And The Band Played On
The Nattering One muses... You really don't want to be downwind of this Stearn smelling load of Bear dung.
Lehman Brothers in an effort to not become the 2nd major Wall Street firm to fail in the last two weeks, panhandles $4 billion to stay afloat.
Questions for those investors stupid enough to step on this steamin pile....
Take a whiff... Why would you pay 7.25% creating a $290 million expense; and pay a 32% premium for stock; on money you don't need?
Nuveen can't sell its auction rate securities trapping $4.3 billion in investors money in closed end funds.
Deutsche Bank has $4 billion in write downs and UBS $19 billion while needing to panhandle another $15 billion to stay afloat.
Goldman Sachs sez Merrill Lynch and Sillybank (Citigroup) will have $14 billion in additional writedowns.
SP sez corporate bond defaults will jump 500% and leveraged loan losses will skyrocket.
The media passes the Kool Aid, investors drink, markets cheer, the end or bottom is near,
DJIA +300; gold and bonds sink while the dollar jumps, thrifts & mortgages +8.7%, diversified financials +7.0%, and consumer finance +6.7%.
We warned about this irrational surge last week, here it is. I don't believe "the bottom is in sight" or "we've weathered the storm".
How rational investors can take any of today's news or economic reports as good news is beyond comprehension.
Perhaps some have taken this opportunity to sell into "strength", because the end is nowhere in sight and the worst is yet to come.
Like we said yesterday, keep your eyes peeled to the sky, it will be a "name brand" that pancakes this dead man walkin.
Lehman Brothers in an effort to not become the 2nd major Wall Street firm to fail in the last two weeks, panhandles $4 billion to stay afloat.
Questions for those investors stupid enough to step on this steamin pile....
Take a whiff... Why would you pay 7.25% creating a $290 million expense; and pay a 32% premium for stock; on money you don't need?
Nuveen can't sell its auction rate securities trapping $4.3 billion in investors money in closed end funds.
Deutsche Bank has $4 billion in write downs and UBS $19 billion while needing to panhandle another $15 billion to stay afloat.
Goldman Sachs sez Merrill Lynch and Sillybank (Citigroup) will have $14 billion in additional writedowns.
SP sez corporate bond defaults will jump 500% and leveraged loan losses will skyrocket.
The media passes the Kool Aid, investors drink, markets cheer, the end or bottom is near,
DJIA +300; gold and bonds sink while the dollar jumps, thrifts & mortgages +8.7%, diversified financials +7.0%, and consumer finance +6.7%.
We warned about this irrational surge last week, here it is. I don't believe "the bottom is in sight" or "we've weathered the storm".
How rational investors can take any of today's news or economic reports as good news is beyond comprehension.
Perhaps some have taken this opportunity to sell into "strength", because the end is nowhere in sight and the worst is yet to come.
Like we said yesterday, keep your eyes peeled to the sky, it will be a "name brand" that pancakes this dead man walkin.
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