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Market Sniper is a full time market trader. He predominately trades broad market ETFs, stocks, futures and options. He is a former Series 3 and Series 7 licensed broker with Dean Witter and then EF Hutton. He does a mixture of day trading and swing trading with few long term positions with the... More
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  • Who Is On The Other Side Of The Trade? 1 comment
    May 9, 2009 2:00 AM

    In the LONG litany of losers in the derivative melt-down and subsequent bailouts with taxpayers" money, I find it more than a little odd that no attention is being paid to who are the WINNERS in these "busted" trades. Who was on the otherside of the AIG losses was commented on only in passing. Perhaps it makes sense that Merrill Lynch was forced merged with B of A. Could it be that B of A had the largest postion vs. Merrill Lynch? Wash trades between them. Does not make sense to write a check to yourself. The talking heads in the media never address this issue and make it seem that the bailout money just "disappears" into some kind of black hole which is utter nonsense. Money going thru the front door of these losers is exiting the back door to the winners. Mostly on side bets to boot. At the center, Goldman Sacks, no doubt followed closely by Morgan Stanley and JP Morgan. Methinks some shadow trillionaires are being created. Too bad they will also be just stuck with paper in the end. Meanwhile, where is the outrage? The country is being pillaged, raped and looted.

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  • Plant the seeds
    , contributor
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    There is an international component to this especialy with Freddie & Fannie. There a lot of sovereign and governments that would have been very unhappy with a liquidation.
    1 Sep 2009, 11:57 AM Reply Like
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