Headlines...

NEW -> Contingent Buyer Assistance Program
[quote author="muzie" date=1221719499]Err, does thi smean the Fed's actually run out of money and is asking Treasury for more?</blockquote>
translation = the Treasury will be running the printing presses 24/7
 
[quote author="awgee" date=1204143666]They say, never way never, but I will never short GS.</blockquote>
Still feel the same about Goldman Sachs, awgee?
 
[quote author="Nude" date=1221729111][quote author="awgee" date=1204143666]They say, never way never, but I will never short GS.</blockquote>
Still feel the same about Goldman Sachs, awgee?</blockquote>


Oddly enough, I still think that Goldman Sachs and JP Morgan Chase will be the last two standing, and it has nothing to do with their balance sheets or cash flow. JPM probably has the worst balance sheet of the bunch and the most CDS exposure, but both JPM and GS are connected, and in the end I think the Federal Reserve is JPM and GS. Does this make sense?



For the Panda Challenge, I tried to go long puts on GS, but the order did not execute.
 
[quote author="morekaos" date=1221733714]The 4 Horseman of the Apocolypse. Bear Stearns, Lehman, Morgan and Goldman. Two down, two to go</blockquote>
You forgot about good old Merrill...the step child 5th horseman
 
[quote author="Nude" date=1221729111][quote author="awgee" date=1204143666]They say, never way never, but I will never short GS.</blockquote>
Still feel the same about Goldman Sachs, awgee?</blockquote>


Freakin GS! They have been golden all along, and now AIG drops the ball on the market. I bought GS in the panda challenge and took a huge hit. I think I might have to buy more GS because they are smart and short the right companies. They are prolly short JPM and Panda right now.
 
[quote author="graphrix" date=1221747526][quote author="Nude" date=1221729111][quote author="awgee" date=1204143666]They say, never way never, but I will never short GS.</blockquote>
Still feel the same about Goldman Sachs, awgee?</blockquote>


Freakin GS! They have been golden all along, and now AIG drops the ball on the market. I bought GS in the panda challenge and took a huge hit. I think I might have to buy more GS because they are smart and short the right companies. They are prolly short JPM and Panda right now.</blockquote>


Smart for shorting Panda? Not so much.
 
[quote author="morekaos" date=1221735892]I meant Morgan Stanley not JPM. I agree that at least JPM will make it. GS i dunno. BSC and LEH and AIG were also very well connected.</blockquote>


BSC had been the black sheep since LTCM. They did not join in and help along with all the other IBs and some commercial banks. JPM and others were just licking their chops at payback time.
 
Sept. 18 (Bloomberg) -- Morgan Stanley, the second-biggest independent U.S. securities firm, may sell a larger stake to China Investment Corp. and is in talks about a possible merger with Wachovia Corp., a person familiar with the matter said.



http://www.bloomberg.com/apps/news?pid=20601087&sid=ao0BD9Zuhy3E&refer=home



Three down one to go
 
Ugh, me and my big mouth. <a href="http://news.yahoo.com/s/ap/20080918/ap_on_bi_st_ma_re/wall_street_458">Wall Street Rumors of a second Resolution Trust Corp...</a>
 
[quote author="No_Such_Reality" date=1221792841]Ugh, me and my big mouth. <a href="http://news.yahoo.com/s/ap/20080918/ap_on_bi_st_ma_re/wall_street_458">Wall Street Rumors of a second Resolution Trust Corp...</a></blockquote>
My question is...how the FOCK will they value those assets they want to buy and will the banks be willing to take deeply discounted prices for them??? I hope they don't do this!
 
[quote author="usctrojanman29" date=1221794734][quote author="No_Such_Reality" date=1221792841]Ugh, me and my big mouth. <a href="http://news.yahoo.com/s/ap/20080918/ap_on_bi_st_ma_re/wall_street_458">Wall Street Rumors of a second Resolution Trust Corp...</a></blockquote>
My question is...how the FOCK will they value those assets they want to buy and will the banks be willing to take deeply discounted prices for them??? I hope they don't do this!</blockquote>


They are going to do it.



Discounted? Deeply? I doubt it. What good does it do the bank if they sell them at a discounted price?



Isn't the more important question; where will the Treasury Dept. get the money?



Hint: Wayne Angell, former federal reserve governor said today on CNBC, "The Federal Reserve has an infinite balance sheet."
 
[quote author="awgee" date=1221798427][quote author="usctrojanman29" date=1221794734][quote author="No_Such_Reality" date=1221792841]Ugh, me and my big mouth. <a href="http://news.yahoo.com/s/ap/20080918/ap_on_bi_st_ma_re/wall_street_458">Wall Street Rumors of a second Resolution Trust Corp...</a></blockquote>
My question is...how the FOCK will they value those assets they want to buy and will the banks be willing to take deeply discounted prices for them??? I hope they don't do this!</blockquote>


They are going to do it.



Discounted? Deeply? I doubt it. What good does it do the bank if they sell them at a discounted price?



Isn't the more important question; where will the Treasury Dept. get the money?



Hint: Wayne Angell, former federal reserve governor said today on CNBC, "The Federal Reserve has an infinite balance sheet."</blockquote>
They better build some more printing presses because they'll have to be working overtime. If they end up buying that garbage at anything more than 20-25 cents on the dollar I'll be pissed. I still don't see how this will solve the foreclosure item. Banks got greedy and got burned so they need some time to lick their wounds before they get greedy again.
 
[quote author="usctrojanman29" date=1221799776][quote author="awgee" date=1221798427]

Hint: Wayne Angell, former federal reserve governor said today on CNBC, "The Federal Reserve has an infinite balance sheet."</blockquote>
They better build some more printing presses because they'll have to be working overtime. If they end up buying that garbage at anything more than 20-25 cents on the dollar I'll be pissed. I still don't see how this will solve the foreclosure item. Banks got greedy and got burned so they need some time to lick their wounds before they get greedy again.</blockquote>
usc, you must have missed Schumer, Clinton, and Volcker all advocating different parts of the <strong>Renewed Deal?</strong>: Volcker <a href="http://online.wsj.com/article/SB122161086005145779.html">asks for a new RTC</a>, Clinton <a href="http://www.bloomberg.com/apps/news?pid=20601087&sid=afIu492CyWMw">asks for a new Home Owner's Loan Corp</a>, and Schumer <a href="http://www.bloomberg.com/apps/news?pid=20601087&sid=afIu492CyWMw">want an equity stake in every company in trouble</a>. Combined, this <strong>Renewed Deal?</strong> will not only keep banks and investment firms from having to eat bad investments, it will allow politicians to 'adjust' mortgages until people can afford the house where they currently reside, and put the Feds on the board of any company requesting any money from the government. Then they can sit back and claim they "fixed" things while collecting the vote of everyone they 'helped'. Of course, the 'help' will require a small tax increase to pay for it all, but at least we'll have government oversight of every last decision made in America.
 
[quote author="awgee" date=1221798427][quote author="usctrojanman29" date=1221794734][quote author="No_Such_Reality" date=1221792841]Ugh, me and my big mouth. <a href="http://news.yahoo.com/s/ap/20080918/ap_on_bi_st_ma_re/wall_street_458">Wall Street Rumors of a second Resolution Trust Corp...</a></blockquote>
My question is...how the FOCK will they value those assets they want to buy and will the banks be willing to take deeply discounted prices for them??? I hope they don't do this!</blockquote>


They are going to do it.



Discounted? Deeply? I doubt it. What good does it do the bank if they sell them at a discounted price?



Isn't the more important question; where will the Treasury Dept. get the money?



Hint: Wayne Angell, former federal reserve governor said today on CNBC, "The Federal Reserve has an infinite balance sheet."</blockquote>
Err...I saw Wayne Angell on CNBC last night too, does he really believe what he says or is he being sarcastic? Am I missing sth? Was I wrong to have the urge to choke him?
 
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