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Strategies & Market Trends : Natural Resource Stocks -- Ignore unavailable to you. Want to Upgrade?


To: Mannie who wrote (2509)10/27/2003 12:10:40 PM
From: Jim Willie CB  Respond to of 108681
 
Fleet target acqn prompting moronic speculation in banks
Comerica, PNCBank, etc all getting pushed up

this repeats the stages seen in 1999-2000
first, retail investors push stock prices up
then, corporations push prices up with nonsensical M&A's

tell me why Fleet is worth a 40% premium !?!?!?!!!!
why why why ???

have they managed to offload their entire mortgage portfolio risk, tied to absurdly high housing prices ???

have they shed any and all FannyMae, FreddyMac debt ???

the entire US banking system is now repeating the Japanese error
tying their future and profit risk to inflated housing prices
history is not read, absorbed, and learned from
it is repeated

/ jim