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  • Wall Street Breakfast: Must-Know News [View article]
    I saw a "talking head" on CNBC offer a rosy prediction for banks' earnings based on the fact that banks are now making large numbers of refinanced mortgages. Can anyone explain to me how I and a few hundred thousand responsible Americans refinancing from 7+% mortgages to 4 1/2% mortgages is a good hing for bank earnings ?

    OK, they get a one time origination fee. But the interest - long term earnings - is halved. Let's eliminte the hype - ZIRP policy reduces the earnings of financial institutions.
    Apr 21 11:05 am |Rating: +4 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    >> "Morgan Stanley (MS) may buy U.S. regional banks" >>

    Have we learned NOTHING ??? "Too big to fail" is only a problem because we let firms get TOO BIG !!! We need more and bigger megabanks like a fish needs a bicycle.

    And they're going to use TAXPAYERS funds to buy more banks ?? The government oversight is broke. How can regulators allow these welfare recipients to use the federal funds to buy up SOLVENT banks ??? The system is BROKE !!!
    Apr 21 10:55 am |Rating: +3 -2 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Good "breakfast buffet" of news. Thanks, Rachael.

    What is and is not true or factual would be a whole lot easier to determine if the spin we get from DC were believable. The data they dish out, the policies based on that data, and the individuals making those policies are all VERY suspect. Personally I don't believe a word they say or any data they give out.

    As for the banks, Far more knowledgable folks than me have reported that most of the major banks are "probably" insolvent if one could actually get in and determine what is being held in their level 2 and 3 "assets". Nobody on the outside can, so it remains a mystery. My investing assumption for most of the last year has been that no bank is solvent. Haven't lost a dime (on financials)since making that assumption.. Whatever works....

    When Geithner or whoever gives the "report" on the stress tests, we will not be given any data of any individual bank to back up the analysis. They expect us to take their word, to trust their analysis and conclusions. You trust them if you want, I don't believe a word they say.
    Apr 21 10:16 am |Rating: +5 0 |Link to Comment
  • Detroit Auto Show Will Be Muted as Global Production Slows [View article]
    Look for yet another round of hybridized gas guzzlers to debut. Charging $15,000 more for a hybrid SUV that gets 18 mpg than the regular one that got 14 mpg is the kind of "Detroit-think" that's brought them to where they are today. Yes, the mileage is 30% better. And yes, it's still a gas guzzler. Calling these motorized family rooms "light duty vehicles" is so wrong, so out of date.

    New muscle cars - Camaro and Mustang - bigger, more pwerful trucks, Oh, and a Chevy Volt with no running gear. Revolutionary ? NO. Evolutionary at a pace resembling the origin of species.

    Sure would be nice to have a national commitment to stop sending 3/4 of a Trillion dollars to OPEC countries every year. People complain that we don't make any exports anymore. Hey, we're still exporting a lot of dollars every year and they're made right here in the USA. For now.
    Jan 11 08:41 am |Rating: 0 -2 |Link to Comment
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