Seeking Alpha

Joseph L. Shaefer » Comments » AZO

  • Wall Street Breakfast: Must-Know News [View article]
    “Citi, Wells stuck in TARP trap… While bank executives would like to move forward under terms similar to those granted Bank of America…Fed and Treasury officials want the two banks to raise more capital relative to the loans they're seeking to repay.”

    These banks took the taxpayer’s TARP money at near 0% and reinvested it in guvvies then yielding 4-4.5%. It was a risk-free transaction using other people’s money (ours) that made them billions. They also used it to play the derivatives market, to pay bonuses, and to increase their market share by buying banks “too small for the government to care about” for pennies on the dollar. And now they want to negotiate a “better” deal in repaying TARP money so their CEO and top execs can get higher salaries? I guess this is what it looks like when cheeky turns to rapacious…
    Dec 08 11:37 am |Rating: +6 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    A man's most important possession is his good name. Shouldn't it be the same for a rating agency? When I can't trust Moody's to give an honest appraisal, what possible value can they have? What possible reason to stay in business?
    Sep 23 11:39 am |Rating: +8 0 |Link to Comment
More on AZO 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, AET, AGG, AGO, AGU, AIG, AIR, AIV, AKP, ALD, ALL, ALU, AMLN, AMN, AMR, AMZN, ANGO, ANH, ANZBY.PK, AOB, AONE, AP, APC, APD, APOG, ARUN, ARVCF.PK, ATI, ATLIF.PK, ATW, AU, AUO, AUY,
Joseph L. Shaefer is a
Top 50 Commentor
317 comments
Rating: 1817 (2054 - 237 )