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killthehedgies

Listed below are comments made by killthehedgies between Wednesday, 25th February 2009 and Monday, 27th July 2009.

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Business still being crunched by banks 08:44am on 27 Jul 2009 The govt BOE and The FSA foisted ridiculously high capital ratio requirements onto the banks to ensure that could withstand an unimaginable collapse in the economy. It was never going to happen now was it. Ludicrous scaremongering by the journos saw everyone stock up on tinnned foods and bottled water. Now we are seeing green shoots bursting out everywhere and our State controlled banks are flying because the smart money has worked out that they are and have been making loads of money which will see them soon in a position to rid itself of the Govt interest. I remember the stick I got for suggesting that the banks may be worth a punt back in March. Guess who is laughing now. Smell the coffee guys - the bank shares have only doubled so far
Does Europe need hedge funds? 12:57pm on 09 Jul 2009 Luckyjim - the big banks bought into the toxic stuff in part because investors wanted higher interest on their deposits. When you buy stuff that has been given a triple A rating you it would seem foolishly assume that the stuff you are buying is worthy of this top rating. So yes -some errors of judgment - they should have known what they were buying rather than relying on the "independent rating agencies" research capabilities. What is truly staggering is that Morgan Stanley and Goldmans have again taken mortgage debt and CDO's to the rating agencies and have secured yet another AAA rating for this and have started to peddle it again. Secretive sure lets have things out in the open lets have the same rules for all. If they don't like it - tough. enough said I think
Does Europe need hedge funds? 10:39am on 09 Jul 2009 The simple answer is NO. Their function is about as beneficial as that of the cockroach. It is well-accepted that they played a material role in the near destruction of the global financial and profited handsomely from shoting and runour mongering. They were provided the liquidity to do so by the very same investment banks that colluded with the rating agencies to create the toxic waste other banks bought into. In some cases the very same investment banks own hedge funds were busy shorting the very same stuff as it was peddled to others. If they have nothing to hide than why would they be worried about coming into the light so that we can all see how law abiding they really are and how pucker their investors are. So far the nations anger has been focussed on the hapless RBS and Lloyds who may have made some errors of judgement. Why do we continue to ignore those who played a much greater role in starting the brush fire the damage of which we are all now paying for. Needless the hedgies continue to insist as they had nothing to do with it why should they come under scrutiny. Bring on the legislation and lets have a really good look at their role in recent events.
Indebted Britain 09:39am on 22 May 2009 #119 excellent post- I agree Govt not far off in making a profit. hedgie scum standing in the way but that will not last. As for the IMF - they are about as knowledgeable as the "talking heads" ON CNBC and Bloomberg or indeed some of the so called economic commentators in the FT and other broadsheets.
Indebted Britain 1:22pm on 21 May 2009 It beggars belief tnat we still pay any attention to S&P. They were the ones that colluded with the investment banks to put AAA ratings on the toxic debt thant our banks bought. They should be brought to justice and made to pay. True to form equity markets tanked well before the news was released. Look at the Forex markets they fell at 0942 when the news came out yet the options stunters had already sent the stock market 2.2% lower an hour or more before the data was released. Coincidence- of course. We will not turn the corner until we get our pound of flesh from those who engineered the current situation. Somebody please inform the FSA that perhaps they should have a look at the rating agencies and their role in this whole debacle.
Making banking boring 6:45pm on 02 Apr 2009 Great they are going to bring in a bunch of rules that stop the banks doing bad things in future. How utterly utterly naive. What is so desperately sad is that the criminals at the root of the problems are getting of scott-free. The Rating Agencies certified toxic debt with a triple A investment rating taking money from the investment banks who put the stuff together. when every institution had bought the stuff and the moeny was in the bank the rating agencies changed their tune. A bit like waiting until the cinema is full - locking the doors and the shouting "fire". Sure blame RBS, blame Fred, blame Hornby - send the crusties to an RBS building and let the press get their footage. Why haven't our G20 saviours not got the guts to put Fitch, Moody's and S+P in the dock. If ever there was a criminal case to be answered look no further.
RBS: big losses, big bailout 5:22pm on 26 Feb 2009 #255 It is very difficult to mark anything to market if the market for the product has disappeared. When the products were constructed and given a triple A rating everyone that bought them knew exactly what % of the asset was of lesser quality but were prepared to buy them because of the extra interest they could earn for taking that risk. As the climate deteriorated the Investment banks that packaged up the products and sold them to their clients and made a market in them stopped offering realistic prices even though the vast majority of the underlying assets continued to meet payments. The implication is that the entire product is now in default which is nonsense. Its a bit like saying the house prices are falling and sellers cannot get anyone interested so your house is worth nothing.
RBS: big losses, big bailout 12:56pm on 26 Feb 2009 #142 armagediontimes.

Jolly Jim and and "Doctor Doom" are part of the problem. They have been given far too much airtime to spout their naive nonsense and been allowed to talk their own books. They have contributed zero to any form of sensible debate. IMO we will get out of this mess as the required accounting changes are made. Asssets will be written back and the Govt will get its money back. It will happen quickly and as so often happens the likes of Jolly jim, T Boone, Doctor D and the legendary George Soros will go back in to hiding, dreaming about the one call they got right and bemoaning the fact that the world does not understand them.
RBS: big losses, big bailout 09:28am on 26 Feb 2009 Another day and another day of hysterical BBC and media coverage. As has been pointed out elsewhere but has been drowned out by the wailing renta-crowds, the banks have been hit by a set of unprecedented factors which could not have been foreseen other than with the benefit of hindsight of which there is plenty in abundance. Sure mistakes were made and those have been well documented (ad nauseum). Not so obvious in the coverage is the political meddling by numbers 10 and previously number 11 have made matters much much worse - helpful to the banks to extent of making somebody swim with concrete boots on. Ridiculous capital ratio requirements has left the banks no alternative but to stop lending. Add to this some utterly dumb set of accounting standards and hey presto you have the mess we have today. The FSA the BOE and our beloved Government have all played a key role in making matters a great deal worse then they might have been. None of them are going to be sacked, are they now and I am pretty sure bonusses and pensions will not be shabby either. Keep fanning the flames of public outrage Robert, keep diverting attention away from the hapless bunch of civil servants and keep the hounds firmly on the trail of Sir Fred. If anybody has any sense they will be buying RBS shares - even 30% higher they may well prove a stonkingly good investment for those who can look beyond tabloid journalism.
Was Fred really 'the shred'? 09:21am on 25 Feb 2009 I agree with many of the lastest posts. Remember the cries of "Ripoff" and "scandal" by the journos when the banks were making big profits and contributing handsomely to the country's coffers? Sadly media hacks even those that ought to know better have become better and better at finding a populist bandwagon and jumping on it. Sure give the former bank heads a good kicking makes the populus feel good - a bit like the old stock teatment meted out in the Middle Ages. What we are overlooking of course is that the regulators and the accounting profession have a great deal to answer for as they failed to keep up with the pace of financial devlopments and ultimately brought it to its knees through some stupid stupid rules. Is the media circus' obsession with a few bankers a deliberate politically inspired smokescreen to hide incompetence elsewhere? I think we have milked this one to death Robert lets move on please.

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