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NYCTEXASBANKER

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  • Bank Of America: The Turmoil Mounts [View article]
    Nicholas P. Cheer

    I do agree that certain OTC derivatives can be as risky as hell, however a lot of BAC is in commodities/currencies which has netting capabilities. As to the FASB, although my wife is a CPA, I doubt it make sense to anyone without an accounting degree so for the retail customers its worthless. My problem with CVA, it's not like the 4pm settle price on the NYSE, I have seen subsidaries of the same financial nstitution use different prices. In fact that one of DOJ gripes concerning LIBOR case.
    Apr 24, 2015. 04:06 PM | 1 Like Like |Link to Comment
  • Moody's Has A Cow, Slams GE's Masterful Financial Engineering [View article]
    rockamur
    yes mco is a great investment, however go back to early 2009 and GE is also over 450% gain and pays more in dividends. As I'm on the road so I can't work out the numbers as easy as at home. I'm sure that both performed well.

    Apr 24, 2015. 03:49 PM | Likes Like |Link to Comment
  • Bank Of America: The Turmoil Mounts [View article]
    darcangelo

    I guess you're unaware that great SF institution nearly went bankrupt 4 times before the 5th made them run to Nations bank for help. Also less southern banks went under than West coast banks during the 1900's
    As a NYC banker I only look at the numbers.
    Apr 23, 2015. 08:37 PM | Likes Like |Link to Comment
  • Bank Of America: The Turmoil Mounts [View article]
    teach english

    While derivatives are risky some have been traded for nearly two hundred years. Its the notation value. In FX you can have a buy and a sell in the same currency with two counter-parties that net to $25 but can have a notational value of $10 mil. Two forwards at 5 mil buy 5 mil sell.
    Apr 23, 2015. 08:34 PM | Likes Like |Link to Comment
  • Moody's Has A Cow, Slams GE's Masterful Financial Engineering [View article]
    rockamur

    GE is over 10 times bigger than MCO. Try apple to apple comparisons.

    Yours is roller skate to a muscle car.
    Apr 23, 2015. 08:29 PM | Likes Like |Link to Comment
  • Bank Of America: The Turmoil Mounts [View article]
    wd40k

    Yes, AG envisioned coast to coast banking but got his NY investment taken away from him by the NY FED. He has the honor to be the first of the 1920's bankers who were chewed up and spit out by the FED. B of A operates in all 50 states but does not have retail branches in all.
    Care to flesh out your statement below
    Something McColl failed to do and the bank is now trying to do - too late!
    Apr 23, 2015. 04:45 PM | Likes Like |Link to Comment
  • Moody's Has A Cow, Slams GE's Masterful Financial Engineering [View article]
    Jerryof NC

    The thing is I know history and I know how things work from my years at the US Treasury Dept. If you re read my comment, I am not taking political sides.
    I understand how government budgets work. My father worked for every Mayor of the City of NY from LaGuardia to Lindsay as their budget assistant.
    Remember the old saying- Those who forget history are doomed to repeat it.
    How many people are like Willie Nelson or Nicholas Cage and are paying off IRS debts. As of 2008 my last year at Treasury 55 million people. That's the problem no one in politics wants to acknowledge.
    Apr 18, 2015. 02:34 PM | Likes Like |Link to Comment
  • Moody's Has A Cow, Slams GE's Masterful Financial Engineering [View article]
    jerry of NC

    Take a ride down memory lane and re read all the times Nixon played the same game as Obama as to multi year spends in one area and hold in another.
    Your problem is not knowing or remembering history. By the way the first guy who played this game was Jackson and that how "to the victory belongs the spoils came about.
    Apr 17, 2015. 02:33 PM | Likes Like |Link to Comment
  • Moody's Has A Cow, Slams GE's Masterful Financial Engineering [View article]
    mydogmoe

    And less than 50 % of what the value was when they took over.


    That why they are called clowns
    Apr 12, 2015. 07:08 PM | 1 Like Like |Link to Comment
  • Moody's Has A Cow, Slams GE's Masterful Financial Engineering [View article]
    mydogmoe

    If you re read the comments few hate the stock, just the clowns who run it.
    We see potential and can't wait until adults run it.
    Apr 12, 2015. 05:46 PM | 1 Like Like |Link to Comment
  • Moody's Has A Cow, Slams GE's Masterful Financial Engineering [View article]
    jerry of nc

    Actually most of the spending a revenue collected depends on the people in the executive branch. On the IRS side politics rein supreme. Whether the left or the right is in control no one lets the political contributors face the music. At this moment over 40k in government employees are behind in taxes. In theory that's grounds for immediate dismissal.
    Try guessing how many billions allotted out to 2020 in various approved entitlements have been spent by this administration before it due date.

    We definitely need to educate congress and the administration in finance and economics, but what we really need is an administration that makes it it's business to correct the actions of the workers so that when caught no further funds are spent unless they are proven innocent and then they get back pay with interest. If convicted the government is paid back with interest all benefits paid since the infraction.
    Apr 12, 2015. 02:47 PM | 1 Like Like |Link to Comment
  • GE: The Problem May Not Lie With Management [View article]
    jerry of nc

    Yes, my first 5 share purchase in 1965 for 92 5/8 became 480 shares over time according to yahoo via 6 splits. Back then buy and hold was the theme. Today because of the various tax laws you need to match some investments to the tax code. Churn is good in an IRA because no tax basis is needed.
    Apr 12, 2015. 01:52 PM | Likes Like |Link to Comment
  • Demons Of Data Deception Belie Bank Of America's True Path [View article]
    vcd103

    Yes, they got us into wars which always produces a great economy that seems to be missed by the media.
    Apr 11, 2015. 10:04 PM | Likes Like |Link to Comment
  • GE: The Problem May Not Lie With Management [View article]
    richjoy403

    My cost for most of my shares are in the teens as I have GE from the 60's.
    I also trade it in some form daily. River might be like me to the point that I know Jeff is one of several CEO's who are truly village idiots however the company has potential. Since 2003 I vote against Jeff realizing that the internal hacks are only interested in their position and not the shareholders. As I own over 275 equities its the fun of the game and I only get to show my view during proxy season to management.
    Apr 11, 2015. 07:11 PM | 2 Likes Like |Link to Comment
  • Demons Of Data Deception Belie Bank Of America's True Path [View article]
    tom sr

    I don't expect any surprises one way or the other.
    Apr 11, 2015. 06:29 PM | 1 Like Like |Link to Comment
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