I should know

Increased Government Investment in Banks?

mik123
Nov 04 08:47 AM

If TARP states the money can not be used for acquisitions and can only be used for lending as Barney Frank stated Friday, I don't see how there will be regulatory approval on the PNC -Nat City deal. That's probably why you haven't heard of any other deals. National City can stand alone and save thousands of jobs. TARP was passed to help National City. Blah, blah, blah. . .

Call Latourette, Barney Frank, Sen Shumer and your local house and senate representatives and demand National Citys share of TARP. Blah, blah, blah. . .

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YEA, Barney Frank, there’s a pillar of credibility and knowledge. I think he is one of the miscreants that got us into this mess. Yea, call Barney, call bleeding-heart Shumer, see what those two nincompoops can do for you.

Sorry about the National City stocks you bought on the “recommendation” of 10 or so nitwits.

Writedowns and Capital Raised by Financial Firms

You’ve got to buy when everybody says "sell", and sell when the crowds say "buy". While watching the stock market and getting caught up in the dramatic rise in price and the buying frenzy, I asked my stock broker about Apple stock. He said it was a great buy so I bought 500 shares on 9/18/06 at $73.81 each or a total of $36,905. On May 14th 2007 my broker called and said the stock was up to $109.62, did I want to buy some more. NO way I said, too costly. Through Spring, Summer, and Fall of 2007 Apple stock was going through the roof; it was skyrocketing, it was Wall Street’s new favorite stock. I was really upset with myself because I felt like this express train to financial nirvana was leaving without me. I got caught-up in the herd mentality (sounds a little like the real estate market, doesn’t it?). On December 11th 2007 I frantically called my stock broker and told him to buy 1000 shares; I didn’t care what the price was, I wasn’t going to be left out of this market, these rising prices. The price was $194.75. In February and early March I was tired of the roller coaster ride and was ready to dump everything at about $120 a share; more herd mentality. I still own the stock, I like the company. Wells Fargo is a GREAT, well-run company that’s been around for 156 years. They have a well known and well respected brand name as well know world-wide as Coke and McDonalds. Sure, they are getting beat-up and will suffer additional losses due to the credit and real estate meltdown, but they will be left standing and strong, ready to gain market share from their competitors. I think Warren Buffet is its biggest investor and Wells Fargo & Co is his third most popular stock. I own some WFC stock and I’m not happy about its price reduction, but like Warren Buffet, I’m in for the long haul. When asked “When is the best time to sell a stock”, Warren Buffet answered “Never”.