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abitare (99.34)

My Citibank and BAC Pitch

Recs

9

February 23, 2009 – Comments (3) | RELATED TICKERS: BAC , C

Don't let some liars on TV convince you that "no one saw it coming".

Plenty of people did, especially here in Fooldom.

Look at the My Top Bear pitch on Citibank

From $21.17 to $2.14 a share.

abitare 3/27/08 5:35 PM


All our times have come
Bear Sterns but now they're gone
Investment Banks don't fear the reaper
Nor do the wind, the sun or the rain
Citibank can be like they are

Come on Citibank... Don't fear the Reaper
Citibank take my hand... Don't fear the Reaper
Your to big to fly... Don't fear the Reaper
With Helicopter Ben...

LTCM is done
Bear Sterns but now they're gone
Bear Sterns and JP Morgan
Are together in eternity...
Bear Sterns and JP Morgan

3,960 bankruptcies everyday... Like AHM and NetBank
3,960 bankruptcies everyday... Redefine happiness
Another 3,960 coming everyday...Citibank can be like they are

Come on Citibank... Don't fear the Reaper

Citibank take my hand... Don't fear the Reaper
Your to big to fly... Don't fear the Reaper
With Helicopter Ben...

Leveraged 32 to 1
Bear Sterns but now they're gone
BSC the last night of over leverage
And it was clear Bear Sterns couldn't go on
Then the door was open and the FED appeared
The Helicopter Ben blew then disappeared
The curtains flew then JP Morgan appeared
Saying don't be afraid

Come on Citibank... And Bear Sterns had no fear
And Bear Sterns took their January bonuses... Then they started to fly
They looked backward and said goodbye
Bear Sterns had become like they are
Bear Sterns had taken their bonuses
Bear Sterns had become like they are

Come on Citibank...don't fear the reaper  

BAC:

abitare

10/09/08 10:49 AM To big to Fail or to Big to Bail?

Seriously, they bought CFC and "merged" with MER and unloaded a bunch of common stock on some poor smuck common stock holders.

Either way you would have to be an uber idiot or gambling junkie in need of a "fix" to be the common stock bagholder here. 

 

3 Comments – Post Your Own

#1) On February 23, 2009 at 5:46 PM, DemonDoug (98.77) wrote:

My pitch on BAC on 1/11/08:

Pitch by: demondoug 1/11/08 1:38 PMReply | Report this postWhen LEND got bought out by a hedge fund type business last year, my score on LEND got killed. That company's intrinsic value was less than zero. Unfortunately, on CAPS we cannot short stupid moneyed hedge funds. However, we can indeed short stupid money insanely large banks. The deal that BAC is making for CFC is the absolute worst deal for BAC, although I believe that they are likely getting some favors in terms of the Federal Reserve and some likely tax breaks and/or government contracts. However, even with favors and favorable governmental policies towards your company, you need to execute your business plan. In this case? BAC's business plan is going to execute them.
---------I never had the guts to red thumb C.  But do I get extra credit for red-thumbing RYL 8 times over the past 2 years, starting in april of 2007? Report this comment
#2) On February 23, 2009 at 6:28 PM, DarkToast (90.90) wrote:

More cowbell!

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#3) On February 23, 2009 at 9:42 PM, milpo (95.49) wrote:

The facts speak for themself:

TOTAL TOTAL TOTAL CREDIT

TOTAL TOTAL FUTURES OPTIONS FORWARDS SWAPS OPTIONS DERIVATIVES SPOT

RANK BANK NAME STATE ASSETS DERIVATIVES (EXCH TR) (EXCH TR) (OTC) (OTC) (OTC) (OTC) FX

1 JPMORGAN CHASE BANK NA OH $1,768,657 $87,688,008 $1,442,086 $2,349,629 $8,949,110 $54,385,247 $11,384,205 $9,177,731 $218,733

2 BANK OF AMERICA NA NC 1,359,071 38,673,967 1,622,080 643,185 3,651,347 26,796,894 3,479,789 2,480,672 237,758

3 CITIBANK NATIONAL ASSN NV 1,207,007 35,645,429 253,586 432,226 5,071,607 20,210,646 6,737,581 2,939,783 536,543

4 WACHOVIA BANK NATIONAL ASSN NC 664,223 4,221,834 223,423 87,961 211,515 2,913,470 464,389 321,076 15,248

5 HSBC BANK USA NATIONAL ASSN DE 181,587 4,133,712 85,293 113,974 565,779 1,938,203 277,515 1,152,948 76,457

6 WELLS FARGO BANK NA SD 514,853 1,429,088 174,358 21,694 468,891 562,659 199,766 1,720 19,149

7 BANK OF NEW YORK MELLON NY 218,699 1,193,652 28,549 58,355 383,966 384,724 336,641 1,417 56,668

8 STATE STREET BANK&TRUST CO MA 276,291 869,294 2,054 713 786,206 17,927 57,249 5,145 54,802

9 SUNTRUST BANK GA 170,007 276,689 63,232 26,671 14,275 137,461 31,987 3,063 407

10 PNC BANK NATIONAL ASSN PA 134,780 198,478 26,441 12,500 6,079 124,859 23,660 4,940 1,580

11 NORTHERN TRUST CO IL 68,930 175,128 0 0 165,238 9,232 389 269 22,761

12 KEYBANK NATIONAL ASSN OH 97,811 136,302 20,652 4,400 15,325 79,430 8,805 7,690 1,277

13 NATIONAL CITY BANK OH 141,501 123,530 16,007 350 12,326 49,853 42,700 2,293 123

14 U S BANK NATIONAL ASSN OH 242,597 97,056 1,640 9,000 23,871 51,272 9,618 1,655 878

15 MERRILL LYNCH BANK USA UT 61,643 94,255 72,285 246 614 12,086 0 9,025 0

16 REGIONS BANK AL 139,556 80,094 13,964 3,500 1,222 59,482 1,487 439 7

17 BRANCH BANKING&TRUST CO NC 133,166 71,044 3,599 0 8,632 49,228 9,533 52 57

18 RBS CITIZENS NATIONAL ASSN RI 132,609 59,474 0 0 4,890 53,129 1,228 228 37

19 FIFTH THIRD BANK OH 67,318 58,101 94 0 8,999 39,367 9,333 308 863

20 LASALLE BANK NATIONAL ASSN IL 63,388 33,701 0 0 0 24,414 7,398 1,890 0

21 UNION BANK OF CALIFORNIA NA CA 62,431 33,557 2,361 0 4,371 18,303 8,522 0 1,059

22 UBS BANK USA UT 26,176 33,317 0 0 0 33,317 0 0 0

23 DEUTSCHE BANK TR CO AMERICAS NY 43,932 27,004 0 0 391 20,941 601 5,071 0

24 MORGAN STANLEY BANK NA UT 37,638 25,941 0 0 0 2,156 0 23,785 0

25 FIRST TENNESSEE BANK NA TN 32,587 24,546 287 0 10,870 11,200 2,189 0 2

TOP 25 COMMERCIAL BANKS & TCs WITH DERIVATIVES $7,846,461 $175,403,202 $4,051,991 $3,764,404 $20,365,524 $107,985,498 $23,094,585 $16,141,200 $1,244,408

OTHER COMMERCIAL BANKS & TCs WITH DERIVATIVES 2,703,969 438,563 6,816 2,869 58,678 290,590 72,421 7,188 1,523

TOTAL COMMERCIAL BANKS & TCs WITH DERIVATIVES 10,550,430 175,841,765 4,058,807 3,767,273 20,424,203 108,276,088 23,167,006 16,148,388 1,245,931

Note: Before the first quarter of 1995 total derivatives included spot foreign exchange. Beginning in the first quarter, 1995, spot foreign exchange was reported separately.

Note: Numbers may not add due to rounding.

Data source: Call Reports, schedule RC-L

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