Comments on: S&P Drops $534 Billion Bombshell http://www.nakedcapitalism.com/2008/01/s-drops-534-billion-bombshell.html Sun, 22 Nov 2009 02:09:47 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Yves Smith http://www.nakedcapitalism.com/2008/01/s-drops-534-billion-bombshell.html#comment-3565 Yves Smith Thu, 31 Jan 2008 05:40:00 +0000 http://www.nakedcapitalism.com/2008/01/sp-drops-534-billion-bombshell/#comment-3565 foesskewered,<br/><br/>It would be a bit late for the FT, although I've seen them put up stores between midnight and 2:00 AM their time upon occasion. The Journal has it but the headline is a tad innocuous: "<a HREF="http://online.wsj.com/article/SB120172927286229795.html?mod=hpp_us_whats_news" REL="nofollow">S&P Ramps Up Mortgage Downgrades</a>" foesskewered,

It would be a bit late for the FT, although I’ve seen them put up stores between midnight and 2:00 AM their time upon occasion. The Journal has it but the headline is a tad innocuous: “S&P Ramps Up Mortgage Downgrades“

]]> By: foesskewered http://www.nakedcapitalism.com/2008/01/s-drops-534-billion-bombshell.html#comment-3564 foesskewered Thu, 31 Jan 2008 05:30:00 +0000 http://www.nakedcapitalism.com/2008/01/sp-drops-534-billion-bombshell/#comment-3564 Yves, that story is completely absent in wires around asia and hasn't made it to the FT (last looked at an hour ago). What's funnier is whilst the BOE is praised for the King reappointment , Darling is all for "covert" (as quoted from the FT) bank rescues, limited as they be, limited by what? investor interest? Yves, that story is completely absent in wires around asia and hasn’t made it to the FT (last looked at an hour ago). What’s funnier is whilst the BOE is praised for the King reappointment , Darling is all for “covert” (as quoted from the FT) bank rescues, limited as they be, limited by what? investor interest?

]]> By: tom a taxpayer http://www.nakedcapitalism.com/2008/01/s-drops-534-billion-bombshell.html#comment-3563 tom a taxpayer Thu, 31 Jan 2008 05:22:00 +0000 http://www.nakedcapitalism.com/2008/01/sp-drops-534-billion-bombshell/#comment-3563 Incredible! Now the Feds are aiding and abetting bank fraud and cover-up of bank losses. <br/>Excerpts from Jan 30 Bloomberg article by Jonathan Weil.<br/><br/>"Just when it seemed as if the mortgage mess had hit a new low, now comes this: The Securities and Exchange Commission's staff has granted the subprime-lending industry a huge exemption from the normal rules for off-balance- sheet accounting.<br/>In effect, the move will let home lenders keep their balance sheets looking much smaller and less leveraged, even while the off-the-books loans they made get a makeover."<br/>http://www.bloomberg.com/apps/news?pid=20601039&sid=aPSScH5rRBLM&refer=home<br/><br/>This is a must read article, but please, lay down and take your blood pressure medication before reading the article. Your blood will boil. Incredible! Now the Feds are aiding and abetting bank fraud and cover-up of bank losses.
Excerpts from Jan 30 Bloomberg article by Jonathan Weil.

“Just when it seemed as if the mortgage mess had hit a new low, now comes this: The Securities and Exchange Commission’s staff has granted the subprime-lending industry a huge exemption from the normal rules for off-balance- sheet accounting.
In effect, the move will let home lenders keep their balance sheets looking much smaller and less leveraged, even while the off-the-books loans they made get a makeover.”
http://www.bloomberg.com/apps/news?pid=20601039&sid=aPSScH5rRBLM&refer=home

This is a must read article, but please, lay down and take your blood pressure medication before reading the article. Your blood will boil.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/01/s-drops-534-billion-bombshell.html#comment-3562 Anonymous Thu, 31 Jan 2008 04:50:00 +0000 http://www.nakedcapitalism.com/2008/01/sp-drops-534-billion-bombshell/#comment-3562 Anybody get this?<br/><br/><br/>TABLE-U.S. M-2 money supply down $16.9 bln Jan 14 week<br/>Thu Jan 24, 2008 4:30pm EST<br/><br/>http://www.reuters.com/article/companyNewsAndPR/idUSNAT00364220080124<br/><br/>NEW YORK, Jan 24 (Reuters) - U.S. M-2 money supply fell by<br/>$16.9 billion in the January 14 week to $7,440.8 billion, the<br/>Federal Reserve said on Thursday. Anybody get this?

TABLE-U.S. M-2 money supply down $16.9 bln Jan 14 week
Thu Jan 24, 2008 4:30pm EST

http://www.reuters.com/article/companyNewsAndPR/idUSNAT00364220080124

NEW YORK, Jan 24 (Reuters) – U.S. M-2 money supply fell by
$16.9 billion in the January 14 week to $7,440.8 billion, the
Federal Reserve said on Thursday.

]]> By: Yves Smith http://www.nakedcapitalism.com/2008/01/s-drops-534-billion-bombshell.html#comment-3561 Yves Smith Thu, 31 Jan 2008 04:49:00 +0000 http://www.nakedcapitalism.com/2008/01/sp-drops-534-billion-bombshell/#comment-3561 Anon of 11:01 AM,<br/><br/>Bizarrely, you may still have a chance. Asian markets are up. The fact that the story isn't getting play means that investors still seem to be sitting pat (at least as of this hour). Anon of 11:01 AM,

Bizarrely, you may still have a chance. Asian markets are up. The fact that the story isn’t getting play means that investors still seem to be sitting pat (at least as of this hour).

]]> By: Anonymous http://www.nakedcapitalism.com/2008/01/s-drops-534-billion-bombshell.html#comment-3556 Anonymous Thu, 31 Jan 2008 04:01:00 +0000 http://www.nakedcapitalism.com/2008/01/sp-drops-534-billion-bombshell/#comment-3556 Amazing but this story is not getting much press on the web or TV this evening. I only wish I shorted more financial and SRS before the close. Amazing but this story is not getting much press on the web or TV this evening. I only wish I shorted more financial and SRS before the close.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/01/s-drops-534-billion-bombshell.html#comment-3549 Anonymous Thu, 31 Jan 2008 00:10:00 +0000 http://www.nakedcapitalism.com/2008/01/sp-drops-534-billion-bombshell/#comment-3549 1/2 a trillion and getting closer to reality and the impact on GDP of $13 Trillion; this is not just another week on wallstreet with a few Fed cuts, this is a meaningful, material and friggn very real and the derivative market should be shut down before more chaos expands out of total control! We need to put a stop to synthetic non-reality and put these lobby creeps in jail and restructure government from top to bottom layers and defend America from this stealth destruction! 1/2 a trillion and getting closer to reality and the impact on GDP of $13 Trillion; this is not just another week on wallstreet with a few Fed cuts, this is a meaningful, material and friggn very real and the derivative market should be shut down before more chaos expands out of total control! We need to put a stop to synthetic non-reality and put these lobby creeps in jail and restructure government from top to bottom layers and defend America from this stealth destruction!

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