Thursday, July 31, 2008

Can't wait to try the Chinese new technology

designed to control bear running rampant. Truly a "leap forward" that Mao can only dream of. USA needs to get a few dose of this medicine too, tasty.


China Tightens Share Sale Approvals to Revive Market (Update1)

By Zhao Yidi
Enlarge Image/Details

Aug. 1 (Bloomberg) -- China is restricting approvals for share sales to keep new supply of equities from putting additional pressure on the world's worst-performing major stock market, two people familiar with the matter said.

The China Securities Regulatory Commission is delaying the issuance of written approval documents, the final regulatory stage, to companies preparing initial public offerings, said the people. They declined to be identified because they aren't authorized to speak publicly on the matter.

Shang Fulin, chairman of the securities watchdog, is trying to cushion a market that plunged 47 percent this year, making the CSI 300 Index the worst performer among the 20 biggest benchmarks. About a third of IPO applications were rejected last month, compared with 8.3 percent when stocks peaked in October, based on data from the regulator's Web site.

``Controlling share sales is an important tool for CSRC, and it's effective in the short term,'' said Leo Gao, who helps manage the equivalent of $2.3 billion at APS Asset Management Ltd. in Shanghai. ``More stock sales in a bear market is bad news'' for investors.


D said...

New word for the lexicon:


Main Entry:
re ·fel·la·tio Listen to the pronunciation of refellatio
also fel·la·tion Listen to the pronunciation of fellation \-ˈlā-shən\
Function: verb
Etymology: New Latin fellation-, fellatio, from Latin felare, fellare, literally, to suck — more at feminine
Date: circa 2008

:to blow the economy.

hattip - London Banker

D said...

The results are in from laboratory testing and the data proves that despite vigorous refllatio, the subject still deflates.

Anonymous said...


I'm not swallowing that!


Anonymous said...

It looks like the CDO's are unwinding relatively calmly. Any thoughts on this? Maybe they can get away without an explosion after all (although of course that says nothing about being at 'the bottom')

D said...

Don't get your undies in a bundle, the fun has just begun. The CDO machine cranked out:

2004 - $157.4
2005 - $271.8
2006 - $551.7
2007 - $502.9

Q1'08 - $19.5
Q2'08 - $17.3

Merrill and Citi have merely settled for some scraps before the dogs got to them. Keep in mind that the total CDS market is much larger than the CDO segment coverages that we are discussing.

MTGSPY said...

MER didnt sell shit. Everything will come back to them.

D said...

Merrill and Citi both financed the transaction, but MER did settle for scraps on the CDS on said CDOs.

I agree that eventually they will come back to them.