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alstry (35.42)

Who is Warren Kidding????

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May 04, 2009 – Comments (5)

It seems like everyone is talking their book these days.

Even Warren!!!!!!!

He goes out of the way this weekend to say how good Wells Fargo's business really is....how much better off it is compared to other banks.....but everyone knows it is saddled with defaulting CA loans all over the place....

Now this from the AP:

Wells Fargo asked to raise money after stress test

Government stress tests show Wells Fargo needs more money to survive deeper recession

 

If you can't trust Warren anymore....who can you trust????

5 Comments – Post Your Own

#1) On May 04, 2009 at 4:25 PM, dudemonkey (38.50) wrote:

I think this was addressed elsewhere.  The stress tests are a one-size-fits-all test designed to test banks heavily involved in derivatives.  I don't think WFC falls into that category, so it won't perform well in the stress test.  It's likely that the stress test is BS anyway.

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#2) On May 04, 2009 at 5:29 PM, mliu01 (< 20) wrote:

Face it, this country is full of crooks and liars.

It has been for a while. Now they don't even hide it anymore.

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#3) On May 04, 2009 at 5:33 PM, motleyanimal (81.46) wrote:

What happened today is that people realized that even if all the stressed out banks have to raise capital, they will have no difficulty getting it. Just look at all the money the commercial REITs were able to raise just a few weeks ago. Amazing!

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#4) On May 04, 2009 at 5:58 PM, DarthLordZ (< 20) wrote:

D T A

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especially Alstry

 

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#5) On May 04, 2009 at 8:42 PM, JibJabs (90.30) wrote:

Who are you going to trust more for analyzing the viability of a business: Warren Buffett or the U.S. Government?

 "We're from the U.S. Government and we're here to help." 

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