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Jack Holland
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Education: BA in International Relations, Masters of Public Accountancy Experience: Industrial Manufacturing, Oil & Gas Accounting, Educator, Writer Investment Experience: 35 Years
My company:
Tarpon Productions
My blog:
The Continental Speculator
My book:
Wisdom Based Economics
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  • CNBC Snakeoil Salesmen Attempt To Smear The Reputation Of Wells Fargo

    Snake Oil

    Snake Oil

    The December 23rd, 2013 CNBC interview with the LA Times reporter who wrote a story regarding certain employees of Wells Fargo opening accounts for customers without their knowledge is speculative. It is based on hearsay and should be considered Sensational and Reckless Yellow Journalism!

    When asked by CNBC reporter Bill Griffeth as to what evidence they have regarding senor levels of management setting such policy, LA Times Yellow Journalist E. Scott Reckard stated "I think..." and then offered his opinion, not provable fact.

    The only fact is that Wells Fargo fired employees for bad behavior, no more, no less.

    Until the LA Times' source is sworn in and deposed by a legitimate court of Law, the following so-called "anonymous employee" claim which appears in the story cannot be considered factual:

    "The employee, who spoke to The Times on condition of anonymity pending a meeting with an attorney, said the pressure to meet sales goals was intense at Wells Fargo. At times, managers required workers to stay late calling their friends and family members if they failed to open enough accounts during the day, the worker said."

    This is just another example of a smear campaign conducted by the highly disreputable Snake Oil salesmen working for CNBC. I am surprised at Bill Griffeth. He of all people on CNBC should know better.

    The comments by Jacob Zamansky claiming Wells Fargo upper level management condones such practice are pure conjecture. Listen carefully to his answer in the video below.

    I personally believe this story is most likely being pursued as a witch hunt against the highly profitable Wells Fargo Bank on behalf of other New York Wall Street Banks such as JP Morgan and others that covet Wells Fargo's business. JP Morgan after all is looking for something to take investors eyes off of all their recent sins.

    Keep in mind that after the Housing Bubble Implosion of 2008, CNBC went on a near daily Bank of America Bashing Campaign in what I believe was an attempt by the New York banking establishment to force Bank of America to go under. CNBC simply cannot be trusted to do honest non-biased reporting.

    Listen carefully to Kelly Evans plant the notion in viewers minds that Wells Fargo will face litigation and fines based on this story.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Tags: WFC, JPM, BAC
    Dec 23 4:28 PM | Link | Comment!
  • Dear Yahoo Advertiser: I Never Click On Your Top Line Email Ad

    Yahoo HQ - Photo by Wikipedia User Cool Caesar

    Yahoo HQ - Photo by Wikipedia User Cool Caesar

    If you are a Yahoo advertiser and are counting on consumers clicking on the first email in their email account inboxes, think again.

    For we Yahoo users are fed up with the ridiculous number of ads Yahoo is attempting to shove down our throats.

    I ran a survey on this topic among forty or so friends. They all agree. They never click on the top email which is a paid advertisement.

    Get a clue Yahoo.

    Get a clue advertiser...you are wasting your money!

    Tags: YHOO
    Dec 17 6:33 PM | Link | Comment!
  • Blackstone Group & CNBC Market Barkers Lay The Foundations For The Next Housing Bubble

    Snake Oil RealtorBlackstone Group and CNBC are living proof that Wall Street Shenanigans never cease. Wall Street Mechanics over at Blackstone Group are are now working overtime to create the next BIG BUBBLE and this one will be in the Single Home Rental Market. And the CNBC Snake Oil Salesmen are doing what they do best-sell the Snake Oil for them.

    Click here to read CNBC's article laying out Blackstone's Rental Market Play proposition and then come back to The Last American Newspaper and let ole Jack clue you in to what is really going on. CNBC's Diana Olick barks like a lapdog on their behalf. Woof!

    Also watch the video of the slick that was on CNBC this morning-the smooth talking Tom Barrack of Colony Capital. You can read more about Mr. Barrack here.

    Colony's Strategy speaks for itself: EXPLOITATION

    Strategy (From Colony's Website) Colony Capital's strategy is guided by an investment philosophy based on three key principles:

    Cautious Contrarianism: during downturns or secular changes, investing in out-of-favor sectors or markets to exploit misalignments

    Exploitation of Inefficiencies: capitalizing on information advantages to identify micro-market imbalances and secure investments on favorable terms

    Value-added Management to Optimal Exits: creating capital appreciation opportunities through repositioning, restructuring, development, and intensive management

    Now for a reality check. For the past five years Blackstone and other astute capitalists have been in bed with the Federal Reserve and cherry picking high dollar homes in highly depressed markets such as Phoenix, Las Vegas, Miami, and Orange County California.

    That's right folks, this is what we mean when we say the largest ever transfer of wealth is now taking place before your very eyes in these good ole United States of America.

    You see, during recessions and especially during depressions, the rich folk with cash pick up all the real estate assets for nickels on the dollar. During The Great Depression of the 20th Century, they bought up millions of acres of farm land, and now that we are smack dab in the middle of The Great Depression of the 21st Century, they have been buying up all the mega mansions that were built during the housing bubble run-up from 2000-2007. They cut special deals with the Fed in many cases to buy portfolios of the so-called Toxic Waste real estate on the Fed's balance sheets along with direct purchases through newly created real estate trusts. This buying is what is behind the remarkable recovery of home prices in Phoenix and elsewhere as investors rushed in to get in on the action. Very few if any of these homes have been purchased by families.

    Now, Blackstone Group, Colony Capital, LLC and others like them want to dump these family-less properties on unsuspecting suckers (Would Real Estate Investors with no capital of their own) through their newly created loan pools.

    We can align our assertions with Colony's so-called strategy:

    • The contrarian part of the equation means buying depressed real estate
    • The exploitation part of the strategy means pawning this stuff off to unsuspecting and naive investors
    • The optimal exits part of the strategy means collecting the bucks from those left holding the bag

    Guess what happens next?

    It is my opinion that the economy will simply not support the rents the investors seek and these unsuspecting investors will be left holding the bag.

    Mark my words America-you heard it here first. DO NOT PARTAKE IN THIS SCAM!

    Tags: BX, BXMT
    Dec 16 6:37 PM | Link | Comment!
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