LOL didnt fail, but equity all wiped out???? the stalinisation continues, very soon all short sellers will have to do time in the gulags
In all fairness, he's not recently said the stock was good. He likes Steele and said with the bail out (that's past due) WB has a chance to break up into 2 banks. The good bank and bad bank and/or shed some of the bad crap. The only banks stock he's liked are his "Fab 4" or whatever in the hell he calls them. He has a bad habit of talking about things in a way that "traders" might misinterpret. He really needs to remember that most people watch for insight for stock trades and quit talking positive about things that he likes but doesn't like the stock. He got caught in that with BS. Hey, but he did pop CLNE enough to let Pickets wife jump out and make a shitload of money. Some of this crap is s obvious that he's trying to get something to Pop. He had the CLNE CEO on the first time when it jumped like $3 overnight and the media attributed it to him, although he said don't buy for 5 days. 5 Days later it was up $4-$5. It seems like every time it slipped over the next 2 weeks, he'd have the CEO back on.
Wrong!!!!! Cramer said Wachovia to be survivor!!! Had Steele on his show like a week ago steele said everything is fine.
Liquidation, equity holders are line up behind Senior Debt holders and than Sub debt holders. AG Edwards will be sold to repay these debt holders first. Anyone took corporate finance in college.....geee
A survivor yes, maybe, but I don't recall him ever saying he liked the stock. He's made it clear he likes Steele. That's what my point was.
Say what you want, but the FDIC seems to be the only govt agency that has a clue. They've probably saved the US taxpayer billions by brokering these deals (WM and WB).
Congratulations to anyone that bought it. My hat is off to you. It's $500 a share on google. Wow, what a profit!