Comments for "FDIC on Omni National Bank, Atlanta Failure"
Nemo says:
Something escaped from embargo early?
Nemo Fri Mar 27 16:21:08 2009 CDT #
Terry says:
No buyer - only a paying agent - I think this is the third bank this year that the FDIC could not find a buyer - this is a bad trend.
Terry Fri Mar 27 16:22:17 2009 CDT #
CRbot says:
This comment thread has been HALO-IZED by CRbot.
http://realize.org/cr/halokit.php?halourl=http://www.haloscan.com/comments/calculatedrisk/7212641572255893239
CRbot Fri Mar 27 16:23:48 2009 CDT #
Trainwreck says:
What's with a disproportionate number of recently failed banks being GA banks?
Trainwreck Fri Mar 27 16:26:58 2009 CDT #
Nigel says:
I was wondering the same thing until I saw that during the boom, Georgia moved rapidly up the mortgage fraud list into the top five a couple years ago.
The chickens, they're roosting.
Parent Post
Nigel Fri Mar 27 17:22:36 2009 CDT #
Bond Girl says:
EHP -
Sorry, I replied to your "distressed" comment on the last thread. That term is used in reference to debt securities where the borrower is either in default or investors believe it is on its way. If a security is trading at a very high spread to Treasuries, it is considered to be trading at "distressed" levels.
Bond Girl Fri Mar 27 16:30:00 2009 CDT #
Simian says:
Well at least Georgia has not had a failed bank since March 20.
Simian Fri Mar 27 16:30:13 2009 CDT #
volker the viking says:
re: what's with Georgia failures--These are banks close to the FDIC Atlanta offices, thus conforming to their new travel expense restrictions. Less overnight lodging, no air fare, fewer pizzas. Plus, someone high up in the department is related to sherman.
volker the viking Fri Mar 27 16:33:01 2009 CDT #
EvilHenryPaulson says:
Bond Girl,
Saw your post re: Penn turnpike, Stateline http://www.stateline.org/live/details/story?contentId=387002
For one thing, the state was overly hopeful that investing its lump-sum payment would earn it more than $1 billion a year in interest to spend on transportation projects. Under the deal, Pennsylvania planned to pay off debt and invest the remaining $10.2 billion.
Rendell assumed a 12-percent-a-year return, but the state’s own public employee pension fund assumes 8.5 percent interest on its earnings. Beyond that, the report said, the state lacked a clear plan for how the proceeds would have been invested and spent
Hey guys! I have a sophisticated strategy to save the state money! I will:
1. Get a lot of money
2. ???
3. Collect a 12% return on investments
bam, up high, that's what I'm talking about
EvilHenryPaulson Fri Mar 27 16:35:09 2009 CDT #
ShortCourage says:
When FDIC upped the maximum insured deposit level from $100K to $250K, I think this move was universally applauded by economists and policymakers.
That's understandable since the immediate fear was a nationwide run on the banking system. Faith needed to be restored, the thinking went.
However, now we get higher losses for the FDIC with every bank failure. I continue to fear a US bankruptcy, or at least an increase in funding needs beyond what is available from our creditors. Or at least, beyond what's available without a significant increase in borrowing costs (i.e. much higher rates).
What would such an event do to not only housing prices, but the health of US consumers and businesses?
There is no free lunch. The bill is coming.
ShortCourage Fri Mar 27 16:35:37 2009 CDT #
nades says:
RE: FDIC Limits
I saw this yesterday. http://thumbsnap.com/v/O3MFdy4p.jpg
Dont know what to make of it. Anyone have any ideas?
..............
Parent Post
nades Fri Mar 27 16:51:05 2009 CDT #
Anonymous says:
On the CDARS post, it is an association of banks that will allow a large depositor (more than the FDIC insurance limit) to place the funds at one of the banks and they will then place the funds in other CDARS banks in CDs, each below the FDIC insurance limit, so you end up with funds spread out among banks, each holding less than the FDIC limit, so you can stack insurance coverage.
Parent Post
Anonymous Fri Mar 27 23:17:14 2009 CDT #
Anonymous says:
I think the Georgia banks had the mindset of finance companies rather than
a traditional bank. I believe this to be true in Citi's case also.
Anonymous Fri Mar 27 16:35:52 2009 CDT #
Tom Stone says:
Even though this doesn't seem like a lot of money anymore it is still more than I made all last year.
Tom Stone Fri Mar 27 16:36:05 2009 CDT #
reptillian says:
From FDIC: Brokered deposits are not a part of this transaction. The FDIC will pay the $320.1 million in brokered deposits directly to the brokers for the amount of their insured funds.
My, my, their brokered deposits were nearly half the "total deposits?"
reptillian Fri Mar 27 16:36:21 2009 CDT #
GS Rome says:
Why couldn't the reserve requirements be lowered until only an 'affordable' number of banks fail. The banks that behaved recklessly would still be constrained by the new, lower, limit while good banks would profit from more leverage. The reserve requirement could be raised incrementally, by statute.
Thanks for you thoughts, fire away.
GS Rome Fri Mar 27 16:36:56 2009 CDT #
Strom says:
I'm thinking a lot of redevelopment projects in Atlanta went bad...
Any other ideas?
A very interesting article on Omni:
http://atlanta.bizjournals.com/atlanta/stories/2009/03/23/daily97.html
Highlights:
- Texas ratio of 286%
- "Omni National Bank’s failure is the first federally-charted bank to fail in the state during the on-going financial crisis."
- "Omni National, which started in 2000, lent primarily on residential redevelopment projects in blighted or impoverished urban areas. Some industry insiders described the business model as subprime redevelopment lending."
Strom Fri Mar 27 16:37:52 2009 CDT #
EvilHenryPaulson says:
Bond Girl,
Don't be sorry. Either I learn something or I don't, there's only knowledge to be gained and time to be lost when furthering discussion
EvilHenryPaulson Fri Mar 27 16:38:17 2009 CDT #
1 currency now [yogi] :) says:
Free Coke, too.
1 currency now [yogi] :) Fri Mar 27 16:38:34 2009 CDT #
Nemo says:
Omni forgot the five C's:
Capacity, Collateral, Creditworthiness, Class, and Color
Nemo Fri Mar 27 16:41:06 2009 CDT #
Money Man says:
Don't be hatin' NEMO!!!!! A brotha has to have a crib..don't he?
Parent Post
Money Man Fri Mar 27 16:43:29 2009 CDT #
EvilHenryPaulson says:
Post at option armageddon has caught Dimon and Lewis red handed Big Banks Pull off The Ultimate Bait & Switch
J.P. Morgan Chase Chief Executive James Dimon said…that March was a little tougher than the first two months of the year….Bank of America…CEO Kenneth Lewis also said that March had been a tougher month for his bank.
EvilHenryPaulson Fri Mar 27 16:41:45 2009 CDT #
Cascara Sagrada says:
Can anyone comment on this: If an investment advisor places your cash in a brokered CD, do they receive a commission? My mom's advisor has laddered some of her cash in banks I've never heard of, and those banks all pay less interest than anywhere else. What is the incentive here for the financial advisor?
Cascara Sagrada Fri Mar 27 16:42:46 2009 CDT #
Comrade De Chaos says:
"Cascara Sagrada says: can someone ..."
it depends on whether he is a FEE ONLY, FEE BASED or COMMISSION only advisor. The difference between those is substantial. The pay off of fee only advisor depends on how well any particular investment (assets under his managements) does. The pay off of COMMISSION only depends on the size or frequency of commissions.
Anyway, my bet is that that particular advisor bought those CD's through his custodian.
Parent Post
Comrade De Chaos Fri Mar 27 17:35:34 2009 CDT #
Bond Girl says:
You forgot
4) I'll be out of office when it does not work as projected and there are riots over toll increases.
Bond Girl Fri Mar 27 16:43:04 2009 CDT #
ghostfacedinvestah says:
No worries, I am sure the FDIC approved another new bank charter this week whose business model depends on the latest fad (lending to "green energy" companies maybe), to keep the supply of potential banks failures strong.
ghostfacedinvestah Fri Mar 27 16:43:07 2009 CDT #
Mofo Tom says:
...and how long until SunTrust gets voted off the island?
Mofo Tom Fri Mar 27 16:43:37 2009 CDT #
Mofo Tom says:
Atlanta, GA used to be prime mortgage fraud country a few years back. Enforcement efforts have pushed them back behind the current hotspots, but the lenders who got to write and sell the worthless paper probably got into writing it in S. Florida, etc... Now that the music is over, the chairs are saved for the bigger fish.
Mofo Tom Fri Mar 27 16:46:39 2009 CDT #
1 currency now [yogi] :) says:
The Martingale Bank
Round 1
Start with100k. Bet on black.
Win: pay bonus 50k, bet 150 on black.
Lose: bet 150 on black.
Round 2
Win: pay bonus 50k. Bet 250 on black.
Lose: BK FDIC on hook for 250.
I know, as the house they also take commissions on every bet...
1 currency now [yogi] :) Fri Mar 27 16:47:01 2009 CDT #
reptillian says:
"Why couldn't the reserve requirements be lowered until only an 'affordable' number of banks fail. The banks that behaved recklessly would still be constrained by the new, lower, limit while good banks would profit from more leverage. The reserve requirement could be raised incrementally, by statute.
Thanks for you thoughts, fire away."
Are there any good banks?
reptillian Fri Mar 27 16:47:22 2009 CDT #
1 currency now [yogi] :) says:
There is no such thing as a temporary lowering of capital requirements
There is no temporary suspension of mark-to-market.
There is no temporary TALF program.
There is permanent sucking.
1 currency now [yogi] :) Fri Mar 27 16:52:31 2009 CDT #
nades says:
Like Milton or not: "there is nothing more permanent as a temporary goverement program..." (or something to that affect... :) )
Parent Post
nades Fri Mar 27 16:54:24 2009 CDT #
citiprank says:
You tell em yogi...
How the hell can you temporarily change mark to market... .. if you ever tried to change back all those crooked banks would be insolvent
citiprank Fri Mar 27 16:54:22 2009 CDT #
hopeinsd says:
per a foreclosure database, the last two days have seen two major projects foreclosed on in the San Diego- a $19 million loan on National City and $10.3 in downtown. I have no idea who the lenders were, but this are classic local/mid-size bank projects.
(data base is fidelityasap.com, which is free with registration, but I think only a partial list of sales)
hopeinsd Fri Mar 27 16:55:51 2009 CDT #
nades says:
hopeinsd, i think its time to lose the "hope" bro... the CRE in diego is faaked proper! i have been seeing a lot of these: http://thumbsnap.com/v/Drl4ime5.jpg
i have also been seeing a lot of "for lease or sale" and i've seen a few foreclosures too.. SDCU comes to mind ;)
actually we might only have hope left.... the spigot has been turned off....
Parent Post
nades Fri Mar 27 16:59:53 2009 CDT #
reptillian says:
"If an investment advisor places your cash in a brokered CD, do they receive a commission?"
I don't know about an "investment advisor," but a real broker, like Schwab, might give the bank
10 Million for a year at 3% interest. Schwab will sell parts of that deal to its customers, none of
whom get 3%. So, Schwab makes money.
reptillian Fri Mar 27 16:56:03 2009 CDT #
Threads Must Die (aka bobn) says:
if you ever tried to change back all those crooked banks would be insolvent
...would be....?
Threads Must Die (aka bobn) Fri Mar 27 16:57:03 2009 CDT #
barkingtribe says:
More info...
http://atlanta.bizjournals.com/atlanta/stories/2009/03/23/daily97.html
Quote, "Some industry insiders described the business model as subprime redevelopment lending"...yup, that'll get a cool $100 Beelion in NYC.
barkingtribe Fri Mar 27 16:59:01 2009 CDT #
Anonymous says:
Hey in sprie of the recession being over ( market up 20% from lows) , we have are regular Metro ATL bank falure . Hey Omni was was one of my former clients ( enviromental adn property condtion inspections ) . I closed my engineering firm 6 months ago and now just go solo when the work is there .
Anonymous Fri Mar 27 17:02:26 2009 CDT #
Comrade Kilgore Trout says:
Banks failing. Zzzzzz....
I am waiting for GM to declare Chapter 11 and Chrysler to declare Chapter 7.
Yours In Socialism,
Kilgore Trout
Comrade Kilgore Trout Fri Mar 27 17:02:33 2009 CDT #
nades says:
"I'm Barak Obama and I approve of this message, in fact I think its kinda funny..."
Parent Post
nades Fri Mar 27 17:04:35 2009 CDT #
MLM says:
nades -
It would take hoopajoops to really do it justice, but essentially it's an easy way to spread your risk across many different soon to fail institutions.
http://www.cdars.com/how-cdars-works.php
MLM Fri Mar 27 17:04:27 2009 CDT #
nades says:
Thanks... :)
Parent Post
nades Fri Mar 27 17:05:34 2009 CDT #
Bond Girl says:
Re: Brokered CD
She could be paying multiple fees - a transaction-based fee and a fee for financial advice. You have to ask them what she's paying and to whom. You should always ask financial professionals how they are compensated and what potential conflicts of interest they may have.
You should also ask them about the banks. It will give you an idea of where that advisory fee is going.
Bond Girl Fri Mar 27 17:05:43 2009 CDT #
Sebastian says:
Cascara Sagrada asked: "Can anyone comment on this: If an investment advisor places your cash in a brokered CD, do they receive a commission? My mom's advisor has laddered some of her cash in banks I've never heard of, and those banks all pay less interest than anywhere else. What is the incentive here for the financial advisor?"
When I was a Young Stockbroker, I used to sell brokered CDs. I'd get paid a commission as if they were bonds. The CDs typically paid above-average yields, but were from banks with...issues. There was a reason why they paid above-market yields.
Sebastian
Sebastian Fri Mar 27 17:09:33 2009 CDT #
nades says:
Seb you were a stocker broker in a past life?
Parent Post
nades Fri Mar 27 17:11:45 2009 CDT #
Anonymous says:
"Seb you were a stocker broker in a past life?"
Well that explains the "glass is 110% full" outlook. 8-)
Parent Post
Anonymous Fri Mar 27 17:27:10 2009 CDT #
double inverse recession says:
OT @ reptillian from previous Omni National Bank thread Re:Krugman's "The Market Mystique"
"But the wizards were frauds, whether they knew it or not, and their magic turned out to be no more than a collection of cheap stage tricks. Above all, the key promise of securitization — that it would make the financial system more robust by spreading risk more widely — turned out to be a lie. Banks used securitization to increase their risk, not reduce it, and in the process they made the economy more, not less, vulnerable to financial disruption." [emphasis added]
The fact that it takes a Nobel awarded economist to point this out in 2009 shows how far people's heads were up their own asses. What was securitization if anything other than the opposite of diversification? Not only that, but let's play financial economics 101, when you learn about systematic risk and diversifiable risk. When every f&$%ing company in your portfolio is holding the same securitized crap (whether they are a bank, insurance, auto manufacturer etc.), how the hell do you expect to divesify out of that risk? Sometimes I want to punch people in the face. But, as a pacifist, I just internalize it until one day, I will spontaneously combust.
double inverse recession Fri Mar 27 17:15:50 2009 CDT #
Brutus says:
MI-12.0
SC-11.0
OR-10.8
NC-10.7
CA-10.5
RI-10.5
NV-10.1
Seven states now over 10% U-3 unemployment.
Brutus Fri Mar 27 17:20:10 2009 CDT #
Comrade De Chaos says:
"
<tbody>
Cascara Sagrada asked: "Can anyone comment on this: If an investment advisor places your cash in a brokered CD, do they receive a commission? My mom's advisor has laddered some of her cash in banks I've never heard of, and those banks all pay less interest than anywhere else. What is the incentive here for the financial advisor?"
is he a FEE ONLY financial advisor, or commission based financial advisor?
Fee Only: it usually involves an annual fee that is charged based on the assets under management, if assets decline in value so does the fee.
Commission Based: The financial advisor fee is based on commissions per each transaction, therefore the more number of transactions (or higher commissions from any particular investment), the more incentive there is for advisor.
There is also FEE BASED structure (not sure exactly about the name): Financial Advisor gets both a management fee and commissions.
I bet that your mother advisor got those CD through his custodian brokerage. (TD Ameritrade, Schwab ) In case he is a commission based broker, he got them through the company he works for (Fidelity, Meryll Lynch, etc)
</tbody>
Comrade De Chaos Fri Mar 27 17:27:27 2009 CDT #
Comrade De Chaos says:
huh, what is that supposed to mean? I didn't write any code!
Comrade De Chaos Fri Mar 27 17:28:29 2009 CDT #
1 currency now [yogi] :) says:
Sure. They pay higher yields because their exec.'s refuse to take inflated bonuses.
BWAAAAHHHAHHHAHHHAHHAHHHAA
1 currency now [yogi] :) Fri Mar 27 17:30:41 2009 CDT #
Credit enema is coming says:
A class action lawsuit has been filed on behalf of homeowners experiencing problems with drywall manufactured in China, just as the Consumer Product Safety Commission (CPSC) ramps up an investigation.
The drywall, installed in homes in Florida, may be emitting sulfuric odors, potentially exposing homeowners to respiratory health problems. The emissions can also corrode air conditioning coils and wiring, posing a potential risk of electrical fire.
Credit enema is coming Fri Mar 27 17:32:57 2009 CDT #
citiprank says:
yogik I almost spit out my water all over my laptop.. nice one
citiprank Fri Mar 27 17:33:05 2009 CDT #
Broward Horne says:
<tbody>
it is still more than I made all last year.
</tbody>
-----------
Don't worry, geithner is working to fix that really soon!
Broward Horne Fri Mar 27 17:33:12 2009 CDT #
Broward Horne says:
My god. Is CR *paying* for this comment system? I can't even cut and paste basic comments? And *I* am out of work?
Brazil, here we come.
Broward Horne Fri Mar 27 17:34:29 2009 CDT #
Rufus the Doofus says:
<EM>I can't even cut and paste basic comments? </EM>
Looks like it works. I highlighted on my windows craputer, then control-C.
Typed Less than sign, "EM", Greater than sign, then control-V, etc.
Parent Post
Rufus the Doofus Fri Mar 27 20:21:13 2009 CDT #
Rufus the Doofus says:
The cut-and-paste part looks like it worked, the attempt to italicize not so much.
Parent Post
Rufus the Doofus Fri Mar 27 20:22:23 2009 CDT #
Sebastian says:
nades asked: "Seb you were a stocker broker in a past life?"
You bet. A penny-ante Bud Fox, although blissfully unaware at the time of what I was doing. :)
"Not making enough income from your certificate of deposits? I can offer you a safe, conservative mutual fund investment made up of government-guaranteed securities that will pay you a higher rate of interest."
(Except that the fund managers had to liquidate some of the capital to make up for the difference in yield, so the NAV slowly but steadily fell over time.)
"Don't worry about the 8% up-front commission. It takes money to make money, you know."
(Except they were right to worry, since starting off with only 92% of your money actually invested it takes a pretty righteous return to get back up even and *only then* start to make a profit.)
But, stockbrokers aren't paid to think or ask questions, they're paid to sell, which is why I had mixed feelings about the AIG commissions and bonuses. Salespeople are hired to do a job, not pass judgment on the quality of the product they're selling.
I wonder how much has really changed in 20+ years.
Sebastian
Sebastian Fri Mar 27 17:35:00 2009 CDT #
reptillian says:
"The drywall, installed in homes in Florida, may be emitting sulfuric odors, potentially exposing homeowners to respiratory health problems."
Maybe it was recycled wallboard made from meth lab demolitions. That might account for the odor.
reptillian Fri Mar 27 17:35:26 2009 CDT #
Sebastian says:
Brutus said: "Seven states now over 10% U-3 unemployment."
Yeah, here in NC we've now got higher unemployment than either CA or NV, yet housing prices have only fallen by something like -6.5% (Case-Shilller). Go figure.
S.
Sebastian Fri Mar 27 17:40:36 2009 CDT #
nades says:
I was walking thru the strip of bars here in town and noticed that as of late a lot of freequently empty but oddly enough some are always doing good business. The ones doing the good business were the less flashy ones that ole fashioned people gather at for the food and friends. The flashy ones were all but empty. I've come to surmize it is all about the average leverage of the average clientel. The flashy ones had customers that were up to their eyeballs. Then again this reasoning is all in my head and might not be true at all....
Parent Post
nades Fri Mar 27 17:45:07 2009 CDT #
bruiser says:
Sebastian said: "Yeah, here in NC we've now got higher unemployment than either CA or NV, yet housing prices have only fallen by something like -6.5% (Case-Shilller). Go figure. "
As long as New Jersey keeps producing former-government-workers-turned-retirees, there will be high demand for North Carolina housing. It is as if the furthest they can contemplate driving is 8 hours, and just hop on 95 until the clock runs out.
Parent Post
bruiser Fri Mar 27 19:50:30 2009 CDT #
poic.v20 says:
"The drywall, installed in homes in Florida, may be emitting sulfuric odors, potentially exposing homeowners to respiratory health problems"
We get sulfuric odors just as a result of the dinner I consume and so far I don't believe anyone in our household has complained of respiratory health problems.
poic.v20 Fri Mar 27 17:46:19 2009 CDT #
rc says:
Is this a sign that Mark to Market changes won't do any good?
rc Fri Mar 27 17:50:57 2009 CDT #
ATM card, $19 etc... says:
"...so far I don't believe anyone in our household has complained of respiratory health problems."
They probably just talk about it behind your back, as it were...
ATM card, $19 etc... Fri Mar 27 17:51:46 2009 CDT #
Credit enema is coming says:
Does your odor erode copper plumbing and electrial lines ? The Chinese drywall does ..
Credit enema is coming Fri Mar 27 17:53:51 2009 CDT #
poic.v20 says:
"Does your odor erode copper plumbing and electrial lines ? The Chinese drywall does .."
I don't know, next time I will test the electrical lines. My cats sitting next to me do look a little worse for wear though I must say.
poic.v20 Fri Mar 27 17:57:12 2009 CDT #
Synonymous says:
If'n you dint smell it aready:
California's unemployment rate will soar to between 12 percent and 15 percent by next spring and remain in the double digits until at least the beginning of 2012, according to forecasts released by two teams of University of California economists.
The state's unemployment rate has not reached those heights since the Great Depression.
LINK
Synonymous Fri Mar 27 17:57:55 2009 CDT #
China Hater says:
sulfur odor, corrosive, ... could be recycled meth lab wallboard
where does the toxic waste go? there was a big market selling "scrap" to China
don't forget the glycerin in toothpaste and the melamine in dairy products
China Hater Fri Mar 27 18:02:21 2009 CDT #
Anonymous says:
Atlanta Banks are enablers of the highest order:
http://www.flippingfrenzy.com/2008/05/29/real-estate-fraud-and-the-real-estate-investor/
http://www.ajc.com/business/content/business/stories/2008/07/11/atlanta_banks_texas_ratio.html
It appears that Omni has novel approach to ridding itself of non-performing assets. Nasty business.
Anonymous Fri Mar 27 18:05:55 2009 CDT #
Jay D. says:
..............poic.v20...........you are the major source of global warming..............
Jay D. Fri Mar 27 18:05:59 2009 CDT #
Lucifer says:
Bank of America May Raise Investment Banker Salaries (Update1)
By Jacqueline Simmons and Josh Fineman
March 27 (Bloomberg) -- Bank of America Corp. plans to increase some investment bankers’ salaries by as much as 70 percent following the takeover earlier this year of Merrill Lynch & Co., people familiar with the proposal said.
Bank of America, which has received $45 billion of taxpayers’ money, may raise the annual base pay for some managing directors to about $300,000 from $180,000, said the people, who declined to be identified because the final numbers are still under discussion. Salaries for less-senior directors would climb to about $250,000 from $150,000, and vice presidents would get $200,000, up from about $125,000, the people said.
Lucifer Fri Mar 27 18:06:31 2009 CDT #
reptillian says:
Have you smelled your Chinese made products lately?
reptillian Fri Mar 27 18:07:08 2009 CDT #
Jay D. says:
..........folks .........the subject is bank failure and worsening recession ........not China bashing..............
Jay D. Fri Mar 27 18:10:08 2009 CDT #
unrepentant wag says:
..........folks .........the subject is bank failure and worsening recession ........not China bashing..............
Is China unrelated to bank failures and the worsening recession?
unrepentant wag Fri Mar 27 18:12:42 2009 CDT #
poic.v20 says:
"..........folks .........the subject is bank failure and worsening recession ........not China bashing.............. "
This does bear eery similarities to many tickerforum threads. The ones that start with someone pointing out that the 10 year treasury rate is over 3% and up with discussions over zionist conspiracies and icbms and the strength of the Chinese army.
poic.v20 Fri Mar 27 18:13:09 2009 CDT #
Lucifer says:
Has anyone notices the torches and pitchforks jokes on late nite TV? It might turn out be more prescient than many realise.
Lucifer Fri Mar 27 18:16:13 2009 CDT #
Lawyerliz says:
They got the torches and pitchfork meme from us, specifically poster Torches & Ps.
Parent Post
Lawyerliz Fri Mar 27 19:41:26 2009 CDT #
blueridge says:
"We get sulfuric odors just as a result of the dinner I consume and so far I don't believe anyone in our household has complained of respiratory health problems."
They might if you were out-gassing 24/7!!
blueridge Fri Mar 27 18:17:44 2009 CDT #
EvilHenryPaulson says:
Anyone notice:
• Big outflow to invest in emerging markets since the start of the year? This is how we get a manic depression. Leveraged carry trade, that'll never turn against you
• Mizuho Bank ditching $9bn of equities? Peak institutional ownership or outlier?
EvilHenryPaulson Fri Mar 27 18:17:47 2009 CDT #
Jay D. says:
........."the 10 year treasury rate is over 3% and up with discussions over zionist conspiracies"...........poic........any evidence(s) that's not related each other?.......sort of self -denial?.................
Jay D. Fri Mar 27 18:21:07 2009 CDT #
reptillian says:
"Has anyone notices the torches and pitchforks jokes on late nite TV? It might turn out be more prescient than many realise."
In the last week or so, at the peak of bonus outrage, there was an article in the Washington Post with a headline something like, "it's time to put the pitchforks down." Didn't read it.
reptillian Fri Mar 27 18:23:22 2009 CDT #
EvilHenryPaulson says:
Jay D.
You must not have as many memberships as me, I get all the cool newsletters. The ones behind the 10yr above 3% are the Illuminati. The Zionists are engaged in a joint venture with the Pentavariat to take over the Chinese juice market. Hope that clears it up for you.
EvilHenryPaulson Fri Mar 27 18:23:31 2009 CDT #
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CRbot Fri Mar 27 18:29:39 2009 CDT #
reptillian says:
Without bashing China, I must say that the contaminants found in their products should raise some concerns. Why should they they be exempt from customary product quality standards, while endangering their workers and those to whom they sell their products? This amounts to a costly subsidy to Chinese manufacturing.
reptillian Fri Mar 27 18:32:29 2009 CDT #
Baca says:
TED spread taking the pause that refreshes. Appears poised to move up again. And 3 month T-bill is yielding 0.10% as the 1-month went negative briefly the other day. And the VIX is forming a pennant, about to break out to the upside. This all seems so familiar. All we need now is an unpleasant surprise over the weekend.
Baca Fri Mar 27 18:32:42 2009 CDT #
Jay D. says:
.......EHP.....I read more than 100+ report on the market.....mostly far eastern asian market......you are true , I dont read free/cheap newletters.....I am not a rumor monger.......
Jay D. Fri Mar 27 18:38:25 2009 CDT #
hong konger says:
EHP/Bond Girl-
Ever sat in on a muni finance committee meeting? Fun, I can tell ya. The eyes glazing over, the drool, the yearning to be free of the constraints of having to think by the local participants.
"This finance stuff ain't that hard!" was a constant refrain.
Dealing with the officialdom in complex financial matters is like being at a Stuart Smalley "You can do it!" convention.
"I leader! Me smart! We do good!"
Scary ^2.
hong konger Fri Mar 27 18:43:59 2009 CDT #
poic.v20 says:
"This amounts to a costly subsidy to Chinese manufacturing."
And a costly subsidy to American consumers. Why do you think the developed world outsources to parts of the world that turn a blind eye to environmental degradation, slave labor etc..?
poic.v20 Fri Mar 27 18:48:56 2009 CDT #
Dirk van Dijk says:
Only one Pizza party tonight?
Dirk van Dijk Fri Mar 27 18:57:06 2009 CDT #
graingod says:
BondGirl Are public school obligations in your realm?
graingod Fri Mar 27 20:48:25 2009 CDT #
ghostfacedinvestah says:
This is never a good sign.
http://seattletimes.nwsource.com/html/businesstechnology/2008937508_webventure27.html
ghostfacedinvestah Fri Mar 27 21:21:54 2009 CDT #
Stansd says:
Can someone explain to me how the banking system could be solvent? Every time a bank goes under, it seems that the cost to the FDIC is 20-30% of assets. How many banks are underwater 5-10%?
Stansd Sat Mar 28 01:29:15 2009 CDT #
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