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philipmax

philipmax
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  • Penalties come down for banks from forex probes [View news story]
    These fines are mere substitutes for income taxes that the TBTF banks don't have to pay due to numerous tax loop-holes successfully engineered thru Congress over the years.

    We'll see what criminal charges are brought, as the bank have ingeniously found ways to plead guilty without admitting to criminal charges. Just look at how many times C paid out Billions for repeat offenses ( crimes) without ever being prosecuted. Ditto for BOA and JPM.
    May 20, 2015. 10:27 AM | 14 Likes Like |Link to Comment
  • WaMu Junior Debt Recovery Becoming Unlikely [View article]
    Perhaps you are right. But the bottom line is that JPM gets 15% of Award not The Entire Sum. Sadly, we might have to sue again. JPM never "owned" the LTWs, shareholders do.
    May 19, 2015. 10:03 PM | Likes Like |Link to Comment
  • WaMu Junior Debt Recovery Becoming Unlikely [View article]
    Today, May 19 2015, Judge Block superseded Walrath's wrong-headed decree. DIMEQ LTW holders win in US Court of Claims. Minimum $419 Million, Plus $63 Million+ for tax adjustment. @ 85% of Award, less: legal fees ($30Mil+/-), it looks like $385 Million. Depending on how many shares remain after WMHI offer for trade to WHMI Shares,this could be a $10+ win per unit holder.
    May 19, 2015. 04:11 PM | Likes Like |Link to Comment
  • Privatized GSEs could cause spike in mortgage rates [View news story]
    Why stop at 97 Basis points? Who is to say that it may even rise by 300 Basis points? Or fall by 97 Basis Points? Why has it not done this in the 38 (1970-2008) years when it WAS PRIVATE? Why not acknowledge that rates could go up or down, as determined by other factors?

    In other words, where is the empirical evidence that public or private ownership is the interest rate determinate? Could it be that the Fed is he interest rate culprit?

    Rubbish like this can only come out of agenda-minded interest groups to frighten the ignorant.
    May 18, 2015. 05:01 PM | 1 Like Like |Link to Comment
  • Digesting Freddie Mac's Quarterly Results [View article]
    Thanks David. We all rely on your thorough and thoughtful research. Yet those pesky little $Billions here, and $Billions there, could add up to be real money.
    May 6, 2015. 06:12 PM | Likes Like |Link to Comment
  • Digesting Freddie Mac's Quarterly Results [View article]
    When Treasury will leave the scene - whether thru sale, expiration, or litigation - and the common could be valued at some multiple of Book Value or Earnings, should we not expect that all the Preferred shares will be restored to their pre-takeover dividend allocations? Will that not have a material impact on the Net Income of Common?
    May 6, 2015. 01:26 PM | 1 Like Like |Link to Comment
  • Freddie Mac beats on revenue [View news story]
    Looks like the Fed ain't gettin' nothing from Freddy this quarter. I hope the Freddy is cleaning out the garbage that's still on its Balance Sheet through the Income Statements. If true,this should bode well for the shareholders. Also, I just read, that Freddy is booking losses on futures derivatives that are used to hedge its portfolio. This was not done in the past as most of these transactions become net-zero long term, but, sometimes fluctuate violently in volatile markets. Nevertheless, if it prevent the siphoning of income to Fed, it's a good idea to book the losses now.
    >
    Not that it matters...Fed is doing all it can to tank this operation.
    May 5, 2015. 10:45 AM | 1 Like Like |Link to Comment
  • Banks fines: How much and where have they gone? [View news story]
    No matter how much taxes we pay, this sum is NEVER going down.

    Total Debt - Dawn of Nation to WW1- $1/2B

    Cost of WW2 - $230B

    WW2 - 2007 $6 Trillion

    Total Debt as July 2008 $ 6.5 Trillion
    July 2008 $12. Trillion

    Total $18.5 Trillion

    If we assume historical 4% Interest on National Debt =$720 Billion

    Federal Revenues $1.2Trillion

    Houston! We have a problem!!!

    Solution. Feed the banks, thru the FED, interest free money ad infinatum and "force" them to buy Treasury notes and bills yielding 1-2%, until the interest rate on the outstanding National Debt is reduced to 1 or 2%. Otherwise, interest will consume the entire Federal budget.
    May 1, 2015. 03:38 PM | 2 Likes Like |Link to Comment
  • Fannie And Freddie: A New Leaked Treasury Memo Surfaces [View article]
    Thanks, David.
    May 1, 2015. 08:56 AM | Likes Like |Link to Comment
  • Banks fines: How much and where have they gone? [View news story]
    Bank lobbyist-crybabies will point to these "fines" as undeserved punishment. Please take note: None of the banks listed has paid any federal income tax on their earnings since 2008. The "amicable settlements" with government agencies represented a micro-percent of the sums fleeced from depositors, investors, and customers. The DOJ has publicly announced that it has no intention to prosecute individuals for causing the Great Depression of the 21st Century. $18Trillion were siphoned out of the economy between 2001 and 2008- all of which ended up in our National Debt. And the criminal behavior still goes on. AMAZING!
    May 1, 2015. 08:51 AM | 2 Likes Like |Link to Comment
  • Treasury: Frannie bailout was investment, not loan [View news story]
    I'd like to see supporting documentation, properly filed with regulatory agencies (i.e. SEC,NYSE etc.) concurrent with the so called "$187B infusion" in 2008 and justification for 3rd Amendment in 2009.

    As I recall, at the time, they were bantered abut as outright loans.

    All the above posts are screaming the same. Our representatives are outright "Communists!!", "Thieves!", "Liars!", "Cheats!" "Scum of the earth!".
    Apr 23, 2015. 03:07 PM | 2 Likes Like |Link to Comment
  • Fannie And Freddie's 100% Tax Gets The Spotlight [View article]
    Thanks for shining the flood-lights on this black hole.
    This scandal is so rife with skullduggery on part of the public official in charge of
    protecting the public interest , that criminal charges should be brought and jail sentences imposed. How can we rely on the Rule of Law. in any commercial dealings, when officials can arbitrarily confiscate private property with seeming impunity?

    Our judiciary is also a co-conspirator, as judges lay off making determinations, in appeasement of government lackeys that dictate the rules of the game from their rear-end.
    Apr 15, 2015. 10:11 AM | 5 Likes Like |Link to Comment
  • JPMorgan's Buyback Has Been Harmed By Perpetual Dilution [View article]
    Share buy-back programs are a sham to steal value from the public and gift it to selected employees. Very few companies have actually produced meaningful returns to shareholders with but-back programs.
    Looking at the proxies, most executives make a pretty decent straight-out cash income for their efforts, I therefore, ALWAYS vote against Stock incentive programs.
    Apr 9, 2015. 03:35 PM | 1 Like Like |Link to Comment
  • AIG wins FAA approval for use of drones [View news story]
    Go figure?

    With all the publicity going to Amazon, Google and all the high tech millenniums grabbing the headlines for drones, it was a mundane need of AIG Insurance Company that got the jump on all of them!

    Great scoop!
    Apr 8, 2015. 11:10 AM | Likes Like |Link to Comment
  • American International Group: No Power To Move Higher? [View article]
    Good article. I would rather a higher cash dividend than increased buy-backs. Two reasons: Treasury bought stock can always find its way back into the stock pools thru incentive stock options that just transfers public ownership into select management officials and therefore, end up in no net advantage for the total outstanding shares.
    Secondly, cash dividends are an immediate pay-back to the shareholders.
    Mar 28, 2015. 08:52 PM | 1 Like Like |Link to Comment
COMMENTS STATS
314 Comments
416 Likes