Facebook: IPO Just a Distraction?

Financial Times report says the social networking site is delaying IPO until the fourth quarter of 2012.
– Selected by eWallstreeter.com –

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Boiler-Room Operator Gryphon Financial’s Team Of Hardcore Traders Was Located In One Man’s Body, Also In A Staten Island Strip Mall

Remember Gryphon Financial, the boiler room scam operated by Kenneth Marsh that claimed to have a “hardcore business” run by a ten-man trading desk who “beat up hedge funds” together and of whom no less than George Soros suppose

US "Misery" At Fresh 28 Year High

It was just three months ago that we posted that the US Misery Index (inflation plus unemployment) hit a 28 year high. Today we boldy recycle that headline, and pretty much the entire post, as the US Misery Index just hit a fresh post 1983 high. Really

The Tax Cheating Treasury Secretary Lies Again

Compare and contrast. This from Marketwatch yesterday: “Treasury Secretary Timothy Geithner is not going to Poland to push European finance ministers to boost the size of the euro-zone bailout fund, a U.S. official said Tuesday” to this just released

On the swap

I had this to say on August 20th regarding a big central bank swap deal:
I maintain the next move by the Fed is to massively open up the dollar swap lines with European central banks. I don’t think Bernanke wants to announce this significant step at

Are Naked Puts Risky Business? (Part 1)

The following is a post by Christopher Ebert, who uses his engineering background to mix and match options as a means of preserving portfolio wealth while outpacing inflation. He studies options daily, trade options almost exclusively, and enjoys shar

Thursday’s ETF To Watch: iShares Barclays TIPS Bond Fund (TIP)

NYSE:TIP, NYSE:IEF, NYSE:TBT, NYSE:TLT,

What Do You Call A ‘Rogue’ Trader Who Makes $2 Billion? A Managing Director

UBS AG apparently is the latest bank to suffer at the hands of a “rogue.” British police arrested a man on suspicion of fraud Thursday after UBS’ exchange-traded fund desk said a trader had racked up $2 billion in losses.
– Selected by eWallstreeter.c

CPI Jumps, Foreclosure Filings Hit 9-Month High, Banks Took $6B In Illegal Kickbacks, UBS Rogue Trader Loses $2 Billion, Sarah Palin In Hot Water Over Allegations (13 Links)

China states heavy price for Italian rescue – Ambrose Evans
Banks Took $6 Billion in Reinsurance Kickbacks, Investigators Say
CPI jumps 0.4% in August – Core rate of inflation hits highest level since 2008
Foreclosure filings jump 7% in August from Jul

Philly Fed Misses, Market Soars As Inflation Roars Back With Prices Paid Doubling

Love bizarro day, Embrace bizarro day, Have its child. The Philly Fed missed consensus of -15.0, printing at -17.5, though better than last month’s abysmal -30.7 print… and stocks rip on expectations of more, more, more, intervention. As for how QE w