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NYCTEXASBANKER

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  • Reuters: Western banks axed 59,000 jobs in 2014 [View news story]
    Hussein hired

    You need to understand that technology in banking makes about 4% of the workforce vulnerable annually. If transaction growth is anemic then jobs are at risk.
    Mar 30, 2015. 08:13 PM | Likes Like |Link to Comment
  • Mayo: BofA too big to succeed [View news story]
    Tom SR

    You're right the two lefties who created DODD-FRANK caused two unintended consequences due to their lack of financial knowledge (their politics got in the way) 1] TBTF became set in stone when they prevented the super regionals from providing competition. 2] By over regulating the smaller institutions can not compete because of the paperwork involved.
    Credit unions are great for the lower economic transactions (checking and saving). As soon as you want to do elaborate transactions you need a commercial bank.
    Mar 30, 2015. 04:07 PM | 2 Likes Like |Link to Comment
  • Mayo: BofA too big to succeed [View news story]
    Nicholas

    I have to disagree, just by working for an institution doesn't mean a damn on how a department / division is working or not working. Until someone comes in with authority to change things in the area that are not working it continues to go down hill. I guess you never worked at an organization where there was mismanagement. When I joined Lucent Technology in 2000 after 3 months I said that the division I was in would not last 24 months unless the did some changes. Half the division closed June of 2001
    and lost it biggest custom Verizon by 2003.
    I think two things will happen over the next 21 months 1] rate hikes two or three small ones. 2] Europe will not improve substantially therefore between the rate hikes and a lot of oversea money will help BAC.
    Only time will tell
    Mar 30, 2015. 03:13 PM | Likes Like |Link to Comment
  • Reuters: Western banks axed 59,000 jobs in 2014 [View news story]
    macattack12

    Get the facts right bank bailouts do not use taxpayer money. Where the taxpayer lost money was the bail out of GM & Chrysler.
    The money to banks were paid back to the US TREASURY with interest.

    As a taxpayer go ask the auto unions to pay you back they got the free ride.
    Mar 30, 2015. 02:59 PM | 3 Likes Like |Link to Comment
  • Reuters: Western banks axed 59,000 jobs in 2014 [View news story]
    oilrich

    JPMorgan will be laying off a lot of people over the next three years.
    The old adage in banking was transaction growth percentage minus 6% equals the number percentage of jobs lost to technology.
    Mar 30, 2015. 02:56 PM | Likes Like |Link to Comment
  • Mayo: BofA too big to succeed [View news story]
    Nicholas

    Funfun made the same argument that you should take the day Moynihan
    became CEO as the starting point. I mentioned to him that to really measure a CEO you need to consider a probationary period for on the job training of staff as you reform practices and procedures for each department or division of the entity. I, myself have had to rearrange several departments and each one took nearly a year. For the size of BAC, I would think the challenge would be a two to three year affair. Now I realize the buck stopped on day one with Moynihan however a realistic judgment of the situation should start in the 2012-3 timeframe. As I said before the looking at indexes are faulty because you are trying to compare an apple to an orange. They just took out ATT recently from the DJII.
    The reason I mildly bullish is that the statue of limitation kicks in on many levels this year so that might be the light in one of the tunnels. Another is we may see some rate increases which is another possible light. ML edge might be a big boost to volume and synergy.
    I look at the glass is half full while others see it as half empty, I plan to keep trading until the numbers start to decline.
    Below I mentioned to Jordan 12 that I think we will be better off in 2017 with a position in BAC.
    Mar 30, 2015. 10:11 AM | Likes Like |Link to Comment
  • Congress Owns These Stocks, Should You? [View article]
    DECTRA

    Sorry again you can't read nor do you understand how financial institutions work. Like you said in the beginning Lehman Brothers, a sprawling global bank. There is a DIFFERENCE between a bank and a securities firms.
    You might remember the FEDERAL RESERVE forced some securities firms to become bank holding companies so they could receive assistance. Your comment it was the fourth-largest securities firm means nothing as to real size. Right now TESLA is the THIRD largest American auto manufacturer in the USA and they make lees than 40,000 cars a year.
    As to the Federal Judiciary want to explain the screw up in the Ellen Pao vs Kleiner Perkins case from last week how some one did not check that each verdict had 9 votes?
    Accepting your statement I work with federal judges you can explain how they screwed up.
    Mar 30, 2015. 09:38 AM | 1 Like Like |Link to Comment
  • Mayo: BofA too big to succeed [View news story]
    jordan12

    if that's your view sell or short the stock, then in two years see what happened, my bet you will regret it
    Mar 29, 2015. 12:06 AM | 1 Like Like |Link to Comment
  • Mayo: BofA too big to succeed [View news story]
    FCHILDR131

    Yes, when I worked for Chase p/t in 1962 they were only allowed to have branches to the five counties of NYC. By the end of the decade we had the ability to have intrastate banking. Banks have always had internal securities who traded for the wealthy and on be half of the bank. Now that they allow synergy of banking and brokerage to retail it has become slowly profitable. The Merrill Lynch edge is beginning to add serious customers.
    For that reason it makes no sense to break up unless the government gets involved.
    Mar 28, 2015. 11:07 PM | Likes Like |Link to Comment
  • Mayo: BofA too big to succeed [View news story]
    FCHILDR131

    Every bank does better to have a securities firm in house to break up that situation would be a poorly advised.
    Mar 28, 2015. 08:47 PM | 1 Like Like |Link to Comment
  • Mayo: BofA too big to succeed [View news story]
    GUPTASHI

    In 2010 the unemployment definition was changed. Research the labor utilization numbers and it breakout data. I am very happy with the law that pre-existing conditions are now accepted however you need to see the numbers of actual coverage. Remember the boomers began being covered by Medicare in 2011 so they have been counted as part of obamacare when they should not have been.
    I also have been a democrat for my whole life.
    Mar 28, 2015. 04:33 PM | Likes Like |Link to Comment
  • Mayo: BofA too big to succeed [View news story]
    guptashi

    if you think obamacare has helped ordinary Americans you need to do more research. Especially the numbers of part timers who would want to work full time if they could or the number who lost the health care plan/or their doctor.
    I agree with raising the minimum wage but you might like to look at the unintended consequences that happened in Massachusetts the last time they raised it
    Mar 28, 2015. 02:16 PM | 2 Likes Like |Link to Comment
  • Calumet names Hatch interim CEO, Grube becomes Executive Vice Chairman [View news story]
    BOUSINVESTMENTS

    With the USA in a decade plus of energy growth why would you be against capital projects?
    Mar 28, 2015. 02:11 PM | Likes Like |Link to Comment
  • Mayo: BofA too big to succeed [View news story]
    deal junky

    I don't think so, but my short calls and long put will be happy
    Mar 27, 2015. 08:39 PM | Likes Like |Link to Comment
  • Mayo: BofA too big to succeed [View news story]
    ASKYLE

    Interesting that 40 % of the applicants could not get a conventional loan while 20 % lost at flipping houses. Bottom line the LICENSED real estate personnel were suppose to be the gate keepers for the GSE loans so spare me the false modesty of the industry.
    Mar 27, 2015. 08:37 PM | 4 Likes Like |Link to Comment
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