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Wall Street Breakfast: Must-Know Newsby SA Editor Rachael Granby- Bank trio becomes duo. Wells Fargo (WFC) will become the largest U.S. bank by branches with its bid for Wachovia (WB), after Citigroup (C) withdrew from compromise negotiations late yesterday on concerns about the quality of some of Wachovia's assets. Wells Fargo, with a bid valued at $11.4B, expects the purchase to be completed by the end of the year, and denies it will have to absorb assets shakier than originally thought.
- Government considers next steps. As the financial crisis continues to worsen, the U.S. government is considering two dramatic steps to turn around, or at least slow, the damage: guaranteeing billions of dollars in bank debt and temporarily insuring all U.S. bank deposits. The moves, which would mark the government's most extensive intervention to date, are in discussion stages only.
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Wednesday, October 15.Bullish Calls:Continental Resources (CLR) -- "This is a remarkable decline. All of the high quality ones are down so much, I can't go against it. This is where you pull the trigger.
3M (MMM) -- The moment this stock starts yielding 5%, I'm a buyer. Until then, keep your powder dry.Bearish Calls:Computer Sciences (CSC) -- This is a company that was going to be bought, but they passed up the chance. Now I don't want to buy it."Email continues...
Annaly Mortgage (NLY) -- I think this is a business model that needs to borrow money. Definitively do not buy."
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Latest Comments61 Comments
Selling Short America and the Rest of the World
Maybe this will help:
www.youtube.com/watch?...
Lehman Won't Be the Last Major Bank Failure
This reminds me of the scene from “Independence Day” when the Prez (Bill Pullman) is mind linked with the alien.
”I could see into the minds and I know what they are planning. They are locusts going from planet to planet, stripping it of all its natural resources. When they’re finished with one planet, then just move on; and we’re next!
Nuke ‘em! Nuke the bastards!”
Have the Limits of US Monetary Policy Now Been Reached?
Just like oil and the so-called 'speculators' speculation, our financial system is based on parameters, some more esoteric then others, which have been destroyed by a select group of narcissistic short sellers.
Fannie & Freddie did not have to happen, and we all need to look for the true reason why it, among others things did happen.
You’ve all heard the anti-drug commercial: “A mind is a terrible thing to waste.” >>> well: “Confidence is a terrible thing to destroy.”
Merger Watch: Longs Drug Stores - CVS Caremark
Jet Blue: Analyst Enthusiasm Could Present Opportunity to Sell
I am still amazed on why so many have become obsess with the US’s financial demise.
Fear Not Yet a Factor
Firstly, they can take their liquidity and INVEST it for the building of our society, instead of trying to destroy it.
Secondly, who ask these people to be my financial guardian? Did I miss the election?
But in any case, it's not so much the shorting process, but really the GANG-SHORITNG of stocks. It has become far too easy for a couple of well funded shorts to water-board a stock to death. Torture in the name of transparency, is still torture.
Financials and Housing: The Outlook Remains Ugly
Have you ever thought maybe, just maybe that the constant water-boarding of our banks and other financials institutions has perpetuated a major part of this mess. If they treated prisoners at Guantanamo like you treat our financial system, people would be screaming bloody murder.
Ok, you were right BUT:
STOP IT ALREADY! ENOUGH! BASTA! NO MAS!
Ackman Scores Big on Longs Drug Stores
"As Ackman just started accumulating shares in late June and July in the $40 range, this is an amazing windfall for Ackman and may go down as one of the 'best trades ever.'"
then Ackman was amassing this overly quick future fortune just when CVS was hitting a new high at around $44+ and THEN quickly DRIFTING back to $37ish.
Yeah, SOMETHING DOES SMELL VERY FISHY HERE!!!
Ackman Scores Big on Longs Drug Stores
I wonder what that jerk will do now - invest in CVS? Doubtful. Something smells very fishy here!
The Emperor (Mr. Ackman) Has No Clothes
History will write that this man was a destructive force for our society, and his actions served no better purpose except then to further his own portfolio.
Financials Have Bottomed? Readers Say We're Nuts
This trader mentality and the need to show a short-term profit, both on the personal and corporate levels will be the death of us all. It promotes the short-seller and short-term gain’s scenarios that cause the volatility and do NOT add to societies greater good.
What is it building? What product is it making?
We all need to step back and see what we are trying to create here, or in the current case, what we are trying to destroy. The stock market was meant for building a business and therefore the American economy. It was become an extension of Vegas and needs to get back to its roots. I have a fix posted on my site under the 3/22 blog that most everyone will hate. You should check it out. In the meantime just think of the TV show ‘FastMoney’ as the poster child for poor trading behavior and just an example of the real reasons behind the current ills.
Short Selling: Others Want Protection Too
Selling the Short Sellers Short: Another Sign of Trouble
4. the gang-shorting by hedge funds. Even Cramer (whom I dislike) has been screaming for this measure.
Selling the Short Sellers Short: Another Sign of Trouble
Yes the shorts caused this financial meltdown and yes there are oil speculators that caused the rediculous run up.
1. reinstate the up-tick rule
2. Crack down on naked shorting for ALL stocks
3. BIG crackdown on what is said on National TV and in the press
A Long-Term, Structural Solution to the Banking Crisis
THEN, how about we institute a "WINDFALL PROFITS TAX" on those shorts who have outlandishly profited from the destruction of our banks, insurers, mortgage companies, and economy at large.
Oh yeah I know the arguement the shorts give:
"No..no..no! It ain't me babe! I ain't me you're looking for, babe!"