



This is what I "see" when I skimmed the post:

"Their remuneration will instead be based on the risks they take over the long term. Bankers deemed to be making risky investment decisions will only be paid in shares that can be cashed in after several years."

Okay...so Mr. John P on U Banker can be "deemed" as making risky investments and thus be "paid" in shares of ABC that will in turn be "cashed in after several years" during which they have probably been falsely-inflated and financed by the bank so that the ABC company is worth MUCH more than it would have been other wise on paper so when Mr. P on U "cashes said shares IN,they are worth a CHITLOAD more than they ever would have/should have been because ABC company has in the interim,become a "pet-project" of the bank.
He makes out the the pirate he is,of course.

Damn...that's a hellacious sentence but you get my point.




[edit on 1-4-2009 by irishchic]

uk.reuters.com...

US Sees More Job Losses.Factory Contraction Slows

I am seeing the other stilleto drop on Friday when the "data" on jobs lost comes out.

Option Bulls Line Up for RIM Calls Before Earnings:

uk.reuters.com...

Damn,Reuters UK is on it.

reply to post by irishchic
Star 4 U!

Nice...

The thing I'm looking at is...

WHO decides what's risky?

A internal "board" or external "board"?

How much risk is to much?

Who decides this?

Sounds like a bunch of Whooy to me...

It'll be manipulated soon after being implimated...

They'll just "create" a new investment "vehicle" (scam) to skirt around what evers thrown at 'em...

Or...

Borrow against/manipulate what stock they hold to increase it's value...along yer lines...

DUMB IDEA...


@ IC: Think ya missed it ...

U.S. private sector axes 742,000 jobs in March
www.reuters.com...

Probley be revised up...as all have been in later stat's...

[edit on 4/1/2009 by Hx3_1963]

Well...we've all been "singing" notes of the demise of commerical real estate as it starts to hit the pavement:

From Reuters: Moody's downgraded $1.76 trln U.S. corp debt in Q1

... Moody's Investors Service downgrading an estimated $1.76 trillion of debt, a record high ...

The downgrades included a record number to the lowest rating categories, signaling the approach of the worst defaults since at least World War Two ...

"The most prominent new driving force behind credit rating reductions would be deterioration of commercial real estate," [Moody's chief economist John Lonski] said. ...

Moody's has forecast that the U.S. default rate will peak around 14.5 percent in November.
emphasis added
Hopefully the bank stress tests have all these defaults factored in ...

reply to post by Hx3_1963


That's why I think giving Timmy the power to take over business under the cover of "this business is risky" is a really bad idea! He can crash a whole small business sector by himself.

BTW. I like that Obama is giving away strange gifts. Not only is he saving money but lowering government costs!

YAAYYYY

reply to post by Hx3_1963


HAHAHA! No...I did see that number earlier.I was just sorta' suprised that the UK Reuter's had their "act" so together but I wil give you a star because you're just so damn cute!

Yep...who will the "determining factors" that "deem" be???

Pirates all 'round.

Ya' know what? I'm weary of all the chit...ready for a damn good tea party or even something stronger to start the shake up!

What the hell ELSE have we got to lose and I'm starting to think we have everything to gain but just saying "stop the madness!"

I will be too damn old to climb a pole by the time these moronic-dweebs get their proverbial chit together.

Ready for "something"...this is all getting too stinky.



[edit on 1-4-2009 by irishchic]

reply to post by Tentickles


Good way to look at it.

Probably had some of those photos of him shirtless on the beach in Hawaii as well?

I wondered what I would give her...decided against an ipod though as that's the new "diplomatic definition of class" I guess and I sure don't want to start being classy at this point in my life.

Stars 4 All!!!

This is a nice afternoon read... (not) ...

Citi CDS costs hit fresh high ahead of FASB vote
www.reuters.com...

NEW YORK, April 1 (Reuters) - Debt protection costs on Citigroup Inc (C.N) hit record highs on Wednesday, ahead of a vote on a proposal to give banks more leeway on how they should apply mark-to-market accounting standards.

The accounting, in which assets are marked to their current market value, has been criticized for exacerbating market woes as extreme illiquidity in markets depressed debt prices.

The Financial Accounting Standards Board (FASB) plans to vote on Thursday on the guidance.

Credit default swaps insuring Citigroup's debt jumped over 700 basis points in intraday trading on Wednesday, or $700,000 per year for five years to insure $10 million in debt, said an analyst.

The swaps had closed on Tuesday at 635 basis points, according to data provider Markit.

Bank of America's (BAC.N) debt protection costs also rose to around 400 basis points, up from 395 basis points on Tuesday, according to Markit.

Some analysts view modifications to mark-to-market accounting as risky as it will allow banks to create their own values for securities, which could increase distrust over assets held on their balance sheets.

"We still know the 'stuff' is on the balance sheets and if the financials are actually allowed to adjust capital based on unreal marks then who will ever buy financials again," Tim Backshall, chief strategist at research firm Credit Derivatives Research said in a report.

Changes to mark-to-market accounting will either "make PPIP irrelevant, make the stress test irrelevant, increase uncertainty in financial balance sheets, provide no benefit for mark-to-model positions, extend the recessionary period and drive a bigger wedge between market transaction levels and bank marks," he said.

The U.S. government's Public-Private Investment Program (PPIP) is designed to help banks unload toxic assets from their balance sheets by helping private investors looking to buy loans and securities from banks.

Hope yer all stocked up on DVD's & Video Tapes...

Moody's cuts Gray Television CFR to Caa1
www.reuters.com...

reply to post by irishchic


I actually lived in England for a few years and I would definitely give her a more classy gift.

My first thought is a quilt my mother made when I was a child, it's beautiful pastel colors and has butterflies all over it.

I always give gifts that mean something to me.

Getting deep now...who's next???

Urgent: Mack calls on Obama to demand UAW Chief to resign
Per Pergram-Capitol Hill
www.foxnews.com...

* Statement from Rep. Connie Mack (R-FL). This comes on the heels of the President calling for GM's Rick Wagoner to step down.
MACK CALLS ON OBAMA TO FORCE UAW CHIEF'S RESIGNATION
WASHINGTON - Congressman Connie Mack (FL-14), a staunch and vocal critic of Washington's mind-numbing efforts to bailout and nationalize businesses, today called on President Obama to be even-handed in his handling of the nation's automobile industry and to demand the resignation of United Auto Workers President Ron Gettelfinger.
Mack said:
"
For decades, U.S. automobile executives have made one bad choice after another and led their companies down the path toward ruin. But at the same time, union bosses share equal blame for failing to act responsibly to achieve long-term stability and prosperity for their members, consumers and the auto industry as a whole.
"
United Auto Workers President Ron Gettelfinger deserves particular blame for his failures to modernize the UAW, for organizing and threatening labor strikes that have heavily contributed to the demise of the U.S. auto industry, and for refusing long-term concessions that would help General Motors, Chrysler and Ford create cost-savings and preserve jobs.
"
If President Obama is willing to fire the CEO of General Motors because of his failures, then he should be even-handed in demanding Ron Gettelfinger's resignation for his equally egregious failures.
"
Sadly, the Obama Administration, like the Bush Administration before, will instead do all it can to pick America's winners and losers regardless of the consequences to the free market and the American way of life.
"
I urge the President to stop and look both ways before he continues down this dangerous road. I would hope that President Obama would instead decide that freedom matters, that freedom works and that the path to renewed prosperity is not by destroying the very ideals that made our nation great."

[edit on 4/1/2009 by Hx3_1963]

reply to post by Hx3_1963


Hopefully Obama will stay away from "asking" people to leave their jobs. I will only believe that he's trying to take over businesses personally when he fires more people.

Sorry...more news...

U.S. seen facing danger of 2nd recession next year
www.reuters.com...

NEW YORK (Reuters) - Although the U.S. economy is expected return to growth later this year, there is a danger of a second recession if monetary easing and a weak dollar leads to increased inflation expectations, a report said on Wednesday.

Massive stimulus spending and moves by the Federal Reserve to fuel economic activity is expected to jump-start the anemic U.S. economy in the last quarter of this year after it contracted 6.3 percent in fourth quarter of 2008.

But the Fed's moves to boost the economy by slashing interest rates and buying up billions in government debt could have undesired consequences, The Conference Board, a private research group, said in the report.

"If the United States experiences a too-rapid recovery, there may be a risk of another recession in 2010," said Bart van Ark, vice president and chief economist of The Conference Board.

"It may fuel expectations for a return to inflation, adding to the uncertainty concerning the pattern and path of economic recovery," he said.

The U.S. economy has the potential for a "double-dip" recession, Van Ark noted, similar to 1980 and 1982, as commodity prices rise on the back of a falling dollar and monetary easing.

He added, however, that the likelihood of this scenario taking place is small as deflation risks are great, while government stimulus spending should stem further economic decline and ease the flow of job losses.

The U.S. economy could contract by 2.6 percent in 2009, the largest annual decline since 1946, the Conference Board said.

...Just like the last Depression...

[edit on 4/1/2009 by Hx3_1963]

I think that when the businesses in question are borrowing billions of federal dollars, the federal government has the right to say "we'll consider lending you more if the incompetent CEO steps down." To me, this "Obama fired the Wagoner" talk is a bit overblown.

The real question is: "Should the .gov be lending money to insolvent corporations, in the first place." Anything else is over-complicating things, IMO.

With that said, I would love to see Gettlefinger get ousted. I'm sick of that guy.

[edit on 1-4-2009 by theWCH]

reply to post by Tentickles



Agreed.


What a lovely thought and I too always give "meaningful" gifts,often taking more time with them than what they actually cost.

I quilt as well believe it or not! Many are on the receiving end of my efforts.

Australia
S&P/ASX 200 INDEX 3,628.40 48.70 1.36% 19:22
S&P/ASX 300 INDEX 3,616.00 48.70 1.37% 19:22
ALL ORDINARIES INDX 3,573.60 46.40 1.32% 19:22

New Zealand
NZX 50 FF GROSS INDEX 2,578.69 9.45 0.37% 19:01
NZX TOP 10 INDEX 743.45 0.63 0.08% 19:01
NZX 15 GROSS INDEX 4,768.04 -0.97 -0.02% 19:02
NZX ALL INDEX 647.30 0.64 0.10% 18:50
===
Gold $926.79

Dang my 2009 Headlines sounding more "dire" everyday...

[edit on 4/1/2009 by Hx3_1963]

More Ugly Details Emerge On "Geithner's Heist America Plan"

U.S. regulators bracing for bank stress test battle

Fannie Mae and Freddie Mac Receive $46 Billion From Treasury

from the wires:

U.S. House backs new pay curbs at bailed-out banks
WASHINGTON (Reuters) - The House
on Wednesday approved legislation to curb
employee pay at financial firms that receive government bailout
funds, a measure that could supplant an earlier effort to
heavily tax executive bonuses.
The bill, which passed on a 247-171 vote, would give the
U.S. Treasury broad powers to prohibit "unreasonable and
excessive" compensation and bonuses that are not based on
performance standards.
The Pay for Performance Act is among a number of efforts by
Congress to claw back bonuses and curb pay in the wake of
public anger over executive bonuses at insurer American
International Group, which has received a bailout worth
up to $180 billion.
REUTERS

France demands tougher G20 rules France demands tougher G20 rules

GAO Says Geithner Wrong: Only $32.6B in Uncommitted TARP

April 01, 2009 10:22 AM

On "This Week" Sunday, Treasury Secretary Tim Geithner told me that there was about $135 billion of uncommitted funds left in the TARP, the government's financial rescue package.

But the Government Accountability Office, a non-partisan federal agency, reports that figure is closer to $32 billion, which is what ABC News and other independent analysts thought.

The Treasury Department continues to insist GAO and others are double-counting commitments and underestimating potential paybacks.

An official Treasury response to come ...

--George Stephanopoulos

UPDATE: GAO officials tell ABC's Charlie Herman that they now believe there are about $109 billion available in TARP. The office accepts Treasury accounting for all but the $25 billion Treasury estimates will come from financial institutions returning TARP money.

~~~~~~~~~~~~~~

ipods, DVDs that don't work in Europe, we gots a pres that is totally ghettofabulous in his gift givin, dont we??

Sorry guys - I am going to drink myself into a stupor - The ever so polite Brits can get together and create one hell of a protest, yet all of us "uncouth" yanks can't get the "F" away from american idol to even know whats happening.

I'm too disgusted for words