S&P says the end of credit destruction is now in sight. Sure it is, there are only a few more investment banks left, it will be all over in a few months! The investment banks made more profits than any other industry, I believe including Big Oil & Gas, over the past 5 yrs. Now they are going bankrupt.
Leverage is not even a double-edged sword, it's a guillotine.
Are they going to nationalize BSC now?
Started by
arbman
, Mar 14 2008 04:29 PM
5 replies to this topic
#2
SemiBizz
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- Traders-Talk User
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Volume Dynamics Specialist
Posted 14 March 2008 - 04:39 PM
Let's face it those guys up in NYC have ruined it, the trading capital of the World is about to disintegrate and relocate.... where's it going now? Hong Kong, Dubai, London?
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#3
SemiBizz
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- Traders-Talk User
- 23,217 posts
Volume Dynamics Specialist
Posted 14 March 2008 - 04:45 PM
Good thing this liquidity problem is just isolated to BSC.... OOooops... 
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http://bigcharts.mar...&mocktick=1.gif
http://bigcharts.mar...&mocktick=1.gif
Edited by SemiBizz, 14 March 2008 - 04:48 PM.
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#4
mike123
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- Traders-Talk User
- 637 posts
Member
Posted 14 March 2008 - 05:06 PM
You are too optimistic. It is going to be worse. Tax payers are going to give them money to burn and they get to keep their jobs.
#5
humble1
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- Traders-Talk User
- 5,959 posts
Member
Posted 15 March 2008 - 02:21 AM
i saw that S&P "news" on CNBC, highlighted for two days.
right: the rating agencies and forecasting types have about as much credibility as schwarz and bear stearns.
#6
arbman
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- Traders-Talk User
- 19,504 posts
Quant
Posted 15 March 2008 - 03:33 AM
Not much faith left in the financial system, how much more tragic can it get? We all thought that the Fed was going to be able to bail out all these banks and they would continue with their reckless lending practices. But no, the market is smarter than that, the excess seems to be gone outside of RE and phony debt stuff now, but a lot of corporate value within the banking business will get destroyed also. If the destruction fully goes through its course, the ripple effects will obviously choke the fragile economy that was on life support and steroids...
