Barclays Share Discussion Threads

[three days] 14/10/2010 23:39

This is not the time to buy any banks - likely to fall much more.

[monsieurtibby] 14/10/2010 23:12

Just be careful. Something not looking right here.

[hiq] 14/10/2010 21:10

Is this bad news or good?

[jon827] 14/10/2010 20:51

Ken when you set up your new ftse thread did you make it viewable to all but only blues can post for a reason... I feel like this



:-)

[thetatrader] 14/10/2010 19:46

marketmakerMWH - 14 Oct'10 - 20:22 - 62655 of 62660
===================================================

Some on here were buying this above £8, not all that long ago.
I think they are LTBH now too.

Good luck

[mickyboy2] 14/10/2010 19:40

On Bloomberg It looks good to me other ways of raiseing money with out going cap in hand to share holders. First part c&p

By Miles Weiss and David Mildenberg

Oct. 14 (Bloomberg) -- Bank of America Corp., seeking to reduce risk and meet new capital standards, upgraded billions of dollars of distressed mortgage bonds by repackaging them into new securities using a variation of a Wall Street technique that failed during the credit crisis.

The transactions, known as re-remics, are designed to add a layer of protection to residential mortgage-backed securities that sustained losses, enabling them to regain investment-grade ratings. The strategy helped the bank pare its RMBS holdings by $5.2 billion in the second quarter, or about 15 percent, according to a company filing.

With bank stocks mired near historic lows in relation to book value, firms such as Bank of America and JPMorgan Chase & Co. are searching for alternative ways to meet rules set by global regulators since the 2008 financial crisis. By turning junk-rated securities into investment-grade bonds, Bank of America will need to hold less capital under rules agreed to by the Basel Committee on Banking Supervision.

"The larger banks are going to do anything and everything they can to create capital other than issuing stock," said Matthew Pieniazek, president of Darling Consulting Group Inc., a Newburyport, Massachusetts, firm that provides asset-liability management advice to banks. "The most punitive way of raising capital is by issuing highly dilutive common equity in the current marketplace

[isis] 14/10/2010 19:30

U.S. Bank Stocks Slide on Concern Over Foreclosure Inquiry
By Nishad Majmudar - Oct 14, 2010 5:31 PM GMT
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Bank of America Corp., the biggest U.S. lender, led financial stocks that slid in New York trading on concerns that reviews of home-foreclosure practices may fuel costs.

Bank of America fell 5.7 percent to $12.53 at 12:27 p.m. San Francisco-based Wells Fargo & Co. dropped 4.7 percent to $24.60. JPMorgan Chase & Co. declined 3.3 percent to $38.51 and Citigroup Inc., both based in New York, dropped 5.4 percent to $4.02. Charlotte, North Carolina-based Bank of America and JPMorgan were the worst-performing members of the 30-member Dow Jones Industrial Average today.

Attorneys general from all 50 states said yesterday they have joined together to open an investigation into whether lenders and mortgage companies falsified documents in foreclosures proceedings. Lenders including Ally Financial Inc., Bank of America and JPMorgan have suspended some foreclosures or evictions while they review their paperwork.

"You have a new cloud forming on the horizon which could be anything from something minor to something that really slows down the process" of foreclosures, said Benjamin Wallace, an analyst at Grimes & Co. in Westborough, Massachusetts, which manages about $900 million and owns stock in JPMorgan and Wells Fargo. "We'd rather be talking about normalized earnings and dividends."

FBR Capital Markets analyst Paul Miller estimated Oct. 12 that faulty foreclosures could cost U.S. lenders $2 billion for every month home seizures are delayed, up to a total of $6 billion.

'Twin Hit'

The crisis will get worse unless regulators move quickly to find a national solution, said Katherine Porter, a visiting professor at Harvard Law School who has studied banks' foreclosure practices.

"If the delays drag on and the lawsuits ramp up we'll see a twin hit to the economy, banks are very large players in the overall stock market, for example, and if their stocks start falling, that is not good," Porter said in a telephone interview yesterday. "There could be, in the worst-case scenario, a real downward hit to both the stock market and also to the overall housing economy."

JPMorgan, the first of the largest U.S. banks to report third-quarter earnings, will probably have some "incremental" expenses from the foreclosure scrutiny, Chief Executive Officer Jamie Dimon said yesterday.

"It will cost us some money to go back and make sure it's done right; it will delay some foreclosures," Dimon told reporters. The bank will also have "in-depth conversations" with regulators about their concerns, he said.

-- With assistance from Christine Harper in New York. Editors: William Ahearn, David Scheer

[grahamite2] 14/10/2010 19:30

No-one has (yet) said it's going back to 50p!

[sawman1] 14/10/2010 19:29

Forgive my ignorance but I was under the impression that the banks had been given several years to comply with these new capital ratio rules so why the sudden rush to raise money.

[marketmakermwh] 14/10/2010 19:24

Its the end of BARC and all the banks for that matter, just read the posts above lol

[marketmakermwh] 14/10/2010 19:22

Makes me laugh, I love it when the price falls even though I am a long term holder. All the bears emerge stating its the end of the world which you could quite easily do with any stock

[miata] 14/10/2010 19:17

and you haven't even mentioned the loss of PPI income (estimated at £5 billion in total for all banks).

[pjw956] 14/10/2010 19:12

clearly there are some tetchy people on this thread - too much time seems to be given over to whats happened in the past and insufficient to thinking about the future ..
eg
why wealthy arabs sell or leverage out of a deal which shows little further upside - what do they know?
costs of investment banking slowdown
excess costs barc carrying as a result of over staffing for non existant rise in investment banking.
barc exposure to poss debt rolled up in foreclosure issues in US
basel capital regulations
free capital required to support small business lending proposals
credit card debt right off level
implications of further QE
the lsit goes on
but to be ahead of the market you need to know what the impact of each of these is and we need some reasoned discussion about this and not just dismissed as not an issue

[grahamite2] 14/10/2010 19:09

Bloody hell jak1, nice escape!

It's not too much to ask, a little bit of luck once in a way.

[kenbachelor] 14/10/2010 18:35

Knight174 - As it said in the header until I updated it for tomorrow, £9pp short at 5,723 and closed @ 5,727.21 for a loss of £9 x 4.21 = £37.89.

[manuel labour] 14/10/2010 18:31

In today

Prop

[mickyboy2] 14/10/2010 18:26

yes cheers

[jak1] 14/10/2010 18:25

grahamite2

Ha Ha I felt like that the other day when I nearly bought SOCO before the well result was in...


grahamite2 - 14 Oct'10 - 16:40 - 62637 of 62646

I very nearly bought BAC yesterday, so I suppose I've had a good day today even though I haven't placed a trade!

[bobp] 14/10/2010 17:41

I agree Jug!

Tomorrow because we had the final snap below the cose, and the DOW is looking at a down finish I would say a little more of the same tomorrow.

All bets off if the yanks improve!

[knight174] 14/10/2010 17:12

ken did you go long in the morning or short to come up with a loss and if so what price did you place your trade at ?

[the juggler] 14/10/2010 17:07

Good Grief! been offline all day - this is well down. Something must be going on in the background.
Also noted some very rude people on here today - so unnecessary.
Ken keep posting Barclays, FTSE and the horses and anything else you may think is of interest of the rest of us as it is YOUR THREAD!