justbizness45's Account Talk

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It would be a good buy as a speculation if you have some extra spill money - I personally don't own that one but I got plenty of similar ones.
 
I'm back in G for the duration of the month. It remains to be seen if this was a good decision or not. I think down is the direction that will follow todays action. I'm just not sure when. Currently +1.04% for the month. :o No IFTs until Oct. Good luck to those still invested.......JB45
 
Those of you in the know, please tell me our tax dollars are not going to fund dividends listed in below article:

Fannie to Pay Third-Quarter Preferred Stock Dividends (Update1)

By Romaine Bostick
Sept. 10 (Bloomberg) -- Fannie Mae, the mortgage-finance company seized by the U.S. government, will be permitted to pay its third-quarter preferred stock dividends.
The dividends were declared prior to Fannie being placed in conservatorship, ``and are therefore an outstanding obligation to be honored,'' the Washington-based company said in a statement.
The Treasury Department and Federal Housing Finance Agency on Sept. 7 put Fannie and Freddie Mac back under federal control for the first time in about 40 years after $14.9 billion in net losses threatened to further disrupt the housing market. All dividends were eliminated and the Treasury said it would invest as much as $200 billion in new preferred stock as needed to keep the companies solvent.
The common and preferred stocks lost the majority of their market value the day after the government's announcement, with Fannie falling 90 percent to 73 cents in New York Stock Exchange composite trading, and Freddie dropping 83 percent to 88 cents.
Fannie's $7 billion of 8.25 percent perpetual preferred shares have tumbled 79 percent this week to $2.91. Freddie's $1.1 billion of 5.57 percent preferred stock sank 83 percent to $1.55.

Is this a ploy to keep the foriegn investors happy??
 
The money will probably first come from seized Real Estate and Job Cuts. Prices will undoubted go up as the need for money becomes more urgent.

But I agree with L2R - in that the Taxpayers overall will take the blunt of hit - and it will likely be felt by all.

To question 2. I'm probably in agreement with L2R - but instead of it being a "ploy" - I think it's much more likely that the US is humbly being forced to PAY UP - and PAY NOW.
 
I will be gone until Monday night. Chasing the mighty Wapiti.

So Lehmans is the weekend Fed project. I had thought it might be WaMu........They could still get the ax also. The Friday bank closure has not been named yet. Last weekend it was the Fran/Fed show and most people missed the 11th bank failure, Nevada State. Have a great weekend and I will be back Monday.

Sitting in G. +.01%. +1.08 MTD. No IFTs:notrust:
 
justbizness45 said:
I will be gone until Monday night. Chasing the mighty Wapiti.
Click to expand...

Roosevelt or Rocky Mtn? Westside or Eastside? Goodlluck, let us know how you do, PLEASE don't shoot at sound if you're on the westside, a guy from my outfit just nearly got killed by a bowhunter this week soundshooting, even tho fed was in a working group of 4-6, wearing orange and group wasn't making any particular effort to be quiet. Arrow would have taken his knee if a log 2ft away hadn't caught the arrow. Guy ran away when they shouted at him, never came out of the wood when they found and talked to his hunting partners by their rig.
 
alevin said:
Roosevelt or Rocky Mtn? Westside or Eastside? Goodlluck, let us know how you do, PLEASE don't shoot at sound if you're on the westside, a guy from my outfit just nearly got killed by a bowhunter this week soundshooting, even tho fed was in a working group of 4-6, wearing orange and group wasn't making any particular effort to be quiet. Arrow would have taken his knee if a log 2ft away hadn't caught the arrow. Guy ran away when they shouted at him, never came out of the wood when they found and talked to his hunting partners by their rig.
Click to expand...

I will be in western WA, down by Raymond on the coast.
People like that are the reason I quit rifle hunting.:mad:
Anyone who shoots without a clear target is an idiot for two reasons:
1) You could kill or maime someone. as you indicated almost happened.
2) Arrows don't penetrate brush or grass like a bullet and there is zero probability for a humane kill.

No one should bow hunt or be allowed to bow hunt without going through a bow hunter hunter safety class and you never draw a bow without a target. Take care and I'm outa here JB45
 
I'm back a little early from the coast. Looks like the weather made the game as squirrelly as this market. I leave for a couple of days and Lehmans goes away and Merrill gets taken over... This market needs a hero to punch out all the crooks that have trashed our economy...

Realistically this market needs is a real flush and as of my writing the July lows are still holding. I would have liked to have seen that support broken and a real buyin opportunity. It appears there is still not enough fear. Glad I am still holding in G. This market still needs to go down before it can heal.
 
NEW YORK (Reuters) - Citigroup (NYSE:C - News), the top U.S. bank by assets, sought to reassure investors that its exposure to bankrupt investment bank Lehman Brothers Holdings Inc would not excessively damage its capital position.

Citigroup CEO Vikram Pandit said in a memo to employees on Monday that the company's financial strength makes it a favored counterparty and that its balance sheet was in excess of 2 trillion dollars.

Citi has raised nearly $50 billion since the beginning of the year by reducing assets and deleveraging, Chief Financial Officer Gary Crittenden said in remarks posted on the bank's website.
Fox-Pitt Kelton analyst David Trone said on Monday that Citi would take an additional hit $20.8 billion from problem asset write-downs, losses and building its credit reserves, but said the bank may avoid raising new capital to deal with the write-downs if it spreads the pain over four quarters.
Trone maintained his 2008 loss estimate of $1.36 a share and his 2009 profit forecast of $2.14 a share.
In its bankruptcy filing on Monday, Lehman (NYSE:LEH - News) listed 30 of its largest creditors and said Citi's Hong Kong affiliate had made a $275 million bank loan to Lehman.
Crittenden said the bank's Tier-1 capital ratio stood at 8.7 percent, "well in excess of the 'well-capitalized' regulatory minimums," and would improve in the fourth quarter when Cutu finalizes the sale of its German retail franchise.
Global markets tumbled on Lehman's bankruptcy and as reports emerged that top U.S. insurer American International Group Inc (NYSE:AIG - News) was seeking a capital infusion. Citi shares were down more than 10 percent at midday.
"We have extended the maturity profile of our Citigroup Inc senior unsecured borrowings to a weighted average maturity of seven years," Crittenden said, adding that the bank had cut its commercial paper program to $31.9 billion and extended its maturity to 54 days.
"Our reserve of cash and highly liquid securities, which stood at $65 billion at the end of the second quarter and is essentially the same today, is up from $24 billion at year-end 2007," he said.
As of the second quarter, Citigroup said it had a deposit base of about $800 billion, diversified across products and regions. More than two-thirds of the total was outside the United States, it said. (Reporting by Christopher Kaufman; Editing by Steve Orlofsky and John Wallace)
Click to expand...

Smoke and mirrors or are the being unfront with their current situation?
Looks like they were into Lehmans pretty deep.
 
XL-entLady said:
Welcome back, JB45. Does that mean the hunt was successful? Elk steak, elk stew, elk chili? Yum-m-m!

Lady
Click to expand...

No, if I want elk steak for my birthday I'm going to have to buy it at Farmer John's. Conditions were as nasty as the market, hot, dry, clouds of biting bugs and too many hunters. To top it off the lumber company property owners closed the forest to camping. :mad:
 
Congrats to everyone that made money today. Feels like a View attachment 4700 rally to me. IMHO take any profits and run. I think I will stay in my happy G place. Especially since I have no IFTs left.:toung: Good luck tomorrow for those invested in stocks.

Posted this on Sugar's thread also, but of the 117 banks in trouble, if 13% of them fail (that's the average) the FDIC won't have enough money and will need to borrow from treasury.

http://biz.yahoo.com/ap/080916/bank_deposits_safety.html

MTD +1.14%. +.01% today
 
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