I am long on banking - Page 3 - Mercedes-Benz Forum

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post #21 of 48 (permalink) Old 04-09-2009, 05:35 PM
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I am bullish on shit.

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post #22 of 48 (permalink) Old 04-10-2009, 06:34 AM
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Perhaps someone could explain how any of the banks could be both Q1 profitable and require TARP money. That seems to fly in the face of logic.

Having gone through WFC's report, I see a $20bn total revenue, and an allowance for credit losses of $23bn, that also defies logic, I am wondering how they pulled that off, and what happens if we take off the money we gave them. The 8K on the 22nd is going to be submitted in a magicians hat. If they are truly one of our best banks, the proof will be in the pudding that day.

Here's the WFC News release from their investor relations website.

https://www.wellsfargo.com/pdf/press/1q09pr.pdf

When devils will the blackest sins put on, they do suggest, at first with heavenly shows - Othello
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post #23 of 48 (permalink) Old 04-10-2009, 09:14 AM
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The bailouts were bullshit.
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post #24 of 48 (permalink) Old 04-13-2009, 11:12 AM Thread Starter
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Citigroup, B of A rise on earnings hope - Yahoo! Finance

I am hanging in there!
Maybe I will make enough to buy a brand new 190E that doesn't stall
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post #25 of 48 (permalink) Old 04-13-2009, 11:41 AM
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Originally Posted by cozette View Post
Perhaps someone could explain how any of the banks could be both Q1 profitable and require TARP money. That seems to fly in the face of logic.

Having gone through WFC's report, I see a $20bn total revenue, and an allowance for credit losses of $23bn, that also defies logic, I am wondering how they pulled that off, and what happens if we take off the money we gave them. The 8K on the 22nd is going to be submitted in a magicians hat. If they are truly one of our best banks, the proof will be in the pudding that day.

Here's the WFC News release from their investor relations website.

https://www.wellsfargo.com/pdf/press/1q09pr.pdf
It's finance. Logic applies to much, but not all of it. Divest properly and you can show a one time profit. Unfortunately your revenue stream may now be unable to support your monthly nut and TARP needs to be in play. They lived for years on the shifting of assets and now are too lean to support. This may very well fit the model for TARP inventments.
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post #26 of 48 (permalink) Old 04-13-2009, 11:44 AM Thread Starter
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Originally Posted by Stuantle View Post
It's finance. Logic applies to much, but not all of it. Divest properly and you can show a one time profit. Unfortunately your revenue stream may now be unable to support your monthly nut and TARP needs to be in play. They lived for years on the shifting of assets and now are too lean to support. This may very well fit the model for TARP inventments.
..and what are you doing about it? Watch the show?
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post #27 of 48 (permalink) Old 04-13-2009, 11:46 AM
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very tempted to say that 0 will save us.
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post #28 of 48 (permalink) Old 04-13-2009, 12:28 PM
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very tempted to say that 0 will save us.
Why did you post a zero instead of an O? If on purpose, I agree. If not, naughty, naughty...
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post #29 of 48 (permalink) Old 04-13-2009, 12:51 PM
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I correctly used a 0.
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post #30 of 48 (permalink) Old 04-13-2009, 01:22 PM
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There are many things Obama is doing I do not agree with, mainly expanding government influence and power. But Bush was an even larger disaster, his outrageous spending, his naive world views that were not pro American in any vein, and his lack of common oversight in the financial district all led to the recession we are currently in the midst of. I wanted a third choice badly, but O is still far better than W. At least O doesn't make Americans look stupid every time he tried to complete a sentence. W. betrayed every vestige of the true conservative. Any conservative still backing W. is not a conservative at all.
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