BAC Forum Topics
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- American Express Calls Investment Banks' Bluff [view article]
- Three Stocks To Be Held To Infinity and Beyond [view article]
- Bank of America Buyback Announcement: Who Cares? [view article]
- Five Strategies to Survive the Markets [view article]
- Can Cities Create "Foreclosure Sanctuaries?" [Housing Tracker] [view article]
- 25 Ways to Tell a Banking System Is Unsound [view article]
- Dow 30 Performance Since 7/15 [view article]
- Thursday Options Update [view article]
- Beware the Big Financials' Dividend Trap [view article]
- Wait for August FFIEC Call Reports Before Taking a Long Position in Banks [view article]
- Apple vs. Bank of America: When "Whisper Numbers" Come Home to Roost [view article]
- Wall Street Breakfast: Must-Know News [view article]
loading ...Recent BAC Articles
- Thursday Options Update
- American Express Calls Investment Banks' Bluff
- Dow 30 Performance Since 7/15
- Wait for August FFIEC Call Reports Before Taking a Long Position in Banks
- Can Cities Create "Foreclosure Sanctuaries?" [Housing Tracker]
- Bank Bailouts or Bull?
- Beware the Big Financials' Dividend Trap
- Bank of America Buyback Announcement: Who Cares?
- 25 Ways to Tell a Banking System Is Unsound
- Apple vs. Bank of America: When "Whisper Numbers" Come Home to Roost
- Full List of Articles »
American Express Calls Investment Banks' Bluff [view article]
A few of you need to lay off the Visa kool-aid. Just because Visa (and MA) don't hold debt, doesn't mean they aren't dependent on the ability and willingness of their issuing banks to continue lending. ReplyThree Stocks To Be Held To Infinity and Beyond [view article]
In 1987 could the author of this story have easily bought $10,000 worth each of similarly great companies like Gannett (GCI) and Citicorp (C)?? Both these companies are leaders in their industry, have a long and successful operating history and equally long history of raising dividends. Could the original author please be so kind and do a simlar accounting of today's value based on the 1987 purchase of GCI and C? Thanks. ReplyBank of America Buyback Announcement: Who Cares? [view article]
Dusty -Why are you even thinking about talking or listening to a broker ?
If you are on this site you have free access to more than enough resources to be able to handle your finances at LEAST as well as any broker. I bought some BAC a short time ago - I sold some $35 puts for about $3. Got the stock put to me at $35 (of course) so my net cost is $32/share. Now showing a profit and if their stated dividend gets paid I'll have a return of about 8% and then maybe sell some covered calls. I remember when brokers screwed me to the wall - but now there is absolutely NO excuse to deal with them unless you got more money than brains. Reply
Five Strategies to Survive the Markets [view article]
Econ101---bravo 4 the insight/insite. ReplyCan Cities Create "Foreclosure Sanctuaries?" [Housing Tracker] [view article]
bearfund - great idea except SD is a couple billion dollars in debt and are close to filing bankruptcy if they haven't already.And I'm sure there won't be too many lenders willing to lend anything if their collateral will be held captive by the gov't. Reply
25 Ways to Tell a Banking System Is Unsound [view article]
Don’t worry so much boys. The International Bankers have a plan if they crash the dollar into the eternal abyss—merge it with another currency to haul it out of the depths, such as the Mexican Peso or the Ethiopian Birr. That will cure every ill south of the border and/or on the Dark Continent, and will transfer trillions of greedy America’s wealth to a needy cause. ReplyDow 30 Performance Since 7/15 [view article]
America has officially entered the 'Age of Insanity'. Reply25 Ways to Tell a Banking System Is Unsound [view article]
"Bank of America just announced it will not guarantee $38.1 billion in Countrywide debt. Questions over "Fraudulent Conveyance" are now surfacing."Love it. Can FC even be used in a situation like this. Who is the injured party?
Reply
American Express Calls Investment Banks' Bluff [view article]
AXP is the cream of the crop for credit card companies. AXP cardholders charge an average of $12K a year, roughly five times that of Visa or MasterCard holders.Right there you lost all credibility as MA and V are not banks. They do not have the exposure to debt. They are the transaction processors. I thought this was common knowledge by now. Reply
25 Ways to Tell a Banking System Is Unsound [view article]
Norm, your soothing comments about what deposits are "at risk" and which are not must be based on the value of bank collateral and the strength of the economy to create and support jobs, so fine Americans like yourself can keep that mortgage payment current. I personally believe the collateral and the economy will no longer live up to your expectations in an environment where banks no longer sling the easy money, like there's no tomorrow. Reckless lending is what created those spectacular asset prices and the robust economy. Welcome to tomorrow. Replyg
American Express Calls Investment Banks' Bluff [view article]
There is no need for metrics in your article, which, even though I am bullish in general, I have to agree with.For me, the pertinent statement is from AXP: Chenault continued, “In light of the magnitude of the negative economic trends and our experience, we now believe the economic weakness in the US will likely worsen throughout the remainder of the year and negatively impact credit and business trends ... we now expect that our lending write-off rate in the third and fourth quarter will be higher than June levels.”
Add this to what Jamie Dimon has been telling us, again without deceit, and we basically saw 2 straight dudes calling the credit situation as it is (and it ain't looking too good), versus a crowd of shysters and bottom-feeding pumpers selling snake oil.
Saying this though, I really don't want to see those criminal naked shorts back again. Let the markets find their own true levels without any more hysterical bashing or pumping. Reply
r
American Express Calls Investment Banks' Bluff [view article]
Good article. It reminds me of the headlines I saw the other day:"Citigroup Looks Better After $2.5 Billion Loss"
"Citi posts $2.5 Billion Loss, Shares Surge"
What the heck? This goes against every bit of logic and reasoning I know of. Reply
Feader
American Express Calls Investment Banks' Bluff [view article]
You 'mericans can try to spin this any way you want to, but in the end, your just fucked, and I hope you stay that way ReplyCan Cities Create "Foreclosure Sanctuaries?" [Housing Tracker] [view article]
To: bearfund and iThinkBig: God love yas! Nice posts!To:unimpressedpragmati... The judge "has no choice". Don't be a FOOL, fool! You only have to look at the recent gay marriage law in SF, to see how the judges "have no choice". To refresh your memory, the people of SF (that LIBERAL town) voted 71%-29% AGAINST the legalization of same sex marriages, and the judges said: No, its not the people's way, its OUR way! So, in SF the people don't govern, its the judges who make the rules! Wise up! Reply
American Express Calls Investment Banks' Bluff [view article]
The banks still have a way to go before bottom. Let's say I bought a $10,000 plasma TV 4 years ago and only made minimum $10 payments and now the debt is up to $22,000. My house gets foreclosed, but I keep paying the $10 minimum each month.In the meantime, the banks have claimed the $12,000 of interest as profits (seen in accounts receivable). But I'm not going to pay that back. AND I'm not going to pay back the $10,000 for the TV. That means the $12,000 of profit must now be converted to a $22,000 loss.
The banks keep delaying doomsday by allowing $10 minimum payments and increasing credit lines to prevent default. Once CC holders start defaulting, watch out.
It's hard to tell the truth in the banks' financial statements. Ideally, you'd want to compare the accounts receivable and cash flows to historic levels in the mid/late 1990s. With all of the off-the-books special entities, we really have no idea how bad their situation is.
This is a classic case of the emperor's new clothes and cheers to Chenault for not sugar-coating what he sees. Reply