Thursday, August 27, 2009

The Fed stonewalls again

Regarding the release of the names of the institutions that received largess from the Federal Reserve, the Fed argued in court yesterday that "The institutions whose names and information would be disclosed will also suffer irreparable harm.”

Irreparable harm?

Didn't the FDIC just announce that 416 banks with $300 billion of assets are basically insolvent since those banks have failed the FDIC grading system?

You can get a Call report on the FDIC's website right here.

How will the release of the names of the institutions that got taxpayer money be any more damning than that?

Or is it just that some of the institutions that got money, were supposedly the ones that were "healthy?"


Anonymous said...

Man bears are dying over in AIG!

Palmoni said...

Totally!!! I've been playing this number with call options and it is printing $$

Who knows when these shorts will be completely taken out to pasture!

Look at this guy on realmoney complaining--tell me he's not on the wrong side!

Does anyone have an explanation other than day trading or the pending forgiveness of their debt to the taxpayer that would explain the $7 billion valuation of AIG's common equity? In either case, the SEC should be involved because if it's day trading investors are really going to get hurt and if it's pending news from the government that has leaked people should be going to jail.

Anonymous said...

Yeah, you think it's a bit late to get in on the action?? haha!!

Palmoni said...

What's the difference on AIG betwen 48 and 70 if it's solvent?

For market and momo players there is none.

Anonymous said...

C blew through 5. I just heard on CNBC that people can start buying C on margin, haha!

I think higher prices will attract more buyers. Just like lower prices attracted more sellers.

Anonymous said...

Palmoni, what are your current holdings?

Anonymous said...

APWR kicked our ass today : ) You holding that number? I'm in Sep calls so I'm probably getting out tomorrow.

Made up for it some with C but I had the Dec, not the Sep so didn't have all the leverage we could have.


palmoni said...

I'm holding APWR and will hold that until December or until I get a much higher price

Don't worry C is moving higher and the DEC calls will pay off --I bought a ton of the cheap Sept 5's on the Cramer sell-off so I better go and put out another bullish C story so the bears can say I'm engaging in a pump on a stock that trades a billion shares a day!!!