A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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Posts Tagged ‘ Backstop ’
Spitzer on the JP Morgan Chase fiasco – Slate Magazine
By Eliot Spitzer What to do with Jamie Dimon? The CEO and Chair of JPMorgan Chase has tried so hard in the past several years to seem the “good banker.” He is so charming and gracious, yet all the while lobbying, cajoling, pushing, and wheedling to eviscerate any semblance of real reform on Wall Street....
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On the Swiss, the IMF and the G-20
There will be some drama, and few splashy headlines out of the G-20 meeting in D.C. this weekend. Europe is cracking up (again), and the IMF and big guns of the G-20 will spout about “expanded firewalls” and “global co-ordination” in the final ...
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French Banks Won’t Be Able To Handle Inevitable Italian Restructuring
12/21/2011 @ 6:01PM |1,912 views
French Banks Won't Be Able To Handle Inevitable Italian Restructuring
Despite the latest attempt by the European Central Bank to kick the proverbial can far down the road, the Eurozone remains under heavy pressure, a...
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Three Charts That Blow the Doors Off any Hope of a 2012 Rally
The centrally-managed rally of March 2009 is over; reality is finally intruding on the manipulation and propaganda.
A good way to generate hate mail is to question 1) Santa's "guaranteed year-end rally" and 2) the notion that market rallies always...
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Benny did not say the magic words
QE3
We all know more QE would make things worse in time anyway,but traders still wanted yet another backstop.
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Only One Way To Save The Euro: Print More Money
The latest column from Ambrose-Evans Pritchard -- The Telegraph's star finance columnist -- is a must read.
The title: You are all wrong, printing money can halt Europe's crisis.
As you can surmise, he thinks the idea that fiscal discipline can sa...
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EU Leaders Throw Europe a Plutonium Life Preserver
The euro system was doomed from inception for fundamental reasons; trying to conjure up "something for nothing" solutions will fail catastrophically, and soon.
As Europe flails helplessly in the waves of insolvency, its leadership has tossed it a life...
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BAC offloading derivatives to FDIC per counterparty instructions
At the request of counterparties, BAC is moving derivatives to its FDIC insured subs. Naked capitalism claims that the 2005 bankruptcy laws give derivatives counterparties first claim against assets. How this transfer is not a crime, I cannot imagine....
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Italy Teetering on Brink of Disaster
Worried about the Monday open? You probably should be, but really, the S&P downgrade isn't the big worry.
It's Italy.
Italy has the third largest bond market in the world (after the US and Japan), and it's teetering on the brink of disaster.
The ...
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Plans Near for Freddie and Fannie
February 8, 2011
Plans Near for Freddie and Fannie
By BINYAMIN APPELBAUM
WASHINGTON — The Obama administration and House Republicans are settling into a game of chicken over Fannie Mae and Freddie Mac, with each side daring the other to advance a pl...
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Sovereign Debt solvency crisis is now
Sovereign Debt ... no grace period for 2011 ... this is front-and-center, now.
Portugal's 10-yr cracked 7+% ... if no eurobond solution soon, this should blow wide open, panic selling, collateral mark-downs ... contagion writ large.
This has the pote...
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A Fed-Induced Speculative Blowoff (Hussman)
A Fed-Induced Speculative Blowoff
Why are Treasury yields rising despite hundreds of billions of Treasury purchases by the Fed?, queries John Hussman. The current debate says the Fed's policy of purchasing Treasuries has caused yields to rise in the ...
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Keeping an Eye on the Real Ball
In keeping with my primary theme of following developments on the sovereign credit risk and endless backstop front, we go straight to the PIIGS (Portugal, Ireland, Italy, Greece, and Spain). The EU sent out another disclaimer to PIGGS member Greece, warning that no fiscal bailout will be forthcoming. Elsewhere the Dubai bagunca (mess) appears...
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Keeping an Eye on the Real Ball
In keeping with my primary theme of following developments on the sovereign credit risk and endless backstop front, we go straight to the PIIGS (Portugal, Ireland, Italy, Greece, and Spain) front. The EU sent out another disclaimer to PIGGS member Greece, warning that no fiscal bailout will be forthcoming. Elsewhere the Dubai bagunca (mess)...
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Shell Game: the Suspend Belief Trade
The CBO has new budget numbers out that says a lot about the unsustainability of the current stimulus, bailout and Gumnut backstop regime.
At $1.4 trillion, the budget deficit was 9.9% of gross domestic product, the largest, relative to the economy, in over 50 years.
At $3.5 trillion, spending was almost 25% of GDP,...
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Feed Me Seymour Day
The 19 year joy stick Boyz are goosing the market today, and for undetermined reasons. The cognoscenti has an eye on one of the primary owners of trash, the Fed, for clues as to whether they will backstop the creation of Bubbles du jour.
My guess is that the Fed will throw the markets a...
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Panic Now, Avoid the Rush
The Treasury Borrowing Advisory Committee (TBAC) released its quarterly advice to the Treasury yesterday. This is public domain stuff, and since I haven’t heard much mention of it in the mainstream media, I am reposting it here in its entirety. This is an unfolding horror story. This report paints a picture of the financial...
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The Final Backstop- None- Professional Edition
The Fed released its H41 balance sheet report, money supply, commercial paper, and primary dealer data on Thursday and the MBAA released its mortgage applications data. The Fed shrunk its balance sheet for the 5th week in a row in spite of big increases in TAF and CPR. Meanwhile, FCBs continued to binge on...
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