On MTM, insolvency, and market over-corrections

[davelj]

[quote=drunkle]
the chart here:

http://bigpicture.typepad.com/comments/2008/08/us-bank-derivat.html

shows citi to have some 38 trillion in derivative exposure. 10 percent loss on that exposure = 3.8 trillion in real dollars. a ten percent loss in the current environment seems reasonable given the massive drop in asset/debt values.

[/quote]

Do you really expect me to comment in detail on Citi’s GROSS notional derivative exposure, as opposed to its NET exposure… and without seeing the underlying details surrounding such exposure? (Also, these numbers are over a year old.)

And your “10 percent loss” assumption “given the massive drop in asset/debt values”? I don’t even know where to begin…

Please.

Do the REAL homework – and, no, that’s not just regurgitating what’s on another blog; it’s digging into 2008’s 10K, making some phone calls to folks in the business, and doing some real analysis to the extent it’s possible – and THEN we can have a discussion.

I know it’s easier to be lazy. But that’s what’s gotten us into this mess, right?

[drunkle]

why are you wasting your time on a BLOG then? are you here to share knowledge or just be a prick?

who gives a shit, gross or net? i stated that the numbers seemed pointless in the context of the second article claiming that the contracts are fraudulent to begin with. what’s the difference between a gross lie and a net lie?

speaking of lazy, instead answering the simple questions, “what is ‘the system’ and why is it worth saving”, you want to get uppity and pissy. fine with me, i suppose that’s as good an answer as i can expect: you don’t know anything either.

[drunkle]

why are you wasting your time on a BLOG then? are you here to share knowledge or just be a prick?

who gives a shit, gross or net? i stated that the numbers seemed pointless in the context of the second article claiming that the contracts are fraudulent to begin with. what’s the difference between a gross lie and a net lie?

speaking of lazy, instead answering the simple questions, “what is ‘the system’ and why is it worth saving”, you want to get uppity and pissy. fine with me, i suppose that’s as good an answer as i can expect: you don’t know anything either.

[drunkle]

why are you wasting your time on a BLOG then? are you here to share knowledge or just be a prick?

who gives a shit, gross or net? i stated that the numbers seemed pointless in the context of the second article claiming that the contracts are fraudulent to begin with. what’s the difference between a gross lie and a net lie?

speaking of lazy, instead answering the simple questions, “what is ‘the system’ and why is it worth saving”, you want to get uppity and pissy. fine with me, i suppose that’s as good an answer as i can expect: you don’t know anything either.

[drunkle]

why are you wasting your time on a BLOG then? are you here to share knowledge or just be a prick?

who gives a shit, gross or net? i stated that the numbers seemed pointless in the context of the second article claiming that the contracts are fraudulent to begin with. what’s the difference between a gross lie and a net lie?

speaking of lazy, instead answering the simple questions, “what is ‘the system’ and why is it worth saving”, you want to get uppity and pissy. fine with me, i suppose that’s as good an answer as i can expect: you don’t know anything either.

[drunkle]

why are you wasting your time on a BLOG then? are you here to share knowledge or just be a prick?

who gives a shit, gross or net? i stated that the numbers seemed pointless in the context of the second article claiming that the contracts are fraudulent to begin with. what’s the difference between a gross lie and a net lie?

speaking of lazy, instead answering the simple questions, “what is ‘the system’ and why is it worth saving”, you want to get uppity and pissy. fine with me, i suppose that’s as good an answer as i can expect: you don’t know anything either.

[davelj]

[quote=drunkle]

speaking of lazy, instead answering the simple questions, “what is ‘the system’ and why is it worth saving”, you want to get uppity and pissy. fine with me, i suppose that’s as good an answer as i can expect: you don’t know anything either.

[/quote]

Here’s what I know: I know the difference between what I DO know and what I DON’T know. And I also know when I don’t even have enough knowledge on a subject to discuss it intelligently. And that’s served me reasonably well.

But if you’ve read this far and come to the conclusion that I “don’t know anything either” – which is perfectly o.k. by me – then why do you bother asking me questions? That’s a rhetorical question as we both know the answer.

[davelj]

[quote=drunkle]

speaking of lazy, instead answering the simple questions, “what is ‘the system’ and why is it worth saving”, you want to get uppity and pissy. fine with me, i suppose that’s as good an answer as i can expect: you don’t know anything either.

[/quote]

Here’s what I know: I know the difference between what I DO know and what I DON’T know. And I also know when I don’t even have enough knowledge on a subject to discuss it intelligently. And that’s served me reasonably well.

But if you’ve read this far and come to the conclusion that I “don’t know anything either” – which is perfectly o.k. by me – then why do you bother asking me questions? That’s a rhetorical question as we both know the answer.

[davelj]

[quote=drunkle]

speaking of lazy, instead answering the simple questions, “what is ‘the system’ and why is it worth saving”, you want to get uppity and pissy. fine with me, i suppose that’s as good an answer as i can expect: you don’t know anything either.

[/quote]

Here’s what I know: I know the difference between what I DO know and what I DON’T know. And I also know when I don’t even have enough knowledge on a subject to discuss it intelligently. And that’s served me reasonably well.

But if you’ve read this far and come to the conclusion that I “don’t know anything either” – which is perfectly o.k. by me – then why do you bother asking me questions? That’s a rhetorical question as we both know the answer.

[davelj]

[quote=drunkle]

speaking of lazy, instead answering the simple questions, “what is ‘the system’ and why is it worth saving”, you want to get uppity and pissy. fine with me, i suppose that’s as good an answer as i can expect: you don’t know anything either.

[/quote]

Here’s what I know: I know the difference between what I DO know and what I DON’T know. And I also know when I don’t even have enough knowledge on a subject to discuss it intelligently. And that’s served me reasonably well.

But if you’ve read this far and come to the conclusion that I “don’t know anything either” – which is perfectly o.k. by me – then why do you bother asking me questions? That’s a rhetorical question as we both know the answer.

[davelj]

[quote=drunkle]

speaking of lazy, instead answering the simple questions, “what is ‘the system’ and why is it worth saving”, you want to get uppity and pissy. fine with me, i suppose that’s as good an answer as i can expect: you don’t know anything either.

[/quote]

Here’s what I know: I know the difference between what I DO know and what I DON’T know. And I also know when I don’t even have enough knowledge on a subject to discuss it intelligently. And that’s served me reasonably well.

But if you’ve read this far and come to the conclusion that I “don’t know anything either” – which is perfectly o.k. by me – then why do you bother asking me questions? That’s a rhetorical question as we both know the answer.

[Arraya]

Give me you money or the economy gets it!

http://www.bloomberg.com/apps/news?pid=20601087&sid=armOzfkwtCA4&refer=home

March 31 (Bloomberg) — The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.

“The president and Treasury Secretary Geithner have said they will do what it takes,” Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein said after the meeting. “If it is enough, that will be great. If it is not enough, they will have to do more.”

[Arraya]

Give me you money or the economy gets it!

http://www.bloomberg.com/apps/news?pid=20601087&sid=armOzfkwtCA4&refer=home

March 31 (Bloomberg) — The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.

“The president and Treasury Secretary Geithner have said they will do what it takes,” Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein said after the meeting. “If it is enough, that will be great. If it is not enough, they will have to do more.”

[Arraya]

Give me you money or the economy gets it!

http://www.bloomberg.com/apps/news?pid=20601087&sid=armOzfkwtCA4&refer=home

March 31 (Bloomberg) — The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.

“The president and Treasury Secretary Geithner have said they will do what it takes,” Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein said after the meeting. “If it is enough, that will be great. If it is not enough, they will have to do more.”

[Arraya]

Give me you money or the economy gets it!

http://www.bloomberg.com/apps/news?pid=20601087&sid=armOzfkwtCA4&refer=home

March 31 (Bloomberg) — The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.

“The president and Treasury Secretary Geithner have said they will do what it takes,” Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein said after the meeting. “If it is enough, that will be great. If it is not enough, they will have to do more.”

[Author]

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