The Fourteenth Banker Blog

May 7, 2010

Yesterday’s “Market”

Filed under: Uncategorized — thefourteenthbanker @ 12:46 PM

As this Zero Hedge post shows, there were big winners in the market yesterday.    They were the people that got ahead of the trade. They sold at the top, sold it down, bought at the bottom and on the way up.  This while all the small investors were at work, some desperately trying to log into their brokerage account or having their stop loss orders triggered or whatever.  Big fees were make yesterday.  Big spreads on bid/ask.  Big money.    Me?     I lost money.



  1. Heard on the street yesterday:

    There is a seperate arm of a TBTF called ‘xyz’ is making 100% loans to professionals (doctors, lawyers etc) for commercial buildings. 100% automatically means that if interest rates go up then it’s negative amortization, just like the home mortgages that everyone lost their shirt on. I’m assuming since it sounds like they’re using an SIV or SPV for these loans that it will be securitized and sold off (sounds familiar?)

    however, in case of home mortgages if a owner defaulted it went on their personal credit report and ruined their credit for a long time. In case of a doctor’s practice though if the going gets tough the practice goes bankrupt, the cash belonging to the good doc goes to Switzerland or Caymen Island.

    Everyone WINS!!! Except the pension fund or university fund. Wake up America!!!!

    Btw, if you are local bank trying to make a 20% down loan to the good doctor, go figure something else out because the good doctor’s business is taken. He would be a fool not to take a bargain like that!

    What was that vote in the Senate yesterday? 61 to 33 Brown Kaufman amendment to break up big banks voted down. Does anyone here still a believer in America being a Democracy? for the people, by the people, of the people – what a joke!!!!!

    Comment by Vocalbanker — May 7, 2010 @ 3:46 PM | Reply

    • What a joke indeed.

      Comment by SloSquez — May 8, 2010 @ 1:39 AM | Reply

  2. Uptick rule?

    Comment by lucyhoneychurch — May 7, 2010 @ 5:16 PM | Reply

  3. i don’t work in finance and have no sophisticated knowledge of the markets. but it is obvious to anyone with at least a modest intellect that the entire game is rigged. it has been rigged against some people all along and now that we are nearing the end of the road, the banksters and pols are simply flipping everyone the bird and no longer pretend to be doing what is right.

    the commercial RE market is also a ponzi scheme as are ALT A loans. but the main stream media is not willing to cast these borrowers in the same negative light that was used to characterize the working class and people of color who made bad decisions, some knowingly, some unknowingly.

    the bottom line is we are and have been getting ripped off for a long time. the banksters are stealing public and institutional money, which is the only reason they are being allowed to get away with it. the pols could care less, really.

    the media should stop describing the dire economic situation as being too complicated for anyone to understand, especially the feds who are supposed to understand it. these people should be fired if they cannot do their jobs properly. the media and the regulators are giving cover to the crooks. in reality, none of this is too complicated to understand. the banksters lied to investors and cooked their own books in order to steal money the world over. why are these people not in jail?

    most american’s will never have an opportunity to get ahead in this generation or in many future generations and no longer have much to lose. what we just witnessed in greece will happen here but on a much larger scale and with more dire consequences. unfortunately, most people do not realize that the power in this country does not reside in the office of the president.

    Comment by victoriap — May 8, 2010 @ 9:32 PM | Reply

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