Shaggieman

Wall Street Breakfast: Must-Know News

The Fed is counting on the dollar based consumers picking up the spending as they withdraw. So If the dollar goes to freefall so does the hopes of a recovery. Then the consumers buying power is gone and the Fed will have to look to the Chinese to fund the recovery.

<<<Yellen warned that the Fed could not maintain its loose money stance for too long, regardless of the pace of recovery. "It is a core responsibility of the Federal Reserve to preserve price stability," she said.>>>

Wall Street Breakfast: Must-Know News

“ How bad is it when a $1.5 billion GM loss is an improvement? How the mighty have fallen. ”


On Nov 16 09:49 AM JCCIII wrote:

> Government Motors getting out of debt:
>
> "A potential catch: the carmaker plans to use other money from the
> government to repay the borrowing."
>
> This is exactly how the US government pays off bonds; sell new bonds
> to pay off the old. I am sure Mr Ponzi is rolling over in his grave
> and Mr Madoff is wondering "Why am I in jail?"

Wall Street Breakfast: Must-Know News

<<<CEO of Hong Kong, Donald Tsang, said he was "scared" because "America is doing exactly what Japan did last time">>>

Yeah, we're creating a bunch of "zombie banks just like in Japan".

Wall Street Breakfast: Must-Know News

<<<Creditors are outraged that the Fed, which lent Lehman $46B last September just before it went under, were paid back promptly and in full, while they've languished in bankruptcy courts hoping to recoup at least some of their losses.>>>

When going to learn, ya have to be in the club, GovSacs and the Fed never lose.

Wall Street Breakfast: Must-Know News

I hope they're on the banks books but from what I am hearing the banks have started a 3 card monte for counting newly foreclosured properties. Banks thinking it helps to hide the problems and if the commerical real estate starts defaulting watchout below.

On Jul 30 08:59 AM robert.b.ferguson wrote:

> Keep in mind that these "Distressed loans" are on someones books some where as "Toxic assets.".

Wall Street Breakfast: Must-Know News

Not before taking out a $245M loan from you guessed it, Citi.

Tuesday, June 23, 2009
More Bad News For Boeing: Sea Launch Files For Bankruptcy

Posted by Tyler Durden at 11:20 AM
Commercial satellite-launch services provider Sea Launch, which is 40% owned by 787 on time manufacturer extraordinaire, Boeing, filed for bankruptcy last night in Delaware (09-12513). The Long Beach company which has used the Kazakhstan Baikonur Space Center for rocket launches in the past, has listed liabilities of over $1 billion.

What is hilarious is that just last week, the Company launched a $245 million one-year Term Loan underwritten by Citigroup. Is Citi doomed to have the worst luck of any investment bank for ever and ever? For what it's worth, Goldman only provides loans to soon to be bankrupt companies (ahem, Movie Gallery) if they file for chapter with at least a one month lag post refi (and long after the bank has syndicated the loan to unwitting, dimwitted credit PMs who have to generate 15% returns in 3 months or the Exit sign it is).

At least gullible investors in the recent TL issue (yielding between L+200-350) be happy that it is guaranteed by Boeing, which after its 5th 787 launch delay may be better off changing its business model to focus on making space ship launch pads.