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  • Goldman Sachs' (GS) pitchbook for the $2B Abacus CDO - full of references to ACA Management personnel, but not a Paulson in the bunch. Meanwhile, Goldman reportedly kept quiet that it was warned nine months ago that investigators wanted to bring a case. (yesterday)  [View news story]
    And that is the BIG setup.
    Apr 17 02:59 PM | 1 Like Like |Link to Comment
  • What We Won't Get From Sunday's Healthcare Vote [View article]
    Charity hospital exist man. Anyone who choses to forgo insurance, or who should't be in this country in the first place get free care. There, the tort system works at will against the states, cities and doctors. The Lawyers operate and make far more that the docs. Brilliant.
    Mar 21 08:19 PM | 6 Likes Like |Link to Comment
  • Curious reporters from the Planet Money podcast pool their cash to buy a piece of a toxic asset - and plan to track it, like a Tamagotchi-style pet, until it dies.  [View news story]
    A mortgage-backed asset (toxic) contains certain mortgages. So, homes owned outright, which don't have a mortgage, don't at all relate to the value of mortgage backed securities (toxicity).
    Mar 12 09:05 PM | 2 Likes Like |Link to Comment
  • The Tiger Woods Dubai - a residential golfing community that is part of Dubai Properties Group - has at least two problems these days, but says it's committed to completing its Woods-designed course at Al Ruwaya. (previously: I, II)  [View news story]
    Will be a nice place for a bachelor party, for sure.
    Dec 15 08:43 PM | Likes Like |Link to Comment
  • WSJ reports a widening net aiming at insider trading on Wall Street now incorporates a close look at one of the largest, most successful hedge funds: Steven Cohen's SAC Capital Advisors. A cooperating witness will talk about transactions at a hedge fund he worked at for years, reportedly SAC.  [View news story]
    Oh goodie- liquidation Monday coming !
    Nov 7 09:38 AM | 1 Like Like |Link to Comment
  • The Greatest Depression Is Coming [View article]
    Not cheap enough, yet...

    On Oct 17 09:39 AM jay brebner wrote:

    > the richest 10% drives consumption not the middle class. the middle
    > class buys what it needs but the upper class buys what it wants.
    > I believe it is something like 50% of consumption. while they have
    > taken a hit as well there are a lot of toys/assets to buy now at
    > lower prices and if they were smart they'd be buying it all up starting
    > now.
    Oct 17 05:54 PM | 7 Likes Like |Link to Comment
  • The Economic Recovery That Isn't [View article]
    "Left to its own, the economy would have spun into a deflationary depression (with untold misery for large sections of the population)::

    This may happen ultimately anyway. Guess who is going to benefit then ???? GS et al.., instead of those who kept themselves clean, forsaw the disaster and should have had a once in lifetime benefit/ deserved windfall last year.

    On Oct 04 04:55 PM bob adamson wrote:

    > Mr. Schiff is wrong in his assessment of what could have been achieved
    > during the past year, about what has been achieved during that period
    > and what needs to be done over the next few years. The task for the
    > past year was to prevent an unprecedented world wide banking, financial
    > and general economic collapse and set the stage for remedial action
    > in further stages over the next years; not merely end a mild downturn
    > in an essentially healthy economy through some fiscal and monetary
    > tweaking or by letting market forces do the job unaided. Left to
    > its own, the economy would have spun into a deflationary depression
    > (with untold misery for large sections of the population) forestalling
    > any short to mid term productive options for either government or
    > private sector action. The task now is to stay the stimulus course
    > until the private sector is again able to carry its share of the
    > load. The longer term task is to prevent a false recovery that simply
    > returns the state of affairs to that which pertained in 2005 or thereabouts.
    > Rebuilding the public sector and industrial sectors of North America
    > and Western Europe and encouraging thrift and increased savings patterns
    > at these later stages will be important to the development of economic
    > soundness but only if we don’t jump the gun with this before the
    > recovery is truly underway.
    Oct 4 05:17 PM | 6 Likes Like |Link to Comment
  • Frustrated by criticism over his healthcare initiative, President Obama is considering proposing his own legislation. The Obama bill would include a trigger for the much-debated public option, having it kick in after 3-5 years if private insurers weren't living up to their obligations.  [View news story]
    Most doctors are not rich, but they deserve to be. They have worked much harder than lawyers, MBA's, and even professional athletes to accumulate the knowlege and skill to succeed. Most of the 'banksters' have accumulated far more assets than the average doctor and have provided very little of value to society. Next time you or a family member are sick, and are cured by Dr. you will realize what that their pay is well deserved, and what a nonsense comment that you have made.

    On Sep 06 03:25 AM Michael Clark wrote:

    > Health-care costs are a bubble we have to burst. If Obama can do
    > this, then good for him. If the National Health-Care Program just
    > supports insurance companies at outrageous profits, as is now the
    > case, then it will fail. Pop the bubble in health costs first. Then
    > we need a national health-care system that will take the burden off
    > of businesses, which is clearly a step in the right direction. We
    > are the only advanced society in the world without national health-care.
    > Why? Some vanity that we are the only society in the world 'doing
    > it right'. 60% of American bankruptcies come from medical emergencies
    > that are not paid for by existing insurance. Doctors get rich; drug
    > companies get rich; insurance companies get rich. Everyone else suffers.
    > We are wrong on health-insurance. We pay too much; we don't get much
    > back. Health-care costs (benefits) helped to force American businesses
    > to relocate operations overseas. We lost jobs so that our health-care
    > industry could become bloated with cash. Opponents of health-care
    > equate national health-care with the dread-word 'socialism' (socialism
    > for AIG, Goldman Sachs and Chrysler is apparently ok), Atheism (the
    > implication is that God wants people to die of lack of medical coverage
    > while insurance executives get rich), and the 'loss of freedom' to
    > choose their own doctor, etc. Please. Real 'loss of freedom' is going
    > bankrupt over medical costs, and having a wife or child or mother
    > die because of lack of money to pay for decent medical care. I hope
    > Obama takes the lead on this, and succeeds. It's shameful how we
    > treat poor people in this country in terms of medical needs. Health-care
    > is a national right if we decide that it should be. It's no different
    > in this way than 'freedom of speech'.
    Sep 6 08:26 AM | 3 Likes Like |Link to Comment
  • No Slowdown for the Case-Shiller Home Price Declines [View article]
    Yet, the markets were "Rallying" most of the day. Financials notably. Retail investors had better be ready for what is to come.
    Mar 31 08:48 PM | 1 Like Like |Link to Comment
  • The U.S. government and the Fed have spent, lent or committed $12.8T to rescue and stimulus attempts, so far. That's 14x the $900-odd billion in circulation; almost equal to the entire 2008 U.S. GDP; and works out to $42,105 for every man, woman and child in America.  [View news story]
    But their money is not truly lost. It comes to others....ka ching...

    On Mar 31 08:33 PM MajorG wrote:

    > There's a few people here that are going to lose their clients a
    > lot of money.
    Mar 31 08:43 PM | 2 Likes Like |Link to Comment
  • How Bailouts Are Messing with Capitalism [View article]
    Although completely disgusted, we should embrace this shit. Buy lots of GS, C, BOA and the like and laugh along-side with the criminals... this must be what the Govme't has in mind with their manipulating.
    Mar 29 07:38 PM | 1 Like Like |Link to Comment
  • Are the Big Banks Gaming the Taxpayer? [View article]
    This is so crazy, I'm getting more disgusted by the day.
    Mar 28 11:48 AM | 2 Likes Like |Link to Comment
  • Thursday Outlook: Commodities, Global Markets [View article]
    Yes Doc.

    On Mar 26 07:18 AM Dr. O wrote:

    > Given the TRILLIONS of dollars in spending here in the US, combined
    > with lessor amounts in China, Europe, etc., one wonders if just a
    > bit of that money has been allocated to buy index futures to prop
    > up asset prices.
    > If you were a member of "the boyz" club, and had close political
    > contacts, would you know that the Government had your back going
    > long now, just as you could have known the Government was prepared
    > not to intervene in stock market free fall last year?
    > Is knowledge of what the Government wants or is indifferent to in
    > the financial markets (currency, stock, bond, etc.) the way the same
    > well-connected players make fortunes year after year?
    Mar 26 07:45 AM | 1 Like Like |Link to Comment
  • Wednesday Outlook: Commodities, Global Markets [View article]
    Must be nice to be GS, all the while knowing they would be bailed out, could trade on that sweet, "inside" track. Bet that was pretty profitable. Someone should investigate...
    Mar 25 08:09 AM | 7 Likes Like |Link to Comment
  • I'm Skeptical About This Rally [View article]
    ABSOLUTELY correct.

    On Mar 23 06:54 PM youngman442002 wrote:

    > I too am not buying into to it long term...its strictly a day
    > the Banks are AOK now..except Sheila Blair said some are not...BUT
    > of course she would not say which much for the new transparency...its
    > the bankers( making the American
    > public feel like all is they can get onto baseball or
    > something while they fleece the rest of the TARP monies away....GS
    > will be a big buy of these so called "Bad Assets"..and yes the government
    > will cover 95% of GS will squeeze out a 40% profit them
    > dump them back to the US to cover....and down we go again....but
    > hey its only Monday and only another trillion...probably 3 more by
    > Friday....
    Mar 23 09:49 PM | Likes Like |Link to Comment