Posted by guest , Nov 21, 2008 10:06AM

first

Posted by guest , Nov 21, 2008 10:08AM

@2 and @3

I am wideclops! feel my wrath get off this blog!

Posted by guest , Nov 21, 2008 10:09AM

If this is true, then this is very big news indeed.

Posted by guest , Nov 21, 2008 10:15AM

no more wideclops. dead horse -> beat

Posted by guest , Nov 21, 2008 10:15AM

Dear Bess -

On the post regarding John Mack's B-day
(http://dealbreaker.com/2008/11/john-mack-birthday-boy.php
) I wrote critically that you buried the Cuban story with a crappy post
(comment @7 and @19).

You responded @21 and I responded in kind @40. When it was discovered
that you couldn't correctly identify a picture of John Mack, I piled on
with a few funny additional comments regarding Bess mistaking Lloyd
Blankfein for Dr. Phil and Bess misidentifying Steven A. Cohen for
another Steve Cohen.

Your response was to ban my IP address.

This is the type of childish crap that is costing you readership daily.
When will someone at Dead Horse Media wake up and get someone with real
financial experience (or any work experience for that
matter) to run this site?

It's like Mark Haines left and CNBC was like "well F-it let's just put
Jim Cramer in charge."

How can you honestly write about how terrible it is for the banks to
have banned your website when you are essentially doing the exact same
thing.

You are a total fraud.

- 19

Posted by guest , Nov 21, 2008 10:16AM

Given they are a commercial bank now this does not surprise me. Prop trading= internal hedge fund= lots of leverage. Most banks have thrown out or are chucking their prop trading desks.

Posted by guest , Nov 21, 2008 10:16AM

Wideclops' to-do list:

1. Sharpen boots
2. Take elevator to equity prop trading floor
3a. Left one looks for prop guys down east hallway
3b. Right one looks for prop guys down west hallway
4. Seek and destroy

Posted by guest , Nov 21, 2008 10:19AM

@8

I don't care if it's a dead horse. Well played..!!!

Posted by guest , Nov 21, 2008 10:19AM

doubt they'd shut it down all together... bonus pools would fall off a cliff and they don't need to kill all prop trading in order to get their leverage down to the range of a BHC

Posted by guest , Nov 21, 2008 10:22AM

God Bless Mark Haines for pounding American automakers for making shitty cars.

Posted by guest , Nov 21, 2008 10:22AM

Well done @8
Bravo!

-@3

Posted by guest , Nov 21, 2008 10:22AM

Well done @8
Bravo!

-@3

Posted by guest , Nov 21, 2008 10:25AM

Shutting it down for good would be utterly stupid...

It is in effect liquidating at the bottom.

Regardless of opinions on the US, I dont think anyone would argue against a rebound in the global economy.

Posted by guest , Nov 21, 2008 10:34AM

Closing prop trading at Morgan would be no loss currently. Everyone good left by 2006 when that clown Andy “day trader” Pipa took over.

Posted by guest , Nov 21, 2008 10:43AM

Can someone inside ms check adam wiiliams (williamsa is the ms id) is still in ln it

he was a horror of an ED

Posted by guest , Nov 21, 2008 10:43AM

Refresh me again...

What part of banking activities requires a giant desk of frat boy day traders using cheap (OP) money piling into whatever is the trade du jour?

What is the business case for a bank to run this type of casino?

Besides making gobs of money trading against 'customers' that is?

Good riddance.

Posted by guest , Nov 21, 2008 10:51AM

@6, fuck off ya wanker. Bess has more supporters here and loyal soldiers than your donkey fucking ass.

I hope wideclops stomps the shit out of you with her fuck me boots!

Posted by guest , Nov 21, 2008 10:54AM

8 absolutely killed it

Posted by guest , Nov 21, 2008 10:58AM

it's true for the MuniArb... shut down..

Posted by guest , Nov 21, 2008 11:17AM

it's true for the MuniArb... shut down..

Posted by guest , Nov 21, 2008 11:21AM

@6, How do you know the level of dealbreakers's web traffic? Talk about making unsubstantiated claims. Fucking hypocrite.

Posted by guest , Nov 21, 2008 11:42AM

I think that's a "FLAIR for the dramatic", Bess.

And more ass-bleeding metaphors please.

Posted by guest , Nov 21, 2008 12:19PM

Anybody know the fate of Process Driven Trading?

Posted by guest , Nov 21, 2008 1:07PM

it seems rationale to me - here's why:

1) u just got capital injection from the Fed (intense scrunity going forward); 2) ur stock is down whatever +50%; 3) de-leveraging occurring globalwide (when you hear MSFT registering to raise debt & Russian billionaires getting margin calls - u know something's up); 4) hedge funds are blowing up left & right all over the world.

u sit through and ask yourself, 'why in the world, do we need to use our balance sheet and use leverage and do prop trading?' u don't want any short-sellers or shareholders getting the slightest idea that u are wasting capital on hopes of making money with leverage...

so... it seems rationale to me... (didn't jpm or someone said they are shuttering their prop?)

Posted by guest , Nov 21, 2008 1:38PM

would be good business move, as their pb business would return (and increase) as there would be no more incentivization (word?) to gun against their clients like all pbs seem to want to do ........

Posted by guest , Nov 21, 2008 1:38PM

Anyone know if our favorite collateral group is still there?

Posted by guest , Nov 21, 2008 2:53PM

@27 re: "incentivization" how about "incentive?"

Posted by guest , Nov 21, 2008 3:05PM

the word is that the only prop trading that will be left at MS by next year is PDT, Muller's Process Driven Trading.

Posted by guest , Nov 21, 2008 4:41PM

After they buy Citi this weekend things will get back to more normal for them.