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To: Spekulatius who wrote (34359)	5/2/2009 3:30:35 AM
From: Madharry	Respond to of 78751

I may be the wrong person to ask. I dont understand this insistence upon looking at tangible common equity as opposed to projecting the future cash flow and treating preferred the same as common equity. Its ludicrous to me that banks are suddenly not given credit for having a stable customer base of deposits either or business that generate predictable cash flow. for example mortgage servicers or credit card transaction processors, or even trust departments. suddenly these operations are worthless? I am concerned that this arbitrary yardstick is going to cause needless distortions in the economy if banks are forced to disgorge units that generate stable cash flow simply to satisfy some foolish incompetent regulator. I would have much rather see them focus on regulating the types of business banks can be in ie. derivatives and the whole alphabet nightmare that Mr. Geithner seemingly has failed to have a handle on for a decade or so. he only bank i own right now is Wells Fargo. I dont want to be owning BAC or C at any price. The others I am not familiar with.

To: Spekulatius who wrote (34359)	5/4/2009 1:06:16 PM
From: Madharry	Respond to of 78751

bloomberg this am had an interesting interview with Dick Bove, a well known bank analyst. He pretty much said that the US Treasury was running a circus- they were leaking info to the wall street journal to guage what the response would be, and adjusting their proccess accordingly. Nobody had heard of tangible common equity until a year ago, where as there was already an internationally agreed upon standard signed off on by 95 countries including the United States called tier one capital. You could see the disdain he felt for the current US Treasury administration, which is shared by me.