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The "Repo 105" Scam: How Lehman Fooled Everyone (Including Allegedly Dick Fuld) And How Other Banks Are Likely Doing This Right Now

carlos — Thu, 11 Mar 2010 22:53:59 +0000

Presenting a detailed look at “Repo 105″ – the next soundbite sure to fill the airwaves over the next weeks and months, as more and more banks are uncovered to be using this borderline criminal accounting gimmick to make their leverage ratios look better. This is the first time we have heard this loophole abuse by a bank, be it defunct (Lehman) or existing (everyone else).

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The "Repo 105" Scam: How Lehman Fooled Everyone (Including Allegedly Dick Fuld) And How Other Banks Are Likely Doing This Right Now

Presenting The Lehman Bankruptcy Examiner Report

carlos — Thu, 11 Mar 2010 22:12:56 +0000

We present the first two volumes (out of 9) of the massive 2,200 page compendium that represents the just declassified examiner’s report in the Lehman bankruptcy case.

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Presenting The Lehman Bankruptcy Examiner Report

Joe Saluzzi Discusses Why This Is Now A "Jason Bourne" Market In Which Everyone Just Keeps An Eye Out For The Exits

carlos — Thu, 11 Mar 2010 21:15:26 +0000

Themis Trading’s Joe Saluzzi once again points out the flaws in the all clear psychology, and that if only we can break 1,150 on the S&P (which we just did), we are headed straight to 36,000 on the Dow (although as we are now in a fully blown melt up as we pointed out last week , we very well might). As Saluzzi says, we find ourselves in a “A momentum driven, fragmented equity market. What we see is a very lite volume morning normally, jacked up really fast by a couple of programs that come in, and then you get this churn most of the day.

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Joe Saluzzi Discusses Why This Is Now A "Jason Bourne" Market In Which Everyone Just Keeps An Eye Out For The Exits

2,200 Page Report Detailing Lehman’s Collapse To Be Made Public Shortly

carlos — Thu, 11 Mar 2010 20:45:36 +0000

The 2,200 page report prepared by examiner Anton Valukas detailing the collapse of Lehman Brothers, will be declassified, as, according to wifebeater Judge Peck, it reads like a “bestseller”, and is ” one of the most extraordinary pieces of work product I have ever encountered.” Now, for the first time, we will get an objective analysis into Dick Fuld’s allegations that short sellers were responsible for the death of his firm, and just how it is that Barclays managed to (metaphorically) steal the perfectly solvent North American brokerage division for pennies on the dollar (with the Judge’s blessing in the first place). Reuters reports : Valukas said in court he expected the report would be made publicly available within the next few hours, and before the close of business. The 2,200 page report was filed under seal with the court in February, and has been withheld from public view because the examiner obtained much of the information subject to confidentiality agreements.

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2,200 Page Report Detailing Lehman’s Collapse To Be Made Public Shortly

New Flow Of Funds Report Demonstrates Massive Selling In Agency & MBS Holdings Away From The Fed

carlos — Thu, 11 Mar 2010 20:15:38 +0000

Today the Fed released its Q4 Flow of Funds, aka Z.1 , report. Using the data in this report, some have focused on such temperamental measures as household net worth, which in Q4 came out at $54.2 trillion, a $700 billion increase from Q3. What they will not disclose is that all of this increase came courtesy of the stock market, as the “Equity Shares at Market Value” line increased from $15.546 trillion to $16.234 trillion: this represented the entire increase in household net worth

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New Flow Of Funds Report Demonstrates Massive Selling In Agency & MBS Holdings Away From The Fed

Get Ready for Range Expansion Play from SPY Intraday Triangle

carlos — Thu, 11 Mar 2010 20:10:21 +0000

If you’ve been lulled to sleep by the recent intraday market action, don’t fret. According to the long-standing price principle of “Range Expansion and Contraction,” the next move in the market is likely to be a range expansion breakout swing move, that will offer opportunities for those aggressive enough to take them. Let’s take a quick ‘pure price’ look at the S&P 500 ETF SPY and note the symmetrical triangle compression and the boundaries to watch for a potential breakout

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Get Ready for Range Expansion Play from SPY Intraday Triangle

$13 Billion 30 Year Reopening Closes At 4.679%, Directs Take Down Whopping 29.7%: A New Record, Indirects Settle For Mere 23.9%

carlos — Thu, 11 Mar 2010 18:19:57 +0000

Yield 4.679% vs. Exp

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$13 Billion 30 Year Reopening Closes At 4.679%, Directs Take Down Whopping 29.7%: A New Record, Indirects Settle For Mere 23.9%

Detroit Attempts To Sell $250 Million In Bonds Without Financial Disclosure Via Goldman

carlos — Thu, 11 Mar 2010 16:45:50 +0000

Here comes the first municipal Hail Mary: Detroit is attempting to sell $250 million in debt, while disclosing in the associated prospectus of the possibility of filing for Chapter 9 bankruptcy protection. The kicker – no recent financial statements are available .

CDS Speculators May Or May Not Be Cause For Riots In Greece To Turn Violent

carlos — Thu, 11 Mar 2010 16:07:52 +0000

More postcards from a post-austerity Greece where 10,000 protesters take to the streets. Pick the CDS speculators out.

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CDS Speculators May Or May Not Be Cause For Riots In Greece To Turn Violent

Guest Post: Captain Fantastic And The Dirt Cowboy

carlos — Thu, 11 Mar 2010 15:21:39 +0000

Submitted by Sal Arnuk at Themis Trading Captain Fantastic was Elton John’s 9 th album released in 1975.

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Guest Post: Captain Fantastic And The Dirt Cowboy