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  • #157,721
  • Nov 2, 2009 12:03am Nov 2, 2009 12:03am
Quoting toshi
Carl Icahn lent them $1 bln on Friday (line of credit actually) knowing full well that
this news would hit on Monday. The Bond holders will receive about 70 cents on the dollar.
The common and preferred shares, along with the US Treasury's $2.3 billion
investment of Tarp funds will likely be wiped out. Goldman has arranged a deal
to protect a big chunk of the debt they hold on CIT, as well.

Overall, it likely wont be a cause for celebration on FTSE or NYSE come Monday morning.
Should atleast put some kind of damper on the festivities.
sounds fishy..
those who can, do. those who cant, talk about those who can
  • #157,722
  • Nov 2, 2009 12:09am Nov 2, 2009 12:09am
Quoting gatorinla
yes gove wasnt bailing them out.. this will hurt small business.. and we still got all the balloons on small business..for the next 0/10years.. commercial realestate will be in bad shape. credit will tighten further on small business. small busines are the engine that does most of the employment. small business with cit lines of credit are now dried up.. round 2 is still coming..
yep could bring market down toshi
those who can, do. those who cant, talk about those who can
  • #157,723
  • Nov 2, 2009 12:10am Nov 2, 2009 12:10am
What will happen to the E/U when RBA raises rate tomorrow? (Or ...surprisesurprise...if they don't raise)....?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #157,724
  • Nov 2, 2009 12:10am Nov 2, 2009 12:10am
Now, can't deny that this has the appearance of a decent-sized double bottom.
Breaking last Thursday/Friday's High at 14859 could add some credibility to the pattern.
Since it measures about 180 pips tall, a projection north would re-test the october highs.

Of course, a break of 14680 area would land that theory in the trash post-haste.
The break below would likely land us back at 145 (around the October NFP reaction lows)

I'd like to see it fall, because, as you know, the glass is still just a little bit empty.....
(eternal pesimist)

But the market wrote me a little note the other day.
It said, " I don't give a shit what you'd like to see... I'll do what I damn well please...
Thank you. Sincerely , The Market..."
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  • #157,725
  • Nov 2, 2009 12:11am Nov 2, 2009 12:11am
Then the 'loan was secured by something he really wanted, at a fantastic discount price.. And the end result will be that the bond holders will loose even more than they expected???

Philantropy is strictly for window dressing with these guys. If they give money to failing opperations, it is only to secure the managment's Golden Parachutes. And trust me on this; the money has more stings on it than even those parachutes. It will come back to where it came from with obscene interest. There may be a delay in the reaction, till people figure out what assets were "sold" at 10 cents on the dollar??? JMO
Ah Luv the smell of a good prediction in the mornin!
  • #157,726
  • Nov 2, 2009 12:12am Nov 2, 2009 12:12am
Quoting Fly2
Anyone here ever used Currensee.com?and what do you think about it
I thought it was cool until they asked me for my account numbers and account passwords.....
  • #157,727
  • Nov 2, 2009 12:16am Nov 2, 2009 12:16am
might get 84...
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those who can, do. those who cant, talk about those who can
  • #157,728
  • Nov 2, 2009 12:17am Nov 2, 2009 12:17am
Aw hell, I dunno....just pick one already.
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  • #157,729
  • Nov 2, 2009 12:20am Nov 2, 2009 12:20am
Quoting toshi
Aw hell, I dunno....just pick one already.
stop at 84 and i got an idea..4854 still helps idea.. but 4784 is better
those who can, do. those who cant, talk about those who can
  • #157,730
  • Nov 2, 2009 12:25am Nov 2, 2009 12:25am
Quoting mfoste1
I thought it was cool until they asked me for my account numbers and account passwords.....
y makes you wonder
  • #157,731
  • Nov 2, 2009 12:25am Nov 2, 2009 12:25am
Quoting Artcritique
Then the 'loan was secured by something he really wanted, at a fantastic discount price..
And the end result will be that the bond holders will loose even more than they expected???

Philantropy is strictly for window dressing with these guys. If they give money to failing opperations,
it is only to secure the managment's Golden Parachutes. And trust me on this; the money has
more stings on it than even those parachutes. It will come back to where it came from with obscene interest.
There may be a delay in the reaction, till people figure out...
What's really weird is that as early as Wednesday (28th), CIT told Icahn to go kiss a fat lady's ass.

But here's the link to atleast one source about the "deal" - more like an investor fleecing:
http://money.cnn.com/2009/11/01/news...ion=2009110118


The relevant part re: Carl Icahn went something like this here:

On Friday, it (CIT) reached an agreement under which Carl Icahn, a prominent investor
who had opposed the company's efforts to reorganize will now support the firm's restructuring.
Icahn's hedge fund firm, Icahn Capital LP, will provide CIT with a $1 billion credit line.
The credit line can be used as debtor-in-possession financing as part of the bankruptcy procedure.
  • #157,732
  • Nov 2, 2009 12:35am Nov 2, 2009 12:35am
Ok, anybody else got an idea that we have something like this going on tonite ?

This is all Asia was able to accomplish for all their well-meaning (?) intentions...
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  • #157,733
  • Nov 2, 2009 12:37am Nov 2, 2009 12:37am
Quoting toshi
Ok, anybody else got an idea that we have something like this going on tonite ?

This is all Asia was able to accomplish for all their well-meaning (?) intentions...
well the trend is up and it did hit long time support... but............
those who can, do. those who cant, talk about those who can
  • #157,734
  • Nov 2, 2009 12:48am Nov 2, 2009 12:48am
Quoting toshi
Ok, anybody else got an idea that we have something like this going on tonite ?

This is all Asia was able to accomplish for all their well-meaning (?) intentions...
where are you getting your bottom trendlines?or is that just a guess?
  • #157,735
  • Nov 2, 2009 12:53am Nov 2, 2009 12:53am
Quoting gatorinla
well the trend is up and it did hit long time support... but............
yea, but when euro say me luv long-time support, me say 148 too beaucoup.


(Aye numbah one fucky)
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  • #157,736
  • Nov 2, 2009 12:55am Nov 2, 2009 12:55am
Quoting Fly2
where are you getting your bottom trendlines?or is that just a guess?

projections off the tops, parallel channels. I'm too dumb to guess......

If they're correct, should see some type of pause at 14740~42
  • #157,737
  • Nov 2, 2009 12:56am Nov 2, 2009 12:56am
nap time.. may get 4784 in 8 hours... 4777 was a bearish level on a smaller tf..
those who can, do. those who cant, talk about those who can
  • #157,738
  • Nov 2, 2009 12:58am Nov 2, 2009 12:58am
Quoting toshi
yea, but when euro say me luv long-time support, me say 148 too beaucoup.


(Aye numbah one fucky)
you give me a top at 4784 exactly and pack your bermudas.... bbl
those who can, do. those who cant, talk about those who can
  • #157,739
  • Nov 2, 2009 12:59am Nov 2, 2009 12:59am
my area again gave pips
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  • #157,740
  • Nov 2, 2009 12:59am Nov 2, 2009 12:59am
Quoting toshi
projections off the tops. I'm too dumb to guess......

If they're correct, should see some type of pause at 14740~42
4743 is a green on my chart..
those who can, do. those who cant, talk about those who can
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