A group of people now own USA
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Originally posted by spade1:
Andrew, normally I read your posts and they often make sense, but you're senselessly bashing some people now.
Check these 2 youtube videos out. same video - 2 parts :
makes complete sense!
http://www.youtube.com/watch?v=NzvMh73WflQ
http://www.youtube.com/watch?v=3GxIUhd1pAk
As for your youtube links, the most sensational claims are that the US Federal government was in cahoots with Goldman Sacks.
This is like saying Temasek and the jinxed daughter in law was in cahoots with the bosses of Barclays (bought at 700 now 173.8;) Merrill Lynch, (bought around 30, now around 5) and so on.... to lose a hundred billion of Singaporeans' hard earned money to them.
You cannot say this sort of things without evidence and basis. Just because Temasek and the jinxed daughter in law of the cursed despot lost all that money, it could be "greed" "stupidity" "carelessness" "gambling addiction" and you cannot say that they were in cahoots to lose the money unless you have the evidence and facts to back you up.
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What you can say is, the despots should just deposit the money in Singaporeans CPF accounts instead of using the money to gamble in the financial markets.
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You are right and it have been since the days of John F Kennedy. There are some books written about this subject in the National Library but I am sorry I could not remember the title as it was many years back.
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"He said that " these things are such common knowledge" and a few posts down he says "I never know CDS is also under it ."!"
hmm, since when did i write "I never know CDS is also under it".
interesting.
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Originally posted by Daddy!!:
"He said that " these things are such common knowledge" and a few posts down he says "I never know CDS is also under it ."!"
hmm, since when did i write "I never know CDS is also under it".
interesting.
Are you trying to prove to everyone I am right that you are given to delusional imaginings?
Interesting!
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Originally posted by Mar.enzo:
my friend working in AIU its the the I.T. arm of AIG..got retrenched huhuuh
its sad because he is only quite new for the job..anyway i just invited him to have some swimming lessons.... for us to enjoy the retrenchment season hehehhe
Mar.enzo >> "for us" to enjoy the retrenchment seasonit means that you are retrenched too
what's that with the swimming lessons ?
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it is really so widely known that you are expected to know.
I think i am talking to a novice. sigh.
The white-hot furor over AIG's retention bonuses seems to have died down a bit. Last week the House of Representatives passed a watered-down version of the bill that was supposed to tax those payments out of existence. But AIG isn't leaving the bull's-eye anytime soon. The Government Accountability Office said on Mar. 31 that AIG should demand concessions from its trading partners and employees. On Apr. 2, deposed AIG Chief Executive Hank Greenberg paid a visit to Capitol Hill, blaming his successors for the company's failings and calling its government bailout a failure. And New York State Attorney General Andrew Cuomo is probing the $165 million bonus payments and the billions AIG transferred to such banks as Goldman Sachs (NYSE:GS - News) and Societe Generale (SOGN.PA).
Amid all this hubbub, AIG's employees plug away, trying to wind down the beleaguered company's remaining credit default swaps, which are basically insurance policies purchased against the default of various forms of debt.
So what's so hard about unwinding a CDS? And does it really take a financial rocket scientist, chained to a seat by a fat retention bonus? Or could it be done by some of the vast army of recently unemployed Wall Street workers?
Large, Complex Web of Derivatives
Part of the problem is that not only are the financial instruments themselves complicated, but they involve tangled relationships of companies and investors, each with their own interests. AIG owns $1.5 trillion in derivatives, including CDSs, interest rate swaps, and currency swaps, among others. And these trades overlap in a large web across all its companies. Since everyone knows that AIG needs to rip up its contracts, its partners are holding out for the best deal possible.
The nastiest, most complicated, and most controversial types of AIG's CDSs have largely been taken off the company's books. Those swaps were customized by the insurance company to protect financial institutions from default in illiquid pools of mortgage-backed securities, the now infamous collateralized debt obligations, or CDOs. When the value of the CDOs tanked and AIG's credit rating was cut, the insurance company was forced to pay billions of dollars in collateral to companies known as "counterparties" -- money it didn't have.
To exit the contracts, AIG used Federal Reserve and Treasury Dept. cash to pay the counterparties 43% on the dollar for the securities (which now reside on the Fed balance sheet as Maiden Lane III). Then the company paid off $26 billion in insurance on the same CDOs to Goldman Sachs ($5.6 billion) and Societe Generale ($6.9 billion), among others. This cost taxpayers $46 billion.
That's not the end of the story, unfortunately. AIG's remaining credit default swaps may not be as toxic. Many of the remaining swaps are, in fact, what the industry calls "plain vanilla" -- fairly standard, liquid contracts. But that doesn't mean they'll be easy to get rid of.
"Like You're Flying Blind in a 747"
There is no centralized market for derivatives, so AIG's traders in Wilton, Conn.; London; Paris; and Tokyo can't just look at a PC screen and see the current price, as a trader would do with a stock. Instead they look at the available data on such things as interest rates and the earnings of the companies whose debt is insured, and then use mathematical models to determine what they want to pay. Next they reach out to other traders to gauge what might be a reasonable price. At the same time, the trader has to figure out the overall impact the trade will have on AIG's book.
"It's like you're flying blind in a 747," says Marc Groz, a hedge-fund risk manager who now heads up risk management firm Topos. "You can only see what the instruments are telling you."
Because they are contracts between two parties, AIG's credit default swaps can't simply be sold. Some will expire on their own, like the $234 billion of swaps that are expected to come off the books in the next year and a half. Others will be terminated at the request of the owner. AIG can opt to let the contracts expire. But $34 billion worth of CDSs is set to run down over the next five -- or more -- years, which would seem to run counter to its avowed plan to wind the contracts down as quickly as possible. If AIG wants out, it will have to go back to the other side of those trades and negotiate an exit.
That won't be easy -- or cheap. CDSs are still trading, but the spreads -- the difference between what dealers are willing to pay to buy or sell -- have widened, making it more expensive to get out.
Needed: Steely Nerves and Keen Math
"The Street knows they have to unwind positions," says TABB Group's Kevin McPartland, an analyst who specializes in derivatives. "It gives AIG little pricing power."
Working those deals doesn't necessarily require the same hands that put them together in the first place. But it's not a task for just any newly minted MBA. Wall Street has largely abandoned the shoulder-to-shoulder battle of the exchange floor for a more formula-driven mode of trading. Steely nerves are still required, but so is an acumen for high-level math.
Such skill sets are not necessarily uncommon on Wall Street but they're still in demand, despite waves of industry layoffs.
"The vast majority of professionals at AIG are just doing their jobs," says Rob Sloan, head of U.S. financial services at Egon Zehnder. "And many could get jobs elsewhere."
AIG declined to make its employees available to walk through its swap-unwinding operations, which are conducted through the financial products unit known within the company as FP. The company also declined to say just how far down it has managed to cut the pile. "FP's employees have made tremendous progress unwinding FP's trading positions, business books and lowering its risk," AIG said in an e-mail. "Despite this progress, the risks in the books at FP are still large, and require the skills and professionalism of the traders, marketers and support functions."
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AIG has USD1.5 trillions of credit derivatives and caused such a huge havoc in the markets.
Do you know how big an exposure to credit derivatives that JP Morgan has presently?
It will scare the shit out of your pants.
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to prove the fact the Mr Yap is a novice who did not know that CDS is the reason behind AIG's down-fall, a well known fact.
Never mind that the reason people are riled up about AIG bonuses is because AIG had to be bailed out -- because it wrote too many credit default swaps to companies like Goldman Sachs
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Doesn't anyone knows that the Fed reserves are long long time ago privately owned ?
Now they are printing more and more money to cover up their Trillion of debt which will leads to the devaluation of USA money.
Guess who bought the bonds from USA - China and some other countries. When the money is devalued and so are the bonds.
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Originally posted by Daddy!!:
i remember someone here laughed at me for saying CDS is not the main reason for the crisis.
interesting.
In the quote above you say: "i remember someone here laughed at me for saying CDS is not the main reason for the crisis."
You said "CDS is not the main reason for the crisis"?
Are you trying to prove to everyone I am right that you are given to delusional imaginings?
Interesting!
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Originally posted by Daddy!!:
i remember someone here laughed at me for saying CDS is not the main reason for the crisis.
interesting.
Let's see if you can show us the post that you are referring to when you say "i remember someone here laughed at me for saying CDS is not the main reason for the crisis."
Are you trying to prove to everyone I am right that you are given to delusional imaginings?
Interesting!
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hello mr yap, please read my start post. it is written all over the page. it is such a commonly known fact which i expected you to know.
goondu king.
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twisting words will not save you from you embrassing yourself. You disputed that CDS is not the main reason behind AIG fall. now you want to twist words to make yourself look a bit better. This technique will not work this time round, because my starting post says it all. haha!
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Originally posted by Daddy!!:
hello mr yap, please read my start post. it is written all over the page. it is such a commonly known fact which i expected you to know.
goondu king.
Everytime someone asks you to produce evidence, you say crapz like... "it is written all over the page"... "everyone knows" and such nonsense.
Just admit that you are an idiot or else just say point us to the post that is "it is written all over the page"
Originally posted by Daddy!!:twisting words will not save you from you embrassing yourself. You disputed that CDS is not the main reason behind AIG fall. now you want to twist words to make yourself look a bit better. This technique will not work this time round, because my starting post says it all. haha!
I am embarassing myself or you are just an idiot that make claims and when challenged, make a bigger fool of yourself? What is so difficult for you to produce the evidence? This thread is only 3 pages long!
Let's see if you can show us the post that you are referring to when you say "i remember someone here laughed at me for saying CDS is not the main reason for the crisis."
Unless of course you cannot, proving that:
"you are given to delusional imaginings?"
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obviously a goondu like you wont appreciate the meaning of how big a US$30 trillion market is.
http://www.thestreet.com/story/10492600/3/the-30-trillion-market-no-one-cares-about.html
read lar. still asking for evidence like a naughty ignorant brat.
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Originally posted by Daddy!!:
obviously a goondu like you wont appreciate the meaning of how big a US$30 trillion market is.
http://www.thestreet.com/story/10492600/3/the-30-trillion-market-no-one-cares-about.html
read lar. still asking for evidence like a naughty ignorant brat.
eh don't try to escape this....
Let's see if you can show us the post that you are referring to when you say "i remember someone here laughed at me for saying CDS is not the main reason for the crisis."
Unless of course you cannot, proving that: "you are given to delusional imaginings"
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what talking you? since when i wrote "i remember someone here laughed at me for saying CDS is not the main reason for the crisis."
are you insane?
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btw, i do know of people who imagine singapore's government so powerful that they track him/her down. crazy indeed.
one even seeks her almighty God to help de-throne the govt.
it is really super crazy, just like our baby Yap mentality.
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Originally posted by Daddy!!:
what talking you? since when i wrote "i remember someone here laughed at me for saying CDS is not the main reason for the crisis."
are you insane?
OMG you do not even know what you wrote in this page and you ask if I am insane?
OMG you cannot even scroll up to see and confirm what you wrote in this very page and you ask if I am insane?
You need me to give you the link to what you wrote: "07 Apr `09, 9:39PM" and you call me insane?
It is proven, "you are given to delusional imaginings or you are a raving lunatic!!!!"
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there is nothing in there to make one understand what you are arguing about! OMG, Mr Yap is INCOHERENT !!
When you get so sensitive to others calling you insane, it proves that is your sore point! OMG. You are insane!
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Originally posted by Daddy!!:
there is nothing in there to make one understand what you are arguing about! OMG, Mr Yap is INCOHERENT !!
When you get so sensitive to others calling you insane, it proves that is your sore point! OMG. You are insane!
You can scream and shout like a mad dog but the fact still remains. You claimed ""i remember someone here laughed at me for saying CDS is not the main reason for the crisis."
Then you claim, "since when i wrote "i remember someone here laughed at me for saying CDS is not the main reason for the crisis." "
When I give you the proof that you said it: "07 Apr `09, 9:39PM"
You turn into a mad dog.
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an insane person will always try to defend himself. That is understandable. unfortunately, the defence is incomprehensible! haha!
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Originally posted by Daddy!!:
an insane person will always try to defend himself. That is understandable. unfortunately, the defence is incomprehensible! haha!
A mad dog like you will bark like mad and never produce any evidence of your claims.
I will always produce facts figure and evidence to back up what I say.
You are given to delusional imaginings and here are the proofs: