Nemo

Recent Comments

  1. 1
    Posted 2009-04-21 14:17:58 on You’re Not So Tough After All, Safecracker

    @19 - You misunderstand the language in the JPM agreement you cite. It says that JPM may not repay the money for three years UNLESS they perform a Qualified Equity Offering sooner. (The key language being "Except as provided below".) This is identical to the provisions in the generic Term Sheet (http://www.treas.gov/press/releases/reports/document5hp1207.pdf). And yes, the statute's language appears to be specifically intended to forbid Treasury from enforcing its own terms. As for your example of "Tim and the regulators think this is a bad idea because BAC would be rendered insolvent", Tim has nothing to say about that because the Fed is the relevant regulator. This is kind of the whole point of EP's post.

  2. 2
    Posted 2008-09-15 10:56:10 on Price of Merrill Declines As Bank Of America Share Sink

    Huh? If you think BofA is overpriced, you short BAC at this point, not MER. A significant spread vs. the announced ratio implies one and only one thing: The market is pricing in a significant chance the deal does not close as announced. (Otherwise, there would be a straight-up long MER + short BAC arb.)

  3. 3
    Posted 2008-09-05 18:34:33 on Take A Load Off Fannie: Treasury Rescue Coming This Weekend?

    New issuance of preferred shares, backstopped by bazooka, with holders of the existing preferred given an option to participate proportional to their holding. New preferred placed on equal footing with existing to avoid clobbering the regional banks. No explicit guarantee for the bonds, because the implicit one is enough. Common shareholders have seen their last dividend.

  4. 4
    Posted 2008-08-19 09:52:24 on Opening Bell: 8.19.08

    Actually, Joe Biden is the odds-on favorite at Intrade, with a bid/ask of 30/40. https://www.intrade.com/?request_operation=trade&request_type=action&selConID=607635

  5. 5
    Posted 2008-01-17 20:01:10 on Setting The Story Straight On The Merrill Bonus Rage

    do you seriously think a guy would through his shit around if he would have been cut a couple of hundreds of thousands?well, according to some of you these guys are swimming in millions, not true... their bosses may be, but not the ones who make enough to afford a phone booth like apartment and make a living for their families. so, believe it or not, sometimes it's actually logical to take a shit on your desk, after spending all the week-ends at it in hope of getting smth in reward:)

  6. 6
    Posted 2007-12-05 16:32:20 on Ron Paul: Friend Or Foe?

    [quote] Goddamnit, this sub-prime mess would NOT HAPPEN if Ron Paul was in the White House. Dr. Paul is the ONLY person who can save America, and if any of you had more than just a bagel for an IQ, you would know that already. Instead, you useless bunch of sheeple are content with the OFFICIAL VERSION OF THE TRUTH instead of finding out for yourself what’s really going on. The truth is, you’re just afraid of what Dr. Paul will do after he is elected and RESTORES THE CONSTITUTION to this country. Not only that, but Ron Paul has an eighteen inch boner. You heard me right, I SAID AN EIGHTEEN INCH BONER. Don’t you have any idea what he could do for this country? We haven’t had that kind of cockmeat in the White House since James Garfield, and there’s no telling what he might have accomplished if he hadn’t been shot by that damned frog lawyer. You want everything to trade at par? Ron Paul can do that. You want expensive crustaceans for lunch, every single day? Ron Paul can do that. You want that UBS stock bonus to vest ASAP? Ron Paul can make that happen. Not only that, but when Ron Paul is done, Ben B. and his pals at the fed will be out on the street, sucking hobo cock for cash as their only source of income, THOSE MOTHERFUCKERS. I came down here to try to educate you bunch of nitwits, but I can tell already that I’m not getting anywhere with you, and your understanding of the truth is about as shaky as Michael J. Fox after a Venti Frappuccino. That fucking does it. When Dr. Paul gets elected, every last one of you is going to pay. EVERY.FUCKING.LAST.ONE.OF.YOU. [/quote] And this everyone is why people think that Ron Paul supporters are lunatics... If you really feel the need to cuss and rant and rave about Dr. Paul you could at least use your own blog. I'm a supporter of Dr. Paul and will be voting as will my parents, younger brother cousins grandparents, etc... but I brought the msg of Paul to them in a respectful manner because thats the best way to get more support... Ranting and Raving and sounding like Alex Jones shouting at a hotel is not going to help our cause anymore than Dennis Kucinich seeing UFO's...