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Genesis Posts: 71432 Incept: 2007-06-26 
KD^2 
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http://market-ticker.denninger.net/2008/....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2008-04-09 14:16:02
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Watermelon Posts: 674 Incept: 2007-12-23 
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Where did you get that avatar?! haha, creative.
2008-04-09 19:29:08
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Isaac Posts: 535 Incept: 2007-07-27 
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Karl, In tonights video you say that you've never been in the camp of a big bank going to zero until maybe now if Citi keeps on acting stupid. I thought a big bank going to zero was part of your thesis all along before we reach bottom. Please clarify..Thanks ---------- "Diversity: a Propaganda Mechanism used discriminate against white males, flood the country with illegal aliens, and indoctrinate your child into thinking that being gay will make them a better artist" --ME!
2008-04-09 21:06:19
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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Investment bank. We already had one. What I meant by it was that I wasn't intending to short them to zero. I might have to change my mind on that. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2008-04-09 21:44:53
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Newbtrader Posts: 3261 Incept: 2007-08-24
Bubbleville, VA Online
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Karl, who criticized you for being an "IT guy" and therefore you wouldn't understand the situation? All I have to say to them is  I hate ******s that use the pathetic "appeal to authority" fallacy to try and discredit others, or give undue weight to their weak argument. Preach on brother. I've done my fair share of internet arguing/debating myself, and it NEVER ceases to amaze me how people are so ****ing stupid and ignorant that they can't argue the point, and have to resort to baseless attacks. Sorry for the rant, but I've come to learn that an "expert" or "professional" can be useless (or worse than useless because people will use this title to support illogical points). Don't mind the haters.. but fortunately you don't let them bother you. Too many ****ing crooks out there are getting upset because you're telling it how it is. ---------- "So try and figure this **** out. Catholic men and jewish women, no hats. Catholic women and jewish men, hats. Somebody's got the whole thing totally ****ing backwards." -George Carlin Last modified:
2008-04-09 22:23:52 by newbtrader
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Naomi_cas Posts: 636 Incept: 2007-08-17
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"The beginning of subprime Securities Market Began as `Group of 5', including Rajiv Kamilla, a trader at Goldman Sachs Group Inc. with a background in nuclear physics..." http://www.bloomberg.com/apps/news?pid=2.... (December 17, 2007) so what is that point with "There are some catcalls coming from certain corners claiming that "a guy with an IT background can't get this right." ?? Do they think the group of 5 screwed up too? (after all, BSC people were part of it too) or is it that they cannot imagine how others can "float" from one discipline to another? hello, it happens all the time in science, and those cross-overs are often what produces the best innovations... I would not pay any attention to these kind of comments (too busy getting my trades right)... of course unfortunately KD has to pay attention, because he puts himself on the stage and under the lights! ---------- About the pan-galactic junk-CDO blaster: with friends like this, capitalism needs no enemies
2008-04-09 23:29:04
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Gatearrayed Posts: 594 Incept: 2007-06-27
Morristown, NJ
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loved the riff on financial engineering! you are the Doctor of Reality:)
2008-04-10 05:03:13
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Naomi_cas Posts: 636 Incept: 2007-08-17
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I do not think there is a debate that they knew exactly what the risks were. Securization was created + escaladed exactly at the time home buyers pool was drying up" (see Bloomberg above) hence finding new buyers, everybody knew meant allowing the risky buyers to enter the market. Did anyone believed it was risk free? NOT A CHANCE!!! but they thought they had TIME. They knew there was a risk to stretch the rubber band too much, they just failed to assess at what point it was, and how fast it would boomerang back on their noses. I remember reading on Institutional Risk Analytics this comment from a banker: "you want to hope you can be out of that shop before you see the credit SPREADS increase" (dated early 2007 or late 2006). No comment needed. They also probably thought there would be warning signs: like the credit card defaults would rise first. What does it mean that people dumped their houses before they stopped paying the c.cards? it means people KNOW there is not a chance they can EVER afford the house they "bought" (unless ongoing price increases from utopia). That even a third job is not going to help them out of a temporary squeeze. It means there is real trouble: that overall refis are not going to work. That the only way people could get out of trouble is to increase their stable cash inflow. A long process. ---------- About the pan-galactic junk-CDO blaster: with friends like this, capitalism needs no enemies
2008-04-10 11:49:05
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Mobosox Posts: 679 Incept: 2007-07-19
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Hew newbie..why is it all your baseless attacks begin with a reference to "******s? Clearly an ad hominem attack is all you are capable of
2008-04-11 05:00:12
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