liack

In a rare response to media reports, NY Fed's general counsel explains why it directed AIG (AIG) to pay top dollar on credit-default swaps: "In its negotiations with its counterparties, AIG just didn't have the same bargaining power that it did with the Federal Reserve standing in the background. The only sensible outcome was to give them what they were legally entitled to."

what! are you fucking me and telling me its ice cream?!?

if i have the fed behind me, i better feel like i can eat all the ice cream i want and not get fucked in the process!!!!!!!

Goldman Sachs (GS) chief Lloyd Blankfein's apartment is drawing vampire-squid puppets.

OMG like how dare GS attack the cookie factory. DAMN YOU COOKIE LOVING VAMPIRE SQUID!!!!!

New Jersey is paying $1M a month to Goldman Sachs (GS) for protection against rising interest rates - on bonds that were redeemed over a year ago. The state's transportation fund entered a swap agreement in 2003 that doesn't expire until 2019, though it replaced the auction-rate bonds last year after that market froze. Says one rulemaker about swaps: "The world’s got to see what stupidity even the sophisticated investors like the transportation fund can get into."

Goldman: MuuuuHAHAHHAHAHAHAHAHAH

taxpayer: ....
Gov't: eh, wacha gonna do

The U.S. and Germany are already out of recession, Barclays says, signaling the end of the global contraction. "In short, we have grown in confidence that the rebound that started in Asia early in the year has now become a truly global rebound."

hahahahahahhahahah

David Rosenberg's takeaway from the Meredith rally: "The fact that the equity market could rally this much based on one analyst's commentary is testament to the view of how badly investors want to believe that the recession and credit crunch are behind us and that unbridled prosperity lies ahead."

SOMEBODY is jealous

NYSE to extend stock trading to 4:15 after suffering technical glitches. (Bloomberg)

what!!!!!!!!!!!!!!!!!!...

NEVER HAPPENED BEFORE

ok first the DNDN "glitch", now this????? who are pulling these strings!!!!!!!!

Merrill Lynch now sees H2 U.S. GDP growth of 2.7%, almost double its previous forecast of 1.4%. Firm predicts stronger consumer spending due to stimulus programs, and thinks home sales could continue to level off.

whats in the pipe he's smoking?

Goldman (GS) spokesman Lucas van Praag defends his firm for the NY Post, having done similarly for Felix Salmon last week. "We are painfully conscious of the importance in being a force for good," he says, and notes conspiracy theorists have missed pinning on Goldman "the third shooter (in JFK's killing) and faking the first lunar landing."

hahha the guy does have a sense of humour...but which CEO wont admit that his ego is telling him that he wants to rule the world...its just so CEOish

"Green shoots" are sprouting everywhere ... at least in the language of officials, pundits and reporters, who have made the phrase ubiquitous. "These may be the two most overused and annoying words of my investment career," says an adviser.

hahaha NEVER. If cramer has succeded in doing anything in his life, its making the stock market entertaining BOOOYA to that!


On Jun 30 03:25 PM jeandit75 wrote:

> the most ever over-used by far: Boooooooooya!

Futures don't give much of a sense of direction for Q2's final day after a low-volume, low-volatility overnight session. At 10:00 we get Conference Board's consumer confidence measure, with plenty of fedspeak later today (see full calendar). S&P futures +0.15% at 923.

has there ever been a day with 3 fed's speaking????

Former IBM CEO Louis Gerstner urges regulators to shut down the Wall Street casino by taxing daytrading gains by 80%. Six-months later, it should be 60%. And five-year gains should be tax free, he says. (via) That's one way to bring back buy-and-hold in a hurry.

haha ya this'll fly really well

I say tax the ubber rich, like Louis, 80% of their income. Not like anyone can't live off anything less than 50k, then reduce all gov't employee incomes to 30k

all that disposable income can easily pay off the debt faster than any smart ass scheme

A CNBC interview of Rep. Barney Frank turns into a train wreck after Frank and CNBC's Mark Haines can't stop talking long enough to listen. Are these two related?

i love watching barney frank al the time - that lisp of his is sooo funny. ESPECIALLY WHEN HE'S MAD hahahahah wat a clown

Retail chain store sales rose 0.3% from a week ago, ICSC says, and rose 0.5% Y/Y.

am i reading that right? It rose????????

Banks may be trying to drive up the value of inventory by creating a shadow market of foreclosed homes that are not being put up for sale.

of coarse they are, why wouldn't they?

Four small banks become the first to repay TARP funds: Signature Bank (SBNY) returns $120M, Old National Bancorp (ONB) returns $100M, Iberiabank (IBKC) returns $90M and Bank of Marin Bancorp (BMRC) returns $28M.

the exodus from tarp land beginsssss!!