4 replies to this topic

[jawndissedi]

Fremont General owns Fremont Investment and Loan -- one of the subprime club's Big 5 and definitely too big to fail. The credit default swap market is already in a state of near-panic; look for this development to add fuel to the fire tomorrow. When the fit hits the shan, someone's gonna have to stay after school. And who do you suppose that might be? HINT: they used to be "bullish on America."

Fremont announcement

[tommyt]

whoa..I know a few people who work there...whoops

[Gary Smith]

Junk bonds were very accomodating today for those wanting to close positions after an almost continual daily, weekly, and monthly run of historic highs. Today's losses averaged a mere 0.30% to 0.40%. I suspect the trend persistency of this asset class will now be steadily down.

[greenie]

Countrywide stock is not acting so well either. What is the pecking order now - CFC, MER, WM, COF, GS, C, JPM ? The disease is spreading fast. After seeing India, I am confident some banks there will get completely wiped out. You cannot imagine how many banks popped up on small Calcutta streets that earlier had only sweet and garment shops. 30-40% of the billboards in the city have finance related ads - unbelievable.

Hope you got properly hedged against your Santa Barbara house. Good calls lately.


BTW, here is latest list of top 100 finance-related blogs, and our favorite one on macroeconomics (you know which) is not there. I consider it as a good omen


http://blog.valuewik...-finance-blogs/

[VolPivots]

No worries, the heliput should save the world markets....if they have enough printing capacity to stabilize the CDS market--it's grown to epic proportions.

http://stockcharts.com/c-sc/sc?s=$DJCDXNI&p=D&yr=1&mn=6&dy=0&i=p84135854287&a=94243116&r=8493.png

http://stockcharts.com/c-sc/sc?s=$ONE:$DJCDXEM&p=D&yr=1&mn=9&dy=0&i=p28281427590&a=94243113&r=8646.png

Edited by marketneutral, 28 February 2007 - 07:01 AM.