“… the FED has only two tools: inflation and blarney. They will use both on September 18.”

More: continued here

“We believe that the current dislocations caused by ongoing liquidations of leveraged positions in various markets are creating attractive investment opportunities in a broad number of hedge fund strategies”

August looks to be the worst month for hedge funds in seven years and is close to being the worst since 1998 as almost all hedge strategies have failed to perform. via Financial Times

More: continued here

“Nick Parsons, head of strategy at nabCapital, said: “Every institution is potentially guilty until proven innocent. With incomplete disclosure and a lack of transparency, those holding cash are unwilling to lend it for other than extremely short periods and then only against the highest quality collateral.”"

More: continued here

“Deutsche Bank has shut down its proprietary credit trading desk in London and up to seven employees have left the bank - including department head Gerry Jackson - as the credit crunch claimed yet more scalps yesterday.”

More: continued here

“Fannie Mae and Freddie Mac are the problem not the solution. Innovative lending products are the problem not the solution. 300+ Congressional bills to make housing affordable is the problem not the solution. Repeatedly bailing out the markets is the problem not the solution. Creative thinking sponsored by the Fed and embraced by both Greenspan and Bernanke is the problem not the solution. Greenspan embracing ARMs and derivatives is the problem not the solution. Being “Ready and Willing to Act” is the problem not the solution…”

More: continued here

“The Bank of England has warned financial institutions authorised to use its emergency lending facility that they are not supposed to discuss it publicly.”-Hush Money

More: continued here

“Lennar Corp., the big Miami home builder that reported a $255 million loss in the most recent quarter, has trimmed more than 60 additional positions from its Southwest Florida division, bringing it to its pre-housing-boom levels, an executive said.”

More: continued here

The Massachusetts Turnpike Authority faces the possibility of higher borrowing costs because of derivative agreements it made with UBS AG and Lehman Brothers Holdings Inc. via Bloomberg

More: continued here

“The much whispered-about Lehman Brothers have some harsh words for their detractors: the investment bank today downgraded the outlook for four of their Wall Street stablemates. Lehman downgraded third and fourth quarter earnings as well as the 2008 outlook for Morgan Stanley, Bear Stearns, Merrill Lynch and Goldman Sachs.”

More: continued here

“At Virginia Tech, he exhibited seriously deviant behavior that went unchecked, and the faculty did not take adequate steps to put him in check”

Shares of major U.S. brokerages were set to trade lower Thursday morning with a report from Lehman Brothers serving as the catalyst, as Lehman’s analysts lowered p… More . via Earthlink

More: continued here