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mahalo guy
Demolition Man


Joined: 28 Jun 2008
Posts: 2082
Location: Honolulu

Re: What does $7.49 buy you?
PostPosted: Tue Nov 29, 2011 4:08 pm Reply with quoteBack to top

I'm thinking about going long here
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: What does $7.49 buy you?
PostPosted: Tue Nov 29, 2011 7:36 pm Reply with quoteBack to top

mahalo guy wrote:
I'm thinking about going long here


Interesting. While you're at it maybe you can pick up a few shares of American Airlines Wink

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

Re: What does $7.49 buy you?
PostPosted: Tue Nov 29, 2011 8:26 pm Reply with quoteBack to top

10 years ago I went long silver under $5. I would not go long here with BAC at $5...or really any price...maybe if Paulson gave me inside info...Ha

I think UXG is a good long under $5...IMHO

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There isn't anything so bad that the Government can't make worse...

The 4-functions of government today are the same as a criminal enterprise: Lie, Cheat, Steal, and Kill...
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: What does $7.49 buy you?
PostPosted: Tue Dec 20, 2011 12:30 am Reply with quoteBack to top

Looks like BofA gave me exactly what I wanted for Christmas -- a 4 handle! ... and to think I didn't get them anything ...

If I were Buffet I think I would make "giving up baths" my New Years resolution.

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: What does $7.49 buy you?
PostPosted: Fri Jan 13, 2012 3:27 pm Reply with quoteBack to top

Bank of America Ponders Retreat

http://online.wsj.com/article/.....06546.html

Quote:
Bank of America Corp. has told U.S. regulators that it is willing to retreat from some parts of the country if its financial problems deepen, according to people familiar with the situation.

Executives at the Charlotte, N.C., financial giant put the potential move on a list of emergency scenarios submitted to the Federal Reserve last year, these people said. While people close to Bank of America insist that no retreat is imminent, even the possibility of selling branches and losing customers it spent huge sums to lure underscores the depth of its problems.


If they don't get their much hoped for QE3, I suspect we'll see "operation runaway" enacted toot sweet.

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: What does $7.49 buy you?
PostPosted: Sun Mar 18, 2012 12:36 pm Reply with quoteBack to top

Bank of America: Too Crooked to Fail

http://www.rollingstone.com/po.....l-20120314

This is a fun read with some great quotes, like this one:

Quote:
They're out of control, yet they'll never do time or go out of business, because the government remains creepily committed to their survival, like overindulgent parents who refuse to believe their 40-year-old live-at-home son could possibly be responsible for those dead hookers in the backyard.

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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Aaron
A-Bomb


Joined: 24 Jan 2007
Posts: 824
Location: Atlanta, GA

Re: What does $7.49 buy you?
PostPosted: Tue Mar 20, 2012 5:24 pm Reply with quoteBack to top

bdc63 wrote:
Bank of America: Too Crooked to Fail

http://www.rollingstone.com/po.....l-20120314

This is a fun read with some great quotes


Yeah, the biggest problem I have with it is that Taibbi blames the repeal of unit banking laws (which restricted banks to being in their same state) for BofA (et al.) growing too big. But that's madness -- under unit banking laws, we had recurrent waves of bank failures because if there was a crop failure or otherwise high unemployment in a region, all the banks would go under.

The blame should be placed where it belongs: on regulatory laxity towards high leverage, failure to pursue fraud (we now have a regime of institutionalized banking fraud), and failure to resolve insolvent banks.
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