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Author: 2828 Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 744335  
Subject: Elisabeth Warren Is Delusional Date: 2/21/2013 11:53 AM
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It's not just that she thinks she's an indian:

http://www.bankstocks.com/ArticleViewer.aspx?ArticleID=6639&...

Oh, now Elizabeth Warren is an expert on the stock market. “[M]any of the Wall Street banks right now are trading below book value,” she commented at a Senate hearing last week. “And I can only think of two reasons why that would be so. One would be because nobody believes that the banks’ books are honest, or the second would be that no one believes that the banks are really manageable.”
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But Elizabeth Warren puts on an entertaining YouTube show, just the same. I had assumed her bottom-line goal as a member of the Senate Banking Committee would be to ensure adequate oversight of a banking industry that would still be an important source of credit for the economy generally. That’s entirely reasonable. But based on her harangue last week, it looks like I was wrong. All Elizabeth Warren seems to be interested in doing is bludgeoning the banking industry and the people who oversee it, just to play to her base. Thanks, Massachusetts!

Now back to those bank valuations, for a minute. First off, the vast majority of publicly traded banks do trade above book value. But among those that don’t, one possible reason for the discount that Sen. Warren didn’t mention has to do with the tremendous new regulatory load that Congress imposed on the banking industry, mainly via Dodd-Frank. This mountain of new regulations is making it difficult for some banks to earn their cost of capital. Those banks are trading below book value, therefore, because that book value will likely earn a paltry return and deserves to be discounted. It’s not bad assets that are holding the bank stocks down. It’s hyper-regulation—the kind that’s been championed for years by Elizabeth Warren.
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D'uh!
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Author: CCinOC Big funky green star, 20000 posts Top Recommended Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 672519 of 744335
Subject: Re: Elisabeth Warren Is Delusional Date: 2/21/2013 12:19 PM
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But among those that don’t, one possible reason for the discount that Sen. Warren didn’t mention has to do with the tremendous new regulatory load that Congress imposed on the banking industry, mainly via Dodd-Frank.

Bingo. I deal with the convoluted mess dreamed up by Dodd and Frank every...single...day. Why, just this morning, I had a somewhat heated disussion with a funder about how they interpret the "Important Dates" of the Good Faith Estimate.

The regulation morass of Dodd-Frank is utterly unworkable and will never end until it's repealed. Another Dem mess. Dem mess...demmess...a new word for mental disorder.

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Author: THEMATHISNEAR Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 672605 of 744335
Subject: Re: Elisabeth Warren Is Delusional Date: 2/22/2013 9:24 AM
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What's great when you're a Dem is that you can be dumber than a brick, but if you spout populist nonsense, even that which can be easily disproved, the media will back you up as a 'champion of the people', even though you should be a labeled a 'champion of stupid'.

You can also lie, cheat and steal, like Reid, Pelosi, Gore, Clinton (both Bill and Hill), Obama, Biden, Warren, Rangel, Geitner, Axelrod, Emanuel, John Edwards, Jesse Jackson (Sr. and Jr.), etc., and it's all good. Dishonesty, hypocrisy and outright stupidity are rewarded. When you're caught, you blame Republicans or say things like, "What difference, at this point, does it make?" It's an idiot-proof setup, and that's great, because they're mostly idiots.

Liberal means never having to say you're sorry.

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Author: TheDope1 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 672642 of 744335
Subject: Re: Elisabeth Warren Is Delusional Date: 2/22/2013 11:45 AM
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Bear in mind that Warren is on the list for some libs...to run for President some day. She's no rocket scientist but those folks don't know enough to pour water out of a boot.

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Author: AdvocatusDiaboli Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 672702 of 744335
Subject: Re: Elisabeth Warren Is Delusional Date: 2/23/2013 7:20 AM
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It's amazing how eager you are to be the sucker for Wall Street.

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Author: AdvocatusDiaboli Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 672703 of 744335
Subject: Re: Elisabeth Warren Is Delusional Date: 2/23/2013 7:41 AM
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Actually, there are a few other possible reasons banks are trading below book. I’ll get to those in a minute. But first: can it possibly be true that after the banking industry has endured three straight years of federally mandated stress tests, four years of post-crisis independent audits, and more severe regulatory scrutiny generally, that Elizabeth Warren still believes the banking industry is cooking its books? How could they be? That would be one vast conspiracy!
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This mountain of new regulations is making it difficult for some banks to earn their cost of capital. Those banks are trading below book value, therefore, because that book value will likely earn a paltry return and deserves to be discounted. It’s not bad assets that are holding the bank stocks down. It’s hyper-regulation—the kind that’s been championed for years by Elizabeth Warren.



Does it not occur to anyone that what the author of this article says makes no sense?

Book value = assets - liabilities

First, the guy says the bank's financial statements reflect the real asset and liability situation of the banks.
THEN, he says that the bank's assets are unable to to earn enough to cover the costs of the liabilities.
Well if what an asset earns doesn't cover the liabilities incurred to acquire it, shouldn't it be written down???

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Author: 2828 Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 672711 of 744335
Subject: Re: Elisabeth Warren Is Delusional Date: 2/23/2013 9:56 AM
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Does it not occur to anyone that what the author of this article says makes no sense?

Book value = assets - liabilities

First, the guy says the bank's financial statements reflect the real asset and liability situation of the banks.
THEN, he says that the bank's assets are unable to to earn enough to cover the costs of the liabilities.
Well if what an asset earns doesn't cover the liabilities incurred to acquire it, shouldn't it be written down???
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Read it again, slower, then come back.

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Author: BenHurJudah Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 672722 of 744335
Subject: Re: Elisabeth Warren Is Delusional Date: 2/23/2013 10:52 AM
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It's amazing how eager you are to be the sucker for Wall Street.

It's amazing how eager you are to be the sucker for 0bama.

Properly edited for a semblance of truth.

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Author: ResNullius Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 672726 of 744335
Subject: Re: Elisabeth Warren Is Delusional Date: 2/23/2013 11:01 AM
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Elizabeth Warren delusional? Good grief! What do expect from someone who claims to be an Indian, when if fact she's a paleface whose ancestors killed Indians.

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Author: CCinOC Big funky green star, 20000 posts Top Recommended Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 672732 of 744335
Subject: Re: Elisabeth Warren Is Delusional Date: 2/23/2013 11:24 AM
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It's amazing how eager you are to be the sucker for 0bama.

Now we know how megalomaniacs come to power. We're watching it happen.

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Author: BGinNJ Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 672760 of 744335
Subject: Re: Elisabeth Warren Is Delusional Date: 2/23/2013 1:32 PM
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<What do expect from someone who claims to be an Indian, when if fact she's a paleface whose ancestors killed Indians.>


Maybe she's got a modern day version of O'Rourke Enterprises going on. Hopefully chief Wild Eagle is getting his fair share of the profits.


BG

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Author: warrl Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 672770 of 744335
Subject: Re: Elisabeth Warren Is Delusional Date: 2/23/2013 5:06 PM
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Elizabeth Warren delusional? Good grief! What do expect from someone who claims to be an Indian, when if fact she's a paleface whose ancestors killed Indians.

Not to defend Fauxcahontas, but there's no contradiction between being Indian and being a paleface whose ancestors killed Indians. My sister-in-law's grandson is documented as having relatives on both sides of the Battle of Little Bighorn.

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