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Illusional Delusion

Illusional Delusion
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  • CIT Group (CIT) up 115%, reportedly talking with J.P. Morgan Chase and Goldman Sachs about short-term financing of $2B-3B as it tries to stave off bankruptcy.  [View news story]
    It fell to 1c at one point. Not sure if that's an error, but its not corrected on Google Finance, so I assume its correct...Data error?
    Jul 17, 2009. 02:01 PM | Likes Like |Link to Comment
  • "In what some on Wall Street are calling the biggest blockbuster deal in the history of the financial sector, Goldman Sachs confirmed today that it was in talks to acquire the U.S. Department of the Treasury." (Borowitz Report)  [View news story]
    Just to make it legit...

    On Jul 16 12:21 PM herbert hoover wrote:

    > Why buy something you already own?
    Jul 16, 2009. 12:22 PM | 1 Like Like |Link to Comment
  • Bearish sentiment rises to almost 55%, its highest since March 5. Bulls, meanwhile, drop to 27.9% from 37.8%. Caveats: the data can at times be almost as fickle as the investors it tracks, and some see extremes as a contrarian signal.  [View news story]
    I would agree only when there is a breakout of sheer panic. Valuations does not reflect sheer panic yet.

    On Jul 09 03:10 PM Stone Fox Capital wrote:

    > very bullish signal. When investors are this bearish, people should
    Jul 9, 2009. 04:22 PM | Likes Like |Link to Comment
  • Economist Robert Frank discovers a Ph.D-powered economic perpetual motion machine. Mark Steyn explains: "The stimulus will work because enough economists are saying it will work that their prestigious postnominal credentials will impress enough of the masses into thinking it will work, which in turn will make it work." (via)  [View news story]
    Are the economics departments short staffed?
    Jul 8, 2009. 01:24 PM | 1 Like Like |Link to Comment
  • From ProPublica: An honest look at how much the AIG (AIG) bailout is really costing U.S. taxpayers.  [View news story]
    Indeed. Only 130B spread over 300M population paid to like...100 people?

    On Jul 07 09:09 PM herbert hoover wrote:

    > AIG only cost the taxpayers $130B. I wonder how much of that
    Jul 8, 2009. 12:02 AM | Likes Like |Link to Comment
  • The banking industry is mulling a "Harry and Louise"-style ad assault to sink Obama's proposed consumer financial products regulator. Joe Weisenthal anticipates an epic failure.  [View news story]
    I would have given a thumbs up if I actually think its written by an actual person. Unfortunately, too many repetitions...BOT!

    On Jul 07 08:30 PM gberg wrote:

    > Stimulus is a joke of a concept; it doesn't end up with real
    Jul 7, 2009. 11:56 PM | Likes Like |Link to Comment
  • The silver lining behind rising jobless numbers: "If politicians and establishment economists would simply leave the economy alone, today's painful stories of failure and unemployment would morph into tomorrow's stories of economic rebirth."  [View news story]
    Society brought many changes in leadership, from politics, business and economics in times of need, I'd call it evolution actually, pretty Darwinian, don't you agree? The problem we see right now is that the ones in power making the mistakes are unwilling to own up to it and correct it. If the leader says that some pain is needed to get us through without taking a dose of the often bitter medicine himself, I'd say that this politician or academic is not better than others that they denounce. Probably worse.

    On Jul 07 11:34 PM user344210 wrote:

    > Yeah, gee, because no one who was ever born anything less
    Jul 7, 2009. 11:52 PM | 2 Likes Like |Link to Comment
  • The world's wealthiest people are also the largest emitters of greenhouse gases, which is why a new study suggests basing targeted emission cuts on the number of rich people in a given country.  [View news story]
    Its not going to be useful to tax if they can forget to pay their taxes legally...
    Jul 7, 2009. 08:49 AM | 1 Like Like |Link to Comment
  • The extreme volatility that has gripped oil markets for the last year-and-a-half shows no signs of slowing down. Analysts say the instability could jeopardize a global recovery.  [View news story]
    Which in turn means that the monetary policies are the ones that could be the perpetrator...
    Jul 6, 2009. 04:53 PM | Likes Like |Link to Comment
  • Nothing Is Ever Truly 'Off the Books' in the Financial World [View article]
    As another human being, I think I know as much of what tomorrow will be as the guy on Wall Street...

    There are things at the fat tail of the possibility curves, and simply, most people don't look forward to them...

    On Jun 29 11:27 AM Leftfield wrote:

    > For years I've assumed Wall St. knew their business even as I
    Jun 29, 2009. 09:53 PM | Likes Like |Link to Comment
  • How to Sell TARP Warrants [View article]
    My thoughts exactly. If we are to maintain investor confidence by backing them up with taxpayer money, then it would be ridiculous not to act like normal investors when it comes to unwinding the rescue funds.

    On Jun 29 08:26 PM data wrote:

    > But what is the hurry with selling them? Why not keep them for
    Jun 29, 2009. 09:50 PM | Likes Like |Link to Comment
  • Clusterstock points to its chart of the day and suggests: Don't call a housing bottom until skyrocketing delinquencies start heading back to norms.  [View news story]
    Its the "new normal" mantra...recovery in dollar terms is all these people look for, not employment, not growth...Frankly, I have come to think any sort of growth seems to be good, even growth in unemployment and delinquencies...Is there a more sane planet I can live on?
    Jun 29, 2009. 09:47 PM | Likes Like |Link to Comment
  • John Tamny eviscerates Peter Mandelson's more regulation = stabler markets mantra.  [View news story]
    Proper regulation = Stabler Markets...Proper, not More.
    Jun 29, 2009. 09:45 PM | Likes Like |Link to Comment
  • As the SEC plans to shed the first glimmer of light on "dark pools" (private, opaque trading markets) likely by having them report monthly volumes, a debate continues over whether retail investors might still get left in the dark.  [View news story]
    IMO, there is no difference between cartels and government bodies, just that one acts on the side of the law and one tries to act outside of someone else's laws.
    Jun 29, 2009. 09:43 PM | 1 Like Like |Link to Comment
  • Ryan Lizza profiles FDIC head Sheila Bair - the unlikely hero to economic liberals who see her as the counterweight to the more Wall Street-centric Geithner - for The New Yorker. Noam Scheiber says the profile shows Bair's FDIC will be the odd regulator out. And John Carney says if not for Bair, Citigroup (C) would have gotten away with recapitalizing CDOs with tax dollars.  [View news story]
    If Bair runs for President, I'll vote for her!
    Jun 29, 2009. 09:41 PM | Likes Like |Link to Comment