MER ( Merrill Lynch )
< The primary drivers of the FICC net losses in the third quarter were: Write-downs of an estimated $4.5 billion,
net of hedges, related to incremental third quarter market impact on the value of CDOs and sub-prime mortgages.
Write-downs of an estimated $967 million on a gross basis, and $463 million net of related underwriting fees,
related to all corporate and financial sponsor, non-investment grade lending commitments, regardless of
the expected timing of funding or closing. >
Connecting dots to incredible neglect and arrogance.
A top trader for that company who was contacted upon friendly Irish intervention " to have a look at my new art of reading
DATE, TIME OPEN, HIGH, LOW, CLOSE and VOLUME of traded financial instruments, remarked before the prime disaster struck our globe " Our company employs TOP NOTCH EINSTEIN Brains, Nobody can! WHO is he, anyways ?
Trading Data transparency has absolutely nothing in common with predicting or forecasting tomorrow or after.
With blinker5 technology in place that trader would get less Christmas Bonus - sure- but it would never have come to the
$4.5 billion loss of his company. In the first place.
WHY?
Because all those Einstein Brains in HIGH FINANCE, employed by banks and financial institutions engineering and implementing those Wall Street computer software trading programs can not correlate US FED interest rates & YIELD factors when " Hedgers of size " are at work.
For their employers & shareholders financial benefit sakes.
....................................................and prevent any party, spreading any type of technical news, which
would lessen their own financial prosperity by one US $ .........cent. |
