Seeking Alpha

Joseph L. Shaefer » Comments » ADCT

  • Wall Street Breakfast: Must-Know News [View article]
    "Wells Fargo to repay TARP... Stumpf said the money would be repaid 'shortly' but declined to provide a date."

    The most apt analogy is that Wells Fargo is Lucy van Pelt with the mortgage football and they think we are Charlie Brown. "I won't pull the football away this time, Charlie Brown, really I won't."

    According to Mortgage Daily, Wells Fargo is the biggest holder of residential mortgages in the country, and likely the largest holder of subprime, alt-A, option ARM and all the rest of the dreck still sitting like time bombs in their portfolio. Yet they figure they can paint a happy face on this pit bull to keep their stock elevated long enough for the insiders to sell at the 30:1 ratio of sells to buys most recently reported.

    Sadly, there are those who will actually fall for it -- and end up flat on thier backs.
    Sep 02 08:23 am |Rating: +10 0 |Link to Comment
More on ADCT by Joseph L. Shaefer
Comments by Ticker
AA, AAI, AAPL, AAUKY.PK, ABK, ABT, ABX, ACL, ACN, ACV, ADBE, ADCT, ADE, ADI, ADM, ADP, AEG, AEM, AGG, AGO, AGU, AIG, AIR, AIV, AKP, ALD, ALL, ALU, AMLN, AMN, AMR, AMZN, ANGO, ANH, AOB, AONE, AP, APC, APD, APOG, ARUN, ARVCF.PK, ATI, ATLIF.PK, ATW, AU, AUO, AUY, AVB, AVI,
Joseph L. Shaefer is a
Top 50 Commentor
307 comments
Rating: 1752 (1982 - 230 )