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green_valley

green_valley
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  • Bank Of America's Future Depends On This [View article]
    Bank of America needs a new CEO. Moynihan is a jibberish fast talking lawyer and is one of the good ole boys who got the bank in trouble. He is NOT credible.
    Remember when he went on CNBC he annouced raising dividends to Maria Bartelomo? Iin a few days we learned they did not qualify? Many buyers got sucker punched.
    Remember when he sold bonds at a discount to Buffet ? The stock bounced a little though it was actually dilutive. Professional investors were upset because they were excluded.
    Remember the charges he implemented for debit card transactions? Lost a ton of accounts permantly. Stupid.
    The current CC was presented in a deceptive manner. The result would have been the same if it was presented properly. The damage to BAC is of integrity.
    Moynihan is an attorney, a good ole boy. 3 years is too long. We still have little clarity, and worse credibility.
    I am long Bofa and the stock is properly priced, discount is not real when/if they mark to fair value. The feds are not the problem. Other banks are recovering nicely.
    Jul 21, 2012. 12:11 PM | 3 Likes Like |Link to Comment
  • Merchants (in a class of seven million) reach a "historic" $7.25B settlement with Visa (V) and MasterCard (MA) over transaction fees, in an agreement that also involves card issuers including JPM, BAC, C, WFC and COF.  [View news story]
    Debit cards debit your account immediately. I have not tried using it w/o funds. You can dispute a purchase with a credit card. I have not done that with a debit card so there may be a few differences.
    Jul 15, 2012. 07:22 PM | 2 Likes Like |Link to Comment
  • Twelve global banks publicly linked to the Libor scandal face as much as $22B in combined regulatory penalties and damages to investors and counterparties, according to admittedly "crude" Morgan Stanley estimates. The calculation excludes the potential fallout from ongoing U.S. and EU cartel investigations, which could result in multibillion-dollar fines.  [View news story]
    The FED are the banks. So they bailed themselves out using the US Treasury money, the people's purse.
    Jul 15, 2012. 05:19 PM | 1 Like Like |Link to Comment
  • Keryx: A Lot Can Go Wrong At $2 [View article]
    The spending on Perifosine trials stopped on April 2, and on May 7th they returned the license to the original owner Aterna Zentaris.

    On May 9, Kerx sold 7 million shares for 4.9 and raised 33 million.
    The dilution happened since March 31.
    http://reut.rs/O0RclL

    Kerx is to receive 100 million from Torii for their partnership on Xerenex in Japan. They have received 28 million thus far, and the so far, PIII milestones are being met, trials should finish by EOY. They will also receive royalties from Torii for sales of the drug in Japan. Kerx is running PIII trials in the US for Xerenes.

    Expenses are the Xerenex PIII trials in the US but imo they are well covered now.

    Just trying to provide the facts.
    http://bit.ly/MrXSNL;highlight=
    Jul 15, 2012. 05:09 PM | Likes Like |Link to Comment
  • BofA Wins Big In Court, May Have Finally Contained Countrywide-Related Lawsuits [View article]
    Foreign investors are super tough bargainers, mostly cash buyers.
    There are mostly American buyers who are trying to buy homes but the banks are being super tough and inventory is low. In the older days it was usually 20 percent down and proper verification of earnings and debt. In the Bush days you could buy with the 0 down and "stated" earnings qualification. Banks were very irresponsible.

    An increasing trend is that some banks are partnering with investors or contractors who are adding money into the house and flipping them for a profit. I like that idea since it provides work for contractors. The problem is when they get greedy and price it too high.
    Jul 15, 2012. 01:59 PM | Likes Like |Link to Comment
  • Keryx: A Lot Can Go Wrong At $2 [View article]
    The author also missed out on the nice financial situation with Kerx who are/will receive nice fees from their Japanese partner and keep them well financed.
    Jul 13, 2012. 01:36 PM | 1 Like Like |Link to Comment
  • Twelve global banks publicly linked to the Libor scandal face as much as $22B in combined regulatory penalties and damages to investors and counterparties, according to admittedly "crude" Morgan Stanley estimates. The calculation excludes the potential fallout from ongoing U.S. and EU cartel investigations, which could result in multibillion-dollar fines.  [View news story]
    Robo signing. That's forgery. In Japan the CEO would be forced to resign. In China he would be hung. In the US, he blames the economy and scams the overdraft charges, and makes himself a hero. lol
    Jul 13, 2012. 09:47 AM | 4 Likes Like |Link to Comment
  • BofA (BAC) has been cutting jobs in its commercial banking unit, sources say, part of the bank's efforts to cut costs while simultaneously trying to grow in a tepid economy.  [View news story]
    Prior administration allowed the greedy banks to run hog wild, policing themselves. Did not work. Why? Greed. We need more banks that will provide real service. Not screw people after they buy up all the little banks .That is called a monopoly, capitalism gone wild.

    I am not for saving BofA and top management's job with humongous salaries and bonuses by paying for it with new charges. Lay them guys off first and save a billion.
    Jul 12, 2012. 09:33 AM | Likes Like |Link to Comment
  • More on the expected new debit-card processing rule: Regions Financial (RF) faces the biggest (4%) hit as a percentage of earnings. Other banks seeing revenue losses: JPM, WFC, HBAN, MTB, STI.  [View news story]
    That only if they let you go back. BofA makes debit cards mandatory on several of my accounts. Only alternative is to shift to another bank or credit union. Some merchants will not accept personal checks, like Lowes.
    Jul 12, 2012. 09:19 AM | Likes Like |Link to Comment
  • Micro Cap Biotech Stocks Being Accumulated By The World's Largest Money Managers [View article]
    How about other small ones like NWBO, CVM, IMUC, NBS.
    Jul 11, 2012. 10:47 AM | Likes Like |Link to Comment
  • Bank of America (BAC) efforts to help 60K homeowners slice a large chunk of principal of their mortgage balances are falling short of expectations as more than half haven't responded to mailings from the lender. Other large lenders are reporting far better success, suggesting some truth behind anecdotal reports of the difficulties of dealing with BofA.  [View news story]
    lol. Its just like a lawyer trying to contact the underwater guy who is not paying. My friend contacted them to refi and they never get back to him and he is clean. Seems they prefer to keep the old loan of 5.5 %. A refi would save him $750/mo. Greedy bank run by a lawyer.
    Jul 11, 2012. 10:00 AM | Likes Like |Link to Comment
  • Bank of America (BAC) could lose a $480M revenue stream (3% of 2011 earnings), says Matthew O'Connor, thanks to expected new rules requiring banks process debit card transactions in the order they occur rather than from largest to smallest. Several big banks have already changed, but BofA - among others - hasn't, and continues to enjoy the easy money.  [View news story]
    BofA is run by a lawyer so whad do you all expect?
    Sneaky.
    Jul 11, 2012. 09:50 AM | 1 Like Like |Link to Comment
  • BofA (BAC) has been cutting jobs in its commercial banking unit, sources say, part of the bank's efforts to cut costs while simultaneously trying to grow in a tepid economy.  [View news story]
    They could have shifted these guys into the home loan section where there is a huge demand. Easy money, even if they have to adhere to tighter guidelines. They can package these loans and sell them to Fannie Mae or Freddie Mac and make tons of money. Like they used to do before, except they have to work for it this time, instead of sliding through any ole crappie loan. Alas the CEO is concentrating on shafting customers on their savings and checking accounts with dingy and hidden charges, and when that happens, the customers switch to other banks. What do you expect from a lawyer?
    Jul 11, 2012. 09:45 AM | Likes Like |Link to Comment
  • BofA Wins Big In Court, May Have Finally Contained Countrywide-Related Lawsuits [View article]
    Received similar advice from an old timer pro when I asked him if it was a good time to buy a home. "If you try to time it, you could make a mistake. Buy property in a good location and buy when you can afford it." Never forgot that.
    Jul 6, 2012. 09:38 AM | Likes Like |Link to Comment
  • While BofA (BAC) paid just $2.5B to buy Countrywide four years ago, the deal has since cost the bank over $40B in real-estate losses, legal expenses and settlements with state and federal agencies, the WSJ reported on Friday. BofA could face further legal liabilities $5B as lawsuits rage across the country.
     [View news story]
    We've had Brian Moynihan for three years after the debacle and he has been making bad to worst decisions. 2 trillion dollar company is 1.9999999 trillion too big for him to handle. What do you expect from an attorney? Imo, he treats BAC as a client and he ain't telling S/Hs anything except bs and giving customers the shaft. We have been stuck and things are still as cloudy and murky as before.
    Jul 5, 2012. 09:20 AM | Likes Like |Link to Comment
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