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commentary on Politics and a little bit of everything else

Daily Manila……Wall Street Exit?……

And the easy money on Wall Street began to exit today.

There is plenty of cheap real estate to invest in.

Plenty!

“Many lawmakers contend that speculation in derivatives, including by large banks, contributed to the 2008 crisis.”

Did they bring back the junk bond? Come on. They “forgot” something again.

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May 20, 2010 Posted by | Blogs, Breaking News, Counterpoints, Government, Manila @ PoliticalDog, Media, Men, Politics, Projections, The Economy, Updates | , | Leave a comment

The Market SOARS back UP!…… on news of a Greek bailout by the EU…….

The American Markets all came roaring back in the last few hours since trading opened this morning on the report that the

European Union will set aside a 750 Billion Euro bailout fund to help stabilize Greece and calm jittery financial markets around the world…..

The will repeat something very evident….

For those of you who ascribe to the let them fail economic policy……GO HOME……

When Big businesses, State’s and Countries get in financial trouble…..

THEY GET BAILOUTS.…..

Please remember this…

U.S. blue-chip stocks barreled toward their biggest one-day point gain of the year on Monday as a new nearly $1 trillion bailout package to help stabilize Europe lured investors back into riskier assets.

The Dow Jones Industrial Average climbed 350 points, or 3.4%, to 10732 in early trading, on pace for its biggest one-day gain of the year.

The Standard & Poor’s 500-share index moved back above 1150, rising 3.8% to 1153. The Nasdaq Composite gained 4%.

All but one of the Dow’s 30 components gained. General Electric climbed 6.9% to lead the measure. Boeing rose 5.9% after Goldman Sachs upgraded the stock to a “conviction buy” from “neutral,” writing that Boeing “spans nearly every positive global theme that is driving outperformance in stocks today.”

Cisco Systems leapt 6.3% and Caterpillar gained 6.1%. Only Wal-Mart Stores slipped into the red, edging down 0.5%.

Within the S&P 500, the industrials and financials sectors led the gains, as investors returned to the riskier areas of the market.

The U.S. market’s climb followed strong gains in the Asian and European markets after the European Union agreed to a €750 billion ($954.83 billion) bailout, comprising €440 billion of loans from euro-zone governments, €60 billion from a European Union emergency fund and €250 billion from the International Monetary Fund…….

In further coordinated efforts to assuage spooked markets, the European Central Bank will go into the secondary market to buy euro-zone national bonds—a step last week that its president, Jean-Claude Trichet, said the central bank didn’t even contemplate—and the Federal Reserve, working with other central banks, re-activated swap lines so foreign institutions can get access to loans.

But investors eyed the surging U.S. market with some skepticism.

“I’m alarmed that the world was ending last week and today’s the new beginning,” said John Lynch, chief equities strategist at Wells Fargo Funds Management Group. The European Union’s agreement addresses only some of Europe’s short-term concerns, he said.

“This solves or attempts to solve the funding issues, but it has nothing to do with solvency and reform and cuts,” he said. Mr. Lynch said the S&P’s bounce back would be more sustainable if it remained around the 1150 level it last crossed in mid-March…..

More……..

May 10, 2010 Posted by | Breaking News, Counterpoints, Government, Media, PoliticalDog Calls, Politics, The Economy, Updates | , , , , | 1 Comment

The Senate will never pass the same bill as the House against Wall Street…..

The memebers of the U.S.House of Representives know it…so does Wall Street and the White House….the whole thing was a giant press release…..

Even some Democrats (27) voted against the bill……..

I’m not even getting into it……

Stay tuned for more to come……..

December 12, 2009 Posted by | Breaking News, Government, Law, Media, Politics, Taxes, The Economy | , , , | Leave a comment

The ‘too big to fail guys’ are afraid of being cut down to size…….

Crying wolf..several CEO’s of ‘too big to fail’ companies are using New York State’s economy as a hedge to push back against the Congress’s plan to regulate that they not be allowed to ‘own’ their markets by their size…..lets see what happens after the alarm of last year has subsided…

…..Do these companies keep their immunity and stay ‘too big to fail’?

Capitalism is one thing….Corporate ‘bigmail’ is another…….

November 12, 2009 Posted by | Government, Law, Politics, The Economy | , , , , | Leave a comment

The 'too big to fail guys' are afraid of being cut down to size…….

Crying wolf..several CEO’s of ‘too big to fail’ companies are using New York State’s economy as a hedge to push back against the Congress’s plan to regulate that they not be allowed to ‘own’ their markets by their size…..lets see what happens after the alarm of last year has subsided…

…..Do these companies keep their immunity and stay ‘too big to fail’?

Capitalism is one thing….Corporate ‘bigmail’ is another…….

November 12, 2009 Posted by | Government, Law, Politics, The Economy | , , , , | Leave a comment

Dow goes up 203.52 points !

The market always leads the economy out of a slump, and it is doing it this time….The finish of 10,226.94 points is the highest it’s been for 13 months…..Look for ups and downs…but investors are jumping back in ……..Gold traded at 1,100.80 an ounce…..

November 9, 2009 Posted by | Breaking News, Media, Politics, The Economy | , , , | 9 Comments

Kenneth D. Lewis, the CEO of the Bank of America, will take early retirement….

After riding thru a very rough period for the bank and its acquisitions…Kenneth D. Lews, the CEO of the United States largest bank, largest retain brokerage, largest credit card holder and largest mortgage holder…..Bank of America is leaving (joining other Wall Street CEO’s gone)…..he will receive pension benefits worth $53.2 million, and other compensation (including stock trading at a low of $16 vs a high of $54 in 2006) worth almost  $81 million…….

I posted earlier that Lewis got a whole lot of people mad at him for buying Merrill Lynch during crunch time last year after he found out the company was just about worthless…his defense was that Paulson and Bermenke forced him to do it….but neither forced him to allocate almost $5 billion in salaries for employees after borrowing billions of dollars from the government to prop up the Bank after the merger ……. something any reasonable person would not do, fearing that the government and stockholders would be pissed …..

And they still are………

October 1, 2009 Posted by | Politics, The Economy | , , , , , , , | Leave a comment

The administration acknowledges that the country is climbing out of the recession……

Treasury Secretary Tim Geithner  has joined private forecasters  and others in proclaiming that the country IS coming out of the  worst recession in a long, long time. On ABC’s This Week,  he pointed out that economy has slowed its drop in the last quarter to 1%,  from a 6.4% drop the first quarter of this year. In a related manner, he predicted that the Obama administration would not ask for money for Wall Street ( withe salaries they are paying, he would get scratch anyways ). He also was careful to pin a prediction on a drop in unemployment to private forecasters. Finally, Geithner did think that unemployment benefits would be extended again……

August 2, 2009 Posted by | Politics | , , , , , | Leave a comment