SyndicateTwo's Stock Board

[bbqporkwings]

Yes, I read that. I pointed out that follow the money should have been within that list. The problem is the unwind of leverage isn't putting money elsewhere as of yet. It may not. As 'the boys' lower their risk with some actual management they just might not run their credit cards up. The consumer seems to be entering that phase and that should have a sobering affect on the financials, and their risk stress tests. They are over exposed, period. The numbers that they are dealing with today dwarf the LTCM fiasco. It's much bigger than us here in the US as well. The Marianas are near 60% in foreclosure. BoE has nationalized Northern Rock. Several Euro countries are sweating it. I've read where Ackermann(Deutsche Bank) had just made a global pass and was finding that China, Singapore and Middle East SovereignWealth were becoming much less receptive to these bail outs supporting our dollar and the EURO. They are some of the foundation cards that this house of cards was built upon. S&P feels that GS and LEH could shed 20/30% from what they just posted of ½ of year ago earnings. Bove is calling to buy financials, and he just posted to expect another $6/7B writedown from BOA, yet all of the headlines keep touting how we are getting ready to run with a post-Bear rally with what seems to be some dismal numbers coming this week all weekend. We may very well. We should take note of the drastic measures that the FED is inventing to wrestle this problem and not under estimate it's severity.

http://blogs.wsj.com/deals/2008/03/18/the-us-markets-where-confidence-seems-to-have-vanished/?mod=googlenews_wsj
Mr. Ackermann also warned that he had recently spent three weeks on a tour of Singapore, China and the Middle East, and that the government investment funds there now seem less excited about continuing to inject capital into U.S. and European banks. “Their readiness to continue making large investments that can quickly lead to large losses is not what it once was. I believe the readiness to make investments for the sake of saving the Western system and to forgo investments in their own country has clearly been reduced,” he said.