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USA Fire Sale: 1st Meeting July 3, 2007

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  • #16
    Re: USA Fire Sale: 1st Meeting 2010

    Originally posted by bill View Post
    Now what are they going to do with all that $$$$$$$ ?

    http://www.iht.com/articles/ap/2007/...s.php#end_main



    What ever they invest in it will be with local partners and front companies http://www.itulip.com/forums/showthr...10161#poststopto avoid conflicts.
    http://www.economist.com/finance/dis...ry_id=10218031
    The winner is Mr. Fang Fenglei




    http://www.marketwatch.com/news/stor...siteid=yahoomy

    HONG KONG (MarketWatch) -- Singapore's state-owned wealth fund, Temasek Holdings Pte Ltd., will provide half the funding for a $2 billion private equity fund overseen by a Goldman Sachs Group partner that will target investments in Chinese state-owned companies, according to a media report Wednesday.

    Comment


    • #17
      Re: USA Fire Sale: 1st Meeting 2010

      Bill -

      I would be delighted to park your reference here, under the noses (and one hopes, the reading glasses) of anyone referring to soon-to-be "swooning commodity markets". How are we to spell "currency substitute" for the next decade?

      Comment


      • #18
        Re: USA Fire Sale: 1st Meeting 2010

        And this.

        Originally posted by FRED View Post
        Shorting a bubble is tough. It's usually best to try to catch the first bounce than to try to time the initial crash.

        I see that the vancouver bubble is still strong, but i wonder how long it will last before the locals discover that the chinese had gone back last month!

        Comment


        • #19
          Re: USA Fire Sale: 1st Meeting 2010

          Originally posted by bill View Post
          The winner is Mr. Fang Fenglei




          http://www.marketwatch.com/news/story/singapores-temasek-back-2-billion/story.aspx?guid={3D0BD885-3CAA-4724-AC9A-9908A2545B61}&siteid=yahoomy

          HONG KONG (MarketWatch) -- Singapore's state-owned wealth fund, Temasek Holdings Pte Ltd., will provide half the funding for a $2 billion private equity fund overseen by a Goldman Sachs Group partner that will target investments in Chinese state-owned companies, according to a media report Wednesday.
          from a small seed a great oak shall grow.

          Comment


          • #20
            Re: USA Fire Sale: 1st Meeting 2010

            Ok, now we know what they are going to do with the money. They are exchanging expensive chinese froth with cheap american bank stocks. :eek:

            And to whom have they sold the expensive chinese froth to? Any good guess here?



            Originally posted by bill View Post
            Now what are they going to do with all that $$$$$$$ ?

            http://www.iht.com/articles/ap/2007/...s.php#end_main



            What ever they invest in it will be with local partners and front companies http://www.itulip.com/forums/showthr...10161#poststopto avoid conflicts.
            http://www.economist.com/finance/dis...ry_id=10218031

            Comment


            • #21
              Re: USA Fire Sale: 1st Meeting 2010

              "It is a well-settled principle of the international code that where one nation owes another a liquidated debt which it refuses or neglects to pay the aggrieved party may seize on the property belonging to the other, its citizens or subjects, sufficient to pay the debt without giving just cause of war."

              - Andrew Jackson (1767–1845), U.S. president. Sixth annual message to Congress, December 1, 1834. Compilation of the Messages and Papers of the Presidents, vol. II, ed. J.D. Richardson, Washington (1908).
              Ed.

              Comment


              • #22
                Re: Update 1

                Originally posted by bill View Post





                http://www.nytimes.com/2008/01/11/bu...W9pSJhJVat3AaA

                January 11, 2008

                Giant Write-Down Is Seen for Merrill

                By JULIA WERDIGIER and JENNY ANDERSON
                Merrill Lynch is expected to suffer $15 billion in losses stemming from soured mortgage investments, almost double its original estimate, prompting the firm to raise additional capital from an outside investor.
                Merrill, the nation’s largest brokerage firm, is expected to disclose the huge write-down when it reports earnings next week, according to people who have been briefed on its plans. The loss far exceeds the $12 billion hit many Wall Street analysts had forecast.
                To shore up its deteriorating finances, Merrill is now in discussions with investors in the United States, Asia and the Middle East, including American private equity firms, to raise about $4 billion in the coming days, these people said.
                Who will invest (liquidate assets) the money?
                I say its petro dollars this time.

                Comment


                • #23
                  Re: Update 1

                  Originally posted by bill View Post
                  http://www.nytimes.com/2008/01/11/bu...W9pSJhJVat3AaA



                  Who will invest (liquidate assets) the money?
                  I say its petro dollars this time.
                  Will this move the markets tomorrow 1/11/08? Which way?
                  Jim 69 y/o

                  "...Texans...the lowest form of white man there is." Robert Duvall, as Al Sieber, in "Geronimo." (see "Location" for examples.)

                  Dedicated to the idea that all people deserve a chance for a healthy productive life. B&M Gates Fdn.

                  Good judgement comes from experience; experience comes from bad judgement. Unknown.

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                  • #24
                    Re: Update 1

                    Originally posted by bill View Post
                    I say its petro dollars this time.
                    Now Japan and
                    http://www.bloomberg.com/apps/news?p...PSE&refer=home

                    Jan. 15 (Bloomberg) -- Citigroup Inc. and Merrill Lynch & Co., two of America's largest financial institutions, turned to outside investors for a second time in two months to replenish capital eroded by subprime mortgage losses.
                    Citigroup, the biggest U.S. bank, is getting $14.5 billion from investors, including the governments of Singapore and Kuwait, former Chairman Sanford Weill, and Saudi Prince Alwaleed bin Talal, the New York-based company said today in a statement. Merrill, the largest brokerage, said it's receiving $6.6 billion from a group led by Tokyo-based Mizuho Financial Group Inc., the Kuwait Investment Authority and the Korean Investment Corp.
                    This ends in a liquidation of assets.
                    `Capital at a Cost'
                    Morgan Stanley, UBS AG, Merrill Lynch & Co. and Bear Stearns Cos. also reached out to sovereign wealth funds or state- controlled investment authorities in Asia for money after bad investments depressed profits.
                    ``It does show that investors aren't completely ignoring the sector,'' said Peter Plaut, a senior credit analyst at Sanno Point Capital Management, a hedge fund based in New York. ``They are putting in capital but it's at a cost. Now it's up to the CEOs to be able to generate returns that exceed that cost of capital.''

                    http://www.bloomberg.com/apps/news?p...zfo&refer=home
                    `Deep, Desperate Hole'
                    ``They've got themselves in a deep, desperate hole and it's going to take them all of 2008 to work their way out of it,'' Jon Fisher, who helps manage $22 billion at Minneapolis-based Fifth Third Asset Management, said in an interview on Bloomberg TV. Fifth Third owns shares of Citigroup. ``There are probably issues on their balance sheet that the management team, who's only really been running the company for about a month, doesn't even know about.''

                    Comment


                    • #25
                      Re: USA Fire Sale: 1st Meeting 2010

                      http://in.reuters.com/article/asiaCo...33332520080327

                      China banks learn to say no to risky deals-sources

                      Thu Mar 27, 2008 6

                      NEW YORK, March 26 (Reuters) - Chinese banks, widely considered as possible buyers of more U.S. financial assets amid the snowballing credit crisis, are becoming picky and cautious due to increasing concerns about investment risks.
                      As a result of that near-miss, Beijing has begun to tighten its approvals for overseas investments by Chinese financial institutions. Now, any foreign investment that is worth "a considerable amount of money" requires approval from the cabinet before a legal binding agreement can be reached, the sources said.
                      "We certainly will not buy into institutions like Bear Stearns," said Xiao Gang, chairman of Bank of China

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                      • #26
                        Re: USA Fire Sale: 1st Meeting 2010

                        Good catch. Running out of suckers we are.
                        Ed.

                        Comment


                        • #27
                          Re: USA Fire Sale: 1st Meeting 2010

                          Originally posted by FRED View Post
                          Good catch. Running out of suckers we are.
                          First they flog the stock certificates of worthless technology IPOs, then the invented AAA-rated CDOs of overpriced tract homes, and finally the equity of the very companies that employ them. And in every instance most of the buyers lost money.

                          What will they try sell off next? Their children?

                          Comment


                          • #28
                            Re: USA Fire Sale: 1st Meeting 2010

                            its still no!
                            http://www.ft.com/cms/s/0/586ed412-6...0779fd18c.html
                            Lehman’s secret talks to sell 50% stake stall

                            By Henny Sender and Francesco Guerrera in New York
                            Published: August 20 2008 23:30 | Last updated: August 21 2008 15:29

                            Lehman Brothers, the beleaguered US investment bank, held secret talks to sell up to 50 per cent of its shares to South Korean or Chinese parties in the first week of August but failed to reach agreement with either.
                            The South Koreans and Chinese walked away after concluding that Lehman was asking too high a price, said New York-based people familiar with the potential buyers. Lehman declined to comment.

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