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  • BofA, Lehman, AIG: The New Financial Realities
    @guilamo: it could be a self-killing, i.e. harakiri. time will tell.
    Sep 15 10:25 am |Rating: 0 0 |Link to Comment |View article
  • BofA, Lehman, AIG: The New Financial Realities
    @paul&Shark: wtf? who cares how much you made or lost?
    btw: people who need to brag about their trading success usually lose their money pretty fast. so better watch out
    Sep 15 10:24 am |Rating: 0 0 |Link to Comment |View article
  • Bank of America / Merrill: Shotgun Marriage
    Mish, naked shorts may have had no hand in LEH, but before you dismiss the 'naked shorts' factor that easily you ought to look into it and research it. You blunt rejection reads more like a biased opinion than a conclusion arrived at after due consideration.
    you shouldn't get ahead of yourselves. you are just a human being, no genius and you can and you actually do make incoirrect assumptions and statements - like all of us do from time to time.
    time to get a bit humble, perhaps, no?
    Sep 15 05:35 am |Rating: 0 0 |Link to Comment |View article
  • Why Merrill's CDO Sale Doesn't Mean Big Writeoffs Elsewhere
    Tom, you are right of course - that mer esentially sold cdo-stuff for 5ct on the dollar says nothing about the CDOs held by others. It#s in fact not very hard to assume that they can't hold worse stuff but rather might hold better. BUT: what does it tell you about the true state of affairs at Merill? when they sell fpr 5 cents on the buck just to get some 6.7 bn in cash upfront (even if they might have to pay 5bn of that back over time). When they have to dilute their stock at a multiyear low by 38% and to basically issue new shares to Singapore at $7/share? What was all that bs said by Thain worth when he didn't have the balls to issue more new stock earlier while merill was trading much higher?
    What is does tell me at least (unlike you me being no banking expert ) is that mer sees very tough times ahead which they feel the need to get prepared for. Even with better cdo-stuff, these times may be as bad for anyone else.
    this is NO cyclical downturn for banks - this THE biggest financial services bubble ever deflating.
    There is more bad stuff to come - and I am pretty certain that over the next 6-12 months we will see one or more major banks (commerical or Investment) failing to raise fresh equity - leading to a true panic bottom for financial stocks.
    Aug 01 04:06 am |Rating: 0 0 |Link to Comment |View article
  • American Express Calls Investment Banks' Bluff
    r