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Cesarnc's market talk, gossips, rumours & fun

  • #11,581
  • Sep 14, 2008 10:52pm Sep 14, 2008 10:52pm
Ok.. so we got Lehman going to filing for bankcruptcy. Merrill going for acquisition by BofA. Financial credit is NOT over yet.

SHORT DOLLAR SHORT!!!! .
  • #11,582
  • Sep 15, 2008 2:38am Sep 15, 2008 2:38am
CRASH MF'er CRASH
Just Trade It
  • #11,583
  • Sep 15, 2008 2:42am Sep 15, 2008 2:42am
Quoting Plutonite
http://news.bbc.co.uk/2/hi/business/7615931.stm

Lehman goes bust. Officially. Let's see how the fed handles this one (i.e let's see what is going to happen to our tax dollars, those of you who live here).

EDIT: I thought I'd mention I also have a friend who just graduated last semester and is working for lehman's forex forwards and swaps.
Founded in 1850, witnessed the rise of the modern world, survived all the crap of the 1900s, 2 world wars, cold war, 70s oil crisis, recessions... Dies of subprime screwup.

I wonder what would the Lehman Brothers be saying about this.
  • #11,584
  • Sep 15, 2008 2:47am Sep 15, 2008 2:47am
Good thing about currencies is that a "crash" can mean anything for any currency. 2 years ago I wouldve thought a day like this would have me selling all the dollars I have. Not today. Pure price action, baby, and it's dollar-positive (except against the yen). Check your charts folks. I'm glad I stayed up last night.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #11,585
  • Sep 15, 2008 2:47am Sep 15, 2008 2:47am
Okay.. that's new:

Banks are going to bail out the US

The banks are Bank of America, Barclays, Citibank, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, Merrill Lynch, Morgan Stanley, and UBS. These banks have said they are committed to fund $7 billion each for a $70 billion collateralized borrowing facility.

The banks add that they are working together to assist in maximizing market liquidity through ongoing trading relationships, dealer credit terms and capital committed to markets. This will also facilitate the orderly resolution of OTC derivatives exposures between Lehman and its counterparties.
  • #11,586
  • Sep 15, 2008 2:50am Sep 15, 2008 2:50am
Quoting cesarnc

I wonder what would the Lehman Brothers be saying about this.

They'd be shorting it saying

CRASH MF'er CRASH
Just Trade It
  • #11,587
  • Sep 15, 2008 2:54am Sep 15, 2008 2:54am
Merrill Lynch, 94 years old and also based in New York, agreed to sell itself to Bank of America Corp. for $50 billion in an emergency deal hashed out yesterday.

Really, it was THIS CLOSE of having Chapter 11 called twice. Monday was downgraded to Category 4
  • #11,588
  • Sep 15, 2008 2:55am Sep 15, 2008 2:55am
Quoting cesarnc
Okay.. that's new:

Banks are going to bail out the US

The banks are Bank of America, Barclays, Citibank, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, Merrill Lynch, Morgan Stanley, and UBS. These banks have said they are committed to fund $7 billion each for a $70 billion collateralized borrowing facility.

The banks add that they are working together to assist in maximizing market liquidity through ongoing trading relationships, dealer credit terms and capital committed to markets. This will also facilitate the orderly resolution of OTC derivatives exposures between Lehman and its counterparties.

Thats like one skid row wino saying to another wino "you should stop living on the streets and stop drinking, I'm going to help you out, now give me the rest of your bottle"
Just Trade It
  • #11,589
  • Sep 15, 2008 2:56am Sep 15, 2008 2:56am
Quoting cesarnc
Okay.. that's new:

Banks are going to bail out the US

The banks are Bank of America, Barclays, Citibank, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, Merrill Lynch, Morgan Stanley, and UBS. These banks have said they are committed to fund $7 billion each for a $70 billion collateralized borrowing facility.
Yep, was about to post that too. Amazing really, it's like the cosa nostra days except now it's corporations not the mafia. What a day.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #11,590
  • Sep 15, 2008 2:58am Sep 15, 2008 2:58am
The face behind the mess:

http://www.bloomberg.com/apps/data?p...d=i1mUOf1jNvws

Lehman's CEO Richard Fuld, a.k.a. Dick Fuld - (what a surprise)
  • #11,591
  • Sep 15, 2008 3:10am Sep 15, 2008 3:10am
Quoting cesarnc
The face behind the mess:

http://www.bloomberg.com/apps/data?p...d=i1mUOf1jNvws

Lehman's CEO Richard Fuld, a.k.a. Dick Fuld - (what a surprise)
Dick
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  • #11,592
  • Sep 15, 2008 3:12am Sep 15, 2008 3:12am
Bloomberg columnists calling for a bottom. As they do every week.
Just Trade It
  • #11,593
  • Sep 15, 2008 3:14am Sep 15, 2008 3:14am
These are the guys making a fortune in Wall Street:

http://i2.photobucket.com/albums/y28/cesarnc/2guys.jpg

"Hey Joe, rush to Lehman Brothers on the way back. There's a sign there they asked to bring down, too."

  • #11,594
  • Sep 15, 2008 3:16am Sep 15, 2008 3:16am
Quoting Big Wave Rider
Bloomberg columnists calling for a bottom. As they do every week.
I posted a while ago (can't find the post) about a commentary that there wouldn't be a market correction without big bank(s) going down.

They talked like they already knew which bank they were talking about. And they surely did.
  • #11,595
  • Sep 15, 2008 3:18am Sep 15, 2008 3:18am
Quoting cesarnc
These are the guys making a fortune in Wall Street:

http://i2.photobucket.com/albums/y28/cesarnc/2guys.jpg

"Hey Joe, rush to Lehman Brothers on the way back. There's a sign there they asked to bring down, too."





Now why didn't I thing of that. Office cleaners, there we go.
Just Trade It
  • #11,596
  • Sep 15, 2008 3:28am Sep 15, 2008 3:28am
GJ's next target 150?!?!
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  • #11,597
  • Sep 15, 2008 3:28am Sep 15, 2008 3:28am
Lets see..
No. 5 = Collapse.
No. 4 = Collapse.
No. 3 = Sell itself like a hoe to sugardaddy.

Is it over? Or are we gonna see No.2 and No.1 in the same shoes?
a. No.2 and No.1 survive.
b. No.2 collapse, No. 1 survive.
c. No. 2 and No.1 collapse.

Im going for c.
  • #11,598
  • Sep 15, 2008 3:45am Sep 15, 2008 3:45am
It's the end of the world as we know it, and I feel fine
Just Trade It
  • #11,599
  • Sep 15, 2008 4:02am Sep 15, 2008 4:02am
Quoting Big Wave Rider
It's the end of the world as we know it, and I feel fine
New York hasn't even started and I'm thinking of calling it a week and grabbing some serious popcorn for the show. Seriously, I'm closing out all but one trade before new york today. Category 5 stuff.. you gotta hit the basement and lock your doors. Hot dang! I hope everyone has their helmet on.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #11,600
  • Sep 15, 2008 4:04am Sep 15, 2008 4:04am
Quoting Big Wave Rider
It's the end of the world as we know it, and I feel fine
And for some reason, Dow is only 20% off high. It's reacting furiously up and down by last-minute news, but overall, it's not as low as expected?

There is something smelling bad here...
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