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Monthly Archives: June 2012

BofA Tops the Consumer Complaint List

“Major banks including JPMorgan Chase & Co. (JPM)Bank of America Corp. and Citigroup Inc. (C) were the subjects of the largest number of complaints to the U.S. Consumer Financial Protection Bureau in 2011, according to data obtained through a public records request.

Bank of America accounted for about 13 percent of the 13,210 complaints, mostly about credit cards, to the bureau between July 21 and Dec. 31, 2011. JPMorgan and Citigroup each accounted for about 11 percent, Capital One Financial Corp. (COF) represented about 8 percent, and Wells Fargo & Co. (WFC) accounted for about 5 percent. The number of complaints was roughly consistent with the size of the banks’ credit card business.”

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Market Update

U.S. equities are in full retard mode to the upside. Stocks are being driven as if they were a hot rod stolen from the streets of L.A. with cops in hot pursuit.

We do have some good news to celebrate; and that is yields came in for Italy and Spain while the ECB pledged to take it easy on Greece.

Then there is the question of QE and the fed statement tomorrow. The close will tell today’s story.

Hit bids if you can.

Market update

[youtube://http://www.youtube.com/watch?v=84t4_Cfei-Y 450 300]

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Secret Service Agents Got Their Freak On More Than You Know


The president is a lot more popular on Martha’s Vineyard than the men and women who guard him.

MARTHA’S VINEYARD, Mass. –  Long before President Obama’s security detail was scandalized in Colombia and new revelations emerged last week about the Secret Service, members of the elite team earned an “Animal House” reputation at the blueblood vacation mecca of Martha’s Vineyard.

Local residents say wild parties, fights and late-night carousing involving Secret Service members have become commonplace in recent years at the Vineyard, a favorite getaway for the First Family and longtime destination for upper-crust members of the Northeastern political, media and business establishment.

“I expect parties during the summer. People come here to have fun — they’re on vacation,” said a resident who lives in the East Chop section of Oak Bluffs, near the six-bedroom Victorian mansion whose owners dubbed it the Secret Service’s “party house,” after agents staying in a cluster of adjacent homes converged on it for late-night soirees. “But I didn’t think it’d be Secret Service people here protecting the president.”


‘If Secret Service says they’ve never received complaints about these same guys, then there is clear evidence to the contrary — if they say that, they’re lying.’

– Homeowner who says house was trashed by Secret Service agents


Trashed rental homes, bad behavior and barroom brawls that have required the local police to step in have some disgusted Martha’s Vineyard homeowners vowing never to rent out to the Secret Service again. And while none of the disturbing behavior appeared to have any direct effect on the president’s safety, some occurred even as the president and his family were nearby.

Read more: http://www.foxnews.com/politics/2012/06/19/exclusive-secret-service-agents-partied-like-rock-stars-on-obamas-vineyard-vacation/#ixzz1yGDGJld8

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{PHOTO} PUT THAT COFFEE DOWN! Alec Baldwin Catches Beef with Photographer

via TMZ.com

Alec Baldwin has a Violent Confrontation with NY Daily News Photog
Things got physical between Alec Baldwin and a NY Daily News photographer today … as Alec was leaving a NY courthouse with his fiancee Hilaria Thomas.

According to the NY Daily News, Baldwin had just obtained a marriage license … when he got into it with one of their staff photographers, Marcus Santos.

Santos told the paper Baldwin was screaming for him and another Daily News photog to back up … and they obliged. But Baldwin kept coming — “He comes after me, starts shoving and punching me — one time, right in the chin.”

But sources connected with Alec tell TMZ … the photographer almost HIT HIM with the camera and while Alec pushed him away … he did not punch him.


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Phelps to enter seven events at Olympic qualifying

Michael Phelps is setting himself up for the possibility of 10 Olympic medals this summer.


By Kevin Jairaj, US Presswire
That is, if he swims in all seven events he’s entered in at next week’s U.S. Olympic swimming trials — which is a pretty big “if.”

According to the psych sheet released by USA Swimming, Phelps is entered in the 200- and 400-meter individual medleys, the 100 and 200 butterflys, the 100 and 200 freestyles and the 200 backstroke. Yahoo! Sports and The Baltimore Sun both initially reported that Phelps would compete in seven events.

If he swims all those events at the trials (and qualifies) and competes as a member of all three U.S. relay teams, he could have a chance to win 10 medals. Guess that’s the only way to top his eight gold medals from the 2008 Olympics in Beijing …


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$FB Launches a New App With $GE to Help Widen its Social Scope

“The Open Graph has proven to be a major tool for Facebook to extend its reach beyond its own social network into the wider Internet, and today comes news of an app that could just be the first sign of how that might even go even further than that. Today the company launched a new app called HealthyShare — a place for Facebook users to set health goals for others and help each other reach them. Developed in partnership with GE, the app is playing off the focus on fitness with this summer’s Olympics, and represents a moment for a brand to make an Olympics mark on the Facebook platform — even as Facebook is not allowing sponsorship into its own official Olympics portal.”

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New Study Shows Mobile Ads Do Better Than Desktop Ads

$FB ads were a big question as GM and other companies pulled advertising dollars just as the company went public. A recent study shows that mobile ads on $FB do much better than their counterpart desktop ads.

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Housing Has Bottomed

Today’s housing starts where not so good. Pundits claim we have found a bottom.  Beyond the words, hopes,  and claims; let the charts do all the speaking.

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Laszlo Birinyi Charts Wall Street’s Euro Predictions; Nobody Has a Clue Where it is Headed


“The secret’s out: No one has any idea how the Euro is going to perform against the dollar.

Ticker Sense’s Laszlo Birinyi has compiled the major Wall Street analysts’ forecasts for the Euro against the U.S. dollar movement, and found an incredible divergence.

Here’s Birinyi’s chart: ”




And the full list:


chart 2 ticker sense euro

Read more: http://www.businessinsider.com/chart-wall-street-euro-forecast-2012-6#ixzz1yFdLkIAg

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Maudlin advises caution as Europe remains a total mess…

“What we’re seeing is the real end game,” says Mauldin.  “We’re coming to the end of government’s ability to borrow money to fund current spending that’s beyond the growth of their economy.

But Mauldin doesn’t see this as all bad, because in the end, governments will begin to tighten.”
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