User 68127

Fixing America's Banks: Geithner Doesn't Have the Right Answer

Rather than the aggregator bank, run by the government, why not just get rid of mark to market? Then the banks could keep, modify, or foreclose their own pool of loans without having to start the death spiral of writedowns, capital raising...

I hate to say it, but I think even the banks are better equipped than the government to work out these loans. If only the govt would get out of the way with their misguided regulations. But then they would not be able to control the world and use their policies and threat of policies to buy votes and impose a utopian socialist world view...

How Much Credit Is Too Much? Where AmEx Went Wrong

I have carried a Discover card for more than 20 years. Two or three times a year, a merchant will refuse to accept it, and then I just pull out my "prestigious" Mastercard instead. There is no fee and I get cash back. Of course, I probably do not dine at the same caliber of restaurant as some of the sophisticates, LOL!

Maybe I'm missing something, but I have never noticed any stigma attached to using Discover, not that I would care anyway. I do not live in a trailer, I have all my teeth, my wife does not have big hair, I DO take the kids to McDonald's occasionally...the fact that self-important snobs need a "higher class" card to validate their self-worth only makes me feel better about the card I choose to carry...

Banking Sector: 'Buy When There's Blood in the Streets'?

Good explanation of BOLIs. As for your "trust us and we'll tell you when to buy" assurance--where's the beef? Why should we trust you?

Vikram Pandit's Amazing Disappearing Hedge Fund

Another example of Citi's disregard for its shareholders. $800 million of shareholder money transferred into Vik's pocket. And, like the Federal government, those who fail are rewarded with more and more responsibility in order to "fix" what they themselves have broken. Even at $26 C is still a short. Is there anything that they do that does not destroy value?

Citi's Bloat Prevents More Effective Risk Management

Yeah. Hey, and maybe we could get the U.S. government to be efficient and well-run too!