Now I know your a completely full of shit. Your actually claiming to be a better trader then Stevie Cohen? roflmao If you had any clue about what a HEALTHY business cycle actually looked like you would understand that recessions and greed go hand and hand. Your ideology about what Capitalism is and how it really works is so far apart ... it isn't funny. There is a famous saying I think you should heed. Be careful what you wish for because you may just get it !
Then, you'd better make out your will. And cut your food up very fine. Cohen is sleight of hand. Has been since his days at Gruntal. I was there. Know the stock loan people. Gruntal, btw, collapsed under it's own fraud. Search it. He hits these boards, as well as Loeb. Again, go to Deepcapture.com. I know he's here. I also am expecting a stuffed shark to magically appear on EBAY. You are welcome to refute anything I say; so far, you are totally void of any factual material. 25 years in the industry, you say. Tell me, are you people using the new environmental cleaning products, or are you still whiffing chlorine fumes? And is it true, Top to Bottom, Left to Right? Is that how you're trained?
Its not going to change my trading. I've been quite successful in manifesting what I've focused on. Hopefully, when enough people are clear in their mind about this practice, it will change for good. :eek:
This article has some flaws. These securities are tradable entities, not houses. Mark-to-market makes sense whether he wants to believe it or not. Furthermore, his statement on the uptick rule is just more of the same bullsh*t everyone seems to be saying nowadays just because it is convenient. Talk about a scapegoat. Let's blame the uptick rule!
See my other thread where Congress is having a go? Once you get the Queen Mary know as Congress in motion, you can't stop it. Guy high up today told me, "everybody hates Wall St. " He means DC and the population in general. Guess what that means.
We've already established deepcapture is a NUTJOB web site for extremists. Which explains your so called moral high ground nonsense. IF you want to be a socialist just move up here to Canada for a few years and see how well this system works for you.
Spin, spin, spin. Are you paid too? Who's arguing for socialism. I'm saying, you guys on the Street are stealing everybody blind. That's not Capitalism, it's extortion. You make no sense. But you never did. Deep capture is well funded, well researched, and factual. And more Street guys than you would ever believe contribute information. Where else do you get the truth. And 'extremeists'????? Extremeists??????? Look around you. It'sn not extreme? Here...........this is extreme......... http://www.nypost.com/php/pfriendly...9212008/business/almost_armageddon_130110.htm ALMOST ARMAGEDDON By MICHAEL GRAY September 21, 2008 -- The market was 500 trades away from Armageddon on Thursday, traders inside two large custodial banks tell The Post. Had the Treasury and Fed not quickly stepped into the fray that morning with a quick $105 billion injection of liquidity, the Dow could have collapsed to the 8,300-level - a 22 percent decline! - while the clang of the opening bell was still echoing around the cavernous exchange floor. According to traders, who spoke on the condition of anonymity, money market funds were inundated with $500 billion in sell orders prior to the opening. The total money-market capitalization was roughly $4 trillion that morning. The panicked selling was directly linked to the seizing up of the credit markets - including a $52 billion constriction in commercial paper - and the rumors of additional money market funds "breaking the buck," or dropping below $1 net asset value. The Fed's dramatic $105 billion liquidity injection on Thursday (pre-market) was just enough to keep key institutional accounts from following through on the sell orders and starting a stampede of cash that could have brought large tracts of the US economy to a halt. While many depositors treat money market accounts as fancy savings accounts, they are different. Banks buy a variety of short-term debt, including commercial paper, with the assets. It is an important distinction because banks use the $1.7 trillion commercial-paper market to fund their credit card operations and car finance companies use it to move autos. Without commercial paper, "factories would have to shut down, people would lose their jobs and there would be an effect on the real economy," Paul Schott Stevens, of the Investment Company Institute, told the Wall Street Journal. Cracks started to show in money market accounts late Tuesday when shares in one fund, the Reserve Primary Fund - which touted itself as super safe - fell below the golden $1 a share level. It had purchased what it thought was safe Lehman bonds, never dreaming they could default - which they did 24 hours earlier when the 158-year-old investment bank filed Chapter 11. By Wednesday, banks sensed a run on their accounts. They started stockpiling cash in anticipation of withdrawals. Banks, which usually keep an average of $2 billion in excess reserves earmarked for withdrawals, pumped that up to an astounding $90 billion by Wednesday, Lou Crandall, chief economist at Wrighton ICAP, told The Journal. And for good reason. By the close of business on Wednesday, $144.5 billion - a record - had been withdrawn. How much money was taken out of money market funds the prior week? Roughly $7.1 billion, according to AMG Data Services. By Thursday, that level, fed by the incredible volume of sell orders pouring in from institutional investors like pension funds and sovereign funds, had grown to $100 billion. It was still not enough to stem the tidal wave. The banks knew something drastic had to be done. So did Paulson. The injection of capital into the market was followed up by calls from Treasury Secretary Hank Paulson to major money market players like Bank of New York Mellon and State Street in Boston informing them that federal money was in the market and they should tell their clients the Feds would be back with a plan to stem the constriction in the credit market. Paulson knew the $105 billion injection was not a real solution. A broader, more radical answer was needed. Hours after Paulson made his round of calls to calm the industry, word leaked out that an added $1 trillion bailout of banks was being readied. Investors cheered. At about 3 p.m., news of the plans was filtering up and down Wall Street, fueling a 700-point advance in the Dow Jones industrial average through 4 p.m. Friday. By that time, Paulson had announced the plan. It included insurance on money market accounts, a move that started in quiet Thursday morning, when the former Goldman Sachs executive saved the country from a paralyzing meltdown. mgray@nypost.com
when the former Goldman Sachs executive saved the country from a paralyzing meltdown. --------------------------------------------- He shoots - he scores!! The crowd cheers. We will we will rock you We will we will rock you Buddy youâre a boy make a big noise Playinâ in the street gonna be a big man some day You got mud on yoâ face You big disgrace Kickinâ your can all over the place We will we will rock you We will we will rock you Buddy youâre a young man hard man Shoutinâ in the street gonna take on the world some day You got blood on yoâ face You big disgrace Wavinâ your banner all over the place We will we will rock you We will we will rock you