Philly Jim

Citi: Expect Strong Economic Growth Worldwide in 2010

Citi better hope for strong economic growth abroad. They surely did use a lot of that American bailout money to expand in southeast Asia. Same goes for GM and other bailout companies that used taxpayer funds to build plants and hire employees abroad.

Credit Card Companies Gone Wild and Other Economic Happenings

If they continue to alienate paying customers with little risk, they will only hurt themselves, but only in America. I have a feeling that Citi is in self-destructive mode, kinda like GM, all in an effort to minimize it's U.S. presence and focus on their international efforts. Believe me, Citi is booming overseas! Doing business in America is becoming somewhat of a liability for multinational companies.

Global Markets in Review: More Thoughts on This Rally

Superb reporting and commentary! This is what an article should look like!

This rally reminds of of a man handing his kid more candy to keep from crying, and the, when the man runs out of candy, and out of ideas, he grabs a gun and demands candy from someone else to keep his kid happy. I'd love to ride this feel good wave, but consumers are being crucified for their Asian buying binge of the past. And how, is Asia holding up so well, without buyers of their products?

This is truly a speculator's market and the big money should stay on the side lines until stability returns.

Bank of America: A Risky Bet That May Be Worth It - Barron's

All the corporations that are getting government bailouts and giving the government shares for pennies are going to take care of entitlement costs in another 10-15 years. All those preferred shares the government is getting will eventually be converted into common when the share price goes up, which it eventually will. Consider it a superb long-term investment where taxpayers are going to make a killing! Other companies may go bankrupt in this economy, but those with the government's backing will survive, which bet is safer?

The Economy, And Why It's Taking So Long to Fix It

I have a theory why: it's not getting well because there is ZERO accountability. Of course there were poor choices made, but there was also a lot of criminal activity and blatant economic debauchery on part of irresponsible and delusional corporate executives who lavished themselves with other people's money. They, are not capitalists according to the American Dream, they are well-dressed criminals with silver tongues and white wings, only there to serve themselves. We also have politicians and political hacks who were more concerned with their own image than the duties they were charged with. Now, we have a socialist regime in power with no idea how to run a free-market economy and its bleeding through the bandages they are throwing over it.

1. Let the poorly managed banks fail
2. Prop up the best managed banks by giving the assets of the failures to them for pennies.
3. Let the market price things
4. Manage the tax payer dollars, don't dole them out to non tax payers like candy
5. Don't repave the roads a million times and call it infrastructure improvements

Wall Street Breakfast: Must-Know News

A friend of mine works for General Motors and says they throw away/waste tens of millions of dollars a day in throwing away perfectly good parts, lavish executive meetings, ridiculous accommodations for incorrigible employees and highly unproductive employees that are protected by the Union.

U.S. Rejects Nationalization of Citi and BAC

How about we just put responsible adults in supervisory positions, rather than political cohorts! The Bush administration was the greatest destructive force to our government in our nation's history. They systematically placed "know nothing" cronies in critical positions to govern and regulate the marketplace, not to mention almost every other aspect of our government. It was basically eight years of get-rich-quick scams on a massive scale, both in the public and private sectors!


On Feb 21 04:34 PM apppro wrote:

> What your headline should have read is:
> "US Rejects Short Sellers of Citi & BoA"
>
> This is what we need. Just stop the Shorting of America and things
> will work themselves out in a normal - rational - timely basis. Nothing
> will recover, nor will as they put it allow investors BACK into this
> market, as long as the rules are so bent by short sellers and no
> one is seeing the reality of it. All they can do is blame the CEO's
> and all those good people who are just trying to get things back
> to normal, so to speak.
>
> The 4 Golden Rules
>
> 1. Reinstate the Up-tick rule
>
> 2. Crack down on naked short selling
>
> 3. Institute some rules on what should be said on National TV to
> prevent rumor-mongering
>
> 4. Pass a Wind-Fall Capital Gains Tax of 65% on ALL short sales retroactive
> to 01/01/08.

Turning Japanese: The Audacity of Reality (Part 3 of 3)

Getting rid of the bad banks by letting them fail will cost taxpayers more than letting them survive and repaying their debts.

Is Nationalization Contagious?

Even under the super liberal Obama admin, nationalizing Citi or Bofa is out of the question. They understand the psychological calamity in investor's psyches which would ensue. Not to mention the long-term, political implications in a society which thrives on capitalism. Obama's team is smarter than that; they will find ways to maneuver around the mega losses, break the banks into segments and consolidate losses into specific segments while allowing the others to generate profits which shareholders demand. I only hope the democrats have learned their lesson, you don't pressure GSE'S and other banks to lend to unqualified borrowers simply because certain political pressure groups demand it.

Vikram Pandit Rejects CitiSachs?

With feuding like this in the banking industry, who can you trust for an unbiased analysis of fundamentals other than yourself?

GM, AIG, Fannie and Freddie: Bailouts in Common?

The government shouldn't be in the business of keeping failing businesses in business. The market determines which businesses thrive and which die. This is what encourages innovation better business practices, this is what keeps the U.S. ahead of the curve -not bailing out failures.

The government should consider funding new and innovative start-ups like Tesla Motors rather than pump more money into corporations like GM that are being run into their graves by failed leadership that is disconnected from the new generation of consumers.

The Year of the Bear

A banker friend of mine has suggested this entire financial crisis is consolidation of wealth and power in order for the U.S. to stave off a rising superpower we know as China from becoming the world's most powerful financial/military force. I don't want to repeat the entire conversation but basically this is necessary and people in the U.S. and Europe need to hurt financially and stop buying imported stuff for a while. Those who are smart will survive; inverse etf's, gold, currencies, s/t treasuries.

The Coming Crash of 2008: A Result of Overleveraging

This Fed is very concerned and involved. Getting down the national debt and invigorating domestic manufacturing is working so far; when we are out of this sub-prime mess, they will probably attack the price of commodities and allow the dollar to strengthen some. Further down the line, we could expect much more regulation but at the same time, more innovation or more involvement by regulators in assisting with innovation which will put the U.S. back on the edge of the financial game.

Are These "Once In A Lifetime" Moves?

Anyone with internet access now can trade stocks and have their trades executed within 5 seconds, it's no wonder we are seeing the moves we are in stocks. Investors no longer want to wait for six months while an analysts predictions kick-in; they would rather have it kick-in in 6 days, an hour becomes a minute, a day an hour, a month a day, a year a month, a decade a year. Just like global warming, everything is moving much faster these days.

Just look how fast the Chinese move! They were in the 16th century less then 50 years ago, now they are in the 21st and rapidly moving ahead of the developed world. There are some really motivated people who have emerged in the world and dust doesn't seem to be settling under their feet.

Death of the mutual fund? ;)

U.S. Mortgaging Its Future for Sovereign Fund Investments

Pray for a Romney nomination. McCain & Clinton = same same The U.S. has been run by a puppet government for the past 8 years, it's not wonder we have to now sell ourselves to Arabs and Chinese. I don't think it's that big of a deal either way. These Sovereign funds are simply making kind gestures in our time of need, they have an interest in keeping the U.S. consumer buying their oil and junk. If it weren't for gullible American voters electing a phony cowboy to office, we wouldn't be buying Arab oil and Chinese junk. Just think, we were asked to go shopping after 9/11 ! Washington D.C. needs to be turned upside down and shaken out.

Vote Romney for a lean, mean American machine! Romney '08 !