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  • Wall Street Breakfast: Must-Know News [View article]
    Yes, the consumer is going bankrupt, unable to afford his mortgage and struggling to find a job, whilst the fat cats on Wall Street and in the financial and banking sector pay themselves ever increasing amounts for providing the conditions that enable them to reap big benefits whilst everyone else pays the price.

    It's long past time for society to realize that happiness is not dollar shaped, and that all people matter, not just the rich and powerful: when politicians and others with influence actually work on this premise, then perhaps we may get a capitalist society that also cares.
    Nov 05 08:55 am |Rating: +6 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    So the good news about banks and financials goes on. This one will ride for a good while longer so it seems, so I'll buy some and hope it continues long enough to get out at aporfit when the reversal comes.

    Whatever the numbers, the spin will be that it's all good, and more money will be committed to the market regardless, so those selling will not bring it down too much at this time. The trend is your friend, until it's not, so I'll go with the trend for now.

    Even bears have horns when needs must.
    Aug 06 07:53 am |Rating: +5 -1 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Well, well! So the banks are raising equity to pay back TARP. How predictable: their stock prices were in tatters not so long ago, and the government with our tax dollars bailed them out. Now we've had a couple of months stock price ramping, especially the banks and financials, so they can sell new shares at a much higher price to raise cash to pay back the government on the cheap. And the new overpriced stock will be sold to ...? You've guessed it, tax-payers. We get a double whammy. I won't be buying any of this new stock until the price has fallen to what may be considered a realistic level, which is nowhere where it is now. Trouble is, many mutual funds and 401k will be buying with our money, whether we like it or not. So, a triple whammy for some!
    Jun 02 09:23 am |Rating: +8 -5 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    I wholeheartedly agree with doubleguns.

    On May 15 07:44 AM doubleguns wrote:

    >"Cetin read the article today before you start your "its a wonderful
    > world" script today.
    >
    > Insurers getting tarp money, EU GDP falling, Govt taking over BoA
    > board, BoA stock dumped (for a loss), Jobless claims up, Prices up,
    > Mortgages rates up, short bond rates are still going down and the
    > economists still have thier heads in the clouds."
    .........................
    In addition, insurers getting TARP funds is one more sign of problems not yet admitted to. The banks bad assets show more quickly due to the nature of the business, which is precisely why insurers bad assets can be hidden for so long. They could be holding bonds riddled with defaulting debt, mortgage, credit card, car etc ... , but as insurers pay-outs stretch years into the future, it could be a long time before they have to own up to the non-performing assets and the write-offs that go with that.

    I also agree with doubleguns later comment: I need a drink!
    May 15 09:49 am |Rating: +2 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Well, now we'll have a financials rally, which I have enjoyed today with a buy and sell of FAS, thank you; but longer term there is still a lot of bad news yet to come. So enjoy short term trading of financials, but don't own for investment just yet, unless you don't mind losing money. You bulls mark me down for this: I can take it. Losing money, I can't.
    May 08 12:51 pm |Rating: +3 -1 |Link to Comment
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