Comments on: Agency MBS Hammered – PIMCO Begging For ANOTHER Bailout!

By: Jason

Jason — Fri, 19 Sep 2008 21:46:17 +0000

Looks like PIMCO gets what they ask for.
Reuters: http://www.reuters.com/article/bondsNews/idUSN195214120080919
FED: http://www.federalreserve.gov/newsevents/press/monetary/20080919a.htm

MBS prices spiked this afternoon in a matter of minutes. I can only assume the Treasury and/or the Fed are to thank.

I’m looking forward to your analysis…

By: Marc Authier

Marc Authier — Fri, 19 Sep 2008 15:27:32 +0000

NO PROBLEMO. Everybody is being bailed out, except the taxpayer and the house owner. So long suckers ! This country is crap. It’s incredible. World reserve currency and this countr is like a south-american banana republic. No more shorts on banks. What’s next ? No bearish blogs on banks ? FREE MONEY. (but just for banksters).

By: Randy

Randy — Fri, 19 Sep 2008 07:20:42 +0000

Thank you for providing me with an education in common sense finance. I run my own finances a little differently than I did a couple of years ago, because you pointed out about all these problems coming. Got rid of most of my debt and working hard on the rest.

Enjoy reading your posts on the net, even though some of it is still way over my head.

I always get the answers I need from your conclusions though…………………..lol

Enjoyed your youtube stuff as well……..

Thanks.

By: Stu

Stu — Fri, 19 Sep 2008 00:42:06 +0000

Ambac and MBIA back in the news with the word downgrade attached… well this can’t be good. I have wondered where these two gems were hiding. Now I know… the old duck and cover. Well I hate to be the one to tell them, but with AIG backed and WaMu gone the news days will be slow. We all know what happens when the Wolf needs to keep eating… anything will do for the next meal!!!

Enter the insurers! Ambac & MBIA your turn has officially arrived! I know, I know, you were rightfully mentioned, these days long ago, as a potential problem, but now you are one. Well at least the mob is looking at you with big eyes and an empty belly right now. Do you have what it takes to make a meal?

I can assure you of this people, whoever is hanging by a thread will now be exposed. If for no other reason than to toss the bright lights of off themselves and onto anyone else. You best be strong or the Wolf will be eating you up quickly in these times. Kill or be killed is the new wall street mantra, and if you don’t beleive me then just ask some traders or better yet spend one day on the floor and you will see…

By: Bill

Bill — Fri, 19 Sep 2008 00:02:50 +0000

I’m back after a furlow b/c I don’t believe in negativity which is too prevalent on this site. Negativity never got anyone anything in life.

But.. I just can’t resist after the results of today.

The Republicans just gave the election to Obama! They have shown themselves to only be interested in covering their own financial asses at the expense of this country! Our national debt will skyrocket IF this bank bailout is approved!

It’s so obvious. Instead of letting market forces punish those greedy AHs they are going to bail them out!!!! This is a travesty!!!!

We need a revolution!!! And Obama is going to sweep the election. Just watch. McCain better divorce himself from this nonsense big time right know if he knows what’s good for him. I won’t vote for him if he doesn’t. I’ll stay home.

By: split

split — Thu, 18 Sep 2008 21:21:27 +0000

OT – Here we go again, with the RTC….we’re going up, up and up. Once again, bottom is in again. Buy buy buy!

If it still fail to convince the market. The next thing Heli-Ben and Hanky will do is suspend the freaking market. This time I believe they’ll call it the capital preservation.

By: Patrick Patterson

Patrick Patterson — Thu, 18 Sep 2008 17:49:06 +0000

Mark,
You continue to provide the insight regarding the actions in the market. Without your thoughtfull explanations I would leave the headlines without an adquate appreciation of the impact and unintended consequences these financial moves are having.
As Robin knows only too well (as your proxy recipient for my email spewings)many of us see eye to eye with you on the simple and basic underlying cause of this ever widening crisis.

We all can agree that the global homeowner’s (includes me) bought more house than we/I could afford (for many,many reasons) and until we clear the market (forcibly or voluntarily) this debt/credit disease cannot be cured.

Thank you again for the great service you provide us all.
bscgovman

By: Tobby

Tobby — Thu, 18 Sep 2008 17:14:09 +0000

Yo Dog, take a look at the Treasuries. The MBS paper is not out of line. It’s the financial economy that is falling apart as everyone rushes to cash and near cash secutities. The 3 month T pays nothing. Factor in inflation and ALL of these cash instruments are losing money. Says loads about investor expectations of the economy.

By: CompaJD

CompaJD — Thu, 18 Sep 2008 17:11:36 +0000

Your right, Bill Gross is only looking out for himself and not the country. Which I believe everybody on Wall St. is doing. .Gov should just step aside and let Wall St. go through what I like to call a cleansing phase. Every bail out so far has led to more severe crashes.

By: douglas tuttle

douglas tuttle — Thu, 18 Sep 2008 16:49:08 +0000

I would not have picked Bill Gross as a whiner. I agree he has been manipulator extraordinaire the last few weeks. But perhaps there is more to this? Is PIMCO the next AIG? Are they signaling distress, or just trying to jerk more coin out of .gov?

You mentioned they are under a triple threat: LEH, AIG and now MBSs. Maybe they are they big users of short term debt to juice their returns? I sold my PIMCO shares a few weeks ago. For while I felt really stupid, now I feel smart. Hold that thought.