Steak

Are Markets on the Verge of a Breakout or Meltdown?

long dong/silver...HA

The SEC Surrenders to the Oil Industry

If they were bankers Felix would say the funky accounting is necessary to save the world. This is a first cousin of the opacity practiced by the TBTFs and the Treasury/Fed.

Can Options Spikes Be a Coincidence?

Seriously Felix, ever since I've started seeing you in the media more I've noticed a big uptick in these pieces defering to the most benign explanations of whats wrong with our system. In itself no biggie, everyone has an opinion, but very little depth and intellectual rigor therein.

I would love to see some evidence that the authorities have this under control, are acting in our best interest and our financiers are not well dressed criminals. But please stop with the re-posting of other people's poorly thought out opinions.

Understanding the AIG Decision

Felix you suck. Are you really trotting out the "it seemed like a good idea at the time" defense?

According to the government officials in question they did what they felt was necessary to save the world from armageddon. That was Bush's defense for torture too. I really can't believe you buy this crap. I say again, Felix, you suck.

Rajaratnam Indictment: Wall Street Wrongdoing Remains Pervasive

The Fed and Treasury need the Primary Dealers and the TBTFs that deal heavily in derivatives. In 1929 Wall Street was its own entity, today it works hand in hand with the government. That is why any scenario short of a full blown economic collapse will not bring us Pecora 2. Why would the government ever expose its business partners as criminals?

Why Is the Chamber of Commerce Defending Big Banks?

The Chamber doesn't care about small businesses and neither does any member of the Obama administration. Of course any member of either set would huff and puff at such a statement as if they've been accused of burning an American flag while wearing an "I <3 Communism" t-shirt.

But actions speak. They. Don't. Care.

Superfreakonomics and the Value of Accuracy

The practice of misrepresenting sources even when footnotes are given is not limited to the internet by any means. If I did not like a book I was assigned in college then I would base my report on an evisceration of the sources and footnotes.

Indeed studies done about how the "placebo effect" is referenced in medical studies show that most are circular references that originate with one or two poorly conducted studies decades ago.

I would venture as far as to say most crappy referencing in books and academic go unnoticed whereas poor sourcing on the internet is more readily exposed and challenged.

Hobbling Goldman

Sorkin lives for CNBC bookings...I would call him a douche but that would be an insult to the fine folk who work in the femenine hygene industry.

Diana Farrell And The White House Theory Of Bank Size

WIth assertions such as Farrells we can say we have now transitioned from Wall St = Main St. The new frame, which now has the explicit backing of the White House, Too Big To Fail = Our Republic.

Bond Market Sends a Message

Bond folk go long the short end for the steepener trade and long the belly for a flattener, right? I see the end of the moneymarket guarantee program as the reason for short-term paper being so strong...and the flattener trade for a weak 3 yr and stronger 5 & 10 yr.

Just my $0.02

Consumer Spending: Have We Learned Nothing?

Heh, learning...I'm not doing any such thing! Thats what we have Asians for, right?

BLS Jobs Numbers Contradict BLS Jobs Numbers

I've talked to folks in Vegas about this. City Center will be doing the typical hire a ton of people and fire half of them in the first few months. So at first it will look like a savior, then the boom will fall.

Jeff - I'll take a little initiative and call BLS to see if its even the same people who compile these reports. But every time I've called them about methods I've been faced with complete idiocy. Once I was trying to sort out if the weekly claims was a gross or net number and in DC and every regional office in the country, nobody I talked to knew the answer (A: gross, obvi).


On Sep 24 09:29 AM Chris of NH wrote:

> Mad Hedge... did you see where Las Vegas propaganda folks think the
> new MGM CityCenter with 4,000 hotel rooms and millions of sq ft of
> casino, meeting space, etc. will 'rescue' the town? Even better they
> believe it will re-make the city as the locals will spend billions
> in it. Now let's think... 13% unemployment rate, tips and bonus money
> down or almost gone for locals... yup, they will be spending up a
> storm for sure.
>
> They must salivate at the BLS reports.
>
> On Sep 23 09:47 PM Mad Hedge Fund Trader wrote:
> Nevada came next at 13.2%,

What Happened to the Post-Fed Statement Rally?

"equity guys actually thought that there was a chance that the Fed would announce more QE"

ding ding ding :-) I think that is the only explanation that covers the equity selloff and dollar strength. Its not too far fetched. The BoE did an expansion, why can't we. I think the equity markets are actually still pricing in some extension of QE in the future. I think any idea that the Fed is REALLY going to stop QE when the allotment runs out would lead to a much stronger selloff.

How Goldman Sachs Games the System

Retirement savings (pensions, SS, 401ks) are not held in cash. Those assets are held in some sort of investment purchased on some sort of market (real estate, equities, bonds). So unless you suggest it is a rational option to hold all one's retirement savings in cash then anyone seeking to retire will have to be involved in markets. And the markets should have referees.


On Aug 31 07:38 AM wobatus wrote:

> There's no good reason why this should be against the law. No one
> forces anyone to buy or sell these equities. When arguing about the
> spirit of the law, one should question why there is a law at all.
> If GS promised to give information to one client at the same time
> as, or ahead of, another, that's a contractual issue. Otherwise,
> no one buying or selling stocks should care. If you like the price
> buy or sell, if you don't, don't. Stick to that and the rest shouldn't
> hurt you. It is traders might not like this. Investors won't care.
> Ask Warren Buffett.

L-3 Bags Air Force Contract

The $3.3 billion you reference are 2Q09 orders, not the total backlog...just a headsup