Its going to be a bloodbath for hedge funds as redemtions are running at record levels. Clients are withdrawing cash at unprecedented levels.
A bloodbath which begins today as yesterday was the last day for clients to file withdrawals for the last qtr.
yup, this deal does not make sense. Citi have been screwed on this deal.
The Fed guaranteed JPM would not bear any loss from taking over Bear Stearns. Citi should have walked away without the same guarantee.
now $2.20 .. now 1.90 as i finished typing out the text below
Its not a bail out - its a buy-in.
The banks will have to bear any future losses from the "assets" they hand over to the FED.
Curse of ABN takeover. The ABN takeover will be seen as the worst financial mistake RBS/Fortis as they paid top dollar just before banks started to collapse.
Paying $100 billion ABN, a second rate dutch bank is going to hurt a lot of instutions involved in the deal
I'm on 10.1 and last week was a nightmare as it would start to lag whenever volume picked up in the market. This happened nearly every day and i cant trust the data anymore whenever volume picks up in the market.
I'm now looking at other vendors.
Paulson has ensured that when he leaves the FED, he'll be able to earn millions for half hour seminars with the banks he's rescued.
The restatement of GS and MS as commercial banks is shameless corruption and should be blocked.
Its means they have access to the $700 billion fund that is being set up by Paulson. They can hand over all their worthless assets to the taxpayer and make sure the bonuses this year will be the best ever.
No crash till the election is over. I wonder how much this election will cost the taxpayer - thanks to the FED trying to prop up failed companies. They could have used all that money and paid off everybody's mortgage.!
the lunatics have taken over the asylum.
Interesting to see how this ban came in as soon as Goldmans were threatened.
Every sell needs a buyer, why not ban the short buyers!
Reminds me of that quote recently:
you can put lipstick on a pig, its still a pig.
If it can survive the next couple of days then it may have a chance of coming through this in some form.