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"Under capitalism we have unequal sharing of blessings, under socialism we have equal sharing of misery.” Winston Churchill

Asset-Backed Commercial Paper Yields Rise by Most Since 9/11 By Mark Pittman Aug. 17 (Bloomberg) -- Asset-backed commercial paper yields soared by the most since the Sept. 11, 2001, terrorist attacks after the Federal Reserve cut its discount rate to try to calm financial markets...

It's a way to force a big short covering rally on an options expiration day.

"This market is going down like free beer." Art Hogan

Liquidity (or lack of it) is just an excuse for those who made bad bets and used too much leverage.

"KKR Financial owns about $5.8 billion of mortgage loans, mainly in the form of residential-mortgage-backed securities. The company said it finances about $5.3 billion of that portfolio through short-term borrowing and has an equity investment of about $200 million supporting those positions...

There is the TWS (Trader WorkStation) software and then there is the API software. You need both. You can get the API at http://www.interactivebrokers.com/en/control/apicontrol.php?ib_entity=llc

Did you install the API? The Excel file is included with the API and won't work without it.

How many more billions of "liquidity" will be added if we open down tomorrow?

NYSE New Highs: 18 NYSE New Lows: 420 OUCH!

Larry, Moe, and Curly (or Shemp or Curly Joe).

I interviewed at a number of quant shops and didn't get any job offers due to my lack of formal quant training (just a BS in Finance and CIS and self taught economics and statistics). Well, I'm up this year. I was up last year, the year before, the year before, etc. Quant shops are a den of...

The smartest ones here are actually making money..... But I do agree that in times like these, preserving capital is more important than earning profits.

Reminds me of something Homer Simpson said: "What this scheme needs is an even zanier scheme."

http://www.marketwatch.com/news/story/stocks-lower-towards-close-off/story.aspx?guid=%7BAC186060%2DBBBD%2D462D%2D923E%2D0259425CC7C4%7D Central banks act again The Fed on Friday injected a total of $38 billion into the markets in three steps, which began with a $19 billion injection into the...

The Fed injected more liquidity. The third time today....

But how will all this liquidity help the sub-prime CDOs? If people are defaulting on these loans, the CDOs are worthless regardless of rates or liquidity. This liquidity is a quick fix, but doesn't address the real problem: malinvestment (mostly in residential real estate) when money was loose.

Sounds like Dinosuars' explanation of trickle down economics: Rich people live in big houses on top of hills. If rich people pay less tax they will have lots of extra money in their pockets. That money will then spillover out of their pockets and roll down the hills to where the poor people live.

It doesn't work when half the funds have one position (long volatility) and the other half have the opposite position (short vol). Half the funds go out of business and, if losses are too large, there is no counter-party to the winning funds. On paper, there are winner and losers. But in...

I disagree. But first I should say that I doubt that the Fed will ease. But if it does ease, I expect the market to shoot up at first and then plunge. An ease would signal to the market that the Fed thinks things are worse than they appear.