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

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posted on Apr, 27 2010 @ 09:44 PM
I agree that de-regulation and a total lack of enforcement of what regulations existed are as much to blame for this mess as anything done by wallstreet.

I have no problems with wallstreet's function of efficiently moving capital into areas that need it and making money off of fees in the process. I have real big damn problem with the way things are right now where that capital is only trickling down into the real economy.

I'd like to give a wrasslin analogy to today's hearing if you'll humor me. It was like watching two heels fight. I really don't care which one wins but I want to see them bloody each other up good.

posted on Apr, 27 2010 @ 09:49 PM

Greenspan had a big hand in the Social Security brouhaha. Back in 1981 Reagan appointed Greenspan head of a Social Security Commission that was supposed to fix the system. How did he fix it? By recommending the most regressive tax we have ever had in U.S.: the payroll tax, which applies only to workers at the bottom and the middle class. His recommendations became law in 1983. He tried later to reduce worker benefit increases without success. In 2001 he was in favor of Bush's tax cuts and recently for Social Security privatization, even though they both would increase the deficit. He says he is for low taxes. But he recommends tax cuts to take care of the rich and a payroll tax to take care of the poor. After being for tax cuts for the rich he asked Congress to follow their pay-go approach when legislating for the poor. Then he had the gall to complain about the huge deficit when he had previously recommended the huge tax cuts.

However, there was an outfit called Long Term Capital Management (LTCM), a highly risky hedge fund for super-wealthy investors. It had "only" $3.5 billion, but borrowed $100 billion to invest. The borrowed money and the $3.5 billion equity disappeared. What do you think Greenspan did? He bailed out LTCM. Yes, we must have de-regulation. However, we cannot allow such a big, rich, influential company to die.

Edmund L. Andrews reports in today's NYTimes (12-18-07) that Greenspan ignored repeated warnings on the dangers of subprime mortgages from Federal Reserve governor Edward M. Gramlich nearly seven years ago, in 2001 from senior Treasury Department official, Sheila C. Bair, and from leaders of a housing advocacy group in California, John C. Gamboa and Robert L. Gnaizda who warned that deception was increasing and unscrupulous practices were spreading. "He never gave us a good reason, but he didn't want to do it (press lenders to adopt a voluntary code of conduct). He just wasn't interested."

In the article, Burry said he began seeing problems in the housing market as far back as 2004 with the reappearance of interest-only mortgages. “Increasingly, lenders concerned themselves more with the quantity of mortgages they sold than with their quality,” Burry wrote. At the same time, the Federal Bureau of Investigation reported cases in mortgage fraud increased fivefold between 2001 and 2004, Burry said.

[edit on 27-4-2010 by drew hempel]

[edit on 27-4-2010 by drew hempel]

[edit on 27-4-2010 by drew hempel]

posted on Apr, 27 2010 @ 09:51 PM
reply to post by jefwane

I guess all I am saying is I now at this point (if not already) seriously lost all faith in American politics and I have also lost faith in the intelligence of said persons.

Can they really be that #ing dumb? Can they not realize a market maker takes inventory?

Can they not realize you have to add up the Net Long AND Short Positions in order to get the real amount?

Blankfein could have really made those dopes look so #ing dumb, but I know he held back a #load. He could have ripped them.

I am guessing I know why. You scratch my back with political softballs and then I'll scratch yours with campaign contributions.

We need to END ALL #ING CAMPAIGN CONTRIBUTIONS FROM CORPORATIONS and then get rid of every Senator on that panel and send them to Bolivia. And not for the coke.

posted on Apr, 27 2010 @ 10:01 PM
reply to post by GreenBicMan

The New York Democrat is a member of both the Senate Committee on Finance and the Senate Committee on Banking, Housing, and Urban Affairs, and he's received so much money from Wall Street over the years—more than $14 million—that he actually shut down his personal fundraising efforts between 2005 and 2008. Since then he's raised a staggering $284 million for the Democratic Senatorial Campaign Committee, which he headed until recently, and much of it has come from Wall Street. In June 2007 alone, when lobbying for the carried interest rule reached a fever pitch, employees of private equity firms contributed nearly $800,000 to the DSCC.

The defense lobby? Pikers. They contributed $24 million to individuals and PACs during the last election cycle. The farm lobby? $65 million. Health care? We're getting warmer. Health care was the No. 2 industry, at $167 million. And the finance lobby? They're No. 1, with a very, very big bullet. They contributed an astonishing $475 million during the 2008 election cycle. That's up from $60 million almost two decades ago.

[edit on 27-4-2010 by drew hempel]

posted on Apr, 28 2010 @ 03:52 AM
More blood on the streets...

EUR falls to 1.31421

Russia 1559.54 -44.05 -2.75% 12:46

ATX 2,601.33 4:34AM EDT Down 99.65 (3.69%)
ATX 2,587.05 4:51AM EDT Down 113.93 (4.22%)

Spain 1051.57 -33.03 -3.04% 10:30
Spain 1044.66 -39.94 -3.68% 10:50

[edit on 4/28/2010 by Hx3_1963]

posted on Apr, 28 2010 @ 08:10 AM
reply to post by GreenBicMan

I said they aregoing down for the time being, meaning they will get a hit when the law sues start, no that they are going down and out of business, see they are too big to fail, but I am sure to enjoy their littler downfall for a while

GS and all the big too fail have been doing inside trade of about $4.68 trillion in gold you are rigth they are GS is not going to fail the fat rats knows something we don't and they are backing their wealth with gold.

■Morgan Stanley has approximately $1.297 trillion in this deal.

■Bank of America is in for over $2 trillion.

■JP Morgan is in for an additional $665 billion.

■And Goldman has $721.9 billion at stake.

April 28, 2010 As Scary as it Seems, Greek Debt Crisis Won’t Spawn Second Global Meltdown

And so that is what the news now are telling.

posted on Apr, 28 2010 @ 08:18 AM
reply to post by marg6043

No, trust me.

They will not go lower than they are now.

The US just proved their incompetence.

I could be rich on these options.. watch GS to 200 within 2 months max.

It won't go a dime lower than 150. If it didn't yesterday, it never will. This is another call I would almost risk deletion of my account on. I feel that strongly about it as other calls in the past.

The US political system is a sham and I watched every minute of that supposed grilling just to learn these Senators are more interested in getting reelected and not interested in the facts. Just their diluted bull# opinions that are based on fiction.

Total bull#, anyway.. I already said all that haha.

I just can't shake these feelings.

posted on Apr, 28 2010 @ 08:31 AM
reply to post by GreenBicMan

That is why they are buying all that gold, the are going to boost their trades in the future, after all is a lot of money they are going to get hit after the law sues.

Money talks and BS walk, at a tune of 1 million dollar a day in congress, since April 22 up to day the investment in congress is up to 8 million dollars and growing.

But who is going to be hit the worst next elections? well after the road block that Republicans are doing to stop the restrictions to Wall street I wonder . . .

Money talks and you know the rest . . .

[edit on 28-4-2010 by marg6043]

posted on Apr, 28 2010 @ 08:35 AM
reply to post by marg6043

I think gold is a good investment as well.

If you were following my thread I got into it about 15 dollars ago..

But if you were paying attn yesterday it is apparent that GS could have been #ting gold bricks and the Senators wouldn't even notice bc they were too busy trying to make themselves look good to their brain dead constituents.

posted on Apr, 28 2010 @ 08:40 AM
reply to post by GreenBicMan

Yes but if you got a glimpse (you know the corporate media avoid them like the plague) of the protest outside capitol hill the posters on the hands of the protesters said "Wall street got red handed buying congress"

So yes congress members should be very afraid, people are not buying their BS, I am and you neither, millions in America are aware of the pony show.

posted on Apr, 28 2010 @ 08:47 AM
reply to post by marg6043

It does look like a few are catching wind.

As I said previously, you are now doing a disservice to your country if you vote for either Democrat or Republican ever again the way I see it.

You might not go as far as that, but after watching the straight talk express yesterday I was about ready to pull my hair out. Or what is left after the dreaded receding hairline that I have

posted on Apr, 28 2010 @ 11:00 AM
Spain has just been downgraded from AA+ to AA. Let's see how the markets perform.

[edit on 28-4-2010 by SpaceMonkeys]

posted on Apr, 28 2010 @ 11:44 AM
Now if they could do their job regarding JAPAN, UK and US, I would be happy... until then, they are just bought and paid for.

Like they rated all that Goldman Sachs junk AAA+... how come they aren't investigated like Goldman Sachs is? The rating agencies are as bad as Goldman Sachs in this... they helped in the scam.

posted on Apr, 28 2010 @ 12:13 PM
I wonder when the DOW will crack the 12,000 mark! I think it may crack 14,000 by summer. It may as well completely contradict everything.

posted on Apr, 28 2010 @ 12:42 PM
The capital of Pennsylvania is bankrupt...oops.

Harrisburg, Pennsylvania, Council Told to Consider Bankruptcy

April 27 (Bloomberg) -- Harrisburg, Pennsylvania, which has missed $6 million in debt payments since Jan. 1, should consider seeking Chapter 9 bankruptcy protection, City Controller Dan Miller told a three-hour special committee hearing.

Miller, the first of four people to testify last night in an “informational session” on insolvency convened by Gloria Martin-Roberts, council president, said bankruptcy may offer Harrisburg relief from $68 million in debt-service payments this year tied to a waste-to-energy incinerator project. Martin- Roberts opposes a bankruptcy filing.

Harrisburg, the capital of Pennsylvania, the sixth-most populous U.S. state, has guaranteed payments on $282 million in bonds on the incinerator, run by the Harrisburg Authority. The payments on the bonds and on a working-capital loan this year add up to four times the amount the city collects in property taxes each year, budget documents show.

Time to raise taxes by 400%

Also Greece needs 135 BILLIONS to make it...for now... I think Germany is pissed...
In german

If I would be Merkel, but a nationalist, because Merkel is clearly NOT... I would say, WE KICK GREECE OUT OF THE EURO RIGHT NOW OR WE LEAVE.

[edit on 28-4-2010 by Vitchilo]

posted on Apr, 28 2010 @ 03:00 PM

S&P downgrades Spain to ‘AA’ with a negative outlook, saying the country is likely to have an extended period of subdued economic growth.

Markets react: DJIA plummets from +23 to –22 in seconds after S&P drops Spain’s debt rating. And the sovereign debt nightmare is only beginning. The UK is next. But the USA borrows more money faster than anyone

see article for a graph of 2010 projecte soverign debt issuance

yeah, the GS hearings yesterday was a sideshow. all talk.. i completely agree with bic that if you vote either party (republicrats) then your doing a dis-service to americana...

posted on Apr, 28 2010 @ 06:17 PM

The head of the International Monetary Fund has warned that the crisis in Greece could spread throughout Europe.

Does this mean that it's all Greece's fault? Greece is contagious?

Ah, yes!

World financial markets, recovering slightly on Wednesday, have been badly hit by fears of contagion from Greece.

This is even worse than yesterday's GS show...

Aha! Now they talk about what really needs licking-soothing.

"We also need to restore confidence... I'm confident that the problem will be fixed. But if we don't fix it in Greece, it may have a lot of consequences on the European Union," Mr Strauss-Kahn said.

But again, it must be fixed in GREECE!

The aid package being offered by the EU and IMF is currently 45bn euros ($59bn; £39bn).

But support for the bail-out in Germany will not be helped by claims that the total cost of the proposed package could be up to 120bn euros over three years.

You see, this is the problem. Greece's total debt is 150 bn, they will cover almost all of it, which is actually a (historically practiced) socialist policy of taking from those who have and giving to those who don't have it. The true reason of such debt will be covered up. But, the true reason of situation in Greece is that it was helped in this manner from the very beginning (entering EU), only they pretended that the money will be returned one day. They all knew how it was going to end. Now, the policy of returning money according to some principles of fair exchange must be discarded, in favor of what? ... Dictatorship...

Some, at least, are aware what kind of vertigo this kind of policy will create, and the real problem is - America started it all with its own bailouts (which is, actually, a political shock).

In the end, all money will devalue and Greece and everybody else will have no real rescue, just pretense...

posted on Apr, 28 2010 @ 08:06 PM
Citigroup sends a letter to Obama in support of the financial ``reform`` bill...


That just does it, they gonna pass it... the banks want it, and the idiot public want it...because they think the banks are against it! HAHAHAHAHAHA

posted on Apr, 29 2010 @ 01:08 AM

An unprecedented financial crisis afflicting the nation's largest court system is in the hands of the policy making California Judicial Council, with Los Angeles court officials awaiting its decision on their plea for an infusion of cash.

The Los Angeles court system has already closed 17 courtrooms and another 50 will be shut down come September unless something is done to find more money. The closures have disrupted everything from divorce and custody proceedings to traffic ticket disputes.

The judicial council scheduled a meeting Friday to deal with the request from presiding Superior Court Judge Charles W. McCoy Jr. to divert $47 million in funds from the courthouse construction budget to help stave off more courtroom closings and staff layoffs.

McCoy predicts chaos and a logjam of civil and family law cases if additional funds are not found.

He said the Los Angeles court's budgetary shortfall is $133 million which will be permanent each year unless there is an influx of funds from somewhere.

posted on Apr, 29 2010 @ 01:13 AM
reply to post by TheCoffinman

Bunch of stupid pot heads.

How is it possible for them to have the largest court system and not write enough tickets to make money?

Is everything legal in California now? They should start outlawing something and make some money.

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