kurt walter

Bank of America May Have to Cut Dividend

All the BAC mistakes are coming home. Buying that dog Countrywide was stupid. BAC could have just waited and picked up the loan servicing dept. for next to nothing. But, no. They paying $50B for Merrill Lynch. Now that was really dumb, too. Overpaying for a brokerage firm that was going down. Could have picked up Merrill's pieces for next to nothing, too. How much longer with shareholders allow BAC management to remain in charge?

Has Buffett Become a Dividend Investor?

St. Warren has become a 10% yield preferred stock investor. Why don't these companies let the public get the same deal?

I'd Rather Hang Myself - Cramer's Mad Money (9/16/08)

BAC takes on CFC and MER in the same year. Stupid. BAC is too big. Layers of management.

Pre-Market Trading in Financials

Credit card debt. .. run from these stocks.

Upbeat Outlook for Credit Card Backed Securities - S&P

credit card debt securities meet subprime debt. ... watch out for the meltdown.

U.S. Bank Dividend Yields Revisited

I don't understand how upper management of most of these banks have a job. Many should have been fired months ago.

These 32 Commercial Banks and Thrifts May See the Dung Hit the Fan

BAC buying CFC is the old story of throwing more good money into a bad initial investment. I am always amazed how often this happens. Poor management caused the current mess. The vast majority of those HELOCs (also know as home ATM money) are worthless. No value. Poof.

HELOCs Disappear, Bankruptcies Increase - Housing Tracker

Clark County, Nevada (Las Vegas) was the wild west when real estate was booming. Now, it is deadman walking.

Are Countrywide Shares Worthless?

Would you put $2.00 on this nag?

Citi Trading Below Book

Citicorp book value is unknown at this point. With all the lousy loans and investments who really knows the value of this dog?

Will BofA Really Buy Countrywide?

BAC should not buy CFC, a dead dog. If BAC management was smart it would wait for CFC is fail and then pick up the loan servicing dept. The rest of CFC is worthless.

BofA/Countrywide Merger Arbitrage Opportunity

CFC is a dog with lots of fleas.

Bank of America Seems Serious About Retaining Its Dividend

They better keep the dividend. Wasting money on Countrywide is bad enough

BofA Will Lose Billions in Countrywide Deal

Forget CFC stock. The whole deal moves with BAC stock now. The .1822 ratio is all that matters now. BAC hopes the CFC loan servicing business turns out to be a moneymaker. The rest of CFC is probably worthless. All those HELOC and 2nd mortgage loans are mostly worthless. BAC did make 1 major investing error: after putting $2 billion into CFC they are now going to throw more good money into a poor situation. Averaging down is a very risky thing. It is going to take years for the current real estate bubble to correct. Proof that CFC management knew their boosts about becoming profitable in the 4th quarter were false. No insider buying by CFC management. It was all talk and no action.

A Contrarian Take On the Countrywide Acquisition

CFC is a play the loan servicing business. The rest of the company isn't worth much. Most of those home equity lines of credit and 2nd mortgages are worth nothing.