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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: NucTrader who wrote (374873)	9/23/2008 6:48:50 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 436258

Unbelievable trickery by COF: Thursday: Primary dealers engineer a short squeeze from 44 to 50 Friday: more short squeeze Saturday: They begged to be included in do not short list Monday: They were included in do-not short list; more short squeeze, but the stock closed down Tuesday: Monday and Tuesday they tried vehemently to keep the stock at 54. Tuesday after the close, they announce a secondary, 14 mil shares at today's closing price. Affirmed outlook, increased loan-loss provision by 200 mil for this Q and then, get this, stated that they needed this new capital to withstand losses of about $7b through Sept 09. NO, I AM NOT KIDDING! Capital One said the reserve increase reflects "continuing weakness in the U.S. economy, as observed in recent trends in economic indicators, including home prices and the unemployment rate." It said the increase would give it the capacity to absorb $7.2 billion of loan losses through Sept. 2009. .... reuters.com