6/10 Mr. Mortgage – Favorite News Picks of the Day!

Posted on June 10th, 2008 in Mr Mortgage - News Picks of the Day!

Wells Fargo Chairman Buys $1M in Stock– Bloomberg. Michael Perry, CEO of IndyMac, tried this stunt in mid-2007 and bought $1M in stock when the price was falling below $30. Mr. Perry’s effort to support the price was followed shortly thereafter by the CFO also buying $1M worth. This was followed by a press release saying how Q3 and Q4 2007 would be great for the bank and their buying proves this. Blah blah blah. Now I am just always suspicious of $1M stock buys.

Meredith Whitney Estimates LEH 2008 Loss at $3.34/share – Bloomberg. Since Whitney had previously estimated that the bank would make a profit of $1.58/share, this is a BIG SWING! I like Whitney, but no analyst has any business trying to guess the brokers’ earnings right now. As we have seen, they release what they want to.

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6 Responses to “6/10 Mr. Mortgage – Favorite News Picks of the Day!”

  1. […] Mr Mortgage – Favorite News Picks of the Day! Posted in June 10th, 2008 by in Uncategorized 6/10 Mr Mortgage – Favorite News Picks of the Day! In grand Perry fashion, this was followed by a press release saying how Q3 and Q4 2007 will be […]

  2. It was the same thing the CEO and CFO for Tyco did as that company was imploding. Bought a million bucks worth each then sang about how confident he was. If memory serves, the completely bald CEO went to prison and lost his trophy wife but the CFO managed to avoid prison(?). But I could be wrong about the CFO. I do remember a toga party they were famous for that came up at the trial as an example of their leadership.

  3. […] Read the rest of this great post here […]

  4. The party you speak of was in Sardina, Italy for his trophy wife’s b-day – with like naked guys, cool huh? As well as his $20,000 shower curtain, just a bit of the largess – how do you like them apples?

  5. And the ice fountain spew vodka. 1 million share. He probably bought with a free loan from the crooks and the mafia at the FED. Has he special loans like that mobster Mozilla. Your bankers are real scumbags.

  6. The Fed is owned by US bankers (note Lehman positions in this higherarchy) but it appears ultimate control lies in Jolly Old England or France or where ever the Rothchilds are hanging out these days.

    http://www.rumormillnews.com/WHO_OWNS_FED.htm

    There are a lot of apologist sites on the web about this family tree and how the US gov’t “really” controls the FED but the tree says it all without apology. Think LEH will fail? Not according to the tree.

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