• 29 Sep 2008 at 2:26 AM

Asian Markets Not Buying Bailout?

By

“People are starting to think, ‘hang on, this is a rescue package but it’s designed to forestall a complete collapse, not stimulate a rally,’” said James Chirnside, who manages $65 million at Asia Pacific Asset Management in Sydney.

Asian Markets Retreat Despite Bailout Agreement [NYT]

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    Comments (45)

    Older Comments
    1. 1
      Posted by guest | September 29, 2008 at 2:33 AM

      Bess = superhuman reporting effort.
      I’ll be at work for another few hours – wanna see who can last longer Bess?

    2. 2
      Posted by guest | September 29, 2008 at 2:57 AM

      @1, @Bess
      You’re both on!
      @1 what time zone are you in?

    3. 3
      Posted by StupidEquityGuy | September 29, 2008 at 2:59 AM

      Bess has not stopped since market close Friday…
      Have you left work this weekend?
      ~SEG

    4. 4
      Posted by guest | September 29, 2008 at 3:01 AM

      #1 here – East coast.

    5. 5
      Posted by guest | September 29, 2008 at 3:01 AM

      #1 here – East coast. Currently 3:01 am.

    6. 6
      Posted by guest | September 29, 2008 at 3:02 AM

      #2 here – same

    7. 7
      Posted by guest | September 29, 2008 at 3:07 AM

      #2 here
      I really should have spoken up early. Boss just kicked us out. so pretty much I’m the big loser here.

    8. 8
      Posted by euler | September 29, 2008 at 3:08 AM

      you smell something rabbit?
      fear

    9. 9
      Posted by guest | September 29, 2008 at 3:20 AM

      Reject this bailout.
      The market will do just fine. Banks will fail but others will rise to pick off the pieces. WFC needs a reason to live! They deserve to be No. 1

    10. 10
      Posted by guest | September 29, 2008 at 3:26 AM

      http://www.ivygateblog.com/2008/09/future-of-united-states-in-hands-of-two-dartmouth-kids-and-a-harvard/

    11. 11
      Posted by guest | September 29, 2008 at 3:29 AM

      buy on rumor, sell on news.

    12. 12
      Posted by guest | September 29, 2008 at 3:35 AM

      is this bess reporting or android bess reporting. surely a mere mortal could not report with the super-human skills bess has been displaying this weekend.
      she must be locked in a snow globe like that guy at christmas last year.

    13. 13
      Posted by euler | September 29, 2008 at 3:38 AM

      i would have to tend to disagree with the sentiment that the market will do just fine, though the my contention may arise in our differing definitions of “the market” and “just fine”. you are aware that commercial paper isn’t trading, and bond yields are way down, right?

    14. 14
      Posted by diablo | September 29, 2008 at 3:55 AM

      @13
      Is commercial paper going to trade again after the bailout is signed? Why?

    15. 15
      Posted by guest | September 29, 2008 at 4:44 AM

      This “bail out” is a daiper for financial firms, the problem is the shit is too runny and the daiper doesnt fit the legs properly… hence continued leakage.
      (was that analogy too vivid?)

    16. 16
      Posted by euler | September 29, 2008 at 4:46 AM

      not necessarily, was simply offering those as examples of indicators that might point to the fact that the markets are not operating “just fine”. the plan would at least provide liquidity to institutions sitting on mbs -> decrease perceived default risk -> bring buyers back. who knows.

    17. 17
      Posted by guest | September 29, 2008 at 5:20 AM

      people, Fortis is down. I repeat, we have a European money center bank down. I am shocked that the Benelux rallied for the team and took this one, but this starts the run on Commerz and Deutsche. Game over, game over.

    18. 18
      Posted by CrazyCougar | September 29, 2008 at 6:26 AM

      @17 – German Hypo Real Estate, the 2nd largest mortgage financer in Germany, and one of the 30 DAX titles, was on the verge of collapse and had to be bailed out this morning.
      And Reuters just reports that the injections of billions of EUR only serve to “wind down” Hypo in an “orderly” manner.
      Oops.
      http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSBAT00237420080929

    19. 19
      Posted by michange | September 29, 2008 at 6:27 AM

      Most dumbf*$!ck Bloomberg headline ever :
      Bank of East Asia Credit Rating Outlook Cut by Fitch After Run on Deposits
      http://www.bloomberg.com/news/industries/finance.html

    20. 20
      Posted by guest | September 29, 2008 at 6:39 AM

      well, there should be mentioned that HRE is not in trouble because of the german mortgage market (germany didn’t have a housing bubble at all) but because of their irish subsidiary.

    21. 21
      Posted by guest | September 29, 2008 at 8:18 AM

      TED Spread no like-like bailout and Euro moneycenter failures. Volitile, but mostly on the wrong side of 300.
      This isn’t fixed.

    22. 22
      Posted by guest | September 29, 2008 at 8:32 AM

      ALL CAPS

    23. 23
      Posted by guest | September 29, 2008 at 8:36 AM

      why isn’t gold through its high?
      the world is not ending…
      they will ditch mark to market accounting and we’ll drive on

    24. 24
      Posted by guest | September 29, 2008 at 8:44 AM

      doesn’t ayone elsethink it’s funny that the quoted asset manager’s name is CHIRNside?? LMAO

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