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I dont think the bankers would take writedowns if they didn't had to

"Bank of America Corp. is close to an agreement to pay $8.5 billion ... with a group of 22 investors who hold mortgage-backed securities originally valued at $105 billion, including the giant money manager BlackRock Inc., the insurer MetLife" Lesson, if you ever have a large investment loss...

Looks like I was too conservative, effective fed funds seem to be trading at 0.08% quite comfortably

Economist special report on China http://www.economist.com/surveys/downloadSurveyPDF.cfm?id=18832664&surveyCode=%2577%256f%2572%256c%2564&submit=View+PDF I'm too lazy to read the whole thing though

I'm considering gradually starting to buy up some commodities ETFs at these levels(GSG GCC, but not RJI which is an ETN with an european bank behind it and I don't want to risk)

John Paulson having his Dick Fuld moment http://www.businessinsider.com/john-paulson-is-short-european-banks-terrified-of-greece-and-says-stocks-are-cheap-2011-6

I heard Tim Geithner is the Yeti and the Loch Ness monster also

Works perfectly for me

How you are/planning to profit from this?

Karl Rove disagrees with Intrade http://online.wsj.com/article/SB10001424052702304657804576401653113017130.html?mod=WSJ_hpp_sections_opinion

Fed's likely to be wrong on UR forecasts http://www.freakonomics.com/2011/06/22/the-feds-wishful-and-wrong-thinking-about-unemployment/ Plus there are all the shadow inventory of workers who will come back to the labor force. It seems to me that the Fed is projecting optimistic UR recovery...

http://www.dailyspeculations.com/wordpress/?p=6502

Looks like Buffett was wrong, not all calories are equal http://online.wsj.com/article/SB10001424052702304791204576401951936407230.html?mod=WSJ_hp_MIDDLENexttoWhatsNewsSecond The odds of him dropping his junk food diet though, are roughly 0%

But perhaps misspoke is not the right word. Its a strange 'coincidence' that the talk gets dovish when the data is bad but becomes tough when the data is good. Back in 2010 when the talk was all exit Bernanke NEVER went out of his way to say what extended mean, the FOMC reacted to Dudley 'six...

I missed the press conference(A rare thing for me to miss a major Fed event but this seemed like a non-event and I had some stuff to do) Looks like I was correct to suspect that Bernanke misspoke when he referred to extended period as 'couple meetings' From GS: 4. At the same time, his...

Fed changes 'subdued inflation trends' to 'subdued outlook for inflation '

Tell that to the CHF/EUR pair

No politician will be elected in Greece if they want to keep these policies. Its like running in the US saying you want more TARP. Its matter of time

EU won't turn its back on Greece, Greece will turn its back on the EU at some point, politicians go where the votes are

My point is that stocks go up in the long-run and capitalism works. There are so many things that can go wrong with a short position, this latest just adds another one to the list. I'm short PPD and lost quite a bit there even though the company is a ponzi with an unsustainable business model of...