H. Rodgin Cohen's (Failed?) Quest To Backstop Every Bank... Ever (And Usurp Geithner's Throne)

Zero Hedge: H. Rodgin Cohen's (Failed?) Quest To Backstop Every Bank... Ever (And Usurp Geithner's Throne)
Must read of the day

Despair flows as fields go dry and unemployment rises - Los Angeles Times

Despair flows as fields go dry and unemployment rises - Los Angeles Times
More problems for Calif

Florida aided Allen Stanford, suspect in huge swindle - Florida - MiamiHerald.com

Florida aided Allen Stanford, suspect in huge swindle - Florida - MiamiHerald.com

So if your bank has nice taste in furniture you entrust you life savings, Are your F$#$ kidding me?

''Everything was first class,'' she said. ``We thought our money was
safe.''

The state of Florida would have to grant him the right to move
vast amounts of money offshore -- without reporting a penny to regulators.

Sure this is fine, all the money offshort with no records.

Who the hell was in charge and what did they get paid to let this happen?

Banks Take Aim at Revolvers - Banking - CFO.com

Banks Take Aim at Revolvers - Banking - CFO.com
Here is a key problem. If short Term money is costly business will use it less and therefore have less money to spend on expanding. In short we are in vicious negative loop with no exit in site.

UBS: ‘The disaster in Spain will continue’ - Credit Writedowns

UBS: ‘The disaster in Spain will continue’ - Credit Writedowns
With in a year or two we will see Spain collapase. With that we will see the breakup of the Euro and possible the European union.

Biggest VIX Drop Hides Options Bets S&P 500 Will Fall (Update2) - Bloomberg.com

Biggest VIX Drop Hides Options Bets S&P 500 Will Fall (Update2) - Bloomberg.com
We have gone up to much for such a short period. It is an easy money bet we will make a correction lower.
Disclosure -Short S&P500

Mortgage Loan Losses Nearly 65% For Alt-A

Mortgage Loan Losses Nearly 65% For Alt-A
And still falling.