down 5-8%? Not low enough. Let them drop 95-100%, then we can start talking about buying back in.

So cheap they can start buying each other up and concentrate even more of a % of GDP into fewer hands. Hopefully they combine and make something to, to big to fail.

Burn Jump, motherfarker, burn jump.

Tell Me How My Blog Tastes: TFA: "Not just the big banks, but smaller banks, mid-sized banks, regional banks, the banking system is at a fire sale price."

Um, isn't that a sign that everybody in the world is anticipating a US (& worldwide) banking system meltdown if the Greeks do what everyone thinks they're going to do? I'm not one for the wisdom of crowds, but I think I'd wait to see what happens before I jump. Thanks, but no thanks pal.

No kidding. We'll see how many banks are left after Greece leaves the Euro, defaults on their Euro obligations, and goes back to the Drachma. So help me god if the banks get bailed out again....

fark 'um...free market right? strong survive...weak die...failure is your own fault....

oh wait, thats just people...businesses can have the tax payer funded bootstraps they need.

...when those banks write off some of those assets due to Greece defaulting, that P/B ratio won't look so hot

/too risky for me
//said the guy not gambling with other peoples money

Invest in equities of insolvent institutions with trillions in undisclosed CDS liabilities? Yeah. Sounds like a plan

I'm enjoying how both this and the article above it have the same stock image.

You want banks to fail, subby? Must be a damn capitalist!

We need a socialist government, so that the banks that everybody hates can be bailed out again the taxpayer's will with their own money!

Anagrammer: You want banks to fail, subby? Must be a damn capitalist!

We need a socialist government, so that the banks that everybody hates can be bailed out again the taxpayer's will with their own money!



What you describe is fascism (i.e. corporations taking over the government), not socialism (government taking over corporations).

I wonder how many people who are upset with the banks now supported the bailouts.

People need to better understand the principals of a free society.

Came here for Tobias, and leaving satisfied.

tgregory: I wonder how many people who are upset with the banks now supported the bailouts.

People need to better understand the principals of a free society.

most of the Obamatons in the OWS supported the bailouts in 2008.

This is why I like Fark. Never does an opportunity for an Arrested Development reference go to waste.

FTA:
Financial stocks were among the hardest hit on Tuesday, with declines of 5 to 8 percent for the big banks like Goldman Sachs [GS 106.10 2.56 (+2.47%) ]

, Citi [C 29.70 0.53 (+1.82%) ] and Morgan Stanley [MS 16.67 0.44 (+2.71%) ], as investors feared the extent of their exposure to Europe's financial crisis. But those fears have been overdone, according to analysts like Dick Bove of Rochdale Securities, who believes American banks' exposure to Europe's debt crisis is limited and banking stocks are now "so cheap", investors should be aggressively buying them.

Not sure I follow, but article reported declines of 5-8%, but each example cited gained 1.82 to 2.71%.

Nemo's Brother: tgregory: I wonder how many people who are upset with the banks now supported the bailouts.

People need to better understand the principals of a free society.

most of the Obamatons in the OWS supported the bailouts in 2008.

Yep. There was a servey done a few weeks ago where the OWS crowd agreed with the bailouts to the tune of 80ish%. They are mad that they did not get their bailouts though I wonder what most of them would do with a govt loan of about 1/5th of their annual income and was set to be paid back in 2 years.

Neondistraction: This is why I like Fark. Never does an opportunity for an Arrested Development reference go to waste.

???? That was a bloodhound gang ref.

kevinfra:
Not sure I follow, but article reported declines of 5-8%, but each example cited gained 1.82 to 2.71%.

The 5-8% declines are based on yesterday's closing price, while the gains are today's real-time prices. Looks like someone agreed with the article enough to buy.

Brainwash: [content7.flixster.com image 359x203]

"Don't shoot!!! Let 'em burn!"

Came here for this, leaving satisfied.

Maybe when they actually start paying dividends greater than half a percent of the stock price, I'll buy in. Until such time I'd advise anyone who asks to get a long-term CD, if you want to 'invest' in the banking system.

As longs as the Feds honor the whole FDIC thing I don't see a problem.

Banks that made poor decisions ought to be allowed to fail.

People with over 250k in any single account can probably take the hit.

Dumbasstard is saying the bank share prices are undervalued compared to their assets.....but those assets are precisely what everyone agrees are OVER-valued (mainly property mortgages), so is the decline in share price really all that surprising?

That's the hitch with assets - they're only as valuable as what you can ACTUALLY sell them for, not what you could theoretically sell them for. And with a big bank, the more likely you think it is that their assets might actually need to be sold, the sharper the decline in realistic value of those assets you'll see.

Like I'd trust those p to b ratios with their goddamn accounting.

Usually the fire sale happens after the flames have been put out. The banks are not at fire sales prices, they are still burning.

Saiga410: Neondistraction: This is why I like Fark. Never does an opportunity for an Arrested Development reference go to waste.

???? That was a bloodhound gang ref.

Perhaps I should have been clearer. I was talking about the Boobies, not the headline itself.

Also, the bloodhound gang didn't come up that line, they 'borrowed' it from some old-school rap group from the early 80's.

Neondistraction: Also, the bloodhound gang didn't come up that line, they 'borrowed' it from some old-school rap group from the early 80's.

Are you sure the group wasn't new? Or middle school (5th grade, like, junior high)?

Neondistraction: Saiga410: Neondistraction: This is why I like Fark. Never does an opportunity for an Arrested Development reference go to waste.

???? That was a bloodhound gang ref.

Perhaps I should have been clearer. I was talking about the Boobies, not the headline itself.

Also, the bloodhound gang didn't come up that line, they 'borrowed' it from some old-school rap group from the early 80's.

News to me, though that does not really surprise me. Thanks for the correction.