1. WFC said repeatedly it didn't need TARP. The Fed's stress test proved it did ... and then some.
2. WFC has benefited greatly from relaxed accounting standards. No stockholder can really assess if the bank is in good shape, bad shape, or whatever. Stockholders need clarity to make informed decisions whether to hold, buy more, or sell ... not opaqueness.
3. WFC swallowed a toxic waste dump called WB, which previously swallowed a toxic waste dump called GW. No stockholder can really know if the write-downs are adequate.
4. WFC has been dead money/negative money since WB shareholders got their shares. No one knows what the future holds with WFC, or re financials. As always, it is logical and prudent to weigh this investment against other potential ones, evaluating such factors as risk, reward, and opportunity cost.
5. WFC's credibility has been damaged by its own ARS fiasco.
6. WFC's credibility has been damaged by giving Bob Steel a director position, the former WB CEO being investigated by the SEC.
7. WFC's message board is more of a war zone than it is a mb. This is in stark contrast to WB's old mb. Dawg and I compared independent notes/observations re this fact before year end 2008. Because of this, Dawg had no interest in posting on it, and still does not.
8. Dawg and I are of like minds regarding the many pumpers/shills on this board. Dawg has said that he agrees with this assessment of mine in no uncertain terms.
9. Dawg was distressed when his post speaking up on my behalf was deleted, as so many of mine have been. He then emailed and shared with me his disappointment. He said he had tried to post again on my behalf, but had been blocked and was unable to do so.
10. One poster, and one poster only (using an alias), has demonstrated how he can generate dozens of votes to support his ultra-pro WFC agenda, or attack anyone he chooses who does not share his bank-pumping agenda. In addition to these many votes having symbolic power for some, these votes also have real power by reporting alleged "abuse" to Yahoo and therefore likely blocking posters from posting in the future ... either temporarily or permanently ... once a certain threshold of “reports” is surpassed.
11. Propaganda in a post entitled "Gus' rating system"fails to mention several salient facts which belie his assertions. Namely, my opponents often have more stars in threads than I do, or than those who support me. Other long threads exist on this mb with many dozens of votes per post (at times 100+ votes per post) ... and these posts are often rated exactly 3-stars, regardless of the poster. Also, interestingly, he fails to mention his proven and repeated ability to rapid fire vote up to 30 votes in 10 minutes ... Odd that he excludes these salient facts, ain't it! ... Or is it! -- The same poster insinuates that Dawg and I are the same person!
12. I am sincere about my concerns about this bank, and financials in general ... vs. alternative investments. Dead money/negative money for an extended period of time is unacceptable to me and likely others, given other investment options.
13. Many stock investors have become skeptical about claims made by those in charge of corporations. Long is the list of companies whose stockholders have suffered by implicitly trusting whatever management tells them ... as shareholders have ended up being misled, spun, or outright lied to ... on any number of substantive matters re the “health” of a company.
14. I am long WFC. I am not short. And I am not a trader. I monitor the markets, analyze data (both macro and micro), ask questions and arrive at informed viewpoints. One of the questions I ask is "Why?" ... regarding all these points above.
15. I am skeptical and inquisitive by nature. Life's experiences have reinforced this propensity of mine. ... Skepticism is preferable to naivety.
Hey, WFC posters!
Check it out.
This main page.
The scurrilous shill(s) gushead/dorishead/dawghead/henriettahead/ and all of his many other scores of mega-voting, mega posting, double-posting, star-posting aliases are at it again...
....busy posting his posts twice so that everyone can make no mistake his itinerary on this board....
....making all of his posts identical to each other and very predictible....
....and accusing people of being who they're not.
Whoever you want us to be!
Sorry Gus...just because you say an email exists...does not make it so...kind of like the tree falling in the woods deal...
I have not accused BG or Dawg of doing anything...just you Gus. No need to drop names, it won't help make you any more credible.
Unlike you, I do not consider you three inseparable - you are each individually responsible for what you post - and I am calling you on the carpet there big guy.
Now maybe you did not mean to fabricate it - it was one of those things that got posted in the heat of the moment....perhaps you had a few spritzers with dinner and got a bit aggressive in your postings - these things happen. No need to feel ashamed Gus, just admit to it and we can move on.
Some of the comments that he's made under one of his army of alter-egos showed that he was lurking and posting for the WFC board for quite some time prior to the summer of 2008.
Some of buggies language and lack of logic sound just like Gussie.
Bridge, I don't think Bugyodel was Gus. Bug was posting here back in early 2008 when Gus was still pushing people around on the old WB board.
If Gus comes back as douche.bag, I may just have to break the rules and give him 5 stars. That would be funny.
Welcome back, BTW. I hope your vacation was great.
The profitability of "tarp" to the US government is only a scorekeeping distraction from the real benefit of tarp, which can only be measured in strength and speed of economic recovery.
If the banks lead the rest of the economy out of the current situation, the economic benefits will be huge compared to whatever the banks paid to redeem the warrants. The griping about whether bank xyz "paid enough to redeem its warrants", or "whether it got a good deal at the expense of the taxpayers" is not even a rational argument, and obscures the relevant point.
The current Treasury Secretary seems bright enough to understand this.