No, I’m not talking about RECORD falls in house prices …
Yesterday, S&P downgraded a huge bunch of so called Alt-A MORTGAGE- backed securities …
NEW YORK (Standard & Poor’s) May 28, 2008–Standard & Poor’s Ratings Services today lowered its ratings on 1,326 classes of U.S. residential mortgage-backed securities (RMBS) certificates issued in the first […]

Never in the history information was so freely available …
and never was it so stubbornly denied and ignored …
Everybody can be aware of the situation …
but nobody seems to care about, what is going on …
The financial industry became too big … not too big to fail …
as it finally will … but as big […]

WSJ has an article today, highlighting the not effective hedges of the financial industry due to use of uneffective hedging instruments as the ABX Indices.
Lehman is said to be the biggest victim … up to 2bln$ losses on bad hedges …
Another shoe to drop …
All these big-headed investment bankers need to go […]

The credit crunch is far from over, according to Oppenheimer & Co. banking analyst Meredith Whitney …
She sees consumers defaulting and an accumulation of these defaults will appear on the balance sheets of our “beloved banks” …
She is quoted as follows:
“Just as strained liquidity pushed so many small and mid-sized specialty finance companies to […]

Markets are hesitating to move away from the current level …
So far May hast produced twice the “1-day-squeeze-2-days-sell-pattern” …
Tomorrow will be interesting as we get our deserved weekly candle …
In the S&P, 1400 is the watershed … as last week opened here …
A close below 1400 would call for more downside … the financials […]

Or … in other words … much money … no brain
The facts … of today only …
-UBS … dissappointing figures … even after very weak expectations …
says … MORE WRITE OFFS … sees MONOLINE induced ones … AUTSCH
-FNM … worse than expected … but positive talk despite their view, housing market will […]

After the negative surprise of GE … especially after they mentioned that they got hit within the last 2 weeks of March … due to the Bear Stearns turmoil …
We start to understand, why the financials start to move on to clean up their act … at least a bit.
And it seems to be AWFUL!!!
Citibank […]

After only one week into Q2, markets look tired …
First earnings, which came in, really couldn’t excite traders or investors.
European equities getting sold on UK figures and a “NO CUT” rate outlook for main Europe.
US equities already under pressure as buying runs out … and that even before having tested the decisive 1395/1400 S&P level.
Market […]