350zCommtech's Account Talk

[350zCommTech]

I like a man that can make a positive comment. Given all the overall weakness in recent reports, it's hard to see where inflationary pressures are going to come from in the future. The slowdown in the housing sector knocked off almost 1.2% from the GDP growth rate. If the dollar weakens some more perhaps the export numbers will beging to kick in for this quarter.

Birtchtree,

I just want to make money. Up days or down days, it doesn't matter. I'll admit that I sound like a bear most of the time, but I'm not a bear or a bull. I'm just being cautious due to the credit market crisis.

 

[350zCommTech]

Time to retest the lows.

S&P Lowers or May Cut $534 Billion of Subprime Debt (Update1)
By Jody Shenn
Jan. 30 (Bloomberg) -- Standard & Poor's said it cut or may reduce ratings of $534 billion of subprime-mortgage securities and collateralized debt obligations as default rates rise.

The downgrades may extend losses at the world's banks to more than $265 billion, S&P said.

The securities represent $270.1 billion, or 47 percent, of mortgage bonds rated between January 2006 and June 2007, S&P said today in a statement. The New York-based ratings company also said it may cut 572 CDOs valued at $263.9 billion.

The downgrades may increase losses at European, Asian and U.S. regional banks, credit unions and the 12 Federal Home Loan Banks, S&P said. Many of those banks haven't written down their subprime holdings and S&P said it will start reviewing their ratings.

``There could be rating actions for selected banks, especially for those that are thinly capitalized,'' S&P said.

Some of the largest global banks have already taken ``significant'' losses and they aren't likely to have more writedowns, S&P said.http://www.bloomberg.com/apps/news?pid=20601087&sid=abnXToHScnz0&refer=home

 

[350zCommTech]

MBIA says they expect to keep their AAA rating and the market shoots to the moon. This reminds of the day CFC said they expect to report a profit for the 4th qtr. CFC was lied and should go to prison. The CEO of MBIA will eventually go to prison.

From the market's reaction today. Everybody should believe whatever MBIA says and everything will be fine. The recession is canceled. BUY..BUY..BUY.

Even though everything is fine, the Fed will of course, continue to cut rates to support the markets. BUY...BUY...BUY...

We should also buy because Cramer said so. Just like back in 2000. How did that turn out?

Btw, WTF is a "Growth Recession"?

And also, why are bond yields down today, giving the F fund a 4-5 cent gain?

 

[fedgolfer]

GOOG missed, getting crushed AH.

 

[fedgolfer]

some people think its a buying op.

 

[350zCommTech]

GOOG missed, getting crushed AH.

LOL!!!!!!

I warned people about Google in the I fund thread this morning.

http://www.tsptalk.com/mb/showpost.php?p=146892&postcount=893

 

[350zCommTech]

I think S&P just downgraded MBIA. LOL!!!!!!!!!!!!!!!!!!!
:laugh::laugh::laugh:

Waiting for a link.


Big suckers rally today.........:laugh:

 

[fedgolfer]

must be rumor so far... no movement in SKF/XLF... MBI & ABK are up a bit AH.

 

[Removed1]

350Z any estimate for the I? Appreciate your knowledge and hard work.We will be in the Bear market for a while at least for few months.Since we cannot IFT more than 3X/month Do you have any special plan?
350Z, 12% and anybody who are interested since we will get bored with 3IFT a month , here some websites you can play with and find a lot of good deals and save a lot of money,my brother gave them to me and now my husband and my college son use also to upgrade our computers (he built all 3 of our computers) and upgrade them periodically.
www.dealcatcher.net
www.slickdeals.net
www.techdeals.net
sometimes We found a good deal(rebate coupon,dicount coupons...they are not listed under store's web site.Hope you all enjoy them.
Hope the I will be up tomorrow follows USM the I will be out.
Thanks everybody,
DN

 

[350zCommTech]

S&P downgraded FGIC

Financial Guaranty Loses AAA Rating at Standard & Poor's
By Romaine Bostick

Jan. 31 (Bloomberg) -- Financial Guaranty Insurance Co., the world's fourth-largest bond insurer, lost its AAA credit rating at Standard & Poor's.
Financial Guaranty, a unit of New York-based FGIC Corp., was cut two levels to AA, New York-based S&P said in a statement. The company had been AAA since at least 1984. Moody's Investors Service is also reevaluating its ratings.
To contact the reporter on this story: Romaine Bostick in Washington at rbostick@bloomberg.net
Last Updated: January 31, 2008 16:00 EST

http://www.bloomberg.com/apps/news?pid=20601087&sid=axpMRl.E4xP0&refer=home

 

[350zCommTech]

350Z any estimate for the I? Appreciate your knowledge and hard work.We will be in the Bear market for a while at least for few months.Since we cannot IFT more than 3X/month Do you have any special plan?
350Z, 12% and anybody who are interested since we will get bored with 3IFT a month , here some websites you can play with and find a lot of good deals and save a lot of money,my brother gave them to me and now my husband and my college son use also to upgrade our computers (he built all 3 of our computers) and upgrade them periodically.
www.dealcatcher.net
www.slickdeals.net
www.techdeals.net
sometimes We found a good deal(rebate coupon,dicount coupons...they are not listed under store's web site.Hope you all enjoy them.
Hope the I will be up tomorrow follows USM the I will be out.
Thanks everybody,
DN

Thanks zimmy,

I'm a computer geek also.

I fund estimate:http://www.tsptalk.com/mb/showpost.php?p=146985&postcount=897

 

[350zCommTech]

I guess I jumped the gun. I guess it's like Ben saying, we're willing and ready to downgrade".

FGIC loses "AAA" rating, MBIA may be cut

Thu Jan 31, 2008 4:27pm EST

EW YORK (Reuters) - Standard & Poor's on Thursday cut its "AAA" ratings on FGIC Corp's bond insurance arm, and placed its top ratings on the bond insurance arm of MBIA Inc. on review for downgrade.

The rating agency also said it may cut the "AAA" rating of XL Capital Assurance Inc, the bond insurance arm of Security Capital Assurance.http://www.reuters.com/article/bondsNews/idUSWNA816220080131

 

[350zCommTech]

This is the article that I was waiting for.

S&P Cuts FGIC's AAA Rating, Puts MBIA on Watch, Affirms Ambac
By Christine Richard

Jan. 31 (Bloomberg) -- Financial Guaranty Insurance Co., the world's fourth-largest bond insurer, lost its AAA credit rating at Standard & Poor's, which said it may cut the top ranking on MBIA Inc.'s insurance unit as well.

Security Capital Assurance's bond insurance and reinsurance subsidiaries were also placed under review for a downgrade by S&P, according to a statement today by the New York-based ratings company. Ambac Financial Group Inc.'s insurer unit had its AAA credit rating affirmed by S&P.

``This review is part of Standard & Poor's ongoing assessment of the potential subprime-related losses that these bond insurers might incur and how they are managing their capital positions to handle the losses,'' S&P said in the statement.
Financial Guaranty, a unit of New York-based FGIC Corp., was cut two levels to AA, S&P said. The company had been AAA since at least 1984.
MBIA, which announced earnings earlier today, told investors during a four-hour conference call that its capital raising plan is on track and it expected to maintain its AAA insurance rating.

``Although MBIA has succeeded in accessing $1.5 billion of additional capital, the magnitude of projected losses underscores our view that time is of the essence in the completion of capital-raising efforts,'' S&P said.

To contact the reporter on this story: Romaine Bostick in Washington at
rbostick@bloomberg.net
Last Updated: January 31, 2008 16:36 EST
http://www.bloomberg.com/apps/news?pid=20601087&sid=aDm9RPTxoUn0&refer=home

 

[Removed1]

IFT's are NOT limited yet. Continue to do as many as you want. All they can do is spank you with a letter telling you to stop doing it, and then make you do them via snail-mail. But even then you can still do as many as you want...via snail-mail. See the threads on what you can do to fight back and IFT limits, pledges being given for class action lawsuit.

Thanks Anidoc,what is your strategy for 3 IFTs/month???.
If we do IFT today,then they wait till few days later to put it in effect...at that time you probably want to do the opposite thing.This is a joke to do IFT by snail mail,I may have to buy and hold and diversify...or follow TSP leaders....Now they try to do everything to discourage us from IFT like last few days and even today they have been messing up with FV ...also with F fund yesterday(per 12%: Enron's math!!!)
I did sign the petition,may be I will visit the thread as you mention to see what else I can do.Thanks.
Are you still in I?
DN

 

[merlin]

I feel a little left out. I still haven't received my notice (not that I really want it). What give? Has everyone of the bad guys got their notice? Or did we slide thru the cracks?

 

[nnuut]

I feel a little left out. I still haven't received my notice (not that I really want it). What give? Has everyone of the bad guys got their notice? Or did we slide thru the cracks?

OK Merlin who did you pay off?:laugh:

 

[merlin]

Did you get yours? Maybe its lost in the mail. Since I work there.

 

[nnuut]

Did you get yours? Maybe its lost in the mail. Since I work there.

Yep got mine the other day, framed it and hung it on the wall. A reminder of how broken our government is, guess I'm part of it myself!

 

[350zCommTech]

Bond insurers and rating agencies will be next. Our whole Financial system has become a big pyramid scheme.

Massachusetts charges Merrill with fraud
By Greg Morcroft, MarketWatch
Last update: 1:47 p.m. EST Feb. 1, 2008

NEW YORK (MarketWatch) -- Massachusetts state authorities on Friday charged Merrill Lynch and Co Inc Friday with fraud and misrepresentation related to about $14 million worth of subprime securities it sold to the city of Springfield.

The complaint also charges Merrill agents Carl Kipper and Manuel Choy.
"This complaint is focused on Merrill Lynch's sale, through agents Kipper and Choy, of certain esoteric financial instruments known as collateralized debt obligations (CDOs) to the City of Springfield Massachusetts, which were unsuitable for the city and which, within months after the sale, became illiquid and lost almost all of their market value," the state said in its complaint.

The charges come a day after Merrill Lynch reimbursed the city for its investment, and related legal fees, and said it had determined that the securities were bought without explicit permission from the city.

The complaint concurred, and said, "The city did not authorize these specific CDO purchases in advance."

The complaint seeks a cease and desist order against the firm and its agents and, a return of any profits from the deals and an unspecified fine.
http://www.marketwatch.com/news/sto...0C-623B-4324-B2EB-5C5D3A0D1E8B}&dist=hplatest

 

[Silverbird]

Bond insurers and rating agencies will be next. Our whole Financial system has become a big pyramid scheme.

Well, it's actually heartening to me that it appears the financial system is not going to get away with claiming Caveat Empor when they sold something not as advertised and whose seal of approval was made of brass.