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mweaver

mweaver
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  • More from the Citigroup (C) job cuts: The bank will take a pre-tax charge of $1b in Q4 and about $100M in H1 2013 as a result of the "repositioning." One wonders how that might look to the Fed when the bank submits its 2013 capital return request. (PR[View news story]
    the hits just keep on coming.
    where's john corzine?
    Dec 5, 2012. 11:17 AM | Likes Like |Link to Comment
  • Finding Bank Of America's True Value: Legacy Assets And Legal Risks Continue To Weigh Heavily On Its Market Price [View article]
    the major banks are viewed as
    "cash cows" to be milked via
    litigation. punishment is
    swift,sure, and ongoing.
    latest doj suit against jpm
    indicates more litigation coming.
    Nov 7, 2012. 04:42 AM | 1 Like Like |Link to Comment
  • Fox, CBS, NBC call the presidential race for incumbent Barack Obama after multiple networks call Ohio for the president. Updated: S&P e-Mini futures look priced in: -0.47%; The dollar -0.47% against euro, -0.41% against Swiss franc. Updated 11:38 p.m: AP calls the race for Obama. S&P futures -0.58%; the dollar -0.41% against euro; -0.2% against pound; -0.39% against Swiss franc. [View news story]
    fdr's "second ten bill of rights"
    now fully operational.
    took the left over 70 years to
    get them imbedded in the us,
    but they finally got them.
    Nov 7, 2012. 04:36 AM | Likes Like |Link to Comment
  • A judge lets stand the FHFA's lawsuit against JPMorgan (JPM) accusing the bank of misleading Fannie and Freddie into buying as much as $33B of poorly underwritten mortgages. [View news story]
    the dept of treasury needs the revenue
    Nov 5, 2012. 04:57 PM | Likes Like |Link to Comment
  • Chart Of The Day, Employment Edition [View article]
    adding back "lost" jobs is not the same
    as "creating" additional jobs to increase
    workforce participation. at the current
    run rate of 135-150k per month the us
    labor force doesn't reach the original
    2008-2009 level until 2016
    and, the labor force participation level
    will still be woefully inadequate to generate
    a substantial increase in fed tax revenues
    Nov 4, 2012. 07:36 AM | Likes Like |Link to Comment
  • Weighing The Week Ahead: A 3-Day Homestretch [View article]
    march 2013
    Oct 31, 2012. 06:06 AM | Likes Like |Link to Comment
  • Earnings And Revenue Beat Rates [View article]
    ugly chart
    long term trend
    (q4 03 to q3 12)
    downward bias
    Oct 31, 2012. 04:26 AM | Likes Like |Link to Comment
  • "Asian-Americans are the highest-income, best-educated and fastest-growing racial group in the United States," the Pew Research Center wrote in recent massive study. The WSJ discusses the rise of Asian-Americans in a weekend essay, saying that they "have become the immigrant group that most embodies the American promise of success driven by will and resolve." [View news story]
    opportunity vs guarantee
    the "you owe me" crowd vs the
    "get out of my way, i can do it myself"
    crowd
    Oct 28, 2012. 05:41 AM | 5 Likes Like |Link to Comment
  • More on Q3 GDP: Real personal consumption +2% vs. +1.5% in Q2. Residential fixed investment +14.4% vs. +8.5%. Federal government expenditures +9.6% vs. -0.2%. Real final sales +2.1% vs. +1.7%. Prices +1.5% vs. +0.7%. Quickly rebounding stock index futures are given another boost by the beat, the S&P 500 flat after being down about 1%. [View news story]
    anyone with military background and experience
    knows how the game is played at the end of
    the fiscal year.
    subtract out the "boost" from the dod
    expenditures and your gdp number is
    closer to reality
    Oct 27, 2012. 07:42 AM | Likes Like |Link to Comment
  • State regulators closed Nova Bank in Berwyn, Pennsylvania today, bringing the nationwide tally of bank failures to 47 for the year. Nova had about $483M in total assets and $432.2M in deposits. The FDIC was was appointed as receiver, but was unable to find another bank to take over Nova's banking operations, saying it will mail checks directly to Nova's depositors for the amount of their insured money. The total cost to the FDIC Insurance Fund: $91.2M. [View news story]
    i'm from the government
    i'm here to help
    Oct 27, 2012. 07:39 AM | 1 Like Like |Link to Comment
  • All it took were a few poor earnings reports and a 2.3% slide (repeat, a 2.3% slide) in the S&P since QE∞ was announced for all 21 primary dealers to expect an expansion in the asset purchase program by year's end. Look for the Fed to add Treasurys to the $40B/month of MBS purchases, they say. [View news story]
    2 percent mortgages?
    Oct 22, 2012. 11:11 AM | Likes Like |Link to Comment
  • 50 Shades Of Stock Market Grey [View article]
    s/p up roughly 120 percent since
    mar 09 bottom; about 40 months.
    what's the chance the s/p goes up 120 percent
    in the next 40 months?
    Oct 22, 2012. 05:50 AM | 1 Like Like |Link to Comment
  • Jobless Claims More Than Erase Last Week's Decline [View article]
    the numbers are reported by state and fed
    govt employees. anyone in the private sector
    who thinks these aren't "gamed" is
    whistling past the graveyard.
    Oct 20, 2012. 06:01 AM | Likes Like |Link to Comment
  • The 'fiscal cliff' may be a bigger threat than you think, according to BofA Merrill Lynch. The looming tax increases and spending cuts could lop off as much as 1% from growth next year, and may send the economy into a deeper recession than many have predicted. Meanwhile, investors appear to remain oblivious. In a recent survey of fund managers, BofA found the market bias is for the "risk-on" trade — with the market rising higher — in spite of the political dangers looming. [View news story]
    al (reinvent government) gore said it best.
    "we're not cutting a damn thing".
    Oct 20, 2012. 05:44 AM | 2 Likes Like |Link to Comment
  • Bank Of America - It's Not Spring, But I Hear The Robins [View article]
    ex merrill, what did bac earn? the basic
    bank is very tenuous. countrywide is a
    nightmare on elm street. may have to
    place this piece in bankruptcy. merrill to be
    spun off. litigation and mortgage put backs
    are still at the forefront. bac great franchise
    but this story is still ugly
    Oct 18, 2012. 06:59 AM | Likes Like |Link to Comment
COMMENTS STATS
201 Comments
249 Likes