Seeking Alpha

JCCIII » Comments » BAC

  • Wall Street Breakfast: Must-Know News [View article]
    Good point, Old Trader. The US saves Iraq and they send their business to another country. Real gratitude! I agree with fed_alchemy; time to get out. And that goes for Afghanistan, also.
    Dec 11 09:31 am |Rating: +3 -7 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Excellent Wall Street Breakfast this morning, Suzanne. A couple of comments:

    "House Speaker Nancy Pelosi suggested recycling leftover funds from the $700B TARP fund to create jobs and boost some salaries." Why boost salaries, as we now live in a world of no inflation and 0% increases for Social Security?

    "Interim GM Chairman Ed Whitacre will announce new responsibilities for Vice Chairman Bob Lutz as part of an overhaul of the management team this morning, sources say. Whitacre is building a team to run the company until a replacement is hired, in a push to make GM more nimble and to hold employees accountable." Wonder if any of the employees who will be held accountable are UAW members. And, aren't employees already accountable for what they do?
    Dec 04 09:55 am |Rating: +4 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    UAW reveals itself as the self-interested entity everyone already knows they are. They couldn't care less about the harm they are doing to America's competitiveness.
    Nov 02 09:17 am |Rating: +5 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    From above: "Barron's magazine's Andrew Bary urged Ben Bernanke to hike interest rates to a "more normal" 2%, or risk fostering another financial bubble. Barron's says with the economy recovering, the dollar falling, and commodities on the rise, keeping rates near zero will only fuel speculation and anger America's economic partners and foreign creditors - and potentially stoke inflation. Bary worries the Fed is failing to distinguish between normal accommodative monetary policy and crisis accommodative policy."

    Couldn't agree more with the Barron's comments. However, Bernanke is an expert on the Great Depression and one of the lessons learned from the GD (rightly or wrongly) is that money was tightened too soon (i.e., interest rates were raised to soon); I think, based on the GD lesson learned and Fed comments, that the Fed will err on the side of easy money for too long. Also, raising interest rates will be detrimental to the gov't's borrowing; a serious conflict of interest. Also, if easy money produces inflation (an almost certainty), so much the better for the gov't; a huge tax increase without having to vote on it and repayment of debt with cheaper and more readily available (if/when jobs increase) money.
    Oct 19 10:08 am |Rating: +4 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    "Embattled Bank of America (BAC) CEO Ken Lewis, already facing a slew of woes, now must forfeit his entire bonus and salary for 2009." Neither the Breakfast summary nor the linked to article justifies this; however, I will assume that it is based on performance. If a nefarious czar can force a man as powerful and influential as Ken Lewis to agree to no pay for a year of work due to poor performance, Congress people better watch out.
    Oct 16 10:15 am |Rating: +2 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Good that the ratings agencies are finally being investigated; they are the, as yet, unpunished villains in the Crash of 2008. Very hefty judgments against and maybe some serious prison time for a few executives are in order. Don't know exactly what to make of the comment, "Brown didn't specify which companies will be investigated." If Brown does not investigate them all, what does that say?
    Sep 17 09:38 am |Rating: +4 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Bbowen7. Boy, did you hit the nail on the head! Nov 2010 and Nov 2012 cannot come soon enough.
    Sep 15 15:16 pm |Rating: +2 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    It took Detroit and the UAW 40 years to do it, but they have finally convinced me that they cannot build a competitive world-class car. Congratulations.
    Sep 09 10:29 am |Rating: +5 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Interesting that democrat presidents frequently acknowledge their party's lack of expertise/credibility in the critical areas of finance and defense by nominating republicans to Fed chair and Sec of Defense (Will NBC or MSNBC acknowledge, or even mention, these points?). Wonder how quickly Harry Reid will push the Bernanke re-nomination through the senate. He couldn't get the AA queen (Satamayor) nomination through quickly enough or with little enough discussion; likewise with the "stimulus" package and health care reform. In Bernanke's case, I suspect Harry will likely think the entire Bush-era crisis will require a thorough re-look, with the real purpose being to highlight perceived Bush-era failures while turning a blind eye to any democrat complicity (bet Harry does not highlight the point that the democrats controlled congress from 2006-08) . Politics and hypocrisy are equivalent terms. Nov 2010 (and Nov 2012) cannot come quickly enough.
    Aug 25 10:44 am |Rating: +3 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Robert B Ferguson, you covered a lot very well. Now that the Obama administration has trampled on contract and bankruptcy laws (and introduced a new risk that must now be quantified), I would add, it will be interesting to see what interest rate potential new "secured" bond investors will demand of the new government and UAW owned GM/Chrysler/Ford.
    May 28 09:38 am |Rating: +9 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Stimulus bill: "Around 35% of the package is earmarked for tax cuts." When you back out the welfare portion of the tax cuts - that would be refunds of income tax to people who do not pay income tax - the percentage of tax cuts becomes around 20%-22%.
    Feb 12 10:24 am |Rating: +2 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I totally agree with bobbobwhite on Geithner. Paraphrasing Jay Leno, Geithner is either a tax cheater or he is incompetent in handling his own taxes. There has to be a better person for the job.
    Jan 23 10:34 am |Rating: +6 0 |Link to Comment
  • Last Thursday Was the Bottom - It's Time to Get Back in [View article]
    Tacitus (pseudonym) is an attorney and investor in California.

    Tacitus, I applaud your willingness to make a prediction and accept the criticism that is sure to follow. An author with a real name, however, is more credible. By the way, I think you just may be right - that is, that the market going up on bad news is a signal of a bottom.
    Nov 30 13:49 pm |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I am also a small investor, like eddie64. While not as negative as eddie, I also do not understand how a naked short seller is allowed to sell that which he/she does not own; it just does not make sense to my logical mind.
    Sep 16 10:29 am |Rating: 0 0 |Link to Comment
More on BAC by JCCIII
Comments by Ticker
AAPL, ABK, ABT, ABX, ACE, ACH, ACL, ACN, ADBE, ADS, ADX, AES, AET, AETUF.PK, AFL, AGO, AIG, ALL, ALTR, ALU, ALV, ALXN, AMCRY.PK, AMD, AMGN, AMKR, AMP, AMTD, AMZN, ANR, AOL, APD, APF, APOL, APP, ARLP, ARRS, ARVCF.PK, ASH, ASML, ASO, ATPWF.PK, ATVI, AXA, AXP, AZ, AZO, B, BA, BAC,
JCCIII's
Comments Stats
80 comments
Rating: 124 (158 - 34 )