fed_alchemy

Wall Street Breakfast: Must-Know News

JPM gets a reprieve ...thank god FASB is giving "transparency to investors" so when earnings are all black and bonuses are huge, the lobbyist can get paid, so that your politician can get voted in. The trickle down theory works........but the well is dry.

Bank of America's (BAC +0.6%) TARP repayment means that the government is closer to selling its 34% stake in Citigroup (C -1%) - and that PNC (PNC -6.2%) and Wells Fargo (WFC -3.2%) are next, say Deutsche Bank analysts.

I will 30 cents /dollar as a lotto ticket


On Dec 03 03:45 PM j_remington wrote:

> ouch... who is going to buy ? at what price?
>
> not a good situation

Initial Jobless Claims: -5K to 457K vs. 485K expected. Continuing claims +28K to 5,465,000.

Plus... who lays off the week before Thanksgiving . They will be carried through the holidays and 2010 will have no mercy. Have a nice day and vote no Bernanke confirmation

According to Gallup, Thanksgiving week spending plunged 25% from a year ago, and couldn't even muster a rise from the week before. "There's no indication in Gallup's spending data during recent weeks, or so far this year, that this year's spending will do anything but trail last year's depressed spending levels during the holidays," firm says.

This year the food stores were full of unsold turkeys the day before Tday usually they sell out . And this is a stable part of the country

Ahead of Thursday's jobs summit, the government is in early-stage talks with home improvement retailers (HD, LOW, SHLD) about using stimulus dollars to encourage homeowners to replace leaky windows and insulate their walls as part of a broader effort to spur hiring. One option under consideration is to boost the current $1,500 tax credit available to homeowners making energy-efficiency improvements.

you gotta have income to take a deduction...fools. Congress with their 3-6 houses can upgrade to bulletproof .

The investigator of the SEC investigators is looking at whether staffers probing insider trades "committed acts of negligence." Inspector General David Kotz is examining a complaint that says SEC staff had specific evidence of inside trading before closing an investigation.

Cases brought forth were "acts of negligence" the rest was bought and paid for. Ask them why they carry two cellphones

"Mohamed [El-Erian] was having a heart attack," a former Harvard executive says, describing the former endowment fund head's aversion to risky cash bets being placed by then school president Larry Summers. Boston Globe's Beth Healy tells the tale of how one of the world's great universities erred so badly.

The fact that the people being quoted were scared of being vaporized says a lot about who your dealing with.

Wall Street Breakfast: Must-Know News

The smartest guy in the room will be in conference all day...Economic Growth and Innovation, will be replaced by, How can we unwind this PIG.

The government plans to turn up the steam on lenders slow to lower mortgage payments for troubled homeowners. One of its tactics will be to humiliate banks that aren't pulling their weight by naming them publicly. "Some of the firms ought to be embarrassed, and they will be," Treasury's Michael Barr says.

I heard the Gov. pays the banks $1000 for every loan they "rework", maybe public floggings are in order.

Food stamps, rebranded as "nutritional aid," now help feed one in four U.S. children, and one in eight adults - even as welfare rolls have stayed virtually flat.

A carton of cig's ...a box of condoms... some flowers...maybe some surf and turf...PRICELESS. But the government will spend 1000 times that on commissions , studies and szars to do the "new math" for the elites.

In an op-ed this weekend, Ben Bernanke worries about leading proposals in the Senate that would strip the Fed of its powers: "These measures are very much out of step with the global consensus on the appropriate role of central banks, and they would seriously impair the prospects for economic and financial stability in the U.S."

Like a king in a castle with a flaming moat all around him......(any ladders close buy). "Starve the Beast not the Wildebeest"

When Congress mandated in 2007 a more-than-doubling of ethanol use by 2012 to 15B gallons, it wasn't counting on a sharp drop in fuel demand. At the current maximum allowable blend, 10%, updated projections make 15B gallons all but a mathematical impossibility.

Just dump it on the world markets and stick your head back in the sand

The Electric Car Will Usher in Smart Grid 2.0

That was before the great recession , everything just got pushed out to 2040

In a world where one man must fight to keep from being buried in debt ... Now appearing before your holiday movies: the Fed. The central bank is paying for 45-second ads to appear in 12 metro theaters, encouraging responsible credit-card use in the holiday shopping season.

thats IRONY !!!

Banks are pressing for a key accounting change, saying they could help the Fed's exit strategy if they don't have to record reverse repurchase agreements on balance sheets when they act as middlemen.

I want to hear what FASB has to say before the Fed steps in more dung. IF the banks come clean we can raise rates and let TBTF die a long slow death or become lean and mean.