Bad Bank Plan on Thursday!

Quote from BlueStreek:

Friday 25 minutes before the close MAY have been an excellent buying opportunity if Obama doesn`t screw this up like he has so far with the bs house version of the stimulus plan.

I have more confidence in Larry Summners though to get this done in the right manner.


http://www.cnbc.com/id/15839285/site/14081545/
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I suspect we may see a tidal wave of hype leading up to this.They will want maximum momentum for the release.

Obama only has one shot to get this right. They are gonna push it for all its worth.
 
"They have to do a bad bank," Harvard Economics Professor Ken Rogoff said. But "if that's all they do then it's idiotic."

This administration needs to get fundations right and I seriously doubt they worry what market does short term.

Anyway, I bet that administration would favor direct intervention in realestate market then getting bad assets off the books.... GB forced RBS to lend and I think US will do that same one way or another.

Thursday looks like perfect short setup to me.
 
Don't know who it was but I like the guy who said -

'Why create a bad bank. Surely we've got enough of them already"
 
Quote from AK100:

Don't know who it was but I like the guy who said -

'Why create a bad bank. Surely we've got enough of them already"
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US banks are good -they make a lot of money, especially at interest rates at 0. They have consumers by the balls and they are able to squize the last dollar to be sure. I doubt you can create a better bank from scrach.

The question is who's going to pay for develeraging and what regulations to put in place so banks don't kill the economy with their greed.
 
Moral of the story: never trust Gasparino or his "sources".

He came out on Thursday and Friday with some "doubts" that it was going to go through, and it tanked the market and financials both times.

Hopefully he can STFU
 
right now if banks get these assets off their books and borrow at 0% and lend at 7% with 20 to 1 leverage, as long as they make prudent lending decisions for the next 8 months until the economy starts to re-energize and companies have more stable order book visibility going forward (meaning they will be able to take on riskier-higher margin projects) they will have positive and robust earnings potential until interest rates start to rise due to the next inflationary cycle.
 
Quote from stefan_777:

Moral of the story: never trust Gasparino or his "sources".

He came out on Thursday and Friday with some "doubts" that it was going to go through, and it tanked the market and financials both times.

Hopefully he can STFU
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I'm not much for conspiracies but Dennis Kneale was bending over backward to scare the market fri when Gasparino was RE-reporting the bad bank news. He put that news out thurs pm on Kudlow's show. I guess CNBC folks aren't aware of when people report THEIR OWN NEWS?

oh well whatever.
 
Moral of the story: never trust Gasparino or his "sources".

He came out on Thursday and Friday with some "doubts" that it was going to go through, and it tanked the market and financials both times.

Hopefully he can STFU

I thought the market was going to sell off late Friday due to end of the month factors---plus his report just took a little bounce out of any longs momentum to rally during the last hour that I thought presented an artificial buying opportunity so i picked up a bunch of s&p calls for when this stuff gets announced next week----it was only a matter of when not if!
 
Quote from BlueStreek:


I thought the market was going to sell off late Friday due to end of the month factors---plus his report just took a little bounce out of any longs momentum to rally during the last hour that I thought presented an artificial buying opportunity so i picked up a bunch of s&p calls for when this stuff gets announced next week----it was only a matter of when not if!
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A late day sell off is never out of the question.

But this was a late sell-off on top of a midday sell-off caused by Gasparino coming out re-reporting Thursdays "news" around 1:20pm ET.

They were even admitting it on CNBC that he pushed the market down.

It was the nasty pullback that broke through the 50 period SMA on the 5 minute. Market was doing fine before he came out.

I think this is a little rumor reporting feud between Gasparino and Steve Leisman, who broke the story Tuesday evening. :D
 
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