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That scene at 2:15 in the video... no wonder no one knows what they have.
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Originally posted by Aeson
Blame teh Physicists
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That's about 400 pages. And that's just one junk mortgage packaed as security document.Originally posted by Aeson
That scene at 2:15 in the video... no wonder no one knows what they have.
Now add the privately registered (unknown to all but those with odd bits of paper in filing cabinets) default swaps that have been swapped back and forth...
and no wonder anyone who has cash is king.(\__/)
(='.'=)
(")_(") This is Bunny. Copy and paste bunny into your signature to help him gain world domination.Comment
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If you need physics to understand a trade, or model, it's likely that sort of trade should not be allowed.Originally posted by EPW
Blame teh Physicists
Reregulation should not be a huge issue.
CDSs are insurance. They have to be regulated as such. No more shells with zero assets selling insurance.
Repackaging loans beyond a resonable point is verboten.
Why would you need a fantastical construction to sell a resonable asset? The only point of the crap was to hide the smellier crap.(\__/)
(='.'=)
(")_(") This is Bunny. Copy and paste bunny into your signature to help him gain world domination.Comment
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Oh, and investment banks that deal securities should have to be grounded in commercial banking.(\__/)
(='.'=)
(")_(") This is Bunny. Copy and paste bunny into your signature to help him gain world domination.Comment
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They're unregulatable. In fact the whole system the way it got was unregulatable. We need radical changes and it's going to hurt.Originally posted by notyoueither
If you need physics to understand a trade, or model, it's likely that sort of trade should not be allowed.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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There's almost capitulation today in the US stock markets. Down over 5% so far and still dropping fast.
I guess $700 billion ain't what it used to be.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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500 points.
I love the smell of napalm in the morning.Only feebs vote.Comment
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I have heard that a lot of institutions may balk at some of the requirements attached to the $700B bailout and refuse the offer and just try to ride it out.
The US markets are falling because of fears about the situtation in Europe, it appears.“I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
- John 13:34-35 (NRSV)Comment
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Apparently, some last minute provisions were added that gives the Treasury Dept the authority to make it more punitive.
Yeh, Europe's financial system is melting down right now.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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but BNP Paribas is going for the kill... wander who will come out of all this consolidation as the ultimate "too big to fail" institution...Socrates: "Good is That at which all things aim, If one knows what the good is, one will always do what is good." Brian: "Romanes eunt domus"
GW 2013: "and juistin bieber is gay with me and we have 10 kids we live in u.s.a in the white house with obama"Comment
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It's long past that. People are beginning to realize that our Lords and Masters do not know what they are doing, and have been relying on the old "Sorcerers'" trick, which is to pretend one has special and infallible knowledge that is inaccessible to normal folk, and then use it to generate public confidence (this is Bush's favourite trick too which is why he will never admit to being wrong).Originally posted by Imran Siddiqui
The US markets are falling because of fears about the situtation in Europe, it appears.
But it is now being exposed as the confidence trick it was all along. Pity the fools.
Only feebs vote.Comment
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The US markets are down almost 8% now. Still not quite capitulation.
The credit crunch has improved this afternoon, however. The 3-month Treasury is now yielding 0.38%.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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A recent poll suggests that 60% of USians believe a depression is likely. It doesn't matter if banks ever start loaning, because no one is going to be borrowing.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Why wouldn't people try to borrow money when they have none of their own?Originally posted by Kidicious
A recent poll suggests that 60% of USians believe a depression is likely. It doesn't matter if banks ever start loaning, because no one is going to be borrowing.If you don't like reality, change it! me
"Oh no! I am bested!" Drake
"it is dangerous to be right when the government is wrong" Voltaire
"Patriotism is a pernecious, psychopathic form of idiocy" George Bernard ShawComment
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