First rumor of the day: AIG physical shares are soft, extra absorbent and two ply.
Second rumor: as ZH speculated previously, gov't is recalling financial shares from repo window causing massive squeeze... Disclosure: ZH is long Citi stock just for this event.
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14 comments:
AIG booking 1st profit in years after selling CDS on Smith & Wesson and Remington Arms
Pure profits my man! Money laundering is big biz-nass yo!
AIG came out and said it was profitable in January and February
Hearing Apollo is gearing up for another LBO.
Geithner will commingle U.S. federal tax receipts with AIG net income line
rumors gov pulling borrow
counterparties investing collateral money in AIG stock
irate us investors buying AIG stock to use as toilet paper. rumor is it two ply
Government recalling their stock (as well as BAC, C, etc.) from the shorts. A nice squeeze play I think...
is it possible that counterparties, having received collateral, now have less counterparty risk to AIG and are therefore unwinding short positions? just a guess.
tyler, you still long C at 2.30?
took half off at 2.50
When you say repo-window, you're saying government borrowed cash w/ aig as collateral?
How is a repo structured with equities? How is the FV in the repo determined?
was merely referring to stock borrow repo. i.e. it is become difficult to short fins, and in many cases accounts are forced to close a short position under instructions from PB
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