Mark Riddix

Dividend Cuts: Who's Next?

Excellent Points.


On Mar 05 06:25 PM philipmax wrote:

> I do agree with you, greedcanbegood, that there is a big difference
> between investment banking as conducted by Citi and JPMorganChase
> and plain vanilla banking such as USB and PNC. But the market isn't
> taking the time to differentiate .
> I have great faith in the "good banks" but they stood in line to
> get the TARP and I don't see them refuting the excesses that are
> attributed to the others.
>
> There is no doubt in my mind that the repeal of the Glass-Steagle
> act in 1997 was the ignition point for this debacle. It took ten
> more years of unabated greed supported by the total lack of supervision
> and enforcement to get us here.
> So, any bank that takes TARP money and reduces its dividend and still
> reporting large reserves for bad debt, is probably hiding some shenanigans
> in its balance sheet. And... Yes, the management should bear responsibility,
> either by resigning or by reducing its bloated pay scales. As to
> stock options, for what? Pray tell, for what? Why should we the stockholders
> have to suffer dilution of our equity (be it ever so small) at the
> expense of mismanagement.? I stand pat with my demands and would
> like to add that there ought to be some indictments coming soon or
> there may well be an unwelcome surge in "other" crimes in this country
> as the population reacts to injustice.

Dividend Cuts: Who's Next?

I own stock in Wells Fargo, Bank of America and JPMorgan actually. I hate seeing these dividend cuts but realize that they are essential to maintaining capital levels.


On Mar 05 06:31 AM oceansmike wrote:

> Mark, 1. Its being pounded lower by Shorts and Naked shorts , and
> 2. Why are so many short traders so interested in WFC well being,,
> as a Long I need the Dividend, 3. the shorts have ruined every other
> Company stock I own,, so the moral of the story are you a Wolf in
> Sheeps Clothing a News Journalist fronting for one of the Hedge Funds
> (who every one and his grandmothers Knows is a front for Naked Shorts,,ok
> said my peace,,Please don't do any more help to WFC ,,Cramer does
> enough for the financials,,one day you'll have to go back to using
> a Piggy Bank (or Mattress) ,,Thanks for your Understanding,,.,,Ocea...

Financials Getting Slaughtered

Good point. Greenspan was a big believer in unregulated free markets and now he wants temporary bank nationalization. Some people blame his "easy money" policy for the crisis.


On Feb 18 10:57 AM Dr.Jackpot wrote:

> Someone wrote this morning that Alan Greenspan favored nationalization
> of banks. Wasn't he the whole cause of this ripoff in the first place?
> Is there no justice called for here?

Financials Getting Slaughtered

That is the difficult part, trying to determine which of the financial companies stocks will have any value 3 to 5 years from now.


On Feb 18 08:39 AM Jim Hawthorne wrote:

> Yes, the financials are getting slaughtered. Yes, many of these equities
> are trading at or near their 52 week lows. Yes, many of these are
> facing the delightful choice of insolvency or nationalization.<br...
>
> Are any of them really 'cheap'? When you're buying a deck chair on
> the Titanic, is any price 'cheap'?