waf76

David Einhorn: Break Up Too Big to Fail Institutions

The real danger in our political system is that the special interests have already hijacked this country without the majority even knowing it. As an American, I want my politicians to put America first, no country in the world can possibly have the identical interests as we do. I want lobbyist groups like AIPAC, who control our foreign policy to register as foreign agents. I want the Fed abolished. We need something other than a two party system. I can't decide who i hate more, the republicans or the democrats. All the write things are spoken in the run up to elections but once they are elected, certain actions that people voted for are now deemed 'politcally untenable'. Our system is a joke.

One Year Since the Banking System Collapsed. Has Anything Really Changed?

Sadly I agree with your sentiments. The American people were hoodwinked once again. Can the war party have come up with a better candidate than Obama? Its like a match made in heaven. Its like firing the disciplinarian coach for a more player friendly one but not changing anything about strategy. It speaks to our ignorance, lack of knowledge, or lacking of giving a crap. We have 48% voter turn-out for a reason. We have been successfully distracted. Who cares what the gov't does, the NFL begins on Thursday.

How Stocks Perform After Being Added to the Dow

I'm guessing a pharmaceutical

The Virtue of the Republic

common sense is not so common. government has been and always will be about controlling the masses. what better way to control them then to have them do it willingly? Patriot act?...the players in the game get a do over when they screw up. privatize the profits and social the risk. at the end of the day there has to be a winner and a loser and these guys are not going down without a fight and society is too busy to meticulously follow what is going on...people have to work to pay their mortgage or rent, feed their kids, pay the utilities, etc...we're distracted so we outsource these decisions to them and thats what we get for not following attentively...instead we're watching the yankees, the mets, the nfl, reality shows, or whatever else is on the 1000's of channels...who's gonna watch cspan and see what our leaders our deciding for us? not me...and thats why we are where we are...

Bank of America Doing Worse Than Citi?

BAC is gonna skyrocket. ITs still in better shape than C. The government owes them a favor after the Lewis-Bernanke-Paulson Merrill fiasco.

Why This Rally Is Unsustainable

I think most of the comments are quite negative when NS is pointing out the obvious. The financials appear to be looking healthier than they actually are. This does present speculative opportunities so I just accept it as part of the game and my investment and trading decisions take this into consideration. Next quarter earnings for the financials should be interesting. I agree the rally is unsustainable but who knows for sure. If enough sidelined money comes in then maybe, just maybe....ah well we can hope right...

What Shorts Did Ahead of Citigroup Announcements

I agree, let the shorts make their dollar per share while us longs make 1000% on our holdings. There is no longer any fear of nationalization.


On Apr 17 09:30 AM David White wrote:

> In other words Citi actually made $.06 if you subtract out the charge
> from revising the conversion price on preferred stock. This is quite
> a change from last year. Does this mean the situation is rosy for
> Citi? Of course not! However, this stock was in the $50's less than
> 2 years ago. This is clearly a step in the direction of returning
> to that valuation.
>
> This morning it looks like the short sellers are trying to start
> a move to the downside. Citi is short 22% of its float. This seems
> likely to be so they can get out. BAC reports on Monday. They are
> likely to have one of the best banking results yet. This is likely
> to drag the financials up still further. It may not be in stock holders
> best interests to play the bears' game on this one. Punish those
> negative gluttons today. They have made a lot of money as the market
> has gone down. Is Citi returning to $1 over the longer term? I doubt
> it. Citi is more likely returning to $20 to $30 within the next 3
> years (perhaps sooner). This would be a huge profit for most people
> (a 5 to 8 bagger in the words of Peter Lynch). If you ignore the
> short sellers, this stock may really shoot up. The shorters will
> have to cover, and there are a lot of them.

The Next Leg up in Financials

Jason is right. I was very bearish on the financials but can't help to see this as a buying opportunity. I didnt pull the trigger on ETFC like i wanted and the stock has jumped 40% in the last 2 days. At least I got in on some BAC under 10 which is what i was aiming for. I'm very bullish on BAC. For C I will wait until they report their earnings and some profits are taken so I can get it around 3.25 - 3.50

Bail Out for Dummies - Part I

Greed and fraud are rampant in our society and our elected leaders represent the worst of us rather than the best in us. If they allow this daisy chain scam to go forward unabated it merely means they have fully yet come to grips that we live in a new world. Wall Street is clamoring to go back to the good old days which are long gone. Middle class America is getting raped by the people they put in office, in broad daylight, and have to watch their kids and future generations get raped all in the name of keeping Wall Street big shots rich and the military empire fully funded and incompetent who can not achieve any objective they put forth and causing many other unintended consequences that will surely result in more negatives that we can't even begin to imagine or foresee.

America's Banks: Are They Really Insolvent?

Banks are completely insolvent, it doesn't matter that they are cash flow positive. We are just postponing the inevitable. To blame mark-to-market accounting is like saying this is just an accounting issue when we all know that it isn't. Banks are receiving federal money that exceeds their market cap. This is ridiculous. We have to accept sunk costs and stop throwing good money at it. You wouldn't handle your personal finances in this matter. Think of it as if you were living beyond your means. Your income doesn't cover your expenses. To bridge the gap you are continually taking cash advances from your credit card and managing your debt financing by paying the minimum monthly payment to stay cash flow positive. What happens when you are no longer extended credit? How will you finance your debt?

The Case for Financial Stocks

Investing in financials is purely speculative at this point. There are so many better options out there than financials. I'd rather take my money to Vegas than to invest in C.

What Obama Needs to Know about Tim Geithner, the AIG Fiasco and Citigroup

abolish the fed. no more bailouts. let companies fail and let the chips fall where they may.

American Express Calls Investment Banks' Bluff

AXP is the cream of the crop for credit card companies. AXP cardholders charge an average of $12K a year, roughly five times that of Visa or MasterCard holders.

Right there you lost all credibility as MA and V are not banks. They do not have the exposure to debt. They are the transaction processors. I thought this was common knowledge by now.