For the next several months the FDIC will be very busy on the weekends.......at least until they run out of money.


http://<delete this>biz.yahoo.com/ap/080726/bank_takeover.html

The FDIC has about $53 billion in it's reserve and there are currently 90 banks on it's watch list which is to be updated soon.   IndyMac depleted somewhere between $4-$8 billion of the FDIC's reserve.

I told you bozos.  This whole bull market was the result of liquidity rampant because of banks like these throwing around money.  There is so much skeletons in the closet I don't know if it isn't likely that we will have a run on the banks.

Thank god someone spoke out on the bailout who is a real man, being SENATOR MCCAIN.  YES! He knows too how his colleagues are trying to hoodwink the taxpayer and preserve an unstable alliance backed by greedy mortgage lobbysists. 

 

http://online.wsj.com/

I think the new housing bill that the senate just passed yesterday and President Bush would likely sign will cause the  financial market for another rally next week. Good luck!

There may be a short term pop but it doesn't fix the problem.  Most Americans were against the housing bill so there may be a more negative view of it than a positive one since it guarantees a weaker dollar.  It is like a 10 foot tall wall trying to hold back a 50 foot tidal wave at the expense of taxpayers.

Now that the ground work for bailing out FNM and FRE has been approved it won't be long before these two are taken over.  At which time, their stock value goes to zero and equity bag holders and taxpayers get screwed.

I'm looking forward to the short term pop in financials during the next few weeks.  I'm hoping to sell UYG at 29 then go long on SKF.

The short pop I was talking about will last about 10-30 minutes.   It may not pop at all.   Judging by the futures tonight, there isn't much of a positive sentiment building.  It is looking more like we may open lower tomorrow.

Stardust:

I'm looking forward to the short term pop in financials during the next few weeks.  I'm hoping to sell UYG at 29 then go long on SKF.

I was in UYG a few days ago.....got out and bought SKF @$117.

jackg1606:

The short pop I was talking about will last about 10-30 minutes.   It may not pop at all.   Judging by the futures tonight, there isn't much of a positive sentiment building.  It is looking more like we may open lower tomorrow.

 

 

See what I mean.......Ben and Paulson are running out of bullets and can't hold this turd up much longer.

jackg1606:

See what I mean.......Ben and Paulson are running out of bullets and can't hold this turd up much longer.

I think you spoke too soon...the financial stocks are popping now...will see how long it will last.

This is Tuesday..All the stocks will be dumped on thursday/friday
 Short the financials on Thursday ..you wont regret it

Naren~:

This is Tuesday..All the stocks will be dumped on thursday/friday
 Short the financials on Thursday ..you wont regret it

I hope you didn't lose money during the last two days.   I can't believe that the financial stocks were able to stay up today.