Godlike Productions - Discussion Forum
Users Online Now: 1,879 (Who's On?)Visitors Today: 190,614
Pageviews Today: 484,586Threads Today: 342Posts Today: 4,834
07:23 AM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

5 big winners in the banking crisis!

 
UnwanteDreams
Offer Upgrade

User ID: 404735
United States
07/29/2008 12:42 PM
Report Abusive Post
Report Copyright Violation
5 big winners in the banking crisis!
[link to articles.moneycentral.msn.com]



By Jim Jubak
Where there are losers, there are going to be winners.

In my previous column I picked five financial companies that had lost part or all of their competitive edge because of the current crisis in the financial industry.

All these companies -- American International Group (AIG, news, msgs), Citigroup (C, news, msgs), Merrill Lynch (MER, news, msgs), Wachovia (WB, news, msgs) and Washington Mutual (WM, news, msgs) -- will, at best, lose market share to rivals.
Today's column is about the five financial companies that are best positioned to pick up the pieces. Each one is an intense rival of one or more of the five companies so damaged by the meltdown in the markets for everything from mortgages to credit cards to car loans to complex instruments that were supposed to take the risk out of buying debt.

Each one of these winners is going to gain market share at the expense of its challenged competitors. It's pretty easy to pick up business against a competitor that's still firing people, selling off whole businesses and scrambling to find enough capital to keep regulators at bay. The issue for these five winners isn't whether they'll grab market share but how much they'll seize.

My five winners from the financial crisis are ING Group (ING, news, msgs), JPMorgan Chase (JPM, news, msgs), Toronto Dominion (TD, news, msgs), US Bancorp (USB, news, msgs) and Wells Fargo (WFC, news, msgs). I've written about ING, Toronto Dominion and US Bancorp before. All three are members of my 'unfixed-income' portfolio, and US Bancorp is a current Jubak's Pick. But the two others are new to this column.After discussing each of these five, I'll name three other financial stocks that I'd add to this group if things broke in their favor in the near future.


ING
This Dutch bank and insurance company is positioned to pick up the pieces dropped by Citigroup and American International, both internationally and inside the United States. To give you just one glaring example of the way that ING is expanding into markets where challenged competitors are pulling back: In July, Citigroup announced the sale of its German consumer-loan business, with 340 branches and 3.2 million clients. In May, ING announced that it would buy German online mortgage broker Interhyp for about $644 million.

Before the current crisis, I would have identified Citigroup, American International and HSBC (HBC, news, msgs) as the leaders in the race to build dominant global financial brands. Stumbles by Citigroup and American International have thrown the race open to new players.


I think ING is most likely to come out of this crisis as a new member of the global top three. The company already has 75 million customers around the world, and it's making all the right moves to expand that number. About half of ING's business is insurance. In that business, ING has been busy shifting capital from mature West European markets to faster-growing markets in Central Europe and Asia. For example, on July 9, the company received regulatory approval to enter the insurance market in Ukraine.

In the banking part of its business, ING has stepped up its penetration of the U.S. market through its online ING Direct business. ING is an aggressive accumulator of online deposits, with more than $300 billion in online deposits worldwide. In the post-crisis world, raising funds for making loans from relatively low-cost deposits instead of in the capital markets will be a huge competitive advantage.

The company is also going after the lucrative and fast-growing market for managing retirement money. On July 1, the company acquired CitiStreet, a retirement plan and benefit service and administration business. The deal makes ING the third-largest defined-contribution pension business in the U.S., with $300 billion in assets under management. The company's strategy is to make smaller acquisitions of businesses that add to its existing core. In the current crisis, there are likely to be lots of businesses that fit that bill for sale.

(The stock now yields more than $7. Be careful when calculating yields because the company pays dividends twice a year instead of the customary four times.

JPMorgan Chase
It's not that the bank has been managing its business perfectly during the financial crisis; the company admits it made a mistake when it increased its mortgage lending in California in 2007 in an effort to take advantage of competitors' problems.

It's just that JPMorgan Chase's mistakes have been so much smaller and are supported by a much stronger balance sheet. For example, it looks like the charge-offs on its $95 billion home-equity portfolio will peak at about $700 million per quarter. That's about a 3% annual rate. No bank ever likes to take a $700 million charge, but it's surely better to be talking about millions with an "m" rather than billions with a "b."


It's time to write off the rest of 2008, says Jim Jubak. Banks are cutting back on their loans to companies, and without that capital, businesses won't be able to fund operations.And unlike many of its competitors, JPMorgan Chase doesn't have any need to raise new capital. With a Tier 1 capital ratio of 8.4%, the bank has one of the strongest balance sheets in the sector. (A 6% ratio is the minimum to be considered well-capitalized by regulators.) It's that strength that let the bank pick up investment bank Bear Stearns for a song in a deal brokered by the Federal Reserve. That deal moved the bank's investment banking business into new markets.

The bank hasn't ignored its retail side either. The 2007 grab for market share in the most distressed mortgage markets may have increased charge-offs for bad debt, but it increased the bank's market share as well. Net revenue at the mortgage banking unit climbed 46% in the second quarter of 2008 from the second quarter of 2007, and net income climbed 138%.

What's ahead? The bank will use its balance-sheet muscle to pick up the businesses it finds most attractive around the world. On July 25, the bank began talks with National Australia Bank (NABZY, news, msgs) and Banco Santander (STD, news, msgs) to buy and break up deeply troubled United Kingdom mortgage lender HBOS (HBOOY, news, msgs). Right now, JPMorgan Chase can sit back and see what gems the crisis might put into play. Nice position to be in.

Toronto Dominion
The Canadian bank acquired Commerce Bancorp of the U.S. at exactly the right time. Toronto Dominion didn't overpay (the premium on the deal was just 25%, low by the standards of bank deals) because Commerce was coming out of a period of regulatory troubles.

And now, just when deposits are moving back to center stage as the cheapest source of bank capital, Toronto Dominion finds itself owning a deposit-gathering machine. Commerce Bancorp's emphasis on service and convenience has long let the bank pull in deposits at a pace that far outstripped bank industry averages.

The recent decision to rebrand Commerce branches with the TD logo, which the company says it was forced to do by the threat of litigation, isn't a positive. But in the short run, it shouldn't send current Commerce customers running to find another bank. And in the long, run it gives Toronto Dominion, which had acquired BankNorth in 2005, a single brand identity in the U.S. market. With its home Canadian market essentially closed to foreign competition, Toronto Dominion can use the extraordinary profitability of its north-of-the-border operations to fund further expansion in the U.S.

US Bancorp

Here's what I wrote about US Bancorp after the company announced second-quarter earnings: "US Bancorp missed Wall Street earnings estimates by 7 cents a share in the second-quarter results announced on July 15. The disappointment delivered by this very conservatively managed bank is evidence of exactly how deep the crisis is facing the financial sector. Revenue grew by 8% for the quarter, beating Wall Street projections by roughly $20 million. But the company wound up taking charges that reduced earnings 11 cents a share: a $66 million impairment charge for structured investment vehicle securities and a $200 million provision for credit losses.

"My thesis that this conservatively managed bank will be able to grab market share thanks to troubles at other banks remains intact. Total average loans grew by 12% from the second quarter of 2007. Total average deposits climbed 14% for the quarter."

One comment stood out in the conference call: The company said it would conserve capital by reducing its expenditures on buying back shares in order to protect the current dividend of $1.70 a share (the yield on July 25 was 5.86%) and have enough cash to make opportunistic acquisitions in a battered financial industry.

I like that thinking.

Wells Fargo
The bank is now reaping the rewards of keeping its powder dry. The company did add $1.5 billion in the second quarter to its provisions against bad loans, but net charge-offs climbed to just an annualized 1.55% for the quarter.

The relatively modest losses have let Wells Fargo increase its lending just as its capital-constrained competitors have pulled back. Earning assets grew at an annualized 15% rate from the first to the second quarter of 2008 and 20% from the second quarter of 2007. Average total loans climbed 18% from the second quarter of 2007 and at an 8% annualized rate from the first quarter of 2008.

The bank's decision to increase its quarterly dividend by 10% to 34 cents a share was the equivalent of taking out a huge billboard saying, "Hey, we've got the cash to raise the dividend, so we've sure got the cash to lend to you."

Having the cash to lend when other banks don't has let Wells Fargo increase the already hefty difference between what it pays to raise capital and what it collects from borrowers. That difference, the net interest margin, climbed to 4.92 percentage points in the second quarter, up 0.32 from the first quarter of 2008. As of July 25, the stock showed a yield of 4.67%.
"You've felt it your entire life, that there's something wrong with the world. You don't know what it is, but it's there, like a splinter in your mind, driving you mad.

“The war we fight today is more than a military conflict,” Mr Bush said. “It is the decisive ideological struggle of the 21st century.”


You are a slave..., like everyone else you were born into bondage. Into a prison that you cannot taste or see or touch. A prison for your mind."
Omega

User ID: 411146
United States
07/29/2008 12:44 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
The reason JP Morgan is on the list.

[link to www.godlikeproductions.com]
Handguns are a skill; shotguns an art; rifles a science.
_____________________________________
Democracy is two wolves and a sheep voting on whats for dinner.

Disarmament is the precursor to Genocide.

Better to take action now rather than chances later. Your choice.
UnwanteDreams  (OP)

User ID: 404735
United States
07/29/2008 12:48 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
The reason JP Morgan is on the list.

[link to www.godlikeproductions.com]
 Quoting: Omega

Great thread, still reading, thanks!
"You've felt it your entire life, that there's something wrong with the world. You don't know what it is, but it's there, like a splinter in your mind, driving you mad.

“The war we fight today is more than a military conflict,” Mr Bush said. “It is the decisive ideological struggle of the 21st century.”


You are a slave..., like everyone else you were born into bondage. Into a prison that you cannot taste or see or touch. A prison for your mind."
Is45

User ID: 294391
United States
07/29/2008 12:52 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
The reason JP Morgan is on the list.

[link to www.godlikeproductions.com]

 Quoting: Omega





hf
~~~~~~~~~~~~~~~~~~~~
Beyond, There Be Dragons
~~~~~~~~~~~~~~~~~~~~
Anonymous Coward
User ID: 148742
United States
07/29/2008 12:53 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
The reason JP Morgan is on the list.

[link to www.godlikeproductions.com]

Great thread, still reading, thanks!
 Quoting: UnwanteDreams


Yeah, still reading. LONG thread, but great info.
Unwanted, how are you doing?
Omega

User ID: 411146
United States
07/29/2008 12:55 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
The reason JP Morgan is on the list.

[link to www.godlikeproductions.com]

Great thread, still reading, thanks!
 Quoting: UnwanteDreams


Thanks. JP is the bagholder of last resort. In fact, I know it's crazy, but if you are worried about your money in the bank I would go with them. The fucking enemy,lmao....
Handguns are a skill; shotguns an art; rifles a science.
_____________________________________
Democracy is two wolves and a sheep voting on whats for dinner.

Disarmament is the precursor to Genocide.

Better to take action now rather than chances later. Your choice.
UnwanteDreams  (OP)

User ID: 404735
United States
07/29/2008 12:55 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
The reason JP Morgan is on the list.

[link to www.godlikeproductions.com]

Great thread, still reading, thanks!


Yeah, still reading. LONG thread, but great info.
Unwanted, how are you doing?
 Quoting: markusmaximus

I'm doing well Max thanks for asking. You? I have been lurking seen some good post from you.
"You've felt it your entire life, that there's something wrong with the world. You don't know what it is, but it's there, like a splinter in your mind, driving you mad.

“The war we fight today is more than a military conflict,” Mr Bush said. “It is the decisive ideological struggle of the 21st century.”


You are a slave..., like everyone else you were born into bondage. Into a prison that you cannot taste or see or touch. A prison for your mind."
Anonymous Coward
User ID: 148742
United States
07/29/2008 12:56 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
The reason JP Morgan is on the list.

[link to www.godlikeproductions.com]

Great thread, still reading, thanks!


Yeah, still reading. LONG thread, but great info.
Unwanted, how are you doing?

I'm doing well Max thanks for asking. You? I have been lurking seen some good post from you.
 Quoting: UnwanteDreams


Lurking a bit myself. =)
UnwanteDreams  (OP)

User ID: 404735
United States
07/29/2008 01:10 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
Holy shit I've been pinned hiding
"You've felt it your entire life, that there's something wrong with the world. You don't know what it is, but it's there, like a splinter in your mind, driving you mad.

“The war we fight today is more than a military conflict,” Mr Bush said. “It is the decisive ideological struggle of the 21st century.”


You are a slave..., like everyone else you were born into bondage. Into a prison that you cannot taste or see or touch. A prison for your mind."
Anonymous Coward
User ID: 473298
United Kingdom
07/29/2008 01:12 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
The reason JP Morgan is on the list.

[link to www.godlikeproductions.com]

Great thread, still reading, thanks!


Thanks. JP is the bagholder of last resort. In fact, I know it's crazy, but if you are worried about your money in the bank I would go with them. The fucking enemy,lmao....
 Quoting: Omega


Please people for the love of God....never take financial advice from this retard.
Omega

User ID: 411146
United States
07/29/2008 01:19 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
The reason JP Morgan is on the list.

[link to www.godlikeproductions.com]

Great thread, still reading, thanks!


Thanks. JP is the bagholder of last resort. In fact, I know it's crazy, but if you are worried about your money in the bank I would go with them. The fucking enemy,lmao....


Please people for the love of God....never take financial advice from this retard.
 Quoting: Anonymous Coward 473298



Sorry binky. I gots the facts on my side.

And you know it...troll.

Been trolling all my posts now for two days. Did I like....fuck you up in a previous thread Loose Cannon????

Buwhahahahahahhahaahhaahaah......
Handguns are a skill; shotguns an art; rifles a science.
_____________________________________
Democracy is two wolves and a sheep voting on whats for dinner.

Disarmament is the precursor to Genocide.

Better to take action now rather than chances later. Your choice.
LouisWinthorpeIII

User ID: 384893
United States
07/29/2008 01:36 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
The REAL winners will be the Blackstone group & Carlyle group.

Come on, who do you think is going to clean house here?
"I don't know which was scarier...the speech...or the Congress cheering it. He evoked Lincoln. Whenever a President is going to get us into serious trouble...they always use Lincoln."
-2010
Anonymous Coward
User ID: 473298
United Kingdom
07/29/2008 01:56 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
The reason JP Morgan is on the list.

[link to www.godlikeproductions.com]

Great thread, still reading, thanks!


Thanks. JP is the bagholder of last resort. In fact, I know it's crazy, but if you are worried about your money in the bank I would go with them. The fucking enemy,lmao....


Please people for the love of God....never take financial advice from this retard.



Sorry binky. I gots the facts on my side.

And you know it...troll.

Been trolling all my posts now for two days. Did I like....fuck you up in a previous thread Loose Cannon????

Buwhahahahahahhahaahhaahaah......
 Quoting: Omega


Im just saying you shouldnt give out financial advice when you do not have the necessary qualifications. I am fairly certain that is illegal. You should post a disclaimer.
Omega

User ID: 411146
United States
07/29/2008 02:00 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
The reason JP Morgan is on the list.

[link to www.godlikeproductions.com]

Great thread, still reading, thanks!


Thanks. JP is the bagholder of last resort. In fact, I know it's crazy, but if you are worried about your money in the bank I would go with them. The fucking enemy,lmao....


Please people for the love of God....never take financial advice from this retard.



Sorry binky. I gots the facts on my side.

And you know it...troll.

Been trolling all my posts now for two days. Did I like....fuck you up in a previous thread Loose Cannon????

Buwhahahahahahhahaahhaahaah......


Im just saying you shouldnt give out financial advice when you do not have the necessary qualifications. I am fairly certain that is illegal. You should post a disclaimer.
 Quoting: Anonymous Coward 473298



Don't back up now fool-you were a man a minute ago.

Operative word.

I.

Such as...

I would go with them.

Dumbass.

I have stated several times on this board I am not providing financial advice and in fact on several occasions have been asked directly to provide it and have declined.
Handguns are a skill; shotguns an art; rifles a science.
_____________________________________
Democracy is two wolves and a sheep voting on whats for dinner.

Disarmament is the precursor to Genocide.

Better to take action now rather than chances later. Your choice.
Anonymous Coward
User ID: 406027
United States
07/29/2008 02:02 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
The reason JP Morgan is on the list.

[link to www.godlikeproductions.com]
 Quoting: Omega


JP Morgan Chase has always been JP Morgan Chase but recently, Bank One changed its name, suddenly, to Chase Bank, and now you know that a long time ago, JP Morgan gave subsidary names to all of his Banks, and now JP Morgan Chase feels safe enough to change the Bank One names back to its Principle, JP Morgan Chase.
Anonymous Coward
User ID: 473298
United Kingdom
07/29/2008 02:08 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
The reason JP Morgan is on the list.

[link to www.godlikeproductions.com]

Great thread, still reading, thanks!


Thanks. JP is the bagholder of last resort. In fact, I know it's crazy, but if you are worried about your money in the bank I would go with them. The fucking enemy,lmao....


Please people for the love of God....never take financial advice from this retard.



Sorry binky. I gots the facts on my side.

And you know it...troll.

Been trolling all my posts now for two days. Did I like....fuck you up in a previous thread Loose Cannon????

Buwhahahahahahhahaahhaahaah......


Im just saying you shouldnt give out financial advice when you do not have the necessary qualifications. I am fairly certain that is illegal. You should post a disclaimer.



Don't back up now fool-you were a man a minute ago.

Operative word.

I.

Such as...

I would go with them.

Dumbass.

I have stated several times on this board I am not providing financial advice and in fact on several occasions have been asked directly to provide it and have declined.
 Quoting: Omega


Still I think you need a disclaimer. Here I am such a nice guy I will write one for you. Just copy and paste at the bottom of every post from now on and you should be fine :

The comments above are meant solely for entertainment purposes. Nothing above contains valuable or pertinent information on any subject. The author has been doped up for 40 years and now lives in his moms garden shed and works at McDonalds. Although incoherent and insane, he does not represent a danger to society and federal authorities need not be notified.
Omega

User ID: 411146
United States
07/29/2008 02:12 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
The reason JP Morgan is on the list.

[link to www.godlikeproductions.com]

Great thread, still reading, thanks!


Thanks. JP is the bagholder of last resort. In fact, I know it's crazy, but if you are worried about your money in the bank I would go with them. The fucking enemy,lmao....


Please people for the love of God....never take financial advice from this retard.



Sorry binky. I gots the facts on my side.

And you know it...troll.

Been trolling all my posts now for two days. Did I like....fuck you up in a previous thread Loose Cannon????

Buwhahahahahahhahaahhaahaah......


Im just saying you shouldnt give out financial advice when you do not have the necessary qualifications. I am fairly certain that is illegal. You should post a disclaimer.



Don't back up now fool-you were a man a minute ago.

Operative word.

I.

Such as...

I would go with them.

Dumbass.

I have stated several times on this board I am not providing financial advice and in fact on several occasions have been asked directly to provide it and have declined.


Still I think you need a disclaimer. Here I am such a nice guy I will write one for you. Just copy and paste at the bottom of every post from now on and you should be fine :

The comments above are meant solely for entertainment purposes. Nothing above contains valuable or pertinent information on any subject. The author has been doped up for 40 years and now lives in his moms garden shed and works at McDonalds. Although incoherent and insane, he does not represent a danger to society and federal authorities need not be notified.
 Quoting: Anonymous Coward 473298



Yawn......man that Garden Shed and McDonalds spiel is getting old, can you like pick up the pace a little troll as time is money, and critiquing your posts, you gots neither.
Handguns are a skill; shotguns an art; rifles a science.
_____________________________________
Democracy is two wolves and a sheep voting on whats for dinner.

Disarmament is the precursor to Genocide.

Better to take action now rather than chances later. Your choice.
UnwanteDreams  (OP)

User ID: 404735
United States
07/29/2008 02:16 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
Yawn......man that Garden Shed and McDonalds spiel is getting old, can you like pick up the pace a little troll as time is money, and critiquing your posts, you gots neither.
 Quoting: Omega


Man you LS and Pac have some of the most dedicated fans. What's your secret:?
"You've felt it your entire life, that there's something wrong with the world. You don't know what it is, but it's there, like a splinter in your mind, driving you mad.

“The war we fight today is more than a military conflict,” Mr Bush said. “It is the decisive ideological struggle of the 21st century.”


You are a slave..., like everyone else you were born into bondage. Into a prison that you cannot taste or see or touch. A prison for your mind."
Omega

User ID: 411146
United States
07/29/2008 02:19 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
Yawn......man that Garden Shed and McDonalds spiel is getting old, can you like pick up the pace a little troll as time is money, and critiquing your posts, you gots neither.


Man you LS and Pac have some of the most dedicated fans. What's your secret:?
 Quoting: UnwanteDreams



Experience. LMAO.

This specific troll has attacked pinned threads I have been on for 2 days now. He got spanked hard yesterday, he's out for revenge.

Either it's Loose Cannon on a proxy.

Or someone trying to chill real truth.

Or merely some fucking idiot without a clue.
Handguns are a skill; shotguns an art; rifles a science.
_____________________________________
Democracy is two wolves and a sheep voting on whats for dinner.

Disarmament is the precursor to Genocide.

Better to take action now rather than chances later. Your choice.
Anonymous Coward
User ID: 475490
United States
07/29/2008 02:23 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
It seems odd/strange to me that JPMorgan would be touted as a winner when, on March 31, 2003, it led the pack of banks with the most derivatives, having $70.8 TRILLION on its books.
.
itdincor

User ID: 434253
United States
07/29/2008 02:35 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
It seems odd/strange to me that JPMorgan would be touted as a winner when, on March 31, 2003, it led the pack of banks with the most derivatives, having $70.8 TRILLION on its books.
.
 Quoting: Anonymous Coward 475490


I'd like to read an explanation of that.

hayseed
Omega

User ID: 411146
United States
07/29/2008 02:38 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
It seems odd/strange to me that JPMorgan would be touted as a winner when, on March 31, 2003, it led the pack of banks with the most derivatives, having $70.8 TRILLION on its books.
.


I'd like to read an explanation of that.

hayseed
 Quoting: itdincor


It's in the link I provided in this thread.

JP Morgan IS the Fed, they will game the system so they take all the marbles. It will not be allowed for them to be exposed to be on the wrong side of a derivatives trade.

Hence their acquisition of Bear Stearns, who was on the hook betting heavily in such instruments of doom.
Handguns are a skill; shotguns an art; rifles a science.
_____________________________________
Democracy is two wolves and a sheep voting on whats for dinner.

Disarmament is the precursor to Genocide.

Better to take action now rather than chances later. Your choice.
Anonymous Coward
User ID: 473298
United Kingdom
07/29/2008 02:40 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
Yawn......man that Garden Shed and McDonalds spiel is getting old, can you like pick up the pace a little troll as time is money, and critiquing your posts, you gots neither.


Man you LS and Pac have some of the most dedicated fans. What's your secret:?



Experience. LMAO.

This specific troll has attacked pinned threads I have been on for 2 days now. He got spanked hard yesterday, he's out for revenge.

Either it's Loose Cannon on a proxy.

Or someone trying to chill real truth.

Or merely some fucking idiot without a clue.
 Quoting: Omega


You dont get spanked on a message board u goon. There is no street cred here. Its just a crappy forum. Sorry I pick on you so much. Its just fun u know. Besides I think u enjoy it. You are kinda like that girl who only dates men who beat the shit out of her because it confirms her own negative self worth.
Omega

User ID: 411146
United States
07/29/2008 02:47 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
Yawn......man that Garden Shed and McDonalds spiel is getting old, can you like pick up the pace a little troll as time is money, and critiquing your posts, you gots neither.


Man you LS and Pac have some of the most dedicated fans. What's your secret:?



Experience. LMAO.

This specific troll has attacked pinned threads I have been on for 2 days now. He got spanked hard yesterday, he's out for revenge.

Either it's Loose Cannon on a proxy.

Or someone trying to chill real truth.

Or merely some fucking idiot without a clue.


You dont get spanked on a message board u goon. There is no street cred here. Its just a crappy forum. Sorry I pick on you so much. Its just fun u know. Besides I think u enjoy it. You are kinda like that girl who only dates men who beat the shit out of her because it confirms her own negative self worth.
 Quoting: Anonymous Coward 473298



Oh now it's just a crappy forum huh, yet you spend the time to troll and post useless drivel on it.

I see how you are.


Be that as it may, my *self worth* far surpasses what you are capable of intellectually , morally, spiritually, and yes, materialistically.

Get a fucking job you socialistic coward that sucks on the dry tit of the system that owns you, namely the government of the UK.

It will be your undoing.



So carry on troll, while I LMAO at the helplessness of your condition.
Handguns are a skill; shotguns an art; rifles a science.
_____________________________________
Democracy is two wolves and a sheep voting on whats for dinner.

Disarmament is the precursor to Genocide.

Better to take action now rather than chances later. Your choice.
Anonymous Coward
User ID: 475461
United States
07/29/2008 02:51 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
You dont get spanked on a message board u goon. There is no street cred here. Its just a crappy forum. Sorry I pick on you so much. Its just fun u know. Besides I think u enjoy it. You are kinda like that girl who only dates men who beat the shit out of her because it confirms her own negative self worth.
 Quoting: Anonymous Coward 473298

Why do you stupid trolls insist on screwing up perfectly good threads?

Please, get a life.
Anonymous Coward
User ID: 473298
United Kingdom
07/29/2008 03:15 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
Yawn......man that Garden Shed and McDonalds spiel is getting old, can you like pick up the pace a little troll as time is money, and critiquing your posts, you gots neither.


Man you LS and Pac have some of the most dedicated fans. What's your secret:?



Experience. LMAO.

This specific troll has attacked pinned threads I have been on for 2 days now. He got spanked hard yesterday, he's out for revenge.

Either it's Loose Cannon on a proxy.

Or someone trying to chill real truth.

Or merely some fucking idiot without a clue.


You dont get spanked on a message board u goon. There is no street cred here. Its just a crappy forum. Sorry I pick on you so much. Its just fun u know. Besides I think u enjoy it. You are kinda like that girl who only dates men who beat the shit out of her because it confirms her own negative self worth.



Oh now it's just a crappy forum huh, yet you spend the time to troll and post useless drivel on it.

I see how you are.


Be that as it may, my *self worth* far surpasses what you are capable of intellectually , morally, spiritually, and yes, materialistically.

Get a fucking job you socialistic coward that sucks on the dry tit of the system that owns you, namely the government of the UK.

It will be your undoing.



So carry on troll, while I LMAO at the helplessness of your condition.
 Quoting: Omega


Meanwhile you spend your time raving about squirrels and buying airguns. Great.
Anonymous Coward
User ID: 475490
United States
07/29/2008 03:22 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
It seems odd/strange to me that JPMorgan would be touted as a winner when, on March 31, 2003, it led the pack of banks with the most derivatives, having $70.8 TRILLION on its books.
.
----------------
I'd like to read an explanation of that.
 Quoting: itdincor


If you know what derivatives are, there is no need for an explanation. Closet I can come to describing it is they were $70.8 trillion in the hole without enough assets to cover it when the bill comes due.

The other evening on PBS, I heard some guy saying that Bank of America was OK. Well, on March 31, 2003, they were the third on the list of banks with outstanding derivatives, with the amount of a whopping $28.5 TRILLION on its books.

Let's hear it for the "winners"? The banking public will become all too painfully aware that they are the losers in this game when their retirement funds (pensions and 401Ks) aren't there for them. Money gone. Just like the Enron deal.

The last I read, there are $500 TRILLION in derivatives, up $100 trillion from March 2003, more than 7 times the world economy. It is for this reason that our founding fathers were wise enough to refuse a central bank.
.
Anonymous Coward
User ID: 471491
United States
07/29/2008 03:29 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
bsflag
Anonymous Coward
User ID: 300370
United States
07/29/2008 03:50 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
OMEGA!! I LOVE YOUR POSTS!!

hf
Kanigo2

User ID: 442313
United States
07/29/2008 03:53 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
OMEGA!! I LOVE YOUR POSTS!!

hf
 Quoting: Anonymous Coward 300370



That would Officially be the smallest post in here.

Yet the most relevant.
Alt+F4 Allows GodLikeProductions User to Check Current score in Thread Dialog.

"GLP has some batty shit, but yours takes the fucking biscuit "-Disputed-

Hurray for Anarchy! This is the happiest moment of my life.
Anonymous Coward
User ID: 474555
United States
07/29/2008 05:59 PM
Report Abusive Post
Report Copyright Violation
Re: 5 big winners in the banking crisis!
Talks about which Banks are going down:






GLP