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I've been blogging here for over a year. Early on, there were quirks in the publishing system--I wrote them off as "my steep learning curve!"
Recently though, when I emphasize a point by indenting it through making it 'a quote,' I generally find one or more of those 'quotes' at the bottom of the post--many times, out of proper order to the articles involved!!
I've decided that rather than secumb to the frustration of getting it right on the wrong site; I'll employ gigantic astericks (*) to ensure the reader knows the order of an article's paragraphs.
[Thanks for "listening" to this rant!!]
Some "Seekingalpha" Headlines (October 15th)
http://seekingalpha.com/article/230222-wall-street-breakfast-must-know-news?source=email
Foreclosure crisis catches up to bank stocks. All the renewed talk about the foreclosure crisis has finally taken a toll on banks' shares, with U.S. financial stocks posting notable losses yesterday while the broader market was essentially flat. Bank bonds fell and banks' credit-default swaps widened. The fear is that problems related to foreclosures aren't easily resolved technical glitches but rather widespread flaws which, in conjunction with political pressure, could stop the entire foreclosure process for an undetermined period of time. In yesterday's trading, C -4.5%, GS -2%, BAC -5.2%, WFC -4.2%, MS -1.9%, JPM -2.8%.
SEC, Countrywide execs works towards settlement. The SEC appears to be making progress on a settlement of its high-profile civil fraud case against former Countrywide Financial CEO Angelo Mozilo and two other former executives. Sources said the two sides have been in deal discussions in an effort to reach a settlement before the case goes to trial on Tuesday. Though the SEC and the defendants have put an enormous amount of effort into preparing for the trial, the defendants are keen on a settlement to avoid the possibility of criminal charges while the SEC is nervous its already-battered reputation would take a punishing blow if it loses one of the biggest government enforcement actions to come out of the financial crisis.
Treasury's conflict of interest in GM's IPO. General Motors said yesterday that the Treasury's 12.4% stake in Citigroup (C), in conjunction with the Treasury's 61% stake in GM, poses a conflict of interest in GM's upcoming IPO according to Finra rules. As a result, Citigroup Global Markets won't be allowed to sell shares to discretionary accounts without prior consent from clients. The IPO is expected to take place in November; no formal price range has been specified yet, though GM Chairman Ed Whitacre has said he expects a share price "somewhere in the $20 range... $20, $25, something like that would be my guess," based on a 4-to-1 split.
My Comments:
- How can the banks maintain fiscal integrity with the regime undermining their basic premise: Profits; Shareholder return.
- While the SEC is going after the Countrywide executives, there's one Connecticut Senator's name conspicuously missing from the list of villians!!
- Since when has "conflict of interest" ever bothered the obama regime?!? Aren't the 'powers-that-be,' being a wee-bit optimistic, given that "Government Motors" (MTLQQ.PK) stock is in the 33 CENT range; the 'old' General Motors (GM) stock is in the 69 CENT range?!?!
['Class Warfare' from Bloomberg News:] Presenting obamacRATs as the party that will fight for the “middle class,” and republicRATs as the party that will look out for “millionaires and billionaires,” obama in campaign speeches and at fundraisers has sought to make his point using a populist lexicon that aligns republicRATs with big businesses as the forces behind the worst recession since the Great Depression. During the "Clown Prince's" October 10th Philadelphia speech, the usual villians: “special interests,” “Wall Street banks,” “corporations,” the “oil industry,” the “insurance industry” and “credit- card companies;” more specifically: AIG and Exxon Mobil. { http://www.bloomberg.com/news/2010-10-12/obama-engages-in-class-warfare-with-his-campaign-for-democratic-lawmakers.html }
['Widening the racial and socio-economic divides' from National Review-online:] During the "Clown Prince's" Philadelphia blather opportunity: President obama came to Philadelphia to rally supporters in the heart of the Keystone State’s obamacRAT base. During his remarks, he warned that republicRATs were “counting on young people staying home, union workers staying home, black folks staying home."
So much for the era of the post-racial, post-partisan presidency.
Til Nex'Time....
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