Greed is so good I can almost taste it. It sort of tastes like molten chocolate cake, mixed with raspberry jelly— topped off with lots of powered sugar.
Developing…
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Joined Nov 10, 2007
23,434 Blog Posts
C to $30!
dick.
http://www.nytimes.com/2008/09/29/business/29bank.html?_r=1&oref=slogin
“People involved in the talks said Citigroup and Wells Fargo were unlikely to bid more than a few dollars per share for Wachovia, substantially less than the $10-a-share price where its stock was trading on Friday. For Wells Fargo, a deal would extend its branch banking network across Mississippi River, creating a nationwide franchise that would compete with Bank of America and JP Morgan Chase.”
I thought WB would do better than WAMU or the other Banks that have recently failed. It appears I may be wrong. WB’s purchase of Golden West at the market top could be looked at as one of the worst investments in history.
Sell at open and move on.
Ever listen carefully to the size of the trades Gordon was doing in the movie? They were really softcock sized trades. Even if you adjust for the times they were softcock sized trades. In fact they were the size that Jake and Anton would do.
But anyway, good to see main street feel angry about the package. Whats funny is that the executives will waiver their salaries for a year and then claw back what they were owed in later years. Retards.. you can’t keep greed at bay.
Ahh Gecko, the man means so much more to me than Santa Clause ever did…
This Reuters story is giving me a bit of heartburn though as I go tlong a basket of banks on friday of which one is WB. Oh well whats 50k for the good of mankind.
http://www.reuters.com/article/businessNews/idUSTRE48R45R20080928?feedType=RSS&feedName=businessNews
MF
It’s clear that the government wants to create a few large universal banks and fuck the rest. They have no time for the small shit.
If the deal clears the big banks balance sheets or even if the market thinks it begins to be doing so…. let’s not get ahead of ourselves here as the next penny to drop is the leverage loans fiasco… things like franchise value etc. and the value of being big and favored by the Fed will begin to be reflected in the stock price. There’s plenty upside in these stocks.
Anyone here have an opinion on insurance companies for vehicles? I have Geico but these fucking people are out of their goddamned mind. They want to charge me more for 1 car than if I have 2 fucking cars, one of which I have already sold and am still keeping the coverage since its cheaper. Warren Buffet has got some head issues I think. These fucking morons can’t explain how this can be and I can’t either. How the fuck do you charge someone less for taking on twice the risk? Can anyone explain this or suggest a cheaper company, hehe maybe AIG?
Yes J,this is a money grab of epic proportion…I would expect HSBC to make their way into the sotheby bank auctions at this point.
I’m still trying to wrap my mind around jakegint having four(4!) children!
MUNI BONDS ARE SAVED>>> UPDATE YOUR THESIS BITCHES
“(7) the need to ensure stability for United
7 States public instrumentalities, such as counties and
8 cities, that may have suffered significant increased
9 costs or losses in the current market turmoil;”
I’m still trying to wrap my mind around jakegint having four(4!) children!
It’s times like this when you really have to feel for the kids. My heart goes out to them.
The new york bankers are fucktarded losers. I would rather see the system burn to the ground than give them one more nickel. F@ck them and the horse they rode in on. I hope the dollar dies a grisly death.
Futures falling.
http://www.youtube.com/watch?v=KHmX2nhGcXg
my bad, http://bloomberg.com/markets/stocks/futures.html
Well to be honest, Uncle Oklahoma I’d rather see Main street burn than wall street. Wall Street is far prettier.
let’s have a bet… a gentlemans bet…
Anyone want to guess who does the perp walk outta their 5th ave apartment in leg chains and handcuffs being led to the car on the way to the central precinct?
My guess is Dick Fuld.
they could actually have a woman or a black dude this time just so the diversity crowd isn’t left out.
hey j, i know you think wall st. is all bad and e’erythin’, but i got news for their asses.
Uncle Oak…
You’re jut sore that you’ll never make enough money to move out of the trailer. I’m empathetic to that. Really I am. But please don’t feel envy for smarter, good looking people that bag all the good looking chicks. It’s just not right Uncle Oak as envy makes you grow old and tired too quickly. Feel thankful that you’re living with the 300lb gal who was once thin. Live on the memories.
Breeheehee!!!
Bwahahaha!!
Chortle!!!
We’ll see who’s laughing when the SHTF!! HEEHEEHEE!!
You’re “sympathetic” to that, billabong toker, not “empathetic.” You may have empathy, but not in the transitive verb sense.
And the executives may “waive” their salaries, but the only things that go on “waivers” are cut football players.
Suggestion: Stick with two syllables or fewer and you won’t get lost so in the weeds.
Second suggestion: Don’t ever speak about my children again, or I’ll fly over there, do a late-night HALO drop into your dingo ranch and stuff you into your own didgeradoo.
__
jake:
STFU… I feel empathetic towards Uncle Oak living in a trailer park with a 300 lb stink bomb. I don’t feel sympathy, you nong.
yes it is waive. You really got me there, junior.
Dude, I am sympathetic about the kids for having you as their dad. I am not empathetic of course.
Empathy
Understand someone’s feelings.
Sympathy
Sharing the feeling of others.
Now why would I share the feelings Uncle Oak has living with a 300 lb tuna? You goose, Jake.
You can feel empathy, retard. You’re not “empathetic to X.”
Quit while you’re buried up to your neck in merde, Crocodile Humper.
____________
Speaking of merde, it looks like Fortis is going to get nationalised (sic).
Odd, no?
How much does AXA own, Fly?
___
I wasn’t arguing that the word didn’t exist, Grammar Goon, but that you were using it incorrectly.
This is my third and last post on this idiotic subject.
“Lead the Horse, water,” etc., etc, etc….
__
I really feel like were going down i the AM. Looking overseas gives me a feeling that are bullshit market will fall apart soon.
I hop I am wrong but I think were done.
Sleep tight…..
Jake:
dude, you really have issues when you’re running gram check on other people’s comments about you… on blogs. That means you’ve run out of gas.
And stop pretending you can read French.
Fortis rescued: http://www.thestreet.com/story/10439684/1/fortis-gets-164-billion-rescue.html
wow. 16.4 seems like a bargain.
I don’t think this bill, the way that it is structured, will be enough.
RC — Not sure that “nationalisation” means “rescue.”
It may mean so in terms of deposits and ongoing viability, but I’ll be Claude Raines “shocked” if equity holders are made whole by such an infusion.
But who knows? Maybe the Euros are more forgiving of their plutocracy than we are?
_____
Contractor — I’m in agreement. I think this bill pretty much guarantees that the most toxic crap will remain impacted within the colon of the US finanicial system.
Not sure that even $700 bn would have “done it” but I’m quite certain that $250 bn will not.
__________
Jake
On a serious note.
The package is “tranched” into 3 levels that make up the $750 billion, so it actually is that amount.
I think the market is so beaten up it not thinking straight for the day.
I don see how you can suggest the toxic waste will still remain in the banking system. It isn’t possible with a package of that size. As I see it the total amount touted is around $1.3 trillion in bad stuff. A good amount has already been written off … about $500 billion. So the package would clean up most of the mess.
“It’s all about the bucks kid, the rest is for conversation.” – Gordon Gecko
Given prior evidence of your attention to detail, I’m not surprised that you didn’t read the provisions of the bill closely enough, Dingo Milker.
$250 bn is all that is immediately available. That means the shittiest assets will sit on the shelves, growing more noisome by the day.
So solly.
__
Jake:
The package is not $250 billion alone, doodlecops.
it’s:
250 now
100 signed over by the prez
350 signed off by the congress
that doesn’t seem to suggest you’re right in your understanding.
I guess “immediately available” was too many syllables.
As I said, I’m done educating you. Send away for the Hooked on Phonics version.
__
Jake
Why does the full amount need to be made ‘ immediately available” you complete doofus?
Congress will recess until after the election. So the remaining $350B won’t be available until December.
MC
I don’t see them going through, 350 bill 6o odd days. if they did the problem is bigger than what we thought.
Market will sell off tomorrow because the fed/bankers are getting half of what they originally asked for (immediately). Good news for the wall street bankers. Ha!
fuck molten chocolate cake. and my former employer, chili’s. however, tomorrow i will make over a third of my former manager’s annual salary between 9:00am EST and 9:00.003am EST.
I have seen the futures, and they have lower stock prices baked in.
I closed my short Us Dollar positions on friday night my time and then went short today, but I closed that too seeing it’s basically a trading market.
I found this really interesting: the Fed’s measure of the monetary base has gone up by 75 billion this week. That’s a huge increase. It’s bigger than say Jake’s IQ going from 67 to 73.
Its going down, down baby
Your street in a Range Rover
http://www.minyanville.com/articles/MER-TGT-lehman-dollar-GE-C/index/a/19210
Toddo weighs in
Granted, this is from the NY Post, but….
CHICAGO – While Barack Obama has long downplayed his connection to Bill Ayers, a co-founder of the violent Weather Underground radical group, new documents show the two worked much more closely together in starting an educational foundation than has been previously known.
Recently released board-meeting minutes for the Chicago Annenberg Challenge show the two were present together at least six times in 1995 as the foundation’s members discussed how to organize and operate the project, which was Ayers’ brainchild.
Obama has always acknowledged he and Ayers both worked at the foundation, but has insisted they never had more than a passing acquaintance.
When asked by The Post how closely he worked with Obama, Ayers twice said, “It’s in the public record.”
In the Vietnam era, the Weather Underground conducted a series of bombings of official sites. Ayers wrote in his 2001 memoir, “Fugitive Days,” that he helped with the bombings.
Poof goes Wachovia.
… and this is why I am a daytrading fool and go home in cash 95% of the time.
yea:
So we have a president named Hussein who was a close friend of a terrorist. So why is that exactly a surprise to anyone.
BREAKING: KBW securities analysts cut WM to underperform this AM. Fools
Thought- Why is C geting involved? Aren’t they in trouble too? The blind leading the blind.
Shut the fuck up and start making money. All the bullshit talk won’t change anything. This will be the chance of a life time to bank large coin. Think positive trade the markets and things will work out. They will just print more money. So you just make more money. Until after the election all information you read is suspect.