Comments on Fund My Mutual Fund: And Here We Go....

FNM and FRE down ~40% intraday on Friday. Looking...

2008-07-14T08:17:00.000-04:00

FNM and FRE down ~40% intraday on Friday. Looking at the futures shows they both could be up ~40% today. I wonder who capitalized on that opportunity.

link to Barchart Banks - Southeast http://www2.bar...

2008-07-13T22:07:00.000-04:00

link to Barchart Banks - Southeast http://www2.barchart.com/sectors.asp?sec=banks~-~southeast.sec&level=2&title=Banks+%2d+Southeast

sorted by relative strength

The stream of cash in this area never ends. Makes...

2008-07-13T21:41:00.000-04:00

The stream of cash in this area never ends. Makes me want to puke. I hate not being able to short for the fear that the government uses our own tax payer money to shoot my own foot. At the same time, going long betting that they shoot me in the foot, seems just as stupid.

hrs, 1000+ banks went down in S&L crisis.S&L crisi...

2008-07-13T21:21:00.000-04:00

hrs, 1000+ banks went down in S&L crisis.

S&L crisis will look like child's play compared to this.

I pointed this out to readers in spring but can't find the post quickly so I'll point this link out...

FDIC quietly hiring 50% extra staff (most retired) for wave of future bank failures.
240->360 people

http://tinyurl.com/ysllua

Gonna need more in my opinion.
Again, I am surprised gold is not rocketing on both inflation and the paper money creation that will be needed to keep this farce going as capital is destroyed left and right the next 24 months.

But, I guess we have tons of capital in the Middle East and Asia so its more location of capital rather than availability.

United States of Suprime should be putting on quite a show in next 24 months. IndyMac will just be the pregame IMO.

Mark, others - very interesting two articles by Br...

2008-07-13T20:59:00.000-04:00

Mark, others - very interesting two articles by Brett Steenbarger on "How many IndyMacs are out there" and "The Geographic Distibution of Troubled Banks".

The croix is how to play; sold half of SKF into the peaks Fri to reduce exposure; and bought some UYG calls as hedge; one of them will have to go up

cheers

Mark - you were less than 30 minutes too early; fi...

2008-07-13T20:51:00.000-04:00

Mark - you were less than 30 minutes too early; first published at 6:27 pm -

U.S. plan to save Fannie and Freddie

Paulson and Bernanke proposal would give mortgage finance giants bigger line of credit with Treasury and open NY Federal Reserve lending window. [and Treasury can/may take an equity position in each]