j-dub

Why I'm Buying Citigroup

However, unlike let's say Coca Cola, it is uncertain if Citi will even have a future to develop. No one knows what they really have on their books. There is probably a good reason for that, don't you think?


On Dec 18 12:18 PM Alex Filonov wrote:

> Stock market is the second biggest roulette in the world (bond market
> being the first). And if you don't think about it as a gambling,
> you are up to big disappointments.
> Yes, I read balance sheets, follow news etc. But in the end, it's
> gambling on the future developments.
>
> On Dec 18 07:39 AM j-dub wrote:

Why I'm Buying Citigroup

because your a gambler.
Nothing more, since no one can read the balance sheet.

TARP: Not Perfect, But a Major Success

Wasn't the major purpose of TARP to remove the toxic assets on the banks balance sheets in order to free up capital so more normalized lending could continue?

A huge success based on those goals?
Hmmmmmmm

At least the Goldman Sachs of the world have had record years in certain areas like bonuses and hubris. So at least we've got that going for us.......................

You are young like me Jacob, however I am certain (in my opinion :) ) we've done nothing but rearrange the deck chairs on the titanic. Things seem dramatically different because of accounting fraud and MSM deception.

U.S. Forfeiting Billions in Future Taxes So Citi Can Exit TARP

I encourage all those like bbro to get off their knees, open their eyes and close all your accounts from vampire/zombie banks like Citi. I did earlier this year.
I can't imagine how anyone living and paying taxes in America would do business with any of the multi bailed out banks like BAC, C or WFC. They are failures and by doing business with them, in my opinion, you are encouraging, even are a bit complicit concerning the socialistic policies that goes against everything which makes America great.

While our government is in the dark, only the taxpayer can show them the light. And we do that with our wallets.

GET YOUR MONEY OUT OF CITI


On Dec 16 06:15 AM bbro wrote:

> remember You own part of Citibank as a taxpayer....so aren't kind
> of
> cutting your nose off to spite your face.....

Ben Bernanke Pleads for His Job; My Response to Bernanke

Ode to Ben

There once was a man named Bernanke.
A Wall Street whore and government lackey.
To the Federal Reserve chair he rose.
The events surrounding the Great Depression, he knows.
Still, wrong time after time.
Someone throw him a line.
A complete failure, back to Princeton, he goes.

Banks Are Not Lending? So What

"Banks Are Not Lending?
So what?"
Brilliant

"This too shall pass, and banks will lend again when they see good opportunities in the market and are adequately capitalized to handle any economic environment."
Every problem will simply solve itself, thank goodness!!!

Who cares that we're supporting institutions which refuse to support the people who's grandkids taxpayer money keeps them alive in zombie land?
Not me nor any other hard working American, that's for sure.
It's our own fault that deserving citizens and businesses can't get credit expanded or money for construction projects!!!

Oh, one last thing.
If this keeps up and by some miracle doesn't solve itself, I have a great title for a future article of yours. You'll love it:

"We're in a depression? So what."

Is Dubai's Default a Black Swan Event?

Like it or not, I am going to answer this question in a over simplified manner. I do not believe this is a black swan event. Oh no. Lehman and Bear was, this isn't.
What you had was a world wide gorge on easy money and government guarentees. The problem is that all governments, no matter how powerful, can not stand up to free markets. They can only cover up so many cracks with glue until the entire dam comes apart. That is the economy.

Picture our markets now.
Picture a pyrex glass sphere balanced on the pointed edge of a 6 foot samarai sword. Even though the men standing around the sword are telling you how stable this all appears, you have your own eyes and your own wits and can judge for yourself. Pretty easy to see it'll only take a light breeze to bring the whole thing crashing down.

Dubai a Black swan?
Oh no-just a light breeze. But that's really all that's needed.
One more thing - it doesn't matter how many more glass spheres are put atop 6 foot samarai swords. I don't see the wind letting up any time soon................

Should Government Get Involved in Protecting Businesses?

"Should Government Get Involved in Protecting Businesses?"

Absolutely!! Here are the dangers government needs to protect businesses from in today's world:
1) over taxation
2) over regulation
3) government largess
4) government interference
5) cap and trade tax
6) the breaking of anti-trust laws

Otherwise be true to American business and stay the hell away from it. Let those who actually know how to run businesses do so, and let those who don't fail.

10 Reasons to Believe That We're in a Depression

COUNTERPOINT:

Since I lost my job earlier this year, I am able to stay home and watch CNBC all day, everyday. And I've learned three very valuable pieces of information from watching day in and day out that I am happy to pass on:

1) Everything is fine.

2) Our government is making ALL the right moves because Ben Bernake is a genius.

3) The economy is just a bit behind schedule concerning employment. That'll solve itself. (refer to #1)

Watch a lot more CNBC Mr. Clark, and you'll come to the same conclusions. They don't get involved with all those fancy numbers and such and it's fun to watch Cramer jump around.

Whitney Gets Bearish: Will She Be Right Again?

You are in the Whitney camp yet you own C? It could be Whitney's poster boy for insolvent, undercapitalized banks.

That's kind of like being a conservative republican yet voting for Obama, no?

The Financial Crisis: Nowhere Near Over

So the bank rally built on 3 parts fantasy, 4 parts accounting fraud, 2 parts hope and 1 part greater fool theory operating like I have never seen has been a hoax?
NO WAY

Well, on the small chance it has been, I'm sure our fed, treasury and executive branch has a plan B.

On the plus side, at least GM only lost 1.2 billion dollars during the cash for clunkers quarter and "that's a good thing."

THIS IS ONE HELL OF A BEAR MARKET RALLY

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

Three BIG changes

1) Wall Street is not only pretending the crisis is mostly over, but some are acting like it never even happened.

2) The PPT is organized and functioning in full effect

3) The MSM is now on board and ever so loyal to the extend and pretend processes that seem to be permanently in place.
``Cash for clunkers is a huge success``

Ray,
These 3 processes were not occurring last year.

Thank goodness, we as a nation, had the courage and tenacity to institute these much needed changes.

If Asset Prices Are Dropping, Why Are Bank Stocks Rising?

Tack-
What bank do you/your spouse work for?

Wany to brink a smile to everyone's face?
Trying claiming you don't work for one


"upset the apple cart"
Give me my 700 billion apples back!!!!








On Aug 22 06:39 PM Tack wrote:

> In response to your post:
>
> 1) Paper solvency is only an issue if you're a third-party lender
> that has short-term maturing debt that needs to be rolled over and
> your creditors are either a) scared to death and want to take their
> money and run, or b) opportunistic predators, who wish to drive you
> into bankruptcy and/or deeding vastly-undervalued assets to them
> to satisfy your debt, so they can make the big money in the recovery
> phase. That's precisely what happened to leveraged outfits, like
> Thornburg Mortgage, etc., in the early going of this panic.
>
> That phase of the panic is over, now, and the commercial banks are
> not going to face a "covenant call" on their debt unless one is contrived
> for them by the predatory forces. (That's precisly why we still see
> opining and lobbying to have Washington force the banks, by law,
> to sell all their distorted-market-value debt assets at what would
> be insane prices. The same entities that shorted all this stuff to
> death, now want Congress to giftwrap it for them so they can make
> the huge money on the upswing, too.)
>
> 2) Sure, there are tighter lending standards in play. For heaven's
> sake, let's hope so. The 125%, no-docs loans to people who couldn't
> have paid back 50% loans are how we got here. I do not in any way
> think the economy is being constrained at this point by inadequate
> loan supply; it's being limited by caution on borrowers' parts and
> by inadequate confidence being restored, as a whole, to the public.
> We're in the "early-adopters" phase of the recovery (where the big
> money is always made), and the general public will follow, gradually,
> as a lagging indicator, just like employment. It may be gradual,
> rather than sharp, but it's the direction that matters.
>
> Regarding banks "getting through this," they are now at record levels
> of liquidity and deposits --absolutely huge amounts never before
> seen, en toto. The banks, also, despite all the fear whipped up about
> commercial realty, have already built up very large reserves, and
> continue to add, to deal with continued weakness in the commercial
> sector. They will not be caught off guard, as they were with the
> residential-writedown panic.
>
> I continue to believe the banks are well positioned, presently, for
> returning profits and, especially, for growing cashflows.
>
> In my own view, the only things that could upset the apple cart would
> be if:
>
> 1) Washington changed the rules and forced banks, against all logic,
> to sell their assets at firesale prices. For the moment, I'm betting
> that enough saner minds remain that this will not happen. However,
> if it did, it would have catastrophic consequences to our economy,
> the financial system, stock markets and any hope for world recovery.
>
>
> 2) Some new scare develops or is conjured up, which sends business
> and the public into a deeper retreat that reverses the initial positive
> news and emerging fledgling confidence we're beginning to see, now.
>

If Asset Prices Are Dropping, Why Are Bank Stocks Rising?

Three reasons

1) PPT

2) greater fool theory operating LIKE I HAVE NEVER SEEN BEFORE, stemming from the perpetration of accounting fraud.

3) governement intervention (stealing taxpayers money on a LEVEL NO ONE HAS EVER SEEN BEFORE)

Has President Obama's Mortgage Modification Plan Failed?

INCORRECT, TOMOS

His initial attempt to trick the American people into believeing that he would not be a total failure had succeeded.
HE WON THE ELECTION!!!!!


On Aug 20 09:35 PM Tomos wrote:

> Everything Obama has put his hands on has failed.