Did a CNBC Reporter Help Destroy Bear Stearns?

[flytiger]

Quote from wareco:

Did Goldman refuse at any time to be a counter-party to Bear or not?

"The hedge fund manager whom Faber “trusts” was lying. Goldman was not turning down Bear’s credit. We know this because some minutes later in the broadcast, Faber says so. "

Let me explain something to you. Mitchell, the author, worked for Columbia School of Journalism. "They" threatened to kill his four year old if he wrote this.

Http://www.deepcapturethemovie.com

Instead of asking questions easily answered by the text, good reporters always source, how does he know that Renaissance pulled 5bb w/i an hour? You think maybe he has some sources inside the industy, who want this over, but don't want to get offed in the process. If you read Deepcapture, you would see they put a couple of guys on their knees and used four more bullets on each than they needed.

We have serious fucking problems here, and they go right to the top. We wil fix it, and you won't believe what you're about to see. I always say that , because when the next shoe drops, I can't believe what I"m seeing, either.

And what is so shocking about this? Cramer has said for years that this is how they work. Just this time, they crashed the system and cost the US 29bb. The jobs at Bear? Those guys for the most part were just scum with nice suits. Let them come forward now and help end this.

 

[flytiger]

Quote from The Kin:

Of course they did. Because they knew that piece of shit was going bankrupt. Why would they want to be their counterparty? They should have used every dime in assets to buy a shitload of puts.

You know, you prove yourself to be a greater fool with each scribe............You know nothing. Absolutely nothing. You fly by the seat of your threadbare pants. I highly suggest that use those two ears and one mouth in the proportion that the Creator desired.

http://www.cnbc.com/id/15840232?video=682914860&play=1

This is exactly on the nut, as reported by Mitchell. If you remember at the time, people accused Schwartz of lying about the cash. "Why did he say that?" if you remember. I think pending investigations may find different results.

 

[buylo]

Quote from turkeyneck:

Please don't make these CNBC morons more important than they really are. They can't even trade themselves out of a paper bag if their lives depend on it.

Tru dat. The CEOs are just as full as gas as the reporters on CNBC. Remember when the Thornbug nut said they had plenty of capital? That was at $10-$11.........now at $.23.

40:1 leverage and your CEO spoking dope and playing bridge is a bigger issue then Faber or Gas-poor-ino.

I thought all these banks said they were done with write offs last quarter. Oops, no.

Who do we believe?

 

[Hydroblunt]

Quote from flytiger:

You know I thought that you were just very naive and unable to accept reality with your endless crying about how the SEC should be doing this and that.

But now I just think you are retarded.

 

[flytiger]

Quote from Hydroblunt:

You know I thought that you were just very naive and unable to accept reality with your endless crying about how the SEC should be doing this and that.

But now I just think you are retarded.

Thanks. Appreciate it. Like an ugly person saying your nose is crooked. I'll take it to heart.

btw there, Einstein. Shouldn't you enter the quote you're referencing, so I can see what you're talking about? Or not!

 

[Mvic]

Fly, I appreciate you bringing these things to the fore and your dedication to seeing the system cleaned up and trying to educated people about the slime that is just under the surface. No doubt that there are some very dirty people on WS and they need to be flushed out. They have taken advantage for so long now that they have brought a regulatory storm down upon themselves and I am afraid it will not all be positive for the retail trader when all is said and done.

One thing though, I seriously doubt that Renaissance pulled $5B based on anything that Faber said. There is more to the whole BSC fiasco than is currently known and I look forward to reading the book (or maybe court transcript who knows) in a year or two to find out what really happened.

 

[flytiger]

Quote from Mvic:

Fly, I appreciate you bringing these things to the fore and your dedication to seeing the system cleaned up and trying to educated people about the slime that is just under the surface. No doubt that there are some very dirty people on WS and they need to be flushed out. They have taken advantage for so long now that they have brought a regulatory storm down upon themselves and I am afraid it will not all be positive for the retail trader when all is said and done.

One thing though, I seriously doubt that Renaissance pulled $5B based on anything that Faber said. There is more to the whole BSC fiasco than is currently known and I look forward to reading the book (or maybe court transcript who knows) in a year or two to find out what really happened.

You won't be able to afford a book.

If Mitchell said it, it happened. He's not Einhorn having a ghost pound out some piece of shit to line his pocket. But for you, I'll call. How's that?

 

[flytiger]

Faber was part of, but not all, of the equation. More is coming.

 

[Now is Now]

Quote from buylo:

Tru dat. The CEOs are just as full as gas as the reporters on CNBC. Remember when the Thornbug nut said they had plenty of capital? That was at $10-$11.........now at $.23.

40:1 leverage and your CEO spoking dope and playing bridge is a bigger issue then Faber or Gas-poor-ino.

I thought all these banks said they were done with write offs last quarter. Oops, no.

Who do we believe?

The reason the banks are not done with the write offs is simply because they cannot determine the real value of their assets as there are NO buyers.

Believe me we are nowhere near the bottom of this fiasco...to determine the true value of the share price of any financal institute at this time is near impossible.It can never be properly determined while they continue to pay dividends as they continue to borrow funds from various sources , thereby depleting shareholders' equity.

It is crazy.

 

[buylo]

Quote from Now is Now:

The reason the banks are not done with the write offs is simply because they cannot determine the real value of their assets as there are NO buyers.

Believe me we are nowhere near the bottom of this fiasco...to determine the true value of the share price of any financal institute at this time is near impossible.It can never be properly determined while they continue to pay dividends as they continue to borrow funds from various sources , thereby depleting shareholders' equity.

It is crazy.

I certainly agree with what you're saying. Alot of these guys at the banks were just trying to stave off sellers by saying in December that most of the writeoffs were done.

In your same vein, during the Goldman conference call the CFO kept saying stuff about mark to market and i'm thinking to myself, what illiquid non-OTC market are they fucking marking this to!