Archive for July, 2008
FDIC Can Cover About 1% of “Potential Obligations”
July 15th, 2008This article is a few months old, so it doesn’t take the IndyMac implosion into account. Via: Forbes: In the case of bank collapse, the FDIC has to step in to insure the value of deposits. Normally the FDIC attempts to maintain a fund at 1.25% of the value of its potential obligations. In recent […]
Customers Line Up to Remove Deposits from Failed IndyMac Bank
July 15th, 2008That’s IndyMac Federal Bank now. Via: Los Angeles Times: As thousands of customers waited hours in the heat Monday to withdraw deposits from failed IndyMac Bank, investors dumped the stocks of many mortgage lenders, precipitating the steepest one-day decline in banking shares since 1989.
EUR/USD RECORD HIGH
July 15th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. …the dilutive effects of this aren’t baked into the dollar yet… I’m still unflinchingly short the dollar. —EMERGENCY: U.S. GOVERNMENT TO TAKE “UNLIMITED STAKES” IN FANNIE AND FREDDIE Let’s see if the euro can get a toe hold up here. Gold […]
Citigroup’s $1.1 Trillion of Mysterious Assets Shadows Earnings
July 14th, 2008Via: Bloomberg: At an investor presentation in May, Citigroup Inc. Chief Executive Officer Vikram Pandit said shrinking the bank’s $2.2 trillion balance sheet, the biggest in the U.S., was a cornerstone of his turnaround plan. Nowhere mentioned in the accompanying 66-page handout were the additional $1.1 trillion of assets that New York-based Citigroup keeps off […]
“Unmitigated Disaster”
July 14th, 2008U.S. taxpayers and dollar holders are essentially going to eat the real estate crisis. —EMERGENCY: U.S. GOVERNMENT TO TAKE “UNLIMITED STAKES” IN FANNIE AND FREDDIE Via: Bloomberg: The U.S. Treasury Department’s plan to shore up Fannie Mae and Freddie Mac is an “unmitigated disaster” and the largest U.S. mortgage lenders are “basically insolvent,” according to […]
The Next Bubble: Priming the Markets for Tomorrow’s Big Crash
July 14th, 2008Mmm hmm. Via: Harpers: There is one industry that fits the bill: alternative energy, the development of more energy-efficient products, along with viable alternatives to oil, including wind, solar, and geothermal power, along with the use of nuclear energy to produce sustainable oil substitutes, such as liquefied hydrogen from water. Indeed, the next bubble is […]
Stock Futures Up
July 14th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. HA. I love it. Just remember this: Pop goes the weasel. It’s so easy to screw with shorts, short term. Bullshit press release. Market makers collude and stand on the bid for a few minutes or even hours. Maybe the index […]
Afghanistan: Nine U.S. Soldiers Killed in Taliban Assault on Base
July 14th, 2008Via: Seattle Times: Nine U.S. soldiers were killed Sunday when Taliban insurgents carried out a bold assault on a remote base near the border with Pakistan, senior U.S. and NATO officials said. The attack, the worst against U.S. forces in Afghanistan in three years, illustrated the growing threat of Taliban extremists and their associates, who […]
Cryptogon Reader Signs Up for Hosting with BlueHost
July 14th, 2008Thanks to the owner of centenarymemorialgardens.com.au for signing up for hosting with BlueHost. Cryptogon received $65.
Bachelor of Arts in Homeland Security Corporate Management and Assessment
July 14th, 2008Do they learn effective placement of the goo gun? Via: Midway College: Specifically, this program is designed to prepare Homeland Security Corporate Management and Assessment professionals who are equipped with the knowledge and skills necessary to function as managers of corporate or industrial security programs and who are knowledgeable in state-of-the-art vulnerability assessment, risk management, […]
