drmalaka

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    • Tue Mar 18th 13:28 PM | Rating: 0 0
      Commented on:
      The Coming Crash of 2008: A Result of Overleveraging
      Judging from these comments I could not be happier being short. How come everyone is looking for a bottom six months after the top? The top was completely artificial, based on historically high PE ratios and net profit margins.

      Stop looking for a bottom in these financials, these are criminal enterprises that stole billions of dollars from their shareholders and to think about investing in them is rediculous. The Fed told us yesterday that they will save the markets but they will not save equity investors in these crappy companies.

      This is the same idiotic attitude everyone took with ABK, every other Friday there was a new rumor, first one sent the comapany to 12.5 the next one sent it up to 11.5 and now it below 6.

      This economy is a mess. We Americans are a joke. We have spent so far above our means that we have no way to go but down. How many idiots took equity out of their house to buy a new Hummer with 22" wheels? Everyone in this country thinks they are entitled to live this incredible standard of living, flat screen tvs in every room, new lap tops, new cars every three years. Then we look to the government to bail us out. Where the hell do we think the money is coming from? Cool, we tried to help this recession with a stupid 150b stimilus package that we billed to our kids.

      For all you bulls who have found a bottom, what makes you think consumers are going to be spending a lot in the comming months? With what money? With the money they have to spend on high priced gas and food because our Fed keeps inflating our every day expenses to save these criminal bankers who should probably be lined up against a wall and executed?

      I have been praying for years to see $5 gas, I just can't believe it happened so quickly. There is nothing more satisfying to me than seeing the look on the faces of people spending $100 to fill up their SUV that they drive around in alone.

      And for the economic illiterate that said if Obama gets elected then we will be in better shape. Please drop me a line, if he gets elected I would like to sell you all my stock. Yeah, a socialist is going to help markets. Taxing corporations and capital is the way to spur an economy on. Hmmm, who can do better with capital, smart people who made the money, or lazy, stupid, economically illiterate leaches that suck off of society?
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    • Mon Mar 10th 01:58 AM | Rating: 0 0
      Commented on:
      Memo to MBIA: Now Is Not A Good Time To Fire Fitch
      Tom, don't you feel a little worried defending MBIA or Ambac? Lots of people have done that for the past year and they all have egg on their faces.

      How can you believe anything these confirmed liars say?

      So we will insure bonds with three rating agency AAA ratings but if any of those agencies lower our rating we will fire them and keep the good ones. By good I mean those that lie for us and keep us afloat another day.
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    • Sat Mar 8th 02:30 AM | Rating: 0 0
      Commented on:
      Ambac: Dialing for Dollars
      I did read that the CEO bought 25,000 shares, wow that is a serious commitment at $6.75 a share. Then he goes on CNBC and says that they can cover all their potential claims. This guy is just like the MBIA guys, every time they open up their mouths it is either bad news or a lie. How can $1.5 Bil help these guys out? Now really. Plus I heard that a portion of that will be paid as a dividend to the holding company. Are you kidding me?

      I can't figure out who was buying this thing up after hours today. I think people still do not get how useless these companies are. Everytime one of these companies announces something they stave off another big drop in their stock for a few weeks: ABK, MBIA, TMA, CFC we just keep seeing the same things happen time after time.

      The funniest thing about this entire mess is that Ackerman is the only guy who has had it right the entire time and his solution is really the only viable one out there. The problem is that none of these guys wants to admit he was right on top of the hundreds of millions of bucks he made.
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    • Fri Mar 7th 19:10 PM | Rating: 0 0
      Commented on:
      Financials and Retail: Not as Dire as They Seem
      This might not be the best way to read corporate financials Philip. You might want to check EPS and PEs instead. B of A is a much bigger bank since 2003 so we would expect them to be making more money just because of the aquisitions. But there are more shares outstanding now, so you must compare those relative numbers not absolute values.

      As for your calls, the least you could have done is picked some of the better financials. WM is as bad as they get. July 12.5 cheap? I have a feeling WM did not make a loan unless the borrower promised to default. Single digits very soon for this one. And C is no better. They raised cash ten points ago at an 11plus percent interest and now they need more money. I am not sure if the conversion price for the note includes a ratchet down protection like the one MER has, if C has this too then raising money through equity is even costlier.
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    • Sun Feb 24th 11:31 AM | Rating: 0 0
      Commented on:
      Housing Bailout: Crony Capitalism Comes to America?
      Truly an intellectually lacking article. Unfortunately this is what is considered intelligence in today's society. Scary to think this man is teaching economic students this garbage. This is not an article about a bailout, it is an article supporting socialism, every sentence drips for contempt for the capitalist system that has made this the greatest country in the world.

      The problem with our system is not that it is broken, it is that the government, charged with protecting its citizens, does nothing of that nature. People who do wrong need to be punished severly, not saved by those who work hard for their money. Protectin citizens is punishing those who do wrong, not rewarding those who do wrong or make lousy choices.

      How can anyone take any economic analysis seriously when the author quotes Paul Krugman who has spent eight years being consistly wrong on everything. I have a monkey that has more economic sense than him. Krugman is not an economist, he is a politicial hack, just by reading him and quoting him we know where this article comes from. I am sure Marx could teach economics at Princeton or UCSD but that would not make his ideas right, reality has already proved him wrong.

      For some reasons people like Mr. Hamilton make excuse after excuse for why socialism fails in every attempt (other than of course killing 100 million people) but the greatest capitalism system that created the greatest country in the world is a failure becuase there are poor people. Well a system with 5% poor (most of which are lazy dumb people who make bad choices) is better than a system where everyone except the rulers are poor.

      And who the hell mentions the Keating 5 after all these years. I wonder if the author has the NY Slimes article about McCain on his mind? As for the insinuation that the financial industry owns the current administration and the poor and uninsured have no contacts, last time I checked every wall street loser was lining up behind Hillbama. And what do the uninsured have to do with the housing crisis. You bought a house you could not afford so that has something to do with your health insurance?

      As for the points. "Even as we acknowledge that laissez faire is not tenable." Who acknowledged that? It is certainly untenable when our first reaction to things is to have the government come bail us out and then figure out what regulations can be put in place for the future. Which is a great idea, becuase when we put more regulations on the economy we will undoubtedly have fewer bribes paid by the banks to politicians to have those regulations help the bankers. Regulation stifles competition, so established institutions do not mind them that much. I wonder why it costs hundreds of millions of dollars to take a company public, could it have something to do with the lack of competition?

      How about this idea. The banks who allowed this to happen out of sheer greed go under. The bankers who made tens of millions of dollars over the last five years creating these products get sued by the banks so that they have to return their enormous bonuses they stole from the American public (I personally would like to seem them punished a little more physicaly by the people who they screwed over, but violence is never the answer). The people who made bad decisions and bought homes they could not afford get kicked out on the streets. I keep my money that I worked hard for, creating my own company, sleeping on a floor and not buying a thing for myself for two years.

      Where is it right that the responsible people in this country have to pay for others' mistakes? How in the world is this not going to happen again? Oh, new regulations! Do you think next time the bankers will steal money the same way? Every ten years they find a new way to rip off the American public.

      All my sympathies to anyone who has to pay to learn economics from this intellectual light weight.
      View article »
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