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The truth.....I can't handle the truth....

 

 

=DJ S&P: Recovery For US Banking Industry To Take Time

DOW JONES NEWSWIRES

 

 

Despite the better-than-expected results from the U.S. government's stress tests last week, Standard & Poor's Ratings Services believes the banking industry is far from a recovery.

 

"There's nothing to say that this banking crisis can't go for another three or four years," Tanya Azarchs, a manager director at S&P, said at a recent seminar.

 

Instead, S&P said it believes the banks have entered a new phase, but said it was difficult to predict just how long that phase will last.

 

S&P has said the government's steadfast support is critical to the industry's ability to survive the woes, saying there wasn't any indication the support is waning, but warning some limits may exist in the future as Troubled Asset Relief Program funds dwindle.

 

Last Thursday, the U.S. government said 10 of the 19 largest financial institutions would be required to raise a combined $75 billion in capital to meet the requirements of the government's stress tests. S&P Wednesday said it didn't see this figure as an unmanageable amount.

 

Prior to the results of the stress test, S&P last week completed its own stress testing on banks' loan portfolios and placed its ratings on 22 national and regional banks and one thrift, as well as their various units, on watch for downgrade, saying the companies could face downgrades within 90 days. At that time, S&P said it lowered its expectations for the industry, but maintained it believed most of the rated institutions would be able to earn their way out of their credit losses.

DOW JONES NEWSWIRES

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who up fer bargain-scoopin' tomorrow?

whip outcher dongs!

it's all good

freshly issued common shares of quality, honest, profitable corporations

git sum before they all gone

hurry!

they not makin' any more

git into sum them common shares

don't git left behind

it's a new bull market

house prices have bottomed

the stimulus package is working

401k's are roarin' back, above the Bush highs soon

half a million families laid off per week is not a relevant issue

who cares about them

just git sum common shares and ride 'em

you can trust them CEO's, they lookin' out fer ya

believe me, they see ya comin'

step right up!

post-2457-1242247060.jpg

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I got offered quite a few secondaries in the last 2 days,turned them all down.

 

Every one this week is down since the offering.

 

APC was the biggest scam,30 million shares priced at 45.50 yesterday.It closed at 43.46 today.I was gonna buy the common in the aftermarket and sell calls for friday's expiration,Lucky I didn't since I would have still taken a bath on it.

 

Alot of people are going to be trapped in these secondaries at crazy prices.

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"When The Fed set up Maiden Lane they took on responsibility for settlement of all of the CDS."

and

"The Federal Reserve decided we should pay 100 cents on the dollar"

 

AIG CEO Lewis today at hearing.

 

So Ben decided to pay off the big banks bets 100%. Nice work. Well it was always implicit. I'd just like to know if Paulson just agreed, or suggested, or pressured, or ordered. Ben, what a fall guy. The perfect schmuck.

 

 

 

http://zerohedge.blogspot.com/2009/05/aig-...l-to.html#links

 

 

Also Tan Angelo is going down. Which was inevitable I suppose. A perfect sacrificial lamb.

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who up fer bargain-scoopin' tomorrow?

whip outcher dongs!

it's all good

freshly issued common shares of quality, honest, profitable corporations

git sum before they all gone

hurry!

they not makin' any more

git into sum them common shares

don't git left behind

it's a new bull market

house prices have bottomed

the stimulus package is working

401k's are roarin' back, above the Bush highs soon

half a million families laid off per week is not a relevant issue

who cares about them

just git sum common shares and ride 'em

you can trust them CEO's, they lookin' out fer ya

believe me, they see ya comin'

step right up!

 

The picture reminds me-- I wonder what happened to hokahay.

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I got offered quite a few secondaries in the last 2 days,turned them all down.

 

Every one this week is down since the offering.

 

APC was the biggest scam,30 million shares priced at 45.50 yesterday.It closed at 43.46 today.I was gonna buy the common in the aftermarket and sell calls for friday's expiration,Lucky I didn't since I would have still taken a bath on it.

 

Alot of people are going to be trapped in these secondaries at crazy prices.

 

 

hey hanky, you live in Vegas...whats your take on MGM stock?

jumped the gun a bit on my buy today at 9+ and appears they are pricing a secondary around $7,

tempted to add more around $8...thinking it see's the 20's later this year...

 

cheers

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According to Mayan prophecies and S&P the US banking crisis will end in 2013.

 

"A day after saying big U.S. banks probably needed to raise only one-fourth the capital demanded by the government, Standard & Poor's said the nation's banking crisis has "merely entered a new phase" and might not end before 2013."

 

http://finance.yahoo.com/news/US-banking-c...set=&ccode=

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