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Come on, selling crap and shit is against the law now?

Obama already choose 30% or so of the FOMC. If you guys still want to see a hate hike in your lifetime you better hope Congress doesnt audit monetary policy

One thing I noticed on 'Invisible Hands' so far is how much the global macro managers focus on the business side of things as opposed to the market side. Volatility, redemptions, cash for liquidity, communicating with clients, etc. And how much those that didnt got hurt in 2008 when liquidity...

Greece 'Nearly Insolvent,' Bailout Won't Work: Roubini http://www.cnbc.com/id/36834215

The Brazilian Central Bank jacked rates by 75bps, the country has the highest real interest rate in the world now

I believe they became so influential as a result of bad regulation(Basel accords), it created demand for AAA assets since they had lower capital weightings, they met that demand by coming up with suspect models. Whether their models were the result of stupidity or criminal greed I dont know

S&P downgrades Spain, there is simply no reason to expect the agencies to play ball and sucumb to political pressure, they are not afraid of sinking the EU experiment and turning the EUR into confetti

'Invisible Hands' is great, just finished the chapter by Jim Leitner, very interesting trade ideas and portfolio contruction themes

The symbol on IB is GRE

Looks like credit ratings matter after all It’s a double whammy: you’re downgraded, so you have to post more collateral, and the collateral you post gets downgraded, so you have to post more of it,” Mehernosh Engineer, a credit strategist at BNP in London, said in an interview. “If...

Dick Fuld said LEH lost $30b in liquidity in the two days leading up to the weekend. The CDS was around 600-700bps, so lets make no mistake, of lot of outflows could be hitting the Greek banks but that information is not being made public because its against the banks interest. Trichet is...

I agree with this to some extend but I seem to recall you being a fan of timing GE calls. Swaping to ZQ is switching from synthetic long Greece/EU to being neutral

Trichet better announce looser collateral ratings soon, otherwise people will withdraw deposits first and ask questions later

ZQ is safer. I got half of my position in, might put the rest if I like the statement tomorrow. The back is fine because the backs ZQs are going to the moon and are offsetting libor issues

S&P is the first to junk Greece. As I understand all 3 agencies need to junk it in order for it to violate the ECB collateral criteria http://www.cnbc.com/id/36802555

Martin, Looks like Libor-OIS might be pulling a 'Siva-Joty' here. GE ZQ spread blowing out

Christine S. Richard, thats funny I emailed her many times in Dec 2007 and Jan 2008 about the problems on MBIA and Channel Re(that I learned from Ackman) in the hopes she would be brave enough to put it out, looks like she was a bit slow though Btw, I'm thinking of shorting these guys again...

Got 'Invisible Hands' by Drobny yesterday and I'm reading right now, we will see if its interesting as the other one

Greek 2y at 15%

Looks like libor issues are coming back. Jun GE down 1.5bps yet the ZQs are up or flat