Agreed. I am waiting for GS 176.00 USD +. And I am shorting Deutsche Bank, because Ackermann had a simple message a few days ago : Ackermann Says Bad Loans Are âNext Waveâ of Crisis Rising delinquencies among consumer and corporate borrowers are the ânext waveâ of the financial crisis and may affect banks that have avoided losses so far, said Deutsche Bank AG Chief Executive Officer Josef Ackermann. âThis crisis has consisted of a series of earthquakes, with changing epicenters,â Ackermann said late yesterday at an event in Zurich. âBad loans are the next wave. Banks that have fared relatively well so far will also be affected by this.â Isch escht cool ey....
He was also on TV last week and during an interview he implied that there would be yet another "bubble" in equities because of Helicopter Ben and Company and that the end of the world would be pushed out yet another 5 years. 1998, 2003, 2008, ??? Looks like "Mr. Gloom & Doom" is hedging himself once again... http://www.youtube.com/watch?v=DuyL8c_m7Wg
Reported that AIG Naked shorts unable to borrow stock at the stock loan departments and running for cover.
Landis, to what extend do you not subscribe to his basic view that a major systemic crisis as we have endured over the last year on a historical base does not get solved by the actions taken by governments and central banks so far but in reality the very steps they have taken will in the end fail in sustaining what is unsustainable simply because of the laws of fysics? I would like to notice Faber himself contrary to most 'doomers' did not pass out on the possibility of profiting on the chances provided by those same central banks and governments with for instance advising to buy C at 1$ a share to see it rally to 4,8$ and to find it at 3,8$ today which is a nice profit no doubt.
AIG surprisingly swung to a profit and showed less write-downs as expected. 16.5% of the FLOAT was sold short. What else is it that you need to know???
Wasn't there some positive profit news from Radian? They didn't have to pay out on some of their insurance contracts, 'cause they were deemed invalid. Isn't that what's been pushing all the insurers up and squeezing the shorts?