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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 368.29+0.6%Nov 7 4:00 PM EST
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To: pezz who wrote (35112)5/24/2008 12:55:43 AM
From: TobagoJack  Read Replies (2) of 217580
 
hello pezz, today's report:

(i) sold of the part of my enerplus finance.yahoo.com holdings for 48.15; they were bought here Message 24355392 for 11.7% gain. i continue to hold the bouquet bought at 39;

(ii) sold off my australian worldwide exploration finance.yahoo.com at 4.40; they were bought here Message 24052994 for 2.99, allowing for a 47% gain;

(iii) this just in in-tray, and i quote:

From today's SCMP:

The mainland's banking regulator has urged banks to immediately write off loans likely to default following the devastating Sichuan earthquake that has caused at least 67 billion yuan (HK$75 billion) in economic losses.

Anticipating a possible rebound in bad debts, the China Banking Regulatory Commission said banks should recognise loans they are unlikely to recover and clear them off their loan books.

For bank cards in overdraft and where the cardholders have either died or are missing, lenders should classify the card lending as non-performing loans and remove them from the loan portfolio.

"This is to bring the level of bad loans to a minimum in a timely manner," the CBRC said.

WOW! Can you imagine the US Treasury or the Federal Reserve demanding the banks / investment banks to do such a thing? At the moment, it seems as if the Fed is telling banks "sell me your bad loans so that you don't have to announce a loss anytime soon, if ever."

China seems to be light years ahead of the US nowadays. Who is capitalistic and who is communistic? I'm confused..... ;-)

Mac

chugs, j
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