Joke of the month …
Today …
UBS cuts Bear Stearns price target to 2$ from 94$ …
SHAME ON THEM …

Looking at Axel Weber’s comments, telling the world, that there is NO possibility of an ECB rate cut in current inflationary surroundings,
yes, he is reliable, but who does remind him, that 1987 the German Bundesbank triggered the crash by hiking rates???
Sometimes you need flexibility
Even worse in its long term implications could prove, that […]

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Here UBS, the international example for destroying value through GREED …
Lost now around 76% of its gains since the market bottom of late 2002 start 2003 …
remember … DAX was below 2.300, the S&P below 900 …

Once upon a time there was a large UK based lender called Northern Rock …
It had a stupid business model and failed acordingly …
Everybody tried to find a buyer … Goldman Sachs advised the Government … but not even THEM wanted to make a decent bid
So the ashamed Government had to take […]

Reading the stories coming out after the SocGen MISMANAGEMENT … not a rogue trader … absolute reckless mismanagement made it happen … makes me sick!!!
Where were/are all the supervising authorities???
SEC? BaFin? Whatever their name is … WHERE THE HELL ARE YOU??? Or are you all stupid underpaid bastards??? Helpless or blind? Or just waiting for […]

Volatility at its best or at its worst? Dax opened with around 70 point GAP, the high was around 200 points higher als yesterday evening’s low and we sold off below that low, around 30 points below that, only to recover after that.
EXPIRATION DAY or Masochist’s Ball
General Electric figures came in good, […]

Situation:
U.S. Markets: Ended the week down up to 2% despite BoA taking over Countrywide Financial. Over the weekend speculation about new capital inflow for financial institutions from SWFs. Chinese and Arab buyers lining up, especially for Citibank and Merill Lynch. (pls. read my posts here) and here Rumours fly about the possible write offs, […]

Situation:
U.S. Markets: Waiting for FED decision … down a bit this morning on UBS write off (10 bln $) and capital increase (total of 19bln chf) which highlightes struggling financial sector … BUT … a lot of money seems to be available for the big banks who take action on their problems.
Asian Markets: Slightly down, […]