- AIG FP declines to sign up for ISDA Big Bang protocol, instead relying on ongoing bilateral arrangements (FT). Surprisingly, what is good for everyone else in terms of market transparency is not good enough for AIG.
- GM told to prepare for "surgical" bankruptcy (NYT)
- ...Despite major hurdles for GM (WSJ)
- ...And Chrysler creditors disagreeing with U.S. debt-cut plan (WaPo)
- Top 10 signs you are living in a banana republic (Barricade Blog)
- Goldman Sachs raises $5 billion to buy discounted private equity holdings ahead of flood of forced sales (FT)
- Bailed out banks to face probe over fee hikes (WSJ)
- HSBC to sell London HQ to avoid British bailout (Bloomberg)
- Bailout mania: of, by, and for the bondholders (Slate)
- Showdown seen between banks and regulators (NYT)
- Citigroup's place on a roll of shame (Fortune)
- Bloomberg chart of the day: Steel Partners Japan waving white flag of surrender:
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3 comments:
Off Topic (but relevant to the stock market) question from a neophyte trader,
Does the recent runup in financials have anything to do with the SEC talking about putting curbs on naked short-selling?
Seems to me that if naked shorting is made illegal, it would put a premium on actually owning the shares to be shorted (so that you could loan them out to hedge funds to short) if you believe that financials are in for more hurting later this year.
I realize there's a lot more going on, and again, I apologize if this is a rudimentary question, but I thought I'd share it with the board.
Thanks for your hard work Tyler,
neophyte
Abby Cohen calls 900 as fair value.
Shanky confirms:
http://3.bp.blogspot.com/_l8gHrhQiXlE/SeKipM3e_iI/AAAAAAAAAMo/A4to3XcZrpg/s1600-h/60m+drill+down.png
Look for an up day, S&P up 15.
Abby Cohen is a joke of an analyst, don't waste your time with her.
I have a magic 8 ball that his a higher rate of return than Abby Cohen.
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