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Post by imSINGLEruRICH on Sept 19, 2008 23:31:18 GMT -5
By: woops2008 19 Sep 2008, 10:20 PM EDT Msg. 766859 of 766918Jump to msg. # i have a strange feeling there are far BIGGER days ahead :-))) By: cynthiae45 19 Sep 2008, 10:22 PM EDT Msg. 766863 of 766918Jump to msg. # Reversal of Fortune!
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Post by soonerlew on Sept 20, 2008 9:15:41 GMT -5
By: woops2008 19 Sep 2008, 11:37 PM EDT Msg. 766905 of 766941 Jump to msg. # CHICKY, so where's the problem here
the entire US defecit is 10+ trillion
the mortgage industry is 12 trillion
money market industry is 3.4 trillion
DTCC's depository provides custody and asset servicing for 3.5 million securities issues from the United States and 110 other countries and territories, valued at $40 trillion
yet the derivatives market is 596 trillion <----WOW
something is wrong with these numbers, where is the math error?
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Post by soonerlew on Sept 20, 2008 9:17:16 GMT -5
By: woops2008 19 Sep 2008, 11:59 PM EDT Msg. 766912 of 766941 (This msg. is a reply to 766910 by woops2008.) Jump to msg. # oh my goodness what a coincidence these are the same folks having trouble right now...
"These consist of investment banks who have traders who make markets in these derivatives, and clients such as hedge funds, commercial banks, government sponsored enterprises, etc"
gov sponsored- isn't that freddie and fannie? investment banks- oh, you know their names right? hedgies....lol, 4 to 5 a day dropping like flies commercial banks... what are lehman, merrill, and those other names are they commercial or investment, i get so confused at times?
bah wahhhhhhhhhhhhhhh
oh, and CMKX had absolutely nothing to do with all this
he he he
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Post by soonerlew on Sept 20, 2008 9:19:16 GMT -5
By: my69z 20 Sep 2008, 01:09 AM EDT Msg. 766919 of 766941 Jump to msg. # A Reconstruction Finance Corp Vs. a Resolution Trust Corp I prefer an RFC over the RTC being talked about..... " Schumer advocated a Great Depression-era Reconstruction Finance Corp. model, different from the Resolution Trust Corp.- type plan others have floated. Another RTC, which was a 1990s agency that sold devalued assets in the Savings and Loan Crisis, would ``simply transfer excessive risk to the U.S. government without addressing the plight of homeowners,'' he said. " www.bloomberg.com/apps/news?pid=20601087&sid=afIu492CyWMw&refer=home Chris
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Post by soonerlew on Sept 20, 2008 9:20:26 GMT -5
By: my69z 20 Sep 2008, 01:17 AM EDT Msg. 766920 of 766942 Jump to msg. # Canadian regulator places ban on short-selling Posted by: NSDM-forever Date: Saturday, September 20, 2008 1:03:56 AM In reply to: TSXminer who wrote msg# 260237 Post # of 260272 UPDATE 1-Canadian regulator places ban on short-selling Fri Sep 19, 2008 7:07pm EDT TORONTO, Sept 19 (Reuters) - Canada's largest provincial securities watchdog said late on Friday that it will follow other international authorities with a temporary ban on short-selling certain financial stocks. The Ontario Securities Commission said the ban, coming on the heels of similar orders in the United States, Britain and other countries, will be in effect until Oct. 3. Short-selling involves a bet that a security will fall in value. International regulators reined in short-selling of financial stocks this week in a bid to smooth volatility in financial markets. The largest Canadian financial stocks that trade in both New York and Toronto had already been put on the U.S. Securities and Exchange Commission's list of about 800 stocks in which short-selling was temporarily banned, including Royal Bank of Canada (RY.TO: Quote, Profile, Research, Stock Buzz) and Manulife Financial (MFC.TO: Quote, Profile, Research, Stock Buzz). The Ontario Securities Commission, which is the lead regulator of the Toronto Stock Exchange, said it was prohibiting short-selling of certain securities issued by financial companies that are listed on both the Toronto Stock Exchange and on a U.S. exchange. These include the country's largest banks and insurers, and a few smaller financial players such as Thomas Weisel Partners Group Inc (TWPG.O: Quote, Profile, Research, Stock Buzz) and Kingsway Financial Services Inc (KFS.TO: Quote, Profile, Research, Stock Buzz). In a separate statement, Ontario Finance Minister Dwight Duncan said he supported the move. "We are confident that our financial markets are strong and well positioned to withstand the current economic challenges," Duncan said. Some Canadian market participants said earlier in the day that they did not think it was necessary to halt short sales in Canada, since the country's financial system is under less strain than its U.S. counterpart. "I don't think they need to. Some of the Canadian stocks are included in (the U.S. ban) because they're cross-listed in New York," said Gavin Graham, director of investments at BMO Asset Management. "I don't think the Canadian market really had the same issues," said Paul Hand, managing director at RBC Capital Markets. The SEC said early on Friday it was concerned that short-selling in financial institutions' securities may be causing "sudden and excessive fluctuations" in their prices, threatening fair and orderly markets. In the domestic market, Canadian bank and insurance stocks shot higher on Friday, rising 5.7 percent, along with gains in all other sectors. Financial companies were not among the largest 20 short positions on the Toronto Stock Exchange, as of Sept. 15. But there had been an increase in short positions in Bank of Montreal (BMO.TO: Quote, Profile, Research, Stock Buzz) and National Bank of Canada (NA.TO: Quote, Profile, Research, Stock Buzz) since the previous report. Financial companies and U.S. lawmakers had pushed the SEC to end abusive short selling after Lehman Brothers Holdings (LEHMQ.PK: Quote, Profile, Research, Stock Buzz) was forced into bankruptcy protection early this week, and Merrill Lynch & Co Inc (MER.N: Quote, Profile, Research, Stock Buzz) agreed to be bought by Bank of America Corp (BAC.N: Quote, Profile, Research, Stock Buzz). (Reporting by Lynne Olver and Cameron French; editing by Rob Wilson) www.reuters.com/article/marketsNews/idUSN1931182520080919?sp=true
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Post by soonerlew on Sept 20, 2008 9:23:49 GMT -5
By: kilroy.killbasher 20 Sep 2008, 01:19 AM EDT Msg. 766921 of 766942 Jump to msg. # Linda Chatman Thomsen, Director of the SEC's Division of Enforcement, added, "Abusive short selling, market manipulation and false rumor mongering for profit by any entity cuts to the heart of investor confidence in our markets. Such behavior will not be tolerated. We will root it out, expose it, and subject the guilty parties to the full force of the law."
Sleep tight, perpetrators of short and distort.
\\\|/// ( o o ) ~~~~oOOo~(_)~oOOo~~~~ KILROY WAS HERE
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Post by soonerlew on Sept 20, 2008 9:24:31 GMT -5
By: dare_it_is 20 Sep 2008, 07:53 AM EDT Msg. 766923 of 766942 (This msg. is a reply to 766920 by my69z.) Jump to msg. # my69, seems everyone is joing in :-)) By: my69z 20 Sep 2008, 09:16 AM EDT Msg. 766937 of 766943 (This msg. is a reply to 766923 by dare_it_is.) Jump to msg. # Yes it does Dare...i'll take everything we can get... By: my69z 20 Sep 2008, 09:18 AM EDT Msg. 766938 of 766943 (This msg. is a reply to 766886 by my69z.) Jump to msg. # Look how far back "Uptick",,,,goes back and compare the comments in this timeline to what's been done and tossed around today......even with cox saying maybe a different approach is neccessary,,,like uptick price and depending on a sector...etc,,,,,wellll....that dosen't even look like a new idea outta the SEC goood lord Chris --------------------------------------------- Page 4 from this Washington Legal Foundation statement... financialservices.house.gov/media/pdf/052203pk.pdf " We recognize that short selling is not inherently antithetical to the interests of investors and the securities markets. Indeed, short selling plays a positive role in the securities market by providing market liquidity and pricing efficiency. But precisely because short selling has an impact on the market, there is also potential for abuse. For example, a "bear raid" occurs when short selling is designed to drive down the price of the stock by creating an imbalance on the sell-side interest. Congress was concerned about so-called "bear raids" following the 1929 stock market crash, and in enacting the Securities and Exchange Act of 1934, Congress gave the SEC the authority to stop short selling abuses. In response, the SEC has enacted several rules, such as Rule 10a-1 that includes the so-called "uptick" rule which essentially requires that a security may be sold short at a price above the price which the immediately preceding sale was effected. In 1963, the SEC studied short selling in response to a request by Congress, and recommended improvements in short sale data collection, but apparently no action was taken. In 1976, the SEC ordered a general investigation in short selling and considered suspending the uptick rule, but withdrew its proposals due to public opposition. In 1991, the House Committee on Government Operations issued a report on short selling, agreed that the SEC's uptick rule was valuable as a price stabilizing force, and encouraged Nasdaq to adopt similar restrictions. Moreover, and most relevant for the hearing today, the House Report also concluded that there appeared to be "a pattern of abusive and destructive rumor mongering, targeted specifically at companies in the equity securities of which some short-selling investors have established major short positions. "1The House Report also recommended that daily and weekly short-selling data activity and interest be obtained from broker-dealers, and be made available electronically. Id. On October 20, 1999, the SEC issued a "concept release" on short selling proposing to eliminate the uptick rule in certain circumstances and to make other changes in regulating short selling. However, no further action has been taken on the subject since then, and it is unclear what the Commission may do in this area in light of the recent Hedge Fund hearings and related ongoing fact-finding by the SEC "
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Post by soonerlew on Sept 20, 2008 9:26:58 GMT -5
By: woops2008 20 Sep 2008, 08:28 AM EDT Msg. 766932 of 766943 Jump to msg. # chicky did u see this one? holy cow
Sept. 20 (Bloomberg) -- The U.S. Securities and Exchange Commission, seeking to jumpstart a hunt for suspected manipulation of financial stocks, will require hedge fund managers, brokerages and institutional investors to describe under oath their bets on the firms
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Post by soonerlew on Sept 20, 2008 9:27:39 GMT -5
By: woops2008 20 Sep 2008, 08:30 AM EDT Msg. 766933 of 766943 Jump to msg. # woops,
mr broker market maker man, what was your short position in cmkm diamonds inc? excuse me? how many trillion? you do realize there was only 800 billion authorized in the company right?
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Post by soonerlew on Sept 20, 2008 9:34:56 GMT -5
rett DIAMOND JEDI Re: Buzz Talk 9/18 + « Reply #71 Today at 12:53am » -------------------------------------------------------------------------------- September 18th 10 top searches on yahoo: 1. Katie Holmes 2. Heidi Klum 3. Jessica Pare 4. UFO Pictures 5. Naked Short Selling6. Knight Rider 7. R. Kelly 8. Hitchhiker's... 9. Millet Recipes 10. Yemen Naked shorted shares didn’t even exist in 2004… Rett. millionaires.proboards86.com/index.cgi?board=main&action=display&thread=22117&page=4
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Post by hundredtoone on Sept 20, 2008 9:44:17 GMT -5
DERIVATIVES OVERHANG ESTIMATED AT $1,140 TRILLION While it is complacently alleged by some that the volume of derivatives contracts outstanding is worth anything from $370 trillion (the volume putatively owned before the NAKED SHORT fiasco by George Bush Sr. (DVD)), and other estimates put the derivatives overhang at around $770 trillion, the actual volume of the overhang is estimated by the Ambassador and Mr Cottrell as being of the order of $1,140 trillion. However since these transactions are untaxed and handled off-balance sheet, there is no way to prove the aggregate amount outstanding. The entire derivatives ‘Ponzi Game’ pyramid is now at risk, and in any case, only those in at the base of the pyramid have a melting icicle’s chance in hell of ever getting paid. And hell is where we are all now headed, thanks to the rampant, uncontrolled criminality of the perpetrators listed above, their criminalised intermediary associates, and the corrupt banks which thought the music would never stop. www.worldreports.org/news/36_high-level_criminals...Flying Moose(cmkxunofficial)
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Post by soonerlew on Sept 20, 2008 9:54:25 GMT -5
golden1101 DIAMOND JEDI MASTER Are you seeing it yet? « Thread Started Today at 2:34am » -------------------------------------------------------------------------------- IMO, we are Nationalizing the money . . . Putting the power where it belongs, under the Treasury. IMO . . . It is exactly as many have thought. The SEC will fold, as well as the FED. I could be way off, as I always understand that there are many ways to view every situation . . . I just like to share my thoughts when I get bored. lol Everyone gets all p*ssed off when it comes to "Nationalizing" or "Socializing" things . . . Of which certain things I would agree . . . However, the monetary system ABSOLUTELY should be "Socialized", as money is used by all. IMO, there should be no "private industry" when it comes to money. Money is a tool of exchange that is to be used by all individuals . . . There is really no way to be fair about such a tool unless there is a regulatory body that governs it. In fact, if I were to express my opinions fully . . . I would say it is really the ONLY thing that should be Nationalized or Socialized . . . The rest should be left up to the free markets to decide what needs society is willing to pay for. (of course there are other opinions to this as well, which I am not going into here . . . But hopefully you get the picture.) If people want small Government, then people really need to pay attention to the quote by Mayer Amschel Rothschild . . . "Give me control of a nation's money and I care not who makes her laws." If the monetary system is Governed and watched over BY THE PEOPLE, then all else will fall in to place. Again . . . JMO Cheers!! Hope to hang with some of you all really soon! golden millionaires.proboards86.com/index.cgi?board=main&action=display&thread=22200
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Post by soonerlew on Sept 20, 2008 10:02:29 GMT -5
golden1101 DIAMOND JEDI MASTER Re: It ends with Citi... « Reply #1 Today at 3:51am » -------------------------------------------------------------------------------- Today at 2:31am, Ghost wrote:... JMO . . . But with the influx of the money BEFORE "Fannie/Freddie" and "LEH" . . . Were people able to wrap their brains around the bail out money then? IMO Think HUGE!! I know . . . It is tough . . . HUGE!! Cheers! golden Don't remain "in the dark" folks . . . All is coming to Light! (at the behest of those who wish not.) « Last Edit: Today at 3:57am by golden1101 » john33339CITI: $20.65 at the close, up $4.00 on Friday... Volume: 265,457,511 Avg Vol (3m): 119,650,000 And CITI is still not even half of what it's 52 week high is. Its one year target is to gain an additional $2.00 on it's pps. And even THAT is less than half its 52 week high. Does THAT sound like a healthy and prosperous company? On a day of free government money, CITI got a 20% bounce. Their problems should be over with the bailout. The government...er uh...US TAXPAYERS are going to buy up all of the investment banks trash paper. Only thng is, does the government really know how much trash there is that needs to be bought? My opinion, is the deal was announced before all the cards were on the table. Begins with CITI, ends with CITI. I don't know....but from what I have seen, CITI doesn't fit my image of a healthy investment, and as such, I doubt it has much better corporate health. But hey, who am I? I'm not an investment borker, don't play one on TV. But there are a lot of people out there that aren't either. and we're the types that CITI depends on to stay solvent. If I were CITI, I be scared to death about the coming month or two. imo john « Last Edit: Today at 5:50am by john3339 » bbildmanCITI is not going to fall, no matter what acca says pianoplayerAcca did not say it would fall in those words. He stated, to the best of my recollection, it would begin and end with citi. To me that does not necessarily mean it will fall. bmaccat1"IT begins with Citi and IT ends with Citi" What is "IT"? Naked Short? If so: The Naked Short exposure began with Citi (Knight Securities) and will end with Citi ( ). ( ?) = coming government bail out ? Does not seem to compute since bail out is for mortgage default. Citi's naked short problems have not yet come to be general public knowledge. Perhaps we find out this week. Many say we are half way through. If so: Mortgage = 1/2 and Naked Short, credit cards (unsecured debt) = 1/2 or greater The end could be a Citi fall or a Citi survival. IMO Bob « Last Edit: Today at 9:24am by bmaccat1 » millionaires.proboards86.com/index.cgi?board=main&action=display&thread=22199
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Post by soonerlew on Sept 20, 2008 10:13:27 GMT -5
ocd Diamond Finder and Miner Where there's smoke, there's fire « Thread Started Yesterday at 6:39pm » -------------------------------------------------------------------------------- That's my thoughts and have been so in dealing with many of these rumors with CMKX. This little nugget came to us on Sept 10th and when I read it I had hoped it was true and then things could finally "start" moving along. Here it is... tinyurl.com/4auzorRe: gossip 9/10/08« Reply #14 on Sept 10, 2008, 5:16pm » -------------------------------------------------------------------------------- snifferpup richy_63: just heard this from toronto contact through my friend and contact6 in timmins; that the sec was told that info concerning nss has to be out no later than the 15 of sept 08 period no more excuses. the clock has stopped. concerning nss not saying we will see payout but things have to get rolling. --------------------------------------------------------------------------- When Monday, the 15th past I was kind of bummed that we didn't hear anything directly but I still had hope based on the bad news of Lehman late Sunday night. Then tramp started blasted us with all the news starting on Tuesday and the rest of this week is some serious history. Based on this, I would have to say our friend Richie has a serious contact. That's true credibility imo. « Last Edit: Yesterday at 6:41pm by ocd » tramp2.proboards88.com/index.cgi?board=general&action=display&thread=6192
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Post by soonerlew on Sept 20, 2008 10:16:23 GMT -5
hawkeye1 Senior Diamond Miner Re: Where there's smoke, there's fire « Reply #1 Yesterday at 6:52pm » -------------------------------------------------------------------------------- Hi ocd...Whats your take on a market cover? I've been hearing little tidbits about this the last month but I can't so far find anything to back it up. Thanks, Hawk « Last Edit: Yesterday at 6:53pm by hawkeye1 » ocd Diamond Finder and Miner Re: Where there's smoke, there's fire « Reply #2 Yesterday at 6:55pm » -------------------------------------------------------------------------------- It could happen but I don't see it. I think we see damages either way. Who knows anymore? tramp2.proboards88.com/index.cgi?board=general&action=display&thread=6192
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