Archived posting to the Leica Users Group, 2008/01/19

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Subject: [Leica] Experiences Elmarit ASPH 28 vs IV generation E-46?
From: jayanand at gmail.com (Jayanand Govindaraj)
Date: Sat Jan 19 22:34:13 2008
References: <18436836.1200757668510.JavaMail.root@ctps1> <4792234D.2030409@mcclary.net> <20080119163723.GI10765@panix.com> <01e601c85ac9$85c69710$9153c530$@net> <20080120050148.GB4504@panix.com>

The difference between Paulson and Goldman was that Goldman was originating
these securities with one hand, with presumably rosy bullish projections,
and simultaneously shorting the same type of securities with the other,
reflecting a bearish view. Paulson did not do that.

We dont know the final outcome, as nobody seems to have marked down the
Level 3 securities completely as yet. Level 3 securities are those that do
not trade at all, and therefore cannot be priced by the market, and
therefore are priced according to the holder as he sees fit.  Billions of
dollars of bonus have been paid out of this fictitious income, therefore
transferring the money from the shareholders pockets to the employee's
pockets. Warren Buffett calls this as "Marking to Myth'.

Cheers
Jayanand

On Jan 20, 2008 10:31 AM, Rei Shinozuka <shino@panix.com> wrote:

> those are pretty typical levels for any of the broker-dealers like
> ubs (where i work) or morgan or merrill--in an average year.  problem
> is they lost so much money in housing-related securities in 2007
> that it's hard to pay anybody.  these companies have to get outside
> investors to maintain regulatory capital.
>
> now hedge fund manager john paulson took a famous bet against u.s. housing
> and  PERSONALLY in 2007 earned an estimated 3-4 billion dollars.  he's the
> guy who is hiring greenspan as an advisor.  goldman sachs also famously
> bet against the housing market and stands pretty much alone among
> investment banks to turn in huge profits.
>
> you win some, you lose some.
>
> -rei
>
> On Jan19 10:31, Frank Filippone wrote:
> > Obviously you do not work for ( now I forget who, but it was a NYC
> financial
> > powerhouse) who just gave out yearly bonuses averaging $250K .......with
> the
> > big wigs getting upwards of several Mil.
> >
> > Frank Filippone
> > red735i@earthlink.net
> >
> >
> > -
> > if and when
> > bonuses return to the finance market.
> >
> > -rei
>
> --
> Rei Shinozuka shino@panix.com
> Ridgewood, New Jersey
>
>
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>

In reply to: Message from LUISRIPOLL at telefonica.net (LUISRIPOLL@telefonica.net) ([Leica] Experiences Elmarit ASPH 28 vs IV generation E-46?)
Message from lists at mcclary.net (Harrison McClary) ([Leica] Experiences Elmarit ASPH 28 vs IV generation E-46?)
Message from shino at panix.com (Rei Shinozuka) ([Leica] Experiences Elmarit ASPH 28 vs IV generation E-46?)
Message from red735i at earthlink.net (Frank Filippone) ([Leica] Experiences Elmarit ASPH 28 vs IV generation E-46?)
Message from shino at panix.com (Rei Shinozuka) ([Leica] Experiences Elmarit ASPH 28 vs IV generation E-46?)