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Schwab pulling same stunt as CFC


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CountryWide just did this in the Spring

 

DJ Charles Schwab Applies To Convert Bank Charter To Thrift

 

By Damian Paletta

Of DOW JONES NEWSWIRES

 

 

WASHINGTON (Dow Jones)--Charles Schwab Corp. (SCHW) is trying to simplify

its regulatory oversight by converting its three-year-old banking unit into a

federal thrift.

 

Charles Schwab Bank, a subsidiary of the brokerage company, holds $11.5

billion of assets and $10.7 billion of deposits. The company filed an

application earlier this week with the Office of Thrift Supervision to convert

its national bank charter, which is supervised by the Office of the

Comptroller of the Currency, into a federal thrift charter. Both the OTS and

the OCC are independent divisions of the Treasury Department.

 

"What this represents is the ongoing effort on the part of our company to

simplify our operations," Charles Schwab spokesman Glen Mathison said.

 

Charles Schwab Bank is based in Reno, Nev. It offers checking accounts,

originates loans and supports the company's brokerage operations.

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Let me see if I understand this.

 

From noon yestersday to the open this morning, the SPU rose about 100 points.

 

As far as I can tell, the only things that happened are Japan tanked overnight; the dollar lost value; crude went up; interest rates went up; the Open Market Operataions for today resulted in a net draing of $6 Billion; and, the Fed made an announcement that is characterized as a joke.

 

Am I missing something?

 

Is there any question of the power of Heller's concept with the coordinated action of the fed+21?

 

Yes, I know that this is only a short term impact and does not take away from an idea that the market will go down in a slow stair-step fashion. I am not in any way denying that. Nevertheless, what will it take for a longer term turn down or is this as good as it gets for the bears?

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short term indicators turn up

 

intermediate term indicators are Dover Sole and have the potential to bottom here

 

if the bool market is still on this could very well be the mother of all bottoms

 

we'll see

601081[/snapback]

 

Maybe....but usually there is some consolidation .....and then a retest of the "lows" area......at least that is my experience.....but I don't know the future... :)

 

post-1110-1187382885_thumb.jpg

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According to Jimbo Krammer and the rest of the whine enthusiasts, we are in the most cataclysmic financial crisis ever in the history of the world. So we need Uncle Ben to stuff wads of dough into our pockets.

 

Yet when you look at the long-term NDX chart, the past month of fear and loathing is not even visible to the naked eye.

 

Even on the shorter-term chart showing the lazy uptrend over the past four years, not a thing has happened to indicate that the world has just fallen apart. All that you can see is that a few week's of frothy gains have been given back and the NDX is "threatening" to re-enter the lazy uptrend channel in place since 2004.

 

Is this what Krammer is screaming about?

 

"Oh, no! Save us, Unca Ben! The Nardsaq might re-enter the lazy uptrend channel again! I just lost three week's worth of frothy gains on my scrAAPLe, RIMMjob and GIGGler. Do sumthin', Bennie! I cain't takes no more of this pain!"

 

If the girlybullz like Krammer think that a minor haircut on his beloved frothmuffins is worthy of getting on his knees and praying to Lord Ben for manna from heaven, imagine what would happen if we ever actually turned bearish again? :ph34r:

post-2169-1187383193_thumb.jpg

post-2169-1187383204_thumb.jpg

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I trade through Schwab and I think it has a mortgage arm. Does anyone have a broker they think is totally solid they would recommend?

 

If a broker goes bankrupt what happens to my stock positions and does it make a difference if you take delivery of certificates?

601080[/snapback]

 

When you have the stock in registered certificate form you HAVE the stock.

When the brokerage holds the stock you only have it in book entry form and if they go broke you are one of many creditors and may make a claim for your stock

and then wait.

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Let me see if I understand this.

 

From noon yestersday to the open this morning, the SPU rose about 100 points.

 

As far as I can tell, the only things that happened are Japan tanked overnight; the dollar lost value; crude went up; interest rates went up; the Open Market Operataions for today resulted in a net draing of $6 Billion; and, the Fed made an announcement that is characterized as a joke.

 

Am I missing something?

 

Is there any question of the power of Heller's concept with the coordinated action of the fed+21?

 

Yes, I know that this is only a short term impact and does not take away from an idea that the market will go down in a slow stair-step fashion.? I am not in any way denying that.? Nevertheless, what will it take for a longer term turn down or is this as good as it gets for the bears?

601083[/snapback]

 

That, my friend, would require the services of Nostradamus to answer. Or maybe Oprah.

 

Just watch the numbers.

 

Right now, the girlybullz see those four weekly candles from March sitting their big fannies right at 1387. The first trip down there held like a champ, though the undercut of 1387 strikes me as a bit of a red flag given those fat weekly fannies.

 

So the girlybullz are now ASSuming the March lows will hold, perhaps pending another leetle re-test or somethin'.

 

The bearz have a slender thread of hope that 1453 resistance will hold. But it's a mighty thin reed indeed.

 

What do we know right now? Well, we know that the March lows will be defended. But we don't know whether they will hold forever until we see how far up we go. Currently, the SPX hasn't even re-entered the "Entertainment Zone" about 1453.

 

Next week should unveil more clues in the latest episode of "As The Market Turns".

post-2169-1187384296_thumb.jpg

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Oh, sweet irony.

 

That smug blowed-up hedgie John Devaney (the guy with the "Positive Carry" yacht) is in big-time liquidation mode. Now he's having to dump his own personal helicopter due to "changing corporate travel requirements." :)

 

Maybe he can sell it to HeliBen who might need to add to his fleet as things unfold.

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According to Jimbo Krammer and the rest of the whine enthusiasts, we are in the most cataclysmic financial crisis ever in the history of the world. So we need Uncle Ben to stuff wads of dough into our pockets.

 

Yet when you look at the long-term NDX chart, the past month of fear and loathing is not even visible to the naked eye.

 

Even on the shorter-term chart showing the lazy uptrend over the past four years, not a thing has happened to indicate that the world has just fallen apart. All that you can see is that a few week's of frothy gains have been given back and the NDX is "threatening" to re-enter the lazy uptrend channel in place since 2004.

 

Is this what Krammer is screaming about?

 

"Oh, no! Save us, Unca Ben! The Nardsaq might re-enter the lazy uptrend channel again! I just lost three week's worth of frothy gains on my scrAAPLe, RIMMjob and GIGGler. Do sumthin', Bennie! I cain't takes no more of this pain!"

 

If the girlybullz like Krammer think that a minor haircut on his beloved frothmuffins is worthy of getting on his knees and praying to Lord Ben for manna from heaven, imagine what would happen if we ever actually turned bearish again? :ph34r:

601086[/snapback]

 

i think this index looks pretty good but behind the scenes there is a train wreck.

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According to Jimbo Krammer and the rest of the whine enthusiasts, we are in the most cataclysmic financial crisis ever in the history of the world. So we need Uncle Ben to stuff wads of dough into our pockets.

 

Yet when you look at the long-term NDX chart, the past month of fear and loathing is not even visible to the naked eye.

 

Even on the shorter-term chart showing the lazy uptrend over the past four years, not a thing has happened to indicate that the world has just fallen apart. All that you can see is that a few week's of frothy gains have been given back and the NDX is "threatening" to re-enter the lazy uptrend channel in place since 2004.

 

Is this what Krammer is screaming about?

 

"Oh, no! Save us, Unca Ben! The Nardsaq might re-enter the lazy uptrend channel again! I just lost three week's worth of frothy gains on my scrAAPLe, RIMMjob and GIGGler. Do sumthin', Bennie! I cain't takes no more of this pain!"

 

If the girlybullz like Krammer think that a minor haircut on his beloved frothmuffins is worthy of getting on his knees and praying to Lord Ben for manna from heaven, imagine what would happen if we ever actually turned bearish again? :ph34r:

601086[/snapback]

You are most definitely right. But it shows that most Americans not only believe, but NEED at a visceral level, the market to go up each and every day. The populace has been so conditioned that the market always goes up. Thus, the illusion must be maintained at all costs. The old theory of cycles must be dismissed. It has to be different now.

 

What will the reaction be if we truly enter a bear market, G_d forbid? Will Joe6 still hold everything?

 

Are the windows on Wall Street secured?

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I think the market will be pulled down to the lower trendlines slowly so the power brokers can do their crank and shank dance and make some money for those year end bonuses. It is gonna take some time and if it happens too quickly they can't make their yearly numbers... <_< I'd bet the house on touching the SPX lower trendline this year and I'll bet things will be a little crazy at that time also...

 

post-1110-1187385554_thumb.jpg

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I trade through Schwab and I think it has a mortgage arm. Does anyone have a broker they think is totally solid they would recommend?

 

If a broker goes bankrupt what happens to my stock positions and does it make a difference if you take delivery of certificates?

601080[/snapback]

 

When you have the stock in registered certificate form you HAVE the stock.

When the brokerage holds the stock you only have it in book entry form and if they go broke you are one of many creditors and may make a claim for your stock

and then wait.

601087[/snapback]

 

Stoolbob

Yob bring up a topic which most members of the board know has distrubed me very much

 

I even went as far as asking my broker ( avery very large bank) to send me my certificates for the very reasons Skidmark cites....that your shares are in a cage within a New York fortress depository under a "STREET" name....not yours--banks & brokers like it this way because they can then play around and permit others to e.g. to take short positions by borrowingyour shares anonymously held, and thereby reap vast fortunes..

 

I therefore asked my broker (nice young indian fellow) to send me my shares, thinking a small fee was ll that was necessary, and that I would be a lot happier when I got them safely in my hands

 

You know what I got???

 

A big fat envelope with a ton of paperwork to fill out. Not being the type to sit down and write and write, foolishly answering boilerplate Ive simply left it on the shelf gathering dust; I now rationaize my fecklessnes and lassitude by lighting candles bi-monthly celebrating the fact that if my home burnt down my shares would not be in danger....

 

My live is rapidly turning into a virtual chessgame where my nights are in constant danger of being rooked

 

I f i Had the energy I'd go forward with what I reccomend you do..

 

beardrech :ph34r: :ph34r: Dont doo doo as I do but Do do as I say

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