Requium For The American Investment Bank [Ticker]

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Genesis Posts: 130807 Incept: 2007-06-26	http://market-ticker.denninger.net/2007/.... ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2007-12-20 00:10:45 Permalink
Bozonian Posts: 19895 Incept: 2007-09-01 Saratoga Springs, New York	Whew. The hairs on the back of my neck sprouted up as I was reading this. ---------- Forget about blaming, fighting with, or crediting other people. The only real challenge in life, is with yourself. -- Me Everything I write is my opinion and not to be considered proven fact. Nothing I write should be considered financial advice. Last modified: 2007-12-20 00:51:53 by bozonian 2007-12-20 00:51:31 Permalink
Mtgspy Posts: 6202 Incept: 2007-10-27 Banned	well, GS issue isn't the swap from ABX because they are collateralized with cash. It's gonna be their earnings from stuffs they used to peddle that they can't anymore and that should be good to the road under $100 someday. ABK and MBI is absolutely toast. And by implication Citi. ---------- I'll stay away from this one, I'll instead grab my and watch the pretty fireworks. - Karl Safety is the greatest risk of all, because safety leaves no room for miracles and miracles are the only sure thing in life. - A random black supporting actor. We iz all gonna diiiiiieeeeeeee. - Raingod 2007-12-20 01:01:01 Permalink
Opusfluke Posts: 764 Incept: 2007-07-03 Berkeley, CA	Great ticker, Karl, great to have you back. ---------- The Church is near, but the way is icy. The tavern is far, but I will walk carefully. 2007-12-20 01:03:12 Permalink
Shrpblnd Posts: 1205 Incept: 2007-08-06 Los Angeles, CA	My condolances for the loss to you and your family. Welcome back. 2007-12-20 01:22:52 Permalink
Murf Posts: 4486 Incept: 2007-08-28 MurfCon Warning Level: Arrogance II	Karl, Awesome ticker. Thanks for keeping it simple. Now I understand why Leisman looked like he'd seen a ghost today when he announced the ACA downgrade. ---------- The money has already been lost. Someone has to book it. 2007-12-20 01:44:54 Permalink
Koolaid Posts: 3884 Incept: 2007-07-23 Atlanta	KD thoughts are with your family from all of us here. Great ticker tonight. I linked it at a few other forums because I think this one has a chance to be the spark that ignites the implosion-that-can't-be-stopped. If I recall correctly, ACA and BSC are kind of co-joined at the hip, and the surgery needed to separate them might be beyond the talents of even the best financial fraudsters. The news flow from the BSC camp has been so freaking bad this week that I can't believe the stock isn't in the 50s. Got puts? Yes. Still worried? A little. 2007-12-20 01:52:00 Permalink
Peace Posts: 688 Incept: 2007-07-09 San Diego	Sorry about your nephew. Welcome back. According to this post by Mish, the market was ahead of the credit ratings cartel...ACA was trading at 40 cents and was delisted from the stock exchange. S&P ratings is purposeful behind the curve. http://globaleconomicanalysis.blogspot.c.... 2007-12-20 02:11:33 Permalink
Isaac Posts: 536 Incept: 2007-07-27	Glad to see you back Karl. Your family is in our prayers. ---------- "Diversity: a Propaganda Mechanism used to discriminate against white males, flood the country with illegal aliens, and indoctrinate your child into thinking that being gay will make them a better artist" --ME! www.FightPC.net "Your Country is Dying from Political Correctness" 2007-12-20 02:41:14 Permalink
Vrb747 Posts: 1161 Incept: 2007-09-02 South Florida	My English is not very good. What does Requium mean ? Or do u mean Requiem ? as in :- Requiem Noun 1. A song or hymn of mourning composed or performed as a memorial to a dead person. 2. A musical setting for a Mass celebrating the dead. 3. A Mass celebrated for the dead. Again, I dont mean to offend anyone. ---------- Disclosure : I usually dont know WTF Im talking about 2007-12-20 02:56:48 Permalink
Adarak Posts: 5465 Incept: 2007-07-19	Vrb, yes. Same thing. 2007-12-20 03:02:25 Permalink
Vrb747 Posts: 1161 Incept: 2007-09-02 South Florida	lol, thanks Adarak, whew. ---------- Disclosure : I usually dont know WTF Im talking about 2007-12-20 03:10:10 Permalink
Asianbull Posts: 2278 Incept: 2007-09-03 Banned	KD, sorry for your loss. BTW, the credit insurers aren't the only ones who are in trouble. ANYONE, that has written a Credit Default swap is in trouble--BSC,MER,MS,C, JPM, etc. These firms effectively are credit insurers themselves. The psychology of the American consumer has changed towards the house. It is no longer an investment vechicle--it is now a depreciating asset like a car. This fundamentally alters to the demand/supply outlook--DEMAND GOING DOWN, SUPPLY GOING UP. We could potentially have 4-5 years of supply overhang out there!!! This means no one has any incentive to improve their house, which means values depreciate even faster! I.E. THE EQUITY CUSHION FOR ANYONE WHO HAS BORROWED MORE THAN 20% OF THE VALUE OF THE HOME JUST WENT UP IN FLAMES, WHICH MEANS DEFAULTS REALLY SKYROCKET, WHICH FURTHER INCREASES SUPPLY. BTW, if you are going to go bankrupt, why not just default on all of your debt--credit card, auto, student loan,etc. ---------- The root cause of all the world's problems is inflation. The only sound money in the world is commodities. 2007-12-20 05:45:59 Permalink
Jubber Posts: 14174 Incept: 2007-07-05 UK	Karl, totally agree, however I can't understand why no one sees the implications of this as usual, what do think the implications will be for metals and currencies once this move ever takes place? ---------- �The problem with socialism is that, sooner or later, you run out of other people�s money.� Thatcher 2007-12-20 06:05:17 Permalink
Etrade_refugee Posts: 5242 Incept: 2007-11-14	Karl, do you think you could examine the soundness of ETFs, especially Ultrashorts, in a future Ticker? Won't a failure to pay in the swaps hurt the ability of the ETFs to get paid? 2007-12-20 08:46:42 Permalink
Pika-steph Posts: 54735 Incept: 2007-09-11 Live Free Or Die; US Army Est. 1775	Etrade - you're scaring me. ---------- Stop the Looting; Start Prosecuting - http://www.FedUpUSA.org/ "The only regulation that really works is failure."--Rick Santelli 2007-12-20 10:35:42 Permalink
Etrade_refugee Posts: 5242 Incept: 2007-11-14	Pika - we're sitting here trying to make money off of other people's shortsightedness, and I'm just trying to keep from losing my money from my shortsightedness. I've got huge positions in SKF and SRS right now and I would hate that a) A major event occurred and the 2x inverse did not occur in the price b) A really major event occurred and there was a dislocation in the way the ETF was run. Honestly, are the folks running ProShares any dumber or smarter than the folks at Merrill or Bear S.? 2007-12-20 10:48:31 Permalink
Genesis Posts: 130807 Incept: 2007-06-26	There's a potential problem there but in theory funds are supposed to be segregated. Criminal activity always trumps reality, of course. But what other options do you have, in fact? None - so you play the cards you have. ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2007-12-20 10:51:36 Permalink
Pointpark04 Posts: 1705 Incept: 2007-09-18 Gen. Smedley Butler Banned	Karl, this was an EXCEPTIONAL ticker. I never understood the exact machinations of bond insuring and swaps. What you explained was truly eye-popping. I get exactly how Goldman Sachs has been gaming their earnings now. This is what you get when regulation of markets and those involved therein gets thrown out the window. When you let the foxes guard the henhouse, a feast will ensue. And fox will NOT be on the menu. ---------- 2007-12-20 11:13:27 Permalink
Bscbear Posts: 285 Incept: 2007-07-13 Lees Summit, MO	Excellent ticker. I have been looking for something that spelled out some of the developing problems to send to friends and family. Something that they would be able to understand. This was it. I fired it off to the people that I want to warn. Thanks !! 2007-12-20 18:32:41 Permalink
Zanni-baby Posts: 1014 Incept: 2007-11-09 the Valley	Karl, Thank you for your thoughtful insight regarding monolines. It's not easy to access this kind of info. I share in your family's loss for your Nephew. You and your loved one's are in my prayers. LOL~ ---------- Let them eat stocks! 2007-12-20 23:44:22 Permalink
Jinxx0r Posts: 4233 Incept: 2007-08-10	KD, sorry for you loss. Me and my family will keep you in our prayers. 2007-12-21 02:24:49 Permalink


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