Serge Birbrair

The Stress Test's Biggest Loser: GMAC

Alex, thanks a bunch! I am ashamed to have GMAC bonds and no clue what exactly they are. I do now, thanks to you.

The Stress Test's Biggest Loser: GMAC

Alex, I thought GMAC is GM's subsidiary, no?

The Stress Test's Biggest Loser: GMAC

How will the GM bankruptcy affect GMAC bondholders?
news.yahoo.com/s/ap/20...

Auction Rate Securities: Who's To Blame?

Like I said and 30 seconds ago Andrew Cuomo confirmed it:
His office represents the PEOPLE (us)

As far as penalty rates are concerned,
Michael, some of the current penalty rates are LOWER than they were prior to Feb 13th. Andrew Cuomo returns confidence into the market place and billions of dollars as well. When I get my money back, I'll buy real estate FOR CASH and us, the redeemed investors, will stop the slide of the housing market.

All well what ends well and I glad you taking this lesson in ARS in stride.

Auction Rate Securities: Who's To Blame?

Michael Steinberg, Cuomo, who is indeed very sympathetic to the banks and not investors, per your story,
invites more bankers to settle with investors he has no sympathy for, according to your fairy tale.
For your reading pleasure:
www.bloomberg.com/apps...

I hope you don't have anything against real journalists who do their due diligence.

Auction Rate Securities: Who's To Blame?

Michael Steinberg, do you have proof that Attorney Generals have no sympathy for investors or is it hearsay? I don't want to be "lolled into complacency" and I am questioning your expertise on the subject.

How could investor know that investor was buying the long term bond when no prospectuses were offered and the only information investor could rely upon were:
words of their brokers
published materials by brokerage companies telling them that the investment was "Cash Alternative"?

I appreciate your Monday Quarterbacking, but I see no substance in your post whatsoever.

There is a poll going on if you are incompetent or just enjoy your pontifications, stay tuned, we'll know by the end of the day from investors.
nothingcontroversial.c...

Have a nice day and do me a favor, do some due diligence before you write your next "well informed" opinion.

P.S. when you get the proof about the alleged positions of AG's we, the investors, are in the constant contacts with - please feel free to post them here for all to see how right you were.

All - this will be a very long wait, bring your pop corn and folding chairs.

Counterparty Risk Management: How Could So Many Be So Wrong for So Long?

The bankers have tremendous leverage with issuers.

Who the hell will underwrite the next muni-etfPreferred-Stud... issue if all major bankers say NO?

Those who need capital need bankers to raise this capital. I see them falling to bankers pressures next, as now it's not our but bankers money on the line.


Right now this is our money on the line, after UBS buys ARS they sold fraudulently to us from us, this will be their money and their pressure on the issuers. They'll do fine and make some in refinancing fees.

How Deceitful Are the Big Banks?

Burt, if I was long LEH, I'd be touchy too. Have you ever heard of shorting the stocks instead of buying them?

How Deceitful Are the Big Banks?

Burt,
If A equals B and A equals C,
B=C

Financials of major Investment Banks you can find in this chart made by St Louis Federal reserve:

research.stlouisfed.or...


Bill, don't be afraid to generalise, the truth is scarrier than we all can imagine.

I double dog dare everybody to find scarrier chart in their lifetimes.

How Deceitful Are the Big Banks?

You don't say....
UBS and it's "cowboy style" banking makes it the best run bank in the world:
www.nothingcontroversi...

Citigroup's Flush

I am glad you mentioned Enron. There is another storm brewing -
the class action lawsuits connected to ARS (Auction Rate Securities).
This write down will be bigger than Enron related write downs.

Wait 'til all those stories parade thru courts
www.nothingcontroversi...

Retail Investors Stuck Holding Auction Rate Securities

I am looking forward to the next Attorney General willing to throw the Martin Act the brokerage houses and put a few perps in prison.
www.nothingcontroversi...

This is a swindle of the century. Time to clean the house.

UBS Plan Could Be the Road Map for Financials

Todd, UBS has more illiquid assets besides subprime mortgages.

What about illiquid ARS they have in their own acounts?

What about ARS they are about to purchase for their mutual funds?
www.nothingcontroversi...

A Bank Led, Bank Insurer Bailout?!

The article is brilliant and the analogy with Florida is right on the money.