Bank of America and Merrill Lynch
(11:13:33 AM) Angelo: don’t look at your stocks man
(11:14:35 AM) Ryan: I own Citigroup and they are near their 52-week low
(11:15:03 AM) Ryan: there are a lot of people talking about all the banks failing and a complete collapse
(11:15:17 AM) Ryan: it’s pretty bad
(11:15:42 AM) Angelo: how can it turn around
(11:16:11 AM) Ryan: basically, this is the 3rd day in a row of some kind of financial failing
(11:16:23 AM) Ryan: if the news stops for a week, then people will have confidence
(11:16:35 AM) Angelo: BAC kind of screwed everyone else over
(11:17:58 AM) Ryan: yep
(11:18:32 AM) Ryan: I think BAC may need to cut it’s dividend to save the stock value if this keeps up for another week
(11:22:09 AM) Angelo: cut this time around?
(11:22:11 AM) Angelo: I hope not
…
(12:04:40 PM) Angelo: I wonder what’s going to happen to WB
(12:04:45 PM) Angelo: I don’t want to be forced to sell at $15
(01:38:26 PM) Ryan: it’s really scary when MS beats earnings and is still down 35%
(01:38:54 PM) Ryan: I have a feeling BAC will vote down the Merrily Offer and make another offer cheaper
…
(05:08:40 PM) Ryan: I think options and derivatives really screwed things up because it turns small losses into huge losses
(05:08:51 PM) Angelo: options and derivatives?
(05:09:20 PM) Ryan: if you invest all you money in 1 option, the stock just has to move a hair and it’s all gone or your double
(05:09:56 PM) Ryan: so an entire country can loss all it’s captial with that kind of investment
(05:10:48 PM) Ryan: back in the 80s they had a simple motto of 3-6-3
(05:11:02 PM) Ryan: borrow from the gov’t for 3% lend at 6% and make 3% profit
(05:11:24 PM) Ryan: yes, but they could afford to do all that because it was simple and easy
(05:11:56 PM) Ryan: it’s way too complicated now
…
(05:13:23 PM) Ryan: I don’t know why all these people say Merryl Lynch was too expensive, we just won’t vote for it if it looks too expensive
(05:13:40 PM) Angelo: BAC isn’t going to cut the dividend
(05:14:46 PM) Ryan: this is hiliarous
(05:14:47 PM) Ryan: Did anyone see the interview on Bloomberg with Barney Frank today and the reporter asked Barney Frank, “do you know how much money the FED has?” or something to that reference and Barney Frank replied “I am not exactly sure because I met with Bernanke and I asked him do we have enough money to bail out AIG and Bernanke said yes, ‘I got about $800 billion dollars’ ”
(05:15:28 PM) Angelo: huh?
(05:15:39 PM) Angelo: Bernanke has $800 billion dollars?
(05:15:49 PM) Ryan: of tax payer money to spend
(05:15:55 PM) Ryan: he sounds like perot
(05:16:18 PM) Angelo: I think this country is going downhill
(05:17:01 PM) Ryan: yeah, but there aren’t any countries going uphill
Categories: Finance
No Comments »
« Making a Bootable Linux CD | Home | Wachovia is up 60% »
