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A bollocks product, just like the OTR futures, IMHO...

And that debt comment has anything to do with Denmark how?

Why would one listen to bunch of biased idiots who can't even get their facts straight? The number they're bandying about isn't 100%, it's more like 70%, according to the Oslo police. That is a high percentage for sure, so worth having a discussion about it potentially. However, never worth...

Some of what you say makes sense, while some doesn't. At any rate pls feel free to offer a viable alternative to the way the system is organised now. I have offered my views a number of times.

I'm as mad as hell, and I'm not going to take this anymore!! Yeah, man, yeah!!! What am I mad about again? I am so mad I forget the reason...

Yeah, looks like a false alarm, but the mkt is very easily spooked today (esp with ZH doing the usual rumor-mongering).

Debaser, sorry, looks like your favorite bank might be going down after all... There's all sorts of rumors flying arnd now.

Yeah, but they did say that $80bn was the total amount lent over the whole period, rather than monthly. At any rate, my point is that all this noise is obscuring the main issue, which, in my mind, is TBTF. That's the one thing I do blame the Fed for, although Hoenig and a few others have been...

On the other hand, prices of chicken and eggs are apparently declining, especially into Memorial Day weekend. So forget Dunkin Donuts and go see Colonel Sanders. He'll sort you out right.

Well, it's actually quite a bit less than that, but your calculation is roughly along the right lines. An $80bn 1m loan has a DV01 or about $660k/bp. Let's use December 08 as a representative period. Arnd that time the prevailing mkt rate was arnd 20bps (I use 1M FF OIS, which is...

The situation is very different. Nobody believed that Lehman could threaten the viability of USD as a ccy and there was demand for USD because non-US domiciled banks had all these dodgy USD assets to fund. Both of the above are not true for the EUR.

This is just as much of a dream as the other extreme... Unfortunately, the solution is a very tough balancing act somewhere between the two.

It's a technical game (there's a deliverable bond trading with a low 80s handle) and there's been lots of unfortunate shorts, who sold at completely wrong levels.

End of QE2 + lotsa shorts (as evidence by every auction).

If I were you, Daal, I'd wait for the outcome of the ECB meeting. I think they'll hike, regardless of the Greek tragedy. However, the mkt has been pricing out hikes, because people are starting to think the ECB is likely to blink. If they don't (which is what I expect), EUR's likely to have a...

I'm just curious whether anyone actually bothered to calculate just how much of a "subsidy" to the banks this was? There's a lot of outrage, so I'm curious what sorts of numbers people are thinking about. What's the estimate? Did the Fed give banks trillions, billions or unthinkable...

They should have done this with full transparency in hindsight, but everything's easy in hindsight.

Yep, 'cause the carry munkies luv their carry. As long as you're OK sitting on it, while it carrying negatively, it makes all the sense in the world.

No, extreme idealism, while inspiring, never works in practice. This applies equally to Ayn Rand's ideas. I'd say that idealism is actually a very dangerous destructive force.

Precisely... The world is a complex place and the "perfect" solution to all our economic and political issues is a dream. To claim that Ayn Rand had the "right" answer is as silly as saying that the Soviet Union had the answer.