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Gloom, Doom, or Boom? Finance and Economics
Moderator: YMix
by monster_gardener » Sat Oct 01, 2011 5:53 am
For the love of G_d, may I consider I may be mistaken
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monster_gardener - Posts: 807
- Joined: Sat Sep 11, 2010 12:36 pm
- Location: Trolla. Land of upside down trees and tomatos........
Re: Gloom, Doom, or Boom? Finance and Economics
by AzariLoveIran » Sat Oct 01, 2011 7:08 am
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AzariLoveIran - Posts: 5296
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Re: Gloom, Doom, or Boom? Finance and Economics
by Mr. Perfect » Sat Oct 01, 2011 10:39 am
The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government - lest it come to dominate our lives and interests Patrick Henry
John Boner has brought change to America
John Boner has brought change to America
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Mr. Perfect - Posts: 5444
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Re: Gloom, Doom, or Boom? Finance and Economics
by Colonel Sun » Tue Oct 04, 2011 5:31 am
Never criticize anyone until you've walked several kilometres in their shoes.
Because
1. You're now several kilometres away; and
2. You've got their shoes.
Because
1. You're now several kilometres away; and
2. You've got their shoes.
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Colonel Sun - Posts: 6553
- Joined: Thu Aug 19, 2010 5:38 am
First legal case against a credit ratings agency
by the glowing carp » Tue Oct 04, 2011 9:58 am
around the world had their eyes fixed on the Federal Court of Australia today as the first legal case against a credit ratings agency went to trial.
And the case brought by 12 NSW local councils, who quickly lost 90 per cent of their capital after buying the “grotesquely complicated” Rembrandt-structured finance products in 2007, contains some explosive evidence.
“Smart” investment bankers had “sandbagged” Standard & Poor’s, “bulldozing” the world’s most venerable ratings agency into delivering its premiere “AAA” credit rating for a high-risk, and ultimately disastrous, financial product.
Just as remarkably, documents submitted to the court show these investment bankers were surprised to find that S&P didn’t even bother to do its own research for an “independent” report on the Rembrandt notes.
Rather, the ratings agency virtually cut and pasted a chunk of ABN Amro’s own analysis of the notes - even though this was the very bank seeking the credit rating and trying to sell the notes.
And the case brought by 12 NSW local councils, who quickly lost 90 per cent of their capital after buying the “grotesquely complicated” Rembrandt-structured finance products in 2007, contains some explosive evidence.
“Smart” investment bankers had “sandbagged” Standard & Poor’s, “bulldozing” the world’s most venerable ratings agency into delivering its premiere “AAA” credit rating for a high-risk, and ultimately disastrous, financial product.
Just as remarkably, documents submitted to the court show these investment bankers were surprised to find that S&P didn’t even bother to do its own research for an “independent” report on the Rembrandt notes.
Rather, the ratings agency virtually cut and pasted a chunk of ABN Amro’s own analysis of the notes - even though this was the very bank seeking the credit rating and trying to sell the notes.
better to reign in Hell than serve in Heaven
- the glowing carp
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Re: Gloom, Doom, or Boom? Finance and Economics
by Colonel Sun » Tue Oct 04, 2011 2:06 pm
Counterpoint view
Never criticize anyone until you've walked several kilometres in their shoes.
Because
1. You're now several kilometres away; and
2. You've got their shoes.
Because
1. You're now several kilometres away; and
2. You've got their shoes.
-
Colonel Sun - Posts: 6553
- Joined: Thu Aug 19, 2010 5:38 am
Re: Gloom, Doom, or Boom? Finance and Economics
by AzariLoveIran » Tue Oct 04, 2011 4:14 pm
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AzariLoveIran - Posts: 5296
- Joined: Mon Jun 21, 2010 7:41 pm
Re: Gloom, Doom, or Boom? Finance and Economics
by Demon of Undoing » Tue Oct 04, 2011 4:26 pm
Corporate respond, echoing Obama, Summers, et al:
" Just imagine how many we would have had to lay off without the tax holiday".
" Just imagine how many we would have had to lay off without the tax holiday".
Don't know what it is, but I'm agin'it.
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Demon of Undoing - Posts: 2401
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Re: Gloom, Doom, or Boom? Finance and Economics
by AzariLoveIran » Tue Oct 04, 2011 4:31 pm
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AzariLoveIran - Posts: 5296
- Joined: Mon Jun 21, 2010 7:41 pm
Re: Gloom, Doom, or Boom? Finance and Economics
by monster_gardener » Tue Oct 04, 2011 5:03 pm
Last edited by monster_gardener on Tue Oct 04, 2011 5:09 pm, edited 1 time in total.
For the love of G_d, may I consider I may be mistaken
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monster_gardener - Posts: 807
- Joined: Sat Sep 11, 2010 12:36 pm
- Location: Trolla. Land of upside down trees and tomatos........
Re: Gloom, Doom, or Boom? Finance and Economics
by monster_gardener » Tue Oct 04, 2011 5:07 pm
For the love of G_d, may I consider I may be mistaken
-
monster_gardener - Posts: 807
- Joined: Sat Sep 11, 2010 12:36 pm
- Location: Trolla. Land of upside down trees and tomatos........
Re: Gloom, Doom, or Boom? Finance and Economics
by Ammianus » Tue Oct 04, 2011 9:59 pm
Monster,
I am once again reminded of the concept of Amok. Amok in the whole system, that is.
I am once again reminded of the concept of Amok. Amok in the whole system, that is.
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Ammianus - Posts: 298
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Re: First legal case against a credit ratings agency
by noddy » Wed Oct 05, 2011 5:41 am
- noddy
- Posts: 2181
- Joined: Wed Jun 23, 2010 3:53 am
Re: Gloom, Doom, or Boom? Finance and Economics
by Mr. Perfect » Thu Oct 06, 2011 12:30 am
The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government - lest it come to dominate our lives and interests Patrick Henry
John Boner has brought change to America
John Boner has brought change to America
-
Mr. Perfect - Posts: 5444
- Joined: Sun Oct 03, 2010 7:55 am
- Location: Change is coming
Re: Gloom, Doom, or Boom? Finance and Economics
by AzariLoveIran » Thu Oct 06, 2011 2:18 pm
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AzariLoveIran - Posts: 5296
- Joined: Mon Jun 21, 2010 7:41 pm
Re: Gloom, Doom, or Boom? Finance and Economics
by AzariLoveIran » Thu Oct 06, 2011 4:15 pm
- Attachments
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- Countries-by-GDP-2010.jpg (44.51 KiB) Viewed 1295 times
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AzariLoveIran - Posts: 5296
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Re: Gloom, Doom, or Boom? Finance and Economics
by Colonel Sun » Fri Oct 07, 2011 12:50 pm
Never criticize anyone until you've walked several kilometres in their shoes.
Because
1. You're now several kilometres away; and
2. You've got their shoes.
Because
1. You're now several kilometres away; and
2. You've got their shoes.
-
Colonel Sun - Posts: 6553
- Joined: Thu Aug 19, 2010 5:38 am
Re: Gloom, Doom, or Boom? Finance and Economics
by Colonel Sun » Fri Oct 07, 2011 2:40 pm
Why Berkshire Hathaway was shrewd to invest in railways . . .
A major component of what's being shipped and where . . .
A major component of what's being shipped and where . . .
Never criticize anyone until you've walked several kilometres in their shoes.
Because
1. You're now several kilometres away; and
2. You've got their shoes.
Because
1. You're now several kilometres away; and
2. You've got their shoes.
-
Colonel Sun - Posts: 6553
- Joined: Thu Aug 19, 2010 5:38 am
Re: Gloom, Doom, or Boom? Finance and Economics
by Colonel Sun » Sun Oct 09, 2011 1:02 pm
Never criticize anyone until you've walked several kilometres in their shoes.
Because
1. You're now several kilometres away; and
2. You've got their shoes.
Because
1. You're now several kilometres away; and
2. You've got their shoes.
-
Colonel Sun - Posts: 6553
- Joined: Thu Aug 19, 2010 5:38 am
Re: Gloom, Doom, or Boom? Finance and Economics
by Colonel Sun » Sun Oct 09, 2011 2:30 pm
More on the China shadow [underground] banking sector
Never criticize anyone until you've walked several kilometres in their shoes.
Because
1. You're now several kilometres away; and
2. You've got their shoes.
Because
1. You're now several kilometres away; and
2. You've got their shoes.
-
Colonel Sun - Posts: 6553
- Joined: Thu Aug 19, 2010 5:38 am
Re: Gloom, Doom, or Boom? Finance and Economics
by AzariLoveIran » Tue Oct 11, 2011 7:31 pm
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AzariLoveIran - Posts: 5296
- Joined: Mon Jun 21, 2010 7:41 pm
Re: Gloom, Doom, or Boom? Finance and Economics
by Colonel Sun » Tue Oct 11, 2011 8:02 pm
I thought one of the purposes of hedge funds was to hedge their bets.
Never criticize anyone until you've walked several kilometres in their shoes.
Because
1. You're now several kilometres away; and
2. You've got their shoes.
Because
1. You're now several kilometres away; and
2. You've got their shoes.
-
Colonel Sun - Posts: 6553
- Joined: Thu Aug 19, 2010 5:38 am
Re: Gloom, Doom, or Boom? Finance and Economics
by AzariLoveIran » Tue Oct 11, 2011 8:12 pm
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AzariLoveIran - Posts: 5296
- Joined: Mon Jun 21, 2010 7:41 pm
Re: Gloom, Doom, or Boom? Finance and Economics
by Mr. Perfect » Wed Oct 12, 2011 2:58 am
Az, the CBOE has been hedging risks with no flaw for a generation.
Just sayin.
Just sayin.
The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government - lest it come to dominate our lives and interests Patrick Henry
John Boner has brought change to America
John Boner has brought change to America
-
Mr. Perfect - Posts: 5444
- Joined: Sun Oct 03, 2010 7:55 am
- Location: Change is coming
Re: Gloom, Doom, or Boom? Finance and Economics
by AzariLoveIran » Wed Oct 12, 2011 5:13 am
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AzariLoveIran - Posts: 5296
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