Bonanza36

OpCo's Whitney Explains How to Miss the Financials' Recovery

What a waste of electrons. Imagine TB calling out MW. With his fund down 50% I can't imagine he would have time to write.

Toxic Bear Stearns Mortgage Paper Performing Well

Well now we hear that 39% of ALL subprime loans are in default. Are we supposed to believe that BSC paper is performing any better than the average??

Doubtful.

We should believe what someone at Blackrocks says? So they can sell us their crap sandwiches at a higher price?

Sure thing, you go first.

Ken Lewis on Bank Accounting: Sensible Talk from a Surprising Source

The only alternative to mark to market is mark to myth. That is what got us here in the first place. You can only play hide the weenie for so long. We know the crap sandwiches are there. Denying they exist thru elimination of mark to market is disingenuious at best.

Keep it up Tom, your pollyanish bleating on behalf of these deadman walking banks will be the financial death of your followers.

Market Bloodshed May Almost Be Over

I see you are still here pimping financials. How is that Seacoast investment working out for you.

After you wrote this article C traded with a 4 handle. Even with the Dow off its lows.

Thank goodness no one seems to be following your sage advice. How's that day job working out?

Toxic Bear Stearns Mortgage Paper Performing Well

Let me understand this. The market is wrong and Tom Brown is right. Uh huh.

Mortgages are worth what the market will pay. Brown has lost millions of his customers money but boy is he optimistic.

Financials: Bottoms Happen When Everyone's Convinced They Won't

Wow, ANOTHER bottom is in. Tom, you have a lot of cajones to come here month after month spewing this crap.

Our Advice? Buy the Financials Now

Well, if I had taken your advice, I would be broke by now. Are you completely unhinged?

It's a Great Time to Be a Value Investor

In 1929, the dumb money lost everything. In 1931 Smart Money went broke. It took until 1932 for the really Smart Money to go BK.

All based on "value investing" .

Where are we? 1929.

Young Jeezy's 'The Recession': I Think We’ve Bottomed Out

How many times is Terrance going to call a bottom. He has been so wrong so many times I have lost count.

Terrance, don't give up your day job.

AIG Bailout: Over to Congress

So AIG turned down private equity two days ago and now gets a bailout at my expense?

This is socialism that even FDR could not have conceived.

Calling a Bottom: It's Time To Party

This writer can't even sign his own name. Maybe he is in the federal witness protection program.

Calling a Bottom: It's Time To Party

Ha ha ha ha! Best laugh I have had all day.

Has Berkshire Stopped Insuring Bank Deposits Above FDIC Limit?

Wow, if this is true, it says WB has no faith in the financial system at all!

Housing and Financials: The Worst May Soon Be Over

Mortgage Fraud up 42% accoriding to latest MARI numbers. Maybe we can just pretend the the market is getting better.

Solvency and Liquidity: Non-Identical Twins

If you listen closely, you will hear the banks tell you that they have plenty of "liquidity". They never say they are "solvent".

This is like me saying that I am liquid because I borrowed a $100,000 off my Visa card and put it in my checking account, while at the same time my assets are exceeded by my liabilities by a million dollars.

I am insolvent, but liquid. I am hoping that my creditors are not smart enough to figure that out and come asking for their money back.

This is where the banks are: they are praying for a miracle.

I know lots of folks who are solvent but not liquid. Times are tough for them.

I also know folks who have money in the bank but a negative net worth.

Right now, you need a solid balance sheet and plenty of cash to survive, something the banks have lost sight of.

The banks are "liquid" only because they have used Uncle Ben's pawn shop to hock their most toxic loans, but they are not solvent.

We are simply putting off the day of reckoning when the banks are bailed out by taxpayers. Right now, they are just playing the game of "hide the sausage" and are hoping we don't notice.