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  • BofA boosted by upgrade [View news story]
    The OBAMA Admin and the " President CEO " are a big disappointment !! For sure , a decent person but a big underperformer.The first warning was him accepting the NOBEL prize while not having achieved anything - totally undeserved.But then the Oslo Peace Prize commmittee is also living in an Alice of Wonderland World, anyway. The Cairo speech, another big let- down. The cnacer in the Mid East has mestasized. Only one big winner is IRAN with Irak exploding into ethnic and religious parts.

    Then we got the DOJ, a rapacious organization with ever growing multi billion $ lawsuits. Where do they take the nubers from ? , why not 50 billion or why not 7 billion ? These fines are not paid by multi million $ paid Execs but the small guy, mall shareholders, pensioners, IRA savings and the small/middle bank employee at BofA., ie the small shareholder who gets no refund from the DoJ. Let's face it BofA saved the US treasury billions at the entire expense of the small shareholder of DEc 2007 /2008 with the disastrous buy of C-WIDE and ML which were worth nothing. The share price dived from $56 to less than 4 bucks. I happen to be one. Peanut dividends since Jan 2009. And the DoJ and the DC Govmt how are they going to waste the billion $ receipts of fines. For sure, it will not go , not one dime, to the smallguy who pays with a falling share price and measly dividends for years while the entire Govmt / public sector , regulators were asleep at the wheel for the crisis. Did anyone at the SEC ever raise a question - " how come we have more than 9,000 triple A rated MBS, COD etc ??
    And then the Execs like Dick Fuld, Mozillo, Stan O'Neil alk home each with more than $ 300 MM to their ranch in Califofrnia that really gets the anger of people.
    An absolute disgrace this story from DC.
    Jul 2 10:48 AM | 1 Like Like |Link to Comment
  • Total sticks with Russian investment strategy, hoping Ukraine tensions fade [View news story]
    TOTAL SA is very well managed ! It rides out specious political obstacles with a long term view. It was far better to stay in communication with Myanmar than to burn the boats on the shore.The company does not kowtow to politicians whose brain horizon is defined by having lived in their home village for the last 50 years.

    As the former US security adviser to President Georg H.W. Bush confirmed in a recent FT article quote:" playing on sanctions with an aggresive Russia is a fool's errand " unquote. The Ukraine is politically and economically in distress. So you need to find an arrangement with Russia like the Viena/Austria situation after WW II. And the " West ", = the "old west", acts without the concert ofChina India Brazil RSA Indonesia etc, has badly managed Russia's concerns about encirclement.
    May 15 10:06 AM | 1 Like Like |Link to Comment
  • Mayo gives thumbs down on BofA annual meeting [View news story]
    Mike Mayo has been a Perma Bear on BofA since time began.. Why does he bother at all to attend conference calls for BAC. Another question is why does he work for CLSA ?, the French banking company is an offspring of the bankrupt Paris based Credit Lyonnais.
    France is hardly a paragon for entrepreunership, rather, much more a model for state bureaucracy and all that is wrong with it. I would respect much more MM's opinion if he worked for Goldman.
    May 9 05:25 AM | Likes Like |Link to Comment
  • Fed special unit to give extra scrutiny to 15 firms [View news story]
    Just another wall of bureaucracy. We had all the laws and rules in place before 2007/2008. This is just another deal for the galleries.
    All regulators - FED ,SEC, OCC, CFTC ,DOJ, Alan GR, FDIC, State Insurance Supervision, NY State Fin Dept., failed to act or were asleep at the switch pre-crisis.
    Who objected to Co2 sqared paper ? None is the answer. And the list of failings is a long one. More walls of papers and armies of inspectors will not change the game for better outcomes.
    May 2 10:13 AM | 3 Likes Like |Link to Comment
  • Black eye: BofA suspends buyback, dividend hike [View news story]
    This is completely unacceptable ! The CFO and his top staff need to take a rigorous referesher course in Basic Business Finance and arithmetic, hand back all their bonuses for last year !
    This is really poor performance, only marginally better than Citi's snafu with the Fed in April.
    When will we ever see BAC finacially performing like a normal company ??

    Of course,
    the DoJ with their financial greed does not help at all !
    Apr 28 09:45 AM | 8 Likes Like |Link to Comment
  • BofA slips amid leak of massive global mortgage settlement [View news story]
    Angela Mozillo( $ 400 MM), Stan O'Neil( over $ 200MM ), Richard Fuld of Lehman ( over $ 300MM), - all numbers were reported in the WSJ, FT etc,- and other real culprits are sittiing on their golden Haciendas with hundredrs of millions $, Rolls Royce cars ( AM, white color) and
    were never dealt the justice the deserve and BofA under Ken Lewis was even so stupid to agree to pay all his legal expenses over USD 5 Million in the case of legal proceedings

    why did Mario Cuomo, Eric Schneidermann and fellow Da's, who all for sure are not shy people, never go after them - something big does not work in US justice
    Apr 26 09:23 AM | 1 Like Like |Link to Comment
  • BofA slips amid leak of massive global mortgage settlement [View news story]
    36 years in executive positios in international banking
    Apr 25 10:29 AM | 3 Likes Like |Link to Comment
  • BofA slips amid leak of massive global mortgage settlement [View news story]
    The Gomvt of Mr Obama thru its DOJ is absolutely rapacious

    Had BofA not bought ML and C .-Wide, these bankrupt companies would have gone straight to the TReasury in DC and ultimately the tax payer NOT to the shareholders of BAC

    and the DoJ claims, will be paid for , as always, by small shareholders, pensioners, savers and the employees of BofA

    and the billions paid to DC by BofA shareholders will be wasted in the public trough

    an absolute disgrace !! - Frankfurt, Germany
    Apr 25 10:28 AM | 6 Likes Like |Link to Comment
  • Investors sue a dozen banks for currency manipulation [View news story]
    sheer lunacy - but no surprise in the US context of totally excessive litigation

    You just sue and always you will harvest some money - that's the way it works !

    Just think about something as crazy as this suit - how do you manipulate FX rates
    in the most liquid product market in the world with daily turnover of USD $ over 4 Trillion -
    Apr 1 09:31 AM | 3 Likes Like |Link to Comment
  • BofA $8.5B mortgage settlement back in court [View news story]
    A total disgrace of the legal system in NY and generally in the USA. Litigation is a prime activity lots of parties . A huge waste inflicted on the productive US economy. I agree with a comment above, it's better not to do business in NYC and move all your operations outside NY state. I have never seen so much ecomic waste inflicted by a legal system as there.
    Feb 20 10:06 AM | Likes Like |Link to Comment
  • Bank of America Corp declares $0.01 dividend [View news story]
    35 years in international banking
    Feb 11 01:01 PM | 2 Likes Like |Link to Comment
  • Bank of America Corp declares $0.01 dividend [View news story]
    not even peanuts !
    Feb 11 01:01 PM | 4 Likes Like |Link to Comment
  • Judge reportedly delays BofA $8.5B settlement [View news story]
    A total disgrace !
    Obviously , AIG has the better political and jurisdictional connections , right ??? One judge is passing the buck to the next one, nothing gets done, and the US has the most expensive litigation production in the entire world ! At what cost to the productive economy, not the one of Wash DC bureaucray, the same in the states, judges, DAs, DoJ and so never stops grinding on, as the common taxpayer has to pay for all this luxury
    Frankfurt, Germany
    Feb 5 09:53 AM | 2 Likes Like |Link to Comment
  • BofA's $8.5B mortgage settlement approved [View news story]
    This must really hurt Mike Mayo at CLSA who hates BAC.
    Jan 31 01:11 PM | 4 Likes Like |Link to Comment
  • BofA's $8.5B mortgage settlement approved [View news story]
    Great stuff !
    BofA really deserves it and its shareholders of . After all, the bank and its shareholders of Dec 1997 paid billions for losses , litigation, compensation etc for the disastrous acquisition of Countrywide and ML.The share price fell more than 95 %. For sure, it saved billions also for the US Treasury and ultimately the US taxpayer. Both companies would have landed straight in bankruptcy after Lehmann went belly up in September of 2008. Though Mario Cuomo nor Erik Schneidermann never ever said thanks to Ken Lewis for his truly horrible mistakes in buying these two outfits. ML ist better but should have gone for zero Dollars over the counter on the Tuesday after Lehmann went bust. But Ken was too starry eyed.
    Frankfurt, Germany
    Jan 31 01:03 PM | 1 Like Like |Link to Comment