List of Banks Sued by the Government

Sep 5, 2011
J. Webster
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To me, this seems just crazy. First the government bails out all the banks and now they want to sue them. In a way it seems like a drug dealer being sued by a drug addict if they sell them a bunch of junk they doesn't get them high. To say Fannie Mae and Freddie Mac didn't know what they were getting into when they were buying this mortgage-backed securities seems absurd. Sure, there was a huge amount of deception going on in the financial system back in 2007-2008 and the years leading up to the collapse. However, weren't all the

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Bank of America Downgraded by Bank of America, Then Upgraded by Bank of America

Sep 1, 2011
J. Webster
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In an unprecedented move, Bank of America's own internal analysts have downgraded their own bank citing concerns about the overhang of CountryWide and the increasing and seemingly never ending lawsuits surrounding its mortgages liabilities. "We just don't expect to see a solution worked out related to all of these lawsuits any time soon. We see this overhang continuing in the second half of this year, and we also think there are plenty of other banks without so much overhang that you would be better off buying," the analyst wrote in a market note. "Plus, Bank of America is not paying

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The SunriseTrader

Sep 1, 2011
J. Webster
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If you don't know who the Sunrise Trader is you should. If you're not following him on Twitter you should. In the stock market world, where the phrase greed is good is often a mantra, it's refreshing to hear from someone so grounded. The Sunrise Trader makes some excellent points about not only trading stocks via trends and charts but how none of it really matters if we're not healthy. The desire to make money trading stocks is meaningless if we're not healthy. And nearly everyday, as if to prove this, he always seems to get

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Nonsense: Fast Money Final Trade in Music

Aug 31, 2011
J. Webster
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Has the Fast Money final trade ever brought you a golden goose of a trade, a pile of money so big you didn't know what to do with it? I doubt it. Their calls/bets seems so hedged with what ifs and if this happens then this happens type of phrases that's hard to really feel confident jumping in on their trades. Plus, the stock market the past few years has been a roller coaster of all roller coasters, with flash crashes, European debit concerns, debit limits, and revolutions across the Middle East, that there's no telling what it's going to

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Gun to His Head Doug Kass

Aug 31, 2011
J. Webster
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Along with getting advice from his wise little gnome, Doug Kass also has a gun to his head from time to time. Yes, Kass, is in the stock trading business and not a cop or fighting some war or a drug dealer. The gun to his head metaphor is his way of saying, 'If I had to say something about something right now, if I was forced to make a choice since there was a gun to my head, I'd say this.' And usually he's right, about the highs and lows of the day in a certain sector or

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Goldman Sachs Elevator Gossip

Aug 31, 2011
J. Webster
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Things heard in the Goldman Sachs elevators do not stay in the Goldman Sachs elevators. Perhaps due to the popularity of a Twitter feed from the depths of the Conde Nast building and its fashionistas, there's a new Twitter handle for the Goldman Sachs elevator. And this one is taking off, as it already has 10,026 followers after just 49 tweets. Here's one of its recent gems, which may or may not have actually been said by someone in the elevator of the vampire squid's elevator:

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Grasso, Najarian, and Wapner Hit the Town

Aug 30, 2011
J. Webster
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If Scott Wapner appears a bit hungover tomorrow, on Fast Money's halftime report, or God forbid, has to call in sick, you can blame Steve Grasso and Jon Najarian. Why? The CNBC boys were out on the town after the show in motherfu##$@# NYC. Wapner was all excited at first, taking to Twitter to say the city was bustling and the restaurant packed. You might even say he was jacked up: The CNBC Fast Money crew started off by hitting up Scalinatella for dinner and then it was on from there, as they say. It was the first time

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Pfizer Added to Goldman’s Conviction Buy List

Aug 30, 2011
J. Webster
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These days, the stock market is like floating on a river in a tiny inner tube with white water rapids around every corner. You're bound to tip over and drown or if you get lucky just make it through by luck and gumption. However, there's a way to survive the rough water in the market, and that's through dividend yielding stocks. Pfizer is one that you might want to keep on your radar. Right now the stock (PFE) has a dividend yeild of 4.25% and sits at a little under $19 per share. Plus, the stock was recently added to

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Bank of America Sells China Bank Stake, Raising $8 Billion

Aug 29, 2011
J. Webster
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So it finally happened. It's been talked about now for quite a while. Bank of America sold half its stake in China Construction Bank and raised $8 billion in doing so. Now, with Buffett's $5 billion infusion, in just a week or so, BofA has raised $13 billion. That wasn't too hard.

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Movie: Chasing Madoff

Aug 29, 2011
J. Webster
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Chasing Madoff is the compelling story of Harry Markopolos and his team of investigator's ten-year struggle to expose the harrowing truth behind the infamous Madoff scandal. Throughout the decade long investigation, Markopolos pieced together a chain of white-collar predators consisting of bankers, lieutenants, and henchmen, all linked to the devastating Ponzi scheme. With risk and danger apparent, Markopolos and his loyal team relentlessly continued to pursue the frightening truth. Finding himself trapped in a web of epic deceit, the once unassuming Boston securities analyst turned vigilante investigator now feared for his life and the safety of his family, as he

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