Comments on naked capitalism: Quelle Surprise! Wall Street Reluctant to Borrow a...

I'm with you, Anonymous at 7:34 AM. Plus I have a ...

2008-03-19T19:04:00.000-04:00

I'm with you, Anonymous at 7:34 AM. Plus I have a big stack of copier paper right here that's at least as valuable as the paper the banks are putting up as collateral.

The wall street crack smokers do not like to do bu...

2008-03-19T16:22:00.000-04:00

The wall street crack smokers do not like to do business in broad daylight, they like instead the old days when no one was watching. This is a fun game, where Helicopter ben offers free coke, but no one takes the bait...LOL! Cat and mouse with a systemic collapse versus someone taking charge and playing hardball. This scam is not how you re-build confidence, faith or trust, but it does make everyone even more suspect!

From Alea blog..."Fischer Black on Monetary Polici...

2008-03-19T10:50:00.000-04:00

From Alea blog...

"Fischer Black on Monetary Policies
Active monetary policies creates opportunities for speculators, but have no significant macroeconomic effects
"

Per Beth Callan (LEH CFO) the haircuts on colalter...

2008-03-19T09:51:00.000-04:00

Per Beth Callan (LEH CFO) the haircuts on colalteral are VERY attractive. LEH balance sheet is stuffed to the hilt with bad paper - I suspect this wasn;t the last run on them

yvesis this one nonrecourse or general obligation?...

2008-03-19T09:44:00.000-04:00

yves

is this one nonrecourse or general obligation? the borrowing windows are general obligation, im almost sure, and one of the new term repo deals was nonrecourse...

is it the case that primary dealer X can post collateral given it by counterparty Y on a nonrecourse basis so the entire risk is on the fed or would primary dealer X still be liable for undercollateralization

this is a huge big deal if its nonrecourse as it confirms that between this and fannie/freddie the govt has agreed to virtual bailout by stuffing the risk in agencies and the fed such that it will "have" to bail them if they blow but until then it looks like the govt isnt bailing...

CNBC reporting that LEH and GS have already gone t...

2008-03-19T09:19:00.000-04:00

CNBC reporting that LEH and GS have already gone to the window. Then again it is CNBC. Nevertheless, some brokers out with notes talking about mas further writedowns on the $80B portfolio of mortgages on LEH balance sheet. Another PIMCO shill on TV this morning pumping dea of buying mortgages to put a floor on house prices.

If the FED wants to remove the stigma from using t...

2008-03-19T07:34:00.000-04:00

If the FED wants to remove the stigma from using the discount window, they should open it to everyone one. I don't know about you but I think it would be kewl to have an account at the FED.

with rumors abounding that there were multiple bid...

2008-03-19T07:16:00.000-04:00

with rumors abounding that there were multiple bidders for Bear thew new facility has the appearance of hush money. Also note both Lehman and Goldman openly cheered the "cheap" financing on their calls. Lehman will go make no mistake and GS will too. I think the whole stigma is overdone at this point. don;t you think. For those not yet attune to their acions they bailed out bear, have fofrestalled a run on Lehman for now and are bailing out the commercial banks to the tune of $500 plus bilion. If they are worried about stigma there is something seriously wrong.