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June 25, 2008



Ahh, your plenty smart Axel. The fed is dusting off the old 1991-92 playbook, which is what unscrewed the banks the last real serious credit crisis. Steep yield curve for a couple of years, plus the yen carry trade put a lot of capital back in the coffers. This time though the credit crisis is much worse and the we got inflation back. So who knows. In the meantime, your exactly right. They are going to try to squeeze every last dime they can out of the paying customers, you and I.


i'm one of the least smart guys who reads this but am i the only one who sees it this way:
the banks are all fucked. they are dead off of paper so the guv't is allowing them to buy time to "earn" fresh money (raping the guys who still py their bills) by lowering rates while the banks still charge tons, so they can make a few billion each quarter and then announce yet another "surprise" $10bb writedown or so. each time saying it is the last. so they can get through anothr quarter. all the while getting yet another middle eastern country to "pick off" another huge chunk of them "cheap". remember when the first time the oil guys "stole" a piece of citi w/that crazy "cheap" infusion a few months ago? ummmm....that was a loser already.
stay short pony boy. stay golden, and stay short.

seeking omega

I've enjoyed wathching these rating analysts come out and say things that completely contradicts the actions that they took when it mattered


nope lemming. there's a 4 hour rain delay and then extra innings


Wait just a cotton-pickin' second there. I thought someone said we'd just finished the seventh-inning stretch of the Credit Meltdown, and that the forecast for the second half of 2008 was all sunshine and flowers?

Loan Banks

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This should not come as a surprise to anyone. The ratings agencies are famous for having the dumbest people on the street. They are essentially made up of people who could not get a job at any of the ibanks. The street has been gaming these guys forever. Ratings havn't meant shit for a long long time.


What haven't these guys screwed up? How big you think the losses are gonna be for this one?

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