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pacalvotan

pacalvotan
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  • The Federal Housing Finance Agency files a lawsuit alleging UBS (UBS -3%) violated U.S. securities laws when it sold residential mortgage-backed securities to Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB). The suit and others promised from the Fannie and Freddie regulator seek to recoup losses related to $4.5B in investment securities sold by UBS.  [View news story]
    I think there is a proverb here somewhere. Somthing about the pot and the kettle maybe.
    Jul 27 03:09 PM | Likes Like |Link to Comment
  • Elizabeth Warren will step down Aug. 1 from her role in setting up the Consumer Financial Protection Bureau, but Republican senators say they won't confirm Richard Cordray or any Obama nominee to run the agency unless changes are made. They raise some valid points, Steven Davidoff writes, particularly about subjecting the Bureau to board supervision.  [View news story]
    More regulations on top of more regulations. And the upshot so far is more "deals" that do not benefit anyone except those who are in a position to bribe their way into whatever they want.

    Bitter? No, just realistic.
    Jul 27 01:41 PM | 2 Likes Like |Link to Comment
  • Sheila Bair, former chief of the FDIC, lands a book deal to write about her ultimate insider look at the financial crisis, and her dealings in a male-dominated environment with heavyweights like Paulson, Bernanke and Geithner. Simon & Schuster (CBS -2.4%) will publish Bull by the Horns: What Main Street Must Do To Fix Wall Street in 2012.  [View news story]
    If she knows how to fix it then why the hell didn't she do it.
    Jul 11 01:44 PM | 1 Like Like |Link to Comment
  • Shares of Archer Daniels (ADM +1.3%) receive a lift when Warren Buffett names the firm as the "kind of company we look at" for deals, apparently meeting Berkshire's (BRK.A -1.5%) right mix of low-debt and growing earnings. Also mentioned by the Oracle as attractive was General Dynamic (GD -1.5%) and Exelon (EXC -0.5%).  [View news story]
    Aways remember that the "Oracle" also said that he would not invest in anythisg that was not gvt guaranteed. so much for the oracle.
    Jul 8 02:50 PM | Likes Like |Link to Comment
  • The U.S. debt debacle and the end of QEII has the bond vigilantes predicting the end of the rally , but Capital Economics' John Higgins disagrees. With inflation under control and the Fed on the sidelines through 2012, he sees the 10 year Treasury yield falling to 2.5%.  [View news story]
    This guy Higgins is an idiot. Inflation under control? What planet does he live on? The helicopter Ben planet?
    Jun 3 03:30 PM | 2 Likes Like |Link to Comment
  • The Best and Worst Energy Companies [View article]
    PFE FORMULA CORRECTION

    PFE=LOG(((P*(G/100))/E...
    Mar 1 01:41 PM | Likes Like |Link to Comment
  • The Best and Worst Energy Companies [View article]
    If you want to rely on current earmings the the ubiquirous P/E ratio is it.

    However if you want to predict the future then Price To Future Earnings (seekingalpha.com/symbo...) is the only way to do it.

    PFE=LOG(((P*(G/100))/E...

    P=CURRENT PRICE
    G=ANNUAL EARNINGS GROWTH RATE (OVER 5 OR 6 YEARS)
    E=CURRENT ANNUAL EARNINGS
    Mar 1 01:37 PM | Likes Like |Link to Comment
  • Obama's proposed 2012 budget includes a 28% increase in funding for the SEC, setting up a showdown with Republicans who want to slash the agency's spending. The SEC would be exempt from Obama's proposed freeze on most discretionary spending. Mary Schapiro has maintained that her agency doesn't have enough money to do its job properly.  [View news story]
    The Sec should be audited and forced to adopt a whole new set of regulations. These would be incredibly simple and would be inviolate. Actually there should only be two regulations. "Thou shalt be scrupulously honest" and "Thou shalt always put the interest of the customer above your own" . Now just enforce them with a vengeance, something that the good Mary Shapiro conveniently forgot to do.
    Feb 14 02:48 PM | 3 Likes Like |Link to Comment
  • Simon Johnson's opinion that the US will face a funding crisis is shared by many. A competing view says since the US creates its currency, treasury issuance is not a government finance operation, but simply a tool for influencing the money supply. The US is not reliant on China or anyone else to purchase its debt.  [View news story]
    All of you are missing the point. If we continue to print money what do you think will happen to the price of oil when it is traded in some other currency because the oil producers can no longer trust the$? We will find out the hard way that printing money to keep the imbeciles in Congress in office will not pay the bills. And oil is for the forseeable future the end all of our way of life.
    Dec 23 01:55 PM | 1 Like Like |Link to Comment
  • Bernanke finds a friend: Barney Frank, chairman of the House Financial Services Committee, who says he is "appalled" that Republicans are “joining the central bank of China in attacking Bernanke." The Fed's asset purchase program is “very reasonable" and is not fueling inflation, Frank says.  [View news story]
    I would call up the following by people who were there and done it badly.


    Peter Drucker in the “Age of Discontinuity”:

    “Aid, by its very nature, will flow towards problems rather than towards opportunities. It will go where the needs are greatest rather than where the results are. It will, therefore, tend to create – or, at least, to perpetuate – dependence.”

    John Maynard Keynes,
    The Great Slump of 1930

    “We have involved ourselves in a colossal muddle, having blundered in the control of a delicate machine, the working of which we do not understand. The result is that our possibilities for wealth may run to waste for a time—perhaps for a long time.”

    Liaquat Ahamed, "Lords of Finance: The Bankers Who Broke the World" quotes Sir Montagu Norman; Governor of the Bank of England about the Great Depression.

    "We achieved absolutely nothing, except that we collected a lot of money from a lot of poor devils and gave it to the four winds."


    I can only add a huge "AMEN"
    Nov 22 02:40 PM | 1 Like Like |Link to Comment
  • Ralph Acampora doesn't think we're seeing a market top; in fact, he says the Dow may climb to 13,000 by next June, citing excessive pessimism on the economy. “We’ve seen the worst, we had the earthquake,” he says of the last two years. “What we’re experiencing now are the aftershocks.”  [View news story]
    Ralph has been around a long time and should be listened to . Doesn't mean he is right. Everyone should go to Agora Financial and sign up for their 5 Minute Frcast. It is free. Today they redraw their Alt-A and Option ARM chart. That shouldscare you to death as they are forecasting the resets are coming again with more people out of work and their housesare worth even less plus the banks are appparently not lending. Now that is a wall of worry.
    Sep 16 03:00 PM | 1 Like Like |Link to Comment
  • Shares of several oilfield services firms, including Superior Energy (SPN +9.5%), Hercules Offshore (HERO +7%) and Tetra Technologies (TTI +14.4%), jump after the Interior Department announces that oil and natural gas producers must plug 3,500 oil wells in the Gulf of Mexico that have sat idle for five years or more.  [View news story]
    SPN and TTI will probably come in first to cement and then probably MDR will come in and remove any structure and salvage/dispose. I think this is about right.
    Sep 16 02:18 PM | Likes Like |Link to Comment
  • TARP was a failure that amounted to institutionalized fraud, Marshall Auerback writes, "not shaped by finance or sound economics, but by politics." TARP money was repaid "largely as an outgrowth of the accounting tricks sanctioned by Congress and the White House in the wake of the 2008 financial crisis," he says.  [View news story]
    TARP was nickel and dime compared to the rest of the bailout. The two Fs bought up, and of course guaranteed, no one knows how many billion/trillions of underwater mortgages. Who got that money and how much more are we on the hook for? No one knows because even the Congress could not get the FED to cough up numbers. So who is really running the country?

    If you get a chance read J. Grayson Lilburne's article "How Far Will We Fall?" in the Von Mises Institute the Free Market.
    Sep 15 03:16 PM | Likes Like |Link to Comment
  • "I am a huge bull on this country," Warren Buffett says in ruling out a second recession. Businesses owned by Berkshire Hathaway (BRK.A) are growing and "coming back almost across the board."  [View news story]
    Just remember that this is the same clown that said he would not invest in anything that did not have a gvt guarantee.
    Sep 13 12:33 PM | 1 Like Like |Link to Comment
  • Along with its "funds of funds" probe, the SEC is looking into Lehman Brothers' "Repo 105" deceptions - though none too quickly, as it's been months since Anton Valukas' devastating Lehman report, and now two years since Lehman went under.  [View news story]
    Now you know why it took Shapiro 10 years to get Maddoff even after one of the hedge fund mgrs told them exactly what he was doing.
    Sep 10 03:49 PM | 1 Like Like |Link to Comment
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