Bankers agina and indigestion is once again from bourgouise overindulgence at Uncle Sam's trough. Souiee souie to all Bankers; Robinhood, Superman and Zorro will cook your children for a yankee capitalist dinner. Brosch brains!.
Investors Bank Corp would have failed for the third time if not for governmental assistance. I will use dollars instead of water closet paper.
In reality, the Federal government of U$A change the rules after the game started. I was short the banks and would have made great profit but the bailout raised the share value of financial stocks.
Bankers were able sell their options at high value and were assured of their salaries plus benifits.
Uncle Sam lied in the 1960's to the hippie generation.
When I first sold ISBC short two years ago, it was worse than rotten milk, per se comparison to WM wamu, AIG, FRE, LEH, MER, C citi, COf...... nevertheless it has not marked down the mortgage portfolio and the others share price has fallen 80% or more. The discourse on sub-prime does on interest me. What worries me is the use of borrowed money to support the stock price, and then, the stock price is used for loan collateral.
The bank examiner wants to capitalize the shares bought-back, at a value equal to book value, because, the stock price appreciated or went-up when the holding company bought the shares, some of which were purchased with proceeds from the bond sale to investors/suckers,loosers.
P.s. I am now handling the prose and composition for Brennzn. Jack
“The most significant strength we have is our size,” says Cummings, 53, who became CEO of the 81-year-old bank in January. With $820 million of capital, including $510 million from an IPO last October, Cummings says the bank has plenty of lending power to spare.
Mark Fitzgibbon, director of research at financial advisory services firm Sandler O’Neill in New York City, says the bank “has a lot of excess capital at a time when other banks are struggling, retrenching and ceding business.” On April 29, Fitzgibbon put a 12-month price target of $16 on shares of the bank’s holding company, Investors Bancorp Inc., which currently trade around $14, near the high end of its $11.46 - $15.80 range.
talanted management and the article's cover picture of P.T. Barnum wearing a tie and sitting behind the president's desk at Investor Bank needs that circus promoter's motto hanging on the wall "A Sucker is Born Every Minute."
Remember I am working while you are sitting on the bleachers at the ball park probably choking on a coney island weiner when you remember the PE is 120 and earnings will drop sustantially unless CitiBank refunds for the Falcon Hedge however ISBC wil have to refund for those AAA veniered mortgage traunches and are stuck with the packaged bundles they bought last two years from Stein Stien and Sons which will depriciate 25% next Tuesday. Bankruptcy about the time of the world series; Leaches win over Pigs who beat Taxpayers.
I am a looser financially but a foundation of ethical society, comrade BRENNZN
Insolvent and bankrupt soon; no capital including ISBC stock purchased with bond/loans, and, depreciated mortgages on rotting buildings.
Are you ready for a sexual harrASSment charge.
Please be ready to drive me to the landfill, I need to throw-up(vomit).
ISBC is incredible, it even trades against the industry beta since August. It isn't controled by a lot of insiders and it doesn't have a large short interest. Very puzzeling stock. I have a short position, and can only say that this stock looks strong on light volume--even when it appears to fall again. Any thoughts as to what is going on with POS?
Neil, yes management of the holding company is buying stock to support their holodings using borrowed money. Two summers ago, they sold bond to investors and usded the proceeds to buy back stock. Last year over night repo and swaps were used. This year they are borrowing money from the mortgage crisis programs for purpose of buying back stock, specifically the CMO they purchased from other banks last three years were used for collateral with the US Treasury.
This bank will collapse with bankruptcy.
brother BRENNZN EEE