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  • Bank Of America: Debunking The Merrill Lynch Myth [View article]
    bmulvey and fun fun

    Can you explain why
    Awards & Recognition for Merrill Edge
    Barron's Best Online Brokers of 2014 - 4 Stars 2014 Online Brokerage Review.

    Outstanding customer service recognition from J.D. Power Merrill Edge's Contact Centers Were Recognized by J.D. Power for "An Outstanding Customer Service Experience" for the Live Phone Channel

    How does the bank achieve such awards if
    bankrupt of any management talent- bm
    Merrill Lynch subsumed in its destructive culture-ff


    Apr 5, 2015. 10:03 AM | 1 Like Like |Link to Comment
  • Mayo: BofA too big to succeed [View news story]
    jordan12

    you didn't pay for the bail outs, as no taxpayer funds were lost. As a taxpayer you gained from the interest paid back by the banks that helped the overspending by the government. You also didn't answer my comment: Sounds like a plan, so far your up about 2.50 and have had to pay one or two 5 cent dividends. Where is you stop loss should BAC start to rise rather than decline?
    Apr 5, 2015. 09:56 AM | Likes Like |Link to Comment
  • Brokerages get tough with advisers who break rules [View news story]
    pigeonguy

    You are right, fun fun is from overseas where regulations on banks are much less than here. You'll note the incorrect use of the word cornucopia which he is trying to use for the word abundance but doesn't understand that it is only used in the positive way. By using the it the word corruption which is negative he misunderstands the spirit and derivation of the word.
    He now tells us that by trying to right the ship it will hurt shareholders because he has never understood that by following the rules everyone wins long term.
    Apr 5, 2015. 09:50 AM | 10 Likes Like |Link to Comment
  • Bank Of America: Debunking The Merrill Lynch Myth [View article]
    STONECATCHER

    Yes, the 1994 orange county bankruptcy pointed to many failures in the assumptions made in the CAFR. The biggest problem of "liquid assets" is that when push comes to shove the asset is not really available for sale. It's like the value of a house in bad times we know it has value but with no bids its liquid value is zero. Yes, California is number 1 in agriculture however with the drought
    the expect a negative to gross agricultural sales.
    This is from Forbes
    Taking into account official measures of regional price parity, Texas’ real personal income was about 4.6% higher than California’s in 2011. But this data reflects Texas’ far lower unemployment rate.

    California’s wages, for those who had jobs, were higher. But wages are used to buy goods and services. Once California’s higher costs for housing, food, transportation and health care are considered, Texas workers end up with the advantage: $47,413 in cost of living adjusted average wages compared to California’s $41,680—before taxes.

    The policy differences between the two biggest states result in vastly different outcomes for the most vulnerable of residents. The U.S. Census Bureau recently published a new, more comprehensive measure of state-by-state poverty that took into account cost of living as well as the value of government assistance. This survey showed that California had America’s highest poverty rate, 23.5 percent, with proportionately 42 percent more people living in poverty there than in Texas.
    http://onforb.es/1wUQk97

    In my opinion the worst problem for the citizens of California is that it's municipal debt far exceeds rational numbers. While the two state have per citizen debt of 11k its the local municipalities that are no where close.
    Apr 4, 2015. 08:45 PM | 1 Like Like |Link to Comment
  • Bank Of America: Debunking The Merrill Lynch Myth [View article]
    ecsl

    Awards & Recognition for Merrill Edge

    Barron's Best Online Brokers of 2014 - 4 Stars

    2014 Online Brokerage Review
    Outstanding customer service recognition from J.D. Power Merrill Edge's Contact Centers Were Recognized by J.D. Power for "An Outstanding Customer Service Experience" for the Live Phone Channel
    Apr 2, 2015. 07:18 PM | 3 Likes Like |Link to Comment
  • Bank Of America: Debunking The Merrill Lynch Myth [View article]
    stonecatcher

    I guess you are not aware that AP Giannin wanted to move the bank to NYC after it took over several banking entities here and Italy. His New York branch was forced to become part of The National City Bank of New York the present Citibank. He was not a man who played politics and was against certain powers of the fledgling Federal Reserve Bank.
    In 1930 Mr. Giannini was asked by members of Congress what he thought about nationwide banking. He said, and I quote, "It is coming, gentlemen, and there is nothing you can do to stop it."
    From a assets size Nations and BAC were equal banks, however BAC was in decline.
    Because California is known as the land of fruit and nuts it would be corporate suicide to return because of the poor finances of the state along
    with it's left leaning political spectrum.
    Apr 2, 2015. 06:59 PM | 1 Like Like |Link to Comment
  • Bank Of America: Debunking The Merrill Lynch Myth [View article]
    Investor Psyche

    Thank you for the great article and agree with your assessment
    Merrill Lynch is certainly an amazing and valuable wealth franchise, but is not worth anywhere near $160 billion .
    Apr 2, 2015. 05:47 PM | 1 Like Like |Link to Comment
  • Bank Of America: Debunking The Merrill Lynch Myth [View article]
    FUN FUN

    The author has provided the citation???
    Investor Psyche said
    In a recent article on Bank Of America (NYSE:BAC), the author noted the following in relation to Merrill Lynch (ML):

    In the end, BAC still has tremendous value. The company trades at 0.73x book value and 1.12x TBV. Merrill Lynch, alone is worth more than the firm's $15.60 market value.

    I was quite puzzled by this statement, but unfortunately, my queries were left unanswered.

    He has provided an unsubstantiated comment by not naming the author.

    On the other hand I have also heard exaggerated values of Merrill Lynch

    Apr 2, 2015. 05:44 PM | 3 Likes Like |Link to Comment
  • GE to buy stake in Enel's U.S. renewable assets for $440M [View news story]
    econovan

    Once the systems are up it's a negligible cost to run and maintain. Think of it as a reposition, you may have lost the capex of the project but now you have an income producing asset that might get some or your money back. It could be political but probably not foolish.
    Apr 2, 2015. 04:03 PM | Likes Like |Link to Comment
  • Reuters: Western banks axed 59,000 jobs in 2014 [View news story]
    gwynfryn

    In today's world you need automation because more and more transactions are done electronically. You also need highly trained people to keep the systems running. The biggest problem is the gap between the customer service representative and the technical representative who can solve the problem
    Apr 1, 2015. 12:45 PM | Likes Like |Link to Comment
  • Mayo: BofA too big to succeed [View news story]
    Jordan 12

    Sounds like a plan, so far your up about 2.50 and have had to pay one or two 5 cent dividends. Where is you stop loss should BAC start to rise rather than decline?
    Apr 1, 2015. 10:24 AM | Likes Like |Link to Comment
  • GE to buy stake in Enel's U.S. renewable assets for $440M [View news story]
    bobauten

    Think of it from a different point of view. By investing in a renewable utilities you get to be the prime supplier of the industrial equipment for the building and maintenance of it.
    Mar 31, 2015. 07:00 PM | 8 Likes Like |Link to Comment
  • Reuters: Western banks axed 59,000 jobs in 2014 [View news story]
    OILRICH
    THANKS For the kind words. As any medic will say they were treated by the infantry better than being a general.

    good luck on investing.
    Mar 31, 2015. 04:05 PM | Likes Like |Link to Comment
  • Congress Owns These Stocks, Should You? [View article]
    dectra

    typical government response
    Mar 31, 2015. 12:31 PM | 3 Likes Like |Link to Comment
  • Congress Owns These Stocks, Should You? [View article]
    dectra

    To be considered a bank under federal law you need either to be a bank holding company or the primary institution has to have a banking licenses.
    Lehman had neither. Goldman Sachs converted to a bank holding company during the crisis. Many corporations have subsidiaries that are banks via licenses like GE Capital , American Express , General Motors.
    Just because you work for the judiciary does not mean you understand any of its functions other than the job you do.
    Remember the terms used are sometime distorted. Senators hate to be called Congressman which ask your judge friends about that.
    Mar 31, 2015. 09:01 AM | 1 Like Like |Link to Comment
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