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They actually did something right for once.

Agree that it may yet have further to go - these things always go further and faster than you expect. "Before starting his own firm in 2005, Touradji co-founded Catequil Asset Management LP, a $1.6 billion hedge fund that shut down in 2004 after three years. He worked at New York-based...

There is not much you really want to be long of when the global financial system as we know it is collapsing.

Agree, look what hapened if you bought gold at $800 in the seventies as a hedge against inflation.

The assumption in S&P's piece of carefully timed propaganda was that there would be NO FURTHER DECLINES IN HOUSE PRICES. Yeah, right. For some reason this assumption was not emphasised in the wire service stories. Complete non credible BS organisation, but I knew that from the crap they wrote...

Yet? 40 banks to lend USD2Bn to a major IB is telegraphing something about LEH, or omething about capacity to lend, or both.

He is a menace to the investing public.

MS stated that its Level 3 is mostly property - although it tranferred a few billion from Level 2 to 3 after that. Covered MS on Friday on gut feel supported by pending results and more resilience than I would have expected on the BSC news, govt market distortion being aimed direcltly at...

Exactly the problem, there are actually some very smart cookies/clued in people/beanspillers on those boards but finding them is too hit and miss/time consuming.

Hey Joey, Joey, listen to me it's Jimmy yer talking to. When I said the market had got it wrong and everything would be OK I thought it would, I mean, how was I to know this was going to happen" "Margin call, schmargin call, vats it matter?" "well yeah I sold a few shares but that was...

Those danged shawts cheatin 'onest folks outa their savins. Wait 'till the Gummint heahs 'bout this.

AUD/USD down USD/JPY down i.e. JPY/USD up is carry trade unwinding (again).

"Why oh why didn't I take the loss when it was still small............" We've all been there, but not with a position quite that large.

Bernanke is on record as saying the US can't go broke because it has "printing presses". Don't shoot the messanger.

Will it open? Will the NYSE open even? This is the Gummint that will not allow markets to function if it means banks losing more of what equity they have left.

I would agree but for one thing, the Fed is at the back of this probably offering some kind of compensatory deal to JPM if valuation estimates are wrong.

Good point. Something I overlooked - still at the planning stages on this one.

Satellite makes sense if you are streaming thousands of symbols.

Fed will back JPM as JPM comes under its control but JC Flowers does not and in any case does not have the expertise and maybe doesn't have the balance sheet or credit lines needed. This is a real problem here, nobody wants private equity fairies involved when the system is at risk of collapsing.

Even with the Fed guaranteeing liquidity BSC is probably toast - nobody will risk the recriminations of keeping money with BSC when they can move it, nobody will do an OTC deal with BSC as the counterparty. As Dhyde said "the death spiral you are in becomes self-fulfilling" If a Bank loses...