…back in 2008 and early 2009, Spanish regulators were riding high after their country’s banks seemed to have dodged the financial crisis with minimal losses. A big reason for their success, the regulators said, was an accounting technique called dynamic provisioning. Follow the money. Find the profits!Liquidity is money. Regardless of where in the world…
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Social Media Industry Continue to Struggle After Facebook IPO – Business Review USA (press release)
by Newswires • • 0 Comments
Social Media Industry Continue to Struggle After Facebook IPOBusiness Review USA (press release)NEW YORK, NY–(Marketwire – Jun 13, 2012) – The recent Facebook IPO was supposed to be a boom for the Social Media Industry, instead valuations of the five …
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Social Media Industry Continue to Struggle After Facebook IPO – MarketWatch (press release)
by Newswires • • 0 Comments
Social Media Industry Continue to Struggle After Facebook IPOMarketWatch (press release)NEW YORK, NY, Jun 13, 2012 (MARKETWIRE via COMTEX) — The recent Facebook IPO was supposed to be a boom for the Social Media Industry, instead …and more »
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Prices of Facebook stock since long-awaited IPO – CBS News
by Newswires • • 0 Comments
Prices of Facebook stock since long-awaited IPOCBS NewsAlthough many investors had hoped for a big first-day pop, Facebook's stock opened on May 18 at $42.05 and fluctuated between $45 and $38 throughout the day. It closed barely above its IPO pric…
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Home prices hit post-boom lows: What does that mean for housing market? – Full Story
by Newswires • • 0 Comments
[repostus hash=2c2ada98239ba34e594ada7e689a54b2 title=Home+prices+hit+post-boom+lows%3A+What+does+that+mean+for+housing+market%3F host=The+Christian+Science+Monitor short=1cX6T snip=By+Mark+Trumbull+posted+May+29%2C+2012+at+4%3A13+pm+EDT+Just+when+prognosticators+were+starting+to+get+more+optimistic+about+a+housing+recovery+comes+this+news%3A+A+major+index+of+US+home+prices+fell+to+new+post-boom+lows+during+in+the+first+quarter.+Does+this+mean+all+the+hopes+for+a+springtime+of+renewal%26hellip%3B thumb=http%3A%2F%2Fimg.1.rp-api.com%2Fthumb%2F2064079 jump=7] For my take on Case Shiller, see Case Shiller- A Rant Follow the money. Find the profits!Liquidity is money. Regardless of where in the world that money originates, eventually it flows to and through Wall Street. So if you want to know the direction of the next big…
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Weddings and divorces expected after IPO – Financial Times
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msnbc.comWeddings and divorces expected after IPOFinancial TimesBy April Dembosky in San Francisco Divorce lawyers and wedding planners have been gearing up for the Facebook IPO, waiting for the influx of wealth in Silicon Valley to stir up drama in ro…
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In Silicon Valley, they’ve got it but don’t flaunt it – Sacramento Bee
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Los Angeles TimesIn Silicon Valley, they've got it but don't flaunt itSacramento BeeBy Somini Sengupta Fabulous home theaters are tucked into the basements of plain suburban houses. Custom jeans that start at $1200 can be detected only by a tin…
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Asian Shares Mixed After China Easing; Euro Drops On Political Worries – Wall Street Journal
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Asian Shares Mixed After China Easing; Euro Drops On Political WorriesWall Street JournalBy Daniel Inman HONG KONG (Dow Jones)–Asian stocks were mixed Monday after China sought to kick start lending by lowering the share of deposits that banks must ho…
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U.S. sets new rules for fracking on federal lands
by Bears Chat at The Wall Street Examiner • • 0 Comments
U.S. sets new rules for fracking on federal lands http://reut.rs/JRLGzC
The Obama administration unveiled long-awaited rules on Friday to bolster oversight of “fracking” on public lands, seeking to allay environmental concerns over the technology that…
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Here is What’s Wrong With Bank of America (NYSE: BAC)
by Keith Fitz-Gerald • • 0 Comments
If you have a mortgage with Bank of America (NYSE: BAC) and want to refinance, don’t bother.
You are not worth the bank’s time. Or at least I wasn’t.
That’s what I learned first-hand last week when I called Bank of America to refinance a home mortgage I’ve had with them for years.
My jaw practically hit the floor when Alejandro from BofA’s mortgage department told me this over the phone.
“Because of excessively high demand,” Alejandro said, “we can’t accept your refinancing application. But we can take a reservation and have an agent call you in 90 to 120 days.”
Huh?…You can’t be serious.
I really have to wait three or four months to even apply for a lower interest rate when I’ve been an existing customer for years?
Yeah, I bet, I thought to myself…
They’ll call me when interest rates are much higher or when BofA works its way through its part of the $25 billion robo-signing settlement reached over its abuses in the foreclosure process.
Of course, all of this is after BofA received $45 billion in taxpayer bailout funding.
And after they reportedly shifted the risks associated with $75 trillion in derivatives from its investment banking and trading units to BofA’s depository arm, a unit flush with FDIC-insured deposits.
But that is another story for another day.
How Bank of America Treats its Customers
Suspecting something wasn’t quite right, I made a second call to BofA to inquire about a new loan.
Not ten minutes later I was put through immediately to an underwriter who was all too happy to help a new, unknown prospect – a.k.a. me – take on more debt. Imagine that.
