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Strategies & Market Trends : Value Investing
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To: maverick61 who wrote (39023)8/31/2010 6:41:57 PM
From: Paul Senior3 Recommendations   of 78702
 
I take the position that free enterprise eventually runs amok without a countervailing source.

And that there are pluses and minuses of government involvement with banks.

I'm surprised how much of bank profits are from overdraft or overdrawn charges. Government regulation now of some apparently egregious bank overdraft practices will cut these profits --- until banks figure out a way around them. Regardless if they do or not, banks like WFC provide home loans, car loans, commercial loans, credit cards. Banks "should" be profitable from all this. And now there are fewer banks, so that might help the biggest banks.

I see BAC at new low. I've picked WFC as my bet, and as it drops (like today), I am adding to my few shares.
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