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Genesis Posts: 66463 Incept: 2007-06-26 
Royal Flush! 
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http://market-ticker.denninger.net/2007/....
---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2007-12-22 00:59:39
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Justinjacob Posts: 812 Incept: 2007-07-07 
NEW JERSEY
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Great ticker bud.....
---------- San Francisco, the cesspool of the world and fudgepackers paradise! 2007-12-22 01:10:38
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Cplus Posts: 170 Incept: 2007-07-18
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Thanks for the commentary, Karl. Always enjoy reading it. As each short Libor comes within range of year end, it spikes and shares the burden with the other slightly longer term Libors. This happened to 1 week today as it has previously happened to 2 week, 3 week, 1 month, and 2 month, and of course the key 3 month. Taken together as a weighted average, much greater pressure and premia are apparent than is normal for a year end, in spite of attempts to turn the central banks and global treasuries into a liquidity enhancement substitute for the recently departed Super Siv. The fact that most global credit measures widened in the past week, with the narrow exceptions of some Emerging and Japan, is another big tell on how hairy things are getting. Performing worst of all was Australia, where a Labor government has not yet inspired much confidence. 2007-12-22 02:25:34
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Bear Posts: 6466 Incept: 2007-07-10 
SoCal, and my avatar is so ****ing small you cant see it
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Excellent ticker Amigo ! I truly love your style. Oooorah. ---------- Cause GS got all the beef.....Mliu 2007-12-22 12:55:37
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Ailujailuj Posts: 9088 Incept: 2007-08-22
NYC --->LA
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thank you G.....
---------- "Political correctness is a doctrine, fostered by a delusional, illogical minority, and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a turd by the clean end." ...courtesy of vegasgirl 2007-12-22 17:55:31
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Stormsailor1981 Posts: 8447 Incept: 2007-06-26
charlotte nc
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good stuff gen. now if the spx will just fall off the cliff i'll have a happy new year.
---------- "one man with courage makes a majority" andrew jackson 2007-12-22 18:14:19
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Mrgone Posts: 1407 Incept: 2007-09-15
Exile Online
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Justin, quick question, do you love Hillary so much that you need her as your avatar?
---------- “I hope we shall... crush in its birth the aristocracy of our moneyed corporations which dare already to challenge our government in a trial of strength, and bid defiance to the laws of our country.” — Thomas Jefferson, 1816 Sorry about that Tom 2007-12-22 18:28:01
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Widgeon Posts: 5671 Incept: 2007-08-30
OK
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Spot-on w/ the Ticker. So important to differentiate between the words and the actions. FWIW, the eateries in my area are sending employees home early and also sending staff home before they've even started their shift (but waiting until they show-up) because of lack of business. 2007-12-22 20:50:15
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Widgeon Posts: 5671 Incept: 2007-08-30
OK
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How long, really, possibly, can this CDO situation continue w/o actually leading to an actual blow-up? Seems to me it ought to have been immediate ... obviously I'm wrong. But, how long can the reindeer game go on? Does anyone think it can go past January? 2007-12-22 21:12:56
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Downrange Posts: 4656 Incept: 2007-09-26
... best clear on out the back
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Fantastic ticker, makes me take heart with all the puts I bot Fri. Including a few of those Jan. 20 VIX, thanks, Gen!
---------- "Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works" John Mills 2007-12-22 22:05:54
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Bubblesee Posts: 3620 Incept: 2007-06-27
nyc
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Widgeon: **** hits the fan in Jan. - no doubt about it! However i hope i can stay solvent on my index puts and futures as long as the markets can remain irrational in the meantime - LOL! Gen: Great ticker once again at a clutch time! I have to say i agree with you 100% regarding Bush's statements both this past week and a few weeks earlier (regarding Fannie Mae etc.). Its a nice feeling every so often to be able to agree with the powers that be. However one thing i've noticed about politicians as a whole over the years (and Bush is certainly no exception) is that out of the few and far between times that they SAY what i agree with their is an even FAR LESS percentage which they ACTUALLY DO it or do what is necessary to get it done. Unfortunately with Dubya's track record i'm forced to lean toward the expectancy that his talk is going to be WAY bigger than his action. Even though i certainly hope for the opposite. ---------- Ticker Forum Special: "Bennie and the Feds" Melody:Elton John Lyrics:Bubblesee http://www.youtube.com/watch?v=etfVMtCq9Oc (Larry Kudblow eat your heart out) Last modified:
2007-12-22 23:27:36 by bubblesee
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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Well, if you didn't notice, he threw Paulson under the bus with that comment.
---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2007-12-22 23:49:58
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Lakeshorelady Posts: 5191 Incept: 2007-08-17
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But seriously we have to answer the topic question, Yes we believe in Santa Claus!!!!!!!!! Give an extra hug to everyone special in your life and have a Merry Christmas 2007-12-23 00:01:03
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Peace Posts: 688 Incept: 2007-07-09
San Diego
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My family was at UTC mall in San Diego today, and it was packed. The Apple store was packed as always, and people were buying lots of computers. Bebe and Sephora were packed, nothing on sale except the sweaters at Bebe were 50% off (except the new inventory, which was full price). I think we have a 2 tier economy, like we have a 2 tier housing market. Some areas are very hard hit, others only slightly hit (like UTC), while the luxury retailers I hear are having an excellent year. Same with housing, as the people with money are buying in the prime areas, ie those with the good school districts, while the condos and outlying areas and subdivisions built in 2004 and later are getting hammered. How long before this ripples out? How long before the August credit crunch returns? Seems like the Fed has calmed the markets. So have foreign investors. Lenders found a new friend in the Federal Home Loan Banks and the discount window. So a reprieve in the credit markets. Tension exists, but it's not to the August panic level. 2007-12-23 00:19:04
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Murf Posts: 2360 Incept: 2007-08-28
the surf
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Gen, Excellent, excellent ticker. I'm going to write the SEC and my representatives - again, and focus on this ratings farce. It IS truly unbelievable that this inbred, self-serving system has any credibility left at all. Does anyone have any practical ideas for creating an independent rating system - or should we trash them all and stress "buyer beware"? ---------- ...comedic mayhem ensues... 2007-12-23 01:25:13
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Peace Posts: 688 Incept: 2007-07-09
San Diego
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Murf, this is what you do: End the government-sponsored cartel of the ratings agencies. HR 2990, Credit Rating Agency Duopoly Relief Act, which was badly needed!!!, never became law. Not sure why. http://www.govtrack.us/congress/bill.xpd.... To be a ratings agency, you need a special designation, that is almost impossible to get. Further, to rate a series of bonds, you need access to the data, which the originators do not give out due to "confidentiality", so this way they give it only to the ratings agency in their back pocket. A few months back, I followed the testimony about ratings agencies in Congress. You might get more answers from Alex Pollock, who testified at many of the hearings: http://www.aei.org/publications/pubID.22.... Last modified:
2007-12-23 03:51:04 by peace
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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The solution to the second problem is to enforce Reg-FD on the credit markets.
---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2007-12-23 11:20:30
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Oxfordrick Posts: 2550 Incept: 2007-07-09
san diego
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Right - excellent article in Barron's by Jonathan Laing on the credit rating agencies. How much longer can MCO and S&P enjoy profits equal to 50% of revenues? 2007-12-23 14:33:24
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Bubblesee Posts: 3620 Incept: 2007-06-27
nyc
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Gen, Yes - i submit Paulson as exhibit A - LOL!!! What he says (at least in the quote i use) does great to sum up the situation. Yet what he's DONE about it plus $2 will get you a large cup of coffee at Dunkin Donuts! ---------- Ticker Forum Special: "Bennie and the Feds" Melody:Elton John Lyrics:Bubblesee http://www.youtube.com/watch?v=etfVMtCq9Oc (Larry Kudblow eat your heart out) 2007-12-23 17:32:55
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Nightowl Posts: 2187 Incept: 2007-06-26
R U an American or an American't?
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Great ticker Gen. not sure if you mentioned it (I may have fallen asleep during the technical  ) but we also have declining volume versus rising price in the indices. Looking forward to the next leg down. Merry X-MAS to you and your family and the ticker forum crowd.
---------- “There comes a time when one must take a position that is neither safe, nor politic, nor popular but he must do it because conscience tells him it is right.”-MLK 2007-12-23 23:05:52
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Keepingmyoptions Posts: 238 Incept: 2007-10-21 CA
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The thin trading in the coming week makes a rally look more likely till year end. Remember the overnight pump on no volume on Thursday night? Think a week of that happy horse hockey. Then finally el dumperoo. Wear down the putters while they are on the beach. ---------- We are in a bicycle economy. The only way to stay solvent is to keep trading, or tip over. 2007-12-23 23:41:55
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Architect Posts: 770 Incept: 2007-07-11
london UK
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Happy Christmas everyone 2007-12-24 13:35:02
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Beachbum Posts: 138 Incept: 2007-12-24 Punta Gorda Banned
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I sure do, except he is now asian, and has changed his name to SOVEREIGN FUND. He still wears RED though! haha
2007-12-24 16:41:43
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