....if the results of the tests were all rosey and asked nothing more of them? Obviously they have a problem with the way the tests came out. The fact that it's happening says ...well, that it's happening! Can't deny that point. Here we are delayed again. It's like a kid trying to hide his report card from his parents because he has lousy marks. Eventually it comes out.
The gov't wants the results to look as bad as possible. And how would those bean counters even know what they're looking at. It reminds me of that line in Seinfeld when Kramer got fired "it's almost like you have no business training at all".
Anyway, Obama loves this shit. Don't forget he's our savior.
According to Kudlow and his roundtable of dumbf^@ks, all of the bad news is priced into the market and we're heading to 10,000. Quotes were 9000 is "likely" and 10,000 is "plausible".
I will never believe anything a bank CEO ever says again. It's probably safe to say that everything that comes out of their mouths is a damn lie.
Hell yes, they have a lot to hide from the public and no doubt that is what the debate is about that caused the delay regarding stress test reporting.
No doubt about it!
Ever notice that whenever Ken Lewis talks he starts to cough ...cuh cah, cuh cah ...It's a fact that when a person is lying their body tenses up and constricts. This can lead to tightening of the throat muscles causing one to cough or their voice screech while speaking. It can also cause an itchy sensation which is why liars often scratch their noses or chins. His body language is all wrong.
Trust me ...I've bought and sold millions of shares of BAC for profit. That's a whole other thing. But when it comes to the CEO of BAC ... I don't like his body language one bit. You can take that to the bank.
this is almost as bad as DNDN
with its halt...drop...then rise...
no matter what happens....stocks refuse to go down...even
today...even last 5 minutes....
we get crysler bankrupt, banks in georgia and nj close...yet
we never seem to have a day where stocks are down 300.
Oh, but look at all the GOOD news we've had this week!
- Factory orders were down less than last month
- GDP only contracted at an annualized rate of 6.1%, down from 6.3% last quarter
- initial claims was 630k, down from last week
- The Consumer Confidence Index was all the way up to 39 - sure that's down more than 70% from '07, but at least it's no longer at historical lows
- Consumer spending was up as people spent their tax refunds on things they needed but couldn't afford last quarter...fewer of them have jobs now, and there won't be as many tax refunds next quarter, but it shows that they're more willing to spend than before
We're seeing green shoots all over the economy! The market looks 6-9 months ahead, and...and...*bursts into a fit of explosive laughter*
I'm sorry, but I couldn't do it with a straight face! It's astounding what they're trying to spin as "good" news these days. There isn't any *real* good news to be found anywhere, so they're desperately trying to grasp at straws. If it's bad, but it's not quite as bad as the last report, or if the average analyst thought it was going to be even worse, that means it's good.
Oh, wait, I know - all the bad news is "priced in" with stocks valued at approximately the historical *average*, and double the typical bottom for a bear market, because if they're 45% cheaper than they were at the top of a speculation bubble, then they're cheap. Tell that to the Japanese. ROTFLMAO
That down day always comes. Always. I like up days too but after a certain number of them I used to go to cash before discovering short vehicles. Down days are necessary before the market can move forward sustainably. It's just the way it is.
I was about to point out the same thing! Why would the banks be arguing with the results, to the point where the announcement had to be delayed, if the results cast them in a favorable light or didn't force them to dilute? Obviously, there is a lot that the banks are NOT happy about with the stress test results, and you can bet that it's not that they feel that regulators were too easy on them. And this, given that the "more adverse case" now sounds like a reasonable forecast, perhaps on the optimistic side.