Occupy Wall Street Protesters Take Over Times Square

Oct 15, 2011
J. Webster
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In addition to the other Occupy Wall Street demonstrations in New York today, an estimated 15,000-20,000 protesters have taken over Times Square. NYPD responded with paddy wagons in tow and have arrested somewhere between 40 to 100 protesters.

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Barron’s Says Banks Are Super Cheap

Oct 15, 2011
J. Webster
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I guess if you were really bullish about the banks, and agreed wholeheartedly with Barron's, you'd go ahead and buy the Direxion Daily Financial ETF, which is triple times a basket of the bank stocks. The ticker is FAS. But here's a quick snapshot of what Barron's said about the sector:
The stocks—major banks, regional banks and trust banks, as well as life insurers—look appealing, with many trading at or below tangible book value, a conservative measure of shareholder equity, and at single-digit price/earnings multiples. The stocks are even cheaper based on stated book value, which includes goodwill from acquisitions. Most

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Does Doug Kass Still Like the Life Insurance Stocks?

Oct 15, 2011
J. Webster
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About three months ago, Doug Kass went on CNBC's Fast Money and said if you were afraid to buy the bank stocks, you should put your money to work by buying insurance companies like Hartford International, Lincoln National, Metlife and Prudential. He said they were cheap back then, before the stock market collapsed on all of the European debt fears, I wonder if he still likes them today, as they're 'extra' cheap now. On June 29th, when Kass made the call, Lincoln National (LNC) was trading at $28 a share, now it's $18 a share. Hartford Financial (HIG) was trading at

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The Reformed Broker’s Call To Action: Why Wall Street is Hated

Oct 15, 2011
J. Webster
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Here is the full transcript of The Reformed Broker's, (Josh Brown), rant on why the protesters are protesting down at Occupy Wall Street. Don't think one could lay it out any better than this - it's short and sweet and gets right to the point:
In 2008, the American people were told that if they didn't bail out the banks, there way of life would never be the same. In no uncertain terms, our leaders told us anything short of saving these insolvent banks would result in a depression to the American public. We had to do it! At our

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Hedge Fund Manager Calls Protesters Fringe Group, Ragtag

Oct 15, 2011
J. Webster
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This quote sure is going to go over well with the Occupy Wall Street protesters. I'm sure this will stir some things up and give them a jolt of energy to continue their efforts. Make more signs. March more. Stay longer. Many say the protesting will start to fade once the cold weather in New York comes. Quotes like these might change that.
“Most people view it as a ragtag group looking for sex, drugs and rock ’n’ roll,” said one top hedge fund manager. “It’s not a middle-class uprising,” adds another veteran bank executive. “It’s fringe groups. It’s people who

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Occupy Occupy Wall Street

Oct 13, 2011
J. Webster
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It looks like the local news channel just got punked! I'm pretty sure these two "bankers" are having a laugh and just trying to get some attention. It's too absurd not to be a joke. You have to give these guys credit for having the guts to do this...things could have gotten a little bit testy at the protest. Good thing the cops had a separate and gated area for them. And they're creating jobs, offering to pay the protesters to create better signs for them. AHHHH...this is pretty funny. "Capitalism is alive and well as evidenced

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Occupy Wall Street Sign: Average Household Income

Oct 13, 2011
J. Webster
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I don't think anyone in their right mind can argue with this. The disparity between the rich and the poor in the United States is absurd. Hat tip to The Business Insider for the

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Charlie Rose: Analysis of the Occupy Wall Street Protests

Oct 13, 2011
J. Webster
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Nice run down and analysis of the Occupy Wall Street Protests with Paul Krugman of 'The New York Times,' Jared Bernstein of CNBC, protester Bill Buster & Marshall Ganz of the Kennedy School at Harvard University on Charlie Rose last night.

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Rolling Stone’s Matt Taibbi Discussing Occupy Wall Street

Oct 12, 2011
J. Webster
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Matt Taibbi discussing Occupy Wall Street early on with Keith Olbermann on Current TV. Taibbi of course is perhaps most famous for calling Goldman Sachs a vampire squid.

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Nonsense: Greece Wants to Buy Nouriel Roubini’s Firm, Offers Crete in Exchange

Oct 12, 2011
J. Webster
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Why in the hell would Greece do that? Easy, they're tired of Roubini saying their country is falling apart and they won't be able to pay their debts. Other countries like Spain, Portugal and Ireland might chip in as well, to buy his firm. They too of course are tired of his glass half empty type projections and predictions. Moreover, the straw that broke the camel's back for Greece was when Roubini called their recent bailing out of creditors a giant Ponzi scheme. He also said they should leave the European Union and the Euro, an idea

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