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Buckoux

Buckoux
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  • Bank Of America: The Turmoil Mounts [View article]
    yapkk,

    "Management can only do so much."

    Oh, man, that is sch a cop-out!! Would you want to be in a foxhole with Moynihan?
    Apr 24, 2015. 01:14 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Tech Earnings Dominate Headlines; Nasdaq Breaks Record [View article]
    Greek Finance Minister Yanis Varoufakis...is the devil. The "Brimstone" reeks when that demon is in the room.
    Apr 24, 2015. 01:01 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Tech Earnings Dominate Headlines; Nasdaq Breaks Record [View article]
    mike904,

    ""WTF were we thinking?".

    That's what the winners and losers of WW-I may have been wondering in the war's aftermath in the 1920's. Their adult children may have wondered the same thing in the aftermath of WW-II. I think it's not so much; "that those who forget history are bound to repeat it", but it's those who never know history are those most bound to repeat the worst of the past. "We" don't think because we chose not to know.
    Apr 24, 2015. 12:57 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Tech Earnings Dominate Headlines; Nasdaq Breaks Record [View article]
    dcv,

    Interesting article on Quicken Loans vs DOJ. From the article: "Under FHA guidelines, and common sense, an immaterial difference like this [$2.10] is no bar to insurability.". I hope Quicken prevails over the heavy-handed DOJ. Stuff like this has a 'chilling-effect' that so many on the Left decry. Who wants to loan money to those deserving, but of modest of circumstance, when a $2.10 error is going to send the lender to jail?. Not me!!
    Apr 24, 2015. 12:40 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Tech Earnings Dominate Headlines; Nasdaq Breaks Record [View article]
    JC,

    "How do you fail to report $145,000,000 in "contributions" in your Foundation's tax returns?"

    The Clinton's let the public's short attention-span clock run out past the time of: "AT THIS POINT, WHAT DOES IT MATTER!?" and the Dem-MSM conveniently forgets the entire ssue (what 'contributions?' asks chris matthews on dirtball). It's how "Slick Willie" and Hillary have deflected implications since Hillary deducted Bill's old underwear. Some white trash are so dirty that no one, not even the members of their own party, want to touch them. Those that do, want to stew in the drippings.
    Apr 24, 2015. 12:01 PM | 4 Likes Like |Link to Comment
  • Bank Of America: The Turmoil Mounts [View article]
    GBGIANNINI,

    A.P Giannini did not "found" Bank of America, he bought the "Bank of America, Los Angeles" in 1928, that had been established in 1923 by Orra E. Monnette. Giannini appreciated the "branch" system that Monnette developed to handle the cash payrolls of the many company's scattered around Los Angeles at the time. A.P.G. liked the name "America" and its implications for immigrants and dropped the Bank of Italy. Link to history: http://bit.ly/1K9XYTE

    Bank of America has always had troubled relations with its customers, "associates" and shareholders, no matter how and who founded the bank. BofA has always has been it's own worst enemy from 1928 to the present.

    Monnette went on to found the "branch" library lending system based on the same branch model of the early Bank of America, Los Angeles.

    History is much more interesting than "myth". Aviatrix, Amelia Earhart, was not the first woman to fly around the World. In fact, she only disappeared. But, Mrs. Geraldine Mock of Columbus, Ohio did, indeed, fly a single engine propeller airplane, solo, no navigator, around the World in 1964. Earhart gets more credit for trying.
    Apr 23, 2015. 04:03 PM | 2 Likes Like |Link to Comment
  • Fannie And Freddie: Recent Developments Point To Privatization [View article]
    "This is a simple case of the age old question, "does the ends justify the means?".

    And the age old answer is, "thou shalt not covet..."
    Apr 23, 2015. 03:22 PM | Likes Like |Link to Comment
  • Low-rate "torture" for the regional lenders [View news story]
    nasa_rs,

    "If margin rates are lower then make MORE loans."

    Lending doesn't work that way! Making "MORE" loans instead of profitable loans is how we got into this Great Recession in the first place! Interest rates are like blood pressure and right now the patient is unconsciousness and on the floor with a blood pressure of 00Hg. over 00Hg. Except when the Fed buys bonds, (applies pressure to chest), then B/P is 50hg. over, maybe 00hg. Then back to 00Hg./ over 00Hg. but the body is still warm because it's in the Sun!

    The Fed is dehydrating this economy.
    Apr 22, 2015. 04:41 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: China Shares Extend Bull Run [View article]
    JD in NJ,

    "It seems like that's exactly how they work today, at least for every mortgage..."

    Mortgage's in California were different animals back in the 1970's before some brave persons in CA sued Bank of America regarding their mortgage contracts (that later went national). Paying "extra" could trigger a contractual "due on sale" clause and the entire amount could be due the next month. BofA was especially viscous about the language of it's home purchase loans. My family built homes in those days and took back "paper" (2nd. trust deeds) to enable sales (down payment assistance) and "Winter wheat" (income) as the payments were often called. My G-father and Dad refused to loan on any deal involving BofA and FHA. Due on sale clauses were invoked if the borrower got a new job for better money. A new car. A new baby.

    It's really a new day, I admit, but "we" (?) went too far with sub-prime and security-based mortgages, just as lenders were severely short-sighted with their depression-era paranoia of due-on-sale issues.
    Apr 22, 2015. 03:07 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: China Shares Extend Bull Run [View article]
    gggl,

    "The danger is the HFT not the trader."

    I agree. If "time and frequency" are the real issue, not "taxes", than time and frequency regulations are the cure.
    Apr 22, 2015. 02:47 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: China Shares Extend Bull Run [View article]
    Bob 123,

    "Well Buck,
    It would counter HFT trading and generate revenue towards the deficit, which I understand is always a great concern to Republicans,..."

    Which any "sin" tax should NOT be! Condoning an activity because it decreases debt for the Right, or increases revenues for the Left by being bipartisan taxed, is singularly wrong. As in "two wrongs".
    Apr 22, 2015. 02:32 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: China Shares Extend Bull Run [View article]
    gggl,

    "So this basically is a hybrid, it is effectively refinancing your loan everytime you make an additional payment."

    Mortgages could be - and were - designed like that years ago. Extra payments automatically changed the principal owed, but the borrower still needed to pay the regular months payment on time. With more payment going to principal than to interest, both principal and interest decreased (auto-refi). These mortgages could be a very good deal for those financially situated (or disciplined) to take advantage of them. I also liked the extra funds available to me to loan out for <90 days. They were, however, a hard sell as the financial "aerobatics" could be difficult to grasp (even for pilots and engineers). Too bad Dodd-Frank suspects them.
    Apr 22, 2015. 02:14 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: China Shares Extend Bull Run [View article]
    Dusty,

    "The whiz kids...in their lower-Manhattan offices?)...have no clue about the realities of life in that 'unknown' space between the city limits of New York city and San Francisco."

    I do think that some similar "Whiz-Kids", were instrumental in turning "good" real estate deeds (real property as collateral) into the the "junk, investment-grade" securities of the 2000's in an effort to "spread the risk of low income borrowers" (99%'rs) and increase the profits of well intended lenders (1%'rs) thereby paving the road to Perdition. The story was made into a film; Wiki ink to: "Inside Job", (http://bit.ly/1DizR0r.

    The documentary mirrors my own experiences as a local, deed-only-collateral, hard money lender. Long story short, "We" outsmarted ourselves.
    Apr 22, 2015. 01:54 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: China Shares Extend Bull Run [View article]
    smr36,

    "Take the billions of new tax and spend it on decaying infrastructure..."

    Those "billions" can't go to the mythological "infrastructure" that everyone favors to receive any new tax revenues, but these dollars will go to funding public employee pensions. There's a reason the "infrastructure" is suffering.
    Apr 22, 2015. 01:20 PM | 4 Likes Like |Link to Comment
  • Wall Street Breakfast: China Shares Extend Bull Run [View article]
    dcv,

    "The DOJ charges someone? DOJ Cold-Case team must have put in some overtime in the "flash crash" case."

    "[the] Millstones of Justice turn exceedingly slow, but grind exceedingly fine." ~John Bannister Gibson (1780-1853), American jurist, (many attributions to this sayings origins).

    "One lone high-frequency trader seemingly caused a huge problem. Market manipulation?".

    And one "lone high-frequency" whack-job, Gavrilo Princip, ignited, inadvertently, the World Wars of the 20th Century. It would seem Mankind has too many wrong connections and dubious alliances, both politically and electronically. I worry more about that one crazy person, possessed of a tenacious intent and an accidental opportunity, will eventually set off WW-III. I fear him more than I do any heads of state or nuclear weapons (unless he IS a head of state).

    Have a nice day deer.
    Apr 22, 2015. 01:08 PM | 2 Likes Like |Link to Comment
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