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  • Bank stocks were among the day's big winners, fueled by Berkshire Hathaway's (BRK.A +8.1%) buyback and cautious eurozone optimism. JPM +7%. MS +6.5%. C +7%. USB +5%. BAC +4.6%. GS +4.2%. STI +8%.  [View news story]
    If Warren B doesn't need to buy his own stock, the other banks hope he will invest in theirs, but I don't think he will fall for the same trick twice seeing how his BAC leap of faith has backfired.
    Sep 27 01:04 AM | Likes Like |Link to Comment
  • Stocks give up some gains and the euro turns lower again as Dow Jones reports German finance minister Schaeuble saying there is no plan to boost the EU rescue fund. Much ink was spent over the past 48 hours reporting on various schemes in the works to expand the size and scope of the EFSF.  [View news story]
    They get the idea of a massive plan, but they won't be able to pull it off in the way that gets the job done. They have like 10+ people at a conference table to talk about what they "should" do and not what they "will" do.

    Just look at how naive the US government is. They also get the idea of having to reduce deficits, and reign in ridiculous benefits for everyone on American soil, but in reality, they are as useless as the European FinMin's. They are politicians. They are voted because of their ability to talk their way into the job, not for the real skills they have to solve anything.
    Sep 26 03:12 PM | 1 Like Like |Link to Comment
  • Odds of a French bank bailout jump after the Bank of France's Christian Noyer muses that a facility set up in 2008 could be used in case of an "extraordinary event." The big French banks led the CAC 40 higher today. SocGen (SCGLY.PK) +4.9%, BNP Paribas (BNPQY.PK) +4.4%, Credit Agricole (CRARY.PK) +3.4%.  [View news story]
    umm...isnt this a bad thing? the fact that there is a need for a bailout? am i missing the big picture or what?
    Sep 26 12:07 PM | Likes Like |Link to Comment
  • The Chicago Fed says the tepid level of its National Activity Index (earlier) in relation to historical readings points to "subdued inflationary pressure from economic activity over the coming year," backing up last week's FOMC statement that inflation will "dissipate."  [View news story]
    yes it does. i wonder where these politicians shop. i guess they are so rich that they dont shop for themselves so they dont realize how much food and gas costs these days.
    Sep 26 12:01 PM | Likes Like |Link to Comment
  • The ECB will be discussing a number of measures to ease monetary conditions at its Oct. 6 meeting, according to a source. Among them are restarts of its covered bond purchase program and 12-month loans to banks. Earlier, ECB member Nowotny tipped a possible rate cut.  [View news story]
    hello rumors. someone always leaks something called confidential and requests that they not be named. so no one every confirms or refutes the news, and no one ever takes the blame for spreading rumors in the first place. awesome world we live in.
    Sep 26 11:44 AM | Likes Like |Link to Comment
  • The Justice Department accuses former online poker site Full Tilt Poker of running a Ponzi scheme that allowed insiders to take out $444M in funds that were supposed to be held in player accounts. Court filings amending an earlier complaint accuse board members - including well-known poker players - of bank fraud, money laundering and illegal gambling.  [View news story]
    Jail them all. Throw them into the same cell as Madoff and see who comes out the winner. I'd pay to watch that on TV instead of those poker tournaments!
    Sep 20 03:45 PM | Likes Like |Link to Comment
  • A possible reason for the move down in Europe is a report from Reuters saying there is just 75% private sector participation in the Greek debt rollover. Greece has threatened to walk away from the deal unless a 90% rate is reached. Stoxx 50 now red on the day, -0.2%.  [View news story]
    Greece is a THUG. "threaten to walk away...."...on what basis?
    Sep 16 12:24 PM | Likes Like |Link to Comment
  • Eurozone finmins put off until October a decision on whether to give Greece its next tranche of rescue loans. The delay sets up another round of kabuki theater where Greece will scramble to pass reforms and European politicians will tell constituents how strict they're being ... before finally releasing the €8B.  [View news story]
    I would say the moment all the eurozone guys minus greece figure out their total exposure, greece will get the boot. They should understand that dealing with a liars who inflated their deficit to get help, and is just bad business.
    Sep 16 10:00 AM | Likes Like |Link to Comment
  • Market recap: Global central banks opened a big can of liquidity on Europe, refreshing risk appetites even as U.S. jobless data continues to deteriorate. Stocks, up 6% from Monday's low, racked up a fourth straight day of gains. In a risk-on day, Treasury yields jumped ~10 basis points, and gold tumbled 2.5%. NYSE advancers led decliners two to one.  [View news story]
    No one cares...that will soon be the same for Greece. The US is doomed in the long run. We have politicians who are more busy minding other people's business than the ones that matter on hand, in the is a joke that they find so much courage and wisdom to teach other countries how to run theirs and find so much inability to run ours. It is a sad fact.
    Sep 15 05:59 PM | Likes Like |Link to Comment
  • As expected, Spain's lower house approves a law allowing a 2nd rescue deal for Greece and expanded powers for the EFSF. The changes to the EFSF include an increase in the effective lending capacity to €440B and allowing funds to used for bank recapitalizations.  [View news story]
    They are spending the funds because they know that if they dont help, then there is no reason for others to help them later. It is like a sense of equality which is driving them and not anything else.
    Sep 15 02:29 PM | Likes Like |Link to Comment
  • A bit of detail on the dollar funding move announced this morning: The ECB will offer 90 day dollar loans - in 3 operations later this year - to EU banks in the hopes of assuring smooth functioning of money markets. It's an ECB operation, with the other central banks signing on to show a united front.  [View news story]
    And then China bails everyone out...
    Sep 15 12:57 PM | Likes Like |Link to Comment
  • Foreclosure filings were reported on 228,000 properties in August, +7% M/M, with 78,800 default notices, +33% M/M and the highest monthly gain in four years, RealtyTrac reports. The jump may mean that lenders are pushing through more of the foreclosures delayed by robo-signing. Bank of America (BAC) reportedly has been ramping foreclosures into overdrive.  [View news story]
    So they were postponed because of robo-signing...and now they are reinstated so robo-signing is kicked into overdrive?....I see...
    Sep 15 12:57 PM | Likes Like |Link to Comment
  • A bit of detail on the dollar funding move announced this morning: The ECB will offer 90 day dollar loans - in 3 operations later this year - to EU banks in the hopes of assuring smooth functioning of money markets. It's an ECB operation, with the other central banks signing on to show a united front.  [View news story]
    "It's an ECB operation, with the other central banks signing on to show a united front."...

    How to succeed as a politician?
    1) Make sure you give credit to others for a plan that you know sucks
    2) In case it doesn't fail, make sure you give yourself room to claim credit
    3) Be as fake as necessary despite how ridiculous you think the other countries have been run. "Keep your friends close, and your enemies closer"..even if you have to share a seat in hell with them
    Sep 15 11:00 AM | Likes Like |Link to Comment
  • "What do you call a 'rogue' trader who makes $2B," asks the WSJ's David Weidner. "A managing director." Catching improper trading is quite simple, according to the Champ, Nick Leeson. The fact is, it's allowed because of the winners.  [View news story]
    What do you call a rouge trader who loses 2B?....FIRED!

    It is quite simple. It is either zero or hero. No other option.
    Sep 15 10:59 AM | 1 Like Like |Link to Comment
  • The ECB and other major central banks announce - in coordination with the Fed - the opening of dollar liquidity-providing operations. The news means the ECB will be able to offer EU banks dollar funding as necessary. Bank of England. Bank of Japan. SNB.  [View news story]
    If Madoff got 125 years, how many years should these central bankers get? 1250 years...EACH?
    Sep 15 10:45 AM | 1 Like Like |Link to Comment