Lights Out!

The lights are out for Bank of America Corp. It’s time to turn on the emergency lights to see what’s left of them. The company had reported the first quarterly loss in about 17 years. The lost is mostly their own doing, because of their backroom deals with the U.S. Government to take over Merrill Lynch, which was a bad idea. Their bad choice making has also hurt Wall Street over the many months. Now I read the U.S. Government is handing them a multibillion-dollar lifeline. This lifeline is a thank you for taking over Merrill Lynch, which lost a record $15.31 billion in just one quarter. This is really bad business by our owe government, and these backroom deals should never happen again. Right now we have banks threaten to go bankrupt unless we help. I say let them, then the government can come in and take over the bank, we’re going to own them in no time anyways. I’m just getting sick of banks, it’s time to sleep with our money.

Tags: Banks

Buying Banks!

It looks as the U.S. Government is getting ready to buy into a few banks. They will be starting with $250 billion of the $700 billion. They funds will be to purchase the banks stock, not loans. This means when the banks stock goes up, we Americans will make money. I vote sell once we make 25 percent, can I do that. And when will I get my check? Wait, it’s the U.S. Government, I’ll never see a check. They will down the road just ask for more money when these companies’s get in trouble again. Or save it when it comes time to bail out the auto industry, because they’re next. Anyway, I think this is the best chance at us making our money back. Another thing to remember here, if these banks fail, we loose, or will we. It’s the U.S. Government; they’ll just print more money until it becomes useless, like their doing for this bailout. Let’s hope for the best, and let’s hope for another big day on Wall Street.

Tags: Banks, Wall Street

Buying Banks!

It looks as if the U.S. Government is getting into the banking business again. The U.S. Treasury Secretary Henry Paulson said Friday that they would be purchasing stock in financial institutions. This move is to free up cash and give these banks a good source of lending power. This is all part of the move of the $700 billion measure Congress passed last week. And this type of move isn’t the first time the U.S. Government has done this. The last time it was done was during the Great Depression. So know we all know how bad things are. Hopefully this will also stop the decline with the Dow, which has dropped 40 percent in a year. I would also like to add that if this doesn’t work I’m going to invest in energy pills, because this is what we’ll all be eating to stay alive. Like most Americans out there, we’ve all seen our money fly away in our 401k’s and stocks. Food and basic things will be hard for all of us to buy if we fall into another Great Depression. I will be hoping for the best, that this new plan works, once again.

Tags: Banks, U.S. Government

Breaking Up Banks!

Should big financial conglomerates like Citigroup, JPMorgan Chase & Co., and HSBC Holdings PLC be broken up into smaller company’s?  I have no idea if this would make them more profitable, but some think so.  And then again, so think it would hurt them.  With them losing millions of dollars every quarter something needs to be done.  And would braking them out no one really knows.  I do know that these company’s need to be more profitable, because if they go under our economy could be in really trouble.  So whatever choice is made I sure hope it’s the right one, because that’s what we need, good choices.  Once that happens our economy will turn for the good, you’ll see.

Tags: and HSBC Holdings PLC, Banks, Citigroup, JPMorgan Chase & Co.