Monday, April 20, 2009

Bank Stocks - Look Out!!

Bank of America Quadruples! Is it a safe bet?

Bank of America on Monday disappointed investors by reporting a big increase in troubled loans, even as its purchase of Merrill Lynch helped first-quarter profit more than double CNBC article.

All I have been seeing on tv lately is these slick salesy bank CEOs bragging on TV about how they are making money and that all is well. And the public believes them. Look at how well Bank of America has done. Up to 12 from under 3? Look at where the big banking gains are coming from. From TRADING! Not lending, not doing what the TARP money was there for. They are using OUR MONEY to play the market. Why does the government allow this?
Beware! Should the markets again fall or their "marked-to-market" profits begin to fall apart, will Barack and Ben still be there with an open checkbook? Probably.

No comments:

Post a Comment