Merrill the next Enron?

[PARACLESE]

Quote from makloda:

"Everything is in order. We didn't cook the books. As I speak to you right now the infidels of the SEC are being slaughtered by our own men."

buddy, you have some of the funniest posts. good work! p

 

[Mup]

One of the cleverest posts in a while makloda

 

[flyingiguana]

Quote from scriabinop23:

they actively denied this and stated they revealed offbook writedowns in the latest earnings.

That would blow me away if Merrill was no longer.

If I had to bet on an Enron, I'd say its goldman. When its too good to be true, it probably is.

If goldman somehow successfully entirely hedged their ABX exposure to the point of zero loss when not one other player was capable of it, that stinks like a rat.

i'm sure they had plenty of time to get out. the housing market was like a big domino effect. housing stocks peaked in 05 and then it was downhill from there. i just can't believe with all those 'smart' people those banks hire they couldn't see this coming?

i forget who said it but you can put lipstick on a pig, but at the end of the day it still rolls around in ...

 

[flytiger]

Quote from flyingiguana:

i'm sure they had plenty of time to get out. the housing market was like a big domino effect. housing stocks peaked in 05 and then it was downhill from there. i just can't believe with all those 'smart' people those banks hire they couldn't see this coming?

i forget who said it but you can put lipstick on a pig, but at the end of the day it still rolls around in ...

Seeing it coming and stopping or reversing are two different things. Think of the amount of money being generated. Countrywide took 15 pts out of those shitty loans. Now, think of the middle management stacked up, and guys making ten times as much as they ever thought they'd make. Then, there is a guy looking down from the top. "A" produces X. "B", X to the third power. "Hey, "A", what's with you?" Pick it up or you're fired."

What do you think happens next? They always kill the goose that lays the golden egg, don't they. Unfortunately, they killed us too.

 

[ASusilovic]

Quote from makloda:

"Everything is in order. We didn't cook the books. As I speak to you right now the infidels of the SEC are being slaughtered by our own men."

LOL !!!!

 

[NYOBScalper]

Quote from atticus:

GS came out today and categorically-denied any write-offs on debt. No way in hell there is any smoke at GS. They are simply that good.

I think GS just makes their money through honest hard work; buying before upgrades, selling before downgrades, front running hedgefund orderflow through their prime brokerage, and trading on knowledge of future M&A deals. No need for all the risky exposure Mer has.