[patientrenter]

“Nothing like that; we have seen this all before, it is called the Seventies. ”

I have to agree. This seems the most likely course.

[patientrenter]

“Nothing like that; we have seen this all before, it is called the Seventies. ”

I have to agree. This seems the most likely course.

[patientrenter]

“Nothing like that; we have seen this all before, it is called the Seventies. ”

I have to agree. This seems the most likely course.

[patientrenter]

“Nothing like that; we have seen this all before, it is called the Seventies. ”

I have to agree. This seems the most likely course.

[patientrenter]

[quote=michael]…As a tax payer, I’m more angry that Fannie, Freddie, and Ginnie are being propped up by the Fed and Treasury….
Does anyone else see the bias here?[/quote]

Yes.

[patientrenter]

[quote=michael]…As a tax payer, I’m more angry that Fannie, Freddie, and Ginnie are being propped up by the Fed and Treasury….
Does anyone else see the bias here?[/quote]

Yes.

[patientrenter]

[quote=michael]…As a tax payer, I’m more angry that Fannie, Freddie, and Ginnie are being propped up by the Fed and Treasury….
Does anyone else see the bias here?[/quote]

Yes.

[patientrenter]

[quote=michael]…As a tax payer, I’m more angry that Fannie, Freddie, and Ginnie are being propped up by the Fed and Treasury….
Does anyone else see the bias here?[/quote]

Yes.

[patientrenter]

[quote=michael]…As a tax payer, I’m more angry that Fannie, Freddie, and Ginnie are being propped up by the Fed and Treasury….
Does anyone else see the bias here?[/quote]

Yes.

[patientrenter]

I had some idea of BoA’s exposures. Not as much as I’d like, but enough to satisfy me based on the limited time I had for research (a few hours) and the dollar amount.

I do not think it’s a good idea for the leadership of public companies in general, and the biggest publicly traded financial institutions in particular, to have divided loyalties. And I am unsatisfied that our system for regulating companies allows egregious examples of divided loyalty. If the only way that you could trust company management of a publicly traded company not to rip you off was sheer trust, then the entire public company route for allocating capital efficiently across the economy would be terribly, and unnecessarily inefficient.

So sure, I bear responsibility for choosing BoA stock, and I am not blaming anyone else for my own choice. But that doesn’t take Ken Lewis or his board of the hook for very bad choices, and for putting themselves ahead of their shareholders improperly. To the extent that the SEC or other regulatory bodies are charged with ensuring we have the most efficient system for allocating capital across our economy, then they also failed when they permitted such behavior.

[patientrenter]

I had some idea of BoA’s exposures. Not as much as I’d like, but enough to satisfy me based on the limited time I had for research (a few hours) and the dollar amount.

I do not think it’s a good idea for the leadership of public companies in general, and the biggest publicly traded financial institutions in particular, to have divided loyalties. And I am unsatisfied that our system for regulating companies allows egregious examples of divided loyalty. If the only way that you could trust company management of a publicly traded company not to rip you off was sheer trust, then the entire public company route for allocating capital efficiently across the economy would be terribly, and unnecessarily inefficient.

So sure, I bear responsibility for choosing BoA stock, and I am not blaming anyone else for my own choice. But that doesn’t take Ken Lewis or his board of the hook for very bad choices, and for putting themselves ahead of their shareholders improperly. To the extent that the SEC or other regulatory bodies are charged with ensuring we have the most efficient system for allocating capital across our economy, then they also failed when they permitted such behavior.

[patientrenter]

I had some idea of BoA’s exposures. Not as much as I’d like, but enough to satisfy me based on the limited time I had for research (a few hours) and the dollar amount.

I do not think it’s a good idea for the leadership of public companies in general, and the biggest publicly traded financial institutions in particular, to have divided loyalties. And I am unsatisfied that our system for regulating companies allows egregious examples of divided loyalty. If the only way that you could trust company management of a publicly traded company not to rip you off was sheer trust, then the entire public company route for allocating capital efficiently across the economy would be terribly, and unnecessarily inefficient.

So sure, I bear responsibility for choosing BoA stock, and I am not blaming anyone else for my own choice. But that doesn’t take Ken Lewis or his board of the hook for very bad choices, and for putting themselves ahead of their shareholders improperly. To the extent that the SEC or other regulatory bodies are charged with ensuring we have the most efficient system for allocating capital across our economy, then they also failed when they permitted such behavior.

[patientrenter]

I had some idea of BoA’s exposures. Not as much as I’d like, but enough to satisfy me based on the limited time I had for research (a few hours) and the dollar amount.

I do not think it’s a good idea for the leadership of public companies in general, and the biggest publicly traded financial institutions in particular, to have divided loyalties. And I am unsatisfied that our system for regulating companies allows egregious examples of divided loyalty. If the only way that you could trust company management of a publicly traded company not to rip you off was sheer trust, then the entire public company route for allocating capital efficiently across the economy would be terribly, and unnecessarily inefficient.

So sure, I bear responsibility for choosing BoA stock, and I am not blaming anyone else for my own choice. But that doesn’t take Ken Lewis or his board of the hook for very bad choices, and for putting themselves ahead of their shareholders improperly. To the extent that the SEC or other regulatory bodies are charged with ensuring we have the most efficient system for allocating capital across our economy, then they also failed when they permitted such behavior.

[patientrenter]

I had some idea of BoA’s exposures. Not as much as I’d like, but enough to satisfy me based on the limited time I had for research (a few hours) and the dollar amount.

I do not think it’s a good idea for the leadership of public companies in general, and the biggest publicly traded financial institutions in particular, to have divided loyalties. And I am unsatisfied that our system for regulating companies allows egregious examples of divided loyalty. If the only way that you could trust company management of a publicly traded company not to rip you off was sheer trust, then the entire public company route for allocating capital efficiently across the economy would be terribly, and unnecessarily inefficient.

So sure, I bear responsibility for choosing BoA stock, and I am not blaming anyone else for my own choice. But that doesn’t take Ken Lewis or his board of the hook for very bad choices, and for putting themselves ahead of their shareholders improperly. To the extent that the SEC or other regulatory bodies are charged with ensuring we have the most efficient system for allocating capital across our economy, then they also failed when they permitted such behavior.

[patientrenter]

[quote=capeman]Colonial alone will take the FDIC fund into negative territory by billions of dollars in losses.[/quote]

Insignificant. Just add the losses to the total taxpayer bailout tab. What we have already committed to do will become trillions in losses. The bank losses, whether they get filled by the FDIC, or by asset price subsidies from another branch of the govt, will be massive.

[Author]

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