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Alt 30.07.2008, 13:37   #451
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Moody's Profit Falls 48% as Asset-Backed Rating Demand Dries Up
By Mark Pittman

July 30 (Bloomberg) -- Moody's Corp., the world's second- largest credit-rating company, said second-quarter profit fell 48 percent as demand slumped for ratings (...ist ja kaum zu glauben - und die kleinen Gefälligkeisgelder "slumpen" wohl auch :o) on mortgage bonds and collateralized debt obligations.......

.....Moody's and larger rival Standard & Poor's are suffering from a plunge in bond sales that stifled demand for credit ratings. S&P parent McGraw-Hill Cos. yesterday reported a 44 percent slump in new bond sales in the quarter, driven by a 95 percent decline in mortgage-backed securities and an 88 percent slide in CDOs.

``This will be the worst quarter in the cycle in terms of earnings performances,'' Peter Appert, an analyst at Goldman Sachs (...na dann kann man ja annehmen, dass GS schon mal vorsorglich geshortet hat die kann man ja ) Group Inc. in San Francisco, said before the report. Appert, who rates Moody's ``neutral,'' had predicted revenue would decline by 25 percent....

full story: http://www.bloomberg.com/apps/news?...y36M&refer=news
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Alt 30.07.2008, 16:04   #452
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Zitat:
Zitat von schloss

Warum ist naked shortselling überhaupt erlaubt? Das widerspricht doch dem einfachsten Marktprinzip... Durch naked shortselling entstehen quasi Aktien aus dem Nichts. Und die werden dann verkauft - ist doch klar, dass solche aus dem Nichts geschaffenen Aktien dann auch zu dem Wert streben, den sie darstellen - NICHTS.

Zitat:
Zitat von Vetinari

genau - es ist nicht erlaubt

und konnten wir das machen ? ... naturlich nicht

aber die Boese Banken und Hedgies kann ... ein art selbstshutz fuer die banken in moment

es ist sehr schwer zu uberprufen wer hat welche shorts in markt

und im August konnen Goldie und JPM wieder alles runter prugeln - illegal ... fair markets






Zitat:
Zitat von Vetinari

Bush signs housing bill to provide mortgage relief
Wednesday July 30, 7:43 am ET

WASHINGTON (AP) -- President Bush on Wednesday signed a massive housing bill intended to provide mortgage relief for 400,000 struggling homeowners and stabilize financial markets.

Bush signed the bill without any fanfare or signing ceremony, affixing his signature to the measure he once threatened to veto, in the Oval Office in the early morning hours. He was surrounded by top administration officials, including Treasury Secretary Henry Paulson and Housing Secretary Steve Preston.


vollig nutzlos ... aber sie spielen politik



Gesetz ...mal so - mal so :o aber eher so
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Alt 30.07.2008, 16:34   #453
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TODD HARRISON
Hanky panky

Commentary: Are we trading against Hank Paulson?

By Todd Harrison
Last update: 12:01 a.m. EDT July 30, 2008
Comments: 92


NEW YORK (MarketWatch) -- They say the friction between opinions is where true education lies. If that's true, we've officially entered the realm of higher learning.





As both sides of the societal chasm haggle over how the market -- and, by extension, the economy -- is being handled, Treasury Secretary Hank Paulson has found himself in the center of the storm.
Perhaps that's a fitting role for the former chairman of Goldman Sachs (GS:Goldman Sachs Group, Inc
News, chart, profile, more
Last: 183.50+1.87+1.03%
10:15am 07/30/2008
, a man who deftly sold his equity holdings tax-free when he took the position in 2006. If anyone knows how the game is played, it's Hammering Hank. When pressed on policy, he recently responded, "I'm playing the hand I've been dealt."
Fair enough and truth be told, there isn't a realistic solution other than the elixir of time and price. It just so happens that we've all got chips on this particular table as he draws his next card.
Sucker's bet
We can wag our finger that the writing was on the wall since the subprime simmer of last summer. See MarketWatch column.
We can point to Alan Greenspan, who sowed the seeds of cumulative imbalances during the Asian contagion and tilled them anew after the technology bubble burst. See MarketWatch column.
Wall Street, repackaging risk and masking the disease with years of financial engineering, deserves a dishonorable mention as we dissect the discussion. See MarketWatch column.
And we, the people, must shoulder some of the blame. Questions were rarely asked as we collectively consumed beyond our means and pushed our obligations into the future. The bar tab has been building for quite some time and now that it's due, our pockets are empty. See Minyanville column.
To appreciate where we are we must first understand how we got here. Once we have -- and not many people do -- we're left with the naked truth that few, if any, viable alternatives exist.
Government officials must choose the lesser of two evils: massive intervention that will burden future generations or chaotic unwinding of risk that will bury our current one.....

.....
Sir Isaac Newton wrote of three physical laws that provide relationships between the forces acting on a body and the motion of the body.

The first law is that a particle will stay at rest or continue at a constant velocity unless acted upon by an external, unbalanced force.


The second law is that the net force on an object is equal to the mass of the object multiplied by its acceleration.


The third law is that every action has an equal and opposite reaction.


Hank Paulson and the boys on the Beltway are powerful forces indeed.
But unless they want to rewrite the basic covenants by which our universe is based, they would be wise to let markets do what free markets do.
The sooner we're allowed to go through it, the quicker we'll all get through it
full story: http://www.marketwatch.com/news/sto...dist=TNMostRead

*****************************************

Comments: 92

Realgara 3 hours ago
+19 Votes (20 Up / 1 Dn) |





Sent

Well done Todd, a fantastic article and I hope he reads it and takes note and acts on it.

Paulson was allowed tax free gains, he is fine, no bother. What about all the people who were/are about to be cheated.. US tax payers... to underwrite and pay for the blank cheque he has written for the bale outs?

He is meddling in the market and as an outsider looking in at the US see that it is no longer a free market but interfered with by government. He is pushing share prices up so the companies that made horrendous mistakes and made huge losses can get more money? That is NOT good, that is daylight robbery and he is condoning and the world is looking in at him doing it.
He is artificially pushing the market up.
He maintains strong dollar policy and I have seen people on financial TV laughing at his statement on Strong Dollar. What a joke. The US have someone spouting rubbish when all the world can see the dollar has fallen off a cliff.
Why because the US is becoming a joke thanks to people like him openly telling obvious lies.

I would not invest a penny of my money in the US, it is not safe there.

**************************************

ands8oo 1 hour ago +13 Votes (13 Up / 0 Dn)





Sent

The entire U.S. financial system is a complete joke right now - and for TH to be brining this article up now is like pointing out the out of control freight train thats already at the bottom of the hill heading straight for a little town called "Middle Class America" - why wasn't this published six months ago?

Well Todd - I do commend you for at least bringing it up before things are completely unrecognizable... But let me let you in on a little secret - there is no way Paulson can let the market "sort itself out" without bringing the entire world financial system (and U.S. dollar) to its knees.

Right this very moment, banks are borrowing money from the federal reserve, buying back their own stock to create short-term "sucker rallies" and then trading the stuff (once it falls in value) into the Federal Reserve for more to do it all over again!! WHAT IS THAT!!?? Then, (just as Merrill has been doing) they sell GUARANTEED EQUITY let me spell that out G-U-A-R-A-N-T-E-E-D equity to Singapore's Sovereign wealth fund to give the illusion that the issue is OVERSUBSCRIBED!!!!???! - ARE YOU KIDDING ME?!? AND WE BELIEVE IT ALL!? So - then when the stock tanks, more money is borrowed by the bank trading in its poopy worthless stock as collateral to the fed to get more money to buy up the remaining stuff on the market and PAY OFF the Singapore Sovereign Wealth Fund? What an unbelievable scam. This is nothing more than the financial raping of America... and for what? The model is failed. Failed miserably.

Unfortunately, all the socialism you hear about and the lies and the manipulation and the deceit and the corruption are no longer the talk of the conspiracy theorists - we are watching it happen before our very eyes, and the funny part about it all is that Americans as a whole could really care less.

Goodbye middle class - there will be a stratified society when all this is finished and Uncle Sam's out of control choo choo rolls into town at 200mph loaded with dynamite and a lit fuse - those left will be the ones that made money off the privatized profits and those that lost their middle class status and way of life by paying for the socialized losses.

This isn't the America you grew up reading about in history books... Thank you Henry Paulson, Thank you Allen Greenspan, Thank you Ben Bernanke, and a big big thank you George W. Bush.

Where did all the true conservative, free-market republicans disappear too???

Why have we become the very thing we've always rallied against - a socialist state?

I'm writing in Ron Paul on my ballot - and if he doesn't win I'm leaving the country with any valuables I can smuggle out.

Very Sincerely,
An American Patriot

******************************

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Alt 30.07.2008, 16:44   #454
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Alt 30.07.2008, 16:55   #455
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Zitat:
Zitat von Silverbay

commentary:


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......und wen/wem willst Du melden Herrn Paulson am besten
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Alt 30.07.2008, 17:22   #456
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UpInArms (1000+ posts) Wed Jul-30-08 10:21 AM
Response to Original message 70. (intervention) CHRONOLOGY-Fed actions to boost liquidity http://www.reuters.com/article/bondsNews/idUSN304331662...

Following are previous extraordinary steps the Fed has taken since August, when the credit crisis erupted:

July 13: The Fed authorizes government-sponsored entities Fannie Mae and Freddie Mac to borrow from its discount window as necessary for emergency funding. Any lending would be collateralized by U.S. government and agency securities. The Fed also agrees to take on a consultative role in setting capital requirements and financial safety and soundness standards for the two companies.

May 13: The Fed writes to Congress seeking immediate authority to pay interest on reserves held by banks at the Fed. The central bank says this move will contribute to the efficiency of the financial system.

April 9: The Fed says it is considering a plan in which the Treasury Department would borrow in excess of its requirements and deposit the surplus at the Fed. The central bank is also considering whether to issue debt under the Fed's name and seek authority to immediately pay interest on commercial bank reserves.

March 24: Fed details its role in amended JPMorgan Chase & Co's planned purchase of ailing investment bank Bear Stearns Cos. It says it will assume control of a portfolio of Bear Stearns assets valued at $30 billion, pledged as security. Any profit from the assets will accrue to the Fed, while JPMorgan will bear the first $1 billion of any losses. The Fed will finance the remaining $29 billion on a non-recourse basis to JPMorgan.

March 16: The Fed in a surprise move cuts the discount rate it charges on direct loans to banks and announces new lending program to provide credit to other big Wall Street firms. In addition, it increases the maximum maturity of discount rate loans to 90 days from 30 days. The actions are taken in concert with a decision to approve special financing to facilitate the purchase of Bear Stearns by JPMorgan Chase.

March 14: The Fed says it authorized JPMorgan Chase to borrow at the discount window on behalf of Bear Stearns, an emergency move last used in the Great Depression.

March 11: The Fed says it will accept a broader range of collateral, including home mortgages, in a new securities lending program. It says it would lend up to $200 billion to primary dealers, secured for 28 days, and accept federal agency home mortgage-backed securities and highly rated private mortgage-backed securities as collateral.

The action was coordinated with steps by the Bank of Canada, Bank of England, European Central Bank and Swiss National Bank. The Fed also says it increased existing currency swap lines with the ECB and SNB to up to $30 billion and $6 billion, respectively, and extended the term of those lines through September to help those central banks provide dollar liquidity in their markets.

March 7: The Fed says it will inject $100 billion into the banking system by increasing the size of its two term auctions of short-term funding and start a series of term repurchase transactions with primary dealers expected to be worth another $100 billion.

February 29: Fed announces two TAF auctions of $30 billion each in March. It says it intends to conduct auctions for as long as necessary to ease pressures in short-term funding markets.

February 1: Fed announces it will continue biweekly TAF auctions in February, holding the amount in each auction steady at $30 billion.

January 3: The Fed raises TAF auction amounts to $30 billion from $20 billion for each of the two auctions in January. The European Central Bank and the Swiss National Bank also offer dollar funds in conjunction with the Fed auctions.

December 12: As part of a global coordinated central bank effort, the Fed establishes the TAF to provide funds over a longer period to a wider range of banks to meet temporary shortages of funds. It also establishes foreign exchange swap lines with the ECB and SNB. The arrangements will provide up to $20 billion for the ECB and $4 billion for the SNB.

November 26: The Fed promises more than the usual year-end liquidity and says it will lift limits on how much can be lent to any one bank.

August 17: The Fed cuts the discount rate by a half percentage point and says it will act as needed to offset adverse effects on the economy arising from disruptions in financial markets.


there's more at the link

*************************************

...freie Marktwirtschaft
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Alt 30.07.2008, 17:35   #457
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Pfeil ... freie Marktwirtschaft



In einigen Jahren wird sich das ganze als ein
einzigartiges Lügengeflecht historisieren und
unwiderruflich für die Guillotine sprechen ...

Kopflos zeigt man sich schon zum heutigen
Zeitpunkt ...

With best regards to the district of Columbia
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Alt 30.07.2008, 17:38   #458
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www.chicagotribune.com/business/yourmoney/chi-tue-gail-jul29,0,5885930.column

chicagotribune.com

Even the pros may be stuffing the mattresses

Gail MarksJarvis

July 29, 2008

If you saw dark clouds drifting from St. Charles last week, they were probably coming from the dreary mood at the CFA Institute's annual investment seminar for professional investment managers.

Every year, the respected chartered financial analyst investment education group brings money managers from around the world together in the Chicago area and exposes them to provocative thinkers on investment strategy and market conditions. And with most of the world's stock markets down 20 percent or more from their highs, economies slowing throughout the world, and a credit crisis toying with the flow of money, this year's speakers were gloomy.

"I am officially scared," GMO investment manager Jeremy Grantham told professionals from as far away as Abu Dhabi and Malaysia. "In 2000, we had a technology bubble. But this is massive, a massive credit crisis and a bubble in global housing, global equity and global land."

Grantham is sometimes referred to as a "perma-bear" because he's a stickler about avoiding overpriced stocks.
Two years ago, he warned his audience that U.S. stocks were too expensive, even after recovering most of the ground lost from the 49 percent drop to correct the bubble in technology stock prices in 2000. But back then, Grantham was cautious; not fearful. While he was avoiding U.S. stocks, he thought fast-growing emerging markets still held promise.

Now, after a tremendous surge of investor money into Asia, Latin America, Africa and the Middle East, he is concerned about the prices of those stocks, as the world works its way through what he called the "first truly global bubble."

In the last few weeks, economies throughout the world have slowed sharply, and Grantham said corporate profit margins must decline as the trend continues. But he does not think investors have adjusted their expectations.

For investors expecting 7 percent annual returns in the U.S. stock market, Grantham said the price-earnings ratio would either have to go to 35, or "profit margins would have to go off the chart." The price of Standard & Poor's 500 stocks is currently about 22 times earnings.

When asked by a money manager what he would buy now, Grantham said, "long mattresses"—jesting about the stereotypical nervous behavior of hoarding cash. He seriously suggested: "Put money into something incredibly safe, like a high-quality hedge fund."

Grantham said rather than buying stocks for the long run now, he would only "short" them, or bet that they will decline in price. He sees "nothing interesting in quality corporate bonds," and he has been shorting oil. "Commodities had a good run, but that's over," he said.

Although downtrodden mortgage-related bonds might be a good deal now because some are selling for 59 cents on the dollar, he said he wonders if the price will seem compelling if home prices fall another 20 percent or 25 percent.

He confessed to the group that "I bought my first gold last week, and I hate gold. It doesn't pay a dividend. I would only do it if I was desperate."

Grantham said part of his angst comes from a lack of leadership. He criticized U.S. Treasury Secretary Henry Paulson for failing to force banks to raise capital when it was warranted two years ago. And he added: "Just imagine, we have chosen to borrow money from China so we can buy oil from the Middle East and use it to pollute the planet."

Marc Faber of Marc Faber Ltd. blamed former Federal Reserve Chairman Alan Greenspan for failing to acknowledge the Fed's role in repeatedly inflating dangerous bubbles.

By keeping interest rates low, "the Fed has created a bubble in everything—stocks in emerging market, real estate everywhere in the world, commodities, art," he said. "The only asset class that is down is the U.S. dollar."

Generally, when bubbles burst, the asset prices stay down for lengthy periods. Grantham isn't expecting the stock market to hit its low until 2010.

Farouki Majeed, the senior investment officer for asset allocation and risk management for the giant California Public Employees' Retirement System, noted that with the tech bubble bursting in 2000 and the current bear market, investors in stocks have seen virtually no return for the last 10 years. That's unusual, but typical of "boom and bust" cycles, he said.

Calpers reduced its exposure to stocks from 60 percent of the pension fund to just 54 percent this year.

Faber said, "It is quite likely that the current synchronized global economic boom and the universal, all-encompassing asset bubble will lead to a colossal bust." And with commodity prices so inflated, he expects an "increase in international tensions" over resources.

gmarksjarvis@tribune.com
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Alt 30.07.2008, 18:05   #459
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RICK SANTELLI
CNBC On-Air Editor

....die Ausnahme bei den CNBClern
er meinte vorhin - alle diese provisorischen Massnahmen von Paulson & Co. und vieles davon wird noch auf "nach November" geschoben "....all these people are not at the helmet any more after election and that's why it's the question of the day."
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Alt 30.07.2008, 18:08   #460
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Who Gives a Shit?

Bush to the Democrats..."Let's see you create some domestic bills with THIS on your shoulders!" At this point its pretty clear that he's just trying to fuck things up as much as possible for President Obama
It's not THEIR fault and never is, it's the economy, stupie!
The next president will inherit a record budget deficit of $482 billion, according to a new Bush administration estimate. A Bush administration official said the deficit was being driven to an all-time high by the sagging economy and the stimulus payments being made to 130 million households in an effort to keep the country from falling into a deep recession. A $482 billion deficit approaching billion would easily surpass the record deficit of $413 billion set in 2004.
Land mines....... The vicious cycle. Republicunts ruin the economy by looting the treasury, Democrats have to raise taxes to fix it. Republicunts blame Democrats for raising taxes to win election, then ruin economy once they take office, Democrats have to raise taxes to fix it... lather, rinse, repeat. Clinton left with $128 billion surplus... Chimpenfurerher Von Stupie has posted a deficit in EACH of his 7 years as Appointed-by-the-Supreme-Court Decider.
Now, Obama takes over as Captain right after the ship has been torpedoed twice.

As George Carlin once said: "You don't take a shit, you leave a shit." Or a big ole stinky can of worms.



wie kann man nur die nächste Präsidentschaft anstreben
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Alt 30.07.2008, 18:35   #461
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Illegal Short Sellers May Face RICO Indictments

by: R.J. Chopin posted on: July 29, 2008



RICO, Racketeering Influenced Corruption Organizations Act, the law Rudy Guiliani used to bring down Michael Milken, and other Wall Street crooks, could be revisited in the SEC's struggle to clean up Wall Street's growing threat to the financial markets.

The SEC's crackdown against illegal naked short selling and rumor-mongering resulted in more than 50 hedge funds being slapped with subpoenas last week, according to the Wall Street Journal. Conspiracy theorist and CEO of Overstock.com (OSTK), Patrick Byrne, has embarked on a crusade to expose the nefarious hedge funds that practice illegal short selling. Byrne's web site, Deep Capture.com, has compiled a plethora of facts documenting, names, dates, times and videos of the players and their schemes.

Mark Mitchell, of DeepCapture.com, believes there exist a "hedge fund-orchestrated campaign to cover-up the crime of naked short selling." Depending on how deep the SEC probes (eben - depending ) and what insidious facts they discover, we could see hedge fund managers, traders, and other employees facing scandalous, unprecedented charges under the infamous racketeering law, RICO. There is growing pressure for whistle-blowers to sound off or risk becoming the next scapegoat.

Clusterstock.com, reported, "the SEC is demanding both trading records and email correspondences" from subpoenaed firms. The inclusion of cell phone and text messaging records will undoubtedly be scrutinized. Concurrently, the NYSE Regulation Inc. is also investigating how some of its largest firms comply with false and misleading rumors that could undermine a stock's price. This is going to intensify.

Motley Fool, published an article on March 24, 2008, titled "The Naked Truth on Illegal Shorting," in which 100% of a company's shares were purchased by one individual, and were not available for shorting. Nevertheless, 60 million phantom shares were traded, according to owner. Subsequently, he filed a SEC 13-D compliant form.

Dick Fuld, CEO of Lehman Brothers (LEH), told market regulators that he has information that short-selling hedge funds colluded to bring down Bear Sterns (BSC). If Fulds's "information" is of evidentiary value, these hedge fund managers, and their cast of cohorts, could find themselves behind bars.

If the SEC diligently investigates the facts, we could see RICO indictments against illegal short sellers as early as Labor Day. Anyone charged under the RICO statue, even if they are found "not guilty," will become permanently damaged.

After observing the demise of Fannie Mae (FNM), and Freddie Mac (FRE) last week, it is expedient that the SEC move quickly to abolish the practice of naked short selling for all stocks. Short selling should only be allowed after the short seller has successfully borrowed the shares. The practice of selling shares that cannot be borrowed is a crime!

Discloser: No long or short positions in LEH, FNM or FRE.

http://seekingalpha.com/article/876...?source=d_email

...na ja - hoffen darf man ja :o
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Alt 30.07.2008, 21:10   #462
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antigop (1000+ posts) Wed Jul-30-08 12:48 PM
Response to Original message 95. FASB nixes Jan. 1 start date for consolidating off-balance sheet entities http://financialweek.com/apps/pbcs.dll/article?AID=/200...


The Financial Accounting Standards Board has delayed by a year the deadline by which companies will have to consolidate qualified special-purpose entities under FAS 140.

The new rule, designed to help investors more easily gauge a company’s liabilities from off-balance-sheet securitized assets, was slated to go into effect Jan. 1 for certain preparers, with a one-year delay for existing QSPEs.

But during its meeting this morning, FASB nixed that timeline, which had been approved in June.

“There was pressure and interest from Washington for this change of heart,” Jim Vogel, an analyst with FTN Financial Group, wrote in an e-mail. “But it’s not clear how much FASB was bowing to that as they were to complaints of whipsawing accounting changes at financial institutions, which may soon have the option of moving to ” rather than complying with U.S. GAAP.

Mr. Vogel added that the “SEC has pushed originally for fast action,” which likely contributed to the initial deadline. Some corporate executives had criticized that time frame as too short to be practical.

Wow. I think this may be the biggest news of the day. Finnfan

So the SuperRich need more time to move their wealth? DemReadingDU
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Alt 30.07.2008, 21:47   #463
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Alt 30.07.2008, 21:50   #464
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lunar ist offline   Mit Zitat antworten
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Alt 31.07.2008, 11:08   #465
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Political Satire Disguised as News


Straight Talk Shootin'......

Breaking............. (...hmmm oder doch nicht )
McCain Invades Iran Himself
USS Nimitz - Presumptive Republican presidential candidate John McCain flew an F-18 Hornet into Iranian airspace today and dropped several 2,000 lb. bombs on what he thought were important military targets. The bombs were actually dropped into a cluster of camels in an otherwise abandoned stretch of desert. One camel was reportedly wounded. McCain was not fired upon by Iranian air defense forces, presumably because he was nowhere near a significant target, and he returned to the USS Nimitz aircraft carrier at approximately 2PM Eastern Standard Time. Oh gaaaawwwd, read the rest





Posted by Undeniable Liberal at 7/30/2008 04:12:00 PM
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lunar ist offline   Mit Zitat antworten
Für Inhalt und Rechtmäßigkeit dieses Beitrags trägt der Verfasser lunar die alleinige Verantwortung. (s. Haftungshinweis)
Antwort Gehe zum letzten Beitrag


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