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looks as if an overshoot of B takes us to 1150

the cost of this will be spread out over all the credit markets..higher rates Paulson clearly did mention swaps... likely the real reason for the bailout

TY down a half a point

stockholders win, taxpayers lose

I would agree if we were at the start of this crisis, but the rest of the world is tired of lending us money to buy Escalades and plasmas only to have us walk from the debt. my indicator is when the 10 year trez. drops 10 points in one day. a 12% export economy can't support a 75%...

FNM july 15 calls opened at 0.05 and traded as high as 1.30 at the open, Scottrade would not let accounts go long FRE common without talking to a broker on the phone. apparently their system was so swamped that e-fills were way late although options were filled promptly

qUSA.PK

common shareholders are last in the bag line... subordinated creditor and the senior creditors are ahead of the commoners. now lets say you bought some FNM bonds and also paid for a CDS since you want to guarantee the principle amount..and that insurance was very cheap years ago since what...

MMFs are not insured by the Feds. but may have other counterparty insurance which MAY protect you from fraud etc. otherwise, you're just another swinging dick creditor in the event of default. some Fannie sort term paper was NO BID on Friday... that may change but it may not... sleep...

there is asset deflation happening but the purchasing power of the dollar is dropping along with it. to counter this, the Fed. is keeping rates well below the inflation rate which is why you're getting screwed out of any return on saved dollars this isn't lost on the gold market since it...

chart 3

chart 2

it was a late nite hijack of the thread back on point.. the US has only a 12% export market and a 70-80% consumption market since our savings rate is zero, the latest boom (if you want to call it) was completely financed with borrowed money. since inflation numbers are understated by...

56,000 sep. call options on GLD (100 STRIKE) were traded friday against an open interest of 7000 stop doing that Goldman... you're scaring the children

it's worse than that since CDSs for crap paper were bundled and reinsured by Moody's (or whoever) and sold (short) again as AAA gold is gapping for a reason.. pick one

I see Chuck the Fvck has one less admirer

what i still cant understand is how CDSs were written for bonds that didn't exist. there's a trillion dollars of CDS paper for 250 billion in GM paper. I always though the bondholder swapped a guarantee of the bond principle for a fee to the swap underwriter. but to my surprise, a swap...

FRE and FNM entered into swap agreements for the flypaper they issued. aside from the inventory of crap the Feds. told them to buy.

the market is getting way too anal over 5 trillion in GSE debt when there's 61 trillion is CDS exposure floating around somewhere out there. which is likely why Benito Bernanke looked like he was on the way to the dentist when appeared before Con-gress.

I caught the tale end of some commentary on the tube stating that some GSE paper was priced at 5 levels below AAA with some short term paper getting no bid ahead of Monday"s auction. if Monday's auction fails, it should reclench some cheeks at Treasury