Vegasjoe

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  • Value in Regional Bank Stocks?
    If Wachovia writes down most of the Golden West purchase, what book value will be left? Investors have seen the stock fall in 12 months from the mid 50's to $17 and change. FHN is cleaning up all of the stupid "we want to be a big player" mistakes and going back to basic blocking and tackling. What major bank will go bust first? Vegas odds say WaMu.
    Jun 18 09:29 am |Rating: 0 0 |Link to Comment |View article
  • 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

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