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

reply to post by audas


Yes you are right but the big banks are buying big counterparts small banks are just allowed to die, if you see the list of banks that are failing since last year (is a few links somewhere within this long thread) is staggering but they are just local small banks and nobody is buying them out they are just dying out.



[edit on 23-4-2009 by marg6043]

California Governor Arnold dares to tell the truth,

"It was not the car manufacturers that created the mess -- it's the government that has screwed up," said Schwarzenegger, a key speaker at the Society Automotive Engineers 2009 World Congress in Detroit.

www.freep.com...

Another "view" on today's news...

U.S. jobless claims rise, home sales fall
www.reuters.com...

WASHINGTON (Reuters) - The number of newly laid off U.S. workers filing claims for jobless benefits rose last week and sales of previously owned homes fell in March, data showed on Thursday, indicating the 16-month old recession was far from over.

At the same time, the number of people claiming benefits after drawing an initial week of aid vaulted to another record high in early April, for the 14th consecutive week, the Labor Department said.

The reports dampened hopes that the recession, which is on track to become the longest since the Great Depression next week, was close to reaching a bottom.

More at Links...

U.S. mass layoffs rise to highest on record
www.reuters.com...

NEW YORK (Reuters) - Large-scale U.S. layoffs rose again in March, according to Labor Department data on Thursday, as the economy struggles with what many expect will be the country's worst post-World War II recession.

Last month witnessed 2,933 more mass layoffs, defined as affecting 50 or more workers, than February. This brought the total number of people who lost their jobs in this manner to 299,388, the highest on a record that dates back to 1995.

The U.S. job market has been under severe strain as a crisis first evident in housing spread to the rest of the economy, severely curtailing corporate profits and consumer spending.

Treasury yields reach highest in five weeks as auction looms
www.marketwatch.com...

Treasury called to account over use of taxpayer funds
&siteid=nbsh]Marketwatch

Barofsky "sounds" like he's pretty concerned...

[edit on 4/23/2009 by Hx3_1963]

reply to post by Hx3_1963


Also the people moving from homes to homes been rentals or else also has declined.

The big lie about how much money from the tax payer has been earned from the TARP deals, NONE, actually we the tax payer since the whole bail out scam started has lost a whooping, 104 billion, that equals to 900 dollars per household.

So much for the "fixing of the economy" we are losing.

According to research think tank Ethisphere, the federal government has doled out roughly $590 billion of the $700 billion allocated for TARP. As of April 10, that investment has yielded a net loss of $104 billion, according to Ethisphere which equals over $900 for every American taxpaying household.

Those losses include $30 billion to failed insurance giant American International Group, $25 billion to Citigroup and $2.4 billion to Wells Fargo.

This loses will keep mounting over time and will fall on the backs of every tax payer on the nation.

www.businessweek.com...

Now this makes me want to cry...

Auditors: Nearly 25% of Companies May Not Be Going Concerns
A research firm predicts 3,589 public companies will report that their auditors doubt they will continue as going concerns.
www.cfo.com...

The auditors of nearly one-quarter of publicly traded companies feel that the companies may not live out the year.

Auditors have become increasingly doubtful about their clients' ability to continue as going concerns, according to the most recent report on the subject by Audit Analytics, which has tracked the number of such going-concern opinions this decade in a recently released report. With calendar year-end 2008 filings still coming in to the Securities and Exchange Commission, the research firm estimates there will be 3,589 going-concern opinions eventually filed for 2008 annual reports, an increase of 9% compared to last year's total of 3,293 going-concern opinions.

Audit Analytics made this prediction based on a compilation of regulatory filings made as of late March for 2008 10-Ks. Its data suggests auditors' going-concern doubts were more commonplace compared to the previous year. If the firm's estimate is correct, the number of auditors' documented worries about their clients' viability will reach the highest level this decade.

More at Link...

Originally posted by Hx3_1963
Now this makes me want to cry...

Auditors: Nearly 25% of Companies May Not Be Going Concerns
A research firm predicts 3,589 public companies will report that their auditors doubt they will continue as going concerns.
www.cfo.com...

The auditors of nearly one-quarter of publicly traded companies feel that the companies may not live out the year

Now that is earth shattering news...I am fearing the worst all this week the reporting is worse and worse. I also am

to hear the IMF foretell that no recovery is in sight, not even in 2010! I think we have been had!

well...it did take 3 years for the great depression to reach the bottom...from 1929 to 1932...and it seems that is what is happening now. i have paid off all debt, and monies that i do have are going into financial instruments that will increase in value as inflation increases, and will produce a small return if stagflation happens. that's about all i can do at this stage...if anybody has a better and SAFER idea...i'm all ears.

Originally posted by marg6043
California Governor Arnold dares to tell the truth,

"It was not the car manufacturers that created the mess -- it's the government that has screwed up," said Schwarzenegger, a key speaker at the Society Automotive Engineers 2009 World Congress in Detroit.

www.freep.com...

This is interesting - as recently I heard him on the radio defending something that wasn't popular among the political sect - (sorry I can't remember what it was - there are so many issues) - the point being - he was very vocal in regards to the fact that he was not running for anything anymore. His time was done - and was basically stating that he didn't have to sell out any longer... He could do and say what he wanted. These were not his exact words - but the sentiment was impossible to miss.

[edit on 23-4-2009 by spinkyboo]

And for your viewing dis-pleasure...

Cuomo’s letter to regulators
charlotte.bizjournals.com...

Following is a copy of New York Attorney General Andrew Cuomo’s letter to federal regulators and oversight committees regarding Bank of America Corp.’s acquisition of Merrill Lynch & Co. Inc.

The letter was sent to Christopher Dodd, chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs; Mary Schapiro, chairman of the Securities and Exchange Commission; Barney Frank, chairman of the House Financial Services Committee; and Elizabeth Warren, chair of the Congressional Oversight Panel.


April 23, 2009

Re: Bank of America-Merrill Lynch Merger Investigation

Dear Chairpersons Dodd, Frank, Schapiro and Warren:

I am writing regarding our investigation of the events surrounding Bank of America’s merger with Merrill Lynch late last year. Because you are the overseers and regulators of the Troubled Asset Relief Program (“TARP”), the banking industry, and the Treasury Department, we are informing you of certain results of our investigation. As you will see, while the investigation initially focused on huge fourth quarter bonus payouts, we have uncovered facts that raise questions about the transparency of the TARP program, as well as about corporate governance and disclosure practices at Bank of America. Because some matters relating to our investigation involve federal agencies and high-ranking federal officials charged with managing the TARP program, we believe it is important to inform the relevant federal bodies of our current findings. We have attached relevant documents to this letter for your review.

More at Link...

I do not think this has been posted yet...

The first bailout fraud case

A former financial adviser in Tennessee will plead guilty to criminal charges in the first fraud case related to the federal bank bailout program, his lawyer said Wednesday.

Federal prosecutors charged Gordon B. Grigg with four counts of mail fraud and four counts of wire fraud on Wednesday, accusing him of using the government's $700 billion Troubled Asset Relief Program as a front to lure investments

www.google.com...

Talkingabout one quarter of the publicly traded companies going belly up...imagine what that will do the the S&P

[atsimg]http://files.abovetopsecret.com/images/member/d1b6fd8a9d18.gif[/atsimg]

About dang time someone does something...

Wells Fargo Sued by California Over $1.5 Billion Auction-Rate Securities
www.bloomberg.com...

April 23 (Bloomberg) -- California Attorney General Jerry Brown sued units of Wells Fargo & Co. today, claiming they sold investors $1.5 billion of auction-rate securities and deceptively advertised them as being as safe as cash.

A complaint filed in state court in San Francisco today names Wells Fargo Investments LLC, Wells Fargo Brokerage Services LLC and Wells Fargo Institutional Services LLC as defendants. San Francisco-based Wells Fargo is the nation’s second-largest bank by market value.

Interest on auction-rate investments, typically municipal and student loan-backed bonds and preferred shares, reset every seven to 35 days at bidding managed by the dealers. The once- $330 billion market collapsed in February 2008, after broker- dealers stopped participating in the auctions.

More at Link...

Bank of America Options Indicate Bets on Short Sales, Credit Suisse Says
www.bloomberg.com...

[edit on 4/23/2009 by Hx3_1963]

Originally posted by jimmyx
well...it did take 3 years for the great depression to reach the bottom...from 1929 to 1932...and it seems that is what is happening now. i have paid off all debt, and monies that i do have are going into financial instruments that will increase in value as inflation increases, and will produce a small return if stagflation happens. that's about all i can do at this stage...if anybody has a better and SAFER idea...i'm all ears.

Its a great idea to have 0 debt of course.

If you have anything left, IMHO, DOLLAR COST AVERAGE into a variable annuity that fits your objectives and goals.

IMHO its probably the best thing you could do in this range of choppy markets

Originally posted by marg6043
California Governor Arnold dares to tell the truth,

"It was not the car manufacturers that created the mess -- it's the government that has screwed up," said Schwarzenegger, a key speaker at the Society Automotive Engineers 2009 World Congress in Detroit.

www.freep.com...

All he needs is an amendment to the Constitution which will allow a foreigner to become president of the USA. No big deal, isn't it? Especially if he is a bigger patriot than some born Americans.

Originally posted by burntheships
I do not think this has been posted yet...

The first bailout fraud case

A former financial adviser in Tennessee will plead guilty to criminal charges in the first fraud case related to the federal bank bailout program, his lawyer said Wednesday.

Federal prosecutors charged Gordon B. Grigg with four counts of mail fraud and four counts of wire fraud on Wednesday, accusing him of using the government's $700 billion Troubled Asset Relief Program as a front to lure investments

www.google.com...

Talkingabout one quarter of the publicly traded companies going belly up...imagine what that will do the the S&P

[atsimg]http://files.abovetopsecret.com/images/member/d1b6fd8a9d18.gif[/atsimg]

That linear chart you posted is highly misleading, although with failing companies come acquisitions, its starting to happen quite a bit, I think thats really good for the market

The house of card that has become the biggest scam in the history of this nation since the great depression call the bail out is falling down.

But hey be happy my friends and supporters of this great and amazing thread we all knew what was heading down the line, but still it is happening sooner than later.

Now the credit card meetings have a me very worry, because we all know that the unemployment figures are just adding to the default on credit cards and "others" so is more than meet the eye when it comes to the recent meeting of Obama with the major credicard houses.

I will say this trying to help the "consumer" my butt, this people are preparing for the next vicious cycle of credit card defaults that is going to be as bad as the mortgage defaults.



[edit on 23-4-2009 by marg6043]

reply to post by GreenBicMan


Well this what happen when the government rush to put money into the hands of crocks, while turning their heads the other way.

I expect more of this.

reply to post by DangerDeath


Yeah you may be right there we sure are running of choices for presidential candidates later perhaps we need more than hopes muscles to go with it.

I remember posting how our own government help kill the US car manufacturing with their unfair free trade agreements and benefits to foreign made cars.

reply to post by marg6043


The idea of Free Market really destroys the concept of state. The idea of Globalization suits corporations because they can outsource at will, and in practice, yes - American basic industry is being systematically destroyed as a result of such economical practice. This form of capitalism is definitely a mass murderer, this will be realized by all very soon.

Fed's balance sheet doubles in size in 2008
www.reuters.com...

Foreign central banks Treasuries holdings down - Fed
www.reuters.com...

Banks May Need $1 Trillion of Extra Capital After Stress Tests, KBW Says
www.bloomberg.com...

April 23 (Bloomberg) -- U.S. lenders including Wells Fargo & Co. may need another $1 trillion in capital to cushion losses as unemployment rises and borrowers fall behind on payments, KBW Inc. analysts said today.

The estimate is based on KBW’s own “stress test” of the strength of top U.S. lenders, wrote analysts led by Frederick Cannon. The government is also evaluating the ability of banks to withstand a deepening recession.

Bankers may get their first look tomorrow at results of the tests, which are being conducted on 19 of the biggest U.S. financial companies. The examinations will compel lenders to raise more capital by selling shares, converting government stakes to common stock or by seeking more taxpayer funds, according to a person familiar with the matter.

Freddie CFO Was Told To Take Time Off
www.cbsnews.com...

D.C.'s Ghoulish Response To Suicides
www.cbsnews.com...

[edit on 4/23/2009 by Hx3_1963]

reply to post by GreenBicMan

This chart might better suit you? Not all companies that fail will be acquired.
[atsimg]http://files.abovetopsecret.com/images/member/e869c44fe6b8.png[/atsimg]

[edit on 23-4-2009 by burntheships]