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Fed. 1day Reverse Repo -7.25B
Fed. 1day Reverse Repo -7.25B
Futures (2) + World Indices
http://www.cme.com/dta/del/globex.html
http://money.cnn.com/data/premarket/
World Indices (2) Mini Charts
Updates every 60sec ~ Watch the dates!!
http://www.wwfn.com/commentary/oscharts.html
http://www.allstocks.com/markets/World_Charts/Asian_Stock_Markets/asian_stock_markets.html
W@G2 QQQQ 03/19/08 for a 03/20/08 close {A 2 Day W@G}
45.01 bob3
44.73 frenchee
44.80 Farooq
Gov't Has Plan to Ease Capital Collars
Tuesday March 18, 10:15 pm ET
By Marcy Gordon, AP Business Writer
Government Announcing Plan to Ease Capital Restraints on Fannie, Freddie
WASHINGTON (AP) -- The government is announcing a plan Wednesday to loosen capital restraints on Fannie Mae and Freddie Mac so that the mortgage-finance companies can expand their roles in the stricken housing market, people familiar with the matter said Tuesday.
The Office of Federal Housing Enterprise Oversight, which oversees the government-sponsored companies, has reached agreement with them on an arrangement in which the cash cushion they are required to maintain against risk -- now nearly $20 billion for the two -- will be reduced by a third. The freed-up money will go toward buying mortgages of struggling homeowners to enable them to refinance into more affordable loans.
The capital requirement for each company will be reduced from the current 30 percent to 20 percent, one person familiar with the discussions said. Under the deal, Fannie and Freddie will commit to raise additional capital. That could be done through special sales of stock or cuts in dividends. Together they will be expected to provide up to $200 billion in new funding for home loans, the person said.
The federal agency scheduled a news conference for Wednesday morning with its director, James B. Lockhart, Fannie Mae President and Chief Executive Daniel Mudd, and Freddie Mac Chairman and CEO Richard Syron. The subject was not disclosed, but people familiar with the matter said the plan to reduce the required capital reserve would be announced. They spoke on condition of anonymity because the plan hadn't yet been made public.
OFHEO spokeswoman Stefanie Mullin declined to comment, as did Fannie Mae spokesman Brian Faith. Spokesmen for Freddie Mac couldn't immediately be reached for comment Tuesday evening.
The two companies together hold or guarantee around $4.9 trillion in home-loan debt. As the mortgage crisis and ensuing credit crunch have worsened in recent months, policy makers have increasingly looked to them to step up their participation in the hobbled market for securities backed by mortgages.
It would be the third step the government has taken in recent weeks to allow Washington-based Fannie and McLean, Va.-based Freddie to shoulder larger burdens in the mortgage market despite their multibillion-dollar fourth-quarter losses and expectations of further red ink this year.
The $168 billion economic stimulus package enacted last month included a temporary increase in the cap on mortgages that the companies can purchase or guarantee, from $417,000 to $729,750 in high-cost markets. And, as a reward for filing timely financial statements following multibillion-dollar accounting scandals, Fannie and Freddie were freed on March 1 of a combined $1.5 trillion cap on their mortgage-investment holdings.
Influential Democratic lawmakers have been pushing for a reduction in the companies' capital-holding requirements. Bush administration officials and numerous Republican lawmakers, on the other hand, have long opposed allowing Fannie and Freddie to take on more debt, contending that doing so could threaten the global financial system.
http://biz.yahoo.com/ap/080318/fannie_freddie_capital.html?.v=1
Bernanke May Cut Benchmark Rate by Most Since Volcker (Update6)
Bloomberg.com
By Steve Matthews
More Photos/Details
March 18 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke may be readying the deepest interest-rate cut in a generation as the central bank struggles to prevent a meltdown in financial markets and a recession.
Traders predict the Federal Open Market Committee, meeting today in Washington, will lower the overnight lending rate by a full percentage point, based on futures prices in Chicago. That would be the biggest reduction since 1984, when Paul Volcker led the central bank, and would bring the benchmark rate down to 2 percent.
The Fed took emergency steps over the weekend to stave off a financial panic, lowering its rate on direct loans to banks and becoming lender of last resort for Wall Street's biggest dealers in government bonds.
``The Fed has moved very aggressively to deal with liquidity problems that are major,'' said former Fed Governor Lyle Gramley, now a senior adviser at Stanford Group Co. in Washington, who said today's reduction may be as much as a full percentage point. ``They need to be aggressive on the monetary policy side. This is the worst crisis we have faced in more than 50 years.''
The severity of the crisis was underscored by the Fed's emergency action on the evening of March 16, the first weekend policy shift since 1979. A week ago, the debate among economists was whether the Fed would cut by 50 basis points or 75 basis points.
Volcker's Fed
Now, a reduction of 1 percentage point is seen as almost a sure bet among futures traders, and late yesterday some even anticipated a move of as much as 1.25 percentage points. Either would be the deepest since Volcker's Fed lowered the federal funds rate to 10 percent from 11.75 percent in October 1984. The funds rate became the Fed's principal tool of monetary policy around 1990.
The dollar pared losses against the euro and rose against the yen, snapping a four-day slide. Treasuries declined, pushing the two-year yield up 10 basis points to 1.45 percent as of 10:40 a.m. in New York. Stocks rallied, with the Standard & Poor's 500 index gaining 2.3 percent to 1306.33.
Bernanke, whose views on monetary policy were shaped by his scholarly work on the Great Depression, has seen losses at the world's biggest banks and securities dealers balloon to $195 billion since the start of last year, culminating in the collapse last week of the fifth-largest securities firm, Bear Stearns Cos.
Bernanke has failed to calm the turmoil, which his predecessor Alan Greenspan calls the ``most wrenching'' since the end of World War II, even after lowering the overnight rate five times since September and committing to pump an unprecedented $400 billion in cash and securities into the banking system.
Avoiding a Crash
Policy makers started meeting today at about 8:30 a.m. They have scheduled an announcement at about 2:15 p.m. in Washington.
Today's economic reports reinforced concerns over the housing slump and inflation. Housing starts in the U.S. dropped in February and building permits fell to the lowest level in more than 16 years. Prices paid to U.S. producers rose less than forecast in February, while prices excluding food and energy jumped the most since November 2006.
Bernanke, 54, has already stepped up efforts to keep strains in markets from triggering a crash. The Fed agreed March 16 to help finance JPMorgan Chase & Co.'s purchase of the failing Bear Stearns and the central bank offered last week to lend $200 billion in Treasuries in exchange for debt that includes mortgage-backed securities.
`Still Very Fragile'
``The Fed will be extremely hesitant to disappoint the markets,'' said Stephen Stanley, chief economist at RBS Greenwich Capital Markets Inc. and a former member of the Richmond Fed staff, who predicts a full percentage-point cut. ``Things are still very fragile. We are in a situation where credit tightening has started to feed on itself, and it has real economic implications.''
Recent economic data suggests the first recession since 2001 may have begun in December or January. Harvard University economist Martin Feldstein, a member of the committee that officially declares when a recession has started, said last week that he believed a recession was under way and it could be the most severe since World War II.
Spillover Effects
``They are worried about the spillover effects of financial markets and what they can do to keep that from happening,'' said Robert Eisenbeis, former research director at the Atlanta Fed who is now chief monetary economist at Cumberland Advisors Inc. in Vineland, New Jersey.
The economy expanded 0.6 percent at an annualized pace last quarter and economists surveyed by Bloomberg News this month predicted the pace will slow to 0.1 percent in January to March.
``Bernanke believes the economy is in a very serious situation right now,'' said Paul Kasriel, director of economic research at Northern Trust Co. in Chicago. ``The Fed is worried about a very severe credit contraction that can cause an even weaker economy.''
Fed officials lowered their projections for economic growth by half a percentage point this year, according to quarterly figures published last month.
Fed Governor Frederic Mishkin said March 4 that the economy may face an ``adverse feedback loop,'' where tightening credit and a declining economy create a cycle that leads to further deteriorating conditions. The FOMC discussed that possibility during the January meeting, according to its minutes.
``The overriding concern is the condition of the financial markets.'' said William Ford, former president of the Federal Reserve Bank of Atlanta and now chairman of the finance department at Middle Tennessee State University. ``They are fighting a financial panic and want to preserve orderly markets.''
To contact the reporter on this story: Steve Matthews in Atlanta at smatthews@bloomberg.net.
Last Updated: March 18, 2008 10:53 EDT
Fed.(1)2) 1day RP + 9.25B [net add + 3.25B]
Fed.(2)28day 1day Forward 15B
=====================================
The following operation has just been announced:
Note: This operation is forward settling.
Note: This repo operation has 1 collateral tranche(s).
======================================
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed.(1)2) 1day RP + 9.25B [net add + 3.25B]
Fed.(2)28day 1day Forward 15B
=====================================
The following operation has just been announced:
Note: This operation is forward settling.
Note: This repo operation has 1 collateral tranche(s).
======================================
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Lehman Note Sales
#MSG-27723664
nice work chichi2, expose the crooks/
Fed. 1day RP + 12.00B [Net Add + 7.50B ]
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed. 1day RP + 12.00B [Net Add + 7.50B ]
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed acts Sunday to prevent global bank run Monday
http://www.marketwatch.com/news/story/fed-acts-sunday-prevent-global/story.aspx?guid=%7B43265631%2D1656%2D4697%2D8377%2D55F05D859B76%7D
W@G1 QQQQ 03/17/08 for a 03/19/08 close
43.00 dr_sean
41.17 frenchee
40.00 bob3
From Edge of Disaster huge turn futures
give it some time to settle in but Gold + 15
Fed Approves Cut to Its Lending Rate to Financial Institutions to 3.25 Percent
WASHINGTON (AP) -- The Federal Reserve announced a series of new steps Sunday to help provide relief to a spreading credit crisis that threatens to plunge the economy into recession.
The central bank approved a cut to its lending rate to financial institutions to 3.25 percent from 3.50 percent, effective immediately, and created another lending facility for big investment banks to secure short-term loan
The steps are "designed to bolster market liquidity and promote orderly market functioning," the Fed said in a statement. "Liquid well-functioning markets are essential for the promotion of economic growth."
The new lending facility will be available to financial institutions on Monday.
It will be in place for at least six months and "may be extended as conditions warrant," the Fed said. The interest rate will be 3.25 percent and a range of collateral will be accepted to back the loans.
The Fed also approved the financing arrangement announced Sunday by JPMorgan Chase & Co. and the Bear Stearns Cos.
The Fed's actions are the latest in a recent string of unconventional steps to deal with a worsening credit crisis that has unhinged Wall Street. And, the action comes just two days before the central bank's scheduled meeting on Tuesday, where another big cut to a key interest rate that affects millions of people and businesses is expected to be ordered.
The "discount" rate cut announced Sunday covers only short-term loans that financial institutions get directly from the Federal Reserve.
http://biz.yahoo.com/ap/080316/fed_credit_crisis.html
Futures (2) + World Indices
http://www.cme.com/dta/del/globex.html
http://money.cnn.com/data/premarket/
World Indices (2) Mini Charts
Updates every 60sec ~ Watch the dates!!
http://www.wwfn.com/commentary/oscharts.html
http://www.allstocks.com/markets/World_Charts/Asian_Stock_Markets/asian_stock_markets.html
**JPMorgan Closer on Deal for Bear Stearns**
Sunday March 16, 4:59 pm ET
JPMorgan Moves Closer to Deal to Buy Ailing Bear Stearns
NEW YORK (AP) -- Wall Street is waiting for word that JPMorgan Chase & Co. reached an agreement to acquire wounded investment bank Bear Stearns Cos.
The two sides reportedly want a deal locked up before investors can put pressure on both of their stocks once Asian markets open for business. The Wall Street Journal reports the two banks were close to a deal for JPMorgan to buy Bear for $20 a share, or $2.2 billion.
The government, which on Friday helped facilitate a deal to provide funding to Bear Stearns through JPMorgan, continues to monitor the situation closely.
Monthly Economic Calendar
Prepared by Dr. Scott Brown
Printer Friendly Version (PDF file)
http://www.rjf.com/econocal.htm
Would she point up/dn marketwisewoman, 1 ping only
House seeks debt limit increase to $10.2 trillion
Fri Mar 14, 2008 6:45pm EDT
WASHINGTON (Reuters) - The government's debt limit would be raised to $10.2 trillion under a budget plan for next year approved by the U.S. House of Representatives.
The House's fiscal 2009 budget, which passed on Thursday, would increase U.S. borrowing authority by $385 billion from the current limit of $9.815 trillion, according to the House Budget Committee.
The Senate on Friday passed its own version of a fiscal 2009 budget that did not address the question of raising federal borrowing authority.
The two chambers in coming weeks are expected to try to work out their differences and then pass a budget for next year that would spend $3 trillion while projecting a deficit in the range of $340 billion to $366 billion for the year.
It is not clear whether negotiators will adjust the House's proposed $10.2 trillion debt limit.
Large annual deficits have caused the federal debt to climb steeply since President George W. Bush took office, rising from $5.6 trillion in January, 2001, to $9.3 trillion on Wednesday.
Congress last approved an increase in Washington's borrowing authority last September, increasing the credit limit by $850 billion.
Some lawmakers recently have estimated that the Treasury Department could bump up against the current $9.815 trillion limit either shortly after November presidential and congressional elections or early next year, depending on revenues and economic performance.
Fleck: Fed's latest giveaway won't work
By Bill Fleckenstein
Contrarian Chronicles
3/14/2008 11:20 AM ET
The financial system's 'Bailout of the Week' -- $200 billion in loans to securities dealers, with risky mortgage-backed debt as collateral -- is little but stalling for time.
For some time now, the Federal Reserve has been writing a book. It's called "What Not to Do," and on Tuesday it penned a chapter called "The Prudent Bailing Out the Reckless."
That was via the Fed's creation of a $200 billion Term Securities Lending Facility, a pool of money it can lend to securities dealers on top of funds it has already injected into the financial system.
I guess the sight of all those suffering hedge funds and brokers was just too much to bear.
Now, I realize the Fed was created to provide a liquidity backstop in times of emergency. But the Fed has abused its privilege for so long -- by being the creator and proponent of excess liquidity and the problems it causes -- that, in my book, the Fed is nothing short of an abomination. The reality that's eluded Fed "experts" is simple: Credits in much of the financial system are simply no good. And creating liquidity and stalling for time won't make those credits good.
I find it stunning that the Fed is willing to open up its tool kit when faced with liquidity problems -- spawned from bubbles of its own making -- and yet while those bubbles were inflating, the Fed kept it snapped shut tight.
The cheerleader for excess
Former Fed Chairman Alan Greenspan is responsible for this mess. At every juncture, he insisted on getting out a megaphone and cheering the bubbles. That is why we're in dire straits now.
This action by the Fed will temporarily alleviate some pressure, but it will not change the fundamental problem: Home prices were in a bubble that has now burst. People making median salaries in this country can't afford to buy houses. And even folks who make more money often own more house than they can afford.
The Fed's move set off a big rally on Wall Street, but it lasted just one day. This problem is going to run its course. There's no bubble to bail out the housing bubble.
As to the folks who think commodities may be the next bubble: They might be right.
But exploding commodity prices will not help. They're not going to make housing more affordable because less of people's paychecks will be available for mortgage payments.
Will Fed be left holding the bad?
This just goes to show you the Fed will move heaven and earth to try to keep Wall Street (and, by extension, the economy) running. The Fed cares nothing about capitalism, inflation or the dollar, and it really cares nothing about the message that it sends to the world regarding its aims. Just imagine the image that would be projected if the comrades in power here declared Fannie Mae (FNM, news, msgs) to be a ward of the U.S.
Consider the potential ramifications of the Term Securities Lending Facility, under which the Fed will lend Treasurys for a period of 28 days, taking mortgage-backed debt as collateral.
Before its implementation, the chance of the Fed buying a piece of paper that could deteriorate rapidly over the course of a couple of repo terms would have been small. But now that the Fed, through this facility, is willing to accept (exchange for Treasurys, actually) "AAA-rated" paper -- and remember that the rating agencies are suspect -- it's not inconceivable that the following could occur:
The Fed might actually start taking paper at one price and then find out (by the time XYZ financial institution is supposed to take it back) that the paper is trading at a different price. Inquiring minds would like to know what the Fed would do about these losses if the repo'ing entity was determined not to take back the collateral.
The ball is in Bernanke's court
Creating liquidity and stalling for time won't make those credits good. Credit is contracting all across the financial system, in America as well as around the globe. At the same time, credits are going bad. Both of these problems keep lapping up against each other, and their magnitude will render bailouts useless.
Despite that glaring reality, the Fed remains intent on monetizing whatever needs to be monetized, as Chairman Ben Bernanke thinks this can prevent the underlying mass of home-price issues and the economic consequences of the burst housing bubble from doing what they will do.
But in the end, he's going to shred the currency market and at some point the Treasury market. And, though Greenspan deserves all the blame, Bernanke will likely get it -- with history erroneously declaring him to be the worst Fed chairman ever.
At the time of publication, Bill Fleckenstein did not own or control shares of any equity mentioned in this column.
http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/FedsLatestGiveawayWontWork.aspx
l agree any dips should be bot
be they adding to your positions or swing to capture profits.
Don't let the boyz shake you out, they are the ones in trouble
with margin calls...Not us Gold Bugs.
smile, your on candid papers...
Rescue Me: A Fed Bailout Crosses a Line
By GRETCHEN MORGENSON
Published: March 16, 2008
What are the consequences of a world in which regulators rescue even the financial institutions whose recklessness and greed helped create the titanic credit mess we are in? Will the consequences be an even weaker currency, rampant inflation, a continuation of the slow bleed that we have witnessed at banks and brokerage firms for the past year?
Agreeing to guarantee a 28-day credit line to Bear Stearns, by way of JPMorgan Chase, the Federal Reserve Bank of New York conceded last Friday that no sizable firm with a book of mortgage securities or loans out to mortgage issuers could be allowed to fail right now. It was the most explicit sign yet of the Fed’s “Rescues ‘R’ Us” doctrine that already helped to force the marriage of Bank of America and Countrywide.
But why save Bear Stearns? The beneficiary of this bailout, remember, has often operated in the gray areas of Wall Street and with an aggressive, brass-knuckles approach. Until regulators came along in 1996, Bear Stearns was happy to provide its balance sheet and imprimatur to bucket-shop brokerages like Stratton Oakmont and A. R. Baron, clearing dubious stock trades.
And as one of the biggest players in the mortgage securities business on Wall Street, Bear provided munificent lines of credit to public-spirited subprime lenders like New Century (now bankrupt). It is also the owner of EMC Mortgage Servicing, one of the most aggressive subprime mortgage servicers out there.
Bear’s default rates on so-called Alt-A mortgages that it underwrote also indicates that its lending practices were especially lax during the real estate boom. As of February, according to Bloomberg data, 15 percent of these loans in its underwritten securities were delinquent by more than 60 days or in foreclosure. That compares with an industry average of 8.4 percent.
Let’s not forget that Bear Stearns lost billions for its clients last summer, when two hedge funds investing heavily in mortgage securities collapsed. And the firm tried to dump toxic mortgage securities it held in its own vaults onto the public last summer in an initial public offering of a financial company called Everquest Financial. Thankfully, that deal never got done.
Recall, too, that back in 1998, when the Long Term Capital Management hedge fund required a Fed-arranged bailout, Bear Stearns refused to join the rescue effort. Jimmy Cayne, then chief executive at the firm, told the Fed to take a hike.
And so, Bear Stearns, a firm that some say is this decade’s version of Drexel Burnham Lambert, the anything-goes, 1980s junk-bond shop dominated by Michael Milken, is rescued. Almost two decades ago, Drexel was left to die.
Bear Stearns and Drexel have a lot in common. And yet their differing outcomes offer proof that we are in a very different and scarier place than in the late 1980s.
“Why not set an example of Bear Stearns, the guys who have this record of dog-eat-dog, we’re brass knuckles, we’re tough?” asked William A. Fleckenstein, president of Fleckenstein Capital in Issaquah, Wash., and co-author with Fred Sheehan of “Greenspan’s Bubbles: The Age of Ignorance at the Federal Reserve.” “This is the perfect time to set an example, but they are not interested in setting an example. We are Bailout Nation.”
And so we are. After years of never allowing any of our financial institutions to fail, they have become so enormous that nobody will be allowed to sink beneath the waves. Otherwise, a tsunami would swamp the hedge funds, banks and other brokerage firms that remain afloat.
If Bear Stearns failed, for example, it would result in a wholesale dumping of mortgage securities and other assets onto a market that is frozen and where buyers are in hiding. This fire sale would force surviving institutions carrying the same types of securities on their books to mark down their positions, generating more margin calls and creating more failures.
As of last Nov. 30, Bear Stearns had on its books approximately $46 billion of mortgages, mortgage-backed and asset-backed securities. Jettisoning such a portfolio onto a mortgage market that is not operative would, it is plain to see, be a disaster.
But, who knows what those mortgages are really worth? According to Bear Stearns’s annual report, $29 billion of them were valued using computer models “derived from” or “supported by” some kind of observable market data. The value of the remaining $17 billion is an estimate based on “internally developed models or methodologies utilizing significant inputs that are generally less readily observable.”
In other words, your guess is as good as mine.
To some degree, what happened at Bear, of course, was a classic run on the bank — the kind immortalized in Frank Capra’s homage to financial responsibility, “It’s a Wonderful Life.” As fears about Bear’s financial position heightened, its customers began demanding their cash and big hedge funds that were using the firm as an administrative back office or lender moved their accounts elsewhere.
“For the government to print money at the expense of taxpayers as opposed to requiring or going about a receivership and wind-down of any insolvent institutions should be troubling to taxpayers and regulators alike,” said Josh Rosner, an analyst at Graham Fisher & Company and an expert on mortgage securities. “The Fed has now crossed the line in a very clear way on ‘moral hazard,’ because they have opened the door to the view that they are required to save almost any institution through non-recourse loans — except the government doesn’t have the money and it destroys the U.S.’s reputation as the broadest, deepest, most transparent and properly regulated capital market in the world.”
And here is the unfortunate refrain. Investors, already mistrusting many corporate and government leaders, were once again assured that nothing was wrong — right up until the very end. So is it any wonder investors react to every market rumor of an impending failure with the certainty that it’s true? In too many cases, the rumors turned out to be true, notwithstanding the attempts at reassurance by executives and policy makers.
Only last Monday, for example, Bear put out a press release saying, “there is absolutely no truth to the rumors of liquidity problems that circulated today in the market.” The next day, Christopher Cox, the chairman of the Securities and Exchange Commission, said he was comfortable that the major Wall Street firms were resting on satisfactory “capital cushions.”
Three days later, it was bailout time for Bear.
HERE is the bind the Fed is in: Like the boy who puts his finger in the dike to keep sea water from pouring in, the Fed finds that new leaks keep emerging.
Regulators must do whatever they can to keep the markets open and operating, and much of that relies upon the confidence of investors. But by offering to backstop firms like Bear, who were the very architects of their own — and the market’s — current problems, overseers like the Fed undermine a little bit more of that confidence.
Another worry? How many well-capitalized institutions remain at the ready to take over those firms that may encounter turbulence in the future? Banks just do not have the capital that is needed to rescue troubled firms.
That will leave the taxpayer, alas. As usual.
http://www.nytimes.com/2008/03/16/business/16gret.html?pagewanted=1&ei=5087&em&en=2a4262...
Business Events for the Coming Week
Friday March 14, 3:55 pm ET
By The Associated Press
Business Events and Economic Reports Scheduled for the Coming Week
Major business events and economic events scheduled for the coming week (some dates are tentative):
http://biz.yahoo.com/ap/080314/the_week_ahead.html?.v=1
Hecla Mining Up on Expected Output Gain
Friday March 14, 6:32 pm ET
Hecla Mining Rises As Investors Reward Decision to Buy Out Partner in Big Alaskan Silver Mine
NEW YORK (AP) -- Shares of Hecla Mining Co., which produces silver, as well as lead and zinc, rose Friday as investors gave their approval to a recent Alaskan silver mine acquisition.
Last month the company closed on a $750 million deal to buy its partner's share of the Greens Creek silver mine on Admiralty Island. Gaining sole ownership of the world's fifth-largest silver mine will double Hecla's silver production to 11 million ounces per year, the Coeur d'Alene, Idaho-based company said.
http://biz.yahoo.com/ap/080314/hecla_mining_mover.html?.v=2
Hecla Mining Up on Expected Output Gain
Friday March 14, 6:32 pm ET
Hecla Mining Rises As Investors Reward Decision to Buy Out Partner in Big Alaskan Silver Mine
NEW YORK (AP) -- Shares of Hecla Mining Co., which produces silver, as well as lead and zinc, rose Friday as investors gave their approval to a recent Alaskan silver mine acquisition.
Last month the company closed on a $750 million deal to buy its partner's share of the Greens Creek silver mine on Admiralty Island. Gaining sole ownership of the world's fifth-largest silver mine will double Hecla's silver production to 11 million ounces per year, the Coeur d'Alene, Idaho-based company said.
http://biz.yahoo.com/ap/080314/hecla_mining_mover.html?.v=2
Fed. Ops: 25.50B Matures this week.
Mon: 4.50B 3day
Tue: 9.00B 7day
Thu: 12.00B 14day
Float: 40.50B
=================================================
Temp Ops:
Perm Ops:
=================================================
Public Debt:
Limit ~ $9,815 T
3/13 ~~ $9,408 T ~~ New high again !
=========================================================
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed. Ops: 25.50B Matures this week.
Mon: 4.50B 3day
Tue: 9.00B 7day
Thu: 12.00B 14day
Float: 40.50B
=================================================
Temp Ops:
Perm Ops:
=================================================
Public Debt:
Limit ~ $9,815 T
3/13 ~~ $9,408 T ~~ New high again !
=========================================================
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Note from Zeev's Kids
We would all like to thank you for your overwhelming support and kind words. We just wanted to take this chance to clarify the details of our father's death.
Zeev was diagnosed with lung cancer over a year ago, however, his untimely death was not related to this condition. Zeev bravely faced his cancer treatments, and outlived all of his doctor's expectations. His cancer did not metastasize to his brain, and was receding in the lung. While in the hospital he had a massive heart attack, and was without heart function for almost 13 minutes. While he as able to be resuscitated, he was rendered unconscious. After 11 days in a coma, we made the very difficult decision to withdraw life support. Zeev died on March 11th.
Our father was a brilliant man, who was full of life. He lived each day to the fullest of his capacity, was giving, and kind. We loved him dearly and he will be missed.
Nevo, Merav, Aviva and Jonathan
Posted by Nevo
Fed. 3day RP + 4.50B [net Add + 0.50B ]
Slosh Report http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed. 3day RP + 4.50B [net Add + 0.50B ]
Slosh Report http://www.gmtfo.com/RepoReader/OMOps.aspx
Foreclosure & projected stats
note how & where it's gaining.
All States are listed.
http://www.currentforeclosures.com/Stats/
http://www.currentforeclosures.com/Stats/projected.asp
Bullwinkle, Foreclosure & projected stats
note how & where it's gaining.
All States are listed.
http://www.currentforeclosures.com/Stats/
http://www.currentforeclosures.com/Stats/projected.asp
Bot, some QQQQ
QQQCQ F 43s
QQQDR M 44s
Great Basin Gold Receives Important South African Mining Regulatory Approvals
Monday March 10, 8:30 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Mar 10, 2008 -- Great Basin Gold Ltd. (Toronto:GBG.TO - News)(AMEX:GBN - News)(JSE: GBG) ("Great Basin Gold") announces that the South African Department of Minerals and Energy ('DME') has approved an amended environmental management plan ('EMP') for the sinking of the vertical shaft at its Burnstone development project.
http://biz.yahoo.com/iw/080310/0372579.html
Great Basin Gold Receives Important South African Mining Regulatory Approvals
Monday March 10, 8:30 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Mar 10, 2008 -- Great Basin Gold Ltd. (Toronto:GBG.TO - News)(AMEX:GBN - News)(JSE: GBG) ("Great Basin Gold") announces that the South African Department of Minerals and Energy ('DME') has approved an amended environmental management plan ('EMP') for the sinking of the vertical shaft at its Burnstone development project.
http://biz.yahoo.com/iw/080310/0372579.html
Fed.(2) 1day RP + 4.00B [Net drain -13.00B ]
Slosh Report http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed.(2) 1day RP + 4.00B [Net drain -13.00B ]
Slosh Report http://www.gmtfo.com/RepoReader/OMOps.aspx