the final horseman
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Wall Street Breakfast: Must-Know Newsby SA Editor Rachael Granby- Bank trio becomes duo. Wells Fargo (WFC) will become the largest U.S. bank by branches with its bid for Wachovia (WB), after Citigroup (C) withdrew from compromise negotiations late yesterday on concerns about the quality of some of Wachovia's assets. Wells Fargo, with a bid valued at $11.4B, expects the purchase to be completed by the end of the year, and denies it will have to absorb assets shakier than originally thought.
- Government considers next steps. As the financial crisis continues to worsen, the U.S. government is considering two dramatic steps to turn around, or at least slow, the damage: guaranteeing billions of dollars in bank debt and temporarily insuring all U.S. bank deposits. The moves, which would mark the government's most extensive intervention to date, are in discussion stages only.
- Credit stays frozen. As frozen credit markets refuse to thaw, the cost of default protection on corporate bonds reaches new global records amid investor concerns the credit crisis will trigger corporate failures as companies struggle to finance their businesses. Interbank lending remains limited, and borrowing from the Fed's expanded discount window continued its trend of setting new highs every week, as the total daily average rose to $420.2B vs. $367.8B last week.
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Wednesday, October 15.Bullish Calls:Continental Resources (CLR) -- "This is a remarkable decline. All of the high quality ones are down so much, I can't go against it. This is where you pull the trigger.
3M (MMM) -- The moment this stock starts yielding 5%, I'm a buyer. Until then, keep your powder dry.Bearish Calls:Computer Sciences (CSC) -- This is a company that was going to be bought, but they passed up the chance. Now I don't want to buy it."Email continues...
Annaly Mortgage (NLY) -- I think this is a business model that needs to borrow money. Definitively do not buy."
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Latest Comments87 Comments
The Next Phase Of The Financial Crisis
Greenspan, Please, Retire Already!
as to big al...the sob sold us out to the camel jockeys with his little euro vs dollar lecture.
Industry Analysts Vs. Financial Analysts: How Silly
General Garbage
What's Keeping the Dollar Down?
How Much Inflation Will We Have to Endure?
Inflation Statistics Remain Contained
Is the U.S. Trustworthy? What the World Thinks
hillary and hillary made 109 mil and payed about 25% tax...nice trick if you can play it
then, of course, caroline kennedy is supposed to pick out our new VP......hahahahaha
i think i will write in ben franklin....just because he's been dead for a couple of hundred years means nothing. he STILL has more brains then current or future candidates, and, no one in washington would notice anyway.
The Fed's Coming Rate Hikes
deathanol is a prime example...we dont need biofuels for 600 yrs in this country alone (not counting the reserves in our neighbors to the north)...just need to convert engines to natural gas aka propane...duh..we've been doing this for the past two decades...give or take
Technical Snapshot on the U.S Dollar
US Dollar: 5 Reasons It Will Not Hit a New Low
statistics can prove anything....'a man drowned in an average of six inches of water'...i suppose its possible if he was unconsious and face down...or someone stood on his head
perhaps our mz author played ostrich in a river.
personally, i dont see why the markets react positively to a bunch of lies and B.S. (and i dont mean bachelor of science here)
the dollar is suspended in mid air... held up by a foundation of sand OR the updraft of a helicopter.
cant wait NOT to read bennie's memoirs...wonder if he will blame big al
hahahahahaha
Bernanke Seems Willing To Allow More Downturn Than Greenspan
and...dont forget pol pot, the clauldian emperors, etc.
ad infinitum ad nausem
and .... the japanese used the bomb thingee to save face....they knew we only had two...try reading history
Bernanke Seems Willing To Allow More Downturn Than Greenspan
Employment Report Disaster
they wouldnt know the truth if it fell on themEnter your comment here
Ben Bernanke: Talk May Be Cheap, But It's Not Worthless