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

Here's the Bloomberg write-up on it...

BB&T Said to Be Taking Colonial in Year’s Biggest Bank Failure
www.bloomberg.com...

Aug. 14 (Bloomberg) -- BB&T Corp., the North Carolina lender that bought back a $3.1 billion stake from the U.S. government, is taking over offices and deposits of Colonial BancGroup Inc., according to a person familiar with the matter.

Colonial, Alabama’s second-largest bank, is being closed by regulators today, the person said, becoming the largest U.S. bank failure of 2009 after an expansion into Florida saddled the lender with more than $1.7 billion in soured real-estate loans.

Colonial said last month there was “substantial doubt” it could survive and on Aug. 7 said its warehouse mortgage-lending business is the target of a U.S. criminal probe. The Securities and Exchange Commission issued subpoenas for documents related to accounting for loan loss reserves and participation in the Troubled Asset Relief Program, the bank said.

And Market-Ticker...

One Of Three Down; Is The FDIC Still Solvent?
Market-Ticker.org

Dow Jones Industrial Average 9,268.80 1:24pm ET Down 129.39 (1.38%)
S&P 500 INDEX,RTH 998.09 1:24pm ET Down 14.64 (1.45%)

Gold $947.53

Silver $14.73

Oil $67.75

[edit on 8/14/2009 by Hx3_1963]

Just for gits and shiggles, I decided to have my shot in the dark.



Of course, I don't know what I am doing....
Let's just say I am speculating on the speculation of speculative speculations.
And while we are doing so, FDIC will announce only 2 banks this weekend because Colonial was so large. The other will be a small timer outfit. Next Friday though... that is when I predict FDIC will have to go to the Treasury Trough for more feed.

[edit on 14-8-2009 by nydsdan]

Originally posted by nydsdan
Just for gits and shiggles, I decided to have my shot in the dark.

Of course, I don't know what I am doing....

...I love that upper range Fluorescent "Green Shot"...well within reach when Ben's Helicopter is operating within specified perimeters...


Aaahhh...CNBS...all of it's Floor Traders are now on the "We're not Trading on Fundamentals anymore" Train and "Would be much lower if not for the "Recovery Play" but still the "Talking Heads" are talking it up :shk:

[edit on 8/14/2009 by Hx3_1963]

reply to post by Hx3_1963


Yeah, I had to throw it in there because I was expecting a week ending close just a hair over 9400 and that is the only way I could make it work. Would I be surprised if it still happened? Hell no!

I can see it now: "Stocks rally during afternoon session on news that the Fed is more confident than consumers."

Now no peeking!

Sound familiar?

www.wealthdaily.com...

* Sentiment improved by market support yesterday. Conservative observers still advise buying on dips and selling rallies, but if market can get above previous resistance, would be considered confirmation of uptrend and convert many observers to the bull side.

(Talk about buying yer way to the bottom

)

News from July 23, 1930

Thursday, August 14, 1930
newsfrom1930.blogspot.com...

Dept. of Labor reports cost of living down 2.1% between June 1929 and 1930; down 23% between June 1920 and 1930.

Companies reporting decent earnings: Jersey Central Power & Light, US Gypsum, Weston Electrical Instrument.

One broker points out that “refrigerated” floor of the stock exchange could make overcoats desirable on very low-volume days.

Dow Jones Industrial Average 9,258.07 1:44pm ET Down 140.12 (1.49%)
S&P 500 INDEX,RTH 996.85 1:44pm ET Down 15.88 (1.57%)

[edit on 8/14/2009 by Hx3_1963]

I see that the board slid down back to life.

I've seen this before. It just Mr. Goldman making sure that he got enough lunch money.

In case like this, you need an interval -- like scoring in football.

[atsimg]http://files.abovetopsecret.com/images/member/ff492d173a0b.jpg[/atsimg]

Hmmm...what's wrong with these Articles...?

TREASURIES-Bonds add gains after CPI matches forecasts
www.reuters.com...

FOREX-Dollar falls vs yen after U.S. CPI data
www.reuters.com...

Neither fails to mention the -2.1% YoY CPI that happened just like in the post above on Aug 14th 1930... ...well...Cost of Living...CPI...

what a "Miracle Rally" into the close there...

Mr Goldman must of only had the Shrimp Scampi today... :shk: ...STANDER!!!


[edit on 8/14/2009 by Hx3_1963]

@HX3

Great SPY ramp @ the close....didn't see that coming

Brought to you by Bernanke's Floor Emporium...but lest we get too carried away....history is a biotch...

reply to post by RolandBrichter

Brought to you by Bernanke's Floor Emporium

Where we don't just lay the floor...we bury you under it! Ask Jimmy H.!!!
(Custom Helicopter Drops available at discount prices now!!!)
1-800-Free-Money.gov Skype says...Call Now!

Dow Jones Industrial Average 9,321.40 4:02pm ET Down 76.79 (0.82%)
S&P 500 INDEX,RTH 1,004.09 4:08pm ET Down 8.64 (0.85%)

[edit on 8/14/2009 by Hx3_1963]

@ above...

To follow up...who here thinks that, at some point, the Fed will allow the markets to slide in order to drive demand to cover new Treasury issuances?

We know that TFR is buying T's, but if they actually DO ease off the presses, who would be in the market without a good scare?



[edit on 14-8-2009 by RolandBrichter]

Originally posted by stander
I've seen this before. It just Mr. Goldman making sure that he got enough lunch money.

In case like this, you need an interval -- like scoring in football.

[atsimg]http://files.abovetopsecret.com/images/member/ff492d173a0b.jpg[/atsimg]

[atsimg]http://files.abovetopsecret.com/images/member/3d15e75c6552.jpg[/atsimg]




[atsimg]http://files.abovetopsecret.com/images/member/9ae1e3a59229.jpg[/atsimg]



[atsimg]http://files.abovetopsecret.com/images/member/6618e6bb4fd0.jpg[/atsimg]

Tackling the Tough Issues

reply to post by RolandBrichter


The 30 year bonds were very well bid yesterday and were up again today on the low inflation news. The Fed usually stops printing money when inflation starts to be a problem. The stock market is starting to range trade again so it won't just be up up up up up up up like it has been. Today we worked on the floor.

[edit on 14-8-2009 by fromunclexcommunicate]

The Time draws near oh watchers of "The Epic Fail"...

Failed Bank List
www.fdic.gov...

I'll go with a Fl & Oh...besides Colonial...

Place yer bets!!! Popcorn...Corn Dogs...Ice Cold Bud!!!

[edit on 8/14/2009 by Hx3_1963]

Originally posted by fromunclexcommunicate
reply to post by RolandBrichter

 

The 30 year bonds were very well bid yesterday and were up again today on the low inflation news.

Yes, but who is doing the buying? If the Fed is continuing to purchase large quantities secretively through offshore intermediaries via OMO..the demand is overstated, no?

And, if true,what happens when one of our large creditors calls our bluff? It is no secret that China is squirming out of their long term T's as fast as they dare...and let's not forget the "Japanese nationals" caught at the Swiss border with $134.5 billion in "fake" bonds....notice how that story has been swiftly swept under the rug?

Originally posted by Hx3_1963
The Time draw near oh watchers of "The Epic Fail"...

Failed Bank List
www.fdic.gov...

I'll go with a Fl & Oh...besides Colonial...

Place yer bets!!! Popcorn...Corn Dogs...Ice Cold Bud!!!

[edit on 8/14/2009 by Hx3_1963]

Hmmm...the chatter is really starting to pick up about a bank holiday...

The FDIC is scheduled to release its Second Quarter Report that could reveal up to 1000 banks expected to croak, surely enough to exhaust their rescue fund by between 20-fold and 100-fold.

The Countsown Towards Breakdown


Edit for linky...

[edit on 14-8-2009 by RolandBrichter]

And we have our first entry of the day!!!

Bing...Bing...Bing!!!

Dwelling House Savings and Loan Association Pittsburgh PA 31559 August 14, 2009

Pa...DOH!!! On the Oh Border though

[edit on 8/14/2009 by Hx3_1963]

There is probably not one set of data released by the government that would be an objective reflection. Here is a "core inflation" that substitutes the normal inflation of prices:

Stripping out volatile energy and food prices, the closely watched core measure of consumer inflation rose 0.1 percent in July after increasing 0.2 percent in June, the Labor Department said. That was also in line with market expectations for a 0.1 percent gain.

www.cnbc.com...

So called "core inflation" disregards "volatile" energy and food prices. This is just unbelievable . . .

But there was an instance where the corrupt government economists got one right between their eyes:

The U.S. economy only saw a .02 percent bump after consumers began receiving their "economic stimulus" checks last month. That’s because for most folks, rising gas and food prices have turned them into "stretch the budget to the next payday" checks.

The Bush administration had hope that giving people back a little bit more of their own money ($110 billion in total) might give a much needed boost to the tanking U.S. economy.

www.buzzle.com...

This is what these "volatile" energy and food prices can do the plans of White House kings.

The government economic data come from one corrupted file after another.

And da "Bomb"... :shk: ...Hmmm...

"Got away again Chief...missed him by THAT much..."...Stander!!!

Colonial Bank Montgomery AL 9609 August 14, 2009
www.fdic.gov...

As of June 30, 2009, Colonial Bank had total assets of $25 billion and total deposits of approximately $20 billion. BB&T will purchase approximately $22 billion in assets of Colonial Bank. The FDIC will retain the remaining assets for later disposition.

The FDIC and BB&T entered into a loss-share transaction on approximately $15 billion of Colonial Bank's assets. BB&T will share in the losses on the asset pools covered under the loss-share agreement. The loss-sharing arrangement is projected to maximize returns on the assets covered by keeping them in the private sector. The agreement is also expected to minimize the disruptions for loan customers.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $2.8 billion. BB&T's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to alternatives. Colonial Bank is the 74th FDIC-insured institution to fail in the nation this year, and the first in Alabama. The last FDIC-insured institution to be closed in the state was Birmingham FSB, Birmingham, on August 21, 1992.

[edit on 8/14/2009 by Hx3_1963]

Originally posted by RolandBrichter

Originally posted by fromunclexcommunicate
reply to post by RolandBrichter

 

The 30 year bonds were very well bid yesterday and were up again today on the low inflation news.

Yes, but who is doing the buying? If the Fed is continuing to purchase large quantities secretively through offshore intermediaries via OMO..the demand is overstated, no?

And, if true,what happens when one of our large creditors calls our bluff? It is no secret that China is squirming out of their long term T's as fast as they dare...and let's not forget the "Japanese nationals" caught at the Swiss border with $134.5 billion in "fake" bonds....notice how that story has been swiftly swept under the rug?

Yep, and now they'll try to scare the sheeple and bank speculators back into the 'save haven' so they can prop up the dollar. They're systematically ripping the nation apart. It's like they're trying to launder money through the stock market to make it appear as if the money supply hasn't increased. Since we know money is never lost, just transfered.

The chinese have already called their bluff by first shifting from long term to short term debt and are buying commodities around the world as fast as they can. There's a silent economic war going on right now.

It's like they're trying to launder money through the stock market to make it appear as if the money supply hasn't increased. Since we know money is never lost, just transfered.

Dang...that reminds me of the conservation energy laws...

Energy is neither created nor destroyed...just transformed in state...

So...is it Gas...Liquid...or Solid now???

I'd guess solid (Ill-liquid)...as Ben has punched the Gas to infuse Liquidity (with no effect)...

Physics/Chemistry...have to love 'em...in relation to Fed Policy!

...how I hate the thread dying at 4 on a Friday... :shk:

[edit on 8/14/2009 by Hx3_1963]