iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,433 Blog Posts

There Will Be Blood

Watch yourself.

Developing…

UPDATE: The entire redneck state of Oklahoma has been banned, on all iBC blogs—except the PG and Wood. You can thank “Scum Bucket” for that.

The infamous iBC purge of 2008 aka “The New Mariel Boatlift” has begun.

Developing…

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49 comments

  1. BOOMER

    am i banned from posting in the PG? cant upload pics. gives an error to try back later. been this way for a week.

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  2. Dogwood

    Blood in the market or in the comments?

    Or both?

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  3. I drink your milkshake
    I drink your milkshake

    http://www.slashfilm.com/2008/02/24/i-drink-your-milkshake-on-snl/
    yes…

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  4. fetus

    I’d love to watch myself developing but I don’t have any fucking eyes!

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  5. Mars and Ares

    Fly must be referring to http://www.atimes.com/atimes/Middle_East/JE28Ak01.html

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  6. Mars and Ares

    or perhaps, he’s referring to:

    May 30, 2008

    China Orders Strike Against US For Catastrophic Earthquake

    By: Sorcha Faal, as reported to her Western Subscribers

    Russian Foreign Ministry reports are stating today the Prime Minister Putin’s ‘sudden’ diplomatic trip to France was made at the behest of China’s President Hu in order to ‘warn’ the European Union not to become involved with the US following what is widely expected to be a ‘retaliatory strike’ against the United States, and who the Chinese military has blamed for the catastrophic May 12th earthquake that has killed nearly 90,000 human beings…

    Chinese and Russian Military scientists, these reports say, are concurring with Canadian researcher, and former Asia-Pacific Bureau Chief of Forbes Magazine, Benjamin Fulford, who in a very disturbing video released from his Japanese offices to the American public, details how the United States attacked China by the firing of a 90 Million Volt Shockwave from the Americans High Frequency Active Auroral Research Program (HAARP) facilities in Alaska…

    So powerful was this Shockwave, Britain’s Times Online News Service is reporting that the entire atmosphere over the Chinese earthquake zone became mysteriously changed 30 minutes prior to the 8…

    Russian scientists are further speculating that the United States strike against China was ‘exactly timed’ to coincide with the dangerous experiments ongoing at Large Hadron Collider for the European Organization for Nuclear Research (CERN), and which we had previously reported on in our May 13th report titled “CERN ‘Nailed Heart Of Earth’ With China Quake, Chilean Volcano” Russian Military Analysts note that though China’s Military has ordered its vast submarine fleet to ‘disperse’ throughout the Pacific Ocean, the Chinese ‘attack’ against the United States would, most likely, take a form of economic warfare instead of an actual clashing of forces…

    More disturbing, however, in these reports is China’s urging of both Syria and Turkey not to allow more water into mighty rivers of the Euphrates and Tigris, which the Iraqis are warning are running dry due to the severe drought in that war-torn Nation…

    The importance of this latest move by China is the newly signed Defense Pact signed between Iran and Syria which would allow Chinese Military Forces permission to use Iranian territory to come to the aid of Syria…

    It should be further noted that the Christian Bibles New Testament Book of Revelations (Chapter 16, Verse 12) prophesied that the Euphrates will dry up in preparation for the Battle of Armageddon and would be crossed by an Eastern Army of 200 million soldiers, of which in our World today only China is able to field and have the ability to reach by land alone…

    As the United States and China battle for their very survival in a World becoming increasing volatile due to the rapidly growing shortages of both food and fuel, one does indeed wonder if the End Times are now upon us all…

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  7. Juice

    For those interested in Jesse Livermore; his book is online

    http://www.mypivots.com/articles/booktext.aspx?bookname=Reminiscences%20of%20a%20Stock%20Operator

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  8. ZenProfit

    Juice:

    The MyPivot book list:

    http://www.mypivots.com/books.aspx

    is almost as impressive as the iBC Gunners Memorial Lending Library:

    http://www.ibankcoin.com/library.php

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  9. HAARP 101

    HAARP Project Minimize

    Excerpt from the FIGU Bulletin No. 13 (Vol. 4), January 1998 (English translation: February 1998)

    “HAARP” is the abbreviation for “High-frequency Active Auroral Research Project”. The name of this American project camouflages the fact that it has the potential for being a greater catastrophe for mankind than the creation of the atomic bomb. The truth of the matter is that the HAARP installation can be used to wage a science-fiction-type battle. We are dealing here with a reckless experiment. Under the guise of the harmless-sounding name of “HAARP”, the American government is planning to bombard the sky with energy-rays from a vast installation of antennas. These energy-rays will then be reflected back to Earth from the ionosphere as electric waves of an extremely low frequency (ELF). This process is capable of transforming these ELF waves into a very insidious weapon for:

    1. These ELF vibrations are able to penetrate the brains of people and animals if the vibrations are aimed in their direction. This will not only immobilize the victims preventing them from performing any movement or act of defense, but will also render them insane as well. A useful tool for the military, these waves can also penetrate walls of brick and steel.
    2. ELF frequencies improve radio contact and reception, even those within thick bunkers and atomic submarines.
    3. ELF vibrations can penetrate the Earth’s surface and detect hidden bunkers.
    4. ELF waves can be used to track down and pinpoint missiles, airplanes and other flying craft even on the other side of the globe.
    5. ELF frequencies can entirely block electronic devices and radio waves of the enemy.

    These capabilities present, however, merely one facet of HAARP’s technology. Possible side-effects that are just as frightening must also be considered. The fact is that, to date, no one completely understands how the ionosphere will react when it is impacted by these energy-rays. We must bear in mind that the ionosphere is very fragile. Together with the ozone layer, it protects the planet Earth and all life forms from the deadly rays of outer space. It is definitely possible that the additional energy-beams emitted by the HAARP program will not only disturb but actually destroy this sensitive system and the protective ozone layer.

    Of course, the various military groups and their scientists refuse to acknowledge this danger as they cheerfully assume that nothing is going to happen. Consequently, they are proceeding with the project despite the warnings and, by the year 2003 there will be 180 antennas that will initiate this madness. Testing is in progress at present with approximately 60 completed antennas in operation. At the foothills of Alaska’s mountain range, a forest of antennas is being built as a test site for radio warfare. Here is how it is supposed to work:

    Above the ozone layer lies the fragile ionosphere, a gaseous stratum enriched with electric particles called ions. Scientists intend to heat up this ionosphere by using HAARP’s powerful antennas so that bundled, high-frequency radio waves can be shot into designated areas of the ionosphere. In turn, this will create artificially-curved ion clouds which can function much like optical lenses. These lenses will be used to reflect the low frequency ELF waves. These vibrations can be used to determine the fix of an airplane, for example, but they are also useful for other disturbing and deadly objectives: They can be aimed at other regions on the Earth’s surface, depending on the angle at which the radio frequencies are reflected back from the ion lenses.

    A long time ago, Mars lost its atmosphere. The same fate could soon threaten the Earth…the result of irresponsible and deranged Americans who must also take the blame for the most destructive insanity of World War II – the Atomic Bomb. The U.S. Government is trying to pacify everyone by claiming that HAARP represents a purely scientific experiment but the truth is that HAARP camouflages an enormous ray-weapon project. The antennas constitute a gigantic, new potential advantage for the military elite while at the same time they present an immense potential danger for the entire planet and all of its life forms. The obligatory environmental study for the HAARP project warns of the possibility of changes to the ionosphere that could influence the ozone layer, among other things. Interestingly enough, this study was not done by the American Environmental Protection Agency (EPA), but rather by the U.S. Air Force and the U.S. Navy.

    It should not come as a surprise, then, that in reality, the American military intends bombarding the ozone layer and the ionosphere with this ray weapon. After all, the Americans have always wanted to be the greatest and most powerful nation on Earth. However, it is self-evident that blame cannot be placed on those American people who are against this program and who have sincere, positive human intentions. They are likewise not responsible for certain sickening elements who have the say, as well as the fact that other people are bound to jump on that group’s bandwagon.

    In spite of all this, the question remains why such a risk is being knowingly undertaken with this kind of uncontrollable chain reaction within the confines of both the ozone layer and the ionosphere? The answer is twofold:

    * Job Creation for the military, as well as participating large and small businesses
    * HAARP is a money-generating entity which has inherent power from the implementation of its weaponry

    HAARP technology can unleash a force which cannot even be remotely matched by any potential adversary. Until now, all nuclear attack scenarios included several nuclear explosive devices with high electromagnetic pulses (EMP) which were detonated at high altitudes. Using HAARP as a weapon, the same result can be achieved even without atomic energy.

    However, HAARP is capable of doing much more, for it can penetrate deep below the Earth’s surface where, for example, oil deposits or the previously-mentioned secret bunkers can be located. The fact that certain types of radiation are not only dangerous but actually deadly for human beings, plants and animals is simply accepted without scruples. Although HAARP can be utilized as a super-radar device and, simultaneously, as a destructive device against flying craft, there exists no justification for jeopardizing the lives of all humanity, animals and plants, indeed the very existence of the planet. This fact seems irrelevant to the military elite, large corporation executives and the people with power within the U.S. government. On the contrary, these groups actually seem pleased they are neither violating agreements to discontinue nuclear testing (which hardly anyone follows anyway), nor the anti-ballistic defense systems or disarmament. They are furthermore pleased their criminal endeavors have escaped worldwide notice until now because their activities have been kept nearly a total secret and because the general public is simply not paying attention to this situation.

    Ray-guns and microwave wars are almost a reality yet man cannot afford to lose the ozone layer or any other stratum enveloping the world, let alone his own life and that of the plants and animals. Humanity cannot afford to jab away at the atmosphere with gigantic giga-watt devices that gouge the Earth’s surrounding atmospheres, let alone to disturb, even destroy their harmony. At the very least, the wounds inflicted to these atmospheres through this insanity will never heal and will put all Earthly life into jeopardy, prehaps forever.

    Presently, the HAARP installation is only being used for modest testing yet climatic disturbances are already occurring worldwide which can no longer be disregarded. These facts do not seem to greatly trouble those people, nor their followers, who are in charge of the HAARP program. They even deny that natural disasters now occurring on a global scale have anything to do with their dangerous experiments. The Pleiadians/Plejarans insist, however, that there is indeed a direct link between the environmental pollution and destruction, and the global warming. Even though the HAARP tests are still at a low level, the program is already triggering floods, volcanic eruptions, earthquakes and stormy weather conditions.

    Airplane pilots have been instructed to give the installation a wide berth, thus the operation may already be in full swing, or will be sometime in 1998. Just one giga-watt of power from the unit is sufficient to burn a hole into the ionosphere. But at full output, the ray-weapon will be increased to 100 giga-watts…100 billion watts.

    It is a fact that this new ray-weapon will influence and damage the consciousness of human beings and animals and, of course, the entire gene pool of terrestrial animals, plants and humans. Likewise, the entire highly-sensitive energy-field of Earth could be manipulated to the point where the poles are displaced.

    The bombardment of the ionosphere presents many dangerous, destructive and deadly possibilities but those in charge do not give this matter even a second thought. As a result, they are forging ahead at full speed with this secret armament project to blast holes through the ozone and heat up the ionosphere.

    In 1945, American scientists, under the mandate of the U.S. government and military, detonated the first atomic bomb in recent history. Later on, they admitted they had failed to take into account beforehand what could really happen during the explosion; whether, perhaps, a nuclear chain reaction could have resulted which would incinerate the entire atmosphere of Earth, even the entire planet. Their posture now is the same as it was with the atom bomb tests, and the chance of a disaster with HAARP remains 50:50. The experiment today is being conducted with the same odds as the detonation of The Bomb in 1945.

    Even though our worst fears did not materialize then because “everything went well”, other dreadful scenarios resulted from these early experiments. New bombs were built and dropped upon residential areas killing hundreds of thousands of people. Untold numbers of people were mutilated by burns and many descendants of the radioactively-contaminated victims grew up resembling monsters rather than humans. Furthermore, huge territories were radioactively infected worldwide and have since become uninhabitable for many thousands of years. The contamination resulted from the testing of atomic bombs as well as their commercial use.

    As if this were not bad enough, atomic materials being used for peaceful purposes have claimed untold numbers of victims throughout the entire world by contamination through radiation, either accidentally, carelessly or with criminal intent. In these matters, America tops the list of offenders because the power-hungry people of that nation have sanctioned secret research criminally using radioactive treatment, medication etc., on thousands of innocent people in numerous villages and towns. Unfortunately, they are not the only country doing this. While these facts have become at least partially common knowledge by now, they have yet to be fully uncovered. This type of research demonstrates such a lack of human compassion that we question whether they were, or still are, simply frightful, bloodthirsty and irresponsible monsters? The atom bomb, which has been and continues to be used for commercial purposes as a “peaceful source of atomic energy”, has induced unending pain, misery and irreparable worldwide harm. The destruction continues.

    In spite of this, U.S. scientists are presently conducting and secretly planning a new atrocity against humanity, a highly controversial series of tests which will launch a new, futuristic, destructive and deadly weapon system. This system may be as destructive and deadly as the atom bomb to the entire planet and all its life forms including mankind. The immediate result as well as the long-term results of this madness has the same uncertainty as that of 1945 when the first atomic bomb was exploded. Indeed, some shocked scientists want nothing to do with the entire matter. They have the opinion that life on Earth in its present form and the existence of the planet are being jeopardized once again by the actions of power-hungry people, particularly by the U.S. government and military.

    The HAARP program is considered one of the greatest threats to the ozone layer by those scientists who still possess a sense of responsibility. Moreover, the HAARP program can affect many aspects on Earth including its outer spheres and all life forms. The possibilities range form skin cancer to alterations in the climatic zones, from violent storms and droughts to floods, earthquakes and volcanic eruptions. It is obvious that all of this is a daily part of living even now, brought about by the insanity of overpopulation and its consequences like, for example, the destruction and pollution of our environment, resulting global warming and the shifting of weight in the Earth’s upper layer.

    However, ongoing HAARP experiments have been to blame for some time now for climatic changes which, in turn, have triggered worldwide earthquakes, volcanic eruptions, floods and environmental catastrophes. Those in charge of the HAARP program deny, of course, that such testing is generating this turmoil. But the Pleiadians/Plejarans categorically state that this is the case. They further contend that HAARP will cause so much destruction, pain, suffering and devastation in the future that neither nature nor any living thing will ever be able to return to a normal state of equilibrium. The long-term effects will negatively influence everything on Earth, and recovery will all but be impossible.

    For quite some time now, a worldwide hunt for ozone destroyers such as fluorochlorocarbons has been in progress, and rightly so. Yet American industry and government have obstructed many environmental issues and seem to be indifferent to the advancement and protection of life in general. This is proven by America’s adherence to capital punishment which is glorified by many of its citizens and mercilessly used. The same arbitrary disregard for human welfare by its power-elite and their followers is exemplified by their acquisition of the new HAARP weaponry. Without consulting any other human inhabitants of this planet, their military is blasting dangerous holes into the fragile ionosphere and is thereby endangering all terrestrial life. These powerful people are taking it upon themselves to make these crucial decisions without concern for anything else other than their damned power-madness and megalomania. The ionosphere will indeed be damaged and partly dissolved by the HAARP program, thereby allowing dangerous, unimpeded cosmic radiation to enter the Earth’s atmosphere. This alone proves HAARP to be an irresponsible project. Such insanity can be seen in the annals of human history but it is routinely hidden from the people. In 1958, for instance, three atom bombs were detonated in the atmosphere to influence the weather. Within two years following this stupid action, an entire series of climatic catastrophes resulted. Three hundred and fifty thousand copper needles, each approcimately 1-2 cm in length, were fired into the ionosphere in 1961. The result was that the Earth avenged herself by an earthquake in Alaska that measured 8.5 on the Richter scale, while in Chile a large portion of the coastline slid into the ocean.

    In 1963, the Americans and the USSR detonated three hundred megaton atomic bombs in the stratosphere and ripped gigantic holes into the ozone layer. These are only a few of the many criminal atrocities carried out against mankind by the American and former USSR government officials. In truth, several dozen such crimes can be attributed to the Americans, Russians, French, Israelis, Chinese and others who pursue these same malicious goals.

    What HAARP can perpetrate is far worse than anything ever seen before. The threat originates from its location, 320 km (200 miles) northeast of Anchorage. In this northern Alaska solitude, a forest of antennas which will consist of 360 towers, 24 meters hight (72 ft), is being built from which the military will shoot bundled high-frequency rays into the ionosphere. In experimental form, this has been ongoing for some time now with the result that more climatic and storm-related catastrophes, earthquakes and volcanic eruptions have increasingly been happening. The object of the experiments is to heat and partially displace the protective layer surrounding our planet. In the process, giant “lenses” are burnt into the ionosphere with the intent of bouncing bundled ELF waves back to Earth.

    Bernard Estlund, an irresponsible student of Nikola Tesla (1856-1943), prepared the scientific groundwork for HAARP. He patented his work in 1985 under the menacing title, “Method and Mechanism for Changing an Area of the Atmosphere, Ionosphere and/or the Magnetic Sphere of the Earth”. This project turned out to be global vandalism because immense amounts of energy with giga-watts of power are shot into the outer spheres of the Earth. The current impact and future effects on this planet and all life forms, human, animal and plant, cannot be estimated in any way whatsoever.

    A few years after his invention, Eastlund lost control of his patent when he developed financial problems. He stated that the antenna installation in Alaska is in reality a massive ray-gun, capable of destroying not only all communication networks but also missiles, airplanes, satellites and much more. He claims side-effects, both wanted and unwanted, include climatic catastrophes throughout the world or at least in some regions, and unrestricted deadly radiation against which there is no protection. The choice of locations for this deadly turmoil will lie in the hands of the irresponsible military and government officials and others. There is also the side-effect of the entrance of death-bringing radiations against which there is no defense.

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  10. BS

    i have to say….the price action this week was scary if you are a bull. the bulls just could not get anything of substance going. Friday’s close was awful and the 5 minute rally on Wed was pathetic. expect the dow to melt down to 12,000 if there is bad data

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  11. JP Morgan Ghost (Tesla's funder)
    JP Morgan Ghost (Tesla's funder)

    My boy Tesla never wanted to hurt anyone, but eventually I had him develop technology that could disable someone’s will, and make them susceptible to brainwash.
    He only did so because I convinced him that it would only be used on violent criminals who wanted destruction. So when he developed it and showed me how to use it, I used it on him, and brainwashed him to use his powers for my agenda.
    He said that he could make technology that was powerful enough to create an earthquake so large that it would crack the earth in half. I knew the military and federal reserve would not only bid hundreds of billions of dollars, just to test the thing.

    Then Tesla came up with some “free energy” project that could make FREE energy, and we’d never have a use for a single oil company. Naturally this would be unprofitable for me, and certainly wouldn’t last very long, so I wouldn’t fund him.

    Anyways Imagine you are all basically screwed right now, thanks the the fruits of Tesla’s labor, and my funding of him. But hey, despite the fall in financials, my company continues to do well… Funny, perhaps it’s because they received money from my patent.

    It’s a shame, Tesla could have developed something that would safely disable all weapons, literally protect the world with force fields, and give us all free energy to use that technology, if he only had money of his own. Instead he chose to work for money and all his funding was dependant upon me, the US government, and the Russian government, none of which worth trusting.
    And do you really think the US would test a detectible project that would cause an earthquake. More likely a “hidden hand” behind the US, which lives somewhere across the world. Or perhaps it was someone on the edge of Russia, who also may have the HAARP technology thanks to Tesla, and could easily divert the waves and frame the US. The U.S. isn’t the only power hungry government.

    MWHAHA, world domination, shall we play a game?

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  12. Masquito

    So is the fly going to ellaborate? Or would he rather just keep us guessing?

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  13. “The Fly” acts in strange and mysterious ways…..at least to peon bloggers.

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  14. JimH

    Update on WM and the great Arm-A meltdown….

    http://seekingalpha.com/article/79491-bring-on-the-alt-a-downgrades

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  15. Woodshedder

    WTF? Why are those assholes still allowed on my blog?

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  16. DEVILDOG

    Back to the March lows starting 6-2-08.

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  17. DEVILDOG

    Putin Calls U.S. `Frightening Monster,’ Urges French Solidarity

    By Henry Meyer

    May 31 (Bloomberg) — Russian Prime Minister Vladimir Putin compared the U.S. to a “frightening monster” and urged France to distance itself from its American ally.

    “How can one be such a shining example of democracy at home and a frightening monster abroad?” Putin said in an interview with French newspaper Le Monde transmitted live to journalists in Paris yesterday.

    Putin, speaking the day after meeting French President Nicolas Sarkozy, said the U.S. was creating “new Berlin Walls” in Europe by pushing the North Atlantic Treaty Organization to expand into ex-Soviet states Georgia and Ukraine.

    The Russian prime minister, who passed on the presidency earlier this month to his handpicked successor, Dmitry Medvedev, continues to set the foreign and domestic policy agenda. Under Putin’s eight-year presidency, Russia clashed with the U.S. and the European Union over matters such as NATO expansion and a planned U.S. missile-defense system in eastern Europe.

    “France, I hope, will continue to conduct an independent foreign policy,” said Putin, whose interview was embargoed until publication by Le Monde today. “This is in the nature of French people, they don’t want their country tied down, and any French leader will have to respect that.”

    The election of Medvedev, 42, a lawyer who has called for more dialogue between the East and West, has raised hopes of an eventual thaw. Still, Sarkozy decided to meet with Putin, breaking with the tradition of Group of Eight leaders of dealing with Russia at a presidential level, showing the 55-year-old former KGB colonel’s dominant influence.

    Presidential Power

    Under Russia’s constitution, the president is supposed to be solely responsible for foreign policy and has more formal authority than the prime minister, who can be fired by presidential decree and is charged with implementing Kremlin policies.

    Putin “remains the pre-eminent power” in Russia, said Michael Emerson, a former EU ambassador to Moscow and an analyst at the Centre for European Policy Studies in Brussels. “The EU has to deal with the people who are there, both of them.”

    Putin, who has threatened to point missiles at Ukraine should it host missile bases as a NATO member, said expanding the military alliance deeper into former Soviet territory risked a return to Cold War competition.

    “NATO expansion means drawing up new dividing lines in Europe, new Berlin Walls,” he said. “This time we can’t see them, but they’re no less dangerous.”

    Military Infrastructure

    Putin said Russia sees “military infrastructure coming closer to our borders,” and denounced the U.S. for seeking a “monopoly in world affairs.”

    Asked about the division of power between himself and Medvedev, Putin said that his successor had “the final word.”

    At the same time, the Russian premier slipped up by referring to himself as the president of Russia. French Prime Minister Francois Fillon at a press conference two days ago mistakenly called Putin the Russian president three times.

    Putin’s visit to France — a month before the country assumes the EU’s rotating presidency — came a week before Medvedev meets with German Chancellor Angela Merkel on his first Western European trip as Russia’s head of state.

    To contact the reporter on this story: Henry Meyer in Paris via the Moscow newsroom at [email protected].

    Last Updated: May 31, 2008 10:20 EDT

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  18. herctrader

    HAARP 101 has just been immobilized thanks to my manipulation of the ionosphere–You’re welcome

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  19. DEVILDOG

    Ambac & MBIA 7 levels below junk. Sounds about right. Can’t wait for the meltdown! Fuck the PPT.

    http://www.bloomberg.com/apps/news?pid=20601109&sid=arZMpwlTxBdo&refer=home

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  20. DEVILDOG

    GS down to at least $90 during the BEAR market. Odd no? Fuck Pau…pau…paul…paulson!

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  21. The Fly

    NUKE RUSSIA!

    Wood:

    All of the ‘assholes’ are allowed on your blog, because iBC is not interested in driving away readers, just redirecting them.

    “The Fly” is Cuba, circa 1980, and you are Florida.

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  22. Woodshedder

    Well, like the U.S., I’m going to cut the comments, and then send them back over to your blog.

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  23. hammer

    It appears that an internet version of the wet foot, dry foot policy is in order.

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  24. DEVILDOG

    Did a little research today. JPM to $3. JEF to $1 or bankrupt. Good…I can’t stand that stretched face Art Hogan. Every time he lies his face gets more stretched kinda like Pinocchio and his nose.

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  25. DEVILDOG

    US and European debt markets flash new warning signals

    By Ambrose Evans-Pritchard, International Business Editor
    Last Updated: 12:38am BST 30/05/2008

    The debt markets in the US and Europe have begun to flash warning signals yet again, raising fears that the global credit crisis could be entering another turbulent phase.

    The cost of insuring against default on the bonds of Lehman Brothers, Merrill Lynch and other big banks and brokerages has surged over the last two weeks, threatening to reach the stress levels seen before the Bear Stearns debacle. Spreads on inter-bank Libor and Euribor rates in Europe are back near record levels.

    Credit default swaps (CDS) on Lehman debt have risen from around 130 in late April to 247, while Merrill debt has spiked to 196. Most analysts had thought the coast was clear for such broker dealers after the US Federal Reserve invoked an emergency clause in March to let them borrow directly from its lending window.
    But there are now concerns that the Fed itself may be exhausting its $800bn (£399bn) stock of assets. It has swapped almost $300bn of 10-year Treasuries for questionable mortgage debt, and provided Term Auction Credit of $130bn.

    “The steep rise in swap spreads this week is ominous,” said John Hussman, head of the Hussman Funds. “The deterioration is in stark contrast to what investors have come to hope since March.”

    Lehman Brothers took writedowns of just $200m on its $6.5bn portfolio of sub-prime debt in the first quarter even though a quarter of the securities had “junk” ratings, typically worth a fraction of face value.

    Willem Sels, a credit analyst at Dresdner Kleinwort, said the banks are beginning to face waves of defaults on credit cards, car loans, and now corporate loans. “We believe we’re entering Phase II. The liquidity crisis has eased a little, but the real credit losses are accelerating. The worst is yet to come,” he said.

    The jump in corporate bankruptcies has not yet been picked up by the usual indicators, which tend to lag the market, lulling investors into a false sense of security. The true losses are already known to specialists in the business, said Mr Sels.

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  26. Will Rogers ghost
    Will Rogers ghost

    a). Fuck Oklahoma.

    b). The month-end asshattery markup/markdown was particularly entertaining.

    c). Multiple sucker moves in solar this week. Setting up for something big.

    d). Fuck Oklahoma.

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  27. ottnott

    Been to Oklahoma only once, for one night.

    Some bleeping idiot left my gas tank cap on the roof of the car after filling it up that night. It rolled off the roof onto the freeway.

    Fortunately, Oklahoma City has 24-hr auto parts stores.

    I made the bleeping idiot pay for the new cap out of his own pocket. Told him he was an idiot, too. Repeatedly.

    Those damn self-serve stations will let any fool primate pump gas.

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  28. Woodshedder

    Exactly right. Those OK fuckers will wind up right here on this here blog. Not mine.

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  29. The Fly

    BREAKING:

    iBC Army defeated the Egregious State of Oklahoma, in internet warfare.

    See Jeremy for details.

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  30. PoorOkie

    All this Okie bashing is fucking with my self-esteem.

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  31. gappingandyapping
    gappingandyapping

    I have a hard time believing all of these people are from Oklahoma. The IQ level of people in Oklahoma would not draw them to this blog.

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  32. gappingandyapping
    gappingandyapping

    Jeremy can you please limit the length of posts, my ctrl+end buttons are getting worn out.

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  33. Rogers & Hammerstein
    Rogers & Hammerstein

    The Fly is trying to ruin our record run on Broadway.

    We shall bury him beneath egregious corn pricing.

    Don’t fuck with Oklahoma, homey.

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  34. JakeGint

    What in the pretty little surrey with a fringe on top hell is going on here?

    Did someone proclaim “Conspiracy Weekend” on iBC?

    I do like DD’s “JPM to $3” idea, though, and will check out this JEF idea on Monday. I have a friend who runs their equity desk, and I know they sort of “live and die” by the new issue market, which looks cancerous these days…

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  35. JakeGint

    Fly and/or Jeremy:

    Is there a reason why I can’t access the comments section via Crackberry anymore?

    I used to be able to, perhaps before all the “big changes” were put in place. Now I can just access the posts and headlines, but when I try to drill down to the comments, it usually gets hung up or says “script error.”

    Perhaps it’s the relative neanderthalaciousness of the Crackberry software, and I need to get one of those incredibly ghey iPhones.

    But I’d hate to do that, for several obvious reasons.

    _

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  36. Works fine on my Moto Q
    Works fine on my Moto Q

    I’ll look into it.

    -Jeremy

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  37. TraderCaddy

    So I am sitting in my room watching the Food Channel while at the NCAA golf championship and on Diners, Drive Ins and Dives Guy (the host) says some of the best burgers in America are in West Lafayette, Indiana near Purdue University ( I think it’s on Route 66). So I said to myself: “Hey that’s where I am.” So I went to try the Triple XXX Family Drive In. The meals are named after famous Purdue types like the Drew Brees, etc. I went with the Boilermaker Pete which was a double cheese burger with grilled onions. Good stuff. I asked where the porno was and I was told Triple XXX was the name of a root beer in the ’20s. Good root beer.

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  38. Steves Hand Jobs
    Steves Hand Jobs

    Jake, fuck blackberry, get a fucking iphone

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  39. Jakegint

    Working for the Crackberry now, thanks!

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  40. I think that “The Fly” is serious this time – that picture – it’s Vlad the Impaler – He is Fly’s kin along with Nikolai Tesla.

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  41. DoingaFavor

    RIG to crumble next week.

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  42. Q4

    What’s not going to crumble next week. Elevator down.

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  43. Sasquatch

    Bears will drink bulls milkshake.

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  44. Heebs eats Fly's for breakfast
    Heebs eats Fly's for breakfast

    The Heebs

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  45. JakeGint

    Good thing the press is letting us know when its time to sell commodities and buy dollars, huh Chivas?

    That’s helpful of them, no?

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  46. Bulah Ambeau

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