He was only 39.9 billion off!
Stress Test Leak: BAC Needs $34 Billion In Capital
- Thread starter MrDODGE
- Start date
He was only 39.9 billion off!
What if this is just another bear trap and when news does come out Thursday we find out that banks wont need a dime, I could just imagine the cheers on wallstreet now, DOW 10k in only a few hours from there on.
Thats what the bulls are wishing for, however this time the rally fades twice as fast as it began, dont be taken by surprise when you see 7 handles on both the DOW and S$P. NEW LOWS WILL COME, get ready as volatility takes center stage.
Thats what the bulls are wishing for, however this time the rally fades twice as fast as it began, dont be taken by surprise when you see 7 handles on both the DOW and S$P. NEW LOWS WILL COME, get ready as volatility takes center stage.
I do not even read ET much anymore, but with the overnight future's sudden drop I took a peek and am a bit surprised at what I saw.
Those in ET land may have been humbled. For the last 2 years they droned on about every aspect that pumped the chest ignoring the fact that this 50% market decline nailed almost every account to the floor.
Now those (at least on the thread) have the tone OF SENSE that the masses like at MarketWatch, etc. have. It is healthy and honest as the next step to actually gaining "elite" status and actually be profitable.
Everyone on this thread continues to ooze frustration on how they must have missed the 30% move up by the market and of course all the conspiracy theories that support their side.
The market has a way of humbling everyone. That now leaves only the <i>daunting</i> task of finding a way to truly "beat the market".
Those in ET land may have been humbled. For the last 2 years they droned on about every aspect that pumped the chest ignoring the fact that this 50% market decline nailed almost every account to the floor.
Now those (at least on the thread) have the tone OF SENSE that the masses like at MarketWatch, etc. have. It is healthy and honest as the next step to actually gaining "elite" status and actually be profitable.
Everyone on this thread continues to ooze frustration on how they must have missed the 30% move up by the market and of course all the conspiracy theories that support their side.
The market has a way of humbling everyone. That now leaves only the <i>daunting</i> task of finding a way to truly "beat the market".
This quote applies to the market over the past few months.
".. in the big lie there is always a certain force of credibility; because the broad masses of a nation are always more easily corrupted in the deeper strata of their emotional nature than consciously or voluntarily; and thus in the primitive simplicity of their minds they more readily fall victims to the big lie than the small lie, since they themselves often tell small lies in little matters but would be ashamed to resort to large-scale falsehoods. It would never come into their heads to fabricate colossal untruths, and they would not believe that others could have the impudence to distort the truth so infamously. Even though the facts which prove this to be so may be brought clearly to their minds, they will still doubt and waver and will continue to think that there may be some other explanation."
âAdolf Hitler , Mein Kampf, vol. I, ch. X[1]
*Taken from another forum
".. in the big lie there is always a certain force of credibility; because the broad masses of a nation are always more easily corrupted in the deeper strata of their emotional nature than consciously or voluntarily; and thus in the primitive simplicity of their minds they more readily fall victims to the big lie than the small lie, since they themselves often tell small lies in little matters but would be ashamed to resort to large-scale falsehoods. It would never come into their heads to fabricate colossal untruths, and they would not believe that others could have the impudence to distort the truth so infamously. Even though the facts which prove this to be so may be brought clearly to their minds, they will still doubt and waver and will continue to think that there may be some other explanation."
âAdolf Hitler , Mein Kampf, vol. I, ch. X[1]
*Taken from another forum
The most ridiculous point at all is the announcement from Bernanke that "PRIVATE CAPITAL" shall be used to raise capital for all these failed banks FIRST.
WTF does he think is to invest into a company having still billions of level 3 asets and off balance sheet risks on their "portfolio" ?
WTF does he think is to invest into a company having still billions of level 3 asets and off balance sheet risks on their "portfolio" ?
$10 billion, or $34 billion, or $340 billion. ...
The numbers are irrelevant. Everybody knows that on a mark to market basis, the major banks in this country are insolvent. Its a fact.
Another fact, is that the "authorities" have drawn a line in the sand that these institutions and their debt is guaranteed.
Its Alice in Wonderland out there. The banks are f-ed and the economy is f-ed, but none of that matters. Money is being printed and rules are being made up as we go along. Short equities here and die.
The numbers are irrelevant. Everybody knows that on a mark to market basis, the major banks in this country are insolvent. Its a fact.
Another fact, is that the "authorities" have drawn a line in the sand that these institutions and their debt is guaranteed.
Its Alice in Wonderland out there. The banks are f-ed and the economy is f-ed, but none of that matters. Money is being printed and rules are being made up as we go along. Short equities here and die.