“chicken…do you think that the current class of common stock will remain? I think this is a pretty good speculative bet. Or options at $0.02
Posted by: daveinbedstuy at May 29, 2009 10:25 AM”
Well as soon as a company files chapter 11 then the shares are suspended so I don’t think the common shares are worth anything apart from optionality – they are so close to the brink.
Don’t know if you can do anything with options at this point but a long straddle will have good payoff if you can get the volume at a reasonable price – the shares will either go to zero or back to $5 but they definitely aren’t going to stay where they are!
(AP) New York’s attorney general said Thursday government officials pressured Bank of America Corp. CEO Ken Lewis to complete the bank’s purchase of Merrill Lynch, threatening his job security.
Ken Lewis testified under oath that Paulson told him to “Make the deal” or be replace!!!
A letter from New York State Attorney General Andrew Cuomo’s office sent to Congressional leaders and federal regulators said Lewis testified in February that former Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke threatened to oust Bank of America’s management if the bank tried to back out of buying Merrill Lynch.
This is a clear violation of due diligence but when you elect criminals this is what you get! Every body who received TALF, PIPP or any other form of Government money is trying to pay it back because the Bond Holder will get smoked! This is why rates are going to the moon and they is nothing we can do to stop it. Thanks Jagoffs!
You calling me a Jackass ROTW? 😛
“I just need a woman!”
Good things happen in bunches! When it rains it pours — Sue is ‘on order’ and coming right up! Keep your eyes open Snappy! ; )
I love to talk about other people’s rectums.
“chicken…do you think that the current class of common stock will remain? I think this is a pretty good speculative bet. Or options at $0.02
Posted by: daveinbedstuy at May 29, 2009 10:25 AM”
Well as soon as a company files chapter 11 then the shares are suspended so I don’t think the common shares are worth anything apart from optionality – they are so close to the brink.
Don’t know if you can do anything with options at this point but a long straddle will have good payoff if you can get the volume at a reasonable price – the shares will either go to zero or back to $5 but they definitely aren’t going to stay where they are!
Snappy, late to the party, but congratulations on the job! That is really encouraging for the rest of us. Cobble is next.
Could someone please review what PLUSA stands for? I can’t remember. The first 2 words are pathetic loser, if I remember correctly, but the rest?
“The US government may force the bondholders to accept equity or not allow the petitioning. Either of these is a clear violation of company law.”
You Jackasses better wake the fuck up! We are headed toward a Fascist State (Please no Goodwin Law Bullshit)!! Look at this!
Did Feds Strong-Arm BoA-Merrill Deal?
http://www.cbsnews.com/stories/2009/04/23/business/main4963490.shtml
(AP) New York’s attorney general said Thursday government officials pressured Bank of America Corp. CEO Ken Lewis to complete the bank’s purchase of Merrill Lynch, threatening his job security.
Ken Lewis testified under oath that Paulson told him to “Make the deal” or be replace!!!
A letter from New York State Attorney General Andrew Cuomo’s office sent to Congressional leaders and federal regulators said Lewis testified in February that former Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke threatened to oust Bank of America’s management if the bank tried to back out of buying Merrill Lynch.
This is a clear violation of due diligence but when you elect criminals this is what you get! Every body who received TALF, PIPP or any other form of Government money is trying to pay it back because the Bond Holder will get smoked! This is why rates are going to the moon and they is nothing we can do to stop it. Thanks Jagoffs!
The What
Someday this war is gonna end…
I congratulated you very late yesterday, Snappy, but you deserve two congratulations from me! So congratulations again!!
A colleague just asked me if there’s an actor named “Biggerstaff” – who on earth got stuck with that unfortunate last name?
We’ll have to get a Snappy twitter feed on the main page so we know what she’s up to.
chicken…do you think that the current class of common stock will remain? I think this is a pretty good speculative bet. Or options at $0.02