financial crisis

Here Comes De Hedge Funds

The CNBC screen flashed with massive losses of hedge funds. 18% down, 14% down, 20% down.....

It appears Dr. Doom is batting 1000 for he just predicted the hedge funds would be next to collapse.

While they are blaming a ban on short selling, one foreboding issue pops up:

Some pension funds and endowments that have relied on hedge funds for a stable, higher-than-average source of investment returns have been watching the unfolding trouble with alarm

The Independent has the scoop:

Redemptions means people are saying give me my money, I want out!

Game of Chicken Against the Imaginary Clock - BailOut May "Drag" until Next Week

Oh isn't that awful? I guess they want that $1 trillion dollars right now.

CNBC reports on the details.

Supposedly Democrats have the gall to ask that these bastards leveraging their companies 40:1 and pocketing the cash not have their multi-million dollar golden parachutes and that is the sticking point.

Here is what Democrats want, which appear to be the shares and unless I'm reading this wrong, nothing about paying good money for worthless debt.

Limitation on Authority

1. In General

The Secretary may not purchase, or make any commitment to purchase, any troubled asset unless the Secretary receives contingent shares in the financial institution from which such assets are to be purchased equal in value to the purchase price of the assets to be purchased.

2. Shares To Be Received

A.) Contingent Shares

i.) In General

$800 Billion Additional Dollars - RTC 2.0 - Shock and Awe

The original title just 24 hours ago was below. Now this price tag is $800 billion dollars.

$500 Billion Additional Dollars - RTC 2.0 - Shock and Awe

Bloomberg has well basically no details except they are negotiating that some of that money should go to the taxpayer. The taxpayer, just some???? We're paying for it assholes therefore it's ALL ours!

Negotiate? Unbelievable. This is in addition to the $900 billion dollars of the other bail out tally.