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| Subject: Rumor has it all the big banks are going down and taing our money with them. | |
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Author: Stephen |
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Date Posted: 07:15:24 03/15/08 Sat In reply to: jw 's message, "Re: I heard or read somewhere that Carlyle moved their HQ to thier Dubai office?" on 19:57:35 03/11/08 Tue Sounds like history repeating. Only this time, the news is coming from the New York Times. > Tuesday the fed bailed out predetory lenders by >somehow trading thier subprime bonds for federal >credit. Why don't they just give the homeowners loans >directly, instead of bailing out predetory business >crooks? > > The stock maret soared in spite of continued record >high energy prices. The irrationality of this is that >not only did banks and mortgage lenders go up, but >every sector of the economy rose except for health >care. Most importantly, the transportation stocks >went up, now that is somewhat stupid, the federal bail >out will not help them, but the continued rise in oil >prices will directly hurt them. This rally will not >last. There is a history of attempts to pump up the >stock market during crashes, sometimes they are open >about it, like J.P. morgan's buying of stock during >the 29' crash or various government and private >institutions buying stock after 9/11. It this case, i >dought it will work, we have 2 events that by >themselves would cause significant recessions, the >real estate crash and the inflation crisis. > > Fed chairman bernanke once proposed pumping up the >economy by dropping money from helicoptors, now he is >dropping money on predetory capitalists from airbus >380 cargo planes! > >> >>href="http://www.turkishdailynews.com.tr/article.php?e >n >>ewsid=59610">http://www.turkishdailynews.com.tr/articl >e >>.php?enewsid=59610 >> >>One wonders if they are running for cover or what. >> >>Also, can't help but notice that stock markets and >>bonds both declined over 1% today, Monday, and not a >>word on the news about it. >> >>>Looks like our good friends at the carlyle group are >>>in some financial hot water. I checked wikipedia on >>>carlyle group, it is claimed they have 75 billion in >>>assets, liquidation of 16 billion should give dick >>>chaney a pin prick. >>> >>> Send in the arab and chinese clowns! >>> >>>Carlyle Tries to Hold Off Lenders >>>By JANE WARDELL – 2 hours ago >>> >>>LONDON (AP) — Carlyle Capital Corp. Ltd is in talks >>>with creditors to prevent the liquidation of some $16 >>>billion in securities, the listed mortgage-bond fund >>>said Monday. >>> >>>Carlyle Capital shook financial markets last week >>>after missing margin calls from banks on its $21.7 >>>billion portfolio of residential mortgage-backed >>>bonds. It said some $5 billion in securities held as >>>collateral may have already been sold. >>> >>>The fund, an affiliate of the U.S.-based private >>>equity firm Carlyle Group, warned that if it fails to >>>reach an agreement with remaining lenders, all of its >>>securities may be liquidated. >>> >>>"While these talks continue, the company has >discussed >>>and requested a standstill agreement whereby its >>>lenders would refrain from foreclosing and >liquidating >>>their collateral, and we are awaiting responses," the >>>fund said in a statement. >>> >>>The trouble at Carlyle Capital has raised fears that >>>their assets will flood the market, further >depressing >>>prices on fixed-income securities. The securities >have >>>dropped sharply in recent weeks as banks pull back on >>>lending to funds and investment vehicles, leading to >>>forced asset sales. >>> >>>Shares in the fund, which trade on Euronext >Amsterdam, >>>were suspended Friday. The stock fell nearly 60 >>>percent to $5 Thursday when Carlyle Capital revealed >>>it had failed to meet margin calls with four banks >the >>>day before. >>> >>>Shares will not be reactivated until Dutch stock >>>markets watchdog AFM receives more information from >>>Carlyle Capital, said Paul van Dijk, a spokesman for >>>the regulator. >>> >>>On Monday, Carlyle Capital said it had received more >>>than $400 million in margin calls. >>> >>>The company leveraged its $670 million equity 32 >times >>>to finance a $21.7 billion portfolio of AAA-rated >>>residential mortgage-backed securities issued by U.S. >>>housing agencies Freddie Mac and Fannie Mae. >>> >>>To do this, it enters into repurchase agreements with >>>banks, in which it posts the mortgage securities as >>>collateral in exchange for cash. >>> >>>If the value of the security held as collateral >falls, >>>the lender has the right to ask for more collateral — >>>a "margin call" — to secure the loan. If the borrower >>>does not meet the margin call, the lender may sell >the >>>security. >>> >>>"Due to recent turmoil in the market for >>>mortgage-backed securities, the company's lenders >have >>>significantly reduced the amount they are willing to >>>lend against the company's portfolio," Carlyle >Capital >>>on Monday. >>> >>>The fund is managed by a unit of Washington, >>>D.C.-based Carlyle Group, which is one of the world's >>>largest private-equity firms with $76 billion in >>>assets under management. >>> >>>Initially launched as a private fund in 2006, it was >>>floated on Euronext Amsterdam last July, selling >>>shares at $19 each. >>> >>>Within weeks of the listing, it was forced to tap >>>Carlyle Group for $200 million in emergency funding >>>and sold a $900 million loan portfolio at a loss to >>>help meet margin calls. >>> >>>AP Business Writer Toby Sterling in Amsterdam >>>contributed to this report. >>> >>> >>>>Thank you for taking the time to clarify this for >me. >>>>I know you know this stuff. >>>> >>>>Good luck in the future. Something tells me we can >>all >>>>use a little luck right now. >>>> >>>>> One of the scariest bits of news is that food >>>>>supplies are extremely low now, as your article >>says, >>>>>wheat supplies are the lowest level in 60 years, >and >>>>>there were several billion fewer mouths to feed >>>then, >>>>>also china was not converting from a largely plant >>>>>based diet to mc donnalds cheese burgers. There >are >>>>>also other reasons for the run up in all >>commodities, >>>>>the collapse of the dollar has an exagerated effect >>>on >>>>>commodities prices, along with the lack of decent >>>>>investment opportunities. Because stock markets >are >>>>>failing, real estate is failing, and the US >>>government >>>>>is keeping interest rates artificially low, well >>>below >>>>>the rate of inflation, "money" is driving up the >>cost >>>>>of commodities. Rich people and institutions know >>>>>that people must consume commodities, so just like >>>>>they threw their money at stocks and real estate >and >>>>>created bubbles, today they throw their money at >>>>>commodities and create another bubble, they become >>>>>rich and we all suffer. When there was a stock >>>market >>>>>bubble in the 90's, it generally did not hurt the >>>>>average person. The real estate bubble hurt many >>>>>people who needed to buy homes, they were forced to >>>>>buy homes at artificially high prices because >>instead >>>>>of america building a real economy, greenspan and >>>bush >>>>>perpetuated a real estate bubble to keep the >economy >>>>>growing for a few more years. now that the real >>>>>estate bubble has popped, the commodities bubble is >>>>>hurting everyone (except those who trade it), >>>>>inflation is surging (except for workers wages, of >>>>>course), and our economy is collapsing. >>>>> >>>>> Notice that every time the fed indicates it will >>>>>lower interest rates or does, commodities prices >>>surge >>>>>higher, and have reached staggering hieghts. The >>fed >>>>>is not solving the real estate problem because so >>>many >>>>>americans do not have the financial means anymore >to >>>>>buy homes even with the artificially low interest >>>>>rates the fed offers, but the fed hurts everyone >>with >>>>>the extraordinary high inflation, they are causing >>>our >>>>>economy to collapse. >>>>> >>>>> >>>>> There are some thing government can do to ease >>the >>>>>current crisis. First, raise the interest rates >>back >>>>>to where they were last spring, and commodities >>>prices >>>>>will correct rapidly, it will save us alot of >>money. >>>>>Second, postpone the ethonal fuel program except >for >>>>>use as a clean air additive, to replace mtbe. >>Third, >>>>>the government should help homeowners with >sub-prime >>>>>mortgages who have a generally good record of >>>payments >>>>>get regular mortgages, which will keep their rates >>>low >>>>>even with rising interest rates. If the banks do >>not >>>>>want to give these people prime loans, the >>government >>>>>should give it to them, they have proven there >>>ability >>>>>to make the payments, there is no reason they >should >>>>>be locked into very high interest rates anymore, >and >>>>>it could save our economy. I would also add to >this >>>>>that the government should rapidly accelerate and >>>>>increase various energy efficiency laws that were >>>>>recently passed, which would guarentee significant >>>>>reduction in our consumption of imported oil in the >>>>>comming decade. >>>>> >>>>> Here in new york city, we used to be able to >>watch >>>>>100 baseball games a year on free television for >>each >>>>>team, mets and yankees. Over the years, the cable >>>>>companies bought the rights to the games, and now >>>>>there are almost no baseball games broadcast on >free >>>>>television. Why do we now have to pay for baseball >>>>>games we used to get for free? The cable companies >>>>>knew that they could buy the rights to the games >and >>>>>charge us money, and the sports "fanatics" would >pay >>>>>for what they used to get for free. The question >>is, >>>>>why do people willingly pay for something that they >>>>>used to get for free? Because they have no back >>>bone, >>>>>they are not willing to fight back, that's why >there >>>>>are called sports "fanatics", or fans, because they >>>>>will sacrifice everything for their team. >>>>> >>>>> The same consumer fanaticism of the baseball fan >>>>>exists in all areas of the economy. Americans >>>believe >>>>>in predetory capitalism, until they see their world >>>>>collapsing, as it is now. We spend increasing >>>amounts >>>>>of money to maintain our lifestyle, we refuse to >>>>>change our ways, and we refuse to use the >facilities >>>>>of government to remedy the failures of our >>predetory >>>>>capitalist system. The economic collapse is going >>to >>>>>be very interesting in this election year. One big >>>>>difference between 29' and now is that 29 was after >>>an >>>>>election, this time we can change the government as >>>>>the crash gets underway. >>>>> >>>>> Keep an eye on the storage levels of grains, >>there >>>>>is a very high potential for spring flooding in the >>>>>mid west this year, there are some similarities to >>>the >>>>>way the 1993 event began, if we have major crop >>>>>failures in the midwest now we will be in for a >very >>>>>rough time. >>>>> >>>>> For excellent commentary on the current >>situation, >>>>>listen to the tom hartman show on air america, this >>>>>guy really understands what is going on, and what >>>>>affects us, he exposes the lies of the economic >>>>>cheerleaders. >>>>> >>>>> >>>>>>Why the price of wheat has doubled in the last >>>>month? >>>>>> >>>>>> >>>>>>href="http://www.csmonitor.com/2008/0227/p01s05-us >e >>c >>>. >>>>h >>>>>t >>>>>>ml">http://www.csmonitor.com/2008/0227/p01s05-usec >. >>h >>>t >>>>m >>>>>l >>>>>> >>>>>> >>>>>>Of course with the increased oil cost going >through >>>>>>the cealing, corporate takeover of agriculture, >and >>>>>>the price of wheat doubling, people will be going >>>>>>hungry in America. >>>>>> >>>>>>The NY Time also said that the county has lost >>>>>>somthing like 4.5 million jobs since Bush took >>>>office? >>>>>>Does that seem right? That's over 2% of te labor >>>>>>force! >>>>>> >>>>>>>The powers that be are trying to scapegoat the >>>>>>>sub-prime crises, but oil and general inflation >>are >>>>a >>>>>>>much bigger problem, most of us do not have sub >>>>prime >>>>>>>mortgages. Every time the fed lowers interest >>>>rates, >>>>>>>the price of oil and other commodities surges, >>they >>>>>>>are fueling inflation like crazy, and >accelerating >>>>>the >>>>>>>collapse of the american economy, bush is >fiddling >>>>>>>while america's economy collapses. >>>>>>> >>>>>>> It is a shame that someone like mc cain got >>lost >>>>>in >>>>>>>the republican party, he seems to be a generally >>>>>>>honorable man, but we need to recover from the >>>>>>>catastrophe the republicans have made in the last >>7 >>>>>>>years, mc cain is not the man for that job. >>>>>>> >>>>>>> Btw, the dollar is approaching a 50% loss in >>>>value >>>>>>>against the euro, such a collapse in the value of >>a >>>>>>>currency is typical of a third world country! >>>>>>> >>>>>>>>Ya, and McCain getting Bush's endorsement was >the >>>>>>kiss >>>>>>>>of death. >>>>>>>> >>>>>>>>I think people have pretty much figured this out >>>>>>>>already. That is why McCain is already a lame >>>dog. >>>>>>>> >>>>>>>> >>>>>>>>>A dem, of course. So there's a second >>>>consolation; >>>>>>>>>it's gonna be hung squarely around bush's neck >>>>>where >>>>>>>>>it belongs. >>>>>>>>> >>>>>>>>>>I think the Bush rape of the US economy has >>>>>reached >>>>>>>>>>the breaking point. >>>>>>>>>> >>>>>>>>>>The only consolation is that we saw this >>coming. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| I have read the same thing about the banks . | Bev | 10:57:51 03/15/08 Sat |