Monday, April 26, 2010

NEEL KASHKARI IS ALIVE! update I

He is BACK. On CNBC this morning as a guest host. After spending a year in the deep wilderness of the California Sierras, hiding out after spending years inside the belly of the beast, saving the system that he had helped to create. Kashkari was an investment banker at Goldman Sachs before Hank Paulson brought him to Treasury to assist him in taking down the Goldman competition. It was a daunting job, but Kashkari was sufficiently young and naive enough to be qualified. One night in the fall of 2008 as the financial world was unravelling around this yuppie pond scum dipchit, Uncle Hank brought Neel a job that Hank was just too busy to handle himself. Hank was busy taking apart some of GSs main competiion at the moment and selling off their raw flesh to some street dogs overseas. He picked Neel for the underling job of putting together the 800 billion dollar TARP bill. After all Neel had attended college and had worked at Goldman as a janitor for 8 months. Now remember the TARP was a lot of money but it paled to the 12 Trillion that was being put through the back door of the banks. They needed the public to be fixated on a number under a trillion while they used the other hand to pump in trillions while congress put the sideshow on.

As many of you know the officials were telling us publicly that all was going well and the financial system was stable, just as they are doing now. But now I listen to Kashkari on CNBC sans diarrhea and annorhexia saying that prior to the meltdown he was contemplating pulling money out of his money market to protect it so he could make house payments as the system was reaching a catastrophic collapse. Oh well....so much for public honesty. I guess now its ok to be straight with us. The problem this exercise in CONfidence has now...is just how far do you believe the system has been fixed. Sure.....Kashkari took his wife out of the Truckee woods before she left his lame ass. Now she can shop at Bloomingdales on his fat PIMPco salary and enjoy the fruits of his labors. But do you think he can really look in that mirror and say he saved the American Peoople. Or do you think he sees a schmuck that helpeded to pull off the biggest heist in economic history?

http://www.huffingtonpost.com/2009/12/07/iwashington-posti-profile_n_382437.html

update I Frank's tune gets post of the day. ANDS is exactly like this woman....and it can bring you up OR down...

http://www.youtube.com/watch?v=y7sEchp-n64

27 comments:

  1. We live in an insane world. It is like a horror movie when the sheriff arrives you think you are saved until he takes you back to the guy with the chainsaw.

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  2. Neil is full of it. I was watching when he made that statement and I almost barfed. Who the hell worries about making a mortgage payment when the financial world is coming down. Food, Water and Ammo are the first priorites.

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  3. Woodcarver .....did you catch your buy on GFI at 12.97 this morning.....hehehehe

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  4. "yuppie pond scum dipchit"

    You are way too kind.

    -C

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  5. now lets see if the head for resistance or they dive to support.......aint it a great game.....heh

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  6. Do any of you agree with the following CNAM post:
    http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49290164
    Kim

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  7. kliguy38, do you agree with the following?
    http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49290164
    Kim

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  8. Kim all. very possible. I will not pump CNAM here without a detailed understanding. COULD this play out....sure I own small position and will trade it on a technical basis.....so far it is in the proverbial crossroads.

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  9. Jim,

    DNDN is doing well!

    Joe

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  10. Kli, Pick ua real good position at 12.95. Thanks again for the help. Woodcarver

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  11. kim,

    kli is not a pumper, he is a dumper, heheeee!

    Joe

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  12. kim, see the picture below the hyena taking a big chunk is joe and the vulture sitting on his back is kli.-Jim

    http://www.sacrs.org.za/ecm21/gallery/hyena-and-whitebacked-vultures-01301147b.jpg

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  13. Good one Jim!

    Joe

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  14. I not too excited about CNAM either at the moment after the financing stunt pulled by the CEO. If the 2010 estimates work out there is a potential to run to 8.50 to 12 based on current PE valuation of the stock, and they don't stick it to traders with their insider games like in prior ramp ups (seriously doubt that). I give it 6 months max, more likely out when RSI and Stochs get above 80 on the daily, to play with when the 7.50 options come into play and another round of dilution and dumping. Plus I am not to optimistic about 2011 growth rates. Business is pretty solid for the remainder of the year, extra bonus is the Yuan is allowed to appreciate. There will be a violent short squeeze but not as dramatic as in the past with the dilution.

    You are better playing the ponies in FRE and FNM.

    S&P 1225 if fairly certain just a matter if there will be a slight pullback before or after.

    Gold stocks still look sick at the moment even with strong physical and dropping oil.

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  15. Red,

    I do not like the CNAM management, how come he did not try OR could not get the financing from a chinese bank with 5% interest rather than diluting his stock.

    Joe

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  16. Immred & Joe,

    CNAM 13/34 chart:

    http://stockcharts.com/h-sc/ui

    Would you care to give your input? appreciate very much as usual... bcbk

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  17. Chinese government is reigning in double digit growth by tightening, they are not giving out 5% loans. CEO an insiders have been capturing the spread after each spike for themselves, looks like they are financing the both the business and their stock options at investors and traders expense. You don't get those type of contracts they have by running a graft free operation. It's killing volume. Just my opinion is once you make a quick profit or minimize your losses, stay away from this in the longer term especially when the $7.50 options come into play.

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  18. OT (as reported by ZeroHedge): "Somali Pirates Disclose They Are A Subsidiary Of Goldman Sachs"

    http://www.zerohedge.com/article/somali-pirates-disclose-they-are-subsidiary-goldman-sachs

    Pls tell me this ain't so... bcbk

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  19. BTW, I think the GS/pirates story is the best one so far... lol... bcbk

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  20. Reuters) - Goldman Sachs Group Inc and Chief Executive Lloyd Blankfein were hit with a shareholder lawsuit claiming they hid key details about a risky transaction that resulted in civil fraud charges and a plummet in its stock price.

    Monday's lawsuit filed in Manhattan federal court accused Goldman of making materially false and misleading statements about an Abacus collateralized debt obligation tied to subprime mortgages that regulators say it created and marketed though it was designed to lose money.

    The complaint also alleged Goldman concealed its receipt of a Wells notice last July from the U.S. Securities and Exchange Commission, indicating potential civil charges over Abacus.

    According to the complaint, Goldman's actions caused its shares to trade at inflated levels. The shares fell 12.8 percent on April 16, wiping out more than $12 billion of value, after the SEC filed a civil fraud lawsuit against Goldman.

    "For anyone to say this type of development is not something a reasonable investor would not want to know simply does not hold water," said Darren Robbins, a partner at Robbins Geller Rudman & Dowd LLP, which filed the complaint.

    The lawsuit seeks class-action status and unspecified damages on behalf of potentially thousands of shareholders.

    Goldman did not immediately return a call seeking comment. Other executives named as defendants are Chief Operating Officer Gary Cohn and Chief Financial Officer David Viniar.

    Shares of Goldman were down $4.95, or 3.2 percent, at $152.44 in afternoon trading on the New York Stock Exchange.

    BLANKFEIN TO TESTIFY

    In its lawsuit -- which involved the same Abacus transaction -- the SEC accused Goldman of failing to tell investors that securities underlying Abacus were chosen by billionaire hedge fund investor John Paulson, who was betting that the securities would lose value.

    Paulson made about $1 billion on Abacus, roughly the amount other investors are believed to have lost. Goldman called the SEC allegations unfounded and Paulson has not been charged.

    Blankfein and Fabrice Tourre, a Goldman vice president believed to be the main creator of the Abacus transaction, are scheduled to testify before a Senate panel on Tuesday.

    Democrats are using the case to try to gain momentum to tighten financial oversight, which President Barack Obama supports.

    Robbins said Monday's lawsuit is the first securities fraud case filed against Goldman and seeking class-action status since the SEC sued. Legal experts expect others to follow.

    The named plaintiff is Ilene Richman, a Goldman shareholder who Robbins said was "extremely troubled by the conduct that went on." She was not immediately reachable for comment.

    Last week, Goldman was also hit with two shareholder derivative lawsuits accusing the bank's executives and board of breaching fiduciary duties. Shareholders bring derivative lawsuits on behalf of companies to enforce or defend rights that the companies fail to address on their own.

    The case is Richman v. Goldman Sachs Group Inc et al, U.S. District Court, Southern District of New York.

    Gonna get uuuuuuugly!!! TexasBondie

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  21. Blondi are you still holdin any GS puts

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  22. kli...CNAM's performance reminds me of this song.
    http://www.youtube.com/watch?v=y7sEchp-n64
    frank

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  23. Frank,

    Very appropriate, CNAM just like an extremly gorgeous woman from $3 to $11 and then she takes the rug from under, heheeee!

    Joe

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  24. "Cramer Changes Tune On Goldman, Says Charge Is Not "Frivolous" And Firm Will Have To Settle Or Pay $2-3 Billion Fine"

    http://www.zerohedge.com/article/cramer-changes-tune-goldman-says-charge-not-frivolous-and-firm-will-have-settle-or-pay-2-3-b

    bcbk

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  25. Anyone have experience/advice using IRA custodians (Entrust Administration, Sterling Trust Company) to invest in PMs?

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