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Got to give those guys some respect, they are saying fuck you to investing in psycho path banks.
Kudos to these guys, but much more of Wall Street should be out in front in calling out the TBTF system and Congress' unwillingness to do anything about it.
Wall Street has a lot more credibility making statements like this then capitalisms traditional critics. Those Wall Streeters who are silent are actively contributing to the degradation of the capitalist system and its replacement by the government/financial complex.
Vote with your wallet.
since when is selling electrons to each other for rapidly increasing prices not a productive sector of the economy.
"selling electrons to each other" - PERFECT!
I've done business with community banks my entire life and will continue to do so until there are no more community banks left.
the question is what do we do about it. derivatives are nothing more than a way of creating counterfeit money. they are a way of winning money the loser never had in the first place. it is like some sort of sick multiplayer game where hackers found a way of creating fake gold indistinguishable form real gold and then paid the developers to not fix the bug with freshly created fake gold.
This is excellent, and one more step needed to be taken by many more funds.
Remember Blago? "I've ordered my state agencies to NOT do business with Bank of America"
the next day, FBI raids his office.
Good luck to this man who has decided to vote with his wallet.
The Fed will rip that fund to shreds
They're too small. The sheeple are still trying to figure out how to hold their iPhone 4's. No one will notice but the same people who believe in the PPT.
Waiting for the first negative MSM stories featuring Appleseed Fund. Can't wait to hear if: a) someone 'betted against' housing and got rich shorting; b) someone 'betted against' the USA and got rich shorting; or c) old tried-and-true honeytrap and marriage/family problems.
I'm actually considering an account with them.
Johnny "Appleseed" is now wearing a big target on his back. I can see Geithner and Bernake loading their muskets now...
According to their website, the fund has 16% in cash, and 8.8% in GLD.
Oh well,it SEEMED like a good firm, until you posted the holdings.......8.8% GLD.(fake as Pam Andersons teats.)
I refuse to have any account that has an association that is continuosly screwing physical holders, and mkt playing, with shareholder funds, that continues to prop up the Squids.
Of course, most of these funds are clueless................
It's a shame that without the suspension of mark-to-market accounting, the regional banks would be insolvent, too.
Reminds me of a website I found a while back. The Free State Project http://freestateproject.org/
20,000 people are going to boycott losers and all move to the same area! "A new strategy for.... Liberty in our lifetime"
They're doing it in northeast Wyoming as well. www.freestatewyoming.org
Poor schmucks, makes it so much easier to get picked up........gather together, then it's a lot easier.
FITB, PNC etc. etc. are just BAC/WFC/JPM Lite, so if they're willing to invest with the regionals, I don't see much to applaud about.
Wow! There is some common sense investing.
If We The People were to organize and withdraw all deposits from the TBTF tomorrow before noon, we would see the emperor naked with his pin dick visible for all to see.
Lets see Ben & Timmy cover that up.
Good luck, as they have no way near enough cash to take care of one person...........if it's over 15-20k.
Would take them at least a week advance notice per depositor, to get it, and I bet some folks would be stationed there on a daily basis, taking names.
I would like a Prospectus.
Not to be too cynical, but how many TBTF banks fall into the mid-cap value universe?
god bless appleseed!!
Meredity is at it again and making some waves with her downgrades...and loose the dogs of war...
"Ahead of Q2 Results, Meredith Whitney Slashes Estimates on Goldman (GS), Morgan Stanley (MS)"
"Meredith now sees Goldman reporting Q2 EPS of $1.70, down from her previous estimate of $4.75 and compared to the current Street consensus estimate of $2.34. Q3 EPS estimate moves from $4.24 to $3.77, which compares to the Street estimate of $4.10. For FY10, Meredith is now expecting Goldman to report $15.70, down from $20 previously. The Street is looking for FY10 EPS of $16.76."
...hat tip to Jesse's Cafe Americain
Kesse, has had TWO great pieces this week,,,,,,Kudo's Jesse'!!!!!!!!!
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