CJJ

Stress Tests Were Never a Serious Exercise

Blah, blah, blah. 90% of banks are insolvent 100% of the time if you call them to cash in at the end of a day. 100% of banks are insolvent in even minor recessions. Those are facts. You either understand this and work to solutions within that framework or you'll be writing and reading articles like this for the rest of your life that are purely noise.

Thain Calls Lewis a Liar: BofA Saga Continues

You all weren't whining about Lewis 2 years ago...why not wait 2 more years and see if you're whining then. Let the stock price do the talking outside of the worst recession in 70 years.

As for making it out as if you are the majority, let the results of the votes amid a smear campaign in the media and on the internet show that the loudest and angriest and dirtiest in no way means the majority.

Start writing your articles about how the Government will replace Lewis so you can deflect...

Something's Afoot in CDS: The Merrill - Bank of America Decompression Trade

Most of the commentors and the author basically made a contention that Ken Lewis is as good as done and should be gone as CEO of BAC. Well guess what, as with most posts Tyler Durden makes, its a whole lot of conjecture coupled with little fact.
He whined and he cried and he made it as if he is the majority. The results speak for themselves and he is a crock. So watch who you blindly follow.
Just because you look at yourself as a contrarian doesn't shield you from being a mindle sheep.

Will the Stress Test Seal Ken Lewis's Fate?

Wah, wah, wah...Your money...

I have the Wahmbulance over here to sooth your pain.

Mac, why don't you step in and run Bank of America. I mean your an internet poster. You are really mad. That must make you more than qualified.

Why do we even put dates on things these days? They are worthless. All people do is "leak" information that the lemmings on the web take as fact.

I know its true, I read it on the internet...
-The Angry American Public

On Apr 28 10:26 PM mac123449 wrote:

> According to Reuters, CitiGroup wants to pay bonus to its trading
> unit employees. For manipulating market and making money using our
> money. I think is getting very insane. We all have to start revolting
> for taking our money and the banks making money again playing us
> and lending the same money to us for 15% interest.
>
> INSANINTY AND FRAUD AT LEVEL BEST AND NO ONE RESPONDING.

A Junk Stock Rally

I love how the doom and gloomers call out anyone pointing out a contrarian point of view to their own as "misconception of reality" and "claims with absolutely no basis"...
Why don't you all realize that the market is down almost 50%. It was down almost 60%...That the markets were pricing in depression prices.
Just because typical servere contractions see a huge over-reaction to the downside before returning to the norm doesn't mean this time that will occur. I love how doom and gloomers get to say "this time is different" and at the same time say "this time is the same" when it suit their thoughts.
None of you is right or wrong because predictions are cheap and impossible.
Over the last 16 months the doom and gloomers are right. Over the last 2 months Cetin is right. Who cares really unless your timeframe was 16 months or 2 months.

Something's Afoot in CDS: The Merrill - Bank of America Decompression Trade

My shorts are going to be on fire strikes again. There is absolutely no reason for a business in the USA today to be publically traded if they do not need to be. Not one of the Aholes shareholders was saying a word as this stock quintupled. This arrangement was constructed by the government. Why don't BAC shareholders ask themselves what the stock price and the gernal stock market would be looking like if Lewis did quash the Merrill deal.
Shareholders own the business, blah, blah, blah. Spare your tired line along the "Constitution is law of the country".. Again a capitalism crock of s...For all the conspiracy theorists and contrarians that run rampant here on Seeking Alpha and none talk about the fact that the common shareholder of a company is worthless. You have about as much chance to sway a Presidential election.
So if Ken Lewis is not voted out tomorrow can we have the loudest whiners in the room(akin to today's republicans) admit that just because they say they are the voice of the majority really loud that they aren't actually the majority.
I'm for freedom of opinion not propogation of stupidity and whining.

Thain Calls Lewis a Liar: BofA Saga Continues

Internet Experts strike again. There is absolutely no reason for a business in the USA today to be publically traded if they do not need to be. Not one of the Aholes shareholders was saying a word as this stock quintupled. This arrangement was constructed by the government. Why don't BAC shareholders ask themselves what the stock price and the gernal stock market would be looking like if Lewis did quash the Merrill deal.
Shareholders own the business, blah, blah, blah. Spare your tired line along the "Constitution is law of the country".. Again a capitalism crock of s...For all the conspiracy theorists and contrarians that run rampant here on Seeking Alpha and none talk about the fact that the common shareholder of a company is worthless. You have about as much chance to sway a Presidential election.
So if Ken Lewis is not voted out tomorrow can we have the loudest whiners in the room(akin to today's republicans) admit that just because they say they are the voice of the majority really loud that they aren't actually the majority.
I'm for freedom of opinion not propogation of stupidity and whining.

The U.S. Banking System's Terrifying Balance Sheet

EXXX-freaking-ACTLY. Unless you think earning power of the banks is going to 0, they will pay back TARP and they will pay BILLIONS of dollars in divedend payments to the Government. Maybe people should be more worried to make sure that money goes to paying down the debt or into programs to spur job creation than whining that they would rather banks pay the money back right away and lose those dividends and end up in the same spot in 12 months.
In no calculation of all the money that has been "proposed" do any of the FACT GETTER OUTERS of the doom and gloom ever bring up the point that banks are already paying some of this money back.
You don't loan money out to people at an interest rate and then demand they pay it back right away. That is stupid and exactly what many of you think is needed.



On Apr 09 02:55 PM wobatus wrote:

> If I have a house that is under water and my mortgage exceeds my
> assets, I may be "insolvent", but as long as I have the income to
> pay my mortgage (admittedly many do not unfortunately) I am in no
> need t go bankrupt, and can continue to pay my mortgage, and in the
> fullness of time I will have paid off the debt. I may have overpaid,
> but we'll see.
>
> Time can heal a lot of wounds. We are healing wounds now as americans
> start to save, the current account corrects somewhat, etc. It is
> painful, but things work out in the very long run (I know we all
> die in the long run.)

The U.S. Banking System's Terrifying Balance Sheet

What the f does this mean? Really. You have a real issue with the banks?
God, where were all you mental Hercules at when this was all going down?
Start living in reality. Someone tell me why I have to believe 75% loss in value of ALL houses and ALL DEBT is rational to expect?
Yes, that is rational if you believe it is rational to see a 75% unemployment rate.
Let me clue you into something, the world as you know it would not exists if unemployement reached 75%. We would be in a Mad Max type environment.

Live in fear folks, bunkers will save you.


On Apr 08 11:25 AM Mary LaRue wrote:

> I have a real issue with the banks. It is my best guess that the
> "positive" earnings will be proven as dismal and the stock values
> will once again return to their realistic value(s).

A Cool $200 Billion for Bank of America?

The media is now SPECULATION. The market already turned into a gambling hall. The media used to just report the facts on what happened in the gambling hall.

Media before: Joe just lost his blackjack hand when his 19 was beat by the dealers 20 [Disclosure: No positions]
Media now: Joe is going to lose his next hand based solely on, well, nothing. [Disclosure: I win if people talk about Joe losing or if Joe loses, so lets all really root for Joe to lose]

Will the FHA Be the Next Government Bailout?

The government is funneling many risky or bad risk loans to the FHA. Housing will be nationalized for some period at some point. Its the only way out of the crisis. People will stay in their homes(with 40-50 year loans) but the Government will take 50-100% of any sales profit or take the home over once the people die.
It makes sense and will punish those who took the loans and couldn't afford the homes.
This whole non-recourse loan BS needs to get fixed.

Why GM's Wagoner and Not BofA's Lewis?

Again, a whole lot of lazy internet heroes commenting. Anyone calling for Ken Lewis to step down should also be prepared to write the same article about every banking CEO. The longer the downturn goes the longer the banks will be a problem. This is not some higher level of thinking, its basic and rudimentary.
These mergers were all called for by the US Government. The government can't very well go in and fire all these guys when the exact reasons you are calling for his ouster was forced by the Government.
I didn't hear any of you people calling for Bank CEOs on the way up. Its the good ole, don't ask questions until your bets go bad and then whine and complain the CEO away.
Keep on interneting it up, you're saving the world one comment at a time.
Bloggers are saving the world a million mindless blogs at a time.

Exclusive: Big Banks' Recent Profitability Due to AIG Scam?

Wake us all up when you have a shred of fact. Can't wait until bloggers save the world. Oh yea, you can't save the world sitting behind a computer.
This guy does a good job, but he's also the same guy who quoted a silly senator that claimed all money market funds were minutes away from being pulled back in September. That one was categorically false.
Believe what you want to believe. Just like religion, make believe may sound good but it ain't real.

What Else Are the Banks Hiding?

You when good money becomes bad money? When you give banks $700 billion that they are paying yield and dividends on that if you give it time they will pay back and idiots are clammoring to have the banks fail or to pay back the money as soon as possible.

Hey let's all root for AIG to fail AFTER we already own them. That's like putting $500 on a 10-1 horse and shooting it in the leg before the race.

On PPIP and Geithner's Latest Power Grab (Linkfest)

This is the perfect article that sums it up. The author starts off by "How can one simple little human being keep up with everything?"...The answer: BLOGGERS and MEDIA to the rescue

Let me make this clear BLOGGERS AND THE MEDIA are selling SENSATIONALISM AND EDITORIAL. These are not facts. They are opinion pieces no matter what stupid graph or stat these guys roll out.

Am I supposed to ascertain that by going to all of Mr. Svartsman's links that I will now be well on my way to knowing the FACTS?

NO, what I am guaranteed to know after following these links is WHAT THIS GUYS AGENDA IS.

BLOGGERS AND THE MEDIA ARE NOT THE ALMIGHTY. THEY ARE HEADLINE GRABBING, RUMOR MONGERING EDITORIALISTS WITH AGENDAS.

The Newspaper bubble has burst. Bloggers are next.