I just spotted a tidbit in FT: "More than two dozen feeder funds held more than $20bn with Mr Madoff, tarnishing the reputation of some of the biggest private banks and hedge fund specialists, as well as Santander, the Spanish bank. Operators of the feeder funds included some big names in fund management, including Union Bancaire Privée, the Swiss private bank, Tremont, owned by OppenheimerFunds, the US asset manager, and Pioneer Alternative Investments, part of Italian bank Unicredit."
My emphasis. What financial arsonist do we know who works for Oppenheimer ?
On another matter, again from FT: "Russia has won $25bn in loans from China in return for agreeing to supply oil from new fields in eastern Siberia for the next 20 years as Moscow seeks funds to see its oil industry through the financial crisis. ... But analysts warned that Russia could have to divert crude supplies headed to the west in order to meet the terms of the deal as it faces a deepening decline in production this year. “There is no way Russia can deliver that amount of oil right now without taking it away from existing export routes to the west,” said Chris Weafer, chief strategist at Uralsib investment bank in Moscow. "
I expect more Chinese opportune investments to secure supplies of resources.
Hmmm ... I also note they are not making grandiose (delusional) plans to invest in "Green" energy.
Another fraud emerges (WSJ): "The Securities and Exchange Commission charged Texas financier R. Allen Stanford with an $8 billion fraud, alleging in a civil complaint that he lured investors with promises of high returns on certificates of deposit but poured their money into a "black box" of hard-to-trade assets."
Markets
Don't bet the farm on these market lows holding. The bears are going to bust them open to look for new sellers lower. They have big short positions to cover and need real sellers.
PS: Why does anyone listen to Elmer anymore ?
Word of the Day
"Puissance" - noun and adjective [$10]
Puissance means (noun - archaic) strength, power; (adjective - literary) having great power or influence, mighty.
Sentence: When will the Obama realize the presidency requires puissance, not pusillanimity.
Le Mot du Jour
"Relancer" - verb, transitive - regular -er verb with the 'c' becoming 'ç' in 1st person plural and before an 'o' or an 'a'.
Relancer means 1. to throw back (again) (+ an object); 2. to start again, to revive; 3. to boost, to stimulate.
La Phrase: Hier Obama a singé son plan qui devrait relancer la machine economique.
Sentence: Yesterday Obama signed his plan that should stimulate the economic machine.
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http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.1068.IH:
terrible...............barack obama and his party are gonna destroy this country
It won't pass. Boob bait for the leftist bubbas. They propose these bills to have a forum to raise money from stupid followers.
The right does it with flat tax proposals.
If the taz goes through, are you hiring workers at the bunker estates? I could send you a resume....
Rendell...The American people like the fact that he's taking action....even if its not the right action
Rendell...are you the worst???...I think so
Good news for you Bunkerman....Greenspan said stocks are "very cheap"....he has really good timing :)
actually I am thinking of hiring someone to do things around here ...
early thought stages.
Oh come on now, we've known for awhile that Elmer reads this blog.
"The bill is not perfect...But we don't have time to make it perfect...I have a pickup basketball game tonight at the YMCA"
I love dogs(more than people)...make a helluva Rocktini,can build anything,never met a gun I didnt like,respect anybody that takes care of their mom,own a plow,could eat MCD every day,in general,travel to NY 4 times a year,believe that people who learn new words and language are an inspiration......lool
tha tbankruptcy cramdown provision will kill mortgage lender except FMNA, etc.
It basically eliminates the collateral.
Jumbo loans will end, except perhaps 50% LTV.
luckily joe torre jr. doesnt have to worry about such a tax...
"99% cash indeed"
somebody tell jt jr TGT has 42 " Phillips $648...open a TGT credit card....10%0ff that
house boy indeed...Mrs B would dig the frostman.
I believe jt jr also took steroids, just like Arod....what say you Bud?
'I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.'
A case of rocks to whomever names the author of the quote...no googling
those who watched Adams HBO special would know
I don't know who said it, but they were proved wrong by events.
My guess is Jefferson - he was very against Hamilton's bank.
Would not be Jackson, since the Bank of the United States had existed awhile and he killed it. After that, small private banks multiplied everywhere until the Civil War.
Well done Bunk...well done
may I recommend "American Lion" as I know you are a fan of Jackson....
shhhhhhh...Johnny Rhetoric speaking
Kim Jon Barry!!!!! WE LUV YOU OH GREAT LEADER...SEE YA MAY DAY PARADE
Mern on the snipe hunt...cry baby bs nononono go...kill them all.
rofl Spin.
Thanks mfl - just ordered it.
is Palin on the snipe list?
"take responsibility".....lmaoooooooooooooooooooo
WE WILL ALL WEAR DENIM BLUE JUMPSUITS...CREATING 10,000 VFC JOBS
TRADERS...WE WILL FIX YOUR AZZ AS YOU CONTRIBUTE TO THE STATE TO FIX OURS!!!
GS partners must read this blog.
MVP MVP MVP
WORK ALL WEEK FOR YOUR STATE,,,ON FRIDAY YOU BE GIVEN A VOUCHER..EXCHANGE THAT VOUCHER ON SATURDAY WHERE YOU'LL BE GIVEN YOUR JUMPSUITS AND FOOD RATIONS....
At age 11, Bernanke won the state spelling bee competition but finished 26th overall at the national competition in Washington, faltering on the word “edelweiss.” Bernanke also taught himself calculus, edited the school newspaper, and achieved a near-perfect SAT score of 1590 out of 1600.[9] He was also an All-State saxophonist, playing in the school’s marching band.[
THE GREEN LINE IS FOR JUMPSUITS
THE BLUE LINE IS FOR RATIONS
IF YOU'RE IN THE BLUE LINE AND ASK FOR JUMPSUITS THINKING THE GREEN LINE WAS FOR WATER...YOU'VE MADE A GRAVE MISTAKE....AND WE WILL BE EXTERMINATED
lmaoooooo spin
U S S A!!!! U S S A!!!
aazzhead failed to make the spelling b team when he misspelled his name on the application...taught himself to count by tapping his foot in the men's room...can belt out mean rendition of the slobber blues on the meathorn...seperated at birth.
I think so
Spin, one can buy Soviet Army choral music that is really pretty good - of course I have it already.
lol:
CNBC reports Meredith Whitney is leaving Oppenheimer to start her own firm
The hubris .... the hubris ...
oh man...I gotta get my resume together....
Hmmm
YOU ARE NUMBER 6 ...
I AM NOT A NUMBER, I AM A FREE MAN ...
HAHAHAHAHAHAHA
Great series - just bought the DVDs.
Dear Spin
I can't describe in words how much your support means to me. I will never forget that you have always stood behind me. In fact, to show my appreciation, i will hit 2 home runs over left field for you on opening day.......you know......cuz i am MrApril.......i can do whatever in want in april. (Sorry-no home run in october.....but i can strike out with the bases loaded if you want.) Love you.
Now and forever, your favorite yankee
A-fraud
CNBC reports that several GS partners had leveraged GS stock to buy alternative investments, and are now being forced to borrow money to cover margin calls following stock declines. Says GS is now in the awkward position of making margin calls on their own partners, who can't meet those margin calls.
...
Brilliant - margin debt to buy "alternative investments"
sheesh. Financial geniusus.
that's so pathetic on GS partners ..........they get the special deals ............and they still lost
huh????
Bunkerman perhaps you should liquidate some of the Obama Fund and give the proceeds to Meredith to invest for you....
buddy quiet all day losin his azzzzz
Has anyone seen ARod's cousin?
come on spin...........that was funny......you know it!!
PS.........nah.......just so depressed over the trader tax.......couldn't sleep last nite after i read it
I think giving the Obama Fund to the Fido Fund or maybe to Mrs. B would be smarter.
Molotov Meredith will flame out soon.
Hello Steve Carlton???...Freddy Wilpon here...Hows the arm??..feel like pitchin...now I cant pay you in $$$..how bout all the Utica Club you can drink??
lmaoooooooooooooooo....I saw the cousin thing this morning..omg...funny as balls....we just so ig-nornnt
Bud stop letting "jim" get in your head with this tax....this is America baby!
send Norma Rev union dues ever month..sleep like a baaaaaaaaby
Forget About Chart Setups...thanks jim...nonono trader tax if you never trade...beat the system indeed.
they should enact a transaction tax on credit card swipes....then and only then would "jim" be in trouble
Trust
Revy
Azzhole
Dupes
Every
Rube
Thanks
Again
Xoxo
thats really funny mister Leo! MVP vote for u.
ya, palin high on snipe list.
to bud
terrible...............barack obama and his party are gonna destroy this country.
dude, the country was already ruined when barry took office.
i like the way slick willy says that he is not one bit responsible for this mess, but signed the repulsion of Glass Steagal in 95.
i was 24, and thought it was a bad idea. freshly out of college, studied the SEC acts of 33 and 34 lots. i quickly wondered y were getting rid of those laws. and of course, humans being humans, we did the samething, again. only this time, we supersized the financial blow up.
i dont like hearing barry tell me, that i have to pay for others stupidity. y have i been so fiscally conserative my whole life?
bman, thoughts on selling some dollars and buying some swiss francs, for the long term, like 3 to 10 yrs?
tia
snipe hunter or long term inwestor...I'm so confused...die jigaboooomovers die.
I prefer gold to Swissies.
i like silver more than gold.
i dont see demand destruction for silver under 20
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