normthefedup

Break Up the Big Banks

So Avery, what you're saying is that it's NOT ok for the government to bail out the banks (and let's not forget that in most cases they took common stock from which if sold, the government will make an ENORMOUS profit) , it's NOT ok for them to pay back the loans, it's NOT ok to get out from under the government's thumb, but it IS ok for the government to still have enough control to break them up. On what premise? A decree from the Pharaoh? So let it be written, so let it be done?

Financial Stocks Are Ready for Their Pullback

Interesting concept, author. However, in your perpetual moaning about the dilemma that banks, credit card agencies et al find themselves "trapped" in, you keep harping on the "US consumer." If they are, indeed, making money in other areas of the world, doesn't that profit drop into the same pot as the supposed horrendous losses in the US? Don't ALL companies at one time or another, experience losses at one division while making money at another and, overall, have a good corporate profit performance? You cannot emphasize US losses without looking at the overall picture. US oil consumption is down....OK....but China is picking up. Consequently, the price of oil broke $54 a barrel this morning. According to your philosophy, oil should be about $10 a barrel because the US demand is down. Look at the big picture and wake up.

Let's Hurt the American Financial Services Industry

Felix: why don't you vent your venom at the ratings agencies? S&P, Moody's, et al? These useless bastards sold us ALL down the river. Including the bloated banks that your contend caused this problem. I tend to think of myself as a "savvy investor" and I bought Fannie preferreds last March. All based on the "implied backing of the US government and that all-powerful AAA rating." These a**holes have in truth missed the carnage that THEY caused. AAA ratings BOUGHT with monies paid to the rating agencies who prostituted themselves to the entities that invented the garbage that has cost us all so dearly. You're beating the wrong VICTIM here. You have plenty of venom to spew, son. Spew SOME of it in the direction it should be spewed.

Exclusive: Big Banks' Recent Profitability Due to AIG Scam?

I gotta be honest....I'm lost on this one.

Wall Street Breakfast: Must-Know News

Listen..is it just me or am I missing something? Has it REALLY been two days since that idiot Felix Salmon has written something about the "inevitable nationalization of the US banking system?" Or did he finally put himself out of OUR misery???? One can only hope. Go back to writing another set of fairy tales, Felix. It seems to be your expertise. Thanks, US Government, for saving our butts. I know nothing is free, we'll all pay this back eventually. But for today, most of us are still working and eating. Have a great day, all.

Proceeding with Nationalization: Where to Begin

And yet another voice in the wilderness is heard from. I hope you own about 25,000 shares of Citi because you and those of your ilk who keep spouting your negatives opinions are a substantial part of the problem we're now experiencing. You must be related to that other moron, Chris Dodd....oh...he's the head of the Senate Banking Committee. Another one who doesn't have to worry about his 401K or IRA or feeding his family through retirement after this mess finally comes to an end. Of course not, because people like me will be paying to feed HIS family, too. Shut up, author. Keep your opinions to yourself. We don't want to hear it anymore. It's time to turn this economy around and you are NOT helping.

The Market Is Improving, Cancel the Coffin

Author: sanity at it's finest. Outstanding job. It's reasonably obvious that even getting little inklings (spelling?) of good news, the crisis of confidence is going to rule this economy and market for awhile. And human nature being what it is, not to mention the constant doom and gloom from the news, financial stations, and your peers, most tend to concentrate on pessimism. Our situation is not good, but it's not 1932 all over again. Everyone needs to concede that it's going to take time to recover. If I may make a bad analogy, it's like going on a diet and expecting to lose in two weeks the fat you put on over 20 years. Patience folks, just like the diet, most of us are feeling fine, still working, and still eating, but we'll all feel better once we've....so to speak...lost the weight. Again, thanks, and keep up the great work.

Where's the Bottom? Still Anybody's Guess

Smart man, Lloyd, smart man. The best article I've ever read at this site. Excellent, excellent, work.

Banks Scramble to Refinance Their Long-Term Debt

I usually disagree with Michael. I've found him to favor the negativity of what's going on and it's disturbing because, again, there are too many out there on the verge of panic seeking a direction, and more importantly, a reason, to run. And in their panic, they are knocking down and stampeding over those of us who have decided to stand and fight. The current mess with Fannie and Freddie are a perfect example. They were "recovering" (and I frankly use the term loosely) over the last week or so. Some Barron's genius decided they are going down the tubes and the "panicked," let's call them the wildebeest, are off and running again, dragging down the entire market and eroding millions of people's net worth. According to Merrill Lynch, the "analysts," and they have just a FEW of them themselves, are only right 44% of the time. That means they're WRONG 56% of the time, yet they drive the markets...and the wildebeest. Fannie has a $2 billion auction tomorrow, it will be a disaster. If the auction had been Friday, no problem. But now it's Wednesday, post-Barron's, and they'll get crushed. Why? One person's opinion. That is ludicrous. Keep it up folks, the doom and gloom about Fannie and Freddie and all the dire forecasts are about to become a self-fulfilling prophecy. Again...why?...because the analysts, who are right less than half the time....are scaring the wildebeest. Let the panic and stampede begin. It's gonna be a rough ride. I used to be a millionaire. Not after yesterday.

Financials To Resume Meltdown Momentarily

Nice work Jason. I'm constantly the voice of dissention and usually disagree with these articles as sensationalism. Not this time. Whether or not I agree with your conclusions is immaterial. You gave us just the facts, son, and not too much in the way of conjecture. I applaud your honesty, lack of emotion, and reporting acumen. Kudos to you. I hope I see and will seek many more articles from you.

Wait for August FFIEC Call Reports Before Taking a Long Position in Banks

This is a first.....no doom and gloom....just the facts and a strong recommendation to do your homework before you dive in. I've been long in bank preferreds for years and I'm getting killed. Can't bail because I need the income stream...I'm retired....and I can't turn the paper losses into real ones. Here's hoping for no imminent defaults. But I have nothing but kudos for the author on this one. I think his facts are not sensationalism, just the truth, and his advice is good. Nice work....for a change!!!!!!!!!!!!!!