helplessobserver

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+2 / 0

381 Comments

    • Wed Oct 8th 11:45 AM | Rating: 0 0
      Commented on:
      Dinallo: AIG Boondoggle Not Worst Idea Ever
      Well spoken vendi.
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    • Wed Oct 8th 11:41 AM | Rating: 0 0
      Commented on:
      The $60 Trillion Nightmare of Credit Default Swaps
      I can guarantee you if we get out of this mess, a)margin will be required by all writers, and b)buyers will have to own the the bonds they insure, and c)these contracts will be traded on transparent exchanges. As it started out, if you are a big bank no margin is required, others put up margin as required by the banks. Settling the LEH CDS obligations in a day or two may cause financial chaos, maybe this is why BA is trembling.
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    • Wed Oct 8th 11:12 AM | Rating: 0 0
      Commented on:
      First CDS Bullet Dodged, but Good Luck with Lehman on Friday
      Well, at least this is better than trying to track down the buyers and or sellers of these CDS obligations. The video is appropriate as many organizations will die when they cannot deliver the cash required for settlement and try simply to fade into the woodwork.
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    • Wed Oct 8th 10:46 AM | Rating: 0 0
      Commented on:
      WaMu Still Broke
      Join a Credit Union, no problem withdrawing money from them.
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    • Wed Oct 8th 10:41 AM | Rating: 0 0
      Commented on:
      Morgan Stanley Appears a Little Too Desperate for Cash
      Who in their right mind wants to own a balance sheet that is leveraged 30 to 40 to one and holding leveraged buy out loans that are in danger of default which are hedged by unreliable counterparties? Who ever authorized the leverage increase for investment banks killed the goose and the rest of us.
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    • Tue Oct 7th 11:32 AM | Rating: 0 0
      Commented on:
      Fuld's Miscalculation: Were Berkshire’s Infusion Terms “Too Much?”
      On TV Fuld looks more like a mafia enforcer than a top level investment bank CEO. Despite monstrous troubles he failed to cut his losses and get capital regardless of the cost.
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    • Tue Oct 7th 11:27 AM | Rating: 0 0
      Commented on:
      Fed's Unsecured Lending Plan Won't Work
      You are almost right. It will work for awhile. Nothing like free money to bolster bank earnings.
      View article »
    • Tue Oct 7th 11:19 AM | Rating: 0 0
      Commented on:
      @VIC: Bill Ackman on Wachovia
      A couple of observations:
      1. C is sick, sick and barely breathing, scaring the heck out of the everyone.
      2. Ackman made 1600 on his SATS and uses this demonstrated mental faculty to drill down into the minutiae of investments. He saw the immediate value to WB of the IRS new decision on tax loss carry forwards as a huge asset for WFC, who has profits to shelter. Anyone who has losses these carry forwards are worthless.
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    • Tue Oct 7th 11:00 AM | Rating: 0 0
      Commented on:
      BoA Cuts Off Countrywide ARMs to Save Body of Mortgages
      In normal times foreclosure keeps discipline in the mortgage market. These are not normal times so new procedures are required. I expect eventually many people will be kept in their houses with minimum and or token payments to keep the home from crumbling to debris. A hole in the roof and a basement turned into a cesspool will destroy value faster then taking a lower return on your investment.
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    • Mon Oct 6th 10:34 AM | Rating: 0 0
      Commented on:
      GGP Suspends Dividend in Attempt to Address Liquidity Concerns
      I wonder if these wonderkind MBAs ever learned that "borrowing short to lend long" is the technique for financial disaster. God knows the Savings and Loans industry found out it was untenable even with stable deposit capital at their disposal.
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    • Mon Oct 6th 10:20 AM | Rating: 0 0
      Commented on:
      Lehman's Lies
      If the charges of lies, misrepresentation etc. can be proven these executives will wind up in federal prison with the Enron and WorldComm liars. LEH issued $114 million of debt shortly before declaring bankruptcy so these holders along with a host of other victims will go to court and demand redress. Such fraud cannot be ignored, but the wheels of justice move slowly.
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    • Sun Oct 5th 20:38 PM | Rating: 0 0
      Commented on:
      Munis in the Crosshairs
      Yes, $3.2 billion has been reported in the press and BondGuy's post has reason to it.
      View article »
    • Sun Oct 5th 20:28 PM | Rating: 0 0
      Commented on:
      More Varying Effects On Main Street [Housing Tracker]
      Thanks Judy.
      View article »
    • Fri Oct 3rd 16:41 PM | Rating: 0 0
      Commented on:
      How Banks Hedge Counterparty Risk
      Another advantage to a bank is if the bond it holds is insured it can be claimed at a higher tier in list of capital assets. This one reason the debt insurance companies were propped up so long as the walking dead.
      View article »
    • Fri Oct 3rd 16:25 PM | Rating: 0 0
      Commented on:
      Get Your Banking Crises Straight
      In time it will become evident who will absorb the lending losses. For our part, we have already made our contribution. My wife's IRA $15k of WB stock traded last week at $0.91 for a loss of $14.7k. We've done our part to make good on the fraud committed by Golden West management and employees.
      View article »
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