anarchist

Sobering Stat: ARMS Index Indicates Market Is at Peak, Not Bottom

My knowledge of technical indicators is marginal at best so I wont speak to the TRIN index but I will say that all the comments written here have been the same since DJI 7500. No market goes up or down in a straight line so of course there will be a pullback somewhere in the future but IMHO this market is not being driven on fundamentals including the TRIN Index, it's all about perception and the perception is that the worst of the recession is over. Even if the recovery is in the distant future people don't want to get left behind and hope to recover their losses eventually. The question is "will those who have been buying panic on a correction and sell, it has very little to do with fundamentals

Schadenfreude: Finally, Countrywide's CEO Getting What He Deserves

Yep user 283977, I have been saying the same thing before the days of BAC stocks being about $3/share and everyone was screaming "BAC is a zombie bank and it's going down" or some such mantra. No, BAC is NOT going down, like GS it's the Government's darling and the deal was cut when Paulson needed CW saved and the deal was sealed, signed and delivered the day BAC started to back out of the Merrill deal.


On Jun 05 03:44 PM User 283977 wrote:

> 3) BAC was told if they bought it the government would bail them
> out.

Is There Any Limit to Bank Arrogance?

I hear Gitmo might be available in the near future.


On May 28 04:04 PM James Quinn wrote:

> NO. THERE AREN"T ENOUGH PRISONS FOR THESE CRIMINALS.
>
> theburningplatform.com...

Is There Any Limit to Bank Arrogance?

How do they do it? Just when one thinks there is an end of what banks can think up to rape, loot and pillage (to quote Market Sniper) they come up with another outrageous idea. Congress the thinks about it and either makes the outrageous idea part of TARP or some other program that gives the banks access to the public trough.
I know, academically, that massive bank failures probably would have been the catalyst for Depression II, however one wonders if it might have not been better. In hindsight I think there were plenty of solvent banks in the U.S. to carry on with business as usual so goodbye investment banks and AIG (I can dream can't I?).

BAC: Where Are the Damn Cops?

AND,
did you notice that BACs volume was 1,199,094,332 , more than twice the normal volume. Stock price up to 11.49 and then to 11.60 in after hours. I was watching the volume today, it was like watching a slot machine as the wheels turn.

Credit Cards: Do the Banks Own the Senate?

guess you have never been broke


On May 15 08:31 AM captainccs wrote:

> Just pay your credit card in full every month and you won't be a
> "beleaguered consumer." You get a free loan, product protection,
> advantage miles or whatever it is your card gives you to encourage
> you to use it.
>
> There is no law that says you can't pay the credit card in full each
> month. I have been doing it for years.
>
> Oh, do Wall Street banks own the Senate? Not just the Senate, the
> full Congress, the Fed, the Treasury, the administration and everything
> else money can buy.

Credit Cards: Do the Banks Own the Senate?

"Amen" to that!

On May 15 07:57 AM doubleguns wrote:

> Actually they own both the house and the senate as well as every
> administration present and past, in joint ownership with all of
> the big banks, lobbyists, filthy rich, well connected, foreign banks
> and the list goes on..........
>
> The tax payers however are not on the list.

Credit Cards: Do the Banks Own the Senate?

Well aren't you just so smart. I pay mine off every month also but I am not so naive to think everyone that needs to use them can. There are a hell of a lot of people out there hanging on by their teeth and have no choice but to pay those scandalous usury fees.


On May 15 03:11 AM PastTense wrote:

> The "beleaguered consumer" would be much better off closing his credit
> card accounts rather than pay heavy interest each month (while I
> charge as high a percentage of purchases as possible, I do it to
> get a 1% cash rebate and consumer protection features against unscrupulous
> merchants--and pay the bill off in full every month).

8 Charts for Trading Financials

OK, I bought BAC with my "play doe" and I wish every stock I own had done as well. I knew that $3 a share was ridiculous so I got in. The author of this article suggest using covered calls and while that is probably a good idea the last time I looked the premiums were zip. I sold a third of my BAC at $15 and change for a nice profit but if the premiums on options look any better in the next options cycle I probably will sell some calls. These stock are going to be the financial leaders of the future, just depends on your investment time frame. I am retired so I an not going to wait for BAC to become the financial powerhouse I think is in it's future.

Stress Test Leaks: Endgame Emerging

So lets say that the banks all pass the stress test or do so with the understanding that they need to raise some capital-then what? Banks other than investment banks make money lending. Who are they going to lend to unless they go back to the reckless financing schemes that got them (and the taxpayers) in this trouble. Speaking of reckless financing I haven't heard about any legislation to prevent the creation of some more screwball derivatives like the last slide, dice and repackage mortgages schemes of the past so maybe thats where the growth will come from-seems as there is always some loophole to avoid regulatory agencies, hey they own Treasury and all those poor Senators and Representatives need campaign money. Just supply and demand, I demand laws that allow me to do any damn thing I like and for X amount of dollars you the Congressman supply said law. In the case of Glass-steagall it was the demand to cancel a law that was bothersome.

Paulson Throws Bernanke Under the Bus, Backs Ken Lewis

Ya think so? How about the lowly BAC share holder, did they have any idea that their company was being forced at "gun point" to absorb a huge chuck of toxic waste?


On Apr 24 04:16 PM MarvinMBA wrote:

> It is obvious in the public interest to keep ML alive...many would
> suffer if ML declared Bankruptcy. In this case the right thing
> was done and nobody should lose their job over this deal...MarvinMBA

Paulson Throws Bernanke Under the Bus, Backs Ken Lewis

Correct, I am just surprised that anyone is surprised. The whole "we will make sure you don't fail if you finish the Merrill deal and if you don't look for another job" was obvious.


On Apr 23 03:22 PM notblind wrote:

> It seems that a couple of people here are not aware that this took
> place in the Bush administration.

Is Bank of America Poised for a Major Move Up?

Customers have ALWAYS been fed up with Bank of America and it's lack of regard to their banking needs and being stuck with ridiculous charges-but ya know what? B of A is still out there and it appears that, thanks to their customer's (and a "few" non-customers) tax dollars, they will be around for a long time. Take a look at this, it will make you sick-but where is the outrage?
www.pbs.org/moyers/jou...


On Apr 13 09:17 AM buoy wrote:

> Customers are fed up with BAC.

Accounting Rule Changes Creating False Rally in Financials

He does! He said the the banks were happy as hell to have Mark to market during the boom years, so I would think that, inversely they are not happy with the "downward pressure" during a declining market.


On Mar 15 03:01 AM ccerenz2 wrote:

> This author clearly doesn't understand the negative downward pressure
> that Mark to market has on assets in a declining market.

The Financial Supermarket Is Dead

I expect the midterm elections to be a non-event. There is enough pork in all these bailouts for most Representatives to survive, it's always the other guys Representative that "should be sent walking", not mine.
I wouldn't venture a guess as to what will become of the banking industry as we see it now but I will predict that BofA will survive. When CEO Kenny Lewis got cold feet in the purchase of Merrill I am sure the Government, maybe Paulson, promised BofA would survive no matter what if they went ahead with the deal. The promise may not have been worded quite that way but BofA will go down even after JPM if at all.


On Mar 09 11:43 AM Jason C. Rines wrote:

> Won't take seven years before U.S. government decides to stop it
> with the trick-down strategy of bailouts. 2010 elections have a lot
> of House of Reps up for reelection. The American public have begun
> there research into the corrupt and inept. I expect the banks to
> be nationalized by fall latest.