Sen. Mike Johanns (R-NE) on FoxBiz on his legislation in re Congressional Oversight of TARP takeovers of private firms…

Senator Mike Johanns (R-NE) is interview on Fox Business on June 4, 2009, on his proposed legislation to assert Congressional oversight over the nationalizatoin of companies using TARP funds.

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June 5, 2009. Tags: , , , , , , , , , . Economy, Finance, Obama Administration, Politics, TARP, Uncategorized, Wall St. Comments off.

Video Update: Countrywide’s Angelo Mozilo sued by SEC for insider trading and investor fraud…

Update 2: SEC Press Conference from Bloomberg:

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June 4, 2009. Tags: , , , , , , , , , , . Economy, Finance, Foreclosures, Housing, Politics, Reggae, TARP, Uncategorized, Wall St. 1 comment.

Mixed Messages to Banks: Lend More *smack* Raise More Capital *smack* Lend More *smack* Raise More Capital…

Poor Bastards. It’s like Chinatown out there.

WOTS now is they will give BofA and CITI 30 days to dump Ken Lewis and Vikram Pandit and find more TOTUS Approved CEOs

Like Jamie Dimon who Obama seems to like thus JP Morgan Chase escaped the Naughty List of baaaad banks Timmeh put together….and Capital One of all people gets off with no more capital, how the hell is that possible with the charge offs rising??

Well we know how Chinatown ended..

Forget it Jake, it’s TOTUS-Town

May 7, 2009. Tags: , , , , , , , , , . Economy, Entertainment, FDIC, Film, Finance, Mystery, Obama Administration, Politics, Popular Culture, TARP, Taxes, Uncategorized, Wall St. 2 comments.

Bank of America’s Converted Capital – CNBC.com

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Great plan. I won’t be diluted right away, I will always have the POTENTIAL to be diluted without warning going forward. Fabulous. Or sell the rest of the stake in CCB China Construction Bank one of our best investments….MAROONS!

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more about “Bank of America’s Converted Capital -…“, posted with vodpod

May 6, 2009. Tags: , , , , . CITI, citigroup, Economy, FDIC, Finance, Obama Administration, Politics, TARP, Uncategorized, Wall St. 1 comment.

Market Mover Wednesday: BofA needs 34b but shares rise anyway…

M’kay….

As a shareholder I am all WTF?!?!?

Feds say we need to raise 34Billion and the shares are UP? WTH?

Where are we going to get 34 b? the markets? HA! HA!!

The government is going to convert to common equity and DILUTE US ALL TO HELL! WTH WOULD SHARES RISE ON THAT?

Makes no sense whatsoever…

CNBC:

Bank of America’s need to close a $34 billion capital gap wasn’t as bad a scenario as some on Wall Street privately feared, (Well WTH did they fear if 34B wasnt bad? I thought we needed like 15 or 20b!) sending shares sharply higher.

The company’s stock initially sank on fears that the capital needs would be dilutive to shareholders.

But traders instead focused on the importance of getting clarity to the numbers and a pervading sense that BofA could use other means to raise capital that wouldn’t necessarily be dilutive to shareholders, market sources said. Shares gained more than 10 percent before the opening bell.

They should just say, “but traders who are in deep frakkin denial are glad it wasnt a trillion” for all the sense this market action makes….this while Judge Garcia orders the Chrysler debtholders names released by noon EST today despite death threats..hang in there baby fight for the free market system, for all of us…..

Like Frida said baby I know there’s something going on and it aint good

May 6, 2009. Tags: , , , , , , , , , , , , , . Big 3, Finance, Music, Obama Administration, Politics, Popular Culture, TARP, Taxes, Uncategorized, Wall St. 1 comment.

Repost By Request: Liesman like Nixon: Rick Santelli to Steve Liesman: “Don’t Open Your Mouth and Say Dumb Things” – mediabistro.com: TVNewser

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May 5, 2009. Tags: , , , , , , , , , , , . Economy, FDIC, Finance, Politics. 1 comment.

Market Mover Tuesday: Stress Test Havoc continues, 10 banks need more capital…

and the leaks go on…

CNBC:

..The exact roster of banks needing to build their capital positions is still unclear. Banks are expected to be briefed on the official results on Tuesday.

The Federal Reserve and Treasury Department also will tell them how policymakers plan to publicly unveil the market-sensitive results, the source said, speaking anonymously because the discussions are private….

..Fed Chairman Ben Bernanke and Treasury Secretary Timothy Geithner are scheduled to present the findings of the regulatory stress tests on Thursday in a 150-page document, the source said.

Who Who Who!?!

Citigroup and Bank of America are expected to be among the companies needing to boost their reserves, Fred Dickson, chief market strategist at D.A. Davidson & Co said on Friday.  Wells Fargo and JPMorgan also are among the banks likely to need more capital, Dickson said.

Oh okay, it’s just all our biggest banks….and the market rallied in the face of this sending the S&P into the black for the year yesterday…D-E-N-I-A-L….

I have an idea, let’s subject the TOTUS Budget Forecasts to the SAME stress test scenarios and see what happens to the deficit! Pffft!

May 5, 2009. Tags: , , , , , , , , , , , . Economy, FDIC, Finance, Obama Administration, Politics, TARP, Uncategorized, Unemployment Statistics, Wall St. Comments off.

Update: BofA refutes FT report, says not raising capital: Market Mover Monday: red-headed stepchildren of Stress Tests try to raise capital and save themselves from Government….goin’ down…

Update: 8:57am EST: CNBC Becky Quick live now talking to Buffett reporting BofA issued statement denying FT report that they are raising 10b in capital…..the fact that the banks are fighting it out with Team TOTUS bean-counters IN THE MEDIA is frightening..yeah I sold in May baby and I would go away could I afford a vacation in this economy, HA!!!

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Here they come, walking down the street, they get the funniest looks from the Treasury agents they meet..

Hey Hey they’re the Zombies, people say their capital’s down…

yada yada…they managed to get everyone but JPMC under their thumb here, they nabbed Wells Fargo and PNC too….

CNBC:

Bank of America is working on plans to raise more than $10 billion in fresh capital, even as it and Citigroup launch last-ditch attempts to convince the U.S. government they do not need to bolster their balance sheets, the Financial Times reported.

Citing people close to the situation, the paper said that Citi, Bank of America and at least two other lenders will on Monday attempt to convince the U.S. Treasury and Federal Reserve that the findings of “stress tests” into their financial health were too pessimistic.

Bank of America, which has had $45 billion in government aid, was found to need well in excess of $10 billion, the Financial Times reported on its website on Sunday, citing sources.

Regional lenders Wells Fargo and PNC Financial were also among the banks that would need to raise more capital unless they could persuade the authorities their findings were wrong, the paper reported, citing people close to the situation.

*Monkees courtesy of OrangeTabbyCat3

May 4, 2009. Tags: , , , , , , , , , , , , . CITI, citigroup, Economy, FDIC, Finance, Music, Obama Administration, Politics, Popular Culture, TARP, Uncategorized, Wall St. 1 comment.

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