Show-me Account Talk

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http://www.thestreet.com/s/failed-m...ooglefi&cm_ven=GOOGLEFI&cm_cat=FREE&cm_ite=NA


Early second quarter reports showed that Columbian suffered a $5.2 million loss wiping out all of its first quarter profits. By June 30, nonperforming loans had more than doubled since the previous quarter, growing to $92.1 million, representing 153% of core capital and loan loss reserves compared to first quarter nonperformers of $43.5 million, or 72% of core capital and reserves.
Columbian had just been added to the FDIC's "watch list" in May and was not part of the original 90 troubled institutions that the agency had indicated was on the list, said Barr.
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Took three months from watch list to failure.:eek:
 
Looks like I will have to endure some more pain in SLV. I believe it will bounce again as it is creating a short term double bottom. The dollar is creating a short term double top.

S&P could be setting up for a run to the lows. If it does I will be a buyer.
 
Show-me said:
Looks like I will have to endure some more pain in SLV. I believe it will bounce again as it is creating a short term double bottom. The dollar is creating a short term double top.

S&P could be setting up for a run to the lows. If it does I will be a buyer.
Click to expand...


I think everyone will be a buyer if we approach the lows so I expect us to not approach the lows (intermediate term that is!)...but perhaps 1220-1240. Come on Sept. 1st! And come on Hurricanes!

Latest GHM run shows 165 mph hurricane heading to LA or upper TX coast on 8/31...that is on a Sunday. The ECMWF keeps this system further South into Mexico. However, the same model produces another hurricane, which hits NRN FLORIDA 9/2-9/3...then emerges back into the Gulf 9/4-9/6. We'll see!
 
Selfish of me I know, my sister just finally got her roof repaired this spring from 04 hurricane. Would rather this year spare n. Florida, esp. Panhandle. Hope hope. I'm waiting for the S&P lows, they'll be back regardless, sooner or later. Hurricane's not the only thing in the wings that'll drive us back down.
 
Corepuncher said:
Come on Sept. 1st! And come on Hurricanes!

Latest GHM run shows 165 mph hurricane heading to LA or upper TX coast on 8/31...that is on a Sunday. The ECMWF keeps this system further South into Mexico. However, the same model produces another hurricane, which hits NRN FLORIDA 9/2-9/3...then emerges back into the Gulf 9/4-9/6. We'll see!
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NOOOOOOO! Please. Gulf Coast is still recovering from Kat-Rita of 2005. Katrina was 8/29...Gustav 8/31 almost 3 years to the day??? OMG!:eek:
 
UNG is on a run because of Gustav. Get some now? SLV is looking good even with the higher USD.
 
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Show-me said:
UNG is on a run because of Gustav. Get some now?
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On Fast Money yesterday, they talked about that natural gas inventories are high, and that's what is keeping it down, but they said that the Farmer's Almanac is predicting a colder than average winter across the country so the short-term negatives may be outweighed by the intermediate to long-term opportunity.

Bottom line, it sounds like if you don't mind some short-term pain or uncertainty, you should do well several months down the road.
 
Don't beleive the almanac...Someone's spouting negative thoughts just to drive prices up...now say after me....we are going to have a mild and moderate winter...we are going to have a mild and moderate winter..we are going to have a mild and moderate winter...:D:D:D

FS
 
Here are some key quotes on the FDIC report.

http://www.bloomberg.com/apps/news?pid=20601087&sid=afbiu39eNA4E&refer=home

IndyMac's failure will cost the U.S. deposit insurance fund about $8.9 billion, exceeding a $4 billion to $8 billion estimate, said Diane Ellis, the associate director of financial- risk management. The FDIC discovered additional insured deposits and had time to value the assets, Ellis said.
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Ouch, that's going to leave a mark.:embarrest:

Second-quarter earnings fell from $19.3 billion in the previous quarter, driven by higher provisions for loan losses, the FDIC said. It was the second-lowest net income reported since the fourth quarter of 1991 behind the $600 million reported in the fourth quarter of 2007, the agency said.

``The results were pretty dismal, and we don't see a return to the high earnings levels of previous years any time soon,'' Bair said.
Funds set aside by banks to cover loan losses more than quadrupled to $50.2 billion from $11.4 billion in the year- earlier quarter.

Loans 90 days or more overdue, deemed troubled by the FDIC, jumped 20 percent to $162 billion from $136 billion in the first quarter, the FDIC said. Real-estate loans accounted for almost 90 percent of the rise in the past three quarters, the agency said.

The deposit insurance fund fell 14 percent to $45.2 billion and the reserve ratio, or balance divided by insured deposits, was 1.01 percent. The FDIC is required to shore up the fund when the ratio falls below 1.15 percent.
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Wait for the new batch or ARM's start to reset after the election. :blink:

Lenders on the ``problem list'' had assets of $78.3 billion at the end of the second quarter, triple the $26.3 billion in the first quarter, the agency said. The FDIC said IndyMac's assets represented $32 billion of the increase.
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I guess you can call that a glimmer of good news.:nuts:
 
Checked out SLV but opted for FRO. Used to be in the Coast Guard and know a little about ships. Today is last day to get in for $3.00 divi.

Dave
 
AP
3 top Fannie Mae executives to leave company
Wednesday August 27, 5:08 pm ET Mortgage finance company Fannie Mae says 3 top executives leaving in management shake-up
WASHINGTON (AP) -- Fannie Mae says three top executives are leaving as the mortgage finance company aims to cope with mounting losses from the mortgage crisis.
Fannie Mae Chief Financial Officer Stephen Swad is leaving to "pursue other opportunities" in the private equity business. He is being replaced by David C. Hisey, formerly the company's senior vice president and controller.
Fannie named Peter Niculescu as chief business officer, replacing the retiring Robert J. Levin. Michael Shaw is taking over as chief risk officer for Enrico Dallavecchia, who is also leaving the company.
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LOL, shutting the door to the chicken coop after the fox ate all the chickens. And, then letting the fox go free.
 
I know a dentist that has been tracking it down since $14.00 back in 5/04. And we'll persevere and keep on nibbling as long as it lives. This is one of 46 individual stocks he has in his portfolio - so if you buy you will not be alone in the dark. Just thought you'd like to know that - not that it means anything. Every now and then he'll ask me why am I still in Ford? The most difficult time to buy is when no one else dares - and so we persevere on the lonely trail to oblivion and keep adding to the position at ever cheaper prices - this stock will probably go to one of his kids someday. Do you think the work horse F150 has seen better days - I see a lot of them in North Florida.
 
Birchtree said:
Do you think the work horse F150 has seen better days - I see a lot of them in North Florida.
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Ford is so ingrained into the heritage of our society I can't imagine it going away anytime soon. Here in the South everyone has a truck and so many of them are Fords. At these prices I'd buy some stock for the long term too.
 
Birchtree said:
I know a dentist that has been tracking it down since $14.00 back in 5/04. And we'll persevere and keep on nibbling as long as it lives. This is one of 46 individual stocks he has in his portfolio - so if you buy you will not be alone in the dark. Just thought you'd like to know that - not that it means anything. Every now and then he'll ask me why am I still in Ford? The most difficult time to buy is when no one else dares - and so we persevere on the lonely trail to oblivion and keep adding to the position at ever cheaper prices - this stock will probably go to one of his kids someday. Do you think the work horse F150 has seen better days - I see a lot of them in North Florida.
Click to expand...


It is a bargain for sure and I am itching to own some.
 
Placed a order for SDS after hours for the Trad. IRA. Two up days in a row in a bear market and historically tomorrow is a bad day. That with a hurricane on the way. Roll the dice.

We will see if it gets filled. I low balled it. @ $65.44, I can raise the bid after dinner.
 
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