donzoab

Wells Fargo and US Bancorp - Hitch a Ride with These Two

Please, you have no real concept of what went on at Wachovia. They were the worlds true largest pyramid scheme. Their inept management rewards bad behavior, creates false production numbers that lead to large margin losses, then pays bonus's.???
IF WFC can swallow this culture without bleeding to death I will be impressed. The rats that fled to Morgan Stanley will surely kill them next.

Banking Sector: Band-Aids Just Won't Do It

I totally agree with the author here. Our society today is being destroyed by the utter lack of accountability and responsibility for its own actions. Investors that get burned here have options.
The government can bail out bad mortgage holders but the CEO's of banks and brokerages are getting away with murder. All the profits and bonuses that have been paid out under this system of unregulated greed infested system only line the pockets of a few at the top. The rest lose their jobs, their homes ,their life savings etc.
How do you lose BILLIONS of dollars, then get a bonus to leave the company.??? New CEO's come in to FIX the problem while thousands of hard working employees are laid off for short term savings.? How does this system work any better? Wipe out the common holders (AND TAKE AWAY THESE GOLDEN PARACHUTES) and start over

Meredith Whitney Threatens Severe Deflation For Your Portfolio

very onesided commentary. FYI, although Citi held their value in the 50 range for 3 years it was due to management manipulating their losses to hide this disaster. Looking at the potential losses in credit default swaps would make her predictions seem tame. How about putting the blame where it lays, with the CEO's that overlooked all this credit mess and collected HUGE bonus's while putting the average american home in default risk!!