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| User Info | PIMCO, The New Face Of Our Financial System in forum [Ticker] | |||
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Genesis Posts: 66463 Incept: 2007-06-26 
Royal Flush! 
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http://market-ticker.denninger.net/archi....
---------- 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 2008-08-22 09:11:56
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Cworsf Posts: 622 Incept: 2007-11-12 
Juneau, Alaska
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Nice job KD, I wish I had a 1/10th the energy you have.
---------- "If you're in a bad marriage, get out of it -- changing things won't kill you, but staying in a bad marriage may kill you" Richard Russell 6/26/2009 2008-08-22 09:42:48
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Asimov Posts: 21231 Incept: 2007-08-26
east tennessee Online
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Uhg, that's just disgusting. I hope to hell paulson grows some balls and tells them that they sat on it knowing it would crawl up their ass and start carving off chunks from the inside.
---------- It's justifiably immoral to try to deal in a moral fashion with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente. 2008-08-22 10:00:55
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Pauperbear Posts: 1256 Incept: 2008-01-22 
norwalk, ct
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Karl great ticker on the facts. Constructive critisism though: save the dogsqueeze and "getting it in both holes" references for the boards. you diminish your credibility with a wider audience when you put those kind of references in docs that get faxed to congress and news orgs. I think you've been a great leader in this movement but you don't seem to have the following of some of your counterparts (Mish, Roubini) that arn't as colorful and discriptive in the language they use...coincidence? just sayin...take it for what its worth.
---------- The truth is incontrovertible, malice may attack it, ignorance may deride it, but in the end; there it is. Winston Churchill 2008-08-22 10:39:18
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Jethrodull Posts: 23 Incept: 2008-02-25 South Carolina
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If this has already been shown on the board, sorry, but thought it was a perfect visual for Paulson's bazooka - http://www.youtube.com/watch?v=-jSIzshy0.... 2008-08-22 10:44:05
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Dashingdwl Posts: 4039 Incept: 2007-06-26
los angeles
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Moody's cuts Fannie Mae's and Freddie Mac's preferred stock ratings; affirms Aaa senior debt Preferred stock ratings and BFSRs remain on review for possible downgrade New York, August 22, 2008 -- Moody's Investors Service downgraded the preferred stock ratings of the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) to Baa3 from A1 and the Bank Financial Strength Ratings (BFSR) to D+ from B-. The preferred stock ratings and BFSRs remain on review for possible further downgrade. Fannie Mae's and Freddie Mac's Aaa senior long-term debt and Prime-1 short-term debt ratings were affirmed with stable outlooks. The firms' Aa2 subordinated debt ratings were affirmed, but the outlook was changed to negative from stable. ---------- Think Green Tip. 2008-08-22 10:54:53
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Fatso Posts: 1489 Incept: 2008-02-03
Roll on up, gonna roll back down Online
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Quote:save the dogsqueeze and "getting it in both holes" references for the boards. you diminish your credibility... Pauperbear, imho unless there's something to get the reader's attention, it's just more main stream drivel. Plus, I don't think there was any concern with bad language on the Titanic during those last few hours. I believe we are now on the Titanic and it's late. KD has certainly earned the right to use whatever language he wants and it most definitely reflects the dire situation we face. ---------- The most defining theme, and overriding purpose, of the U.S. Constitution is to limit the power of the federal government. Over that, there can be no historical, or textual, debate. - Tickerfan 2008-08-22 11:01:35
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Rtfg Posts: 1900 Incept: 2007-06-26
Bazookaville
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I just threw up a little.
2008-08-22 11:03:30
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Bozonian Posts: 13051 Incept: 2007-09-01
PFT - Pure F'n Tin
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I was thinking Ron Paul, if he wants to really affect people, should just read one or two of the recent tickers to congress. It would help their fragile little minds to understand what's going on. However, he'd have to rephrase a few of the lines. No problem. You wouldn't want to offend the ****suckers who make our laws would you? ---------- If deficits don't matter, then the Federal Government can borrow the money it needs and stop taxing the citizens. Everything I write is my opinion and not to be considered proven fact. Nothing I write should be considered financial advice. Last modified:
2008-08-22 11:39:11 by bozonian
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Skptk Posts: 2 Incept: 2008-05-06 Thousand Oaks, CA
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You have to believe that all of these folks are in cahoots together. Paulson didn't go to China last year to tour the Great Wall or eat dim-sum. I wouldn't be surprised if the whole thing with Pimco wasn't orchestrated beforehand by Paulson. Mother market will eventually give them their just comeuppance. ....I'm watching CNBC and there is a Pimco guy at the Fed offsite. Last modified:
2008-08-22 15:27:23 by skptk
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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. The moral hazard issue is getting out of hand but so did the blatant disregard to sound financial management up and down the ladder. Now we are arguing about how ****ed we are whilst the VIX trades sub 20. Interesting times. Think I'll go drop acid.
---------- “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 2008-08-22 12:12:04
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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Its no longer moral hazard (risks going forward) It has now turned into intentional gaming. Not taking risks - intentionally gearing up in things you then push as "too big to blow". ---------- 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 2008-08-22 12:21:16
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Eldergurl Posts: 46 Incept: 2008-04-05
Connecticut
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Great ticker. Where would I learn the truth if I didn't read the ticker? I loved 'dogsqueeze'. Creative descriptions help and make points strong. ---------- "Until they become conscious they will never rebel, and until after they have rebelled they cannot become conscious."- George Orwell (Nineteen Eighty-Four) 2008-08-22 12:33:13
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Pauperbear Posts: 1256 Incept: 2008-01-22
norwalk, ct
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Fatso, no questioning "the right" to use any language he wants. However, language/actions that keeps you out of the MSN is not helpful. Karl knows this as he cleans up the language on petitions and encourages people to be well dressed when they protest. Constructive critisism is meant to be just that: constructive. Moreover, he can fend for himself better than most so save the sycofantic bs as it helps no one to just be told how great they are....just ask those who have occupied the White House.
---------- The truth is incontrovertible, malice may attack it, ignorance may deride it, but in the end; there it is. Winston Churchill 2008-08-22 12:39:48
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Meatpuddle Posts: 630 Incept: 2007-07-26
Madame Merriweather's Mudhut Malaysia
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You are right KD - PIMCO truly are the biggest *******s in the room and deserve to get it in both holes, along with the Asians and Arabs who have been giant enablers in this whole bubble economy looting operation. You posited a very good question towards the end of the Ticker and that is: "Wouldn't it be ironic if Paulson's "Bazooka" turns out to be what kills the GSEs? The next obvious question is was that Paulson's intended outcome all along?" If Paulson's plan was, in fact, to kill the GSE's (which seems highly probable) wouldn't "adequate compensation" for the Chinese be covered bonds in the 10 new GSE companies that will be created? Isn't this Paulson's actual game plan? The problem is that the IB's and the rest of the domestic banking system really doesn't have the money to re-capitalize a bust of this size. They need foreign capital, and it would make sense if Paulson promised the FCB's (and maybe even PIMCO) a nice slice of the new GSE's in exchange for supporting the treasury market, or more likely a quid pro quo for support of various IB deals (including generating nice fees for the IB's by being middle-men in asset looting operations). Most favored looter is the status these criminals are gunning for. One thing is certain - Paulson will make sure JSP eats the losses and the pigmen will get the good assets and cashflow via the senior debt. ---------- "the idea that you're "entitled" to a 5 or 6 percent 30 year mortgage is horse****, and so is the housing prices that it has created." - Genesis Last modified:
2008-08-22 12:50:04 by meatpuddle
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Financeguy Posts: 4720 Incept: 2007-08-10
Charlotte
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I think the word you are looking for beyond moral hazard is fraud......
---------- "Granted, if you are not into Barbara Streisand and creme brulee, South Beach could be a tad lonely." Eleua 2008-08-22 12:48:09
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Themortgagedude Posts: 3343 Incept: 2007-12-17
saint louis
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Is there anyone on TF who wouldn't get a good chuckle out of Billy Gross taking it  .
---------- Since September it's just gotten colder and colder. There's less daylight now, I've noticed too. This can only mean one thing - the sun is going out. In a few more months the Earth will be a dark and lifeless ball of ice. 2008-08-22 13:01:06
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Bozonian Posts: 13051 Incept: 2007-09-01
PFT - Pure F'n Tin
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For people to give a crap, there has to be a blow job involved, or cruelty to a small furry animal. Can we working something like that into the mix? Maybe, "Fed Bailout of Fannie means Animal Shelter will have to euthanize all the dogs and cats".
---------- If deficits don't matter, then the Federal Government can borrow the money it needs and stop taxing the citizens. Everything I write is my opinion and not to be considered proven fact. Nothing I write should be considered financial advice. 2008-08-22 13:04:31
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Pauperbear Posts: 1256 Incept: 2008-01-22
norwalk, ct
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Micheal Vick should be gettin out soon. Maybe he can be the spokesman.....
---------- The truth is incontrovertible, malice may attack it, ignorance may deride it, but in the end; there it is. Winston Churchill 2008-08-22 13:08:25
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Anti Posts: 1200 Incept: 2007-10-09
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It would be wonderful to see red China et al take some losses on these investements. They distorted our housing market driving rates too low making a market for junk mortgage paper in an effort to keep their export game afloat. Malinvestment all around - in the Austrian sense. Can anyone honestly say that granite countertops were the world's most urgent investment prioity? All the frenetic actvity here from the newly printed debt money also made the excess jobs which drew in hoards of illegals, further screwing things up here.
---------- Goldman Sachs Delenda Est! 2008-08-22 13:09:33
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Bozonian Posts: 13051 Incept: 2007-09-01
PFT - Pure F'n Tin
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Have you seen a granite countertop lately? Those things are niiiiiiice. I want green marble tile from my kitchen floor too.
---------- If deficits don't matter, then the Federal Government can borrow the money it needs and stop taxing the citizens. Everything I write is my opinion and not to be considered proven fact. Nothing I write should be considered financial advice. 2008-08-22 13:11:29
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Bluntfacts Posts: 693 Incept: 2007-10-09 Las Vegas, Nevada
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Pretty good Ticker for Friday 8/22...I especially liked this part: "Wouldn't it be ironic if Paulson's "Bazooka" turns out to be what kills the GSEs? The next obvious question is was that Paulson's intended outcome all along?" SEC regulations prohibit spreading rumors, but it has been my THEORY that this is the intended outcome, with GS and BLK as the beneficiaries. Think about it. How often do companies get a chance to acquire most of the mortage market at one time; and at a discount? If I am wrong on that last sentence, someone say something. ---------- "Will someone come on TV and tell the truth about how bad it is". Jim Cramer August 2007. "We can change the focus to a soft blur; or sharpen it to crystal clarity" The Outer Limits 1964. 2008-08-22 13:14:45
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Meatpuddle Posts: 630 Incept: 2007-07-26
Madame Merriweather's Mudhut Malaysia
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True dat, Anti - agree with your comments. I just want to add that the IB's and the rest of the pigmen cabal were all too happy to play along with the Asians/Arabs for big fun and profit, and now that the bust is on, they will want even BIGGER profits and a bigger slice of the pie. The covered bond fraud is one method where they can **** JSP some more and walk away with piles of RE and good cash-flow paper for literally pennies on the dollar. The odds of the Treasury winding up with any of the good stuff is basically zero, imho. Bluntfacts: you're not wrong. ---------- "the idea that you're "entitled" to a 5 or 6 percent 30 year mortgage is horse****, and so is the housing prices that it has created." - Genesis Last modified:
2008-08-22 13:19:29 by meatpuddle
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Fuzz Posts: 4 Incept: 2008-02-25 ILL
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What is McCulley doing in Jackson Hole? Is he a top or a bottom?
---------- "Moe, Larry the Cheese!" Curly 2008-08-22 15:23:01
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Martin Posts: 676 Incept: 2008-01-23
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Quote:"getting it in both holes" What does this phrase mean, anyway? I always took the metaphor "getting it in the rear" and similar ones to be from the perspective of a heterosexual male, since he wouldn't find the experience pleasant. But the above phrase makes me think I misunderstand the metaphor. It sounds to me that PIMCO has done something similar to someone rigging a city with explosives (dirty bomb, etc) and then demanding 800 billion in ransom. The difference is that I think the government would say "no negotiating with terrorists" and let the city be blown up and people die, but are bending over backwards to save the corporations and make China happy. 2008-08-22 16:22:27
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