$$$ Follow the Money [CFO]
$$$ Financial Collapse Inspired Halloween Costumes [WSF]
$$$ Ken Lewis wins Banker of the Year award for acquisitions of asbestos company. [DB]
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Posted by Investorcluzo , Oct 27, 2008 6:55PM
I love these awards for "deals of the year" ect...seriously, how is the aol/time warner deal working out for the shareholders? it was given an award for deal of of the year too. shouldn't these awards be given once we know if the transaction works? anyone can do a deal, but not everyone can execute.
Posted by Investorcluzo , Oct 27, 2008 6:58PM
oh yeah, one more thing...
first, beyatches!
Posted by guest , Oct 27, 2008 8:52PM
An experiment to try: Go to a restaurant. After dinner, tell the waiter you are giving his tip to someone who is needier than him. Now, go outside and give $10 to the homeless guy (afterall, he needs it more, right?) See how angry the waiter gets. The homeless guy was grateful for the money he did not earn, but the waiter was pretty angry that I gave away the money that he did earn. I guess this Redistribution of Wealth is an easier thing to swallow in concept than in practical application.
Posted by guest , Oct 27, 2008 9:04PM
Massive worries about employment. Citizens have LOST EVEN THEIR DIGNITY!
Things have to change!
Read what they are saying in their OWN WORDS!
http://www.marketwarnings.com/2008/10/employment-worries-job-cuts-by.html
Posted by WindsorNot , Oct 27, 2008 9:13PM
@ 3, what the hell are you referencing?
Posted by guest , Oct 27, 2008 9:15PM
You know mom and pop are just eating this shit up and the dinner table tonight.
http://www.msnbc.msn.com/id/3032619/#27407645
SPODE
Posted by Investorcluzo , Oct 27, 2008 9:31PM
@spode - this is just the type of $hit that incites the unwashed masses. I don't blame the press, they have ratings to earn. but seriously, did they really think the banks could give everyone a bagel and expect to have people show up on jan 1? the fact of the matter is that unless you work on the street, you'll never understand what it's really like...the anticipation of your group head's (or rather, his assistant's) call on bonus day is akin the waiting for the girl (or guy - GAnalYst) to say those magic words: "I don't normally do this, but..."
where is the "damn it's good to be an engineer/lawyer/et. al” now? looks like that schadenfreude he had yesterday making fun of bankers without bonuses, is gone with the mutha' effin' wind today...
Posted by Lowly Assistant , Oct 27, 2008 9:34PM
3,
My senile grandfather forwarded that stupid spam email to my attention the other day. You're embarrassing yourself, and all of Ft. Lauderdale.
Posted by guest , Oct 27, 2008 9:40PM
Did we scare the Daniel guy away? Or was his shit to low brow?
Posted by guest , Oct 27, 2008 10:44PM
KOREA DEVELPOMENT BANK TO SELL SHORT-TERM DEBT TO THE FED
Oct. 28 (Bloomberg) -- Korea Development Bank was approved by the Federal Reserve to sell as much as $830 million of commercial paper to the U.S. central bank.
State-run KDB can raise $400 million in the U.S. by selling short-term notes, Sung Joo Yung, a spokesman for the Seoul-based bank, said today by telephone. The bank will roll over an existing $430 million of debt, he said.
Kookmin Bank, South Korea's largest, was also deemed eligible to sell commercial paper to the Fed, spokesman You Jung Youn said by telephone from Seoul. The amount of debt Seoul-based Kookmin will sell hasn't been determined, he said.
The Maeil Business Newspaper today reported Kookmin would be able to borrow as much as $50 million.
South Korea's government pledged last week to guarantee as much as $100 billion of the overseas debt of local banks to ease a liquidity squeeze. The state guarantee will cover about 140 percent of each bank's foreign-currency debt due by mid-2009.
Posted by guest , Oct 27, 2008 10:49PM
i think the daniel guy was done "feasting on the yeast" with the girls from DB and moved on
Posted by guest , Oct 27, 2008 11:04PM
I heart Oriel Morrison
Posted by StupidEquityGuy , Oct 27, 2008 11:04PM
@10, Interesting... I wonder if its to late for some of us to form our own bank so we can sell crap to the FED...
Stupid Banking LLC should have a chance to extract funds from the FED if banks in non G7 nations can at will now...
I wonder how hard it would be for this forum to put together a bank of our own to go to the FEDs tit for cash... Seriously its the new Wall Street...
Bonus guaranty is not a problem.
~SEG
Posted by guest , Oct 27, 2008 11:30PM
Fed Titties the new Wall Street. Right on SEG. How do we say that in latin?
SPODE
Posted by guest , Oct 27, 2008 11:43PM
Several new banks are forming. Some smaller banks are expanding.
Regular savings banks apparently have been lending all along.
Posted by guest , Oct 27, 2008 11:47PM
"October 27, 2008, 3:14 pm
Of Copyright & Family Feuds: “Hedge Fund Wives” Goes to Court
Posted by Dan Slater"
http://dealbreaker.com/2008/10/market-metastability.php#comments
Now this I want to read.
Posted by StupidEquityGuy , Oct 27, 2008 11:59PM
I say we put in a stink bid for some CDO TARP assets, lift the FEDs skirt to hide them there, take our cut of the gig via expanding the FEDs balance sheet with crisp new treasury's printed from Uncle Hank...
Then rinse repeat and leverage it up to 30-1 like the good old days... Maybe we can even can call it Stupid Banking LLC and let Uncle Hank pay the vig...
I think its time we got off our ASS's and started taking advantage of the opportunity that are sitting in front of us.
Seriously... enough of the black period, the big banks died... Lets form new ones and get back in the game...
We have panicked the world, now its time to pull a Sir John Templeton and go buy up assets in the street... not equity in this context... but discounted to nadda assets...
Sure the DCF model is broken for the rest of our careers... that's OK, time to invent a new stupid away of milking the system...
Its time to take over the world while everyone else is panicking and not looking...
~SEG
Who might not need another glass of red wine tonight...
Posted by Phobos , Oct 28, 2008 12:17AM
Milking, lifting of skirts, wine.. I'm noticing a trend here SEG.
Posted by StupidEquityGuy , Oct 28, 2008 12:27AM
Phobos,
I am calling our Federal Reserve Bank a fucking bank robbery from the inside. Hank and Paulie are doing a hell of a job of slutting out the worlds reserve currency. The Fed has acted at just the measured pace necessary to kill any chance of getting on top of this event. Its all become so fucked up as to make me angry... and I am winning so go figure...
Speaking as a citizen of this nation, I will say that I would not want to be either of the above mentioned ass clowns once this shit show changes leadership and the people realize the depth of the crimes committed under these clowns watch.
I am tired of the daily depressing reality of the game as we know it. I was trying to do a "Man Up" speech in place of our current weak sister reality.
But ya, Zee old red wine is coursing through me veins...
~SEG
"...Hangovers don't happen if you don't sober up..."
Posted by Phobos , Oct 28, 2008 12:36AM
Negative.
You don't tell the American public "Holy Shit!! Trust these guys!!" and then come back and tell them they were wrong for doing so. And on top of it, you would have some serious issues in re: making Senators looks like morons, which they would never allow for (they don’t need the help anyway).
The history books will take care of this though, look for it in about 100- 150 years.
Posted by guest , Oct 28, 2008 12:42AM
Who started this whole mess anyway? Was it those two BSC hedge fund guys doing the purp walk?
Posted by StupidEquityGuy , Oct 28, 2008 12:44AM
I think we are close to seeing a major thinning of the Congress-Critters, with new ones given a single mandate... CLEAN UP DC, or don't come back... That mandate is going to mean WS gets its ass kicked while we are down...
We need to figure out where the current crop of WS executives are buying up homes out of the US... and join them... ASAP... cause Joe Six Pack is getting pissed... and we are the bag holders...
Its been a while since advisers were tarred and feathered... but when you piss off a couple of hundred million people... you have problems... we have managed to do that...
What is your over under for how many Republicans are left in office after this purge?
~SEG
Posted by Phobos , Oct 28, 2008 12:55AM
Honestly, I don't see it going down like that.
Here's why: People are stupid. They get drunk/mad/sad *whatever* and they drink/yell/cry and then they're over it. They forget about everything that happened, and move on to whatever the currency 6-pack mandated dinner conversation is(I think it has to do with dancing with the stars, but I'm tragically out of touch). Usually, they know *just* enough to sound knowledgeable on the topic, so long as someone doesn't come along and tell them they don't know what they're talking about (that person doesn't get invited back to dinner).
No one will get fired, everyone will get re-elected, or if they don't, I don't see it being based off of this.
I think if you polled the general public about whether or not they thought the Gvmnt was corrupt, they would overwhelmingly say "yes".. we would release the poll results, some "specialists" would get on CNN and have their 15 minutes of fame, and the same people would be elected saying "I've been in washington 12/18/24 years, *I* know what needs to be done to clean this up" and the cycle would continue.
Because People Are Dumb (feel free to quote me, CNBC)
Posted by VOL IS KING , Oct 28, 2008 1:55AM
I'll be hiding out in Chicago. The pits are under the protection of the Obama administration.
Long ChiTown Short NYC
Posted by guest , Oct 28, 2008 2:24AM
come on, this is simple stuff.
There's a reason why lawyers make good politicians...everybody loves their lawyer and hates everyone elses.
It's all about creating conflict.
Posted by StupidEquityGuy , Oct 28, 2008 2:25AM
Annual cost of five-year default protection in basis points above the London interbank offered rate (LIBOR):
Country Basis Points Above
LIBOR
Argentina 3900
Ukraine 2750
Pakistan 2600
Venezuela 2260
Kazakhstan 1200
Indonesia 1200
Russia 1200
Turkey 900
Philippines 720
Egypt 720
Posted by guest , Oct 28, 2008 2:31AM
argentinas leftist government is about to confiscate private pensions.
Does any retard on this blog think our leftists like frank and Obama will do any differently?
Posted by StupidEquityGuy , Oct 28, 2008 2:32AM
Eastern Europe countries, current account deficit and net dependency on foreign bank borrowings
Country Current Account
(% of GDP) Net Borrowing From Foreign Banks
(% of GDP)
Bulgaria -21.9 -29.0
Serbia -16.1 -15.1
Latvia -15.0 -72.5
Romnia -14.5 -36.4
Estonia -11.2 -78.7
Lithuania -10.5 -45.6
Croatia -9.0 -59.7
Ukraine -7.6 -9.5
Hungary -5.5 -54.1
Poland -5.0 -17.1
Kazakhstan -1.7 -8.0
Russia +5.8 +2.2
Source: International Monetary Fund, Global Financial Stability Report (October 2008).
Posted by VOL IS KING , Oct 28, 2008 3:17AM
@27
Why the fuck would they confiscate them just to send it all back out as Social Security. Under the new administration people as stupid as you won't be allowed to exist.
Posted by guest , Oct 28, 2008 3:25AM
hi 29
You just answered your own question, nitwit. LOL
Posted by VOL IS KING , Oct 28, 2008 3:49AM
yeah its retarded. they won't do it. more likely to discontinue government insurance of private pension and send that out as social security. Which they also won't do. Its morons like who think social security should be invested 100% in equities. What structured product desk at lehamn did you work on again?
NEXT.