David Fry has a soul. The Airplane over Orwell's Big Brother puts everything into proportion, considering logic is dead. Well done. I'm now going to have a talk with Alice about the market's direction for 2009.
Those gold infomercials have been running for at least a year. Check the charts for the gold peak at $1,000. It's now 30% less.
On Dec 04 10:56 AM Byron_G wrote:
> Dow equal to Gold almost happened on January 21, 1980 -- followed > by a 20% drop in gold within two days, and a 50% drop in gold prices > within 2 months. So, gold "might" be equal to the Dow at some point > in the near future, but it would not be a sustained event. > > Anybody else seen all "Buy Gold Now!" infomercials on TV and the > radio lately? I'm not going to start investing in an asset class > that is currently at it's peak.
Pathetic. Rubin should "pursue other opportunities" or say he is "leaving to spend more time with his family". Spare the current employees and share holders any more failure and just leave. His claim that he would not have nay granular knowledge of the bank's strategy is complete nonsense. Long "C".
Three Financial Stocks Worth Holding [View article]
Consider the "undisclosed" risks: JPM has largest deivative book in the world, Wells received secret ruling from Treasury to take immediate tax losses on Wachovia loans (possibly illegal), BAC faces huge integration problems with Countywide (overpaid) and Merrill Lynch (overpaid). Commercial real estate loans are pending problem as they go past 90 days due. Consumer credit losses will also mount in the coming months. You believe they have adequately reserved for this? I'm not convinced the risks are less than the opprtunities here. Note: Long WFC, BAC, USB. Sold C and JPM recently.
What Obama Needs to Know about Tim Geithner, the AIG Fiasco and Citigroup [View article]
Will Dimon show us the details of his portfolio? That would clear up this issue. Otherwise, JPM is sitting on the largest derivative portfolio in the world. Transparency anyone?
On Nov 27 08:59 PM roy mckoi wrote:
> STUPIDITY PUBLISHED HEREIN > THE VAST MAJORITY OF CDS HAVE NOTHING TO DO WITH THE TYPE OF RISKS > AIG AND THE MONOLINE TOOK: SUPER SENIOR ABS CDO RISK.... > > THE VAST MAJORITY OF JP MORGANS CDS IS PROBABLY SINGLE NAME AND PORTFOLIOS > OF IG CORPORATES..STOP THE GLOOM AND DOOM, ESPECIALLY WHEN YOU KNOW > NOTHING ABOUT WHAT YOU ARE WRITING!!!!!!!!!!!!!!
Buy an interim term corporate debt mutual fund yielding 6% or a Ginnie Mae fund yielding 4.5% to obtain both yield and relative safety. Treasuries will yield next to nothing soon. Rtae cuts are coming.
Citi's Destructive Potential Still Poses Systemic Threat [View article]
What nonsense! Rangel,is an old style politician who "didn't know" 1.) he had four contiguous rent stabilized apartments, 2.) didn't know he received benefits from his Dominican Republic condo and 3.) didn't trade contribution favors for a tax break for an oil driller so he could have his name on a public university building. If you say so.....
On Nov 26 04:17 AM investfarm wrote:
> Congressman Charles B. Rangel of New York, the first African American > chairman of the House Ways and Means Committee, and a leading Democrat > who represents the Franklin D. Roosevelt impulse inside the Congress, > is the target of an ongoing British bankers-directed character assassination. > The attack is nothing less than a British operation to shred the > U.S. Constitution with an assault on Congress, in the midst of the > worst financial crisis in history. > > That the attack--led by the {New York Post} and the {New York Times}--comes > the same week as the Citibank bailout engineered by Treasury Secretary > Henry Paulson is no accident. Despite all of Paulson's assurances, > Citibank is just the first of many, many more mega-bailouts, and > just like before, Rangel is being targetted because he is an obstacle, > who threatens to block the financier schemes to impose fascist looting > on the population, while doling out un-Constitutional bailouts to > the speculators. In the summer of 2008, the unlimited bailout of > Fannie-Freddie, announced by Paulson on Sept. 7, 2008, which is tantamount > to treason, had been rejected by Rangel's committee earlier. Rangel > and his committee limited Paulson's ``bazooka'' to $800 billion, > and insisted on making it transparent, by raising the U.S. debt ceiling > from $9.6 trillion to $10.4 trillion. > > Now, with the financial crisis escalating, so is the attack on Rangel. > The {New York Post,} owned by the Queen's own Rupert Murdoch, relaunched > its attack on Nov. 23, shortly after Rangel was renamed Chairman > of the Ways and Means Committee. The financiers' cabal had hoped > that Rangel would be purged as part of a Pelosi shakeup that ousted > Rep. John Dingell (D-MI), the long-time head of the House Energy > Committee. Many House members opposed the replacement of Dingell, > including Rangel, who said, ``This is the burial of the seniority > system. I would be surprised if I was challenged, for the same reason > that Mr. Dingell was very surprised.'' > > As in the Summer, 2008, the New York ``Post and Times'' assault on > Rangel has been based on innuendo. On Nov. 23, the "Post and Times" > reported supposed tax fraud where Rangel claimed a ``homestead'' > tax status for a home in Washington, D.C., but "the property was > sold more than eight years ago'' and Rep. Rangel's accountant has > been asked to "retrieve the records about it," said a spokesman. > Then, on Nov. 25, the {Times} hit with their version of a heavy weapons > attack--a front page story, with a full page jump, saying that Rangel > favored legislation in 2007 that opposed retroactive tax increases > for U.S. companies that registered offshore, and that this helped > a company called Nabors Industries by preserving its tax shelter. > Before and after the legislation, a Nabors executive gave contributions > to a library at the City College of New York (CCNY), for which Rangel > had requested charitable contributions from some 47 corporations > reported the {Times}. But the Times admits that Rangel has strongly > opposed legislation for retroactive tax increases. >
Excellent article and long overdue. Greed promoting fear is driving down investment values. Put naked short sellers in jail and stop these collusive trades!
Citigroup: Not the Reaction a Bailout Should Get [View article]
Cit's board is an embarrassment. All board compensation should be cut to $1 for 2009 if they don't resign (which they should.) The top 25 executives at Citi should voluntarily agree to work for $1 with no bonusues (cash, restricted stock or options) for 2008. The next 200 executives should get no bonus for 2008 and have their salary capped at $150,000 for 2009. If you mismanage my investment in the common and eliminate the dividend, its the least you could do. Goldman tokk the lead; you should match it quickly. I sold 50% of my posiiton last week. Long "C"
Financially, Citi can survive. Short sellers are on the rampage and naked short sellers should be put in jail! Paulson has chosen to leave his job early and should be fired immediately for incompetence. Bush just left the country in a crisis. Reinstate the uptick rule and provide Citi a bridge loan. Otherwise, Citi's failure will show us what the "new" great deprssion will look like when the government institutes a national bank holiday through the end of January 2009.
Felix writes a "social column" suitable for the financial tabloids without any financial analysis. Dick Parsons would be a disater given his track record. Citi is in deep trouble and could get out if it with better leadership. Cash flow and reserves will buy Citi time to work thrugh the extensive SIV's, etc. but they need more focus. Long "C"
Friday Outlook: Commodities, Emerging Markets [View article]
Dow Will Equal Gold in 2009 [View article]
On Dec 04 10:56 AM Byron_G wrote:
> Dow equal to Gold almost happened on January 21, 1980 -- followed
> by a 20% drop in gold within two days, and a 50% drop in gold prices
> within 2 months. So, gold "might" be equal to the Dow at some point
> in the near future, but it would not be a sustained event.
>
> Anybody else seen all "Buy Gold Now!" infomercials on TV and the
> radio lately? I'm not going to start investing in an asset class
> that is currently at it's peak.
Three Financial Stocks Worth Holding [View article]
On Nov 30 02:28 PM jegan ;-) wrote:
> Well... As much as I don't like or trust banks, you are in good company
> with Ken Heebner.
>
> jegan
Rubin's Teflon Finally Wears Off [View article]
Three Financial Stocks Worth Holding [View article]
What Obama Needs to Know about Tim Geithner, the AIG Fiasco and Citigroup [View article]
On Nov 27 08:59 PM roy mckoi wrote:
> STUPIDITY PUBLISHED HEREIN
> THE VAST MAJORITY OF CDS HAVE NOTHING TO DO WITH THE TYPE OF RISKS
> AIG AND THE MONOLINE TOOK: SUPER SENIOR ABS CDO RISK....
>
> THE VAST MAJORITY OF JP MORGANS CDS IS PROBABLY SINGLE NAME AND PORTFOLIOS
> OF IG CORPORATES..STOP THE GLOOM AND DOOM, ESPECIALLY WHEN YOU KNOW
> NOTHING ABOUT WHAT YOU ARE WRITING!!!!!!!!!!!!!!
The Race to Zero Interest Rates [View article]
Did Citi Suffer a Run on Deposits? [View article]
Citi's Destructive Potential Still Poses Systemic Threat [View article]
On Nov 26 04:17 AM investfarm wrote:
> Congressman Charles B. Rangel of New York, the first African American
> chairman of the House Ways and Means Committee, and a leading Democrat
> who represents the Franklin D. Roosevelt impulse inside the Congress,
> is the target of an ongoing British bankers-directed character assassination.
> The attack is nothing less than a British operation to shred the
> U.S. Constitution with an assault on Congress, in the midst of the
> worst financial crisis in history.
>
> That the attack--led by the {New York Post} and the {New York Times}--comes
> the same week as the Citibank bailout engineered by Treasury Secretary
> Henry Paulson is no accident. Despite all of Paulson's assurances,
> Citibank is just the first of many, many more mega-bailouts, and
> just like before, Rangel is being targetted because he is an obstacle,
> who threatens to block the financier schemes to impose fascist looting
> on the population, while doling out un-Constitutional bailouts to
> the speculators. In the summer of 2008, the unlimited bailout of
> Fannie-Freddie, announced by Paulson on Sept. 7, 2008, which is tantamount
> to treason, had been rejected by Rangel's committee earlier. Rangel
> and his committee limited Paulson's ``bazooka'' to $800 billion,
> and insisted on making it transparent, by raising the U.S. debt ceiling
> from $9.6 trillion to $10.4 trillion.
>
> Now, with the financial crisis escalating, so is the attack on Rangel.
> The {New York Post,} owned by the Queen's own Rupert Murdoch, relaunched
> its attack on Nov. 23, shortly after Rangel was renamed Chairman
> of the Ways and Means Committee. The financiers' cabal had hoped
> that Rangel would be purged as part of a Pelosi shakeup that ousted
> Rep. John Dingell (D-MI), the long-time head of the House Energy
> Committee. Many House members opposed the replacement of Dingell,
> including Rangel, who said, ``This is the burial of the seniority
> system. I would be surprised if I was challenged, for the same reason
> that Mr. Dingell was very surprised.''
>
> As in the Summer, 2008, the New York ``Post and Times'' assault on
> Rangel has been based on innuendo. On Nov. 23, the "Post and Times"
> reported supposed tax fraud where Rangel claimed a ``homestead''
> tax status for a home in Washington, D.C., but "the property was
> sold more than eight years ago'' and Rep. Rangel's accountant has
> been asked to "retrieve the records about it," said a spokesman.
> Then, on Nov. 25, the {Times} hit with their version of a heavy weapons
> attack--a front page story, with a full page jump, saying that Rangel
> favored legislation in 2007 that opposed retroactive tax increases
> for U.S. companies that registered offshore, and that this helped
> a company called Nabors Industries by preserving its tax shelter.
> Before and after the legislation, a Nabors executive gave contributions
> to a library at the City College of New York (CCNY), for which Rangel
> had requested charitable contributions from some 47 corporations
> reported the {Times}. But the Times admits that Rangel has strongly
> opposed legislation for retroactive tax increases.
>
The CDS Anti-Matter Bubble [View article]
Citigroup: Not the Reaction a Bailout Should Get [View article]
Citigroup: The End Draws Near [View article]
Parsons Is a Poor Candidate for Chairman of Citigroup [View article]
REITs Are Gold Mines on the Short Side [View article]
Citi's Desperate Straits [View article]