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lcmucci

lcmucci
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  • Bank of America Corp's (BAC) CEO Brian Moynihan at Sanford C Bernstein Strategic Decisions Conference -Transcript [View article]
    We need someone to clarify what Brian just said, an interpreter. Overunder said he read it twice to understand what Mr Moynihan said. I'll bet he could rewrite what Brian said so we could all understand it without scratching our heads. Brian is not relaxed when speaking in public and tends to jumble his sentences.
    May 30 12:49 PM | Likes Like |Link to Comment
  • BofA probed over trading practices [View news story]
    Why is that so Eric, do big banks have a monopoly? Aren't all banks doing the same thing?
    Mortgages, loans, selling savings certificates, checking, credit cards, etc. The larger banks have advantages in scope, they can reach farther then their smaller brethren and add more services. Not everyone needs the extra services of large banks, I don't, but if I traveled I would like to know I could find a branch of my bank if needed. While we're on the subject, do you have any objections to large corporations? Or large government payrolls?
    Jan 27 10:33 AM | Likes Like |Link to Comment
  • BofA probed over trading practices [View news story]
    The government lawyers don't want to trip over each other so they wait for a lull to get there turn to keep the pressure on the banks.
    Jan 27 08:53 AM | Likes Like |Link to Comment
  • It's the aluminum owners - not the warehouse operators - who control the disposition and location of metal stored in or outside the LME-approved warehouse system, says Goldman Sachs (GS), responding to charges it and other warehouse owners (JPM, MS) illicitly drove up the price of aluminum. [View news story]
    Does this have anything to do with the price of fuel oil and gasoline? It bugs me, why the price of fuel oil does not follow the crude oil price when it goes down, but it's used as an excuse to raise the price when crude oil goes up. Any hiccup in the news is cause for an immediate price jump. This is gasoline and fuel oil stored in depots around the country, not new oil and gas. My lumber yard and gas station owners used to do this when they called in every morning to there suppliers to get new prices and then raised the prices of their existing stock.
    Jul 23 04:08 PM | Likes Like |Link to Comment
  • Bank of America (BAC +1.3%) calls "impossible" claims made by former employees the bank awarded bonuses to those who helped block homeowners seeking assistance. "(They) could not have witnessed what they claim to have witnessed because they were not in a position to do so and would not have witnessed such things in any event because BofA's actual practices were diametrically opposite." The argument was made in court papers as the bank seeks to block efforts to attain class-action status. [View news story]
    I was hoping to see a MexCom comment on this issue. If there is an ounce of truth to any of these accusations and they can be proven, then they can also be pinpointed as to which local office they came from, and the manager in charge. Mismanagement can be dealt with as contrary to company policy. I can't believe Moynihan would have allowed this, and Chancer's concern about a delay in answering could be due to an internal investigation to verify any of these claims.
    Jul 12 06:16 PM | 1 Like Like |Link to Comment
  • 2 Near-Term Catalysts To Consider Ahead Of Bank Of America's Earnings [View article]
    Benitus, yes nothing new, but we all seem to be groping in the dark with what little we really know. I liked it, short and sweet, with no unreadable charts.
    Apr 8 09:46 AM | 1 Like Like |Link to Comment
  • The 'Too Big To Jail' Red Herring: The Jamie Dimon Edition [View article]
    Didn't our lawmakers weaken the regulations and safeguards that were imposed to help prevent bank failures? And expected banks to police themselves? The same bunch suggested solving social security financing by letting us withdraw our vested money and invest it ourselves in the stock market. JAK is right, fix the problem and not only will the large banks be safer but the neighborhood ones too.
    Mar 19 11:17 AM | Likes Like |Link to Comment
  • Bank Of America Hits A Home Run [View article]
    Josh, look at insider trading of BAC board of directors for february. Every member sold tens to hundreds of thousands of shares and bought them back for zip. What's going on? They pay nothing and can sell them back again? Is this how they are paid?
    Mar 16 11:46 AM | Likes Like |Link to Comment
  • Bank Of America Hits A Home Run [View article]
    Agree, Just retiring 450 million shares saves the bank $4,500,000 in penny div's
    Mar 15 06:35 PM | Likes Like |Link to Comment
  • Bank Of America: Buy Now Before Dividend Increases [View article]
    Sorry, change that to 3 1/2 times that of City.
    Mar 8 10:25 AM | Likes Like |Link to Comment
  • Bank Of America: Buy Now Before Dividend Increases [View article]
    I'm afraid Gekko is right, It makes the most sense. Each of the four big banks have relatively the same amount of employees, But BAC has double the outstanding shares of WFC, three times JPM, and four and a half times that of City.
    Mar 7 06:32 PM | 1 Like Like |Link to Comment
  • MBIA (MBI) gains 6.7% after Judge Rakoff issues what may be a precedent-setting ruling in Assured Guaranty vs. Flagstar. The ruling - says a lawyer - puts to rest the main argument MBS originators like BofA and JPMorgan have put forth to counter insurers' claims their breaches of representations and warranties did not cause losses. BAC and JPM both down about 1% premarket. [View news story]
    Mexcom

    The banks lawyer's should read your column, maybe the judge too.
    Feb 6 10:20 AM | Likes Like |Link to Comment
  • Dallas Fed President Richard Fisher yesterday called for the break up of a dozen too-big-to-fail banks, each with assets of over $250B. While Fisher didn't name all 12, he showed a presentation slide with a list of the top five banks: JPMorgan (JPM), Bank of America (BAC), Goldman Sachs (GS), Citigroup (C) and Morgan Stanley (MS). Fisher believes his position is receiving rising support in the Fed and Congress. [View news story]
    How do you break up a bank? I guess Fisher is not a fixer upper, is his leg to stand on, the Whale episode? The banking industry today is not the same as the one before the crash. The rules are back in place and the industry is a lot safer now. The Whale incident left Jamie with a black eye. He's been taken down a few notches and he's watching over his shoulder now. I can understand his over confidence since he had seamlessly inter grated bankrupt WaMu with chase, It was a perfect fit. Who else could have done this better, the government? In a not so confident economy Chase was doing better then ever, raising dividends, buying back shares, a showcase leader in the banking world. Should we destroy this financial American asset or protect it with rules to live by and prosper.
    Jan 17 02:10 PM | Likes Like |Link to Comment
  • Bank Of America: Why A Stock Buyback Is More Likely Than A Dividend Raise [View article]
    The thirteenth mission to the moon was the scariest, but with the engineers and the backups we made it back safe. Did anyone notice that Countrywide was the thirteenth BAC acquisition?
    Jan 14 03:13 AM | Likes Like |Link to Comment
  • To little surprise, a bankruptcy judge has signed off on the $525M sale of Eastman Kodak's (EKDKQ.PK -2.4%) patent portfolio to a consortium managed by RPX (RPXC) and Intellectual Ventures, and featuring a who's who of tech giants. The approval clears the way for Kodak to obtain $830M in financing and come out of Chapter 11 in 1H13. Earlier this week, Kodak, which plans to focus on business solutions going forward, announced a deal with private JK Imaging in which JK will sell cameras under the Kodak brand. [View news story]
    Anyone trust this guy running Kodak?
    Jan 13 03:45 PM | 1 Like Like |Link to Comment
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