Great piece from Zerohedge:
As observant readers will recall, a week ago we pointed out a letter in which the New York Fed’s Steven Manzari instructed AIG to stand down on all discussions with counterparties on “tearing up/unwinding CDS trades on the CDO portfolio.” At the time we focused on the word “stand down” as an [...]
Ai note: Goldman Sachs for the good of all of us..
Zero Hedge:
Latest NYSE Program Trading data out. Program trading last week ramped up by 27% from 26.5% the week before, to 33.7% of all NYSE buy+sell volume, and much higher than the 52 week average of 25.3%. The 15 most active member firms traded 1.9 [...]
Ai note: Institutional Risk Analytics insightful comments on stress tests, GM, Chrysler and the others
“Washington has indeed fixed the solvency problems of the large zombie banks — not with additional capital or stress tests, as many of us seem to think. Rather, the banks have been stabilized by turning them into GSEs via FDIC guarantees [...]
Ai note: no conflicts of interest at Goldman Sachs and FED. Why we wonder why is US economy in deep hole? Do you think there could be any green shoot of market recovery until these persons will stay in their companies and FED? Are you happy that you are paying everyday for their fraud and [...]
Ai note: they know how to trade a market, but what is their business? I think that they are no longer investment bank…but they always serve in the interest of their clients..
ZeroHedge:
Goldman Sachs has hit a new trading profit record: in the past quarter the company generated over $100 million trading profit on an absolute [...]