The cover story of the most recent BusinessWeek magazine, “Prisoners of Debt”, is an interesting read about the attempt to collect on debts discharged by bankruptcy by the debt collection industry. While this is certainly a shady and controversial practice…
Gold blasted through $800/oz on Friday to close at $808.50 on the NYMEX. That’s the highest level since January 1980 and close to the all time closing high of $825.50 set on January 21, 1980. But don’t worry about inflation…
“I was pressured for 2 weeks to change both my value and the conditions of my appraisal report …. of an appraisal I completed that did not come to their predetermined value for a ‘valued’ Wamu client.” – Appraiser (subscription…
“These companies don’t own factories, they don’t own hard assets, it’s a confidence game. If you don’t believe the numbers, it’s hard for us and others to get involved. All you need is a little change in their reserves and…
“Merrill has been making the rounds asking hedge funds to engage in one year off balance sheet credit facilities. One fund claimed that Merrill was offering a floor return (set buy back price).” – Janet Tavakoli (subscription required), Derivatives Consultant,…
A really bad day turned into a terrible day in the last hour (Intraday Chart). The reason, I think, is people wanting to get out of stocks ahead of tomorrows October Jobs Report which will be released before the open…
Financials are leading markets down today (XLF: -3.47%) on a downgrade of Citigroup (C: -6.43%) and a consideration that the Fed might really mean what it says and not cut rates again on Dec. 11. The Fed talked a tough…
Being The Shiznit means you get your own action figure (Picture).
The market’s first move in response to the Fed Decision was down, but it’s second move was up – big (Intraday Chart).
I think this was a little more hawkish than the market was expecting. Bernanke and Co. did cut rates 25 basis points but they said that inflation risks had increased and that “upside risks to inflation roughly balance the downside…