Wikileaks Can’t Embarrass Wall Street
By Barry Ritholtz - November 30th, 2010, 6:09PM
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Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
November 30th, 2010 at 7:01 pm
[...] Wikileaks Can’t Embarrass Wall Street [...]
November 30th, 2010 at 9:23 pm
I just don’t gey it… per another one of your post
Here is the sad reality: Can you really embarrass any of these banks? They were incompetently run, with criminally inept risk management. They blew themselves up, and exist today only due to the largesse of the taxpayer. They gratefully took all they could grab and more.
What else can you release to embarrass them?”
With all of this you still put money into these banks as investments. I guess all that really matters is to make money no matter what frauds are taking place. Nothing will change until we do not, as a society, put money making over the rule of law. These banks have destoyed peoples lives!
You aslo stated that BofA would be insolvent if FASB did not allow them to make up their own prices on their bonds (my words) and push their losses to the future then you recommend to buy them.
On WikiLinks.. I dont buy any of their story. I beleive that it is just a bunch of propoganda for wars.
November 30th, 2010 at 9:39 pm
You are correct about that. More importantly Obama and Holder are more likely to persecute Oh I ment prosecute the whistle blower rather then any crooks. Welcome to the corrupt Banana Republic America has become.
November 30th, 2010 at 9:54 pm
Always good to know the banks are “technically” insolvent.
With liabilities exceeding assets, why aren’t these banks “actually” insolvent, and put into bankruptcy proceedings. It goes without saying these banks all need a management Purge.
December 1st, 2010 at 5:56 am
As i mentioned, these are rentals, not longer term investments . . .
December 1st, 2010 at 9:29 am
Ask yourself: Who would want to see Wikileaks release embarassing internal documents from Bank of America? Wouldn’t the attendant publicity lead to a public outcry, and possible indictments? Elliot Spitzer is no longer prosecuting them, but could public and Wall St outrage over wikileaks revelations cause people to resign, or be indicted? Perhaps a personal vendetta, or even a business vendetta is behind this threat. Certainly some people would be willing to pay large sums of money to avoid this situation. Assange is dangling that possibility, is he not? As to motive, would rival banks benefit if BofA suffered? As the FDIC shuts banks and transfers their assets to larger, more “stable” banks, don’t the larger banks benefit? Could a country be behind this? If one big bank failed on its merits, wouldn’t that lead to a loss of confidence in all Wall St banks? Although it’s difficult to envision anyone deliberately causing such suffering, this threat has been clearly stated. How will Wall St respond? If we ever see these damning documents, it is only because Bank of America knows what they are, and has decided not to pay to prevent their release. It sounds like more than personal reputations are at stake.
December 1st, 2010 at 9:55 am
Also, all these banks have the same management in place. Unlike the GM restructuring that at least went through the moves of a full takeover, management cull and oversight, the banks were handed money and left to it. So why anyone wd take a long term bet on management teams that have failed once is beyond me.
December 1st, 2010 at 11:41 pm
Let me add to what a lot of you are already saying: Who would want ANYTHING to be released from Wikileaks AT ALL?! The founder is going to suffer charges for ESPIONAGE! They are endangering our ambassadors.
December 1st, 2010 at 11:43 pm
Furthermore, I don’t want to KNOW about our banks’ issues!
http://www.philstockworld.com
December 22nd, 2010 at 10:53 pm
[...] BofA refutes the whispers, that didn’t stop its shares from tumbling 3 percent yesterday. As financial blogger Barry Ritholtz put it, Here is the sad reality: Can you really embarrass any of these banks? They were incompetently run, [...]