TBTF bank stocks fall down and go boom:

[dixiegrrrrl]

just checked the reports..current price is left hand side of the 42 week range.

Citigroup, Inc
52wk Range: 28.11 - 51.50

JP Morgan Chase & Co
52 wk range: 34.33 - 48.36

AIG...WAY down in the range:
52wk Range: 22.35 - 62.87

Goldman Sachs Group
52wk Range: 115.00 - 175.34 ( now at 113 and dropping)

Morgan Stanley
17.55 - 31.04

Wells Fargo
23.02 - 34.25

and my personal favorite TBTF
Bank of America!
6.72 - 15.31
remember that in 2008 it was at 50.00!

Looks like AIG is falling almost as fast at BOA, and now is suing BOA, but Gee, will there be any money to collect if AIG prevails???

[DrDan]

1. it boggles my mind that there are those that are cheering the "collapse" of the market

there are "regular" folks who have their 401Ks and 403Bs invested and DUers are cheering their demise.

bizarre

[dixiegrrrrl]

4. Those investments have been artificially pumped up for a long time now

and used by hedge funds to gamble with.
Pension funds/retirement funds have been a huge source of "gambling" money, most of the profits have been only on paper.
Wise people have been encouraging pension fund investors to get out into something safer for a long time.

Sadly, I have dear friends who insist on being in denial of the dangers and have left all their money with their investment advisors, in stocks and ETFs which are teetering. One of them is planning on retiring early next spring.

surely by 2008 most people knew the market was rigged and pumped, and had enough sense to safely park their money elsewhere, in a credit union or local bank.

[bossy22]

7. and get .05% on interest?

you do know that means that you are actually losing "real buying power". Playing the market- whether equities, fixed-income, FOREX is a good idea for retirement. Investing your money in a bank who gives you almost 0% is not. Also what happens if you have %500,000 in a bank and the bank goes belly up?- you would end up with only $250,000 at the end of the day- a 50% loss.

There are dangers, yes, but thats why you diversify- some in stock, some in bonds, some in the money market, some in CDs.

The smart people back in 08 pulled all their money out of the market and then a few months later reinvested- thats what I did. Made a killing on Ford and Citigroup

[DrDan]

8. "Wise people" often have zero clout as to how their pension dollars are invested

For example, the Florida teacher's pension fund is controlled by 3 - the Governor, CFO, and Attorney General - all very right-wing conservatives.

Do you really think a teacher has any voice at all with these 3 regarding investment decisions of the Florida pension fund dollars?

[dixiegrrrrl]

13. Sadly true , that.

[aquart]

2. Someone posted an article saying this is a hedge fund crash.

http://www.atimes.com/atimes/Global_Economy/MH09Dj02.html

[louis-t]

3. And when the CEO of BoA comes crying to the public for help?

After the biggies at that bank have shown how much they hate their customers? After all the fee increases and dirty tricks to make it harder to pay on time? After all of the illegal foreclosures? After refusing to cooperate with HAMP and continuing to punish mortgagors? They will get no sympathy. I've been saying for a while: you can't keep pissing off your customers. That is NOT a good business model.

[dixiegrrrrl]

5. BOA is going to be gobbled up.

The consolidation of the banks has been going on for awhile, we saw that with WaMu and others in 2008.
The mortgages will be spun off into an insular division to be suit proof, the bank will be chopped up and sold.

Then the remaining banks will fight among each other to see who is next.

Sort of like mafia territory wars.

[bossy22]

6. BOA is too big

there is no bank in the world that has enough capital on hand to purchase the 2.4 trillion dollars worth of assets that BOA has

[dixiegrrrrl]

9. Paper assets.

which is true of all the TBTF banks...all that "money" is illusory, just like all those "good" mortgages that were sold over and over and over to different trusts.

[bemildred]

10. They are going to be butchered and auctioned off.

And they won't bring much.

[dkf]

12. Sell Merrill Lynch maybe?

[dkf]

11. Back to the good ole days of weak financials.

Not good.