Financial Crisis

[midas]

Financial crisis? What financial crisis?

My Bank of America stock has increased 15% in less than a week. Good on ya Warren.

Let's see ... Go with Thai Visa Pundits or Warren Buffet.

I am going to risk it and go with WB.

I wonder if you have the same deal as WB?

Under the terms of the deal, Berkshire will buy $5 billion of preferred stock that pay a 6 percent annual dividend, and receive warrants for 700 million shares that it can exercise over the next 10 years. Bank of America has the option to buy back the preferred shares at any time for a 5 percent premium

If not, then you will lose everything before WB is down a single cent.

BANK OF AMERICA: If Things Really Go To Hell, We'll Sort Of Spin Off Some Of Merrill Lynch

http://www.businessinsider.com/bank-of-america-merrill-lynch-tracking-stock-2011-9

[flying]

Financial crisis? What financial crisis?

My Bank of America stock has increased 15% in less than a week. Good on ya Warren.

Let's see ... Go with Thai Visa Pundits or Warren Buffet.

I am going to risk it and go with WB.

How is BAC doing today?

Looks like down 7.5% & looking at possible law suits across the sector

Edited September 2, 2011 by flying

[ronz28]

17 Banks and their employees sued to recover government losses on loans they sold to Fannie Mae, etc.

http://www.fhfa.gov/webfiles/22599/PLSLitigation_final_090211.pdf

Goldman Sachs is one of those sued.

http://www.fhfa.gov/webfiles/22589/FHFA%20v%20Goldman%20Sachs.pdf

Their bankers may not be feeling so smug today as they were when responding to Senator Levin last year on these matters.

http://www.youtube.com/watch?v=gLx2Xc1EXLg&feature=youtu.be

[flying]

17 Banks and their employees sued to recover government losses on loans they sold to Fannie Mae, etc.

While I am glad to see it happen...I must admit it is an odd situation.

First the government gives them billions in bailouts claiming the banks are under funded & at risk.

Basically because of what they brought on themselves.

Now the Govt. will hopefully relieve/sue them billions for what they did.

Any guess as to what will need to come next?

Bank Of America down 8.34% already today on the news.

Edited September 2, 2011 by flying

[12DrinkMore]

So, what are you up to?

Maybe your lifestyle is not so different to Gates, Buffet or Naam?

As a weekend break from all the Euro-Doom, here is an interesting perspective on life and whether immense numbers in your bank accounts really makes a huge difference.

http://rick.bookstaber.com/2010/04/accidental-egalitarian.html

http://rick.bookstaber.com/2010/10/i-just-finished-reading-robert-reichs.html

[midas]

Will Greece sit by and do anything that it is told to do?

[Naam]

Will Greece sit by and do anything that it is told to do?

most probably not. anyway... by now it looks like nobody can stop the greek ship sinking. and once it really sinks we can expect global implications compared to which Lehman 2008 might look like a birthday party for a four year old child

for those who served the order will sound: "helmets off, kneel down for prayers!"

[midas]

Will Greece sit by and do anything that it is told to do?

most probably not. anyway... by now it looks like nobody can stop the greek ship sinking. and once it really sinks we can expect global implications compared to which Lehman 2008 might look like a birthday party for a four year old child

for those who served the order will sound: "helmets off, kneel down for prayers!"

i am already practising to try to say " Allahu Akbar " convincingly

Edited September 5, 2011 by midas

[Naam]

food for thoughts:

[churchill]

and Are those funds in USD safe ?

I think fund managers should start looking towards S/E asia ---- property ?

Baht going up !!

[Naam]

and Are those funds in USD safe ?

I think fund managers should start looking towards S/E asia ---- property ?

Baht going up !!

these funds are cash from banks Churchill, not from funds. cash that does not belong to the banks but to their clients. no way to buy with them asian property.

[12DrinkMore]

and Are those funds in USD safe ?

I think fund managers should start looking towards S/E asia ---- property ?

Baht going up !!

Blimey, why did you ask that?

Nothing safer than putting your USD's under the direct care of the Bernank.

He will give you a USD back for every USD you give him. No probs whatsoever. The Bernank is the SOURCE.

Edited September 5, 2011 by 12DrinkMore

[midas]

Financial crisis? What financial crisis?

My Bank of America stock has increased 15% in less than a week. Good on ya Warren.

Let's see ... Go with Thai Visa Pundits or Warren Buffet.

I am going to risk it and go with WB.

I wouldn't even have an account in a bank like B of A let alone have equity in them?

The hits to their so-called reputation just keep coming

Bank of America 'called grieving widow 48 times a day to remind her of husband's debt'

" Mrs Crabtree said she and her family spent her husband's wake repeatedly hanging up the phone on calls from the bank."

http://www.dailymail.co.uk/news/article-2033465/Bank-America-called-grieving-widow-48-times-day-remind-husbands-debt.html#ixzz1X0oJY8rT

[Robby nz]

Amuses me to see the crowd at US stock exchange all stsnding clapping after they have had their worst days ever.

Still I suppose they get their pay and profit no matter which way the market goes.

[flying]

Financial crisis? What financial crisis?

My Bank of America stock has increased 15% in less than a week. Good on ya Warren.

Let's see ... Go with Thai Visa Pundits or Warren Buffet.

I am going to risk it and go with WB.

I wouldn't even have an account in a bank like B of A let alone have equity in them?

The hits to their so-called reputation just keep coming

Actually it looks like the Government is going to sue Bank Of America along with Goldman Sachs &

a few others.

Bank Of America stock dropped 8.34% Friday alone

I don't think it will do better tomorrow

[BlackJack]

all aboard

Titanic leaving soon

toot toot

[midas]

Will Greece sit by and do anything that it is told to do?

most probably not. anyway... by now it looks like nobody can stop the greek ship sinking. and once it really sinks we can expect global implications compared to which Lehman 2008 might look like a birthday party for a four year old child

for those who served the order will sound: "helmets off, kneel down for prayers!"

i am already practising to try to say " Allahu Akbar " convincingly

they'd better not dare

Home Front Command warns of looming multi-front war

“After the ‘Arab Spring’, we assess that a winter of radical Islam will arrive and as a result the possibility for a multi-front war has increased including the potential use of weapons of mass destruction,” Eisenberg said during a conference on the Home Front at the Institute for National Security Studies in Tel Aviv.

http://www.jpost.com/Defense/Article.aspx?id=236789

[midas]

so much for the Bank of England's role as the new financial regulator

The 100% mortgage is back … if your relatives will lend a hand

http://www.guardian.co.uk/money/2011/sep/05/100-per-cent-mortgage-aldermore

[12DrinkMore]

so much for the Bank of England's role as the new financial regulator

The 100% mortgage is back … if your relatives will lend a hand

http://www.guardian....tgage-aldermore

Obviously the banks can scent just a few more suckers who haven't bought in to the Great UK House Price and put themselves in a lifetime debt program. Taking out the stupid relatives too.

I thought this was BAD when I ranted off and started this thread. And then I thought things could not get worse and surely the leaders would fix it.

Now it looks a lot worse. Really it looks absolutely terrible.

I wonder how my grandparents felt as they went into the late 1930's? Possibly the same as I feel today.

War? No way, this is not going to happen. Well it happened.

Penury? Soup kitchens. Coming your way in the UK soon. 50 million on food cards in the US already.

So what next for the Western Financial Crisis?

Why Western? Because the Asians, I believe, are looking pretty dam_n good in all this mess.

Edited September 6, 2011 by 12DrinkMore

[ronz28]

VP for Citibank embezzling found guilty of bank fraud by taking $22 million from various bank accounts from 2003 to 2010. Took a long time before they noticed. http://www.cnbc.com/id/44411593?utm_source=twitterfeed&utm_medium=twitter

[flying]

another institution to bite the dust?

The postal service has actually been losing billions a year for many years now so it should come as no surprise.

But it does show how poorly the government does at business.

I dont think they have a snowballs chance in he11 of making the 5.5 billion dollar payment due Sept 30th

White House to Propose Plan to Help Postal Service

Not too worry though...The anointed one Zobama will speak later this week with his new plan for jobs that he will give to Congress & expect them to act on.

We saw a trial run of it on TV here in the US when he addressed Detroit...hahaha Detroit?

Basically his plan is this.....He said hey we have millions of folks out of work & millions of them are construction workers waiting to get their hands dirty.

We need road & bridges so I say lets do it !!!

I had to laugh as we know where it will go in Congress after the recent debt ceiling talks.

This *plan* of Zobama's is like me telling the wife....

"Hey honey....Look at all the new cars that are just sitting there....Lets go buy them

& also hey look at all the empty new homes honey not to mention all the foreclosed one...

Lets go buy them eh? I mean they are just sitting there...What's to stop us?"

Wife says.......Money!

DOH...even she is smarter than the anointed one.

[Wrong Turn]

flying:

another institution to bite the dust?

The postal service has actually been losing billions a year for many years now so it should come as no surprise.

But it does show how poorly the government does at business.

Yes, flying the USPS has been in serious decline for a solid 5 years, and this year will lose $9 billion. That's a BIG loss.

The silliness is, for layoffs to happen, Congress has to change the rules and approve it - this means, it will likely only happen after the elections in 14 months, IMO.

[flying]

Hard to believe....Or Not?

Here We Go Again: US To Breach "Transitory" Debt Ceiling On Monday

[Wrong Turn]

Yup, flying.

And the debt ceiling issue will return conveniently after the next election in 14 months.

And Mr. BO unveiled the $400+ billion package last night. He doesn't get it, when it comes to economics, IMO.

QE1 and QE2 did not work, so now....this.

The US is in a Liquidity Trap and has reached "Keynesian Endpoint."

[12DrinkMore]

Challenge on.

Here's the question.

Who is Britain's biggest industrial employer? Come on, think up a few names........

tick tick tick.......

Here's a clue, starts with the letter 'T'....

tick tick tick........

Here's another clue, it ain't British.....

tick tick tick........

.......Tata

http://www.economist.com/node/...

[flying]

Yup, flying.

And the debt ceiling issue will return conveniently after the next election in 14 months.

And Mr. BO unveiled the $400+ billion package last night. He doesn't get it, when it comes to economics, IMO.

QE1 and QE2 did not work, so now....this.

The US is in a Liquidity Trap and has reached "Keynesian Endpoint."

Yes WT I had to laugh during that speech....

Aside from the fact that the Dem's gave a standing ovation after every 3rd sentence...

As you said the big O wants 450 Billion more in liquidity

No mention of cuts except to cut the payroll tax in half.

Not to mention it would probably take a year to get the jobs going even if he did create them

with more borrowed money they do not have.

One has to wonder how that is suppose to work

Half a trillion more debt & cut one sector of income by 50%

Not that I agree with income tax anyway but.....

These ideas he has are just more irresponsibility & starting at the wrong end of the problem.

At times I wonder given all the money they created already since the start & called stimulus...

They should have just mailed checks to the citizens. At the end of the day it would have more results.

[Wrong Turn]

They should have just mailed checks to the citizens. At the end of the day it would have more results.

Instead of the citizens who are paying for it, the corporations and state and local government and of course, the banksters.

I watched the speech last night. It was a laugh. And he got got repeating many themes and exact statements he made in a 2009 speech. It was in the Washington Post.

Obama doesn't get it. I prefer him as the "lesser of the 2 bad" when compared to McCain-Palin but I think in 14 months it'd be time to move on for him.

However....we shall see.

[Naam]

[churchill]

JP Morgan explains the euro crisis with lego

http://blogs.reuters.com/felix-salmon/2011/09/06/jp-morgan-explains-the-euro-crisis-with-lego/

[churchill]

It looks like France and Germany vs Markets ---

"Euro Death Wish" and Global Finger-Pointing: U.S. Senior Official Blames Eurozone for "75% of the Dark Things Happening in the World"

http://globaleconomicanalysis.blogspot.com/