- Now, Where's the Market Headed? (Chart)
- Fantastic Melrtdown Slide Show, (H/T Dogs)
- Wells Fargo Executives, Nothing but the Best (H/T Cat, Possible Repost, Video)
- So Much For High Frequency Trading
- Where are the Sailboats?
- I Pledge Allegiance to the Debt (Seen on The Coming Depression blog)
- Iowa Attorney General: "Option ARMs are about to explode"
- Congressman Grayson: Fed Secretly "Stuffed" $500 Billion into "Foreign Private Pockets" and Gave $230 Billion to Citi "As a Secret Bailout" (H/T Jeff Borsuk)
- Enron Accounting and not by Arthur Anderson
- Garbage In & the Good Get Out
- There is a God: More Cable Bandwidth for Bloggers
Now, Where's the Market Headed? (Chart)
"[The impact of] problems in the subprime market seems likely to be contained." ~ Bernanke
The Securities and Exchange Commission has proposed halting high frequency and flash trading.
In response, Nasdaq (and others) are now prohibiting flash orders. Supposedly, the NYSE is also considering banning the practice.
This was a given. The real question that remains unanswered and demands a thorough investigation is this: WHAT EXCHANGE OFFICIALS APPROVED THIS? WHO BELIEVED THAT ALLOWING FAVORED FIRMS TO FRONT RUN OTHER INVESTORS WAS OK?
Quite bluntly, the clueless dolts who allowed this to occur need to be publicly excoriated, fired from their job as exchange officials, and driven out of town on a rail. Oh, and, all the gains from this organized theft should be clawed back from all the front-running firms that stole this money — THAT’S RIGHT, ITS THEFT — one quarter cent at a time. Put the recovered ill-gotten gains into the SIPIC fund that compensates investors who have been defrauded by their stock brokers.
Stop for a moment to consider what sort of massive disregard for the investing public is required to permit this kind of trading. The sheer hubris that finds no problem in this exchange permitted encouraged theft is hard to fathom.
One of the problems with the most recent crisis is that there have been no shaming of the responsible parties, no disgorgement of ill gotten gains, no perp walks. We need to change that pronto.
omething more modest, perhaps? How about:
Price: USD $0-50,000
That gets you 29 choices.
As I have noted many times in the past, I am a big believe in being a counter-cyclical spender. I try not to buy stuff when the economy is on fire and everything is overpriced. I don’t believe in using excess credit (Like these folks that ended up having their boats repo-ed)
This year, I have been selectively shopping for , and occasionally buying, whatever I thought was priced right — especially distressed merchandise.
I Pledge Allegiance to the Debt (Seen on The Coming Depression blog)
In Arizona, 128,000 of those mortgages will reset over the the next year and many have started to adjust this month, the state's attorney general, Terry Goddard, told Reuters after the meeting.
"It's the other shoe," he said. "I can't say it's waiting to drop. It's dropping now."
This was a meeting of state AGs discussing mortgage scams with the Obama Administration, and based on the comments, there was an emphasis on Option ARMs.
I guess that deserves a Hoocoodanode?
Just a few weeks ago, while Chairman Bernanke was testifying to Congress, we examined the Fed balance sheet and P&L statement only to find what looked like the Fed handing over half a trillion dollars to foreigners. This was very surprising! When I asked Chairman Bernanke if this was true, he said, “Yes.” When I asked him who got the money, he said, “Fourteen foreign Central Banks.” And when I asked to who did they give the money, he said, “I don’t know.” “I don’t know” is not good enough when you’re talking about $500 billion. That’s $1700 for every man, woman, and child in this country...
It got sold all right - right at the "120 day" late point where Wells counts a loan as "defaulted."
But look at who it got sold to..... (click for a larger copy)
Yes, Wells bought the loan from.... itself?
Annual Decline In CNBC Viewership Accelerates: Down 37% In Overall Viewers Category
There is a God: More Cable Bandwidth for Bloggers
The change is effective immediately. So Mr. Kneale will not get a chance to say goodbye to his 8 p.m. audience. Nor will he get to take one final shot at anonymous bloggers.