Colin Lokey's Comments Colin Lokey's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.com/user/984857/comments Former employees allege Bank of America (BAC) gave out cash bonuses and gift cards as rewards for denying loan applications and illegitimately modifying customers' files in order to make them "ineligible for loan modification," Bloomberg says. One "loss-mitigation specialist" claims staff were "regularly drilled … to maximize fees … by extending delay of the Home Affordable Modification Program process" by any available means. "At best, these attorneys are painting a false picture of the bank’s practices," a BAC spokesperson says dryly. http://seekingalpha.com/currents/post/1086482?source=feed#comment-20012792 20012792 Sat, 15 Jun 2013 10:04:07 -0400 Some details for Covidien's (COV) pharmaceuticals business spin-off (previous): Shareholders will receive one share of the new publicly traded company (Mallinckrodt) for every eight shares of COV they own. Mallinckrodt is expected to begin trading on the NYSE on July 1 (ticker: MNK). (PR) http://seekingalpha.com/currents/post/1045291?source=feed#comment-19219441 19219441 Fri, 24 May 2013 15:29:06 -0400 Bernanke And The U.S. Taxpayer: Europe's Unsung Heroes http://seekingalpha.com/article/1261961/comments?source=feed#comment-16157831 16157831 Mon, 11 Mar 2013 21:19:24 -0400 Bernanke And The U.S. Taxpayer: Europe's Unsung Heroes http://seekingalpha.com/article/1261961/comments?source=feed#comment-16157731 16157731 Mon, 11 Mar 2013 21:16:49 -0400 Kabuki Theater: Analyzing Bernanke's Senate Testimony http://seekingalpha.com/article/1230201/comments?source=feed#comment-15984171 15984171 Thu, 07 Mar 2013 12:01:17 -0500 Kabuki Theater: Analyzing Bernanke's Senate Testimony http://seekingalpha.com/article/1230201/comments?source=feed#comment-15978561 15978561 Thu, 07 Mar 2013 10:40:49 -0500 The Bear Who Cried Wolf: Everything Is Fine Until It Isn't http://seekingalpha.com/article/1223441/comments?source=feed#comment-15540621 15540621 http://bit.ly/Tdf2Cx]]> Tue, 26 Feb 2013 15:41:07 -0500 http://bit.ly/Tdf2Cx]]> The Bear Who Cried Wolf: Everything Is Fine Until It Isn't http://seekingalpha.com/article/1223441/comments?source=feed#comment-15525761 15525761 Tue, 26 Feb 2013 11:06:17 -0500 Heinz Acquisition Marred By Allegations Of Insider Trading http://seekingalpha.com/article/1189851/comments?source=feed#comment-15505551 15505551 Mon, 25 Feb 2013 23:05:33 -0500 How the Fed Could Fix The Economy -- And Why It Hasn't http://seekingalpha.com/article/1220301/comments?source=feed#comment-15474351 15474351 Mon, 25 Feb 2013 10:35:56 -0500 Treasury Shorts, Negative Repo Rates, And The Poor Money Market Funds http://seekingalpha.com/article/1210261/comments?source=feed#comment-15342461 15342461 Thu, 21 Feb 2013 19:41:07 -0500 Treasury Shorts, Negative Repo Rates, And The Poor Money Market Funds http://seekingalpha.com/article/1210261/comments?source=feed#comment-15335911 15335911 Thu, 21 Feb 2013 17:07:33 -0500 Treasury Shorts, Negative Repo Rates, And The Poor Money Market Funds http://seekingalpha.com/article/1210261/comments?source=feed#comment-15306101 15306101 Thu, 21 Feb 2013 09:16:15 -0500 Why Hyperinflation Is No Myth: The Shadow Banking Component http://seekingalpha.com/article/1177051/comments?source=feed#comment-14938201 14938201 Wed, 13 Feb 2013 12:23:08 -0500 Why Hyperinflation Is No Myth: The Shadow Banking Component http://seekingalpha.com/article/1177051/comments?source=feed#comment-14933871 14933871 http://bit.ly/12yGyZL]]> Wed, 13 Feb 2013 11:06:33 -0500 http://bit.ly/12yGyZL]]> InterOil: Asset Sell-Down Or 100% Takeover? http://seekingalpha.com/article/1174841/comments?source=feed#comment-14933681 14933681 Wed, 13 Feb 2013 11:01:58 -0500 Why Hyperinflation Is No Myth: The Shadow Banking Component http://seekingalpha.com/article/1177051/comments?source=feed#comment-14930101 14930101 Wed, 13 Feb 2013 09:47:00 -0500 InterOil: Asset Sell-Down Or 100% Takeover? http://seekingalpha.com/article/1174841/comments?source=feed#comment-14903581 14903581 Tue, 12 Feb 2013 16:36:36 -0500 InterOil: Asset Sell-Down Or 100% Takeover? http://seekingalpha.com/article/1174841/comments?source=feed#comment-14903541 14903541 Tue, 12 Feb 2013 16:34:46 -0500 InterOil: Asset Sell-Down Or 100% Takeover? http://seekingalpha.com/article/1174841/comments?source=feed#comment-14896951 14896951 http://bit.ly/VRdWgN]]> Tue, 12 Feb 2013 14:27:50 -0500 http://bit.ly/VRdWgN]]> Alchemy, Systemic Risk, And A Trip Down The Shadow Banking Rabbit Hole http://seekingalpha.com/article/1174251/comments?source=feed#comment-14894661 14894661
The Fed is printing.

"Another point that I need to connect the dots on as well - this shadow contraction suggests an exit from bonds and/or stocks by banks to some degree which suggests these banks are seeing unacceptable risks in these assets."

Well, unless they use their new fungible Bernanke bucks to purchase high quality assets like Treasuries which they can then fund in repo and come out smelling like a rose with cash in hand (which they use to bid up risk assets) and Treasuries still on the books. As long as the pledged assets aren't repledged, the collateral multiplier can still contract while risk assets are bid up.]]> Tue, 12 Feb 2013 13:45:42 -0500
The Fed is printing.

"Another point that I need to connect the dots on as well - this shadow contraction suggests an exit from bonds and/or stocks by banks to some degree which suggests these banks are seeing unacceptable risks in these assets."

Well, unless they use their new fungible Bernanke bucks to purchase high quality assets like Treasuries which they can then fund in repo and come out smelling like a rose with cash in hand (which they use to bid up risk assets) and Treasuries still on the books. As long as the pledged assets aren't repledged, the collateral multiplier can still contract while risk assets are bid up.]]> Why Hyperinflation Is A Myth (And What It Means For Gold Prices) http://seekingalpha.com/article/1174331/comments?source=feed#comment-14884001 14884001 Tue, 12 Feb 2013 10:32:54 -0500 Alchemy, Systemic Risk, And A Trip Down The Shadow Banking Rabbit Hole http://seekingalpha.com/article/1174251/comments?source=feed#comment-14883381 14883381 Ok so here, in short, is how this works: the shadow banking system is depositless as it were. It is self contained and despite all the shadow credit creation, there is no actual cash that can spill over into the "real world." So the more credit that is created without deposits, the more of an inflation buffer exists. However, now that the shadow baking credit creation machine is contracting, it is being gradually replaced by excess reserves and real deposits which of course are real money which can spill out into the economy. So, you have a shift away from inflation-resistant shadow banking credit creation and towards inflation-prone M2-fueled credit creation. If banks finally start making loans, this will be an inflationary nightmare. ]]> Tue, 12 Feb 2013 10:21:08 -0500 Ok so here, in short, is how this works: the shadow banking system is depositless as it were. It is self contained and despite all the shadow credit creation, there is no actual cash that can spill over into the "real world." So the more credit that is created without deposits, the more of an inflation buffer exists. However, now that the shadow baking credit creation machine is contracting, it is being gradually replaced by excess reserves and real deposits which of course are real money which can spill out into the economy. So, you have a shift away from inflation-resistant shadow banking credit creation and towards inflation-prone M2-fueled credit creation. If banks finally start making loans, this will be an inflationary nightmare. ]]> Why Hyperinflation Is A Myth (And What It Means For Gold Prices) http://seekingalpha.com/article/1174331/comments?source=feed#comment-14882591 14882591 Tue, 12 Feb 2013 10:06:32 -0500 Why Hyperinflation Is A Myth (And What It Means For Gold Prices) http://seekingalpha.com/article/1174331/comments?source=feed#comment-14882511 14882511 http://seekingalpha.co...]]> Tue, 12 Feb 2013 10:04:52 -0500 http://seekingalpha.co...]]> Dow 14,000: Are You The Sucker? http://seekingalpha.com/article/1159311/comments?source=feed#comment-14668541 14668541 Wed, 06 Feb 2013 18:22:35 -0500 Dow 14,000: Are You The Sucker? http://seekingalpha.com/article/1159311/comments?source=feed#comment-14652221 14652221 http://bit.ly/XVM4lN
That shows revisions versus pre-revision non-farm payrolls. There is no guarantee that revisions will be positive. Thanks as always for reading and taking the time to comment.]]> Wed, 06 Feb 2013 12:20:05 -0500 http://bit.ly/XVM4lN
That shows revisions versus pre-revision non-farm payrolls. There is no guarantee that revisions will be positive. Thanks as always for reading and taking the time to comment.]]> Dow 14,000: Are You The Sucker? http://seekingalpha.com/article/1159311/comments?source=feed#comment-14651161 14651161
"Let's not forget that the 157k headline print was below consensus and 22% lower than the 201k average of the prior three months. That's the problem with upside revisions — they go on to exaggerate the slowdown."

You should really let him know what you know about how economic reports are put together that he and I seem to be missing. He'd probably be quite interested given that he was the chief economist for Merrill Lynch for the better part of a decade and was ranked the most accurate forecaster for 2011 by MSNBC.]]> Wed, 06 Feb 2013 12:05:30 -0500
"Let's not forget that the 157k headline print was below consensus and 22% lower than the 201k average of the prior three months. That's the problem with upside revisions — they go on to exaggerate the slowdown."

You should really let him know what you know about how economic reports are put together that he and I seem to be missing. He'd probably be quite interested given that he was the chief economist for Merrill Lynch for the better part of a decade and was ranked the most accurate forecaster for 2011 by MSNBC.]]> Dow 14,000: Are You The Sucker? http://seekingalpha.com/article/1159311/comments?source=feed#comment-14647321 14647321
You should check that data point for the fourth quarter.]]> Wed, 06 Feb 2013 10:51:59 -0500
You should check that data point for the fourth quarter.]]> Reality Bites: Economy Begins To Shrink As Fed Goes Broke http://seekingalpha.com/article/1145711/comments?source=feed#comment-14414061 14414061 Thu, 31 Jan 2013 14:08:33 -0500