zorrow's Comments zorrow's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/323646/comments While more than 40% of borrowers who took out a mortgage at the peak in 2006 are under water, prices have dropped so much that some borrowers who took out loans more than five years ago also owe more than their home's value. Given this, it's hard to believe we've broken out of the housing death spiral. http://seekingalpha.com/news/market_currents/post/37059?source=feed#comment-774950 774950 Tue, 24 Nov 2009 08:46:20 -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-768613 768613 Fri, 20 Nov 2009 08:12:57 -0500 Microsoft and SAP vs. Oracle - A Very Big Deal http://seekingalpha.com/article/173987-microsoft-and-sap-vs-oracle-a-very-big-deal?source=feed#comment-767110 767110 Thu, 19 Nov 2009 09:24:54 -0500 Microsoft and SAP vs. Oracle - A Very Big Deal http://seekingalpha.com/article/173987-microsoft-and-sap-vs-oracle-a-very-big-deal?source=feed#comment-765124 765124 Wed, 18 Nov 2009 08:36:52 -0500 Meredith Whitney: 'I Haven't Been This Bearish in a Year' http://seekingalpha.com/article/173684-meredith-whitney-i-haven-t-been-this-bearish-in-a-year?source=feed#comment-763600 763600 Tue, 17 Nov 2009 09:39:55 -0500 Time for the U.S. Economy to Reindustrialize http://seekingalpha.com/article/173390-time-for-the-u-s-economy-to-reindustrialize?source=feed#comment-763278 763278 Tue, 17 Nov 2009 07:55:37 -0500 Three lunchtime reads: 1) The case for a weak U.S. dollar isn't strong 2) Small businesses, small banks, big problems? 3) A defense of capitalism http://seekingalpha.com/news/market_currents/post/36484?source=feed#comment-758972 758972 Fri, 13 Nov 2009 13:13:26 -0500 No bank - including JPMorgan (JPM) - is too big to fail, Jamie Dimon writes in a Washington Post op-ed this morning. "The term 'too big to fail' must be excised from our vocabulary,'" he says. Dimon's against artificially limiting the size of institutions, but says we need to develop a system that ensures even the biggest bank can be allowed to fail in a way that does not put taxpayers or the broader economy at risk. http://seekingalpha.com/news/market_currents/post/36459?source=feed#comment-758497 758497 Fri, 13 Nov 2009 09:40:09 -0500 Facing 10.2% unemployment, Obama announces a December jobs summit before heading out for a weeklong trip to Asia. "We're obligated to examine new ways to create jobs," the President says. http://seekingalpha.com/news/market_currents/post/36378?source=feed#comment-757254 757254 Thu, 12 Nov 2009 12:03:32 -0500 Facing 10.2% unemployment, Obama announces a December jobs summit before heading out for a weeklong trip to Asia. "We're obligated to examine new ways to create jobs," the President says. http://seekingalpha.com/news/market_currents/post/36378?source=feed#comment-757037 757037 Thu, 12 Nov 2009 10:13:02 -0500 Goldman Sachs' (GS) CEO explains why he pays more: It's because my guys make more money, duh. "What people fail to mention is that net income generated per head is a multiple of our peer average. The people of Goldman Sachs are among the most productive in the world." http://seekingalpha.com/news/market_currents/post/36305?source=feed#comment-755710 755710 Wed, 11 Nov 2009 14:25:08 -0500 David Weidner's advice for the government and [[AIG]]: Let Benmosche go. The CEO of four months has helped morale at the insurer, but by threatening to quit over pay restrictions, he risks making the AIG debate a battle between taxpayers and fat cats - and he's going to lose. http://seekingalpha.com/news/market_currents/post/36316?source=feed#comment-755687 755687 Wed, 11 Nov 2009 14:08:40 -0500 Bailed-out banksters complain (vaguely) that restricting bonuses causes their talent to flee, but Bloomberg nails down where they're going: Nomura and Barclays. Derek Thompson feels some sympathy for the poor devils - after all, a talent exodus will hurt taxpayer-owned institutions - but figures a solution may be to make the bailed-out firms back into retail banks where the brain drain is less likely. http://seekingalpha.com/news/market_currents/post/36068?source=feed#comment-750097 750097 Sat, 07 Nov 2009 16:06:53 -0500 In a brief reaction to a "sobering" jobs report, President Obama said he's examining new measures to spur growth and ran off a list of five: road/bridge investment, energy retrofitting, additional tax cuts for businesses to create jobs, boosting credit to small businesses and support for exporters. http://seekingalpha.com/news/market_currents/post/36038?source=feed#comment-748542 748542 Fri, 06 Nov 2009 14:27:41 -0500 Vermont Sen. Bernie Sanders introduces legislation that would give Treasury Sec. Timothy Geithner 90 days to compile a list of banks, funds and insurers deemed too big to fail, and then break them up within a year. http://seekingalpha.com/news/market_currents/post/36045?source=feed#comment-748522 748522 Fri, 06 Nov 2009 14:17:01 -0500 Also buried in Fannie Mae's (FNM) SEC filing yesterday was that it agreed to sell $2.6B in unused tax credits to unnamed buyers, and received approval (.pdf) for the deal from its regulator, the FHFA. The Treasury is thought to be leery of signing off on the sale, reportedly to Goldman Sachs (GS) and Berkshire Hathaway (BRK.A). http://seekingalpha.com/news/market_currents/post/36014?source=feed#comment-748102 748102
Goldman is down, Hank Paulson comes onto the field. They've lined up! Wow, it's Paulson to TARP to HankBank to PartnerPocket. What a play. They're going for the extra billions. Warren is holding. The kick, it's good they score tax credits. What a game folks. ]]> Fri, 06 Nov 2009 11:26:56 -0500
Goldman is down, Hank Paulson comes onto the field. They've lined up! Wow, it's Paulson to TARP to HankBank to PartnerPocket. What a play. They're going for the extra billions. Warren is holding. The kick, it's good they score tax credits. What a game folks. ]]> Also buried in Fannie Mae's (FNM) SEC filing yesterday was that it agreed to sell $2.6B in unused tax credits to unnamed buyers, and received approval (.pdf) for the deal from its regulator, the FHFA. The Treasury is thought to be leery of signing off on the sale, reportedly to Goldman Sachs (GS) and Berkshire Hathaway (BRK.A). http://seekingalpha.com/news/market_currents/post/36014?source=feed#comment-748053 748053 Fri, 06 Nov 2009 11:02:36 -0500 Sources say Berkshire Hathaway (BRK.A) has joined Goldman Sachs (GS) in a bid to buy $3B in tax credits from Fannie Mae (FNM); the credits are virtually worthless to Fannie Mae. The government, which controls Fannie, is thought to be reluctant to approve a deal that would allow Goldman to save on taxes, but taking widely-respected Buffett as a partner could reduce the tension. http://seekingalpha.com/news/market_currents/post/35794?source=feed#comment-744082 744082 Wed, 04 Nov 2009 09:04:33 -0500 Cramer Does It Again with CIT Call http://seekingalpha.com/article/170457-cramer-does-it-again-with-cit-call?source=feed#comment-741879 741879
Okay then "fun" article in that spirit and context.]]> Tue, 03 Nov 2009 06:03:00 -0500
Okay then "fun" article in that spirit and context.]]> Last fall's investment of $125B in taxpayer money into nine banks gets an unlikely endorsement - from two Chicago-school economists, who say "Paulson's Gift" (.pdf) didn't just redistribute value, it created value. http://seekingalpha.com/news/market_currents/post/35618?source=feed#comment-740931 740931 Mon, 02 Nov 2009 15:43:20 -0500 Here's Why Asia Must Eventually Ditch the Dollar http://seekingalpha.com/article/168911-here-s-why-asia-must-eventually-ditch-the-dollar?source=feed#comment-736663 736663 Fri, 30 Oct 2009 04:30:16 -0400 In a letter to the SEC (.pdf), Goldman Sachs (GS) dispels five common myths about so-called 'dark pool' anonymous trading exchanges. The rest of the 56-page document - which summarizes a Sept. 24 SEC/Goldman meeting - sheds light on short selling, high-frequency trading, flash trading and naked access. http://seekingalpha.com/news/market_currents/post/35050?source=feed#comment-732162 732162 Tue, 27 Oct 2009 09:47:43 -0400 How long is the long-run? According to this table, the 30-year timeframe is the narrowest in which stocks currently beat long-term goverment and corporate bonds. Of course, contrarians will say that recent weakness is precisely why stocks are poised to outperform going forward. http://seekingalpha.com/news/market_currents/post/34956?source=feed#comment-729417 729417 I'm sure there not comparing junk and worthless MBS on the bond side of the equation, so why load the stock side up with junk stocks?]]> Sun, 25 Oct 2009 13:26:33 -0400 I'm sure there not comparing junk and worthless MBS on the bond side of the equation, so why load the stock side up with junk stocks?]]> The U.S. could lose its AAA rating if it fails to reduce its deficit over the next 3-4 years, Moody's says. Earlier this year, markets were spooked after S&P cut its outlook on Britain to Negative from Stable. Meanwhile, Moody's said today European countries' rising debt won't trigger across-the-board downgrades. http://seekingalpha.com/news/market_currents/post/34791?source=feed#comment-725166 725166 Thu, 22 Oct 2009 10:33:04 -0400 The idea of solving too-big-to-fail by splitting banks back into investment and lending components won't work, says Fed Governor Daniel Tarullo: It doesn't prevent risky lending, and the investment sides would then become too big to fail themselves. He says higher capital levels, special charges related to systemic importance, and covering all systemically important firms (not just commercial bank owners) are all required. http://seekingalpha.com/news/market_currents/post/34668?source=feed#comment-723860 723860 Wed, 21 Oct 2009 14:15:20 -0400 The idea of solving too-big-to-fail by splitting banks back into investment and lending components won't work, says Fed Governor Daniel Tarullo: It doesn't prevent risky lending, and the investment sides would then become too big to fail themselves. He says higher capital levels, special charges related to systemic importance, and covering all systemically important firms (not just commercial bank owners) are all required. http://seekingalpha.com/news/market_currents/post/34668?source=feed#comment-723841 723841 Wed, 21 Oct 2009 14:01:05 -0400 The government says it'll be a few weeks before it has the data to decide whether to extend the $8,000 first-time homebuyer tax credit. The IRS' internal watchdog is about to warn the agency for the fourth time about fraud related to the credit - up to $489M possibly granted to unqualified applicants. And Rex Nutting says to kill this ineffective, wasteful subsidy. http://seekingalpha.com/news/market_currents/post/34561?source=feed#comment-722410 722410
P.S. Will the homebuilder stocks bounce if and when the credit is extended?]]> Tue, 20 Oct 2009 14:28:55 -0400
P.S. Will the homebuilder stocks bounce if and when the credit is extended?]]> FDIC head Sheila Bair warns community banks are struggling to compete against their too-big-to-fail rivals. "Too big to fail has become worse," she said, "it's become explicit when it was implicit before." Bair contends government guarantees create competitive disparities between large and small banks, because "everybody knows small institutions can fail," making it more expensive for them to raise capital and secure funding. http://seekingalpha.com/news/market_currents/post/34549?source=feed#comment-722253 722253 Tue, 20 Oct 2009 12:34:53 -0400 FDIC head Sheila Bair warns community banks are struggling to compete against their too-big-to-fail rivals. "Too big to fail has become worse," she said, "it's become explicit when it was implicit before." Bair contends government guarantees create competitive disparities between large and small banks, because "everybody knows small institutions can fail," making it more expensive for them to raise capital and secure funding. http://seekingalpha.com/news/market_currents/post/34549?source=feed#comment-722201 722201 Tue, 20 Oct 2009 12:04:52 -0400 Inflation and the Hierarchy of Needs http://seekingalpha.com/article/167217-inflation-and-the-hierarchy-of-needs?source=feed#comment-720929 720929 Mon, 19 Oct 2009 15:41:53 -0400