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bankingqueen

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  • Bank of American wins dismissal from a lawsuit brought by investors who purchased MBS from Countrywide. A U.S. District Judge agrees with BoA's argument that Countrywide is a separate wholly owned subsidiary whose actions cannot project liability on the parent.  [View news story]
    Tom,

    While agree with you in principle, tell that to the investors who loss thier ass in the MBS scam from countrywide. I am all for businesses making a profit but this is this type of crony capitalism that gives real businesses a bad name. And has unfortunately made the word or idea of turning a profit a bad thing. Most of our companies do it the right way, but screwing your own clients at your benefit should not be one of the ways to profit (just my opinion).
    Apr 23, 2011. 11:29 AM | 5 Likes Like |Link to Comment
  • Bank of American wins dismissal from a lawsuit brought by investors who purchased MBS from Countrywide. A U.S. District Judge agrees with BoA's argument that Countrywide is a separate wholly owned subsidiary whose actions cannot project liability on the parent.  [View news story]
    The U.S District Judge is an Obama shill. I remember many cases of aspestos where a larger company would acquire a smaller one without knowledge of the liability at the time. Years later when the aspestos lawsuites came out they got every large company and most of thier exposure was from subsidiaries they had acquired. If this was precedent what would stop a company like BP to just sell themselves to say Exxon to prevent the lawsuits? They could use the argument that Bp now a seperate wholly owned subsidiary cannot project liability on the parent (Exxon). This country has lost its moral compass.
    Apr 23, 2011. 09:50 AM | 6 Likes Like |Link to Comment
  • After his pompous declaration that there's "no risk" the U.S. will lose its AAA credit rating and other statements, Geithner has downgraded his own credibility to "junk," Jonathan Weil writes. "The problem for leaders who make indefensible claims like this one is that, after a while, nobody knows whether to believe anything they say."  [View news story]
    MMM, "after a while, nobody knows whether to believe anything they say."
    Anybody that even for a minute embraces what these shills and hacks say might even be remotley true is just sick. Honestly this country is doomed if these creeps are the best our country has to lead it. And when was Geithner even considered even somewhat credible? Not in my lifetime that is for sure. Honestly the American people deserve better than this, WAKE UP PEOPLE!!!
    Apr 21, 2011. 09:00 PM | 9 Likes Like |Link to Comment
  • Lee Farkas is convicted on all of 14 counts in a $2.9B fraud case. Farkas was the chairman and majority owner of former mortgage giant Taylor Bean & Whitaker. His actions led to its collapse along with that of Colonial Bank's. He could now get life. (previous)  [View news story]
    Yet, the crook Angelo Mozilo walks away squeaky clean. Mazilo must have paid of the right people.
    Apr 20, 2011. 08:44 AM | Likes Like |Link to Comment
  • The Alabama-based law firm that sought to force Taco Bell (YUM +0.4%) to stop calling the meat it serves "beef" says it has withdrawn its class action lawsuit. Shares are up, but more likely from a Morgan Stanley report that finds Yum Brands and some other restaurants appetizing investments.  [View news story]
    No, that would make too much sense. Another form of wealth distribution, prob into the pockets of some politicans that have sold this country into an abyss.
    Apr 19, 2011. 10:56 AM | Likes Like |Link to Comment
  • The Alabama-based law firm that sought to force Taco Bell (YUM +0.4%) to stop calling the meat it serves "beef" says it has withdrawn its class action lawsuit. Shares are up, but more likely from a Morgan Stanley report that finds Yum Brands and some other restaurants appetizing investments.  [View news story]
    Can anyone say tort reform?
    Apr 19, 2011. 10:47 AM | 2 Likes Like |Link to Comment
  • Geithner tells Fox Business News there is "no risk" that the U.S. would lose its AAA credit rating, saying political prospects for long-term deficit reduction were improving. "If you listen carefully now, I think the prospects for a bipartisan agreement are better than they have been in a long time."  [View news story]
    Geithner gets my nod for worst treasury secretary of all time. For once in tax cheat timmy's life he can be honest with Americans regarding the future of this country and he chooses to ignore any possible outcome that does not fit his keepers desires. Mark my words there will be no I repeat no deficit reduction period. Next stop 20 Trillion. Thanks timmy for having a sack.
    Apr 19, 2011. 10:37 AM | 6 Likes Like |Link to Comment
  • One down day for stocks, and the word is already out that the Fed might continue with QE Lite. Recent remarks by Yellen and Dudley that the economy and inflation are too weak to begin a reversal of monetary policy are interpreted as a signal that the Fed will keep its balance sheet at current levels by replacing ~$17B/month in maturing mortgage debt with Treasurys.  [View news story]
    Bernanke like the crack to much to give it up.
    Apr 19, 2011. 08:56 AM | 4 Likes Like |Link to Comment
  • The CEO of Gulf Oil joins Goldman in calling the top for crude, saying the price will fall below $100/barrel by July 4. "We're starting to see (less demand) at all our 3.5K locations," says Joe Petrowski, believing a peak is coming within a month "if we haven't seen it already."  [View news story]
    Is this the same GS that just upgraded AONE? What a joke Blankfein and Co. think they can fool all ot the people all of the time.
    Apr 18, 2011. 09:42 PM | 1 Like Like |Link to Comment
  • Today's debt crisis news brought the perspective of the big picture, Buttonwood writes: "Daily headlines are almost irrelevant unless they bring us closer to discovering how the debt pile of the developed world will be eliminated in each country - by growth, inflation or default."  [View news story]
    Untill an honest attempt to grow the economy is attained nothing else matters. We should be encouraging business growth not hindering it.
    Apr 18, 2011. 07:09 PM | 1 Like Like |Link to Comment
  • Plenty of economists agree with Paul Krugman that today’s S&P downgrade is “no big deal,” citing Japanese long-term interest rates that stayed low even after the country was downgraded in 2002. Show of hands: How many people want the fate of the U.S. over the next nine years to approach the fate of Japan over the previous nine years?  [View news story]
    Krugman, is irrelevant and usually wrong. Do the opposite and you will be winning!
    Apr 18, 2011. 07:00 PM | 19 Likes Like |Link to Comment
  • Some economists say investors might come to see the S&P warning in a positive light if it prods Congress to focus on delivering real deficit reduction. But as Democrats and Republicans both claim the S&P decision validates their respective policies, compromise might actually become more difficult.  [View news story]
    Both sides are bought and paid for by lobbyists and wallstreet goons. They have no real interests in reducing the deficit, only serving thier keepers. Someone needs to tell them they work for us, not the other way around.
    Apr 18, 2011. 06:57 PM | 11 Likes Like |Link to Comment
  • Goldman sees 63% upside for A123 Systems (AONE +6.3%), boosting shares to Buy with a "better than 2:1 risk/reward" for its outlook. Near-term catalysts include early Fisker sales, a possible major OEM partner, a new CFO, and a possible DOE loan - though firm admits visibility remains 2-6 months out.  [View news story]
    And watch your money vanish, GS may have some unhappy clients in the future.
    Apr 18, 2011. 08:54 AM | 1 Like Like |Link to Comment
COMMENTS STATS
135 Comments
359 Likes