Paulson left goldman sachs but not the securities underwriting business, this offering will kill shareholders, I just cant see it not doing. you gotta to understand, he NEEDS a talking point when he is forced to testify before congress to explain what he did, that means he needs to be able to say it wasnt a complete bailout because he murdered shareholders http://www.bloomberg.com/apps/news?pid=20601087&sid=aWX8Gi89RN44&refer=home
Pimco's Holdings About 61 percent of the holdings of Gross's Pimco Total Return Fund were mortgage-backed securities as of June 30, mostly debt guaranteed by Fannie, Freddie or U.S. agency Ginnie Mae, according to data on Pimco's Web site. " I would like to hear Bill Gross provide some kind of disclosure every time he insinuates " the U.S. govt. will rescue FNM and FRE" Of course that won't happen, but it would be noble of him. For the good of the country of course. How can we just stand by and watch poor Mr. Gross and his shareholders holding the bag? what a punter
``We're talking about almost too-big-to-fail types of institutions,'' Gross said in an interview last week with Bloomberg Television. ``We're moving down from the highest quality Treasury spectrum to agency-backed mortgages as well as bank capital.'' http://www.bloomberg.com/apps/news?pid=20601087&sid=aCnmDUy32yoo&refer=home this guy gets it..... <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/GbCsCrCyR7Y&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/GbCsCrCyR7Y&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object>
<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/TeWJZiJGc2s&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/TeWJZiJGc2s&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object> another good video, fwiw
a classic in the making <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/SQhHxKz1hEQ&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/SQhHxKz1hEQ&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object>
[UPDATE 1 - Fannie Mae sells $3.5 bln 3-yr benchmark notes Wed Aug 13, 2008 11:16pm IST http://in.reuters.com/article/marketsNewsUS/idINN1342903620080813
I'm short, long puts, and reckon these both go to $0. After a painful last 2 weeks in July, these positions are now going to new lows. The fact that they went to new lows so fast after a major rally is very bearish IMO. Add in the horrendous fundamentals, political imperative to wipe out the common, and likely huge dilution, and the odds favour betting against them IMO.