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stallion4
Joined: 26 May 2006
Posts: 692
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 Posted: Fri Feb 06, 2009 10:18 pm Post subject: Don't Panic - Next week is critical! |
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Don't Panic - Next week is critical!
http://www.youtube.com/watch?v=5SAaSM3LPwM
| Quote: | Don't Panic!!!! The dollar and the stock market will collapse THIS WEEK
I had a tip about a freaky chap called Reinhardt - He's now gone dark
His website is dark; now only reads I Told You So  6 for 6
http://www.enterprisecorruption.com/
Now it's gone altogether.
(BUT If you're looking for reinhardt background, a lot of his pages are in google cache - search for reinhardts journal :-)
The YouTube page hosted by "a friend" has also gone. (DavidLightman83)
This is scary stuff.
He has publicly declared Feb 9 and Feb 13 as the dates of the next financial 'Event'.
He at one point had the folowing out there regarding Feb 9:
Short 7 Now.
He's big on cryptic posts - I think the 7 is the US (7th Empire). So he expects the Dollar to drop a lot on Monday and take down the Stock Market with it.
He also warned about dodgy items on Citigroups official balance sheets...
Citigroup Hides Mystery Meat in Balance Sheet:
http://www.bloomberg.com/apps/news?pid=20601039&sid=aQdj5yq_WnDI
What's he on about? These are tax liabilities for the future. Either he's pointing out how dodgy they are, or he's pointing out they stand to gain Billions!
Legatus Video:
http://www.youtube.com/watch?v=5yf1bpq9p9Y
BTW that seems to be the Legatus channel; but I might be wrong.
Legatus:
http://www.legatus.org/public/index.asp
The other site in Tampa has it's own web site:
http://www.legatustampabay.com/Legatus/default.cfm
On there you can find a brochure on the numbers of members. Over 4200 in 2007.
Now to be a member you have to have a certain amount of money. Like a lot.
And you have to be a CEO or Owner of a business, with at least 30 employees.
There is an odd connection here to look at:
http://avewatch.com/?p=43
Also, they appear to be involved in Building both Ave Maria University and the town of Ave Maria, Florida.
Check on Google Earth - there's nothing there... Yet there are some very nice pictures of the place on Panorama, and the rectory. And a pic of a very drunk teenager showing her knickers! |
Mike's Youtube channel:
http://www.youtube.com/user/FeverIAm
Just to be on the safe side, if you haven't already done so, and if you have some extra money put aside, it might be an excellent idea to stock up on water, food, supplies, etc. this weekend to get you through what may be coming down the road very soon.
_________________
"Someday a real rain will come and wash all this scum off the streets." ~Travis Bickle |
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stallion4
Joined: 26 May 2006
Posts: 692
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| Posted: Fri Feb 06, 2009 10:19 pm Post subject: |
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Don't Panic!!!! The dollar and the stock market will collapse THIS WEEK Pt 1
http://www.youtube.com/watch?v=Z8EHcHjsZMk
http://www.youtube.com/watch?v=Z8EHcHjsZMk
| Quote: | His website is dark; now only reads I Told You So 6 for 6
http://www.enterprisecorruption.com/
(If you're looking for reinhardt background, a lot of his pages are in google cache - search for reinhardts journal ( MONTH DATE )
He has publicly declared Feb 9 and Feb 13 as the dates of the next financial 'Event'.
He's big on cryptic posts
He also warned about dodgy items on Citigroups official balance sheets...
Citigroup Hides Mystery Meat in Balance Sheet:
http://www.bloomberg.com/apps/news?pid=20601039&sid=aQdj5yq_WnDI
What's he on about? These are tax liabilities for the future. Either he's pointing out how dodgy they are, or he's pointing out they stand to gain Billions!
Legatus Video:
http://www.youtube.com/watch?v=5yf1bpq9p9Y
Legatus:
http://www.legatus.org/public/index.asp
There is an odd connection here to look at:
http://avewatch.com/?p=43
Also, they appear to be involved in Building both Ave Maria University and the town of Ave Maria, Florida.
Check on Google Earth - there's nothing there... Yet there are some very nice pictures of the place on Panorama, and the rectory. And a pic of a very drunk teenager showing her knickers!
Reinhardt predictions on Sept 5:
http://finance.google.com/group/google.finance.983582/browse_thread/thread/aad550b590f931bf?pli=1
Lets Look at FEBRUARY and what REINHARDT has to say..:
http://www.godlikeproductions.com/forum1/message642806/pg1
Reinhardt Right Again (GM) (FORD):
http://www.godlikeproductions.com/forum1/message683762/pg1
Last week's page suggests UBS is in trouble. The YouTube videos had an explanation of synthetic CDOs and a clip from War Games. Done now, sorry i didn't grab it - maybe someone else did?
Article on synthetic CDOs:
http://www.businessspectator.com.au/bs.nsf/Article/A-tsunami-of-hope-or-terror-LHRJP?OpenDocument
Synthetic CDO's are complex little known financial instruments (insurance contracts) that are on the brink of triggering "the most colossal rights issue in the history of the world, all at once .. mandatory."
The triggering of default on the trillions of synthetic CDOs could be a disaster that tips the world from recession into depression. Nobody knows, but it wont be a small event.
They [synthetic CDOs] have a variety of twists and turns, but it usually goes something like this:
if seven of the 100 reference entities default, the SPV has to pay the bank a third of the money;
if eight default, its two-thirds;
and if nine default, the whole amount is repayable.
Now, reinhardts predictions are around the banks. Guess which ones are listed in most of the synthetic CDO?
the three Icelandic banks,
Lehman Brothers,
Bear Stearns,
Freddie Mac,
Fannie Mae,
American Insurance Group,
Ambac,
MBIA,
Countrywide Financial,
Countrywide Home Loans,
PMI,
WashingtonMutual
General Motors,
Ford
a lot of US home builders
Six have gone already, if 1 more goes, it starts.
If 2 or 3 go down - then we are in an entirely new world of pain.
It will take out a lot of investors. Municipalities, Companies, Charities, Contries and Investors and some smaller banks. Money will simply vanish from their accounts.
Straight back to the banks.
http://www.metafilter.com/77018/Synthetic-CDOs-tsunami-event-when-major-bankruptcies-reaches-9-currently-6
Who's gonna take the hit? Places like this- Wisconsin Schools Shocked By Bad Investment:
http://www.npr.org/templates/story/story.php?storyId=96723051
Do you think the government knows? OF COURSE THEY DO! That's why they are panicking!
BTW - This is the Seventh bank to fail in the US this year.
Regions Bank, Birmingham, AL, Acquires All the Deposits of FirstBank Financial Services, McDonough, GA:
http://www.fdic.gov/news/news/press/2009/pr09017.html
PREPARE - NOW! |
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"Someday a real rain will come and wash all this scum off the streets." ~Travis Bickle |
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stallion4
Joined: 26 May 2006
Posts: 692
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| Posted: Sat Feb 07, 2009 12:28 am Post subject: |
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Don't Panic!!!! The dollar and the stock market will collapse THIS WEEK Pt 2
http://www.youtube.com/watch?v=Il1_A77OAIQ
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"Someday a real rain will come and wash all this scum off the streets." ~Travis Bickle |
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aspectus
Joined: 18 Aug 2006
Posts: 164
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| Posted: Sat Feb 07, 2009 1:30 am Post subject: |
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to let it bleed, or not to let it bleed...
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The larger a society or confederacy, the greater the amalgamation of collective factors - which is typical of every large organization - the more aggravated the moral and spiritual degeneration of the individual. - Carl Gustav Jung |
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Nuckelhedd
Joined: 29 Dec 2008
Posts: 53
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| Posted: Sat Feb 07, 2009 11:14 am Post subject: Re: Don't Panic - Next week is critical! |
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[/quote]Also, they appear to be involved in Building both Ave Maria University and the town of Ave Maria, Florida.
Check on Google Earth - there's nothing there... Yet there are some very nice pictures of the place on Panorama, and the rectory. And a pic of a very drunk teenager showing her knickers! [/quote]
I did check and if you click on the little blue dot you get a lovely picture of ...... you guessed it.... the rectory .(oratory)
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Today is the Tomorrow I waited for Yesterday |
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SuperstarNeilC
Joined: 10 Apr 2007
Posts: 168
Location: Manchester, England
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stallion4
Joined: 26 May 2006
Posts: 692
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| Posted: Sat Feb 07, 2009 7:01 pm Post subject: |
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Just a taste of what may be in store...
http://www.youtube.com/watch?v=eC2pAgePXIg
_________________
"Someday a real rain will come and wash all this scum off the streets." ~Travis Bickle |
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stallion4
Joined: 26 May 2006
Posts: 692
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| Posted: Sat Feb 07, 2009 8:17 pm Post subject: |
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Reinhardt's back. Left this on his website today...
http://www.enterprisecorruption.com/
| Quote: | I Told You So;-)
6 4 6
the market is not speculative
the market..
is
timed
(any questions?)
***
hey wp
**
hey rtrr
**
hey jason leopold
(lets see if we can get Skilling out of jail, ehh?)
**
hey truthout
***
hey jim cramer
**
hey CNBC
**
hey GE
***
hey jeff immelt
(remember that PACS question i asked you in nashville?)
http://en.wikipedia.org/wiki/Picture_archiving_and_communication_system
well..
it took me ten years or so..
but i figured out how hospitals were going to pay for it;-)
**
hey ConnectCare, Inc.
nice business plan
(looks like you’ve got a few PACS installations on your plate)
**
speakin’ of business plans, reinhardt highly recommends..
the NYT says ~ “riveting” … “a MUST read..”
***
646
***
hey diasonics
(kma)
***
i am taking applications for anyone who wishes to work for reinhardt’s new start-up
(and no, ernst & young.. i don’t need your “venture capital”)
quick question: are you EVER going to learn how to count money?
p.s.
anybody want to buy a broken clock that’s right 6 times a day?
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"Someday a real rain will come and wash all this scum off the streets." ~Travis Bickle |
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stallion4
Joined: 26 May 2006
Posts: 692
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| Posted: Sat Feb 07, 2009 9:36 pm Post subject: |
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This Reinhardt is quite a character. He removed what I posted above and replaced it with this...
http://www.enterprisecorruption.com/
| Quote: | I Told You So;-)
6 4 6
the market is not speculative
the market..
is
timed
(any questions?)
i am taking applications for anyone who wishes to work for reinhardt’s new start-up
***
reinhardt is also taking applications for a few new girlfriends
i know a nice restaurant in Atlanta called food101
but right now i am headin’ to the Ship & Anchor on Roswell Road in Sandy Springs
drop on by
i’ll buy you a drink ( i can afford it)
p.s.
anybody want to buy a broken clock that’s right 6 times a day?
or
the world’s largest whistle? |
_________________
"Someday a real rain will come and wash all this scum off the streets." ~Travis Bickle |
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Fintan
Site Admin
Joined: 18 Jan 2006
Posts: 3197
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| Posted: Sun Feb 08, 2009 11:22 am Post subject: |
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This guy Reinhardt was selling private membership to his info at
$750 a pop, according to the YouTube blogger.
He seems to have been getting people to pay for synthetic CDO
meltdown info that is already in the public domain, by wrapping it in
a "Legatus conspiracy" idea. Legatus being an Opus Dei-style group
who would trigger the CDO meltdown.
The synthetic CDO issues were spotted by KiwiKeith back
in mid-Nov 08 and I reported on it in full at that time.
Details are well known to Australian fraud lawyers.
Here's what I published back then:
Very, very interesting article KiwiKeith. Worth posting in full.
I think any mass transfer back to the banking sector -as outlined below-
could well be halted by a wave of litigation claiming fraud by the banks.
| Quote: | A tsunami of hope or terror?
Commentary byAlan Kohler
7:28 AM, 19 Nov 2008
As the world slips into recession, it is also on the brink of a synthetic
CDO cataclysm that could actually save the global banking system.
It is a truly great irony that the world’s banks could end up being saved
not by governments, but by the synthetic CDO time bomb that they set
ticking with their own questionable practices during the credit boom.
Alternatively, the triggering of default on the trillions of dollars worth of
synthetic CDOs that were sold before 2007 could be a disaster that tips
the world from recession into depression. Nobody knows, but it won’t be a
small event.
A synthetic CDO is a collateralised debt obligation that is based on credit
default swaps rather physical debt securities.
CDOs were invented by Michael Milken’s Drexel Burnham Lambert in the
late 1980s as a way to bundle asset backed securities into tranches with
the same rating, so that investors could focus simply on the rating rather
than the issuer of the bond.
About a decade later, a team working within JP Morgan Chase invented
credit default swaps, which are contractual bets between two parties
about whether a third party will default on its debt. In 2000 these were
made legal, and at the same time were prevented from being regulated,
by the Commodity Futures Modernization Act, which specifies that
products offered by banking institutions could not be regulated as futures
contracts.
This bill, by the way, was 11,000 pages long, was never debated by
Congress and was signed into law by President Clinton a week after it
was passed. It lies at the root of America’s failure to regulate the debt
derivatives that are now threatening the global economy.
Anyway, moving right along – some time after that an unknown bright
spark within one of the investment banks came up with the idea of putting
CDOs and CDSs together to create the synthetic CDO.
Here’s how it works: a bank will set up a shelf company in Cayman
Islands or somewhere with $2 of capital and shareholders other than the
bank itself. They are usually charities that could use a little cash, and
when some nice banker in a suit shows up and offers them money to sign
some documents, they do.
That allows the so-called special purpose vehicle (SPV) to have
“deniability”, as in “it’s nothing to do with us” – an idea the banks would
have picked up from the Godfather movies.
The bank then creates a CDS between itself and the SPV. Usually credit
default swaps reference a single third party, but for the purpose of the
synthetic CDOs, they reference at least 100 companies.
The CDS contracts between the SPV can be $US500 million to $US1
billion, or sometimes more. They have a variety of twists and turns, but it
usually goes something like this: if seven of the 100 reference entities
default, the SPV has to pay the bank a third of the money; if eight
default, it’s two-thirds; and if nine default, the whole amount is repayable.
For this, the bank agrees to pay the SPV 1 or 2 per cent per annum of the
contracted sum.
Finally the SPV is taken along to Moody’s, Standard and Poor’s and Fitch’s
and the ratings agencies sprinkle AAA magic dust upon it, and transform
it from a pumpkin into a splendid coach.
The bank’s sales people then hit the road to sell this SPV to investors. It’s
presented as the bank’s product, and the sales staff pretend that the bank
is fully behind it, but of course it’s actually a $2 Cayman Islands company
with one or two unknowing charities as shareholders.
It offers a highly-rated, investment-grade, fixed-interest product paying a
1 or 2 per cent premium. Those investors who bother to read the fine
print will see that they will lose some or all of their money if seven, eight
or nine of a long list of apparently strong global corporations go broke. In
2004-2006 it seemed money for jam. The companies listed would never
go broke – it was unthinkable.
Here are some of the companies that are on all of the synthetic CDO
reference lists: the three Icelandic banks, Lehman Brothers, Bear
Stearns, Freddie Mac, Fannie Mae, American Insurance Group, Ambac,
MBIA, Countrywide Financial, Countrywide Home Loans, PMI, General
Motors, Ford and a pretty full retinue of US home builders.
In other words, the bankers who created the synthetic CDOs knew
exactly what they were doing. These were not simply investment products
created out of thin air and designed to give their sales people something
from which to earn fees – although they were that too.
They were specifically designed to protect the banks against default by
the most leveraged companies in the world. And of course the banks
knew better than anyone else who they were.
As one part of the bank was furiously selling loans to these companies,
another part was furiously selling insurance contracts against them
defaulting, to unsuspecting investors who were actually a bit like “Lloyds
Names” – the 1500 or so individuals who back the London reinsurance
giant.
Except in this case very few of the “names” knew what they were buying.
And nobody has any idea how many were sold, or with what total face
value.
It is known that some $2 billion was sold to charities and municipal
councils in Australia, but that is just the tip of the iceberg in this country.
And Australia, of course, is the tiniest tip of the global iceberg of synthetic
CDOs. The total undoubtedly runs into trillions of dollars.
All the banks did it, not just Lehman Brothers which had the largest
market share, and many of them seem to have invested in the things as
well (a bit like a dog eating its own vomit).
It is now getting very interesting. The three Icelandic banks have
defaulted, as has Countrywide, Lehman and Bear Stearns. AIG has been
taken over by the US Government, which is counted as a part-default,
and Freddie Mac and Fannie Mae are in “conservatorship”, which is also a
part default – a 'part default' does not count as a 'full default' in
calculating the nine that would trigger the CDS liabilities.
Ambac, MBIA, PMI, General Motors, Ford and a lot of US home builders
are teetering.
If the list of defaults – full and partial – gets to nine, then a mass transfer
of money will take place from unsuspecting investors around the world
into the banking system. How much? Nobody knows, but it’s many trillions.
It will be the most colossal rights issue in the history of the world, all at
once and non-renounceable. Actually, make that mandatory.
The distress among those who lose their money will be immense. It will
be a real loss, not a theoretical paper loss. Cash will be transferred from
their own bank accounts into the issuing bank, via these Cayman Islands
special purpose vehicles.
The repercussions on the losers and the economies in which they live, will
be unpredictable but definitely huge. Councils will have to put up rates to
continue operating. Charities will go to the wall and be unable to continue
helping those in need. Individual investors will lose everything.
There will also be a tsunami of litigation, as dumbfounded investors try to
get their money back, claiming to have been deceived by the sales
people who sold them the products. In Australia, some councils are
already suing the now-defunct Lehman Brothers, and litigation funder, IMF
Australia, has been studying synthetic CDOs for nine months preparing
for the storm.
But for the banks, it’s happy days. Suddenly, when the ninth reference
entity tips over, they will be flooded with capital. It’s possible they will
have so much new capital, they won’t know what to do with it.
This is entirely uncharted territory so it’s impossible to know what will
happen, but it is possible that the credit crunch will come to sudden and
complete end, like the passing of a tornado that has left devastation in its
wake, along with an eerie silence.
http://www.businessspectator.com.au/bs.nsf/Article/A-tsunami-of-hope-or-terror-LHRJP |
Here's an analysis of the situation by
the largest litigation funder in Australia
| Quote: | SYNTHETIC, SINGLE TRANCHE, NON SUB-PRIME,
COLLATERALIZED DEBT OBLIGATIONS REFERENCED
TO MULTIPLE, CORPORATE DEFAULTS
By Hugh McLernon - 23 September 2008
Introduction
1. As can be seen from the topic, this is an area infested with jargon.
2. The wizards who created financial derivatives commenced their work by
creating a completely new language for themselves and their investors.
3. In their new world, black has become white and up has become down.
The meaning of words has become what the author wants them to mean.
4. In this world, artifice reigns over substance. Remember the general
definition of “jargon” is “obscure and often pretentious language marked
by circumlocutions and long words”. By way of example I give you the
“bankruptcy remote vehicle” which is a topic to which I shall return.
5. Remember too, that the definition of “circumlocution” is “the use of an
unnecessarily large number of words to express an idea”.
6. In many CDO documents one needs to trawl through 15 to 20
definitions in order to understand a single phrase.
7. Warren Buffett is best known for his description of derivatives as
“weapons of mass financial destruction” but, around the same time as he
made that comment, he also pointed to the circumlocution of derivative
documentation – “and CDO squareds – I figured out on a CDO squared
you have to read 750,000 pages to understand the instruments that were
underneath it.”
8. Buffett seems to me to be a straight talker and the arch enemy of
circumlocution. I think he arrived at his weapon of mass financial
destruction comment, in large part, because of their complication.
9. The best known sub prime CDO in Australia is the Federation CDO
promoted by Lehman Brothers. I have tried to reverse engineer that CDO
and I can vouch for Buffett’s number. The federation CDO includes
tranches from forty different residential mortgage backed securities which
in turn sit above tens of thousands of residential mortgages. No one in
their right mind would try to carry out a full due diligence on such a
structure.
10. As will become apparent from what follows, I believe that jargon has
played its usual role in synthetic CDO’s ie.. to obfuscate and to leave the
reader in a position where he must rely, almost totally, upon the author.
My Premise
11. I will seek to persuade you that these synthetic CDOs are not financial
instruments at all but, are rather complicated gambling tickets.
12. My secondary premise is that these particular CDOs represent the
final chapter in the derivative story – history will see them as the last and
most artificial effort of the derivative engineers.
13. To make good these premises I will first outline the players and their
structures.
The Promoter
14. The promoters of synthetic CDOs are generally international
investment and trading banks. Not all of the banks but most of them -
including some here in Australia.
15. The banks essentially lend their reputation to the deal. Not even the
most sophisticated investor would read all of the documents involved in
any given synthetic CDO so the reputation of the promoter is paramount.
16. The promoter structures the CDO. It pays the bills.
17. All of the Wall Street investment banks and many others, including;
Royal Bank of Scotland, ANZ, Westpac, Barclays were involved as
promoters in these transactions.
18. The promoter employs the lawyers to prepare the documentation, the
spin doctors to spread the story and the muscle to ensure that regulators
did not intervene.
[SNIP]
120. It may turn out to be the case that the amount of CDS and CDO
issued during 2007 doubled from the previous year (which must mean
that 10’s of trillions of dollars of business were done in the area in 2007
alone) precisely for this reason.
121. These factors will make the rating agencies more and more
susceptible to claim from those who lost money during this process.
122. We do not know yet whether the banks set up back to back
arrangements with their synthetic CDO’s. i.e.. did they hold the principal
position so that they will get the major windfall which is about to occur or
did they pass that on to others in CDS transactions so that the bank
adopted a central position between both groups of investors.
123. If this occurred then the banks will not be the big winners from the
failure of the CDO’s- that benefit will have been passed on to the back to
back investors.
124. The banks will suffer however if investors at the front end are able
to upset their transactions and the bank is unable to avoid the back end
of the transaction.
125. No matter who are the winners and losers out of this mess it is a
debacle which will be with us for the next decade as the CDO & CDS
transactions come to their full term.
[SNIP]
Third and last update on diversification report.
Hugh McLernon 11/11/08
1. Our first three reports on this matter paint a gloomy and deteriorating
position.
2. It remains the case that all but 5 of the 32 companies reported upon
are likely, and in some cases certain, to fail in one way or another.
3. The 5 companies that should escape the financial disaster presently
engulfing all financial markets are: Credit Suisse, Goldman Sachs, JP
Morgan, Citigroup and UBS. There are some others that may escape.
4. The U.S regulators have done all (or perhaps, nearly all) in their power
to prevent these companies from defaulting – in many cases, they have
forced companies to be taken over by other, more robust, companies.
5. It may well be the case, however, that the problems are simply too
large and too entrenched to be capable of massage. Readers also need to
keep in mind that these are but 32 of some 6 or 7 hundred companies
which have been included in the default baskets of synthetic Australian
CDO’s.
Many of the other companies carry on business in the financial arena and
occupy the second ring out from the epicentre occupied by the 32
companies referred to in our earlier reports.
6. A new problem is now emerging – who will decide which companies
have failed and who will report upon their demise. Lehman Brothers is now
gone – it was one of the major promoters, and its interest in antipodean
CDO’s has no doubt waned.
7. This is our last report on this topic because the next six months will tell
the tale – there will either be sufficient company defaults to destroy the
value of all synthetic Australian CDO’s or the likelihood will be that the
CDO’s will limp on to maturity with partial, but not sufficient, defaults so
that their holders are paid out upon that maturity.
8. It is now apparent that fraud has been a hallmark of many of these
corporate failures. This being the case, it is impossible to say that the full
financial picture is available on all of the companies.
9. Company 1 – American International Group (Insurer) – in mid
September 2008 the US Government lent US$85billion to AIG. The loan
carries interest at about 12.5%. It is thought that most of the loan has
been drawn down. In return for the loan, the government received an
80% position in the company. Leading up to this point, the company
shares had fallen by 91% in the previous year. The shares are now
trading at US$2.11 (Document 2). Management has said that it will begin
selling assets as quickly as possible to clear the debt. There is serious
doubt as to whether the prices received for these assets will be sufficient
to clear the debt and it is likely that the company will eventually be wound
up. On October 7 Moody’s downgraded AIG from A3 to A2 and revised its
outlook on AIG to negative (Document 1). On 8 October 2008 the US
government agreed to advance a further US $38 billion in addition to the
US $85 billion (Document 3). AIG has been “bailed out” by the US
Government – it is not yet in default but may go into default if its asset
sales do not enable it to repay the US$123 Billion lent to it by the
government. As at 10 November 2008 the size of the bailout has grown to
US$150BN! (Document 4). It now appears that unless the US Government
fails then AIG will not fail.
10. Company 2 – AMBAC (Bond Insurer) – at the time of our last report
on 27 June 2008, AMBAC was trading at US$1.61. Over the following
months the share price went as high as US$9.00 but has now fallen back
to $US1.67 (Document 6). In mid September, Moody’s placed the ratings
of AMBAC and its subsidiaries on review for a downgrade. This was based
on the ongoing losses arising from the sub-prime crisis (Document 5). The
AMBAC share price is heading towards zero as it continues to
haemorrhage money from the sub-prime crisis. It is likely to fail. On 6
October 2008, the company announced a write-down of $401Million for
the month of August. If this company suffers a further downgrading,
which appears likely, then it will not have sufficient funds to cover its
obligations (Document 5). Ambac lost $2.43BN in the third quarter
(Document 7) and had its rating cut by 4 steps to BAAA1 by Moody’s
(Document 8 ). Ambac is alleging fraud by others (Document 9) and is
itself being sued. (Document 9A). Short of a government bailout this
company seems terminal.
11. Company 3 – Bear Stearns (Investment Bank) – This company was
taken over by JP Morgan. If JP Morgan were to fail, then this would
probably constitute two defaults, ie: one for JP Morgan and one for Bear
Stearns. (refer company 16 below). Bear Sterns has been purchased by
JP Morgan- it has not defaulted on its debt – its future is now dependant on
the future of JP Morgan.
12. Company 4 – Beazer (Home Builder) – Since our last report this
company along with all of the other major US home builders under went a
revival.
From about mid July 2008 through to mid September 2008 the share price
appreciated from around $3.50 to around $9. By 10 November 2008 the
price had fallen back to $2.88. (Document 10). In the meantime Beazer
was under investigation by the Securities and Exchange Commission in
relation to its accounting procedures. The SEC alleges that the company
fraudulently altered its earnings and it improperly recorded $100 million
of revenue in 2006. (Document 11). This company is likely to fail.
13. Company 5 - Centex (Home Builder) - This company saw its share price
rise from $12 in mid July to around $18 in mid September. By 10
November 2008 it had fallen to $10.85. (Document 12). On 8 October
2008 Moody’s downgraded all of Centex’s rating because of problems the
company was having with its credit. (Document 13)......
FULL PDF AT:
http://www.imf.com.au/get_pdf.asp?docid=CDO_10 |
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Minds are like parachutes.
They only function when open. |
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stallion4
Joined: 26 May 2006
Posts: 692
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| Posted: Sun Feb 08, 2009 12:39 pm Post subject: |
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Latest update by that rascal Reinhardt...
http://www.enterprisecorruption.com/
| Quote: | hey oprah.. they’re gettin’ ready for the big day
look out below..
If yer gonna do it..
..
do it right
***
6 4 6
and btw..
i already got 7 and 8 and maybe 9 (still researching;-)
***
the market is NOT speculative
the market..
is
timed
(any questions?)
i am still taking applications for anyone who wishes to work for reinhardt’s new start-up
***
reinhardt is also taking applications for a few new girlfriends
(will be at food 101 on Roswell Road tonight)
reading a Wall-Street Journal.. (of course)
p.s.
anybody want to buy a broken clock that’s right 6 times a day?
or
the world’s largest whistle?
***
folks interested in learning about “~r”.. could try the link below
http://www.wiredpirate.com/forum/index.php?sid=2c7365d4107896f605a17b0cf4fde365
there is a bunch of reading to do between now and tomorrow
good luck with that;-)
r
**
joke:
what did 5 say to 6?
“seven ate nine”
“just another enron”
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stallion4
Joined: 26 May 2006
Posts: 692
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| Posted: Sun Feb 08, 2009 12:55 pm Post subject: |
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FYI...
Friday Gold closed at 911.40
Silver closed at 13.13
What could it mean?
911= Emergency
40 = 40th day of the year 2/9/9
13:13 = 1:13 pm
Monday, February 9, 2009 at 1:13pm will something happen that triggers the collapse?
_________________
"Someday a real rain will come and wash all this scum off the streets." ~Travis Bickle
Last edited by stallion4 on Sun Feb 08, 2009 3:01 pm; edited 1 time in total |
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stallion4
Joined: 26 May 2006
Posts: 692
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| Posted: Sun Feb 08, 2009 1:44 pm Post subject: |
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Update from Mike...
Don't Panic - UK Weekend Headlines
http://www.youtube.com/watch?v=yOm70jJwwsk
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stallion4
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Posts: 692
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stallion4
Joined: 26 May 2006
Posts: 692
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| Posted: Mon Feb 09, 2009 12:18 pm Post subject: |
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Don't Panic - Feb 9 is Here!
http://www.youtube.com/watch?v=jdNbVXWya2w
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