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Wall Street Breakfast: Must-Know News

Sorry, Seeking Alpha moderators, I hit the wrong button and reported yolosetodo for abuse instead of responding to his extremely logical and valuable recommendations.

Yolosetodo, the fundamental problem since time immemorial (or at least for the past century) has been the arrogance of the American capitalist elite in continually claiming that theirs is the most beneficial form of capitalism in existence. It is as if Europe, with its free education, universal health care, superior infrastructure and superior products (Germany sells exports more than America despite having only one-third of the U.S. work force) didn't exist. The same applies to the U.S. financial system which is a giant Ponzi-scheme that depends solely on selling the nation's mounting debt to other gullible nations. The U.S. manufacturing base has shrunk 60 % since the end of WWII, and GM/Ford are both bankrupt.

The problem is that Americans have gotten so used to flag-waving, anthem-singing and cheerleading that they actually believe their own B.S.. The sooner America learns from Europe the better.

Latest On Hedge Funds, Banks And Bailouts [Housing Tracker]

zebra zebra: Did you miss the AIG boat, and are now simply trying to talk the stock down so as to buy it cheaper? Your conclusion totally contradicts the message in the article you cited. If Ackman, a notorious short-seller, suddenly loads up with AIG stock (as he did successfully with Wachovia) , what does this tell you? Cerainly not that you should 'sell' AIG. Maybe you didn't understand the article, so I'll repeat it below:

“Bill Ackman, who heads the Pershing Square hedge fund [and has been short financials for a long time] has switched gears, snapping up significant stakes in Wachovia and American International Group Inc.(AIG)—his first investments in financial institutions in five years. Mr. Ackman said he began acquiring a 180 million-share, or 9%, stake in Wachovia last Monday, after the North Carolina bank agreed to be acquired by Citigroup Inc. Since then, he’s had the good fortune to see his stake rise significantly after Wells Fargo & Co. trumped Citi’s (C) bid late last week.” (Crain’s NY Business, Oct. 6)

Sounds like a case of sour grapes to me.


On Oct 07 05:16 PM zebra zebra wrote:

> SELL!! AIG is DONE!!