Amazing what $340,000,000,000 will buy

SLOSH Report

Add TIO and TAF for total of $340,000,000,000 today.

Roger, did you see that they are actually going to drain back $100B tomorrow?!?

I think tomorrow's graph is just what is on the books so far. It will change tomorrow. But it should be less than today's record.

I doubt they will keep them all. There was a big orchestrated squeeze today, the reversal came from somewhat an arbitrary level after stopping out the buyers around 1150, then the Fed released the information that they actually made another $50B repo available to the dealers at the middle of the day. Many short sellers assumed that the market was on its own after the 1150 support was broken. Then, they announced "the bullish news". I tend to think even yesterday's closing was a big manipulation since Fed intentionally drained $50B only to add back $100B today, these kind of monetary manipulations are quite inconsistent at the middle of such a market turmoil...

Edited by arbman, 18 September 2008 - 04:30 PM.

Appears to me they want to crush any and all market shorters if these indeed are manipulations targeted at the market and not just some gyrations associated with the liquidity (rather credit) crisis. they can't solve the root problem: at the heart of the system is a COMPLETE AND TOTAL LOSS OF TRUST. Nobody knows what toxic waste the other guy is holding. Nobody knows who to lend to or trade with. Counterparty's are freezing stiff. many want out of protections they made. Nobody wants to really insure anymore unless they can extract a heavy price. I hope this wipes out more unregulated "insured" bad bets. You just can't insure against each and every type of default there is. See that is also the problem. everybody was so darn greedy they wanted to have their cake and eat it too. They wanted the icing. they wanted it all ! WITH NO RISK. They found a highkly criminal way to pass on the risk to ALL OF THE BROADER society while keeping obscene LEVELS OF PROFIT for themselves. Not the institutions or the investors but the corrupt individuals and their managers and CEO's who were able to so enrich themselves and develop such a dsiregard for the law that they all thought they were invincible. ANd don't ever for a moment let these criminals kid you into beleiving they thought the risks (based on statistics) were low. They knew blow ups would happen, and they knew a lot could happen. But they also bet and knew the crap would be borne by someone other than tem, and they could get away with it all because its been perfectly LEGAL and totally unregulated. That is the immorality of this all. They knew deep in their hearts, and minds this all could happen, and they did it anyway. Someday this will come out. Its too soon for folks to reveal the nature of how this all unfolded. this makes gordon gecko look like a petty criminal or even michael milken a saint. They can bring down the entire world financial system. They all know it. they all knew the risks. and yet they did it anyway. GREED and hubris. Its truly a sad time in this world today. Many innocents will be destroyed, mostly the common man or woman who had nothing to do with any of this.

They have to ban quite a few of them permanently from the industry, put quite a few of them in jail and have quite a few of them pay from their personal assets. It has been way too long since there has been a real accountability. The real problem is the Fed and a few brokers who always encourage these people to take these risks, keep the shady balance sheets, hide and lie about them and run their exchanges like a casino with no real connection to the state of the economy. Unfortunately, they manage to get away by busting the short squeezes, money printing, dumping their liability on the taxpayers and so on over and over. You are either with them or against them, they work like a mob, they are not mafia because they don't actually kill people, of course it is probably the people didn't really threaten to take their privileges, banks and exchanges away. The first presidents who were opposed to the private central banking got murdered and the last president who tried to change the game also got killed, eventually including their family. You have to be very careful with who you are dealing against...