Comments on: “Wall Street’s Next Big Trade…”

By: LD

LD — Mon, 05 Jan 2009 19:01:07 +0000

I am fairly certain that it is a piggy bank. Remember….there are no bad questions.

By: justsomeone

justsomeone — Mon, 05 Jan 2009 18:03:42 +0000

LD, please indulge me on this question: What is that silver thing with the gold glow on top that is being used as an icon on your Dollars & Sense site? At first I thought it was a Dodge Ram hood ornament, however on closer inspection couldn’t figure out what it is. I hope this isn’t going to be another question everyone knows the answer to but me. Thanks for putting up with me.

By: LD

LD — Mon, 05 Jan 2009 13:33:24 +0000

Just…

That is NOT a list of troubled banks. I read that list as being a comprehensive list of ALL banks in the country.

I will admit that I am not familiar with the Mises School of thought. I do appreciate your continuing to raise interesting points.

I still need to look into the BDI (Baltic Dry index).

By: C Streets - awalsh

C Streets - awalsh — Mon, 05 Jan 2009 05:37:23 +0000

[...] H. Jump. Feeds and Seeds © Frank H. Jump. Possibly related posts: (automatically generated) . “Wall Street’s Next Big Trade.” : NO QUARTER John Paulson (no relation to Henry) is one of, if not, the most highly acclaimed and profitable [...]

By: justsomeone

justsomeone — Mon, 05 Jan 2009 04:03:12 +0000

LD, I listened to your radio show & found it interesting but I want to go back to the lists of banks at LewRockwell.com Is that a list of troubled institutions? If so how did a branch of JPMorgan Chase get on that list? Also noticed LewRockwell is affilated with the mises school of economic thought. Do you adhere to the mises school of thought? Aren’t they big advocates of buying gold?

By: justsomeone

justsomeone — Mon, 05 Jan 2009 03:56:12 +0000

If you’re looking for blame don’t let the comptroller of the currency off the hook, remember 3 or 4 States voted to try & stop the predatory level of subprime lending & he told them they had no authority

By: LD

LD — Mon, 05 Jan 2009 02:43:21 +0000

Thanks very much. Glad that you enjoy it as much listening as I do delivering.

I will inquire from KD as to whether he thinks any more loan officers may be culpable. I do know that some have been charged but certainly not nearly as many as deserved it. Over and above that the management of many of those companies should be charged.

I did find it very interesting that the owner of Ameriquest was a big Bush benefactor and ultimately the Ambassador to the Netherlands. Wow!!

By: fiscalliberal

fiscalliberal — Mon, 05 Jan 2009 02:10:08 +0000

LD – great show tonight with KD

I still wonder – are any of these fraudulent loan originators going to jail? Even though the companies are out of business, is there any culpibility for the loan officers.

Very good pace and management of the material during the show

By: LD

LD — Mon, 05 Jan 2009 00:19:32 +0000

Just…Awesome color !! Wow. I did not know that but thanks for sharing with our entire audience. That is truly significant.

All’s well that ends well !!

By: fiscalliberal

fiscalliberal — Mon, 05 Jan 2009 00:10:30 +0000

I found this article today in the NYT which helps explain some of the regulator maze.

http://www.nytimes.com/reuters/2009/01/04/business/business-us-financial-regulation.html?pagewanted=print

By: justsomeone

justsomeone — Mon, 05 Jan 2009 00:08:03 +0000

LD, inhale/exhale/inhale/exhale…. yes..you saw my message on the other thread…thank goodness the FDIC answered the phone today or I’d be camped out on the doorsteps of the bank(s) tomorrow morning. LOL. I’m no doubt the only one that actually freaked & thought 20,000 was a literal 20K…anyway I found out something of interest in my panic FDIC call: effective last Sept 28 “beneficiaries based on certain family relationships has been eliminated”, this refers to POD (pay on death) or TOD (transfer on death) revocable trust accounts. One may now use any person (they do not have to be relatives) or a non-profit. Apparently a lot of banks don’t know this or are choosing to not know this, as this adding of beneficiaries gives an additional 100K FDIC protection to an account. Almost sounds too good to be true. The agent I spoke with told me to have the bank call FDIC with me on the line & hear it themselves. Am I making sense?

By: LD

LD — Sun, 04 Jan 2009 21:01:07 +0000

Annie…this deal is an indication as to how badly the banking system needs capital and how expensive that capital is.

We plan on trying to stay on top of and ahead of these stories here at NQ.

By: LD

LD — Sun, 04 Jan 2009 20:55:43 +0000

Just….exhale !!

In all seriousness, I posted that list for the simple reason that I believe more information is better than less.

In regard to the assets listed, please understand that those numbers are in thousands. For example if the assets shown are $20,000 that equates to $20 million (20,000,000).

Understand?

If you still have assets greater than those numbers, then I would say you have a “high class” problem.

Again, in all seriousness. Make sure that your assets are below the FDIC limit of $250k per account. I am assuming they are.

Go back and check the Texas Ratio. I would be most concerned with the ratio if I were an equity holder first and foremost. Then secondarily a creditor (as in you own bonds issued by the bank).

If you are a depositor below the FDIC insured limit…then you should be fine.

Breathe in…Breathe out.

Please let me know if you understand all of the above.

Hope this helps.

By: Interested party

Interested party — Sun, 04 Jan 2009 20:43:06 +0000

I see. My other observation is agreeing mixing banking with high-risk investment is troublesome. In the past the former was known for its conservative approach to investment, low yield-low risk (this is good) while the other was prone to gamble or high yield-high risk (this is also good). There’s a manipulation of this equation now, in having government assume the risk, which may be good for investors, but a raw deal for tax payers (this is not good).

By: justsomeone

justsomeone — Sun, 04 Jan 2009 20:07:11 +0000

LD, as if I don’t have enough troubles…Just went through that exhausted list you posted of banks & ZOOWIE!! I have funds in two, a decent amount in one & a substantial amount in another. Forgot to jot down their Texas ratios but assets were pathetic (less than my CD in one of them)Please advise. Both say they’re FDIC