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Jason Tillberg

 
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  • The stunning perfect-every-day performance of Goldman (GS), JP Morgan (JPM), BofA (BAC) and Citigroup (C) is "another triumph of the rigged-market theory," Jonathan Weil says. "How exactly do these banks’ trading divisions make money? However they did it... this isn’t the way 'trading' works in the real world."  [View news story]
    Tell me this quote from Andrew Jackson doesn't describe our banks today.

    Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves."
    May 13 10:50 AM | 12 Likes Like |Link to Comment
  • The stunning perfect-every-day performance of Goldman (GS), JP Morgan (JPM), BofA (BAC) and Citigroup (C) is "another triumph of the rigged-market theory," Jonathan Weil says. "How exactly do these banks’ trading divisions make money? However they did it... this isn’t the way 'trading' works in the real world."  [View news story]
    add Ireland to that list. www.youtube.com/watch?...#!
    May 13 10:20 AM | 4 Likes Like |Link to Comment
  • The stunning perfect-every-day performance of Goldman (GS), JP Morgan (JPM), BofA (BAC) and Citigroup (C) is "another triumph of the rigged-market theory," Jonathan Weil says. "How exactly do these banks’ trading divisions make money? However they did it... this isn’t the way 'trading' works in the real world."  [View news story]
    Andrew Jackson called them vipors and thieves. He routed them out.

    ... it's difficult to think the people of the world are not paying attention to this.. they know. The Icelanders know and the Greeks know.
    May 13 10:14 AM | 6 Likes Like |Link to Comment
  • Small businesses are being left out of TARP, says the Congressional Oversight Panel, and their credit availability is still seriously constrained. "Without these small businesses there will be no meaningful economic recovery."  [View news story]
    That has to be the idea.. oligarchy is only helping the rich while creating massive dependancy and bondage to the lower and middle classes. Getting America drunk as heck as consumers making them think the money tree will grow forever, don't need to save.

    I would have thought savings rate down because people simply can't afford to save, but then you look as sales at Macy's and that theory is out the window. Consumer junkies that fell off the wagon a year ago.

    Dependancy and bondage. ..not Liberty and abundance like we once had in this great country.
    May 13 08:55 AM | 4 Likes Like |Link to Comment
  • More finance-reform amendments: The Senate votes to ban mortgage-steering payments and to prohibit lenders from making loans without verifying a borrower's ability to pay from income and other assets.  [View news story]
    An hour late and a dollar short.
    May 12 10:53 AM | 3 Likes Like |Link to Comment
  • Spanish Prime Minister Zapatero says Spain will cut public-sector wages by 5% this year and freeze them next year, slash 13,000 public sector jobs, and cut investment spending and pensions in a drive to meet EU deficit targets. But Spain's biggest problem isn't government debt but an epidemic of bad private sector loans.  [View news story]
    The Austerity continues... Every $1 trillion they add to this debt burden, add another year of despair.
    May 12 09:19 AM | Likes Like |Link to Comment
  • Valuing the S&P 500: As-Reported Earnings Estimates [View article]
    As always, good looking out Doug! I fully expect those estimates to decline going forward as well.
    May 11 02:06 PM | 1 Like Like |Link to Comment
  • Regulators and stock exchange officials are considering the creation of a market-wide circuit breaker system for all exchanges to halt or slow trading during a massive market move, sources say.  [View news story]
    Glass Steagal and an end to HFT. It's as simple as that.

    Without that, get physical gold and silver as this paper money system is 99.99% doomed in my judgement.
    May 10 03:12 PM | 3 Likes Like |Link to Comment
  • Macy’s April Sales Climb, Ups Guidance [View article]
    So the US savings rate at 2.7% is not because Americans can't afford to save, but because they spending like drunken sailors and happy go lucky grasshopers.

    This is scary in my judgement.

    Never under estimate the idiocy of the American consumer.
    May 10 10:25 AM | Likes Like |Link to Comment
  • Obama officially nominates Elena Kagan to the Supreme Court. The choice is expected to face little resistance, but Kagan was once a paid member of a Goldman Sachs (GS) advisory group that was involved in an SEC civil suit.  [View news story]
    The same GS that makes more money and has greater success in the stock markets than Madoff??
    May 10 10:21 AM | 2 Likes Like |Link to Comment
  • The Obama administration wants to switch to more cost-effective metals in making pocket change, the WSJ reports, saving $100M annually in the process. But the effort is likely to stir up strong feelings, and there are concerns for small businesses like laundromats, which would have to retrofit machines for new coins.  [View news story]
    The soundness of a nations money in in direct proportion to the soundness of a nations government.

    Or the other way around..however you want to look at it.
    May 10 10:01 AM | Likes Like |Link to Comment
  • Equities trading is still volatile (and the FTSE finished its biggest weekly drop since Nov. 2008), but who knows how bad a freakout could be on if not for the calming rumor that the ECB may be planning a €600B one-year 1% loan facility for banks - not to mention the "nuclear option" of buying sovereign debt. There's intent listening for the next thing out of President Trichet's mouth. Euro -0.9% against dollar.  [View news story]
    Magic money trees are popping up all over the world.

    You know what happens to money that grows on trees right? It becomes as leaves do. Either bagged up and thrown away or chopped up and used as mulch. Ask the Germans.

    1 oz of common sense is suggesting you better own some gold and silver.
    May 7 01:26 PM | Likes Like |Link to Comment
  • Philadelphia Fed President Charles Plosser: The Fed is keeping an eye on Europe and especially Greece, which is a risk to a recovery on a "sustainable path." Inflation should be subdued near-term, but "I do not see much risk of deflation" and risks are to upside in the medium to long term. Sees economy growing about 3.5% this year and next.  [View news story]
    I've got 2% growth first half, - 2% second half... this includes stimulus.

    These guys are hopeless. The disintegration will continue.

    I live in NYS and we've got a monster budget problems everywhere.. LIRR layoffs, 100,000 state workers will be losing 1 days pay a week starting next week, ... the disintigration will continue. We don't even have a budget yet.. a complete and utter disaster.
    May 7 12:52 PM | 2 Likes Like |Link to Comment
  • CNBC: A human trading error at a major firm could have caused the market selloff.  [View news story]
    Perhaps the Algo's from the big 6 IBs simply took out all the stops, bought/stole the shares, and ramped the market back up again for their own gain?
    May 6 04:06 PM | 7 Likes Like |Link to Comment
  • A MC commenter explains today's plunge: "Big banks just sent a message to Congress to show them what will happen if they pass the financial reform bill..."  [View news story]
    That was indeed a very strange plunge and rebound..

    scary the powers behind this broken market.
    May 6 03:51 PM | 1 Like Like |Link to Comment
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