Greedy Pigs Get Slaughtered
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Dam,it goes up when I put a buy order in. No Fill.
OT: How come you changed your name? Referring to you as TPL sounded better than TSL.
Good Money Made on AIG and my bookmarks are going down. I guess people don't like making money.
Well, it moves up quite easily on small buys.
AIG looking good for a day trade
Someone wants their $15 bad enough to bring us down further.lol
What??? I am down $4300 already? we need new buyers to bring this up to .05.
Over my cold dead body, lol.
pdgt starting to die down eod.
I may buy or sell any stock without prior notice, so I am not responsible for any gains or losses on my recommendations.
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PDGT continues to show strength so far.
Riding free shares on PDGT
PDGT, one to watch. If it breaks .0005, it will be a quick momo play imo.
I have no problem getting your e-mail
Lol, from today's news,Obama sounds a bit socialist. He wants to distribute the wealth more evenly. On the topic of the stock market, I don't like how he'll be raising the taxes on capital gains. I'm for Ron
Paul!!!!!
I may buy or sell any stock without prior notice, so I am not responsible for any gains or losses on my recommendations.
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I'll be watching GRMU for the upcoming weeks. I have a feeling that someone is holding it down, just to load up cheap. I've seen this many times with big movers, like FFGO. Lots of bashers on that one earlier this year. I bought 30 million shares at .0001 and sold .0002. If I held half, I would of been much happier. i could have sold FFGO .0005+. Don't buy on my word, I am waiting on some more transparency.
I may buy or sell any stock without prior notice, so I am not responsible for any gains or losses on my recommendations.
My Group
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My broker friend at NCC is very happy. NCC recovering.
Go here for the non-penny stocks http://investorshub.advfn.com/boards/board.aspx?board_id=12634. Right now for pennies. I am looking into GRMU.
Ron Paul: Rescue Plan is 'Not Good'
Chrysler, GM discuss merger, acquisition
DETROIT - General Motors Corp. and Chrysler LLC have held preliminary talks about a merger or an acquisition of Chrysler by GM, according to published reports.
The Wall Street Journal, citing people it described as familiar with the discussions, reported that Cerberus Capital Management, the private equity firm that owns 80.1 percent of Chrysler and 51 percent of GMAC Financial Services, proposed trading Chrysler's automotive operations to GM. The Journal said Cerberus would receive GM's remaining 49 percent stake in GMAC.
The New York Times, also citing people familiar with the talks, reported that the automakers were discussing a merger. The Times did not mention GMAC.
GMAC, primarily an auto lender, also has significant mortgage lending operations that have been hit hard by the crisis in that industry.
The talks have stalled because of the recent turmoil in the financial markets, according to the Journal. Its sources said negotiations could resume if markets stabilize because both GM and Cerberus want to quickly divest the assets under discussion.
The negotiations between 100-year-old GM and 83-year-old Chrysler began more than a month ago, according to the Times. Its sources said the chances of a merger were "50-50" as of Friday and likely would take weeks to complete.
Both newspapers posted their stories on their Web sites late Friday.
"Without referencing this specific rumor, as we've often said, GM officials routinely discuss issues of mutual interest with other automakers," GM spokesman Tony Cervone said.
"The company is looking at a number of potential global partnerships as it explores growth opportunities around the world," Chrysler spokeswoman Lori McTavish said. "Beyond those partnerships already announced, however, Chrysler has not formed any new agreements and has no further announcements to make at this time."
A tie-up between the automotive giants would be historic for the industry and solidify GM's position as the global sales leader, which it has been in danger of losing to Toyota Motor Corp. GM and Toyota finished 2007 essentially even in vehicles sold worldwide.
This would not be the first time Detroit's automakers have explored mergers.
GM reportedly talked with DaimlerChrysler AG in 2007 about acquiring Chrysler before Cerberus made a deal to acquire most of the automaker.
In 2005, GM and Ford Motor Co. reportedly held talks regarding a potential business combination.
Cerberus acquired its GMAC stake in 2006 for $14 billion and bought 80.1 percent of Chrysler from Daimler AG in August 2007 in a $7.4 billion deal. Cerberus and Daimler confirmed last month they are in talks for Cerberus to acquire Daimler's remaining Chrysler stake.
The auto industry has been hit hard in recent weeks by the effects of the credit crisis, prompting GM and Ford to issue statements Friday to dispel the notion that they might be headed for bankruptcy.
GM and Ford shares were battered with the rest of the stock market this week, falling to lows not seen in decades. GM shares lost about half of their already-depressed value during the week, closing at $4.89 on Friday. Ford shares fell similarly, ending the week at $1.99.
Unbelievable, waiting on the sidelines with all my cash. Damn Jim Crammer telling everyone to sell,
Probably hedge funds
I'll be checking out RNVO, to see how it trades in the next few days. A positive day tomorrow would be a good sign.
Well, I think I will be heading back to the penny market.
How is the penny market doing? This is complete BS!
Another crap day. Still on the sidelines.
Wow, what a roller coaster today! I pulled a lot of my money out of the market in the past few weeks. I will be back into this game full time soon. I've been taking care of personal problems lately. Stay tuned for next week, I'll be back in action. Watch the market this week, you'll probably see some bargain buys!!
Sounds like something from orwell 1984 coming true.
World Markets already tumbling. Bailout= failure in the long term. Maybe short term, we'll see.
Wow, that sucks. I have 50 million at .0001 from over a year ago.
Should be really interesting today.
So now the shorts may be moving to use their offshore trading accounts now.
Nice, maybe we can see a FFGO like play soon.
McCain says he would fire SEC Chairman Richard Cox
EDAR RAPIDS, Iowa - Republican presidential candidate John McCain said Thursday he would fire Securities and Exchange Chairman Christopher Cox if he were president, accusing the former GOP congressman of betraying the public's trust.
McCain criticized President Bush's choice to lead the federal agency that regulates U.S. stocks and securities as he and Democratic rival Barack Obama tried to win over voters anxious to hear how the next president would prevent the sort of financial tremors that have shaken the financial industry this week.
Economic issues traditionally favor Democrats and were expected to be especially potent for Obama in an election cycle that follows eight years of a Republican White House and a Congress usually dominated by the GOP.
Obama, stopping at a restaurant in Bernalillo, N.M., outside of Albuquerque, deflected a reporter's question about whether Cox should be fired, saying he would be talking about the economy later in the day. Obama campaign adviser Linda Douglass said, "What we ought to do is fire the economic policies of George Bush."
Accompanying McCain in Cedar Rapids was his running mate, Alaska Gov. Sarah Palin, who drew some of the event's biggest cheers with her stump remarks even though she fumbled a bit at the start when she referred to "Grand Rapids."
McCain, who all but called for Cox's ouster from the Bush administration, has been constantly labeled a reliable Bush helpmate by his Democratic opponents. Bush appointed Cox to lead the SEC in 2005. He had represented the House for 17 years and served on congressional committees overseeing investor protection and U.S. capital markets.
"The chairman of the SEC serves at the appointment of the president and, in my view, has betrayed the public's trust," McCain told the crowd at a rally in this battleground state. "If I were president today, I would fire him."
SEC spokesman John Heine said he had no immediate comment. Cox's term ends in June 2009 although he could remain longer until a replacement is named.
Earlier this week, Obama criticized McCain for responding to the financial turmoil on Wall Street by suggesting the creation of a high-level commission to study its causes.
In his speech in Cedar Rapids, McCain proposed creating a trust to work with the private sector and regulators to identify mortgage and financial institutions that are weak and to take measures to strengthen them.
"Today we need a plan that doesn't wait until the system fails," the senator said. "For troubled institutions, this will provide an orderly process through which to identify bad loans and eventually sell them."
Stocks on Wall Street have tumbled this week amid the worst financial meltdown in the U.S. since the Great Depression. Investment banker Lehman Brothers filed for bankruptcy, retail broker Merrill Lynch agreed to be sold for half its recent value and the government agreed to an $85 billion loan to prop up mega-insurer AIG.
McCain, meanwhile, has shifted from saying up front that the country's economic fundamentals were strong. Ever since he endured widespread ridicule for that view, he has said the economy in "crisis" but that the fundamental productivity of the American worker endures.
Most of the remainder of McCain's speech was political in nature, accusing Obama and the Democratic leadership of Congress of exploiting economic problems for political gain.
"My friends, that is the kind of me-first, country-second politics that are broken in Washington," said McCain, who has served in Congress for 26 years. "My opponent sees an economic crisis as a political opportunity instead of a time to lead. Sen. Obama isn't change; he's part of the problem with Washington."
On Tuesday, McCain said flatly that he opposed an AIG bailout. On Wednesday, when it was announced, he said it had been "forced" on the country. On Thursday, McCain accused Obama of failing to take a stand on the bailout although McCain too has not said whether he agreed or disagreed with the government's action.
"When AIG was bailed out, I didn't like it, but I understood it needed to be done to protect hard-working Americans with insurance policies and annuities. Sen. Obama didn't take a position," McCain said. "On the biggest issue of the day, he didn't know what to think."
In fact, Obama's response was similar to McCain's. He told voters at a stop in Elko, Nev., on Wednesday that the government "must not bail out the shareholders or the management of AIG that were making big profits when times were good. They shouldn't be bailed out when times are bad."
McCain says he would fire SEC Chairman Richard Cox
EDAR RAPIDS, Iowa - Republican presidential candidate John McCain said Thursday he would fire Securities and Exchange Chairman Christopher Cox if he were president, accusing the former GOP congressman of betraying the public's trust.
McCain criticized President Bush's choice to lead the federal agency that regulates U.S. stocks and securities as he and Democratic rival Barack Obama tried to win over voters anxious to hear how the next president would prevent the sort of financial tremors that have shaken the financial industry this week.
Economic issues traditionally favor Democrats and were expected to be especially potent for Obama in an election cycle that follows eight years of a Republican White House and a Congress usually dominated by the GOP.
Obama, stopping at a restaurant in Bernalillo, N.M., outside of Albuquerque, deflected a reporter's question about whether Cox should be fired, saying he would be talking about the economy later in the day. Obama campaign adviser Linda Douglass said, "What we ought to do is fire the economic policies of George Bush."
Accompanying McCain in Cedar Rapids was his running mate, Alaska Gov. Sarah Palin, who drew some of the event's biggest cheers with her stump remarks even though she fumbled a bit at the start when she referred to "Grand Rapids."
McCain, who all but called for Cox's ouster from the Bush administration, has been constantly labeled a reliable Bush helpmate by his Democratic opponents. Bush appointed Cox to lead the SEC in 2005. He had represented the House for 17 years and served on congressional committees overseeing investor protection and U.S. capital markets.
"The chairman of the SEC serves at the appointment of the president and, in my view, has betrayed the public's trust," McCain told the crowd at a rally in this battleground state. "If I were president today, I would fire him."
SEC spokesman John Heine said he had no immediate comment. Cox's term ends in June 2009 although he could remain longer until a replacement is named.
Earlier this week, Obama criticized McCain for responding to the financial turmoil on Wall Street by suggesting the creation of a high-level commission to study its causes.
In his speech in Cedar Rapids, McCain proposed creating a trust to work with the private sector and regulators to identify mortgage and financial institutions that are weak and to take measures to strengthen them.
"Today we need a plan that doesn't wait until the system fails," the senator said. "For troubled institutions, this will provide an orderly process through which to identify bad loans and eventually sell them."
Stocks on Wall Street have tumbled this week amid the worst financial meltdown in the U.S. since the Great Depression. Investment banker Lehman Brothers filed for bankruptcy, retail broker Merrill Lynch agreed to be sold for half its recent value and the government agreed to an $85 billion loan to prop up mega-insurer AIG.
McCain, meanwhile, has shifted from saying up front that the country's economic fundamentals were strong. Ever since he endured widespread ridicule for that view, he has said the economy in "crisis" but that the fundamental productivity of the American worker endures.
Most of the remainder of McCain's speech was political in nature, accusing Obama and the Democratic leadership of Congress of exploiting economic problems for political gain.
"My friends, that is the kind of me-first, country-second politics that are broken in Washington," said McCain, who has served in Congress for 26 years. "My opponent sees an economic crisis as a political opportunity instead of a time to lead. Sen. Obama isn't change; he's part of the problem with Washington."
On Tuesday, McCain said flatly that he opposed an AIG bailout. On Wednesday, when it was announced, he said it had been "forced" on the country. On Thursday, McCain accused Obama of failing to take a stand on the bailout although McCain too has not said whether he agreed or disagreed with the government's action.
"When AIG was bailed out, I didn't like it, but I understood it needed to be done to protect hard-working Americans with insurance policies and annuities. Sen. Obama didn't take a position," McCain said. "On the biggest issue of the day, he didn't know what to think."
In fact, Obama's response was similar to McCain's. He told voters at a stop in Elko, Nev., on Wednesday that the government "must not bail out the shareholders or the management of AIG that were making big profits when times were good. They shouldn't be bailed out when times are bad."
I knew something like this would happen since I found out about Naked Short Selling a few years ago. It is too easy for these Naked Short Selling Crooks to manipulate the market for their own benefit as we saw with bear stearns. Worst of all, the SEC was letting them get away with it. Now the SEC is cracking down!
Are Short Sellers to Blame for the Financial Crisis?
"It was sad to see Merrill go down as well," said the voice from inside Lehman Brothers this week as he pondered his own future. "But at least they screwed the shorts. That was good to see."
It was also, at least in the minds of many angry investment bank CEOs, a long time coming. In the months leading up to the current market chaos, the short sellers have been on the prowl. But now the witch hunt has begun. The shorts nailed Lehman and Bear Stearns by betting that their shares would continue to fall. And now they have Morgan Stanley and Goldman Sachs in their sights, sparking speculation that the last two remaining go-it-alone investment banking giants may have to find a deep-pocketed commercial bank to partner up with. "What's happening out there? It's very clear to me — we're in the midst of a market controlled by fear and rumors, and short sellers are driving our stock down," fumed John Mack, CEO of Morgan Stanley, in a memo to employees. "You should know that the Management Committee and I are taking every step possible to stop this irresponsible action in the market. We have talked to Secretary [Hank] Paulson and the Treasury. We have talked to Chairman [Chris] Cox and the SEC." If short sellers could be rounded up and roasted as heretics to the true bull market religion, there'd be a rush of people from Lehman and Merrill fighting to add wood to the fire. And Mack would bring the gasoline.
Short sellers borrow stock and sell it, essentially betting that the price of their target company will fall before they have to replace the borrowed shares. They have been disparaged as vultures, rumor mongers, cheats and criminals. But they have not, by and large, been wrong in their choice of targets. Bear and Lehman died because they were undercapitalized. Merrill's own mismanagement helped to chase it into the arms of B of A. Yet in the case of AIG, the argument is that the company would have remained afloat had its stock price not been driven down, which triggered a credit downgrading that then required AIG to raise $14 billion in capital overnight to meet collateral requirements on its credit default swaps.
Yesterday, SEC Commissioner Cox responded to the pressure. The SEC instituted a "Hard T+3 Close-Out Requirement," meaning that short sellers and their broker-dealers must deliver securities by the close of business on the settlement, three days after the sale. It's an answer to previous complaints about the prevalence of so-called "naked" short selling: that is, selling shares that you don't actually have in hand, and have not made arrangements to have. Naked shorting allows traders to potentially manipulate stocks. The SEC is also considering an emergency order forcing hedge funds, which employ short selling as part of their trading styles, that have a $100 million portfolio to report their short positions daily. The implicit threat is, We will know who you are. (Long positions are already known by the SEC.) Also on Thursday Britain said it will ban all short selling of financial stocks until at least next January, while New York Attorney General Andrew Cuomo announced that he was launching an investigation into complaints of short sellers spreading false rumors about targeted companies like Lehman Brothers, AIG, Goldman Sachs and Morgan Stanley.
There's a furious argument over whether shorts hastened the demise of Lehman and AIG, cutting the off their oxygen when it was desperately needed. And some have laid the blame at the feet of SEC commissioner Cox. "Chris Cox is responsible for the largest destruction of wealth in U.S. history," hissed Mad Money maestro Jim Cramer on his CNBC show on Tuesday. "Because of Cox, the shorts won." (Republican nominee John McCain called Thursday for Cox to be fired — the same Cox some conservatives touted as a possible running mate earlier this year. President Bush said he fully supports his appointee.)
Last year the SEC let the longstanding uptick rule expire, which stipulated that traders could short a stock only after it had moved up. Cox called the rule useless, because an uptick can be just a penny in the decimalized market. His view is supported by academics such as MIT's Paul Asquith, who has done extensive research on short sales. Asquith reviewed two years of data during which short trades were tracked by the SEC, and found that 30% of all trades are short sales. All the short sellers are going to do is make the market react faster, he says. "The question is, Can the short seller take a firm down? The answer is no. Not by themselves. If there is nothing fundamentally wrong, all you need is a couple of smart people on the other side to show that they're wrong," says Asquith.
Lehman CEO Dick Fuld complained loudly to the SEC earlier this year that his company was the victim of shorts such as David Einhorn, of Greenlight Capital, for badmouthing the company's accounting. Einhorn was unapologetic. Fuld got some action after the SEC sought to stop naked shorting with a do-not-mess-with" list of 18 financial institutions such as Fannie Mae, Freddie Mac and investment banks. On July 15, the SEC issued an emergency order temporarily mandating that anyone who wants to short a stock "must borrow or arrange to borrow the security or otherwise have the security available to borrow in its inventory prior to effecting the short sale." As Cox explained in an op-ed, "Our emergency order is not a response to unbridled naked short selling in financial issues — so far, that has not occurred — but rather it is intended as a preventative step to help restore market confidence at a time when it is sorely needed."
The SEC's order expired August 12. You know what happened after that.
Are Short Sellers to Blame for the Financial Crisis?
"It was sad to see Merrill go down as well," said the voice from inside Lehman Brothers this week as he pondered his own future. "But at least they screwed the shorts. That was good to see."
It was also, at least in the minds of many angry investment bank CEOs, a long time coming. In the months leading up to the current market chaos, the short sellers have been on the prowl. But now the witch hunt has begun. The shorts nailed Lehman and Bear Stearns by betting that their shares would continue to fall. And now they have Morgan Stanley and Goldman Sachs in their sights, sparking speculation that the last two remaining go-it-alone investment banking giants may have to find a deep-pocketed commercial bank to partner up with. "What's happening out there? It's very clear to me — we're in the midst of a market controlled by fear and rumors, and short sellers are driving our stock down," fumed John Mack, CEO of Morgan Stanley, in a memo to employees. "You should know that the Management Committee and I are taking every step possible to stop this irresponsible action in the market. We have talked to Secretary [Hank] Paulson and the Treasury. We have talked to Chairman [Chris] Cox and the SEC." If short sellers could be rounded up and roasted as heretics to the true bull market religion, there'd be a rush of people from Lehman and Merrill fighting to add wood to the fire. And Mack would bring the gasoline.
Short sellers borrow stock and sell it, essentially betting that the price of their target company will fall before they have to replace the borrowed shares. They have been disparaged as vultures, rumor mongers, cheats and criminals. But they have not, by and large, been wrong in their choice of targets. Bear and Lehman died because they were undercapitalized. Merrill's own mismanagement helped to chase it into the arms of B of A. Yet in the case of AIG, the argument is that the company would have remained afloat had its stock price not been driven down, which triggered a credit downgrading that then required AIG to raise $14 billion in capital overnight to meet collateral requirements on its credit default swaps.
Yesterday, SEC Commissioner Cox responded to the pressure. The SEC instituted a "Hard T+3 Close-Out Requirement," meaning that short sellers and their broker-dealers must deliver securities by the close of business on the settlement, three days after the sale. It's an answer to previous complaints about the prevalence of so-called "naked" short selling: that is, selling shares that you don't actually have in hand, and have not made arrangements to have. Naked shorting allows traders to potentially manipulate stocks. The SEC is also considering an emergency order forcing hedge funds, which employ short selling as part of their trading styles, that have a $100 million portfolio to report their short positions daily. The implicit threat is, We will know who you are. (Long positions are already known by the SEC.) Also on Thursday Britain said it will ban all short selling of financial stocks until at least next January, while New York Attorney General Andrew Cuomo announced that he was launching an investigation into complaints of short sellers spreading false rumors about targeted companies like Lehman Brothers, AIG, Goldman Sachs and Morgan Stanley.
There's a furious argument over whether shorts hastened the demise of Lehman and AIG, cutting the off their oxygen when it was desperately needed. And some have laid the blame at the feet of SEC commissioner Cox. "Chris Cox is responsible for the largest destruction of wealth in U.S. history," hissed Mad Money maestro Jim Cramer on his CNBC show on Tuesday. "Because of Cox, the shorts won." (Republican nominee John McCain called Thursday for Cox to be fired — the same Cox some conservatives touted as a possible running mate earlier this year. President Bush said he fully supports his appointee.)
Last year the SEC let the longstanding uptick rule expire, which stipulated that traders could short a stock only after it had moved up. Cox called the rule useless, because an uptick can be just a penny in the decimalized market. His view is supported by academics such as MIT's Paul Asquith, who has done extensive research on short sales. Asquith reviewed two years of data during which short trades were tracked by the SEC, and found that 30% of all trades are short sales. All the short sellers are going to do is make the market react faster, he says. "The question is, Can the short seller take a firm down? The answer is no. Not by themselves. If there is nothing fundamentally wrong, all you need is a couple of smart people on the other side to show that they're wrong," says Asquith.
Lehman CEO Dick Fuld complained loudly to the SEC earlier this year that his company was the victim of shorts such as David Einhorn, of Greenlight Capital, for badmouthing the company's accounting. Einhorn was unapologetic. Fuld got some action after the SEC sought to stop naked shorting with a do-not-mess-with" list of 18 financial institutions such as Fannie Mae, Freddie Mac and investment banks. On July 15, the SEC issued an emergency order temporarily mandating that anyone who wants to short a stock "must borrow or arrange to borrow the security or otherwise have the security available to borrow in its inventory prior to effecting the short sale." As Cox explained in an op-ed, "Our emergency order is not a response to unbridled naked short selling in financial issues — so far, that has not occurred — but rather it is intended as a preventative step to help restore market confidence at a time when it is sorely needed."
The SEC's order expired August 12. You know what happened after that.
SEC Cracks Down on 'Naked' Short Sales
http://www.smartmoney.com/breaking-news/smw/index.cfm?story=20080917111150
So many potential stocks to buy down here. Go anywhere and you'll see so many good company down and ready to buy. It's like the Kmart blue light special!
SIRI starting to look good! SEC cracking down on those dam Naked Shorts.
SIRI starting to look good! SEC cracking down on those dam Naked Shorts, It about time!