State Street Corp. (STT)

All Comments on STT

  • commenter
    notsocommons
    ense
    Jul 23 11:55 PM
    The Facts Behind the Coming Congressional Mortgage Bailout Bill [view article]
    Thinker68: Agree that greed and indifference is the root of the ills you've listed. Solutions? Establish expectations, consequences and follow through. "Follow through" , however you want to sugar-coat it, means assessing blame and exacting punishment, or at least do not shield from the natural consequences. I do not believe in bailouts as this sheilds the trangressor from their natural consequences and may even encourage the errant behavior. Further, it is just plain not fair to those of us who live more prudently and do without on a regualr basis so as not to overextend ourselves or incur too much risk. I know about a dozen families who have lost their homes to foreclosure. Everyone is a bit chagrined, admits they lived beyond their means and is not whining for a bailout, but would happily accept one if offered same as if they won the sweepstakes. Everyone has adjusted their living arrangements and is alive and well. They are moving on and forward. I worked for a mortgage bank. They knew full well what they were doing, and loved raking in the handsome profits and bonuses. The loan brokers loved their commissions and were giddy with the knowledge that they faced zero risks no matter what their loan applications contained. The investors who purchased the mortgage securities from the lenders "believed" the securities had little risk, without doing their due diligence in researching the risks. If you purchased a stock based on a hot tip you overheard on the commuter train, and it went south, wouldn't you expect to take a loss and kick yourself for not doing your research? Well, investors of mortgage securities are huge, professional portfolio and/or fund managers, with research staffs and volumes of data (resources not readily available to you and me). Furthermore, analyzing investments is their fulltime job. They knew better, but got lazy or overzealous. None of these folks (borrowers, lenders, investors) should be bailed out. If anything, they should be punished for screwing up the economy for the rest of us. If they go under, so be it. Something that is not working right should be dumped. and make way for new beginnings. The pain from the failures will no doubt be felt by those who failed, but justly so. Gotta clean out the infection so the wound can heal, right? Unfortunately, the pain will ripple out to all of us, and there's no avoiding that. But, hey, we prudent ones have grit and can survive anything.
    Let's get realistic on the gov't's bailout plans. The big investors and lenders are balling and wailing (albeit in private) to the gov't to help alleviate their pain. If gov't can stop the decline in home values, that would utimately help their portfolios. If the gov't can increase the money supply (by extending certain credit facilities), that would help their liquidity problems. If the gov't can keep interest rates low, that would help them raise needed capital and forestall futher foreclosures and further home value declines. See who the gov't is helping? (We are in for a huge in wallup of inflation, eventually.) Oh yes, this is election year, so let's make it look like we're concerned about poor little folks who were innocent victims because that strikes a chord with the common voter, and we need those votes.

    I can take a little pain. Let's have no bailouts. Let whomever will fail, fail, and we'll all pick up the peices and move on. Moving on should include blaming the abuses where they occurred and put a control in place to minimize re-occrrence of the abuse.     Reply
  • commenter
    notsocommons
    ense
    Jul 23 10:29 PM
    The Facts Behind the Coming Congressional Mortgage Bailout Bill [view article]
    USER229893's idea is right on. Hey folks, send your next email to your congressman to pass laws and demand that regulators hold CEOs financially accountable. Enough of this crap where CEOs rake it in while behaving like used-car salesmen for their stock, then screw the company, employees, shareholders, and general public with either their incompetence or devious manipulations, and lastly raid the company coffers on the way out the door. It was former President Lincoln who predicted that if our great nation, with its freedoms to allow men/(women) to pursue that which is in their best (honorable) interests, shall ever fail, surely it will be from within and not at the hands of an outside enemy. Failing from within stems from the inability or unwillingness to discipline negative behaviors and vices within our midst. Abusing CEOs will never stop their arrogance unless we make them. Are you willing and able to work towards passing laws and pressuring regulators to hold CEOs accountable and to give back all their profits when they screw things up and cause great harm to others? Let's get CEO risks and rewards back into balance. The higher the CEO pay, the more potential liability they should face. Email your elected representatives! Most importantly, demand that our regulators stiffen their backbones and do their jobs!!! Reply
  • commenter
    Thinker68
    Jul 23 09:14 PM
    The Facts Behind the Coming Congressional Mortgage Bailout Bill [view article]
    Folks seem to forget the "greed" of the companies who made these loans also was perpetuated by the greed of the stockholders who wanted big dividends but didn't care how they were achieved. Not to mention in the last few years FNMA and FHLMC have been pushed by the government to make more home loans available to low income borrowers which contributed to the problems we face today. How many people across the country have been guilty of "cashing-in" on properties in areas which were known to be overvalued by as much as 80%+ forcing the overvaluing higher and higher till it burst? How many of us shop at Walmart or other big name stores who purchase a great deal of their mechandise from overseas which causes jobs to be lost here and people unable to pay their bills? How many of us find ways to use less oil vs. just throwing up their hands and continuing to drive, etc. as they have in the past which drove up the price of fuel forcing some people to quit their jobs because they couldn't afford the gas to get there?The list of contributors is long and in short there is no one place to point fingers of blame for the crisis at hand, but we all need to be part of the solution instead of worrying about who to hold responsible because in one way or another most of us are. Reply
  • commenter
    fireball
    Jul 22 02:24 PM
    The Facts Behind the Coming Congressional Mortgage Bailout Bill [view article]
    i do not want to help the stupid borrowers who refused to live within their means or the greedy lenders who loaned to these people. USER229893 GREAT IDEA. GALLOP i am glad to see blame placed there and agree but there was a lot of stupid lending right down the food chain too. what i would like is to let the market settle it as A SIMPLER WAY suggests. i as someone who owes no one and has over time saved am infuriated at the taxation through inflation and that other tax dollars are being used. FRIEND the market is a dangerous place. those same bank stock investors recieved dividends and hoped to increase share price. i hate to see anyone hurt but if we want to protect their losses then we must protect every loss. i would never sell naked puts or uncovered calls it looks way to dangerous to me. however if we want it to stop in one sector in fairness should it not stop across the board. we do not have a free market. i wish we did. government cannot keep their dirty little hands out of anything it seems. as much as i would love to see the guilty suffer i feel like there is a gun to our heads if we let justice take the proper course. it is a conundrum that started long ago when the federalis first began to break their chains and to usurp the constitution. we were warned not to allow a national bank. Reply
  • commenter
    Jessica08
    Jul 22 01:00 PM
    My Website
    ETF Industry Data Summary: 1H'08 [view article]
    I think it is great that more investors are investing in ETFs. I just shows that the market players are becoming increasingly aware of the benefits of ETFs over Mutual Funds and individual stocks. I hope to see the numbers grow over the next few years. Reply
  • commenter
    morgan77
    Jul 22 11:56 AM
    Bank Executive Compensation and the Bailout [view article]
    Saw that the housing sector was the big winner last week and did a little more research on it. This article (www.greenfaucet.com/fa...) argues that housing may finally have reached a bottom. Check it out if you're interested in buying. Reply
  • commenter
    mangy cat
    Jul 22 09:01 AM
    ETF Industry Data Summary: 1H'08 [view article]
    quick onceover suggests investors are getting more savvy
    in both diversification, including leveraged funds, bonds, etc
    and intolerance to excessive costs (vanguard flies vs bgi, ssga, holdrs; or at fund level: e.g. vwo vs eem)

    p.s. freudian slip?
    "total ETF asses"?
    (paragraph 2)     Reply
  • commenter
    friend
    Jul 22 03:29 AM
    The Facts Behind the Coming Congressional Mortgage Bailout Bill [view article]
    Foreclosures have been rising at great speed since October , 2007 .

    The timing is matching exactly the slumps at financial stock market .

    These home owners who lost their homes might be the same victims who have suffered grave loss , over the slumps .

    Those who stored their savings in bank stocks which had been stable for about 5 years , would lost most severely .

    They are simple , hard working people but victimized by the naked shorters .

    The immense power of naked short selling drove the bank stock pricings lower than lowest .

    SEC allowed such unlawful manipulation , one article indicated that some published records have shown that some short sold shares were not delivered for over 200 days .

    SEC announced emergency measures to police naked shorting on last Wednesday and somehow two days later , nullify the effect of their own measures by exempting the market makers .

    The requirement of delivering the shares short sold by the next day seems reasonable under the computerized system .

    Naked shortings in the now distressed economy intensify the vicious cycle that spirals towards economic destruction .

    The government has a duty to serve the general public .

    The bailout or whatever one names it , is a measure to reverse the cycle towards a better economy .

    Why not ? I know , you short sellers , don't agree .

    Reply
  • commenter
    User 229893
    Jul 21 04:26 PM
    The Facts Behind the Coming Congressional Mortgage Bailout Bill [view article]
    Every mortgage/banking executive should have to refund all bonus received over the last ten years to cover any "bailout" before the first penny of taxpayer money is used. I imagine that all those executives would find some other way to "survive" without a bailout if the bailout was going to hurt their own personal deep pockets. Or at least there would be some justice. Reply
  • commenter
    A simpler
    Way
    Jul 21 02:57 PM
    The Facts Behind the Coming Congressional Mortgage Bailout Bill [view article]
    We say we are capitalist and believe in free interprise. This is not free interprise. Let the market take its course. If a bank or lending company looses it business so be it. I have always believed that value never looses value and if that is so someone will pick up the pieces from that bank or lending company. I believe if this is to be the case these banks and lending companies will find some way to stay in business and maybe learn a valuable lesson. Reply
  • commenter
    Oltjbarn
    Jul 21 02:38 PM
    Bank Executive Compensation and the Bailout [view article]
    Quetzalcoatl you are on target. Let's all get together an get unscrewed. Reply
  • commenter
    vineet
    Jul 21 02:31 PM
    The Facts Behind the Coming Congressional Mortgage Bailout Bill [view article]
    Paying for homes from IRA withdrawal without tax and penalty is rewarding fiscal imprudence for some and penalsing fiscal responsible people. At the same time, it pushes present problem of falling home equity to more poor old folks whenever they come to age of retirment. Then what? It is better to administer the bitter pill now and seek correct solution then to pass the issue for more misery tomorrow.....
    Reply
  • commenter
    User 229645
    Jul 21 12:24 PM
    The Facts Behind the Coming Congressional Mortgage Bailout Bill [view article]
    Very informative and disturbing. I had a minimal amount of sympathy for the people losing their homes and now have even less. The banks were irresponsible in consolidating their debt and it ticks me off that people don't buy what they can afford instead of trying to live large. Reply
  • commenter
    Albert Meyer
    Jul 21 11:08 AM
    Bank Executive Compensation and the Bailout [view article]
    The Norwegian government considers stock options a criminal activity. The German government wants to clamp down on stock options. Avoid companies that use options to transfer wealth from shareholders to insiders. Pity Countrywide is not on the list - stock option abuse at its very worst. Respected mutual funds owned loads of Countrywide. American workers, trying to provide for their retirement, entrusted their hard-earned wages to these managers, who in turn thought they were investing in Countrywide. In fact, they were bailing out management, who were offloading their stock, took the money and ran, right under the eyes of the SEC and our lawmakers.

     Reply
  • commenter
    vaduz
    Jul 21 09:35 AM
    My Website
    The Facts Behind the Coming Congressional Mortgage Bailout Bill [view article]
    the 2 gse are just to big to let competion in the mortgage business work. thus, make 12 units of them and deprive them of the state help, so they are not privileged banks compared to all others.
    i dont think interest rates would rise - maybe in the beginning, but then competion will work its way through the system and interests should decline.     Reply
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