“Your unbiased appraisals of yesterdays senate proceedings don’t seem to jive with the headlines on newstands this a.m. — including the Murdoch/RNC rag that said ‘Sachs of S**T’…pretty funny I thought.”
They had to say something to sell copy to the mouth breathers of NYC.
A diagram of how much people actually understand anything about the ABACUS trade:
GS/Paulson/ACA/IKB (all equal) –>
the lawyers who papered the deal (they never really get the economics but at least understand the structure) –>
other regular Wall Street players –>
The staff of the Wall Street Journal –>
financial and legal academics (they can process the structure but don’t really understand market dynamics even though they like to pretend they do) –>
the SEC (they try hard, they honestly do, but any agency run by lawyers is doomed to a certain level of stupidity about how the market operates) –>
Senator Levin and his colleagues / the staff of the NY Times (tie) –>
the mouth breathing idiots around us here in NYC (at least they’re close enough to people who understand what’s going on to benefit from some limited kind of osmosis) –>
the mouth breathing idiots out there in flyover land.
April 28 (Bloomberg) — Europe’s worsening debt crisis is intensifying pressure on policy makers to widen a bailout package beyond Greece after a cut in the nation’s rating to junk drove up borrowing costs from Italy to Portugal and Ireland.
Don’t Pucker….
The crisis is deepening as German lawmakers debate whether to put taxpayers’ money at risk in the face of public opposition and an election in the state of North Rhine-Westphalia on May 9. Bild Zeitung, Germany’s biggest-selling tabloid, yesterday ran a front-page headline asking: “Why do we have to pay Greece’s luxury pensions?â€
Very annoying to get logged off in the middle of a post!
Biff, it just occurred to me that Whole Foods has really good, very extensive salad bars (hot, cold, traditional salads, dessert bar, daily specials (Thai, Indian, Chinese, etc.), Sushi bar) in all of their stores. Most of the deli salad bars seem the same to me and are sort of gross, but I actually like Whole Foods’ salad bars.
Pete, it was pretty clear that the Senators had no clue what they were talking about and did not have the mental capacity to understand the distinctions that the Goldman guys were trying to explain.
It’s very difficult to explain the nuances of the business to people who are not in it, just like I don’t understand quantum physics.
But, ask anyone in the business, broker dealers are almost ALWAYS shorting you stock when you want to buy a huge position. it’s the way the trade gets done.
On the Abacus thing, this was a private placement. the rules for private placements to QIIs (qualified institutional investors) are far different from SEC registered offerings to the public. These are rules already in place. If QIIs didn’t want it, why did they take it?? Most QIIs know that the broker/dealer may have a conflicting position.
quote:
Most of the deli salad bars seem the same to me and are sort of gross, but I actually like Whole Foods’ salad bars.
NEWSFLASH: the Whole Foods one is JUST AS GROSS! you’re just drinking the Whole Foods is better than everything else Koolaid!
*rob*
“Your unbiased appraisals of yesterdays senate proceedings don’t seem to jive with the headlines on newstands this a.m. — including the Murdoch/RNC rag that said ‘Sachs of S**T’…pretty funny I thought.”
They had to say something to sell copy to the mouth breathers of NYC.
A diagram of how much people actually understand anything about the ABACUS trade:
GS/Paulson/ACA/IKB (all equal) –>
the lawyers who papered the deal (they never really get the economics but at least understand the structure) –>
other regular Wall Street players –>
The staff of the Wall Street Journal –>
financial and legal academics (they can process the structure but don’t really understand market dynamics even though they like to pretend they do) –>
the SEC (they try hard, they honestly do, but any agency run by lawyers is doomed to a certain level of stupidity about how the market operates) –>
Senator Levin and his colleagues / the staff of the NY Times (tie) –>
the mouth breathing idiots around us here in NYC (at least they’re close enough to people who understand what’s going on to benefit from some limited kind of osmosis) –>
the mouth breathing idiots out there in flyover land.
Whole Foods has high quality stuff and a selection (breads, cheeses, etc, etc, etc) that you can’t beat.
But they don’t have real life necessities like Wise potato chips, Skippy peanut butter, etc, etc, etc. No one wants organic EVERYTHING.
And, rob is definitely correct about the prices of laundry detergent.
I bet you can make soap out of goat hoofs.
“Greek contagion coming to a theatre near you.”
homo or no homo?
Well the pounding will be ‘Full Homo” Biff!
http://www.bloomberg.com/apps/news?pid=20601087&sid=aRp5DU8Vht0k&pos=2
April 28 (Bloomberg) — Europe’s worsening debt crisis is intensifying pressure on policy makers to widen a bailout package beyond Greece after a cut in the nation’s rating to junk drove up borrowing costs from Italy to Portugal and Ireland.
Don’t Pucker….
The crisis is deepening as German lawmakers debate whether to put taxpayers’ money at risk in the face of public opposition and an election in the state of North Rhine-Westphalia on May 9. Bild Zeitung, Germany’s biggest-selling tabloid, yesterday ran a front-page headline asking: “Why do we have to pay Greece’s luxury pensions?â€
It just keeps getting better..
You will not make it out 2010…
The What
Someday this war is gonna end..
I know….CH….I know.
Very annoying to get logged off in the middle of a post!
Biff, it just occurred to me that Whole Foods has really good, very extensive salad bars (hot, cold, traditional salads, dessert bar, daily specials (Thai, Indian, Chinese, etc.), Sushi bar) in all of their stores. Most of the deli salad bars seem the same to me and are sort of gross, but I actually like Whole Foods’ salad bars.
Pete, it was pretty clear that the Senators had no clue what they were talking about and did not have the mental capacity to understand the distinctions that the Goldman guys were trying to explain.
It’s very difficult to explain the nuances of the business to people who are not in it, just like I don’t understand quantum physics.
But, ask anyone in the business, broker dealers are almost ALWAYS shorting you stock when you want to buy a huge position. it’s the way the trade gets done.
On the Abacus thing, this was a private placement. the rules for private placements to QIIs (qualified institutional investors) are far different from SEC registered offerings to the public. These are rules already in place. If QIIs didn’t want it, why did they take it?? Most QIIs know that the broker/dealer may have a conflicting position.
“Greek contagion coming to a theatre near you.”
homo or no homo?
Dona, loved your post at 9:51.
“somehow we managed to dust our selves off a little, especially those of us in financial services”
SOME of us in financial services managed to dust ourselves off.
SOME of us are still suffering the effects of the massive lay offs.
Just sayin’, donatella.