hwood007

Too Big to Fail: Greenspan Adds His Voice to the Break-Up Chorus

How can the gov use tax payers money to create an even bigger bank, such as BAC, have BAC save Merrill Lynch, and then break it up into parts? How and who gets the money from the "increased" value? They created these too big to fail banks, so they have to live with them.

Fed Finds a Way to Use Stress Tests to Screw Bank Shareholders One More Time

During the past, a certain group of people were not allowed to own farms and other businesses to make a living in many countries. But they were allowed to loan money, which they did, and earned a place in history and in so doing that, earned the abuse of many powerful leaders for doing so. The person who took over the Weimar government hated those bankers so much, he tried to kill them all. Bankers have never been loved.


On May 29 08:28 AM jhawkinstx wrote:

> Oh yes, lets damn Chase, BofA, and Wells Fargo shareholders....last
> time I looked those were the well run banks that cleaned up the crap
> of Countrywide, Merril Lynch, Bear Sterns, WAMU, and Wachovia at
> minimal cost to the taxpayers......at the shareholders expense.........
> The constant colpaining about the TARP is disgusting........ the
> minutes of the meeting between the Sec Tres, Fed, and heads of the
> 19 TARP banks were released a couple of weeks ago showing that the
> banks were mandated to take the money......money that cost the governemnt
> 1.8% to borrow via bonds and that the TARP banks are paying 5-8%
> dividends to the government on.......last time I checked.....18 of
> the 19 TARP banks showed multi-billion profits in 2008(except citibank).
> This whole thing has been a bunch of crap to distract the "sheeples"
> in America away from point their fingers at the government who caused
> this mess....... For 2000 years it has been convenient to blame the
> bankers......it has worked again.......

Fed Finds a Way to Use Stress Tests to Screw Bank Shareholders One More Time

I will assume this writer does not vote any shares he/she owns and may not know how hard it is to vote out a board member supported by management. Hard is not the correct word, I have voted against board members and written notes on proxy cards and can not see any results for my efforts.


On May 28 10:44 PM Allamad wrote:

> Bank shareholders deserve to be screwed, they voted in these inept
> managements! It's the banks that went to the taxpayers whining for
> help last September after they engaged in all the reckless lending
> practices.

Wall Street Allowed to Grade Itself in Stress-Test Sham

If the writer would not buy anything requiring dollars, then why is he writing on things sold in dollars? He has displayed some bias.

Banking: Will the New Be Better than the Old?

Based on how the BAC -Merrill deal seems to have gone down, how can we believe anything banks say? There are too many places to hide debt and some of them do not appear on the books in a manner you can understand. I own two banks, CNB and BAC and I am not sure how long I will hold these things..

Financial Sector Review of Net Income and Dividends

I can muck up the spelling of many words, but not "their", rather takes away from the rest of the message, which would have been OK without the illegal comment. The flu lives in moist particles from the lungs. If I have it and sneeze into my hand, you shake hands with me, and then pick your nose, you may give yourself my flu. Once the moist particles are dry, "there" is little chance that they will harm you.

Warren's (Ridiculous) Prescription for Banks: Wipe Out Shareholders, Fire CEOs

I think some of the banks could return the money now and some can not. The question is will the government allow them to return the money early? In the case of BoA, I think they were OK until they took on Merrill and wanted not to do so at the last but did so at pistol point, so now she wants to do what? We can not close down these firms and we convert them to government banks, what then. Our people in congress were already in charge of oversight and now she wants them to manage all the functions of these companies. Good luck, our government can not manage the few processes they currently own.

The Wall Street Journal Shamelessly Criticizes Capitol Hill Bonuses

The fact that under these hard times, when congress says every one needs to cut back, they do the less than funny thing. I thought such extra money was for those who had done a special job above and beyound and I do not see where congress did such a job. It would have been a good time to show another side of congress but they let that also pass. It has come to the point that I can not approve of either their actions or inaction. I will be voting again for change in 2010.

Accounting Rule Changes Creating False Rally in Financials

I see one diffence, a bank holds a loan that is worth a stated value when paid to full term. If we lower that value because a home market has changed it does not matter to the bank as long as I pay the loan until complete. My home may be worth less this year than last but I am not a fool and do not use my house as an investment in wealth, I use it as a place to live and grow food in the yard. Mark to market should have zero influence on how much my bank values my home as long as I am not selling it. That brings new worries to me and the bank and that remains the difference, all loans are being treated as if the house were for sale.


On Mar 15 06:46 AM GSaad wrote:

> The congress again is attempting to choose the easy solution,doing
> away with mark to market.
> If my stocks,options,futures... marked to market daily,
> why should the Banks not be subject to the same rules.
> The idea that holding those assets till maturity would
> make them worth more is preposterous.Did those guys hear
> about the concept of present value?
> I cringe to see Senator Dodd,and Rep Frank,make financial statements,as
> I do Cramer on mad Money,who by the way just discovered technical
> analysis.
> It is farcical.
>

Cramer's Mad Money - The Wal-Marts of Healthcare (3/6/09)

like any broken clock, Cramer is right several times each day. The SKF etf to short financials is a bad tool in my opinion as it gives each dollar used to sort the group a multiplied power to bring down a group of stocks. If you want to short a stock, go ahead, use the normal rules, but the new short ETFs are an ill thought out idea.

Cramer's Mad Money - The Wal-Marts of Healthcare (3/6/09)

I enjoy reading strong opinions but I rather read them from some one with a published profile.


On Mar 09 09:56 AM The Flatlander wrote:

> Tsk, tsk, poor bankies. If they weren't so damn greedy they would
> never have been in this situation. Swim or sink, we need to clean
> out the trash anyway!

Bank of America: A Risky Bet That May Be Worth It - Barron's

I have limit orders for BAC and CNB outstanding now, i have talked with employees of both and they think their bank will recover..


On Mar 08 03:56 PM Mayascribe wrote:

> Right now, as I write this 3:54PM, my Wells Fargo broker is in Washington,
> D.C., meeting with a House Finance Committee congressman from Scranton,
> PA, with four "chosen" brokers from other big houses. The discussions
> today are about the "loosening" of M2M. Last week, there were preliminary
> hearings about M2M, and they continue today, and will until the Scranton
> congressman meets with Barney Frank on Wednesday.
>
> I had dinner last night with my broker; who really is my mother's
> broker. He was the only non-family member that my mother wanted to
> attend her 90th birthday. He's known me since "before I was born."
> He states the same thing the Pete Najarian ("Fast Money" commentator
> and owner of Options Monster) stated, that if M2m is loosened, then
> banks stocks will double on March 12th.
>
> In the rather latest but apropo cliche, "Buy the rumor, sell the
> news," I will continue on with my Friday's purchasings of bank stocks
> with my high risk e-trade account, moving into banks stocks Monday
> morning, more aggressively after I talk to my broker tomorrow, and
> keep adding if I see the financials gaining as the rumor persists.
>
>
> (My broker, thank heavens, is my conservative side. He shakes his
> head at how aggressive I am with my e-trade account. But heck, it's
> up 42.6% since I started trading last July 2nd.)
>
> Hope this semi-inside scoop helps all who keep up on this sort of
> news. Prepare yourself for a potential big pop in the financial sector
> this week. Then check me out over in the gold section of SA later
> on. I will be there!
>
> Good luck!

Bank of America: A Risky Bet That May Be Worth It - Barron's

perhaps the SKF ETF should be terminated for 6 months to help out the banks which may be viable but subject to pressure from shorts.


On Mar 08 08:09 AM Ranchr wrote:

> Bring back the uptick and end M2M. The shorts relentlessly pound
> B of A and other stocks into oblivion and M2M creates a false picture
> of a banks balance sheet.
>
> I have two mortgages with B of A and because I put 20% down on 15
> year mortgages 5 years ago, I will not default and because I don't
> believe they are evaluating each and every mortgage out there, the
> value of my mortgages is now being driven down when it is worth every
> penny of it's original value as are at least 80% of all mortgages
> but the hit to the balance sheets has been far more than 15 to 20%.
>
>
> I say again dump M2M and bring back uptick.

Cramer's Mad Money - Obama, Take a Break (2/3/09)

this is a myth and in this case, is an upgraded myth to contain names of current people in washington. check it out in "snopes"


On Mar 04 10:20 AM gotnochips wrote:

>
>
> Washington, DC (seekingalpha.com/symbo...)
> President Barack Obama and the democrat controlled Congress are considering
> sweeping legislation that will provide new benefits for many Americans:
> The Americans With No Abilities Act. AWNAA is being hailed as a major
> legislative goal by advocates of the millions of Americans who lack
> any real skills or ambition.
>
> "Roughly 50 percent of Americans do not possess the competence and
> drive necessary to carve out a meaningful role for themselves in
> society," said California Senator Barbara Boxer. "We can no longer
> stand by and allow People of Inability to be ridiculed and passed
> over. With this legislation, employers will no longer be able to
> grant special favors to a small group of workers, simply because
> they have some idea of what they are doing."
>
> In a Capitol Hill press conference, House Majority Leader Nancy Pelosi
> and Senate Majority Leader Harry Reid pointed to the success of the
> U.S. Postal Service, which has a long-standing policy of providing
> opportunity without regard to performance. Approximately 74 percent
> of postal employees lack any job skills, making this agency the single
> largest U.S. employer of Persons of Inability.
>
> Private-sector industries with good records of non-discrimination
> against the Inept include retail sales (72%), the airline industry
> (68%), and home improvement 'warehouse' stores (65%). At the state
> government level, the Department of Motor Vehicles also has an excellent
> record of hiring Persons of Inability (63%).
>
> Under The Americans With No Abilities Act, more than 25 million "middleman"
> positions will be created, with important-sounding titles but little
> real responsibility, thus providing an illusory sense of purpose
> and performance.
>
> Mandatory non-performance-based raises and promotions will be given
> so as to guarantee upward mobility for even the most unremarkable
> employees.
>
> The legislation provides substantial tax breaks to corporations that
> promote a significant number of Persons of Inability into middle-management
> positions, and gives a tax credit to small and medium-sized businesses
> that agree to hire one clueless worker for every two talented hires.
>
>
> Finally, the AWNAA contains tough new measures to make it more difficult
> to discriminate against the non-abled, banning, for example, discriminatory
> interview questions such as, 'Do you have any skills or experience
> that relate to this job?'
>
> "As a Non-abled person, I can't be expected to keep up with people
> who have something going for them," said Mary Lou Gertz, who lost
> her position as a lug-nut twister at the GM plant in Flint, Michigan,
> due to her inability to remember "rightey tightey ,lefty loosey".
>
>
> "This new law should be real good for people like me," Gertz added.
> With the passage of this bill, Gertz and millions of other untalented
> citizens will finally see a light at the end of the tunnel.
>
> Said Senator Dick Durbin (D-IL): "As a Senator with no abilities,
> I believe the same privileges that elected officials enjoy ought
> to be extended to every American with no abilities. It is our duty
> as lawmakers to provide each and every American citizen, regardless
> of his or her inadequacy, with some sort of space to take up in this
> great nation and a good salary for doing so."
>
>
>
>

Cramer's Mad Money - Obama, Take a Break (2/3/09)

this comment is one of the better ones ever....


On Mar 04 10:20 AM gotnochips wrote:

>
>
> Washington, DC (seekingalpha.com/symbo...)
> President Barack Obama and the democrat controlled Congress are considering
> sweeping legislation that will provide new benefits for many Americans:
> The Americans With No Abilities Act. AWNAA is being hailed as a major
> legislative goal by advocates of the millions of Americans who lack
> any real skills or ambition.
>
> "Roughly 50 percent of Americans do not possess the competence and
> drive necessary to carve out a meaningful role for themselves in
> society," said California Senator Barbara Boxer. "We can no longer
> stand by and allow People of Inability to be ridiculed and passed
> over. With this legislation, employers will no longer be able to
> grant special favors to a small group of workers, simply because
> they have some idea of what they are doing."
>
> In a Capitol Hill press conference, House Majority Leader Nancy Pelosi
> and Senate Majority Leader Harry Reid pointed to the success of the
> U.S. Postal Service, which has a long-standing policy of providing
> opportunity without regard to performance. Approximately 74 percent
> of postal employees lack any job skills, making this agency the single
> largest U.S. employer of Persons of Inability.
>
> Private-sector industries with good records of non-discrimination
> against the Inept include retail sales (72%), the airline industry
> (68%), and home improvement 'warehouse' stores (65%). At the state
> government level, the Department of Motor Vehicles also has an excellent
> record of hiring Persons of Inability (63%).
>
> Under The Americans With No Abilities Act, more than 25 million "middleman"
> positions will be created, with important-sounding titles but little
> real responsibility, thus providing an illusory sense of purpose
> and performance.
>
> Mandatory non-performance-based raises and promotions will be given
> so as to guarantee upward mobility for even the most unremarkable
> employees.
>
> The legislation provides substantial tax breaks to corporations that
> promote a significant number of Persons of Inability into middle-management
> positions, and gives a tax credit to small and medium-sized businesses
> that agree to hire one clueless worker for every two talented hires.
>
>
> Finally, the AWNAA contains tough new measures to make it more difficult
> to discriminate against the non-abled, banning, for example, discriminatory
> interview questions such as, 'Do you have any skills or experience
> that relate to this job?'
>
> "As a Non-abled person, I can't be expected to keep up with people
> who have something going for them," said Mary Lou Gertz, who lost
> her position as a lug-nut twister at the GM plant in Flint, Michigan,
> due to her inability to remember "rightey tightey ,lefty loosey".
>
>
> "This new law should be real good for people like me," Gertz added.
> With the passage of this bill, Gertz and millions of other untalented
> citizens will finally see a light at the end of the tunnel.
>
> Said Senator Dick Durbin (D-IL): "As a Senator with no abilities,
> I believe the same privileges that elected officials enjoy ought
> to be extended to every American with no abilities. It is our duty
> as lawmakers to provide each and every American citizen, regardless
> of his or her inadequacy, with some sort of space to take up in this
> great nation and a good salary for doing so."
>
>
>
>