Reuters has updated yesterday‘s story on Citadel. The new iteration includes the following paragraph, which seems to downplay counterparty discussions (by noting that KG isn’t alone in his trubs):
The Fed has been speaking with dozens of prominent hedge funds and their counterparties in the past weeks to monitor trading and liquidity issues as the financial crisis deepened, industry sources have said.
Apparently, such discussions are a regular feature of the Fed’s monitoring practices, especially over the last several months.
CORRECTED – UPDATE 2-Fed questions counterparties about Citadel [Reuters]
too Sunday didn’t read
First bitches
How is calling your post position satisfying? It only provides support for my thesis that people are generally unable to lead or care for themselves.
Goldman Sachs Group Inc. (GS) Chief Executive Lloyd Blankfein called his Citgroup Inc. (C) counterpart Vikram Pandit in September to discuss a merger, the Financial Times reported, citing several unnamed people familiar with the events.
Pandit rejected the proposal immediately, the newspaper reported late Sunday on its Web site, citing the sources.
The call, suggested by regulatory authorities or at least with their blessing, was placed after Goldman won approval to convert itself from a securities firm into a commercial bank, the newspaper said, citing the sources.
Citi would have taken over Goldman, which was roughly double Goldman’s market capitalization at the time, the newspaper said.
Representatives from Goldman, Citi and regulators declined to comment, the newspaper said.
Full story: http://www.ft.com/cms/s/0/15d9f6ac-a39f-11dd-942c-000077b07658.html
I agree with #2. What the hell is wrong with you people?
=IF(AND(A7=”Shamwow!”,A15=”Too ” ”, didn’t ” ”.”),”#8 Eats #11′s ass”,”#20 eats ”Chicken is in the oven. Cook it!” guys ass”)
SPODE
@2 Thesis too long, didn’t read.
Since when did the fed check the counterparty books on hedge funds? Is this all just hot wind from the inevitable central clearing strategies for derivates? As Citadel is proposing along with the CME?
yea
The Fort is toast.
tick tock..
izzo
6
I think the Fed got indegestion over what happened with Lehman and what almost happened at AIG. I know I did.
stick a fork in them.
Is this for real?
Wall Street workers leaving NYC for fresh start
http://ap.google.com/article/ALeqM5ic67IqYWJBedfJLj1EL_FJea_23gD942BDOO2
New York Blows. It’s dirty, smelly, and just not worth all the hassle.
This will probably go on for the next 2 years. The cash cow got killed.
Its all Enron’s Fault
Sorry #20 –future poster- but you never had a chance after DB threw you under the bus by changing #7 from “Shamwow!” to “yea”. Who knows if #15 would have posted “Too ___, didn’t ___” Yes the odds were stacked against you but at least you knew the risk and you could have decided for yourself to participate in this market. But instead the filthy hand of DB socialism cut you off at the knees forcing you to be a market taker. Oh, the humanity #2 how can people lead or care for themselves when they aren’t given the chance to be a market maker? How dare you question those who wish to express their voice of individualism as “first’ or even “second”. #1 is living the American dream! And my thesis is 5>8, now ain’t that a bitch. Neptune’s ocean can’t wash away your deed DB. Et tu, DB? -Ayn Ryand. Free markets must prevail and DB can’t regulate who eats whose ass. Join me fellow DB’rs and I will complete your training and together we can rule the blogs as SPODE.
http://www.youtube.com/watch?v=h6sj89xgnl4
I’m high again bitches on Redbull and Ritalin.
YEA MOTHERFUCKERS!
Too high, didn’t read.
SPODE
11, of course it’s for real.
How long would you last in NYC if your job went poof? The city is a financial vampire and most of these people are bordering on broke.
#15..SHUT THE FUCK UP! FUCKING MORON. Go back to your cave with your redbull and just don’t come out until the world ends. Listening to you is worse then listening the Hank Paulson.
let us laugh. Laughter in middle of economic and stock market madness. Details below:
http://marketwarnings.blogspot.com/2008/10/laughter-in-middle-of-stock-market.html
http://www.thelogicgirl.com/2008/10/humor-global-financial-crisis.html
@3
OH! that would be SOOOOOO GREAT!
Death to the GS name. Long live Citi
mahnahmahnah!
-vince offer
8220 tomorrow. down up a little flat
the market is screwed in the morning. possible major gap fade in the morning. If not, we’re heading lower for X # of days.
http://www.weeklyta.blogspot.com
This market is a broken chart, typical of things that people don’t want to own at any price.
We’re going back to the intraday lows, either today or soon.
SPODE g g gg g gggggGAY
Bess, where’s opening bell and snarky Monday AM post? Beat the shit out of those IT guys and get this ship righted.
bess we need you!
Damnit, was hoping for a AM post to start my day.. Bess, at least post a barely SFW pic of one of the staffers (preferably female).
Some background music while we wait for the opening bell my n36gro$…
http://www.youtube.com/watch?v=p6V_COQQPz8
As long as these hedge funds are not fraud, why do I care if they fail? There is no government regulation on these funds. What is the point of the Fed looking at their books?
Are not hedge funds for people with a lot of money and they know these are high risk instruments.
@29 — I feel stupider for taking the time to write this, but what happens to the price of something when there are more sellers than buyers?
Take the answer and multiply by a shitload.
Apply to financial markets.
Extrapolate to industries that rely on financing (i.e everything).
Then rethink your question.
@11:
Of course it is Not real, names like “Jeffries & Co.”, “Robert W. Baird” and “Southern Trust Securities Inc.” are obviously made up
Kenny not looking so good, fridays CDS for Shitidel were 30-32/points up
must check louis vuitton knockoffs for less
RBxCqY I am so grateful for your blog.Thanks Again. Cool.