Wednesday, March 25, 2009

Frontrunning: March 25

  • Citi and Bank of America scrambling to overbid for AAA MBS (NY Post)
  • First ever failed U.K. gilt auction (Bloomberg)
  • The top 25 hedge fund managers of 2008 (Alpha) [Christian Baha made the list?]
  • Porsche avoids technical default but not thanks to Merrill and ABN Amro (Bloomberg)
  • Buiter on the PPIP: squeezing the tax payer (FT)
  • Dear AIG: I quit (NYT)
  • Bernanke, Geithner seek more power (WSJ)
  • Ten trillion and counting: the U.S. Debt (Frontline via Infectious Greed)
  • Treasury's top pick to run TARP, head of Taconic Capital and prominent Obama campaigner, withdraws (WSJ)
  • Cerberus vow to stick with auto sector until bitter end (FT)
  • Citi short interest quadruples between February 27 and March 13 (Reuters)
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Anonymous said...


EU Presidency: Obama Plans 'a Way to Hell'

Anonymous said...

right click and choose 'Open in New Window'.

steak113 said...

Dude, the failed gilt auction is a massive ass load of suck, but it is certainly not the "first ever"

Anonymous said...

how much of the citi short interest is SKF? does SKF work that way?

ts said...

So I think that clinches it. The PPIP is going to let banks bid up the MBS market and then flip them at auction. The buyers are then going to bleed the securities dry, making 20-30% ROE in the process, and then toss them leaving the FDIC holding the bag.

Anonymous said...

Tyler is rubbing elbows today at the Havard Club today, (Thurston Howell the III voice) yes lovie I did say Havard.

Trying to get a job so he can stop this dreadful blogging gig. LoL!