• 12 Feb 2009 at 6:25 PM

Write-Offs: 02.12.09

By Bess Levin

$$$ Defending Tim Geithner, by Jim Cramer [NYM]
$$$ Wells Fargo Adds Impairment [WSJ]
$$$ Critical, if improving. [The Deal]
$$$ “When one’s trust fund implodes, there’s no better place to run than a gathering of the still-rich in Monte Carlo.” [Slate]

Comments (17)

  1. 1
    Posted by Investorcluzo | February 12, 2009 at 6:31 PM

    so if wfc can’t get their accounting straight, what makes you believe they properly valued the “assets” sitting on their books? wfc + wb = fail. loan book needs to be marked down by half…
    and ———————————–>
    b1tches!

  2. 2
    Posted by guest | February 12, 2009 at 7:09 PM

    The government is to subsidized half of the delinquents mortgage.
    It wouldn’t surprised me if all these Octoplets born to a California mother who has already 6 kids prior (she has a total of 14 children)will all go to school with tuition fees paid for by US taxpayers besides living supplies as they grow up.

  3. 3
    Posted by guest | February 12, 2009 at 7:11 PM

    The Geithner article would have been nicer if effing Louis Vitton wasn’t all over the damn page (html fail.)

  4. 4
    Posted by guest | February 12, 2009 at 7:15 PM

    Hah, and this WFC impairment is sans WB. Just wait until the WB results are on the books. WB is WFC’s albatross. Should have let C take the piece of poo. But I guess it doesn’t really matter when you have an unlimited supply of government cheese. Heads, WFC wins, tails, the taxpayer loses.
    And why is WFC still paying a dividend? If you’re losing money and raising capital, seems like the first thing you should do is stop making payments you have no obligation to make.

  5. 5
    Posted by guest | February 12, 2009 at 7:29 PM

    Gasbags wrong again:
    http://www.reuters.com/article/marketsNews/idINN1247066220090212

  6. 6
    Posted by guest | February 12, 2009 at 7:32 PM

    Cramer is a cheerleading chickenhawk of the highest order.

  7. 7
    Posted by guest | February 12, 2009 at 7:51 PM

    barclays sucks

  8. 8
    Posted by guest | February 12, 2009 at 7:57 PM

    Please Dealbreaker, tell me if it will blend. That’s all I want to know.
    http://www.youtube.com/watch?v=l69Vi5IDc0g&feature=channel
    SPODE

  9. 9
    Posted by guest | February 12, 2009 at 8:00 PM

    Bambi needs to ditch Geithner.

  10. 10
    Posted by guest | February 12, 2009 at 8:08 PM

    Gasbags holding court at Equinox. Standing room only. Towels optional.

  11. 11
    Posted by guest | February 12, 2009 at 11:03 PM

    Cramer mentioned at the end of his Stop Trading segment today that Erin Burnett is going to Asia but didn’t say where in particular.

  12. 12
    Posted by guest | February 13, 2009 at 12:48 AM

    Guys – Last chance to order EP and BL a Vermont Teddy Bear for Valentine’s Day… hmmm… which one to get… the John Carney or the Keith Hahn bear?
    I hear Anal_yst is pining for a Myrna Moss bear. Or anything sold on those shitty Bloomberg infomercials – like a MagicJack or a Micro razor.
    –Calgary Schmooze

  13. 13
    Posted by Chuck Krug | February 13, 2009 at 5:33 AM

    Who is this Victoria Floethe?
    She loses her money, so everyone else must have lost their money as well, and those that didn’t are crooks. What kind of reasoning is that?

  14. 14
    Posted by american bandersnatch | February 13, 2009 at 7:09 AM

    @13 – Agree. What a waste of an article – no wonder Slate couldn’t convince people to pay for their content.

  15. 15
    Posted by Anal_yst | February 13, 2009 at 9:18 AM

    @4
    If they drop the dividend, buttload of shareholders dumb their holdings, thats why, I’d imagine
    @ 13
    What, that doesn’t make perfect sense to you? Her logic is infalliable, I tell you!
    @ Calgary
    Nah, no bears, flowers, chocolates (unless they’re for me) tomorrow. Most likely a bottle of scotch and the couch, will be my closest companions, but I digress…

  16. 16
    Posted by KevinB | February 13, 2009 at 10:00 AM

    @11 – North Korea. Kim Jong Il has a thing for E.B.

  17. 17
    Posted by guest | February 13, 2009 at 10:10 AM

    The Deal article is actually the first glimmer of good news that I’ve seen in what seems like years!

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