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6 Comments

    • ON: Wed Jan 30th 00:24 AM
      Commented on:
      My 2008 Predictions for Financial Catastrophe
      you have a very interesting forecast!

      My forecast:
      Bond insurers will be nationalized and the credit system restored with lots of stricter regulations.
      Lots of smart people with huge money in real etate and banks
      will set up corporations to hold foreclosers for slow release.
      Luckily there are plenty of people smarter than me who will
      find good/bad solutions to this mess until greed gets them again.
      The economy will weaken and markets will suffer greatly but
      will survive with the poor continuing to be poor and the rich etc blah
      blah blah.
      View article »
    • ON: Mon Jan 28th 23:46 PM
      Commented on:
      The 20 Largest Trading Losses in History
      During a tour in 2006, I read a local newspaper item in Southern China that reported hundreds of millions of losses to internal bank corruption in half a year. One could assume that in a FULL year they would find twice as much?
      But what about the ones they won't acknowledge or even find out??
      Funny how big money corrupts everyone everywhere.

      View article »
    • ON: Mon Jan 28th 23:09 PM
      Commented on:
      Rogue Traders and Economic Capital
      the bank's gaming licenses should be revoked!!

      wait a minute, they don't have a gaming license do they?

      I should have invested in casino stocks instead.
      View article »
    • ON: Sun Jan 27th 15:55 PM
      Commented on:
      The 20 Largest Trading Losses in History
      also
      Bre X Minerals 1997, 6 billion in market cap. wiped out. gold scandal;
      Parmalet 2003, at 17 billion ;
      World Com 2007 for financial mis statements;
      and the biggest
      ENRON over 31 biliion
      View article »
    • ON: Sun Jan 27th 15:31 PM
      Commented on:
      Who Is Jerome Kerviel?
      I think I see a trend:
      Jerome went long on futures; Amaranth was bullish on natural gas;
      Long Term Capital was bullish on Russian bonds; Yasuo (Sumitomo) was bullish on copper: A L L banks were bullish on ABCP, CDO, SIV,etc BUT only Goldman went short and profitted. Even they were not that smart, GS just had better risk controls.

      The trend is : too lose big money go long in a bear market.
      Seem like we're in the mother of all bear markets.

      David S. ---- I think you may see it correctly; this week's drop is only a false bottom caused by the too quick unwinding of the french position.
      Unfortunately it could be just a precusor to bigger problems.


      View article »
    • ON: Wed Jan 16th 21:26 PM
      Commented on:
      This 'Meltdown' Has Gone Mainstream
      ordinary people should demand that the gov't take over the banking sector. De-regulation has not worked. Every decade these bankers get in a big mess that the taxpayers bail out. They are habitual re-offenders and no longer to be trust with your money or the nation's economy. They constantly repeat their mistakes (bad loans due to greed) and each time it is worse. There is no consequence for them if they fail; they still get millions in pay or severance. Nothing will really change - Sarbane Oxley did not prevent this fiasco; we need
      a federal department.
      View article »
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