herbert hoover's Comments herbert hoover's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/262977/comments This might be bearish even for Elliott Wave's Robert Prechter: a recommendation to go 200% short on stocks. http://seekingalpha.com/news/market_currents/post/37223?source=feed#comment-777800 777800 Wed, 25 Nov 2009 17:45:19 -0500 Die Robin Hood Bankerin: A German bank manager fesses up to transfering €7.6M out of rich customers' accounts to help poor clients. http://seekingalpha.com/news/market_currents/post/37146?source=feed#comment-776759 776759

On Nov 25 06:31 AM Steve in Greensboro wrote:

> Somehow this doesn't seem fair. When the German bank manager does
> this sort of thing, we call her a felon. When Barney Frank does it,
> we call him a U.S. Congressman]]> Wed, 25 Nov 2009 08:42:28 -0500

On Nov 25 06:31 AM Steve in Greensboro wrote:

> Somehow this doesn't seem fair. When the German bank manager does
> this sort of thing, we call her a felon. When Barney Frank does it,
> we call him a U.S. Congressman]]> Arianna Huffington wonders if unemployment will be President Obama's Katrina: "His economic team's resistance to a second round of stimulus, lukewarm reaction to congressional jobs legislation, and prioritization of deficit reduction over job creation certainly has the feel of a 'taking in the damage from 2,500 feet' flyover moment." http://seekingalpha.com/news/market_currents/post/37127?source=feed#comment-775863 775863 Tue, 24 Nov 2009 17:51:16 -0500 Brazil blew it by rejecting an offer to buy 30% of Citigroup (C) as the bank tried to raise capital in the crisis, the country's energy and mines minister says. “We made a mistake,” says Edison Lobao. “We could have bought it and made a big profit. It was a lost opportunity, but I think any prudent government would have been cautious." http://seekingalpha.com/news/market_currents/post/37106?source=feed#comment-775533 775533

On Nov 24 12:30 PM a fat panda wrote:

> It is depressing to see that people think like this. Absent the federal
> government providing enormous welfare to the system, Citi would be
> out of business. The quote above isn't terribly far from saying :
> Damn, I missed the last bus to the welfare office when in fact any
> prudent government would have laughed at them.]]> Tue, 24 Nov 2009 13:58:31 -0500

On Nov 24 12:30 PM a fat panda wrote:

> It is depressing to see that people think like this. Absent the federal
> government providing enormous welfare to the system, Citi would be
> out of business. The quote above isn't terribly far from saying :
> Damn, I missed the last bus to the welfare office when in fact any
> prudent government would have laughed at them.]]> With lawmakers breathing down banks' necks, don't be surprised if your bank doesn't want your business anymore, Dick Bove says, citing as evidence HSBC's (HBC) move to evict retail investors' gold from its vaults. Bove thinks as many as 30% of U.S. households could be forced out of their banks because they're not profitable enough. http://seekingalpha.com/news/market_currents/post/37100?source=feed#comment-775324 775324 Tue, 24 Nov 2009 11:47:28 -0500 With support for Treasury Secretary Tim Geithner waning, JPMorgan (JPM) CEO Jamie Dimon is emerging as a potential successor, sources say. Dimon has recently been making frequent visits to Capitol Hill, and earlier this month published an op-ed that urged the government to allow large institutions that take big risks to collapse. Dimon appears to have an advocate in bank analyst Dick Bove. http://seekingalpha.com/news/market_currents/post/36974?source=feed#comment-773158 773158 Mon, 23 Nov 2009 09:13:35 -0500 The Fed didn't exactly cover itself in glory in its oversight roles, but neither did any other agency, writes John Berry: Let it regulate. http://seekingalpha.com/news/market_currents/post/36946?source=feed#comment-770399 770399 Sat, 21 Nov 2009 09:31:40 -0500 Fed's balance sheet swells to its largest point since December 2008. Balance sheet liabilities expanded to $2.19T as of Nov. 19, the highest point recorded since liabilities hit $2.25T on Dec. 31, 2008. The Fed's holdings of mortgage-backed securities increased to $847B, from $776B a week earlier, while its agency debt ownership rose to $153B from $150B. http://seekingalpha.com/news/market_currents/post/36888?source=feed#comment-768674 768674 Fri, 20 Nov 2009 08:46:03 -0500 Some of Goldman Sachs' (GS) largest shareholders are peeved about the $717K-average bonuses the bank's staff are to get this year, and want the bank to disperse more earnings to investors, sources say. Despite record net income, analysts expect Goldman's 2009 earnings per share to be 22% lower than in 2007. A spokesman for the bank pointed out that, since going public in 1999, the company has generated a total return of 159%, while shares have more than doubled YTD. http://seekingalpha.com/news/market_currents/post/36887?source=feed#comment-768592 768592 Fri, 20 Nov 2009 07:58:40 -0500 J.M. Smucker Company (SJM): FQ2 EPS of $1.22 beats by $0.18. Revenue of $1.28B in-line. Sees full-year EPS of $3.95-4.05 vs. $3.83 consensus. (PR) http://seekingalpha.com/news/market_currents/post/36884?source=feed#comment-768590 768590 Fri, 20 Nov 2009 07:57:45 -0500 Former Fed Chairman Alan Greenspan and Paul Volcker say they're opposed to auditing the Fed, noting the measure would destroy the central bank's independence (.pdf). Fed chief Ben Bernanke told Congress in June that Sen. Ron Paul's provision "would effectively be a takeover of policy by the Congress and would be highly destructive to the stability of the financial system, the dollar and our national economic situation." http://seekingalpha.com/news/market_currents/post/36885?source=feed#comment-768588 768588
Why are these guys so afraid of a little transparancy? ]]> Fri, 20 Nov 2009 07:56:12 -0500
Why are these guys so afraid of a little transparancy? ]]> A Rough Day at the Office for Tim Geithner http://seekingalpha.com/article/174478-a-rough-day-at-the-office-for-tim-geithner?source=feed#comment-768556 768556 Fri, 20 Nov 2009 07:21:41 -0500 Initial Jobless Claims: 505K vs. 506K expected, 505K prior (revised from 502K). Continuing claims -39K to 5,611,000 http://seekingalpha.com/news/market_currents/post/36801?source=feed#comment-767008 767008 Thu, 19 Nov 2009 08:43:52 -0500 Lumber Futures Spike as Demand for Commodities Increases http://seekingalpha.com/article/174141-lumber-futures-spike-as-demand-for-commodities-increases?source=feed#comment-766060 766060 Wed, 18 Nov 2009 16:32:05 -0500 John Paulson says Bank of America (BAC +3.1%) shares will almost double over the next two years as writedowns ease. "Banks will have passed the current writedown cycle and have visibility for growth in 2012," the hedge-fund giant told investors in his Q3 letter. Paulson's holdings likely rank him among the 10 biggest stakeholders in BofA. http://seekingalpha.com/news/market_currents/post/36739?source=feed#comment-765388 765388 Wed, 18 Nov 2009 10:46:55 -0500 GMAC has taken $12.5B in TARP money and has gone back to the well a third time to ask for $5.6B more. Meanwhile, its Ally Bank offers depositors best-in-the-nation rates, hurting other banks, despite terrible financial condition. Maybe it shouldn't have an ally in government, says Rolfe Winkler - and should be put out of its misery. http://seekingalpha.com/news/market_currents/post/36676?source=feed#comment-764051 764051 Tue, 17 Nov 2009 13:50:18 -0500 Dow leaders: MSFT +1.5%. WMT +1%. MRK +0.8%. CSCO +0.8%. XOM +0.7%. Dow laggards: HD -3.4%. CAT -1.5%. MCD -1%. BAC -1%. AXP -0.9%. http://seekingalpha.com/news/market_currents/post/36677?source=feed#comment-764037 764037 Tue, 17 Nov 2009 13:45:48 -0500 Eight months after President Obama began prodding banks to increase small business lending, numbers continue to move in the opposite direction. The 22 banks that got the most help from the Treasury's bailout programs cut their small business loan balances by a collective $10.5B, according to a report Monday. http://seekingalpha.com/news/market_currents/post/36650?source=feed#comment-763685 763685 Tue, 17 Nov 2009 10:14:19 -0500 Italian confectionary giant Ferrero is considering a partnership with Cadbury (CBY), which could help it fend off a hostile takeover bid by Kraft (KFT). According to media reports the head of the Ferrero family, Michele, is against the idea, while brothers Pietro and Giovanni are in favor of considering it. (source) http://seekingalpha.com/news/market_currents/post/36646?source=feed#comment-763680 763680
Vito Corleone]]> Tue, 17 Nov 2009 10:13:10 -0500
Vito Corleone]]> Another indicator that after last year's overstock, retailers will have much smaller inventories for the holidays this year: Inbound cargo container volume at Los Angeles and Long Beach is 14.7% below October 2008, while outbound traffic was 1% higher. (see chart) http://seekingalpha.com/news/market_currents/post/36606?source=feed#comment-762765 762765 Mon, 16 Nov 2009 17:55:29 -0500 The Dollar Approaches Critical Levels http://seekingalpha.com/article/173672-the-dollar-approaches-critical-levels?source=feed#comment-762763 762763 Mon, 16 Nov 2009 17:54:00 -0500 Fitch warns of downgrades to come for regional and smaller banks, who aren't able to manage the risk from commercial real estate losses as well as big banks. The firm estimates a potential CRE loan loss rate of 11-24% at its rated companies. http://seekingalpha.com/news/market_currents/post/36586?source=feed#comment-762377 762377 Mon, 16 Nov 2009 14:00:29 -0500 Why the Stock Market Should Crash http://seekingalpha.com/article/173607-why-the-stock-market-should-crash?source=feed#comment-762373 762373

On Nov 16 01:46 PM CoverIsBetter wrote:

> "bricki" is right.. These death forecasts are useless if you cannot
> say when.
>
> When has the housing market ever not been skewed by government involvement?
> Ever hear of the Community Reinvestment Act? People need to grow
> up and realize we have never had a perfectly competitive, government
> free economy.
>
> "Patterns repeat themselves, until they don't". - somebody]]> Mon, 16 Nov 2009 13:57:57 -0500

On Nov 16 01:46 PM CoverIsBetter wrote:

> "bricki" is right.. These death forecasts are useless if you cannot
> say when.
>
> When has the housing market ever not been skewed by government involvement?
> Ever hear of the Community Reinvestment Act? People need to grow
> up and realize we have never had a perfectly competitive, government
> free economy.
>
> "Patterns repeat themselves, until they don't". - somebody]]> Why the Stock Market Should Crash http://seekingalpha.com/article/173607-why-the-stock-market-should-crash?source=feed#comment-762328 762328 Mon, 16 Nov 2009 13:35:39 -0500 China says the Fed is endangering global recovery with its insistence on keeping domestic interest rates near zero for the next 12-18 months. China's chief bank regulator rebuked the U.S. for fueling speculative capital flows that may spur asset-price inflation, which he said has already led to massive dollar arbitrage speculation. http://seekingalpha.com/news/market_currents/post/36572?source=feed#comment-762074 762074 Mon, 16 Nov 2009 11:10:43 -0500 AIG (AIG) may borrow additional money from its five-year Fed credit line in order to make $5.8B in payments on a commercial paper program expiring in January. The insurer owes more than half of the $10B still outstanding in the Fed facility, while other companies that took part have found private-sector alternatives or scaled back short-term borrowing. http://seekingalpha.com/news/market_currents/post/36390?source=feed#comment-757226 757226 Thu, 12 Nov 2009 11:54:26 -0500 Bank of America (BAC) may miss its internal deadline of naming a new CEO by Thanksgiving, due in part to its inability to zero in on a clear frontrunner, and amid worries that the process must be approved by the Fed. http://seekingalpha.com/news/market_currents/post/36374?source=feed#comment-756972 756972 Thu, 12 Nov 2009 09:45:17 -0500 AIG (AIG) CEO Robert Benmosche tells employees in an internal memo he remains "totally committed to leading AIG through its challenges" despite his frustrations with government curbs on compensation. Benmosche also called the government's limits a "barrier" that "stand in the way of restoring AIG's value" and repaying its debt. http://seekingalpha.com/news/market_currents/post/36361?source=feed#comment-756866 756866 Thu, 12 Nov 2009 09:04:50 -0500 Wal-Mart Executives: There Are Families Not Eating at the End of the Month http://seekingalpha.com/article/172833-wal-mart-executives-there-are-families-not-eating-at-the-end-of-the-month?source=feed#comment-756208 756208 Wed, 11 Nov 2009 19:00:33 -0500 Wall Street notices today's unusual rush in volume on 3Com (COMS) call options (highest since September 2007) before the after-hours announcement of the company's acquisition by Hewlett-Packard (HPQ). OptionMonster has a picture of November calls going for $0.65 at 11 a.m. today that should go to $2.90 tomorrow - 350%, nice work for a day. http://seekingalpha.com/news/market_currents/post/36346?source=feed#comment-756135 756135 Wed, 11 Nov 2009 18:17:03 -0500