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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 2008-06-20 09:00:17
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Infidel Posts: 2605 Incept: 2007-08-27 
orlando, fl
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Good stuff. In the middle of Einhorns book, "You Can Fool Some of the People All of the Time" The SEC is asleep at the switch, The fraud being perpetrated (and winked at) is beyond comprehension. Accounting practices? a shell game.
2008-06-20 09:22:48
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Geoff Posts: 1529 Incept: 2007-08-18
NYC Online
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Good stuff. I bet the IRS is going to get a lot keener on collecting unpaid taxes in the near future too. So that's extra reason for those clowns to worry. ---------- C'est nous qu'on ose méditer de rendre à l'antique esclavage! Or something like that. 2008-06-20 10:23:03
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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**** those people with diamonds in toothpaste tubes. Every ****ing one of them and all the bankers who facilitated this knowing what they were doing should go to pound-me-in-the-ass prison. I'm tired of this ****. ---------- 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 2008-06-20 10:24:13
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Krzelune Posts: 1855 Incept: 2007-10-08 
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I wonder how many politicians are caught up in it. We'll probably never know for sure.
2008-06-20 10:28:20
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Eldergurl Posts: 46 Incept: 2008-04-05
Connecticut
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When you say that the bank will have to 'unload this paper'... On whom? Who would buy the stuff? The fed can't buy all of it can they? ---------- "Until they become conscious they will never rebel, and until after they have rebelled they cannot become conscious."- George Orwell (Nineteen Eighty-Four) 2008-06-20 10:34:48
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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Eldergurl, they will have to sell it at the market. The Fed won't take it. And yes, it will create a ****storm. A BIG one. ---------- 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 Last modified:
2008-06-20 10:36:35 by genesis
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Themortgagedude Posts: 3344 Incept: 2007-12-17
saint louis
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Yeah - lock em all up. And please start with Breeden from HR Block. For some reason that lying sack of **** really ****es me off. I'm short HRB and will remain short HRB until they come clean or my broker tells me I'm out of money. And I've got plenty of cushion. And wouldn't it be interesting to hear Callan talk - bet LEH has her locked up over a nondisclosure clause and her severance package. If she has one and congress or a grand jury brings her in how does that effect it? People really don't have a clue yet how bad this is - and the level of severity probably depends upon the California RE market. That is such a huge part of the bubble. I really don't see any hope without runaway inflation driving property values back up or just having a massive recapitalization of the banking industry. Trust a mortgagedude on this - they are nowhere near disclosing their losses. The industry has CDOs and SIVs piled up so ****ing high you can't even see the kitchen sink. And if you marked to market all of these you still haven't dealt with the issues of fraud in the loan applications, the awareness of the fraud in the loan applications by the banks, the money good guarantees that these were sold with to investors. The real winners here are going to be the litigators. Because you could file so many suits on so many angles just on one pool of loans. Lets sue the borrower, the originator, the mortgage banker, the loan packager, the investment banker, etc. Anyone who thinks this is close to over is A ****ING IDIOT! And you wonder why they are moving so slow on action, well I don't think you have to go any further than Sen Dodd. ---------- 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. 2008-06-20 11:04:40
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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A subpoena voids non-disclosures and other similar things. Congress could (and should) subpoena her ass - she has to testify, with the only way out being to take the 5th to avoid potential self-incrimination. The way around that, of course, is offer her unqualified immunity for her testimony, and bang - can't take the 5th, can't hide behind a nondisclosure. ---------- 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 2008-06-20 11:06:36
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Themortgagedude Posts: 3344 Incept: 2007-12-17
saint louis
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Sell 10% - mark the rest to market. Then go with your hat in hand to recapitalize. This needs to be done for everyone. Including FNM, FRE. They all need to recapitalize. You are probably looking at an additional TRILLION $$$ that they will need to raise.
---------- 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. 2008-06-20 11:08:11
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Themortgagedude Posts: 3344 Incept: 2007-12-17
saint louis
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Hell Gen - I'd stay home from work to watch CSPAN if they did that. Probably be a wasted day though as I don't expect that our elected representatives really want to know the truth, much less want us to know the truth.
---------- 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. 2008-06-20 11:20:09
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Lucianij Posts: 1088 Incept: 2007-06-27
NKW
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paid my taxes... big-time. . . . hated every minute of it, and despise the IRS. . . . wish we had a flat tax...... I see too many illegal immigrants and dead-beat welfare recipients benefitting from my taxes. . . . . and I did not even get a stimulus check....  IRS  FEDS 
---------- John Dillinger - "My buddies wanted to be firemen, farmers or policemen, something like that. Not me, I just wanted to steal people's money!" 2008-06-20 11:37:08
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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I sent my 2nd Estimated payment off just a few days ago, and I'm getting writers cramp filling the ****ing things out. I say hang these *******s. I hate taxes as much as anyone else but ******n it I don't cheat. The arrogance of some people who get "uber-wealthy" and suddenly think that they don't have to play by the rules ****es me off. I want these ****ers to get 20 years of asspounding. ---------- 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 2008-06-20 11:38:49
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Themortgagedude Posts: 3344 Incept: 2007-12-17
saint louis
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Gen, Tell us how you really think. And to disagree a bit I would think that one year of asspounding would probably get them to fill out the 1040 properly. I don't want to pay for 20 years for them, I would like for the tax bills to be triple for them. What causes triple damages? ---------- 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. 2008-06-20 11:52:01
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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OK, "Death by Oooga-booga!"
---------- 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 2008-06-20 12:01:42
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Zanni-baby Posts: 922 Incept: 2007-11-09
the Valley
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Totally agree--these players get the safety and security of our Nation's Military, our waterways--ie boats from Cayman's using our public docks, they get protected by the local police, coast guard, etc. Then, they drink our clean water, and drive on our streets--and benefit from a civil society. And they get to work within our efficient system--doing business. However--I don't think an ass-pounding for twenty years is enough--these folks need to be on the chain-gang. Try like 20 years of hard labor. JMHO ---------- As for all the Banksters-It's all said in one word: GOUT! Last modified:
2008-06-20 12:11:28 by zanni-baby
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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SOQs are out and they're ugly. This afternoon might not be calm after all. ---------- 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 2008-06-20 12:19:22
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Cynic Posts: 672 Incept: 2007-07-03
Rainy old England
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Quote:SOQs are out and they're ugly SOQ? Did some digging - looks like it means Special Opening Quotation http://www.cme.com/files/equity_soq.pdf Actually I had been puzzling over that very topic this morning. How do they calculate the opening price for the settlement of index options without knowing the opening price of every component of the index. Looks like thats that's exactly what they do.... wait till every stock trades then retroactively adjust the opex settlement price accordingly. Wellity, wellity, wellity... learn something new every day. Update!!! looks like it is just the quarterlys that use SOQs. Monthly AM Settlement options seem to use something called an Exercise Settlement Value which seems to be calculated in much the same way. PM Settlment options use the closing price on OPEX. Is my understanding accurate? Can someone who really knows please confirm or correct. Also, how can you tell if an option is AM or PM settled? Are SPY puts AM settled? Last modified:
2008-06-20 12:55:36 by newb
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Shortqqq Posts: 314 Incept: 2007-07-20
las vegas
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dude, If the severity depends on the CA real estate market we better take cover!!!
2008-06-20 12:42:09
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Bozonian Posts: 13051 Incept: 2007-09-01
PFT - Pure F'n Tin
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Don't you get a piece of the action if you help the IRS recover money owed them? Hmmmm. How much of 20 billion is enough? ---------- 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. 2008-06-20 12:55:11
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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10% Boz if you rat someone out and it results in a recovery, yep. ---------- 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 2008-06-20 12:55:34
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Eleua Posts: 9192 Incept: 2007-07-05
N 47.72/ W 122.55
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Let me guess... The IRS gives you 10%, and then you turn right around and give them 40-50% in taxes. ---------- If you jam it down our throats in 2009, we will stick it up your ass in 2010. (if we survive that long) A.C.O.R.N. - A Criminal Organization Racketeering Network 2008-06-20 13:00:48
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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Of course! But if you nail someone who owes 'em $10 million, that's still a cool $500-600k in your pocket. That ain't bad. ---------- 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 2008-06-20 13:02:14
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Eleua Posts: 9192 Incept: 2007-07-05
N 47.72/ W 122.55
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That's one expensive mirror.
---------- If you jam it down our throats in 2009, we will stick it up your ass in 2010. (if we survive that long) A.C.O.R.N. - A Criminal Organization Racketeering Network 2008-06-20 13:03:30
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Teachmehow Posts: 1409 Incept: 2008-02-17
trenton nj
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hey i have a great idea... If one of these dirt bags ends up in my prison wing I'd be willing to forget and leave Tyrone Shabazz's cell door open while it's shower time for one of these scum bags.. that is of course if ya'll are willing to pass the hat around and take up a collection for me... come on what's it worth to ya humm ? ---------- patiently waiting for that unexpected and sharp discontinuous response 2008-06-20 17:20:23
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