I deleted an earlier post where I had used an overly simplistic calculation method in order to challenge the recently released stress test findings. Without going into great detail here, suffice it to day that based on PPIP’s 12:1 non-recourse loan leveraging of assets, I imputed a 65% differential between the notional and marketable value of toxic [...]

As I mentioned in several earlier posts, cherish the official statistics while they still exist because they are in the process of being “cooked” along with the balance sheets of the big derivative players: Of course, with the discarding of real accounting standards in the United States, the true extent of this toxicity will now [...]

As expected, bail-outs turn to BIG BETS to keep the Fascist derivatives casino flowing and growing…

The Administrations Prodigal Son – Goldman Sachs