Comments on: GLOBAL FINANCIAL EMERGENCY http://cryptogon.com/?p=4095 news - analysis - conspiracies Tue, 09 Feb 2010 15:25:23 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: dagobaz http://cryptogon.com/?p=4095&cpage=1#comment-14084 dagobaz Tue, 16 Sep 2008 17:26:05 +0000 http://cryptogon.com/?p=4095#comment-14084 The real problem I am having in this environment is that it is causing distress across ALL asset classes. I have nowhere left that is safe to put cash. @ <i> pookie: </i> yeah, that' s really a charming read. here's another: "Banks can now get loans through the Fed’s newly enhanced "permanent emergency" credit windows, and pose as collateral equities (stocks) and even your deposits. Yes, you heard that right. That is the condition underlying Bank of America’s purchase of Merrill Lynch. BoA can -and will- use the money in your bank account to continue Merrill’s activities, the same ones that led to Lehman’s death: securitization, swaps and derivatives. That is one frightening development. And so, for that matter, is accepting stocks for T-bills. What if those stocks plunge, as so many are doing lately? What if companies go bankrupt? In the end, through the Treasury, it’s once again the taxpayer who’s going to be presented with the bill. " from <i> http://theautomaticearth.blogspot.com/ </i> as for having a drink, well ... 1 isn't gonna make it. Fortunately, I have come up with an answer: a still ! I will start building stills ... after all, I do live in Western NC. @ <i> Kevin, et al: </i> It isn't as though we haven' t known this was coming ... the shakeout is not going to be orderly, imho. All I can hope for now is that it remains peaceful, as I am marooned here, now ... :( cybele ps: regards to <i> The Hindenburg . The real problem I am having in this environment is that it is causing distress across ALL asset classes. I have nowhere left that is safe to put cash.

@ pookie:

yeah, that’ s really a charming read.

here’s another:

“Banks can now get loans through the Fed’s newly enhanced “permanent emergency” credit windows, and pose as collateral equities (stocks) and even your deposits. Yes, you heard that right. That is the condition underlying Bank of America’s purchase of Merrill Lynch. BoA can -and will- use the money in your bank account to continue Merrill’s activities, the same ones that led to Lehman’s death: securitization, swaps and derivatives.

That is one frightening development. And so, for that matter, is accepting stocks for T-bills. What if those stocks plunge, as so many are doing lately? What if companies go bankrupt? In the end, through the Treasury, it’s once again the taxpayer who’s going to be presented with the bill. ”

from http://theautomaticearth.blogspot.com/

as for having a drink, well … 1 isn’t gonna make it. Fortunately, I have come up with an answer: a still ! I will start building stills … after all, I do live in Western NC.

@ Kevin, et al:

It isn’t as though we haven’ t known this was coming … the shakeout is not going to be orderly, imho. All I can hope for now is that it remains peaceful, as I am marooned here, now …

:(

cybele

ps: regards to The Hindenburg .

]]> By: John Doh http://cryptogon.com/?p=4095&cpage=1#comment-14080 John Doh Tue, 16 Sep 2008 11:43:42 +0000 http://cryptogon.com/?p=4095#comment-14080 Quintanus <i>Why did the Fed. apparently stop the pattern today?</i> It stopped because the traitor Hehhnry Pawlson is doing some favors for his buddies who he OWES from Gohhhldmann Sahhhcks. Selective application of his own policies to eliminate their competition. Quintanus
Why did the Fed. apparently stop the pattern today?

It stopped because the traitor Hehhnry Pawlson
is doing some favors for his buddies who he OWES
from Gohhhldmann Sahhhcks.
Selective application of his own policies to eliminate their competition.

]]> By: pookie http://cryptogon.com/?p=4095&cpage=1#comment-14079 pookie Tue, 16 Sep 2008 07:25:11 +0000 http://cryptogon.com/?p=4095#comment-14079 Mish's take on the AIG fiasco is a must-read. Jaysus gawd, I need another drink. http://globaleconomicanalysis.blogspot.com/2008/09/crime-in-buying-aig-time.html Mish’s take on the AIG fiasco is a must-read. Jaysus gawd, I need another drink.

http://globaleconomicanalysis......-time.html

]]> By: sharon http://cryptogon.com/?p=4095&cpage=1#comment-14077 sharon Tue, 16 Sep 2008 00:30:13 +0000 http://cryptogon.com/?p=4095#comment-14077 Quintanus, accepting "pocket lint" in exchange for cash means that, instead of continuing these penny-ante bailouts where finanacial institutions have to go through a bunch of stupid freakin' CHANNELS, the Fed just gave away the whole store. Now they can all just turn in their old socks and crusty underwear to the Fed, value it according to their whim (oooh, $500 billion for the old socks), and the Fed will give them cash--and bill it to the taxpayer. The pattern has not stopped; it has accelerated. Quintanus, accepting “pocket lint” in exchange for cash means that, instead of continuing these penny-ante bailouts where finanacial institutions have to go through a bunch of stupid freakin’ CHANNELS, the Fed just gave away the whole store.

Now they can all just turn in their old socks and crusty underwear to the Fed, value it according to their whim (oooh, $500 billion for the old socks), and the Fed will give them cash–and bill it to the taxpayer.

The pattern has not stopped; it has accelerated.

]]> By: quintanus http://cryptogon.com/?p=4095&cpage=1#comment-14076 quintanus Mon, 15 Sep 2008 18:15:58 +0000 http://cryptogon.com/?p=4095#comment-14076 Can any of you explain:- for months we've been watching the Fed. conduct liquidity injections, direct and indirect bailouts and loans of large financial institutions, or even Ford/GM. Even the stimulus checks were pretty expensive. All of this could be expected to cause rapid inflation, and add to our debt which can't be paid off soon. Why did the Fed. apparently stop the pattern today? Was it that Lehman was just too large, or the Reserve is critically short on money, or did Bernanke switch strategies? Can any of you explain:- for months we’ve been watching the Fed. conduct liquidity injections, direct and indirect bailouts and loans of large financial institutions, or even Ford/GM. Even the stimulus checks were pretty expensive. All of this could be expected to cause rapid inflation, and add to our debt which can’t be paid off soon. Why did the Fed. apparently stop the pattern today? Was it that Lehman was just too large, or the Reserve is critically short on money, or did Bernanke switch strategies?

]]> By: montysano http://cryptogon.com/?p=4095&cpage=1#comment-14075 montysano Mon, 15 Sep 2008 17:17:44 +0000 http://cryptogon.com/?p=4095#comment-14075 "It means that the fed will accept pocket lint as collateral for loans to these doomed corporations." Did they have another option? “It means that the fed will accept pocket lint as collateral for loans to these doomed corporations.”

Did they have another option?

]]> By: Kevin http://cryptogon.com/?p=4095&cpage=1#comment-14074 Kevin Mon, 15 Sep 2008 16:56:06 +0000 http://cryptogon.com/?p=4095#comment-14074 It means that the fed will accept pocket lint as collateral for loans to these doomed corporations. It means that the fed will accept pocket lint as collateral for loans to these doomed corporations.

]]> By: montysano http://cryptogon.com/?p=4095&cpage=1#comment-14073 montysano Mon, 15 Sep 2008 16:43:12 +0000 http://cryptogon.com/?p=4095#comment-14073 Help us who are financially challenged: what does "Fed to accept equities at discount window" mean, in plain terms? What was accepted as collateral prior to this? Is the problem that equities are constantly changing in price, and therefore unsuited as collateral? Help us who are financially challenged: what does “Fed to accept equities at discount window” mean, in plain terms? What was accepted as collateral prior to this? Is the problem that equities are constantly changing in price, and therefore unsuited as collateral?

]]> By: sharon http://cryptogon.com/?p=4095&cpage=1#comment-14072 sharon Mon, 15 Sep 2008 15:50:52 +0000 http://cryptogon.com/?p=4095#comment-14072 The real story here is: Fed to Accept Equities at Discount Window. http://www.tickerforum.org/cgi-ticker/akcs-www?post=60306 It's a long thread. This is an "Oh shit!" moment. Also here: http://www.tickerforum.org/cgi-ticker/akcs-www?forum=Ticker The real story here is: Fed to Accept Equities at Discount Window.

http://www.tickerforum.org/cgi.....post=60306

It’s a long thread. This is an “Oh shit!” moment.

Also here:

http://www.tickerforum.org/cgi.....rum=Ticker

]]> By: tochigi http://cryptogon.com/?p=4095&cpage=1#comment-14071 tochigi Mon, 15 Sep 2008 14:37:54 +0000 http://cryptogon.com/?p=4095#comment-14071 Aozora Bank. Ouch. Could be the second time for these ____ers to go go down the gurgler! (used to be called NCB, but was nationalised and reprivatised after the 1998 fiasco) Mizuho Corporate Bank. No sympathies there, either. Used to be (substantially) IBJ. Arrogant bunch of pr__ks. They're a "megabank" so won't go under. Going to be "Fujiyama Day"* on the TSE on Tuesday, looks like. (markets were closed on Monday for a holiday) *see <a href="http://en.wikipedia.org/wiki/Fujiyama_(roller_coaster)" rel="nofollow">wikipedia entry</a> Aozora Bank. Ouch. Could be the second time for these ____ers to go go down the gurgler! (used to be called NCB, but was nationalised and reprivatised after the 1998 fiasco)

Mizuho Corporate Bank. No sympathies there, either. Used to be (substantially) IBJ. Arrogant bunch of pr__ks. They’re a “megabank” so won’t go under.

Going to be “Fujiyama Day”* on the TSE on Tuesday, looks like. (markets were closed on Monday for a holiday)

*see wikipedia entry

]]> By: Loveandlight http://cryptogon.com/?p=4095&cpage=1#comment-14070 Loveandlight Mon, 15 Sep 2008 14:14:19 +0000 http://cryptogon.com/?p=4095#comment-14070 I was wondering how long the financial black magicians could keep all those buzzing chainsaws in the air. I've been asking myself that question throughout the (Northern Hemisphere) summer, and often when I did so, my subconscious mind would mentally play the song <a href="http://www.azlyrics.com/lyrics/greenday/wakemeupwhenseptemberends.html" rel="nofollow">"When September Ends"</a> by the Gen-Xer band Green Day. I was wondering how long the financial black magicians could keep all those buzzing chainsaws in the air. I’ve been asking myself that question throughout the (Northern Hemisphere) summer, and often when I did so, my subconscious mind would mentally play the song “When September Ends” by the Gen-Xer band Green Day.

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