More on Messes, Medicine & Enemas
From Messes, Medicine & Enemas: "Buying into the statistical mis & dis information leads to an illusory and delusional state of denial."
Today, MSN's Jon Markman is on the Mark a must read which casts a spotlight on:
Boeing, the banks, the US Treasury, the homebuilders and the impending Ethanol fuel induced water shortage. A sample:
"In the stock market, the difference between hype, self-delusion and outright lying is always paper thin.
At times like these, however, it is pretty much nonexistent, as the number of executives and government officials who have attempted to fool the public...
and shareholders to mask terrible decisions made for the most craven purposes appears to be growing faster than the national debt."
On the banks creation of the "Super Conduit": "It's pretty interesting that they're calling this new "conduit" a superfund...
considering that was the name given to the federal program used to mitigate toxic-waste dumps in the 1980s after the Love Canal debacle.
(The SuperFund) would simply be the largest special investment vehicle in the world and would likely serve no other purpose than to get bad paper out of its founders' thinning hair.
Wall Street seems to believe that if something doesn't work, then you should just do it in larger size.
The banks are teaming up for a reason much different than the one stated: to prevent the securities from being sold at a discount on the open market...
pushing down prices on other securities to which they are linked and causing significant losses throughout the food chain.
such losses would require prime brokers -- who provide funds to hedge funds -- to revalue collateral held against loans, triggering margin calls on already cash-strapped investors.
The notion that the banks, who are archrivals, will agree with each other or their European counterparts on how to realistically price the securities...
a process known as "marking to market"... is absurd on its face and countermands everything we think we know about how market participants act independently to determine values.
This serves no one but the executives who made mistakes in the first place.
Fortunately, it will never fly -- but the fact that it was even proposed goes one more step toward showing us how perniciously the system has been rigged lately."
Today, MSN's Jon Markman is on the Mark a must read which casts a spotlight on:
Boeing, the banks, the US Treasury, the homebuilders and the impending Ethanol fuel induced water shortage. A sample:
"In the stock market, the difference between hype, self-delusion and outright lying is always paper thin.
At times like these, however, it is pretty much nonexistent, as the number of executives and government officials who have attempted to fool the public...
and shareholders to mask terrible decisions made for the most craven purposes appears to be growing faster than the national debt."
On the banks creation of the "Super Conduit": "It's pretty interesting that they're calling this new "conduit" a superfund...
considering that was the name given to the federal program used to mitigate toxic-waste dumps in the 1980s after the Love Canal debacle.
(The SuperFund) would simply be the largest special investment vehicle in the world and would likely serve no other purpose than to get bad paper out of its founders' thinning hair.
Wall Street seems to believe that if something doesn't work, then you should just do it in larger size.
The banks are teaming up for a reason much different than the one stated: to prevent the securities from being sold at a discount on the open market...
pushing down prices on other securities to which they are linked and causing significant losses throughout the food chain.
such losses would require prime brokers -- who provide funds to hedge funds -- to revalue collateral held against loans, triggering margin calls on already cash-strapped investors.
The notion that the banks, who are archrivals, will agree with each other or their European counterparts on how to realistically price the securities...
a process known as "marking to market"... is absurd on its face and countermands everything we think we know about how market participants act independently to determine values.
This serves no one but the executives who made mistakes in the first place.
Fortunately, it will never fly -- but the fact that it was even proposed goes one more step toward showing us how perniciously the system has been rigged lately."
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