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

reply to post by camaro68ss


Doesn't matter if the FED prints the money the FDIC needs. It would be irrelevant. BAC going under would create a huge chain reaction destroying everything... credit default swaps, etc... it would blow up big banks in Europe... etc...

The most likely thing to happen is that either the FED will buy a boatload of bad BAC debt to fund them... or the FED is gonna buy the bad stuff from BAC, send it to AIG or Freddie/Fannie... and give the good stuff to JPMorgan.

Either way, the taxpayer get screwed.

reply to post by camaro68ss


Let's start thinking about this logistically, if BAC goes under, how much $ in assets would need to be covered by FDIC? Still, I think it's more likely that BAC will be taken over by a bigger bank like JPMorgan.

Too bad the earthquake wasn't Washington finally getting what they deserved... aka being nuked.

It wasn't a nuke, it was Bernanke starting the printing presses needed to bailout Bank Of America.

Treasurys gain after Virginia earthquake: CRT

This is bullish... oh wait it's not.

So the market went up by 322 points... 322 or the number of skulls and bones...

Anyway, moody just downgraded Japan (again) from AA2 to AA3.

If Japan is AA3, what is the US really?

Japan produces stuff. Japan's population saves money, while the American population is hooked on credit cards and debt. The US runs bigger deficits than Japan. The US is occupying 2 countries while bombing 2-3 more... and is thinking about bombing/invading Syria and Iran. The FED is run by madmen... the government is corrupt to the bone... and the US is worth AAA? GIVE ME A BREAK.

Moody are a bunch of corrupt bastards...

Rothchild...nuff said

Rothschild Is Now In TBTF Plunge Protection Business

Following the already failed attempt by captured pan-European regulators to stop the local bank Friend-o treatment by instituting a short-selling ban, whose effectiveness as we pointed out lasted, oh, about 7 days, we find just what Plan B is. And, yes, Rothschild is involved. From the WSJ: "Societe Generale SA, whose shares have come under severe pressure in recent weeks, said Tuesday that it had signed a liquidity contract with Rothschild & Cie. to prevent excessive volatility in its stock price." That's right: Rothschild is now in the Plunge Protection business. And they all have the ECB to thank for it: after years of not learning from the New York Fed-Citadel Joint Venture, which "never" steps in at precisely the right time (wink wink), they have opened the market for third party PPT incursions. It only seems fitting that the bank that started it all, would step in and fill the void. Because after all if SocGen falls, Rothschild will sooner or later follow. That said, the official explanation is worth its weight in laughter: "The idea is not to keep the stock price high, but rather to keep it steady" a representative for Societe Generale said. After hearing such... brilliance... what really is there to say?

Now they are bailing each other
The circle is closed.
We are doomed
Whatever is going on in the markets is a written script.

There is logic, but it is not human.

reply to post by DangerDeath


Yes they are, this something that has been sticking in the back on my mind lately after the downfall last week in the markets, the damn corrupted rats in the markets behind the financial institutions in trouble are bailing themselves out, selling oversea asses and promising to rescue each other or buy each other out.

But what we don't get to see is who this corruption of fake sense of well being will fall heavily on the tax payers in the nation.

I guess when you have a revolving account anything can be make into looking peachy.

reply to post by marg6043


Well, we are witnessing that taxpayers are paying for recolonization of North Africa, Middle East, Central Asia and the Balkans, and... I dare not think further, but it is an open option.

Now that's karma!

Irene Is Now Expected To Pass Right Over Wall Street With 74-95 mph Winds

Gods we can believe in!

Come on God, SMITE THESE SCUMBAGS WITH ALL YOUR MIGHT!

But leave everyone that is not a banker of a politician safe... please?

Anyway, I bet Krugman and his followers are having a keynesian orgasm right now thinking of all the jobs this will create.

And I bet ``Bank of America`` will be ``solved`` during the week end... the hurricane is a perfect distraction... Will it be bailed out... or bought off is the only question left.

The European Dollar Funding Crunch Is Back: Fed Does Another $500 Million In USD Swaps This Time With The ECB

And now for some disturbing news out of the ECB, just in time for tomorrow's sub-1% GDP announcement and Jackson Hole disappointment. Unlike last week, when the Fed conducted a $200 million FX swap with the Swiss National Bank, this week the bank in dire needs of dollar funding is the ECB itself... and for two and a half times than last week. Furthermore, unlike last week, when we knew in advance that at least one European bank was experiencing a dollar liquidity event, this time the update from the ECB indicated no USD-based liquidity constraints: the $500 million in 7 day USD punitive loans quietly expired and everyone once again assumed that Eurozone liquidity is back to normal. It isn't.

Europe is in big trouble... very bullish for the US dollar. Until a big bank in Europe blows up and unravel the whole world economy.

reply to post by Vitchilo


Just another way to boost the numbers on the US GDP and people will believe it, GDP figures in the US are nothing but fraudulent way in which the government manufacture numbers to deceive the naive.

Any money that the government allocates even if is oversea or raising the debt ceiling is counted as positive in the GDP.

If people only knew.



BTW don't worry before the EU banks bring the US banks to its knees we the tax payer will be bailing them out without the need of France or Germany, after all we did it in 2008.

reply to post by marg6043


Yeah well bailing out Bank of America for example would cost a boatload of money... bailing out all the failed banks in Europe would cost several trillions.

But yeah Chairsatan is insane enough to do it.

In other news, tomorrow is a BIG day... GDP numbers release for Q3... probably sub-1%... around 0.7%... or so they are saying.

And Chairsatan ``QE3 or no QE3`` speech...

Tomorrow will be fun.

This week end shall be fun too, with the hurricane and the whole BAC situation...

reply to post by Vitchilo


Well BOA already is getting help by Buffet, but this not out of the kindness of his hart, remember that in 2008 one of the intuition he invested in got 95 billion of tarp money, so I "assume" that his money will be protected just like in 2008.

reply to post by marg6043


Yep, I would bet so too... after all, he did meet with Obama beforehand... so I bet Obama gave him assurances that if BOA continued to go down, he would bail it out... making BOA a ``sure investment``... Till of course he runs out of money.

Greece Activates Last-Ditch Liquidity Rescue Package To Preserve Its Financial System

As the Telegraph reports, "In a move described as the "last stand for Greek banks", the embattled country's central bank activated Emergency Liquidity Assistance (ELA) for the first time on Wednesday night."

"Although it was done discreetly, news that Athens had opened the fund filtered out and was one of the factors that rattled markets across Europe. At one point Germany's Dax was down 4pc before it recovered. The ELA was designed under European rules to allow national central banks to provide liquidity for their own lenders when they run out of collateral of a quality that can be used to trade with the ECB. It is an obscure tool that is supposed to be temporary and one of the last resorts for indebted banks."

The good news: Drachmas, which we hear are now trading on a When Issued basis with several banks, will be back in circulation very soon.

Yea Greece... one good thing will come out of this whole fiasco... the Euro will die! Win!

Federal Reserve Policy Mixed With Extreme Weather Has Put The World On A Fast Track To Revolution And War

Federal Reserve Policy Mixed With Extreme Weather Has Put The World On A Fast Track To Revolution And War.

There are many factors that clearly demonstrate why it would be disastrous for the Federal Reserve to repeat their vicious Quantitative Easing (QE) policy. If you want to know a significant reason why they cannot get away with another round of QE, here is an equation for you:

(Quantitative Easing + Extreme Weather = Revolution + World War III)

From the very beginning we knew that the Federal Reserve’s QE program was going to cause the cost of food to rise and the dollar to decline in value, and that these intended results would lead to an increase in poverty and civil unrest.

Yep... and this is what happened in the middle-east and in Asia...

In other words, if the Fed engages in another round of QE, the global unrest that they have already ignited will go hyperbolic.

Not only that, I'm watching the Asian situation for quite a while... and IMO if Bernanke does QE3, Taiwan's opposition party will win and China will invade Taiwan, leading us very close to WW3... or more likely, China taking over Taiwan, and the US military backing down... or taking a loss...

Tomorrow's speech could change history... and not for good.

reply to post by Vitchilo


Well if Greece falls, so the billions of tax payer dollars that went to the rescue in their last bailout, remember that it was mostly US funds that were in that bailout, while it seems like the US only keeps a quota in the IMF, the rest of the funds comes straight from the Federal reserve, where US have the privilege of keeping the rest of the money they fund to the IMF until needed.

So actually US donated no only 17% that is the quota as the biggest funder but a lot more than that as more funds were needed, that part of the whole IMF thing is kept out of the eyes and ears of America tax payers.

This tells you why in the world will the US wants to bailout Greece again, it most be a lot of US banks all the way to their neck in the Greece mess.

reply to post by Vitchilo


I don't think that we are heading for war, you know very well who funded the last two American wars, China, buying out our debt were the ones that made possible for the US to fund those two wars.

I don't think that the US will go into war for Taiwan. Private interest runs Washington and none of them will want to lose their big investments in China.

So no QE3... for now.

Maybe on September 20...

The markets shall be fun today and next week.

JP Morgan is Foreclosing on the US Treasury

Nice.

I think next week we'll see -650k+ jobs lost... then it'll cause a big ``crisis``... Obama will call for stimulus... which the republicans probably won't pass... then Ben will announce QE3 on Sept. 20.

reply to post by Vitchilo


That is sure to be "priceless, JP Morgan on the TREASURY?,AKA Federal Reserve?" but, but, but, hold your horses doesn't JP Morgan run the Federal Reserve? and the Federal Reserve runs the Treasury?

reply to post by marg6043


This is quite priceless.

Latest ``debt numbers``...

Debt for fiscal year starting October 1 2010 till August 25 2011 : 1.042 trillion or 3.1984 billion/day
Debt for calendar year 2011 till August 25 : 655.61 billion. 2.7762 billion/day
Current debt as of August 25 : 14.653 trillion
Current debt ceiling : 14.694 trillion (first phase) 15.194 trillion (second phase) 16.694 trillion (final phase)

At the current average rate of 2.987 billion in new debt/day (or about 9.64$ in new debt per day for every citizen in America...and that is just federal) it will take about 13 days before reaching the first phase of the debt ceiling hike, aka September 7 or so.

Xinhua

U.S. city of Houston dumps S&P rating
English.news.cn 2011-08-27 06:01:26

news.xinhuanet.com/english2010/world/2011-08/27/c_131077679.htm

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City dropping S&P as its investment-rating agency
Posted by chrismoran on August 26, 2011 at 10:54 am

blog.chron.com/houstonpolitics/2011/08/city-dropping-sp-as-its-investment-rating-agency/

The city of Houston will drop Standard & Poor’s as the rating agency for its investment portfolio as a result of getting downgraded earlier this month, said City Controller Ronald Green.

The rating only applies to Houston’s investments, not its debt, so it has no effect on the city’s borrowing costs, Green said.

(...)

Green said he has invited Fitch to town to look over Houston’s finances and rate the city’s investement portfolio at a slightly cheaper price than S&P charged.

He also did not resist a jab at S&P for blessing many of the mortgage-backed securities that failed when the housing bubble burst.

Houston was preceded by Los Angeles, which dropped S&P last week for the very same reasons, according to The Bond Buyer.