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Palm warns
GOOG why is it selling off afterhours.
Citigroup was able to acquire Travelers because of it.
FLASHBACK: President Clinton In 1999: “The Gramm-Leach-Bliley Act makes the most important legislative changes to the structure of the U.S. financial system since the 1930s. … The Gramm-Leach-Bliley Act is a major achievement that will benefit American consumers, communities, and businesses of all sizes. I thank all of those individuals who played a role in the development and passage of this historic legislation.” (President Bill Clinton, Statement On The Signing Of The Gramm-Leach-Bliley Act Into Law, 11/12/99)
What you said is all true but you left out one important factor. 401K created cir 1983 and stock investments almost mandatory. Prior to that Joe Six pack owned no stocks. The sad part is Joe Six Pack is stuck in a ponzi scheme where advisors STRONGLY recommends to stay long, everything will be alright.
Tyler Durden said..."no f'ing clue what is going on anymore".
March 2, 2009 1:11 PM
This bozo at Zero Hedge bought C Friday promising everyone a short cover rally like VW. Above is his response with C on it way to 20% loss today
AIG Ex-CEO Greenburg owns 38 million shares at 42 cents. I can imagine the mood in the house.
MAURICE R. & CORINNE P. GREENBERG JOINT TENANCY CO 25,269,689
GREENBERG MAURICE R 12,889,788
Freddie Mac (FRE.P) on Monday said Chief Executive Officer David Moffett is quitting just six months after being named to the post as the government forced the No. 2 U.S. mortgage finance company into conservatorship.
You can take the basic Trend Line Fibonacci and you will find the Dow broke out in a run 1995 to 2007. 12 years of overpriced market taken out in 1 year, 6764 is what a REASONABLE market should support.
Take the Fibonacci from 1985 to current. 6764 Dow is the support. Simple chart but it sure says a lot.
I was referring to Private Issue Capital in financial and insurance area.
Merkel, EU reject bailout for eastern Europe
http://biz.yahoo.com/ap/090301/eu_eu_summit.html
The line has been drawn.
Wait a minute while I clear my throat. AIG already got 150 Billion and the market cap continues to go down today around 1 Billion. Additional 30 Billion and the same bozos are running the show? If you invest 30 Billion into a 1 Billion dollar company the stock should go up 30x.... no? The Feds have 180 Billion invested and is fairly close to the highest Market Cap in 2001 (100.00 stock). All the other insurance companies (including Banks) should be running scared because they have to compete with the Federal Government who also regulates them. No one can effectively compete with a government enity, period. How in the world can healthy companies raise capital when the FEDS are your competitors. When WaMu was taken over all depositors got FULL VALUE while the debt holders got ZERO. This my friend will make anyone wonder why they should invest in any company. And the government wonders why liquidity is a problem?
In addition, if the Feds were capitalist minded they would be concern about loss tax reciepts. Kinda of hard to tax yourself. Before long Hugo Chavez will look like an angel.
p.s. I would like to know who is on the other side of the transaction. 180 Billion is floating around somewhere, all within 4 months time.
C and GM has value of ZERO. lol
Do they have 10x credit.
OBAMA READY TO TALK 'GLOBAL NEW DEAL' WITH UK PM; SECURITY FOR FAMILIES IN 'EVERY COUNTRY'...
I wonder how the market reacts.
http://www.timesonline.co.uk/tol/news/uk/article5822265.ece
Some are calling for a VW type ARB short squeeze on C. Interesting angle but VW is a viable company while C has a good chance of trading at 40 cents. I will stick to the sidelines and defer judgement.
Why Citi Common Crashed And Why The Common-Preferred Arb Could Be The Next Volkswagen
http://zerohedge.blogspot.com/2009/02/reason-for-todays-persistent-decline-in.html
If he can keep from getting distracted from the noise he has the qualities to be a very good trader. Cheers to both of you.
Paul Harvey passes away, he was 90 years old. No details yet.
RIP Mr. Harvey, you'll be missed.
Zigzagman had the best post on the subject for Monday. Technicals broke in the S&P 500 and my best guess would be you have 10 to 15 minutes at the open Monday morning to pick up your favorite short instrument. We could have a 700-800 down day or possible lock limit 1000. I wish I could be more positive.
zigzagman who wrote msg# 614910 Post # of 615006
Date: Friday, February 27, 2009 8:22:33 PM
"People were bailing out bigtime because they knew the S&P500 chart would close below 741. and that would trigger another sell signal like the Dow Theory sell signal that happened last week..."<p>
4 post to CR and on IHUB for 8 days and buddy with CR? You must have known him prior to IHUB because I known many around here and still not their buddy. ;)
"one cooperating witness broke down crying, and an attorney "suggested that they begin to pray together," according to the complaint"
This is playing out like made for TV movie.
US case tells tale of Stanford exec's legal woes
The drama is playing out.
http://news.yahoo.com/s/nm/20090227/us_nm/us_stanford_pendergest_holt_1
Here is the post you requested. I could not post it on Zeev thread without grief.
AA At first glance, I was shocked to see a metals company at 6 bucks. Then immediately comes to mind of the debt these companies have taken on. BAC, C and GM downfall is the amount of debt.
"People were bailing out bigtime because they knew the S&P500 chart would close below 741. and that would trigger another sell signal like the Dow Theory sell signal that happened last week..."<p>
You are so right. I would consider you a Pro and will keep an eye on your post for now on.
I was tired of giving back profits too. I joined JerryO paltalk and has guided me on the ups and downs. You can run it in the background like I do. A trader can only keep up with so much information.
http://www.jogtrader.com/paltalksetup.html
I was just doing the calculation based on the 1930's. Came up with 1500 but could not stop laughing so How does DOW 3000 sound.
I am thinking BLACK MONDAY.
Paper Gold or Physical Gold, easy pick. One is based on questionable goods and the other is based on the real deal. Reminds me of the old timer biting gold coins before they accept them.
She is back? No wonder everyone had it. Thankful, I missed the whole ordeal.
What is going on, I see no political post.
Glad to see ya Barbara. Hope all is well.
Glad to see ya Barbara. Hope all is well.
The Ace in the Hole for C is GM could be BK by Monday.
BofA CEO Ken Lewis keeps lips sealed
http://biz.yahoo.com/ap/090227/merrill_bonuses.html
No link??
I see it posted on may threads but no proof. Just rumor.
I remember her years ago. She is a nice lady, very respectful and dedicated.