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Wall Street Breakfast: Must-Know News

The BofA bailout makes me livid. BofA is paying Merrill's top brokers 2-3 times what they were being paid before to keep them from leaving and now we taxpayers are subsidizing it.

Three Upsides to Bank Bailout 3.0

The BofA bailout makes me livid. BofA is paying Merrill's top brokers 2-3 times what they were being paid before to keep them from leaving and now we taxpayers are subsidizing it.

BofA: Mounting Costs Could Lead to Quarterly Loss

The BofA bailout makes me livid. BofA is paying Merrill's top brokers 2-3 times what they were being paid before to keep them from leaving and now we taxpayers are subsidizing it.

Bank of America Potentially the Next Citibank?

The BofA bailout makes me livid. BofA is paying Merrill's top brokers 2-3 times what they were being paid before to keep them from leaving and now we taxpayers are subsidizing it.

BofA Following Citigroup to $5 or Lower

The BofA bailout makes me livid. BofA is paying Merrill's top brokers 2-3 times what they were being paid before to keep them from leaving and now we taxpayers are subsidizing it.

Real Estate CEFs 'Crushed' YTD 2008

Be very careful. Do not touch any of the funds that employ Auction Rate Leverage as you will get killed. Cohen and Steers (RQI) for example, is still redeeming more of their ARPs as they are being forced to liquidate their holdings which is cannibalizing any fund using leverage. Now that most banks have purchased back the ARPs from their clients, firms such as Merrill and Smith Barney are going to force the fund companies to redeem the ARP's and liquidate their positions which means further selling of the underlying positions to reduce leverage and pay down debt (aka...Auction Rate Preferreds)

Closed End Fund Fire Sale

EXG, AOD, BGY, BFD, DPO, JGG, JGT, VTA...just to name a few.

Talk Me Down From the Wells Fargo Ledge

Ask any banker at Wells and they will tell you that they have seen more deposits in the past two weeks than they have seen in the past two years. And considering that they pay much less than other banks on the deposits, you can only imagine the spread that they are able to make.

Wells Fargo: A Growth Stock During the Great Depression?

The strength of a bank is about deposit dollars and loan quality. Their loan quality was/is definitely better than others but they will have their share of problems. However, the sheer size of the infusion of new deposit dollars, especially over the past 2 weeks, is astonishing. What a different story it is from other banks...