Vegasjoe

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  • The Second Wave of Bank Troubles
    FHN has cleaned up most of the mess, selling all the crap that got them into trouble in the first place, at a cost of 75% or more to existing shareholders! So what is their second shoe? And what are the odds BAC cuts its dividend and raises capital? And why did they close on $4 Billion CFC if it is all bad long term? What is long term? 3 quarters or 3 years? And what was WB thinking when it overpaid at $25 Billion for Golden West? Their current Board Chairman, and acting interim CEO, Smith, has presided over 20 years on the board of First Union's stalwart acquisitions, which led them to change their name to protect the guilty when they stole Wachovia. Infact, the only decent acquisition First Union has likely done is steal WB, but then they had to grease the palms of the outgoing CEO at Wachovia, Baker.
    Jun 10 12:40 pm |Rating: 0 0 |Link to Comment |View article
  • Moody’s: Some US Banks Still May Be Undercapitalized
    Maybe Warren Buffett slapped Moody's management, since he owns a slug of it, to get them to actually start rating securities based on risk, not how much these firms could extort in fees to maintain a fake high credit rating? At this late point, Moody's must do an awful lot to restore credibility.

    [ED: Comment edited to remove abuse.]
    Jun 09 06:59 am |Rating: 0 0 |Link to Comment |View article

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