Markets are selling off just a bit on a Bloomberg report that the EU is considering allowing a 50% haircut on Greek debt, combined with a bigger backstop for banks and more ECB sovereign debt purchases. The July 21 agreement that was just ratified with so much fuss called for a 21% writedown. Stoxx 50 +0.9% after being 2% higher earlier.. [View news story]
A Greek newspaper reports private sector participation in the Greek debt swap at 75%, well less than the hoped for 90%. Greece has threatened to scuttle the 2nd bailout if the target isn't reached, but a finance ministry official, calling the process "ongoing," says it's too early to start talking percentages. [View news story]
Greece has the euro by the balls! Keep paying us or we will bring you down.
Is this the fact....fact is all they are doing is reducing the projected INCREASE in spending over 10 years. I am told that the spending in ten years could be as high as 25-30 trillion dollars. Is this a joke or a nightmare? Is this right?
Tremors, And the U.S. Government's Tragic Comedy [View article]
The majority of the masses listen and get their information from the daily news and politicians. They listen, choose and decide what is right from those sources. They have no interest in research or educating themselves on subjects such as the deficit. My state, California has big problems. The masses keep voting in the same people and all spending propositions. I am not sure the masses will wake up in time.
Fuggedaboutit Friday - Dip? I Didn't See No Dip? [View article]
People, you have not seen anything yet. Here in California you will probabley see our civil servants go balistic. Unions elect their bosses, (politicans) to get what they want. I have no idea about other states finanicials but we as a state are toast! And its not all unions fault. The people of california have been passing propositions after propositions, our illigal immigant problem adding to our debt. Just use your key board and google site to understand our plight! And yes, companies are leaving our once great state.
Why Are Insurance Companies Selling Municipal Bonds? [View article]
California is the most liberal state in the Union and if tax payers vote down the June tax increase look out below! I live in California and I am voting NO. The pension obligation is totally out of control. The law must be changed to go into bankruptcy, period. reason.com/archives/20...
Wells Fargo's 'Ongoing Internal Dispute' Over Financial Disclosure [View article]
Let me get this straight. I am supposed to believe that a BANK would try to cover something up, mislead or lie! NEVER! Bernanke just loves printing money and just loves giving it to his Banks for no reason at all!
Thank GDP It's Friday: Reality Cheque In Davos [View article]
Cramer told me not to listen to you! Buy, Buy, Buy!
Market recap: Stocks spiked near the close on another European rumor (already denied) - this one has the G20 considering a $600B IMF lending program - and as investors shrugged off the S&P's latest warning that it may downgrade the EU along with some big European banks. Crude oil futures slipped after a surprise rise in inventories. NYSE decliners slightly outnumbered gainers. [View news story]
Happy Holidays From Your Central Bankers [View article]
"This year is a stinker," Pimco's Bill Gross writes in an apology for the Total Return Fund's 2011 performance, which lagged 82% of peers with its 1.3% return. Sure, he blew this year's Treasury rally, but the new motto seems to be don't fight the Fed - he's Twisting out of short-term debt into longer-term issues. [View news story]
Markets are selling off just a bit on a Bloomberg report that the EU is considering allowing a 50% haircut on Greek debt, combined with a bigger backstop for banks and more ECB sovereign debt purchases. The July 21 agreement that was just ratified with so much fuss called for a 21% writedown. Stoxx 50 +0.9% after being 2% higher earlier.. [View news story]
A Greek newspaper reports private sector participation in the Greek debt swap at 75%, well less than the hoped for 90%. Greece has threatened to scuttle the 2nd bailout if the target isn't reached, but a finance ministry official, calling the process "ongoing," says it's too early to start talking percentages. [View news story]
China: All The Money In The World? [View article]
Rating for Godot [View article]
www.rushlimbaugh.com/h...
Rating for Godot [View article]
Tremors, And the U.S. Government's Tragic Comedy [View article]
Fuggedaboutit Friday - Dip? I Didn't See No Dip? [View article]
Will We Hold It Wednesday? - Doubles in Trouble [View article]
Why Are Insurance Companies Selling Municipal Bonds? [View article]
reason.com/archives/20...
Wells Fargo's 'Ongoing Internal Dispute' Over Financial Disclosure [View article]
Why $4 Gas Will Cause Less Pain This Time [View article]