Tue Nov 6 23:51:00 UTC 2007
This is the beginning of the end.
Brace yourself.
Full Version: Tue Nov 6 23:51:00 Utc 2007
TIMBER !!!
QUOTE (cgnao @ Nov 6 2007, 11:52 PM) 
Tue Nov 6 23:51:00 UTC 2007
This is the beginning of the end.
Brace yourself.
This is the beginning of the end.
Brace yourself.
What torpedo is this and how long have we got ? Why is 23.51 significant ?
QUOTE (mikefluk @ Nov 6 2007, 11:55 PM)
What torpedo is this and how long have we got ? Why is 23.51 significant ?
Its the time he posted.
QUOTE (mikefluk @ Nov 6 2007, 11:55 PM)
What torpedo is this and how long have we got ? Why is 23.51 significant ?
GET DOWN THAT MAN !!!!
QUOTE (mikefluk @ Nov 7 2007, 12:55 AM)
What torpedo is this and how long have we got ? Why is 23.51 significant ?
November 6, 2007 6:05 p.m.
General Motors Corp. said Tuesday it will book a $39 billion noncash charge in the third quarter as it establishes a valuation allowance and reduces certain net deferred tax assets to $0 in order to be in compliance with federal accounting rules.
Nov. 6 (Bloomberg) -- Citigroup Inc., the largest U.S. bank by assets, provided $7.6 billion of emergency financing to the seven structured investment vehicles it runs after they were unable to repay maturing debt.
Nov. 6 (Bloomberg) -- Sachsen Funding 1 Ltd., a $2.2 billion structured investment vehicle set up by Landesbank Sachsen Girozentrale, failed to convince investors to approve a planned refinancing.
Well its 9 minutes before mid night - but will mid night ever arrive!
DIVE ! DIVE ! DIVE !!
QUOTE (MRMX9 @ Nov 6 2007, 11:58 PM)
Well its 9 minutes before mid night - but will mid night ever arrive!
INCOMING !!!
QUOTE (cgnao @ Nov 6 2007, 11:58 PM)
Nov. 6 (Bloomberg) -- Sachsen Funding 1 Ltd., a $2.2 billion structured investment vehicle set up by Landesbank Sachsen Girozentrale, failed to convince investors to approve a planned refinancing.
Forced selling? Need to digg out my Bavarian curses: "Jo, Kruzifix un' Saxnhaxn!"
Das Boot!
.
ST
.
ST
Latest from the Wantagate saga may help to explain the seriousness of the current situation:
http://www.worldreports.org/news/91_entire_citibank_boar
http://www.worldreports.org/news/91_entire_citibank_boar
Sachsen Funding could start a forced sell-off and further mayhem in mortgage bonds. GM could start a serious derivatives problem related to stocks (not mortgages).
QUOTE (cgnao @ Nov 6 2007, 11:52 PM)
Tue Nov 6 23:51:00 UTC 2007
This is the beginning of the end.
Brace yourself.
This is the beginning of the end.
Brace yourself.
While we're waiting for the bang, can you tell us why you're using a decorative pork rib frill for your avatar?
QUOTE (xeouialp @ Nov 7 2007, 12:15 AM)
While we're waiting for the bang, can you tell us why you're using a decorative pork rib frill for your avatar?
lol ....(not bad for this late in the afternoon)
Quick! Call the RSPB! That torp's heading straight for the Black Swan!
On a more serious note...
Is the GM news specifically related to GMAC, or is it to deal with GM's own crud? $39bn is a very unpleasent number indeed.
On a more serious note...
Is the GM news specifically related to GMAC, or is it to deal with GM's own crud? $39bn is a very unpleasent number indeed.
QUOTE (Moo @ Nov 7 2007, 12:29 AM)
Quick! Call the RSPB! That torp's heading straight for the Black Swan!
On a more serious note...
Is the GM news specifically related to GMAC, or is it to deal with GM's own crud? $39bn is a very unpleasent number indeed.
On a more serious note...
Is the GM news specifically related to GMAC, or is it to deal with GM's own crud? $39bn is a very unpleasent number indeed.
The number of billions are getting bigger.
Larry Kudlow was just on TV in the US asking a panel: Why is there a bubble in the Euro, Gold, Oil and the Chinese stock market? Duh!
QUOTE (Tony2007 @ Nov 7 2007, 12:10 AM)
Latest from the Wantagate saga may help to explain the seriousness of the current situation:
http://www.worldreports.org/news/91_entire_citibank_boar
http://www.worldreports.org/news/91_entire_citibank_boar
Seriously l am trying...
QUOTE
ENTIRE CITIBANK BOARD BELIEVED TO HAVE BEEN ARRESTED
PROVOST MARSHAL MAY ARREST THREE U.S. PRESIDENTS TOO
Tuesday 6 November 2007 04:28
U.S. MARINES AND AIR FORCE DRAFTED IN TO ASSIST AS NECESSARY
SOME 3,000 BANKERS AND OTHERS BEING TAKEN INTO CUSTODY
NINE AIRCRAFT ARE BEING FILLED WITH PRISONERS
PROVOST MARSHAL TO TAKE OVER CITIBANK AND MAKE THE PAYMENT
BRITISH CITIBANK EMPLOYEES FLYING TO NEW YORK
TO ASSIST THE GENERAL WITH BANKING OPERATIONS
PROVOST MARSHAL MAY ARREST THREE U.S. PRESIDENTS TOO
Tuesday 6 November 2007 04:28
U.S. MARINES AND AIR FORCE DRAFTED IN TO ASSIST AS NECESSARY
SOME 3,000 BANKERS AND OTHERS BEING TAKEN INTO CUSTODY
NINE AIRCRAFT ARE BEING FILLED WITH PRISONERS
PROVOST MARSHAL TO TAKE OVER CITIBANK AND MAKE THE PAYMENT
BRITISH CITIBANK EMPLOYEES FLYING TO NEW YORK
TO ASSIST THE GENERAL WITH BANKING OPERATIONS
Is it like a parallel dimension with some sort of news rift with ours?
QUOTE (DabHand @ Nov 7 2007, 12:40 AM)
Seriously l am trying...
Is it like a parallel dimension with some sort of news rift with ours?
Is it like a parallel dimension with some sort of news rift with ours?
Well 3,000 bankers down - I expect there are tens of thousands more who deserve locking up. If only it were true!
QUOTE (DabHand @ Nov 7 2007, 12:40 AM)
Is it like a parallel dimension with some sort of news rift with ours?
worldreports.org - mmm... it would be funny if I didn't think they wanted to be taken seriously.
Question: How can GM write down 38 Billion dollars when the whole market cap of the company is only 20 Billion?
QUOTE (Pluto @ Nov 7 2007, 02:25 AM)
Question: How can GM write down 28 Billion dollars when the whole market cap of the company is only 20 Billion?
GM: the subprime car company.
QUOTE (cgnao @ Nov 7 2007, 01:25 AM)
GM: the subprime car company.
How many cars do would they have to sell to recoup 38 Billion?
Let's say they can absorb $500 per car. That is 76 Million Cars. Just 8 years production for every car they produce worldwide.
http://en.wikipedia.org/wiki/General_Motors
QUOTE (Pluto @ Nov 7 2007, 01:29 AM)
How many cars do would they have to sell to recoup 38 Billion?
Let's say they can absorb $500 per car. That is 76 Million Cars.
Hmm..that's not so bad.
Let's say they can absorb $500 per car. That is 76 Million Cars.
Hmm..that's not so bad.
Afaik every car GM/ford makes they sell at a loss anyway. Its only their giant pension funds and other financial meddlings that turn a profit.
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