Mbuna's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/165225/comments http://seekingalpha.com/article/163851-are-banks-being-naughty-again-with-derivatives-could-be-good?source=feed#comment-696455 696455 Wed, 30 Sep 2009 02:20:52 -0400 http://seekingalpha.com/article/162726-in-defense-of-the-rating-agencies-once-again?source=feed#comment-688602 688602
So let me put it very simply and clearly- what you are advocating here is the massive fraud that has gone on be continued. You are even saying, somehow, that is necessary and good!? You even think you are completely sane saying this. I think you need to go to a rehab clinic of some kind because this is lunacy. In your view the law must kneel before the financial world out of necessity. You may know the bond market and its foibles but you have lost any vision of the bigger picture. Put down the financial crack pipe please.]]> Thu, 24 Sep 2009 04:13:31 -0400
So let me put it very simply and clearly- what you are advocating here is the massive fraud that has gone on be continued. You are even saying, somehow, that is necessary and good!? You even think you are completely sane saying this. I think you need to go to a rehab clinic of some kind because this is lunacy. In your view the law must kneel before the financial world out of necessity. You may know the bond market and its foibles but you have lost any vision of the bigger picture. Put down the financial crack pipe please.]]> http://seekingalpha.com/article/163081-the-beginning-of-the-end-of-meaningful-regulatory-reform?source=feed#comment-688599 688599 Thu, 24 Sep 2009 03:50:22 -0400 http://seekingalpha.com/article/162298-gold-what-professional-futures-traders-think?source=feed#comment-683199 683199
The IMF has just announced it will be selling 400 tons of gold a year for the next 5 years. The real reason behind this is to keep the price of gold down, and of course, they are doing this conspiracy with the usual central bank suspects. Their hand has been forced but it will not be enough. Take advantage while you can.]]> Fri, 18 Sep 2009 23:04:58 -0400
The IMF has just announced it will be selling 400 tons of gold a year for the next 5 years. The real reason behind this is to keep the price of gold down, and of course, they are doing this conspiracy with the usual central bank suspects. Their hand has been forced but it will not be enough. Take advantage while you can.]]> http://seekingalpha.com/article/162110-the-recovery-was-too-expensive?source=feed#comment-681598 681598 Thu, 17 Sep 2009 19:38:47 -0400 http://seekingalpha.com/article/159657-sure-its-legal-but-is-it-right?source=feed#comment-659238 659238
1. The bank bailout was not evidence of moral hazard so much as the demonstration that moral hazard and financial immorality has won the war. Everything that has happened since then is justifiable proof that is so.

2. The financial sector is at the apex of the pyramid but you must add in all the other massive corporate sectors that helped make this happen not the least of which is the mainstream media and its culture. Then you have all the lobbyists who at this point really run the show in Washington DC.

From my point of view the fat lady has sung and we are on the verge of beginning to see just what the consequences of all this are.]]> Wed, 02 Sep 2009 18:28:46 -0400
1. The bank bailout was not evidence of moral hazard so much as the demonstration that moral hazard and financial immorality has won the war. Everything that has happened since then is justifiable proof that is so.

2. The financial sector is at the apex of the pyramid but you must add in all the other massive corporate sectors that helped make this happen not the least of which is the mainstream media and its culture. Then you have all the lobbyists who at this point really run the show in Washington DC.

From my point of view the fat lady has sung and we are on the verge of beginning to see just what the consequences of all this are.]]> http://seekingalpha.com/article/151509-5-reasons-silver-etfs-will-remain-in-the-spotlight?source=feed#comment-605593 605593
www.gata.org/node/7586]]> Tue, 28 Jul 2009 16:32:55 -0400
www.gata.org/node/7586]]> http://seekingalpha.com/article/151509-5-reasons-silver-etfs-will-remain-in-the-spotlight?source=feed#comment-605577 605577
www.zerohedge.com/arti...]]> Tue, 28 Jul 2009 16:25:04 -0400
www.zerohedge.com/arti...]]> http://seekingalpha.com/article/151430-high-frequency-trading-we-fear-what-we-do-not-understand?source=feed#comment-604540 604540
Let's take a further look at what interests Kid Dynamite- "This is the main reason I'm against most attacks on high frequency trading. SOMEONE will always be the best - the fastest - the closest - ...", "I like competition in markets." Kid is a big poker fan, traded for a hedge fund, and demonstrates the kind of narcissistic attitude that has become all to common on Wall St. these days.
Clearly the game is what matters to him and nothing else. Now picture all those firms on Wall St. filled with these types of characters, happily gaming the system to the brink of its destruction and what do you have? The recent financial history of Wall St. is what you have. Kid Dynamite along with his Wall St. brethren (and squid friends) do not have the human maturity necessary to responsibly play the games they wish to play. They need to be collared, period.]]> Tue, 28 Jul 2009 00:11:58 -0400
Let's take a further look at what interests Kid Dynamite- "This is the main reason I'm against most attacks on high frequency trading. SOMEONE will always be the best - the fastest - the closest - ...", "I like competition in markets." Kid is a big poker fan, traded for a hedge fund, and demonstrates the kind of narcissistic attitude that has become all to common on Wall St. these days.
Clearly the game is what matters to him and nothing else. Now picture all those firms on Wall St. filled with these types of characters, happily gaming the system to the brink of its destruction and what do you have? The recent financial history of Wall St. is what you have. Kid Dynamite along with his Wall St. brethren (and squid friends) do not have the human maturity necessary to responsibly play the games they wish to play. They need to be collared, period.]]> http://seekingalpha.com/article/148612-unlocking-the-money-matrix-gold-price-suppression?source=feed#comment-587412 587412
www.scribd.com/doc/173...]]> Tue, 14 Jul 2009 10:51:33 -0400
www.scribd.com/doc/173...]]> http://seekingalpha.com/article/148641-gold-takes-a-dollar-drubbing?source=feed#comment-587398 587398
www.scribd.com/doc/173...

Now tell me what you think.]]> Tue, 14 Jul 2009 10:46:02 -0400
www.scribd.com/doc/173...

Now tell me what you think.]]> http://seekingalpha.com/article/130196-anticipating-armageddon-a-derivatives-flashback?source=feed#comment-457565 457565 Forced rehab is needed.]]> Thu, 09 Apr 2009 11:44:04 -0400 Forced rehab is needed.]]> http://seekingalpha.com/article/128390-exclusive-big-banks-recent-profitability-due-to-aig-scam?source=feed#comment-444750 444750
"US commercial banks lost $9.2bn on derivatives trades in Q4 08"

Have a read.
ftalphaville.ft.com/bl.../]]> Mon, 30 Mar 2009 02:25:06 -0400
"US commercial banks lost $9.2bn on derivatives trades in Q4 08"

Have a read.
ftalphaville.ft.com/bl.../]]> http://seekingalpha.com/article/128340-federal-budget-watch-same-old-talking-points-but-the-parties-are-reversed?source=feed#comment-444239 444239 Sun, 29 Mar 2009 14:01:19 -0400 http://seekingalpha.com/article/128319-don-t-ban-naked-credit-default-swaps-if-the-law-can-t-be-enforced?source=feed#comment-443844 443844
So here we have a multi-trillion dollar market that has grown from an artifice of financial engineering specifically designed to create a loophole in financial regulation which will then allow banks to increase their leverage.. Financial engineering of this sort ultimately serves only one purpose, greed, (while generally playing everyone else for a fool at the same time) and does not benefit the broader economy but only gives the illusion of doing so.. And the proof of that statement has already demonstrated itself, in spades. So here we are with huge bloated financial corporations that created tremendous fake earnings for years and now we finally see the financial sector, the emperor of the US economy with 40% of GDP, and its new clothes. It was and is an illusion and the desire to sustain this kind of financial sector will come to naught.


My view of the entire CDS market is that it is essentially nothing more than financial crack. The entire financial sector is completely addicted to something created out thin air to evade regulatory capital requirements, and they all think it is good for the economy!? They are all a bunch of ADDICTS hooked on this financial crack. Everyone I have read that defends CDS strikes me as an addict. And yes Geithner is hooked on it too. From where I stand, the Fed, the Treasury and Wall St are somehow hoping to turn the US economy back into some giant gambling casino when in fact they are addicted to an illusion that will never bear fruit. The entire CDS market should just be shut down, period.
Start from a position of sanity rather than addiction- the financial sector exists to facilitate the lending of capital for the broader economy. The financial sector itself IS NOT THE ECONOMY. You will never ever see the financial sector sustain 40% of GDP in reality because the broader economy cannot support it. It was a house of cards that was never real. What really has to happen is that the entire sector needs a very serious downsizing. ]]> Sun, 29 Mar 2009 06:00:44 -0400
So here we have a multi-trillion dollar market that has grown from an artifice of financial engineering specifically designed to create a loophole in financial regulation which will then allow banks to increase their leverage.. Financial engineering of this sort ultimately serves only one purpose, greed, (while generally playing everyone else for a fool at the same time) and does not benefit the broader economy but only gives the illusion of doing so.. And the proof of that statement has already demonstrated itself, in spades. So here we are with huge bloated financial corporations that created tremendous fake earnings for years and now we finally see the financial sector, the emperor of the US economy with 40% of GDP, and its new clothes. It was and is an illusion and the desire to sustain this kind of financial sector will come to naught.


My view of the entire CDS market is that it is essentially nothing more than financial crack. The entire financial sector is completely addicted to something created out thin air to evade regulatory capital requirements, and they all think it is good for the economy!? They are all a bunch of ADDICTS hooked on this financial crack. Everyone I have read that defends CDS strikes me as an addict. And yes Geithner is hooked on it too. From where I stand, the Fed, the Treasury and Wall St are somehow hoping to turn the US economy back into some giant gambling casino when in fact they are addicted to an illusion that will never bear fruit. The entire CDS market should just be shut down, period.
Start from a position of sanity rather than addiction- the financial sector exists to facilitate the lending of capital for the broader economy. The financial sector itself IS NOT THE ECONOMY. You will never ever see the financial sector sustain 40% of GDP in reality because the broader economy cannot support it. It was a house of cards that was never real. What really has to happen is that the entire sector needs a very serious downsizing. ]]> http://seekingalpha.com/article/128267-big-vs-little-bigger-banks-aren-t-better?source=feed#comment-442992 442992
www.theatlantic.com/do...

Intro from the Atlantic-
The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time.]]> Fri, 27 Mar 2009 19:32:38 -0400
www.theatlantic.com/do...

Intro from the Atlantic-
The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time.]]> http://seekingalpha.com/article/128099-what-else-are-the-banks-hiding?source=feed#comment-441841 441841

On Mar 26 10:44 PM MattZN wrote:

> The media tends to focus only on the negative aspects of the banks.
> They don't seem to be able to spend even 10 minutes reading a 10-K,
> so most people never hear about the positive aspects., etc.
>
> ]]> Fri, 27 Mar 2009 00:23:17 -0400

On Mar 26 10:44 PM MattZN wrote:

> The media tends to focus only on the negative aspects of the banks.
> They don't seem to be able to spend even 10 minutes reading a 10-K,
> so most people never hear about the positive aspects., etc.
>
> ]]> http://seekingalpha.com/article/127904-my-response-to-soros-views-of-cds?source=feed#comment-440602 440602
" Banks actually worked before CDS's were around. This is just addict talk on many levels because CDS's are an artificial inducement into the market. Financial engineering of this sort ultimately serves only one purpose, greed, (while generally playing everyone else for a fool at the same time) and ultimately does not benefit the broader economy. And the proof of that statement has already demonstrated itself, in spades. When you can financially engineer a product whose purpose is obviously broad over many sectors of the economy I'll listen. Otherwise this is just a C(rack)DS addict scheming for his next hit using technically sophisticated language about how wonderfully the drug works. Ultimately it is a lie. "

The logic of CDS is exponentially vertical and it is this quality that makes it financial crack. Those who are hooked will insist on how essential it is that this market continue, what wonderful insurance it is, can demonstrate incredibly arcane computer models of risk that demonstrate its viability. But all I see are addicts sizing up another way to make a buck and get their high from it. It's ultimately a fake addition to the economy and I think it should be shut down.]]> Thu, 26 Mar 2009 05:06:23 -0400
" Banks actually worked before CDS's were around. This is just addict talk on many levels because CDS's are an artificial inducement into the market. Financial engineering of this sort ultimately serves only one purpose, greed, (while generally playing everyone else for a fool at the same time) and ultimately does not benefit the broader economy. And the proof of that statement has already demonstrated itself, in spades. When you can financially engineer a product whose purpose is obviously broad over many sectors of the economy I'll listen. Otherwise this is just a C(rack)DS addict scheming for his next hit using technically sophisticated language about how wonderfully the drug works. Ultimately it is a lie. "

The logic of CDS is exponentially vertical and it is this quality that makes it financial crack. Those who are hooked will insist on how essential it is that this market continue, what wonderful insurance it is, can demonstrate incredibly arcane computer models of risk that demonstrate its viability. But all I see are addicts sizing up another way to make a buck and get their high from it. It's ultimately a fake addition to the economy and I think it should be shut down.]]> http://seekingalpha.com/article/127865-should-healthy-banks-give-back-their-tarp-funds?source=feed#comment-440157 440157 Wed, 25 Mar 2009 16:29:31 -0400 http://seekingalpha.com/article/127856-rescue-vs-reinvention-for-newspapers-or-banks-bailouts-reinforce-status-quo?source=feed#comment-440140 440140 Wed, 25 Mar 2009 16:18:14 -0400 http://seekingalpha.com/article/127846-congress-shortsighted-about-financials?source=feed#comment-439985 439985 When it comes to money and government politics always comes first.
When it comes to money and the member of Congress money always comes first.]]> Wed, 25 Mar 2009 14:45:53 -0400 When it comes to money and government politics always comes first.
When it comes to money and the member of Congress money always comes first.]]> http://seekingalpha.com/article/127682-u-s-credit-debt-1929-2008-by-sector?source=feed#comment-439094 439094
]]> Wed, 25 Mar 2009 00:08:42 -0400
]]> http://seekingalpha.com/article/127665-dollarization-arrested-development?source=feed#comment-439000 439000
Seeing as how there is no replacement for the dollar or the US economy on the world horizon I have a hard time discerning exactly how this going to play out altogether. But I am sure it's not going to look pretty.]]> Tue, 24 Mar 2009 21:53:01 -0400
Seeing as how there is no replacement for the dollar or the US economy on the world horizon I have a hard time discerning exactly how this going to play out altogether. But I am sure it's not going to look pretty.]]> http://seekingalpha.com/article/127683-paul-volcker-sounds-off?source=feed#comment-438991 438991 Tue, 24 Mar 2009 21:44:18 -0400 http://seekingalpha.com/article/127399-did-cds-cause-all-the-world-s-ills-confronting-the-crisis-backlash?source=feed#comment-437696 437696
Geez, haven't we seen the result of this already? Why on earth would anyone want to go back there? Addiction perhaps? Banks actually worked before CDS's were around. This is just addict talk on many levels because CDS's are an artificial inducement into the market. Financial engineering of this sort ultimately serves only one purpose, greed, (while generally playing everyone else for a fool at the same time)and ultimately does not benefit the broader economy. And the proof of that statement has already demonstrated itself, in spades. When you can financially engineer a product whose purpose is obviously broad over many sectors of the economy I'll listen. Otherwise this is just a C(rack)DS addict scheming for his next hit using technically sophisticated language about how wonderfully the drug works. Ultimately it is a lie.]]> Tue, 24 Mar 2009 04:14:34 -0400
Geez, haven't we seen the result of this already? Why on earth would anyone want to go back there? Addiction perhaps? Banks actually worked before CDS's were around. This is just addict talk on many levels because CDS's are an artificial inducement into the market. Financial engineering of this sort ultimately serves only one purpose, greed, (while generally playing everyone else for a fool at the same time)and ultimately does not benefit the broader economy. And the proof of that statement has already demonstrated itself, in spades. When you can financially engineer a product whose purpose is obviously broad over many sectors of the economy I'll listen. Otherwise this is just a C(rack)DS addict scheming for his next hit using technically sophisticated language about how wonderfully the drug works. Ultimately it is a lie.]]> http://seekingalpha.com/article/127289-why-i-think-paul-krugman-is-wrong?source=feed#comment-436179 436179
Overall this just seems like trying to buy time and does not solve the problem. And I also think it is doubtful that trying to buy time helps the issue.

From my viewpoint there is far too much cronyism between the Fed, the Treasury, and Wall St. for any good to come of this. Geithner and Summers I think are too beholden to what got us in trouble in the first to be able to have the vision to get us out. They are clearly playing politics first and trying to be effective second. There is ZERO transparency here. As I said in another post- are Geithner and Summers merely unwitting pawns in the entrenched Wall St. feudal system where Goldman Sachs gets a cut of everything and the financial sector is the god that must be eternally bailed out?

Wall St. continues to run the country be default , literally. The AIG bailout (the bonuses were a distraction) stinks to high heaven. If anything Geithner has only added fuel to the idea that Goldman Sachs is continuing to run the Treasury for 3 administrations in a row. Where is the transparency promised?

]]> Mon, 23 Mar 2009 05:16:27 -0400
Overall this just seems like trying to buy time and does not solve the problem. And I also think it is doubtful that trying to buy time helps the issue.

From my viewpoint there is far too much cronyism between the Fed, the Treasury, and Wall St. for any good to come of this. Geithner and Summers I think are too beholden to what got us in trouble in the first to be able to have the vision to get us out. They are clearly playing politics first and trying to be effective second. There is ZERO transparency here. As I said in another post- are Geithner and Summers merely unwitting pawns in the entrenched Wall St. feudal system where Goldman Sachs gets a cut of everything and the financial sector is the god that must be eternally bailed out?

Wall St. continues to run the country be default , literally. The AIG bailout (the bonuses were a distraction) stinks to high heaven. If anything Geithner has only added fuel to the idea that Goldman Sachs is continuing to run the Treasury for 3 administrations in a row. Where is the transparency promised?

]]> http://seekingalpha.com/article/127261-added-debt-won-t-rescue-the-great-american-ponzi-scheme?source=feed#comment-436172 436172 (I especially liked the graph of deposits in failed banks as a % of nominal GDP.)]]> Mon, 23 Mar 2009 04:23:28 -0400 (I especially liked the graph of deposits in failed banks as a % of nominal GDP.)]]> http://seekingalpha.com/article/127278-there-s-revolution-in-the-air?source=feed#comment-436168 436168
I agree here on the class warfare Felix. I'm ready to go get my pitchfork. Here's a good question to ponder- when was the last time you saw a CEO of a major corporation exhibit humility? And then ask yourself how bad will it have to get before one actually does so, like on TV. That will tell you how far, far away we are from any resolution on this economic and financial crisis.

Wall St. is still running the country by default, literally. I wonder if Geithner and Summers are just the unwitting, unconscious pawns of the seemingly newly entrenched Wall St. feudal system, where Goldman Sachs must get a cut of everything and the financial sector is the god who must be eternally bailed out. (And you thought paganism was a thing of the past.)


]]> Mon, 23 Mar 2009 04:07:20 -0400
I agree here on the class warfare Felix. I'm ready to go get my pitchfork. Here's a good question to ponder- when was the last time you saw a CEO of a major corporation exhibit humility? And then ask yourself how bad will it have to get before one actually does so, like on TV. That will tell you how far, far away we are from any resolution on this economic and financial crisis.

Wall St. is still running the country by default, literally. I wonder if Geithner and Summers are just the unwitting, unconscious pawns of the seemingly newly entrenched Wall St. feudal system, where Goldman Sachs must get a cut of everything and the financial sector is the god who must be eternally bailed out. (And you thought paganism was a thing of the past.)


]]> http://seekingalpha.com/article/127158-the-economy-on-dope-investors-fear-inflation-embrace-gold?source=feed#comment-434939 434939 Sun, 22 Mar 2009 05:24:07 -0400 http://seekingalpha.com/article/127113-current-popular-argument-against-aig-bonuses-takes-the-wrong-viewpoint?source=feed#comment-434932 434932
www.rollingstone.com/p...

And yes Goldman would have failed, beyond a shadow of doubt- not just because of the financial hit they would have taken but the hit that the revelation of their exposure would have done them in. These institutions are so corrupt I say let em all fail. Start fresh.]]> Sun, 22 Mar 2009 04:51:20 -0400
www.rollingstone.com/p...

And yes Goldman would have failed, beyond a shadow of doubt- not just because of the financial hit they would have taken but the hit that the revelation of their exposure would have done them in. These institutions are so corrupt I say let em all fail. Start fresh.]]>