Title: Mcgowanjm Wire 2012 Source:
[None] URL Source:[None] Published:Feb 26, 2012 Author:Various Post Date:2012-02-26 09:15:13 by A K A Stone Keywords:None Views:1373504 Comments:2390
Here is the good news: we are 100.4% certain JPM was the ONLY prop trading bank to be massively, massively short IG9-18 into this epic blow out. Because if other had suffered billion dollar losses, they would all pull a Jamie Dimon and fess up. Right?
Warning: This commentary is not for the faint of heart.
I thought I'd start this particular Monday morning, May the 14th, with a little rant. Sometimes it helps to ditch the uber-rational, cool-headed analysis and remind people just how screwed up things are on this third toxic landfill from the Sun.
So what happens when a major retailer hires a CEO away from a personal electronic conglomerate who has no experience in retail? This, as reported by Market Watch: J.C. Penney Co. said on Tuesday that it swung to a first-quarter loss of $163 million, or 75 cents a share, from a profit of $64 million, or 28 cents, a year earlier. Sales fell 20% to $3.15 billion. On an adjusted basis, the company said it lost 25 cents a share. Analysts surveyed by FactSet estimated the Plano, Texas-based company to lose 1 cent a share on sales of $3.45 billion. Comparable store sales tumbled 19%, also missing estimates.
(Reuters) - A spreading bank run could hasten Greece's exit from the euro zone but it certainly doesn't have to end that way.
It is far less clear what the impact would be should the wave of withdrawals accelerate in other peripheral states such as Spain or Portugal, which are further from outright revolt over German-led austerity, and which, due to their sheer size, will enjoy a vastly improved negotiating position.
Reuters/Washington Post: Who came up with the Orwellian term:
'accelerated withdrawal' to describe a bank run...LMFAO
He's not dead, little girl, he's just sleeping for a long time.....8D
I would like a complete clear-out of all those politicians still hooked on the lazy, mendacious, and altogether unimaginative habit of saying “Let me be clear (about this)”.
Not only that, as there is obviously no clear blue water between any of the buggers on this issue, I wish to make clear that there is clearly a very strong chance that a clear majority of politicians may fall victim to my let-me-be-clear-seeking sledgehammer, club or truncheon.
Because it’s important to clear up any misunderstanding about just how clear-air-headed these clear-drivelling idiots are going to be if they persist in claiming to be clear when it is abundantly clear that their objective is to be a clear as mud that has had every scintilla of clarity removed from it by a clearance specialist.....;}
