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The Stock Room page 57
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(Continued from page 56) apppro’s take for 10/19/2010 @ 06:00 pm EST: 3 Degrees of Separation: Pimco, Greece, & Us Just remember back almost 1 year ago and you may recall how a bond issuer – Pimco, was shorting the Nation of Greece and almost destroyed the entire European Union in the aftermath. The entire World for that matter was in distress for months afterwards. Now just look into today’s looking glass and you’ll see Pimco there again, but this time they’re doing it to us ALL through their destruction of our banks. I told you this was going to happen… that Pimco would come after the U.S. next! This mortgage thing has now been whipped into a frenzy by the media. Companies like Pimco are using, in many cases feeding this hysteria so they may sue for money’s they knew a long time ago that they were not entitled to or were just plain loses they never could accept. TFB! Here's a quote from Joseph Mason, a Wharton fellow and finance professor at LSU: "There is no question whether the contracts each party signed were valid. The Borrower owes the money they used to buy the property. The Lender has a claim to that money. Mere delays in providing documentation of a perfected collateral claim will not change the situation." Review & Outlook: The Housing Bust Lobby - WSJ.com (This is a pay site.) Even then the Attorney General in Texas said enough was enough. He said that this may take time, but these foreclosures should go ahead – it was merely paperwork. The only people getting anything out of this are these vultures:
Foreclosure Fortune Buys Bugatti, Yacht, Mansions for Attorney - Bloomberg What we have is expert after expert telling us that any and ALL of this insanity is really not an issue. However, we then get headline after headline trying to make everyone hysterical with overblown and ridiculous numbers. Fear is a very hard thing to fight even if it has no basis in reality. This is exactly what we allowed David Einhorn to do to Lehman’s. We all should remember what happened to us all after that fiasco! Look, even if those nut cases on Fast Money say enough is enough and things are really overdone, well then… if I’m willing to quote those jokers then it must be true! Denial is NOT a river in Egypt! This is just not a matter of Pimco going after just 1 bank, BoA. Don’t be mistaken… if they are allowed to get away with anything against BoA, then who is next… Wells Fargo… JPM Chase… Morgan Stanley? There is no stopping this if we allow it to get started under the hysteria express! What we really need is some help from our President, but instead we get more political mumbo-jumbo: WRAPUP 1-White House keeps heat on banks over foreclosures | Reuters Mr. President: This won’t end well – do the right thing and please help to stop this insanity for everyone’s sake! Yeah, and I have a bridge in Brooklyn! _______________________________________ apppro’s take for 10/15/2010 @ 05:00 pm EST:
EXTORTION: The Ends Justify The Means?
This ‘robo-schmobo’ thing is now out of control. We are allowing a group of short hedge funds, enabled by a gullible media to naked short our financials into a position that NONE of us want. Remember March 2009? However, this time it will end a whole lot worse if we allow it to continue. The EXTORTION by State attorney generals is really what is totally out of control. Just listen to this interview with Iowa’s AG. He says that this entire thing is the ‘robo-schmobo’ thing ONLY, BUT he has no intention of trying to fix it! He just wants his pound of flesh and wants the banks to give people who are not paying their mortgages, homes at 50% off.
Is this right? Last time I checked, EXTORTION was worse than ‘roboing’. If you listen to the media, everything is ok as long as we go to buy a gold encrusted iPhone that will do search on an Android operating system for a book to read on a trip you booked online! Hey morons, if we destroy our banks and they can’t make loans at all just so that a few shorts can make more money; then where the hell is anyone going to get the dollars to buy anything! Where is the outrage?
A Must Read: BAC: Oppenheimer Questions that Foreclosure Math - Stocks To Watch Today - Barrons.com _______________________________________ apppro’s take for 10/13/2010 @ 06:00 pm EST: In media report after media report, in interview after interview, in official announcement after announcement, in everything that keeps coming to light… it must now be painfully obvious that what is occurring in this foreclosure insanity is simply a few ultra-something’s trying to coerce the banking system to give delinquent home owners their houses at ½ OFF! Hey, tell me where I can go to buy a house at half off, or to get someone to give me my money back on a bad stock purchase! I’m there! Banks Facing Billions in Losses Yeah banks MAYBE facing loses! You would too if you had to give away the items you sell for ½, because someone says you must do it or I’ll keep beating you over the head about it! I don’t care what form of distorted logic they use to justify their coercion—they are just plain WRONG!
Has anyone heard about: BLACKMAIL… EXTORTION… RICO LAWS!!!!!!!!!!!!!!!!!!! BLACKMAIL… EXTORTION… RICO LAWS!!!!!!!!!!!!!!!!!!! BLACKMAIL… EXTORTION… RICO LAWS!!!!!!!!!!!!!!!!!!! BLACKMAIL… EXTORTION… RICO LAWS!!!!!!!!!!!!!!!!!!! BLACKMAIL… EXTORTION… RICO LAWS!!!!!!!!!!!!!!!!!!! BLACKMAIL… EXTORTION… RICO LAWS!!!!!!!!!!!!!!!!!!! _______________________________________ apppro’s take for 10/12/2010 @ 06:00 pm EST: What the true and ultimate disgrace that has come out of this foreclosure insanity is not so much this ‘robo – schmobo’ thing; but rather has been how we all have allowed some media narcissistic, talking-heads to continue free reign on spewing their own personal sense of stupidity with no thought as to the consequences and with NO independent oversight asking them to keep their big mouths shut! Whether you agree with what has happened or not, it is certainly NOT the appropriate place for some of these antiquated shills who try to pass as news reporters to be allowed to continue. There are times when you can actually see a glimmer of arrogance & hate in their eyes. Walter Cronkite is probably turning in his grave at all of this! Today was just out of control. One so-called CNBS reporter after another kept pushing this foreclosure issue… NO MATTER how many times experts told them that it really should be considered as a nonevent. EVEN the Prez chimed in and told everyone to forgetaboutit! But late today was the icing on the cake. It is NOT the place for a reporter to be pushing anyone, especially an Attorney General to EXPAND this case or any case into areas that are not the issue at hand. At one point the so-called reporter was telling the AG to modify loans even after he said that they that was NOT his purview! I can only imagine that this so-called reporter has some relatives or friends who are being evicted, and she is using cable TV to get them back in their homes! If anyone remembers how that horrid of horrid so-called reporters Dylan Rattigas on CNBS used to yell in our faces the “N” word back in 2009, then you all should shake in fear about how these jerks – yes jerks – keep this hysteria going! These people should be ashamed of themselves. It is a true national disgrace! But what should really get you even madder, is when other media pundits come on the air and say, “Yeah that kind of reporting is wrong, BUT THERE’S NOTHING I CAN DO, SO WHY BOTHER!” This buffoon even specifically mentioned the robo disgrace! Sort of reminds you of
If we all don’t bother, then how the heck will it ever get fixed!
The 4(5) Golden Rules 3. Institute some rules on how the media ’reports’ news in order to prevent rumor-boarding. Not censorship… just sensibility & responsibility. _______________________________________ apppro’s take for 10/12/2010 @ 07:00 am EST: How can we expect our financial regulators respect and implement any rules to control the manipulation of our markets by short-term traders/traitors, WHEN the very people who they depend on to feed them PUBLIC issues ARE using every trick in the book to screw everyone over… AND LEGALLY, TOO! Lawmaker Vows to Outlaw Insider Trading on Capitol Hill - WSJ.com
This is not a new issue! Hey, why don’t we all get a government job paid for with public money so that we all can use insider public information to trade in our public markets? MAJOR QUESTION: Has anyone checked to see which Congressional staffers that were directly involved with ObamaCare and FinReg, were using insider info to short the healthcare and financial stocks, respectively?? _______________________________________ apppro’s take for 10/10/10 @ 04:00 pm EST: Holly Molly! _______________________________________ apppro’s take for 10/10/10 @ 09:00 am EST: Please take some time today and read over this absolutely fantastic article. A voice for reason and sensibility in this insane world. · The Foreclosure Mess: We All Need to Calm Down at Seeking Alpha Sun 12:53AM EDT
_______________________________________ apppro’s take for 10/08/2010 @ 06:00 pm EST: Have any of you been following this latest insanity over the foreclosure mess? You can check the Seeking Alpha link to the left for some of my comments on the subject. Basically, in order to cut costs and speed this horrible process up, banks had outside help process the paperwork – ‘robo-signings’. They did nothing wrong, maybe an occasional small mistake (Note: NONE have even been alleged!) now and then, but nothing out of the ordinary. Some lawyers and judges with short sellers prodding decided to blow this out of proportion and now people are screaming for ALL foreclosures to be stopped altogether! Just a disgrace! Ok, you don’t want to listen to me, how about you listen to others. Even Suze Orman, the most unlikely source, has called this stoppage ridiculous! And there are other mortgage experts saying that this delay is BAD FOR EVERYONE! But then we return to the same people who brought us the Barney Frank Fannie & Freddie disasters calling for nationwide insanity: Senate’s Reid wants nationwide foreclosure halt - Denver Business Journal Has no one seen this for what it is: A political ploy by Obama to bash the banks in order to win another election, AND another tool for shorts to further create angst within our financial system? I demand that someone – anyone show me the errors and mistakes in any of those 100,000+ mortgage documents that might cause any injustice? These robo-signatures, what we all used to call ‘rubber stamps’, is NOT a reason to let someone out of living up to their responsibilities. Or in this case NOT living up to their responsibilities. Closure is a good thing, even if you don’t want it! Hey, here is an idea: let the new head of the ‘Screw us All over Again Agency’ Mistress Elizabeth Warren, solve this wasteful paperwork and lawyer fee issue as her 1st priority! A lawyer taking on lawyers? This I’d love to see! _______________________________________ apppro’s take for 10/03/2010 @ 09:00 am EST: Movie and Reality Review
I went to see the new ‘Wall St.’ movie last night. No I didn’t go see that over pos about Facebook! Even though I may have no life and no friends, I won’t even log on to that site, so I certainly won’t pay $12.50 to see some hype about it! Anyway, back to Wall St. I think most will agree that sequels are rarely as good as the original… this one is no exception. I was entertained, but Michael looks so old and tired, and that Transformer guy and his girlfriend just didn’t make it. What did catch my attention was this may have been the only time anyone SORT OF acknowledges David Einhorn’s orchestrated and rumorboarded take-down of Lehman’s. However, it left the true history short (no pun intended) and again I left feeling as if bank bashing has become the accepted norm. Besides, with all the horrid hyping of CNBS and it’s totally biased reporters – HEY… I could have just stayed home and turned on my own TV for free to get the same crapolla! And how the heck was Dylan Rattigas allowed into this… I almost walked out at that point! (Continued on page 58) |
