discov

Banking Won't Be Fun for a While

The new banks have not been de-leveraged. They are just moving their assets off balance sheet through the PPIP. They are posing as the private investors, getting more leverage from the Treasury and Fed, then buying their assets under another subsidiary name.

America is being impoverished by their banking government, and we still can't short the market at least not until we get a technical break of the current trend
concisetrading.blogspo...

Countrywide: Dogs Howling Over Bare Bones

yeah, I can't believe that financials have rallied. I am stocked up on puts for Jan. 2009, because I can't tell when it will all crumble for some of these guys.

I also noticed that Citi is being forced to buy back 5 billion of auction rate securities and pay a fine, due to their fraud. If a case like that goes against MER, or LEH. could be pretty disastrous.

concisetrading.blogspo.../
Ryan