Today’s links: LPS, Cablevision Fitch and more

Here’s what I was reading and thinking about when I wasn’t out looking for a Christmas Tree at sunrise this morning. On my own land.  I love New Mexico.

Financials Lead Despite Fitch Downgrade – It’s remarkable, truly astonishing, that anybody cares what the ratings agencies say anymore. Subprime CDOs were AAA-rated by these idiots. The Republican/Democrat Regime has anointed a few agencies an government-restricted oligopoly and that’s the only reason they matter any more. Stress tests, anybody?

Ugly at Cablevision – You guys know I’ve been harping on Cablevision as a short for a very long time. The debt load is crushing there as price competition from Verizon and internet video watching has destroyed the cable subscription business model here. Not sure I’d short today, but this thing’s either going private or going bust in public within the next eighteen months if I had to guess.

Jay Somaney’s “So Money” Trading Diary – Guess who bought puts on RIMM yesterday? Man, Jay is a good tech trader. Read his stuff today, including: “YHOO is sunk as well if they cant find a buyer. At least there we know there is interest from the VC’s and Alibaba and Jack Ma. Rimm is sunk.”

Six former executives of Fannie, Freddie charged – I’ll be impressed if and when the charge the CEO of a TBTF bank.  I got kicked out of a conference sponsored by Goldman for calling for the prosecution of Lloyd Blankfein while I was moderating a panel following an Abby Joseph Cohen speech. I don’t care, we need some prosecutions to bring back confidence in the markets. Nothing else will work, as I’ve been saying for three years now.

Lender Processing Sued By Nevada’s Attorney General (LPS)‎ – I love it when a plan comes together. I’ve been saying this since I first called LPS “the single best short in the market” late in 2010.  Still is.