BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Cramer on BloggingStocks: This market knows something we don't ]]>http://www.bloggingstocks.com/2009/07/02/cramer-on-bloggingstocks-this-market-knows-something-we-dont/http://www.bloggingstocks.com/2009/07/02/cramer-on-bloggingstocks-this-market-knows-something-we-dont/http://www.bloggingstocks.com/2009/07/02/cramer-on-bloggingstocks-this-market-knows-something-we-dont/#commentsFiled under: , , , , , ,

TheStreet.com's Jim Cramer says the rally here seems too strong for the news and data we're getting.

Just as when Doug Kass says, "Tell me something I don't know," I think this market knows something we don't know, either about a turn in commercial real estate to rival that of residential -- the real estate investment trusts are holding in well -- or a second stimulus plan, a real one that will put more people to work.

The employment numbers aren't good enough to merit this kind of rally, and we know the layoffs for June were preposterously high. We know that the auto build will be slightly better than expected a few months ago, but it's still pathetic and the auto idlings are about to start.

Continue reading Cramer on BloggingStocks: This market knows something we don't

Cramer on BloggingStocks: This market knows something we don't originally appeared on BloggingStocks on Thu, 02 Jul 2009 10:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bacfcxfeaturedjim cramerJimCramerjpmunpwfcThu, 02 Jul 2009 10:10:00 EST<![CDATA[First he sold toxic loans. Now he tries to get rich selling the foreclosures]]>http://www.bloggingstocks.com/2009/07/01/first-he-sold-toxic-loans-now-he-tries-to-get-rich-selling-the/http://www.bloggingstocks.com/2009/07/01/first-he-sold-toxic-loans-now-he-tries-to-get-rich-selling-the/http://www.bloggingstocks.com/2009/07/01/first-he-sold-toxic-loans-now-he-tries-to-get-rich-selling-the/#commentsFiled under:

In case you needed another reason to hate Countrywide Financial (in which case I can't help you with further proof that we did in fact land on the Moon), here's a good one: Former executive managing director Andrew "Drew" Gissinger III has started a new firm in San Diego, the boom gone bust city where he once played in the National Football League.

His new firm will serve as a real estate broker for bank-owned homes: some of which will doubtless be bank-owned because of bad loans that were made under Mr. Gissinger's watch.


Continue reading First he sold toxic loans. Now he tries to get rich selling the foreclosures

First he sold toxic loans. Now he tries to get rich selling the foreclosures originally appeared on BloggingStocks on Wed, 01 Jul 2009 14:20:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Andrew GissingerAndrewGissingerBACBank of AmericaBankOfAmericaCountrywide FinancialinthenewsWed, 01 Jul 2009 14:20:00 EST<![CDATA[Is Wall Street influencing Obama's regulations?]]>http://www.bloggingstocks.com/2009/07/01/is-wall-street-influencing-obamas-regulations/http://www.bloggingstocks.com/2009/07/01/is-wall-street-influencing-obamas-regulations/http://www.bloggingstocks.com/2009/07/01/is-wall-street-influencing-obamas-regulations/#commentsFiled under: , , , , ,

In a word: yes.

Despite all the talk about regulating these speculative investment vehicles, "Obama's financial overhaul plan included no big surprises or threats to the lucrative, secretive industry," writes The Wall Street Journal.

The name of the game is lobbying, which is easily funded by the $1.3 trillion dollar industry. Even after numerous Ponzi schemes and frauds have recently been exposed, the U.S. government has failed at regulating hedge funds, the most speculative area in finance, in part due to the industry's lobbying efforts.

Continue reading Is Wall Street influencing Obama's regulations?

Is Wall Street influencing Obama's regulations? originally appeared on BloggingStocks on Wed, 01 Jul 2009 13:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BACBank of AmericaCitigroupfeaturedFedfinancial reformFINRAhedge fundsinthenewsJPMJPMorganlobbyingObamaRobert PicardSECWed, 01 Jul 2009 13:00:00 EST<![CDATA[Cramer on BloggingStocks: The post-mark-up could sting industrials ]]>http://www.bloggingstocks.com/2009/07/01/cramer-on-bloggingstocks-the-post-mark-up-could-sting-industria/http://www.bloggingstocks.com/2009/07/01/cramer-on-bloggingstocks-the-post-mark-up-could-sting-industria/http://www.bloggingstocks.com/2009/07/01/cramer-on-bloggingstocks-the-post-mark-up-could-sting-industria/#commentsFiled under: , , , , , , , , , , ,

TheStreet.com's Jim Cramer says stock prices may roll back, but techs and financials should be fine.

The pain of the aftermath of mark-ups never goes away. We knew what was in store for us, as the mark-up folks don't like to play on the last day, especially with the newly vigilant Securities and Exchange Commission. I have to believe that this SEC will now become more interested in "the tapes," which would show clients asking brokers to take stocks up as much as they can, something that we know is against the law.

What comes up from mark-up must come down, and the most important "come-downs" should be in the industrials, because we have the least visibility in them. I do not believe the techs have as much to worry about, nor the banks, because both have excellent earnings prospects for the coming quarter. Why sell Apple (NASDAQ: AAPL) (Cramer's Take) here? Why sell Microsoft (NASDAQ: MSFT) (Cramer's Take)? And why dump Wells Fargo (NYSE: WFC) (Cramer's Take) or Bank of America (NYSE: BAC) (Cramer's Take) or JPMorgan Chase (NYSE: JPM) (Cramer's Take) when those have the best possibilities of good news ahead? I can see locking in some Goldman Sachs (NYSE: GS) (Cramer's Take) gains, but that's going to be the best quarter of all.

Continue reading Cramer on BloggingStocks: The post-mark-up could sting industrials

Cramer on BloggingStocks: The post-mark-up could sting industrials originally appeared on BloggingStocks on Wed, 01 Jul 2009 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>aaplbaccvxemrfeaturedgisgshonjim cramerJimCramerjpmmsftoxypcarpepwfcWed, 01 Jul 2009 10:00:00 EST<![CDATA[Bank of America accused of ripping off consumers]]>http://www.bloggingstocks.com/2009/06/30/bank-of-america-accused-of-ripping-off-consumers/http://www.bloggingstocks.com/2009/06/30/bank-of-america-accused-of-ripping-off-consumers/http://www.bloggingstocks.com/2009/06/30/bank-of-america-accused-of-ripping-off-consumers/#commentsFiled under:

We all know that Bank of America (NYSE: BAC) is a lousy, incompetently run outhouse of a financial institution. All you have to do is look at the welfare it's received, its stock price, and the fact that its CEO still has a job that doesn't involve cleaning out public bathrooms in mental hospitals.

But now there are new allegations -- on top of many similar old allegations -- that in addition to losing money for its investors, Bank of America also rips off consumers.

Continue reading Bank of America accused of ripping off consumers

Bank of America accused of ripping off consumers originally appeared on BloggingStocks on Tue, 30 Jun 2009 17:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BACBank of AmericaBankOfAmericaTue, 30 Jun 2009 17:40:00 EST<![CDATA[Cramer on BloggingStocks: Bears, we miss you ]]>http://www.bloggingstocks.com/2009/06/29/cramer-on-bloggingstocks-bears-we-miss-you/http://www.bloggingstocks.com/2009/06/29/cramer-on-bloggingstocks-bears-we-miss-you/http://www.bloggingstocks.com/2009/06/29/cramer-on-bloggingstocks-bears-we-miss-you/#commentsFiled under: , , , ,

TheStreet.com's Jim Cramer says that to go higher from here, we need some bearish bets that are currently MIA.

We need some doom-and-gloomers to go higher here. I didn't hear any last week and it is worrisome. Without some avowed bears, we could be stalled here until we see some earnings even though seasonally this is a terrific time.

I say that because as I looked for things to talk about on Friday's show, I was hoping to find some stocks where there have been big negative bets made and really couldn't. Natural gas had been thick with bears and those stocks are still going down, but I don't see a lot of bearish bets being made. We had some in retail, but they seem to have dried up since Bed Bath & Beyond (NASDAQ: BBBY) (Cramer's Take). Tech? Boy, I don't see any bears at all going into what should be a remarkably negative period, at least historically.

Continue reading Cramer on BloggingStocks: Bears, we miss you

Cramer on BloggingStocks: Bears, we miss you originally appeared on BloggingStocks on Mon, 29 Jun 2009 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bacbbbyfeaturedjim cramerJimCramerwfcMon, 29 Jun 2009 10:00:00 EST<![CDATA[Cramer on BloggingStocks: More stimulus, please! ]]>http://www.bloggingstocks.com/2009/06/25/cramer-on-bloggingstocks-more-stimulus-please/http://www.bloggingstocks.com/2009/06/25/cramer-on-bloggingstocks-more-stimulus-please/http://www.bloggingstocks.com/2009/06/25/cramer-on-bloggingstocks-more-stimulus-please/#commentsFiled under: , , , , ,

TheStreet.com's Jim Cramer says the jobless number shows the folly of thinking we can get through on what we have.

Tough data point, the employment number. Lagging. But when you see it, the number doesn't feel like it's lagging. In fact, it is thesis-busting, as in, "We aren't getting better, let's stop fooling ourselves." It just feels like, "Come on, we know the truth, we need to have a second stimulus plan."

That will be the battleground for the second half of this year: further budget-busting vs. putting more people to work, because we sure aren't doing a great job of putting them to work.

Continue reading Cramer on BloggingStocks: More stimulus, please!

Cramer on BloggingStocks: More stimulus, please! originally appeared on BloggingStocks on Thu, 25 Jun 2009 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>baccfeaturedjim cramerJimCramerjobsrecessionstimulusThu, 25 Jun 2009 10:00:00 EST<![CDATA[Before the bell: Futures lower ahead of employment, GDP data]]>http://www.bloggingstocks.com/2009/06/25/before-the-bell-futures-lower-ahead-of-employment-gdp-data/http://www.bloggingstocks.com/2009/06/25/before-the-bell-futures-lower-ahead-of-employment-gdp-data/http://www.bloggingstocks.com/2009/06/25/before-the-bell-futures-lower-ahead-of-employment-gdp-data/#commentsFiled under: , , , ,

U.S. stock futures edged lower Thursday morning, as markets still looked for direction following the Federal Reserve's statement Wednesday that was somewhat mixed. This morning, investors await jobs and GDP data, as well as Fed chairman Ben Bernanke's testimony over the Bank of America (BAC)-Merrill Lynch deal.

Bernanke will testify before the House Committee on Oversight and Government Reform Thursday to face questions over his role was in the Bank of America (BAC) purchase of Merrill Lynch. Documents uncovered by The Wall Street Journal indicate he may have been more involved than he admitted, prompting some membersto say that the Fed "engaged in a cover-up.

Continue reading Before the bell: Futures lower ahead of employment, GDP data

Before the bell: Futures lower ahead of employment, GDP data originally appeared on BloggingStocks on Thu, 25 Jun 2009 07:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Thu, 25 Jun 2009 07:45:00 EST<![CDATA[Bailed-out CEOs still taking corporate jets, thank you very much]]>http://www.bloggingstocks.com/2009/06/19/bailed-out-ceos-still-taking-corporate-jets-thank-you-very-much/http://www.bloggingstocks.com/2009/06/19/bailed-out-ceos-still-taking-corporate-jets-thank-you-very-much/http://www.bloggingstocks.com/2009/06/19/bailed-out-ceos-still-taking-corporate-jets-thank-you-very-much/#commentsFiled under:

What's that? You think that just because you're on welfare, you shouldn't be allowed to charter a jet for a personal vacation? You're un-American!

The Wall Street Journal reports (subscription required) that "Flight records show numerous occasions when banks receiving federal money have flown their planes to destinations near resorts or executives' vacation homes, including spots in Europe, Mexico, the Caribbean, south Florida and Aspen, Colo. In some cases, it's clear that bank executives were traveling for personal reasons; for other flights, many of which were over weekends or holidays, the passengers and purpose couldn't be established."

Bank of America (NYSE: BAC) was one of the "Let's take taxpayer money and book flights to Aspen." "We are implementing a new policy in 2009, under which personal use of aircraft will not be permitted," a spokesperson told the Journal.

Bailed-out CEOs still taking corporate jets, thank you very much originally appeared on BloggingStocks on Fri, 19 Jun 2009 15:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BACBank of AmericaBankOfAmericainthenewsKen LewisKenLewisFri, 19 Jun 2009 15:00:00 EST<![CDATA[Closing Bell: A win that felt too quiet (BRK-A, BAC, CCL, SNDK, SLM, WLP)]]>http://www.bloggingstocks.com/2009/06/18/closing-bell-a-win-that-felt-too-quiet-brk-a-bac-ccl-sndk/http://www.bloggingstocks.com/2009/06/18/closing-bell-a-win-that-felt-too-quiet-brk-a-bac-ccl-sndk/http://www.bloggingstocks.com/2009/06/18/closing-bell-a-win-that-felt-too-quiet-brk-a-bac-ccl-sndk/#commentsFiled under: , , , ,

Today was one of those low news flow days where you never had any real solid feel for where the market would close until the very end of the session. We have seen too many rallies dashed by closing imbalances at the end of the day when there was thin volume.

Some Philly Fed data helped hold the market, and that was on the heels of the largest drop in continuing jobless claims since 2001. Some of the agriculture stocks staged a small comeback after yesterday's huge losses.

Here were the unofficial closing bell levels:

Dow 8,554.77 +57.59 (0.68%)
S&P 500 918.34 +7.63 (0.84%)
Nasdaq 1,807.72 -0.34 (-0.02%)

Top Analyst Upgrades
Top Analyst Downgrades

Continue reading Closing Bell: A win that felt too quiet (BRK-A, BAC, CCL, SNDK, SLM, WLP)

Closing Bell: A win that felt too quiet (BRK-A, BAC, CCL, SNDK, SLM, WLP) originally appeared on BloggingStocks on Thu, 18 Jun 2009 16:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>carnivalcruiseshipsdepartment of educationDepartmentOfEducationsandiskWLPThu, 18 Jun 2009 16:00:00 EST<![CDATA[Bank of America accused of shelling out big bonuses to bankers]]>http://www.bloggingstocks.com/2009/06/18/bank-of-america-accused-of-shelling-out-big-bonuses-to-bankers/http://www.bloggingstocks.com/2009/06/18/bank-of-america-accused-of-shelling-out-big-bonuses-to-bankers/http://www.bloggingstocks.com/2009/06/18/bank-of-america-accused-of-shelling-out-big-bonuses-to-bankers/#commentsFiled under: , , ,

A report today in The New York Post reveals that bailed-out Bank of America (NYSE: BAC) is still doling out millions in bonuses to attract and retain top banking talent. Bank of America is catching heat over the bonus payouts, since it hasn't yet received federal clearance to repay its $45 billion in TARP loans.

Bank of America allegedly shelled out $15 million over two years to keep Fares Noujaim, an alumnus of both Bear Stearns and Merrill Lynch, who now serves as the company's vice chairman of investment banking. Harry McMahon is named as another banker who's been enticed to stay with handsome bonuses.

Continue reading Bank of America accused of shelling out big bonuses to bankers

Bank of America accused of shelling out big bonuses to bankers originally appeared on BloggingStocks on Thu, 18 Jun 2009 14:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bailoutBank of AmericaBarney FrankbonusFares NoujaimfeaturedHarry McMahoninthenewsKenneth LewisoptionsTARPThu, 18 Jun 2009 14:30:00 EST<![CDATA[Closing Bell: Rally reality check (AMGN, BAC, SVNT, WMT, YHOO)]]>http://www.bloggingstocks.com/2009/06/15/closing-bell-rally-reality-check-amgn-bac-svnt-wmt-yhoo/http://www.bloggingstocks.com/2009/06/15/closing-bell-rally-reality-check-amgn-bac-svnt-wmt-yhoo/http://www.bloggingstocks.com/2009/06/15/closing-bell-rally-reality-check-amgn-bac-svnt-wmt-yhoo/#commentsFiled under: , , ,

Today was a negative market from the start of trading, and the economic data just confirmed the selling, as hunting for green shoots looked more like hunting for four-leaf clovers. It seems that those analysts and economists saying that the market has risen too far and too fast are getting some more ears than in recent weeks.

The housing data showed a dip after two months of rising data, and the New York Empire Manufacturing data came in weaker than expected. Even the Iran turmoil after the election failed to rally oil. Here were today's unofficial closing bell levels:

Dow 8,613.04 -186.22 (-2.12%)
S&P 500 923.81 -22.40 (-2.37%)
Nasdaq 1,816.38 -42.42 (-2.28%)

Top 10 Analyst Calls

Continue reading Closing Bell: Rally reality check (AMGN, BAC, SVNT, WMT, YHOO)

Closing Bell: Rally reality check (AMGN, BAC, SVNT, WMT, YHOO) originally appeared on BloggingStocks on Mon, 15 Jun 2009 16:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dick boveDickBoveiransavientSVNTMon, 15 Jun 2009 16:00:00 EST<![CDATA[Market Close: Confidence flat, gas up]]>http://www.bloggingstocks.com/2009/06/12/market-close-confidence-flat-gas-up/http://www.bloggingstocks.com/2009/06/12/market-close-confidence-flat-gas-up/http://www.bloggingstocks.com/2009/06/12/market-close-confidence-flat-gas-up/#commentsFiled under: , , , , ,

The market spent the day as it has many a Friday in the summer: slowing going no where.

The University of Michigan/Reuters consumer sentiment index showed a very modest increase in June up to 69, from 68.7 in May. The same survey showed that expectations for six months from now actually dropped.

Oil and gas prices still dominated the headlines. Oil still hovers around $72 and the average price of gas rose for the 45th consecutive day to $2.63. The has to rattle consumers who have precious little discretionary income as it is.

Continue reading Market Close: Confidence flat, gas up

Market Close: Confidence flat, gas up originally appeared on BloggingStocks on Fri, 12 Jun 2009 16:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BACconsumer sentimentETFCgas pricesken lewisuniversity of michiganFri, 12 Jun 2009 16:00:00 EST<![CDATA[How do hedge funds differ from mutual funds?]]>http://www.bloggingstocks.com/2009/06/12/how-do-hedge-funds-differ-from-mutual-funds/http://www.bloggingstocks.com/2009/06/12/how-do-hedge-funds-differ-from-mutual-funds/http://www.bloggingstocks.com/2009/06/12/how-do-hedge-funds-differ-from-mutual-funds/#commentsFiled under: , , , , , , ,

Has your broker repeatedly sold you on the "safe" investment vehicle, the mutual fund? Investing in a wide variety of prominent companies, with solid, long-term track records, mutual funds have been an easy-to-understand and popular investment choice for decades.

Mutual funds are hugely diversified, holding large stakes in recognizable names such as Google (NASDAQ: GOOG), Citigroup (NYSE: C), Walmart (NYSE: WMT), Starbucks (NASDAQ: SBUX), General Electric (NYSE: GE), Bank of America (NYSE: BAC), and Fannie Mae (NYSE: FNM).

Continue reading How do hedge funds differ from mutual funds?

How do hedge funds differ from mutual funds? originally appeared on BloggingStocks on Fri, 12 Jun 2009 13:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>alternative investmentsEric Jacksonfeaturedhedge fundsHedgeFundBlogger.cominvestment fundsmutual fundsRichard Wilsonshort sellingFri, 12 Jun 2009 13:00:00 EST<![CDATA[Cramer on BloggingStocks: Manipulation well done ]]>http://www.bloggingstocks.com/2009/06/12/cramer-on-bloggingstocks-manipulation-well-done/http://www.bloggingstocks.com/2009/06/12/cramer-on-bloggingstocks-manipulation-well-done/http://www.bloggingstocks.com/2009/06/12/cramer-on-bloggingstocks-manipulation-well-done/#commentsFiled under: , , ,

TheStreet.com's Jim Cramer says these markets are easy to manipulate, a lesson learned over the last two years.

Did the bears really have nothing up their sleeves with the last-minute pushdown at the end of Thursday's session? No big downgrades? No bank seizures? No stories about how Citigroup's (NYSE: C) (Cramer's Take) getting close to failure again?

They didn't have the bond market story, for certain. Bonds were a buy. Oil wasn't out of control, just up enough to drive stocks up again. Bank of America (NYSE: BAC) (Cramer's Take) never gave up the ghost -- and I know I wasn't going to let it give up the ghost on my TV show, "Mad Money."

Continue reading Cramer on BloggingStocks: Manipulation well done

Cramer on BloggingStocks: Manipulation well done originally appeared on BloggingStocks on Fri, 12 Jun 2009 09:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bacccitigroupfeaturedjim cramerJimCramerFri, 12 Jun 2009 09:40:00 EST<![CDATA[Closing Bell: When 2009 highs are under-covered (BAC, ETFC, MYL, PFE, QCOM, STAA)]]>http://www.bloggingstocks.com/2009/06/11/closing-bell-when-2009-highs-are-under-covered-bac-etfc-myl/http://www.bloggingstocks.com/2009/06/11/closing-bell-when-2009-highs-are-under-covered-bac-etfc-myl/http://www.bloggingstocks.com/2009/06/11/closing-bell-when-2009-highs-are-under-covered-bac-etfc-myl/#commentsFiled under: , , ,

Today marked intra-day 2009 for the S&P 500 and NASDAQ, although these might not have closed on the highs for the year. Also that won't be known until the formal 4:30-ish closing reset adjustment. This came on the heels of slightly less-bad jobs data and on some confusing retail gains. Unlike earlier Treasury auctions, today's 30-year Treasury Bond auction was a help to the markets as yields reached a high enough level that investors jumped in. Here are today's unofficial closing bell levels:

Dow 8,770.92 +31.90 (0.37%)
S&P 500 944.88 +5.73 (0.61%)
Nasdaq 1,862.37 +9.29 (0.50%)

Top Analyst Upgrades
Top Analyst Downgrades

Continue reading Closing Bell: When 2009 highs are under-covered (BAC, ETFC, MYL, PFE, QCOM, STAA)

Closing Bell: When 2009 highs are under-covered (BAC, ETFC, MYL, PFE, QCOM, STAA) originally appeared on BloggingStocks on Thu, 11 Jun 2009 16:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Citadeleye injectionEyeInjectiongeneric drugsGenericDrugsMYLmylanSTAAThu, 11 Jun 2009 16:10:00 EST<![CDATA[Bank of America says it was pressured into Merrill Lynch deal]]>http://www.bloggingstocks.com/2009/06/11/bank-of-america-says-it-was-pressured-into-merrill-lynch-deal/http://www.bloggingstocks.com/2009/06/11/bank-of-america-says-it-was-pressured-into-merrill-lynch-deal/http://www.bloggingstocks.com/2009/06/11/bank-of-america-says-it-was-pressured-into-merrill-lynch-deal/#commentsFiled under: , ,

Bank of America (NYSE: BA) CEO Ken Lewis threatened to use a "material adverse change" (MAC) clause to kill the agreement to buy Merrill Lynch because he wanted to get a lower price, according to the Financial Times. New e-mails reveal how he was then pressured to proceed with the deal.

A House committee on oversight and government reform is investigating whether or not undue pressure was put on Lewis in order to complete the deal to purchase Merrill Lynch. Reportedly, the Federal Reserve would not comply with the committee's request for documentation and e-mails regarding the accusations, but the committee issued a subpoena to the central bank on Tuesday. Lewis is set to testify about the matter today at a congressional hearing.

Continue reading Bank of America says it was pressured into Merrill Lynch deal

Bank of America says it was pressured into Merrill Lynch deal originally appeared on BloggingStocks on Thu, 11 Jun 2009 09:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>accusationsBACbank of americaBankOfAmericaBen BernankeBenBernankefeaturedfederal reserveFederalReservegovernmentgovernment controlGovernmentControlHenry PaulsonHenryPaulsonKen LewisKenLewisTARPThu, 11 Jun 2009 09:45:00 EST<![CDATA[Cramer on BloggingStocks: The Chuck Prince Citi board has got to go ]]>http://www.bloggingstocks.com/2009/06/09/cramer-on-bloggingstocks-the-chuck-prince-citi-board-has-got-to/http://www.bloggingstocks.com/2009/06/09/cramer-on-bloggingstocks-the-chuck-prince-citi-board-has-got-to/http://www.bloggingstocks.com/2009/06/09/cramer-on-bloggingstocks-the-chuck-prince-citi-board-has-got-to/#commentsFiled under: , , , ,

TheStreet.com's Jim Cramer says the government will want to shed the people who presided over the huge losses.

Sometimes the best course is simply to ask what the government wants. In the case of Citigroup (NYSE: C) (Cramer's Take) it is pretty obvious that the government wants anyone responsible for the previous travesty of corporate governance to get the heave-ho. That means anyone on the board during the Chuck Prince reign.

I think that's reasonable; the government is going to be the largest shareholder, so it makes sense for to want new board members who didn't screw up.

Continue reading Cramer on BloggingStocks: The Chuck Prince Citi board has got to go

Cramer on BloggingStocks: The Chuck Prince Citi board has got to go originally appeared on BloggingStocks on Tue, 09 Jun 2009 09:50:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bacbank of americaBankOfAmericacchuck princeChuckPrincecitigroupfeaturedjim cramerJimCramerTue, 09 Jun 2009 09:50:00 EST<![CDATA[SEC charges former Countrywide CEO Mozilo with fraud and insider trading]]>http://www.bloggingstocks.com/2009/06/05/former-countrywide-ceo-mozilo-charged-by-sec-with-fraud-and-insi/http://www.bloggingstocks.com/2009/06/05/former-countrywide-ceo-mozilo-charged-by-sec-with-fraud-and-insi/http://www.bloggingstocks.com/2009/06/05/former-countrywide-ceo-mozilo-charged-by-sec-with-fraud-and-insi/#commentsFiled under: , , ,

Do you remember Countrywide Mortgage? Just before the subprime debacle, Countrywide was one of the biggest players in the mortgage business. A man named Angelo Mozilo became chief executive. The company was on a roll. Its motto was "let's think outside the box." And it did.

Countrywide was the first to process applications by computer. Then it let the computer assign a credit score. Then, in a bizarre move, if the credit score was too low, Countrywide just tacked on a few more percentage points to the interest on the mortgage.

Continue reading SEC charges former Countrywide CEO Mozilo with fraud and insider trading

SEC charges former Countrywide CEO Mozilo with fraud and insider trading originally appeared on BloggingStocks on Fri, 05 Jun 2009 08:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BACCountrywidefeaturedinsider tradingMoziloSECFri, 05 Jun 2009 08:40:00 EST<![CDATA[Closing Bell: When green shoots turn to blooms (AAPL, BAC, COST, GS, VLO)]]>http://www.bloggingstocks.com/2009/06/04/closing-bell-when-green-shoots-turn-to-blooms-aapl-bac-cost/http://www.bloggingstocks.com/2009/06/04/closing-bell-when-green-shoots-turn-to-blooms-aapl-bac-cost/http://www.bloggingstocks.com/2009/06/04/closing-bell-when-green-shoots-turn-to-blooms-aapl-bac-cost/#commentsFiled under: , , , ,

Today was looking like a fairly quiet day with no solid direction, but the green shoots crowd got some actual good news on the jobs front. This was the first report since once in January where the massive army of continuing jobless claims actually fell. We also saw a positive report showing positive CEO Sentiment again for the month of May. Here were today's unofficial closing bell levels:

Dow 8,750.24 +74.96 (0.86%)
S&P 500 942.46 +10.70 (1.15%)
Nasdaq 1,850.02 +24.10 (1.32%)

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Continue reading Closing Bell: When green shoots turn to blooms (AAPL, BAC, COST, GS, VLO)

Closing Bell: When green shoots turn to blooms (AAPL, BAC, COST, GS, VLO) originally appeared on BloggingStocks on Thu, 04 Jun 2009 16:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>adultvestangelo moziloAngeloMoziloBernsteinceo sentimentCeoSentimentiPornjobless claimsJoblessClaimsThu, 04 Jun 2009 16:00:00 EST