• 17 Jul 2009 at 8:00 AM

Opening Bell: 07.17.09

By Dealbreaker

Picture 1739.pngBank of America’s Q2 Income Falls 5.5 Percent To $3.22 billion (BAC)
“Having positive net income in an extremely challenging environment speaks to the diversity and strength of our business model as well as the extraordinary effort put forth by all of our associates,” said Ken Lewis. “Our goals during this difficult time have been to enhance the strength of our balance sheet and capital position and to continue to improve our earning power while dealing with the credit issues facing our industry due to the recession.”
Citigroup Reports Second Quarter Net Income of $4.3 Billion (C)
“For many quarters we have been consistently and successfully executing our plan to build financial strength and return Citi to sustained profitability and growth. We have made significant progress in recent quarters as evidenced in the significant decline in expenses, headcount, assets, including Citi’s riskiest assets, as well as our 12.7% Tier 1 capital ratio,” said Vikram Pandit.
Two Giants Emerge From The Wall Street Ruins (NYT)
And they are: Citi and BofA. No, come on. “One theme here is that Goldman Sachs and JPMorgan really have emerged as the winners, as the last of the survivors,” said Robert Reich.
AIG Bank Swaps May Take Years to Expire, Leaving A ‘Toxic Pool’ (Bloomberg)
Last month, AIG said in a regulatory filing that it may be at risk for losses for “significantly longer than anticipated” if the banks don’t terminate their swaps. Ballpark: an eternity.
New Fund-Raising Reality for New Jersey Governor (NYT)
Not all Goldman alums are doing as well as Maxine would like to think: JSC needs your cash, asap.

Geithner Sees Evidence of a Financial Recovery (NYT)
Still hasn’t been able to sell his house, but the Treasury Secretary feels pretty good about the way things are going.
The Dept. Of The Treasury Seeks Contractor To Provide Humor in the Workplace (ZH)
Really.
Cramer: The Worst Is Over (CNBC)

Comments (31)

  1. 1
    Posted by NakedShort | July 17, 2009 at 8:15 AM

    I hope B. Quick doesnt start her period today. That would be an embarassing situation.

  2. 2
    Posted by guest | July 17, 2009 at 8:16 AM

    @1 what makes you think she will?

  3. 3
    Posted by NakedShort | July 17, 2009 at 8:19 AM

    @2 just more a comment on her choice to wear white pants on location; I am not a Quant so I wasnt able to statistically project her cycle start date.

  4. 4
    Posted by guest | July 17, 2009 at 8:19 AM

    @1 WTF?

  5. 5
    Posted by guest | July 17, 2009 at 8:21 AM

    More tan bell.

  6. 6
    Posted by guest | July 17, 2009 at 8:30 AM

    1/3 – go jerk off before you comment you sick fuck

  7. 7
    Posted by guest | July 17, 2009 at 8:30 AM

    the worst is over when we bury cramer

  8. 8
    Posted by guest | July 17, 2009 at 8:41 AM

    @NakedShort you have very special needs
    my word.

  9. 9
    Posted by guest | July 17, 2009 at 8:51 AM

    Ken Lewis said that?

  10. 10
    Posted by guest | July 17, 2009 at 8:52 AM

    I thought NS had Becks in the CNBC preggers pool.

  11. 11
    Posted by guest | July 17, 2009 at 8:55 AM

    What about that among those two giants only Lloyd takes all the heat? What’s the secret Jamie? Is it your manly good looks?

  12. 12
    Posted by guest | July 17, 2009 at 9:03 AM

    @11 The difference is the armadillo I have in my pants.
    –JD

  13. 13
    Posted by guest | July 17, 2009 at 9:04 AM

    love that picture of lewis…what a hayseed

  14. 14
    Posted by NAS Keflavik boi | July 17, 2009 at 9:16 AM

    For you, Naked Short:
    The white slacks say “summery and sporty!”
    The big red dot sez “crime-scene sex!”

  15. 15
    Posted by guest | July 17, 2009 at 9:17 AM

    Why is everyone bashing Boston chicks all of a sudden?

  16. 16
    Posted by guest | July 17, 2009 at 9:21 AM

    Erin out sick again this morning.

  17. 17
    Posted by guest | July 17, 2009 at 9:26 AM

    Period or no period, I would tap Quick ass lickety split….
    kaplow!

  18. 18
    Posted by EvilBuzzard | July 17, 2009 at 9:32 AM

    So Cramer, when was that bottom in the housing market again?

  19. 19
    Posted by guest | July 17, 2009 at 9:59 AM

    Dykstra’s one of the great ones.
    -J to the C

  20. 20
    Posted by EvilBuzzard | July 17, 2009 at 10:00 AM

    @1 – It’s always a sad day when the bearded clam, yearning to breath freely, is drowned in the rising red tide.

  21. 21
    Posted by guest | July 17, 2009 at 10:13 AM

    That pic in the NYT of Geithner and Legrande is great. He looks short, she looks like a transvestite. Can’t believe you guys didn’t run with it.

  22. 22
    Posted by guest | July 17, 2009 at 10:14 AM

    @21
    Stop making fun of Timmy, he’s saving your boss’s ass.

  23. 23
    Posted by guest | July 17, 2009 at 10:17 AM

    22 21 here. I actually like TG. Just throwing our a suggestion for DB, to accelerate hits.

  24. 24
    Posted by guest | July 17, 2009 at 10:22 AM

    @23 yeah, DB doesn’t need your lame suggestions, thanks.

  25. 25
    Posted by guest | July 17, 2009 at 10:24 AM

    @21 link?

  26. 26
    Posted by guest | July 17, 2009 at 10:38 AM

    25 Link is above, in “Geith Sees Evidence..”
    24 How do you know what DB wants or needs?

  27. 27
    Posted by guest | July 17, 2009 at 10:41 AM

    @25 the links above aren’t just for show, just so you’ll know.
    @21 I’m sure the francophone version of Dealbreaker was all over it.

  28. 28
    Posted by guest | July 17, 2009 at 10:44 AM

    @21 i just went to the pic. it was lame. good job thinking it was riproaringly hilarious.

  29. 29
    Posted by guest | July 17, 2009 at 10:45 AM

    @24
    Who the hell are you?

  30. 30
    Posted by guest | July 17, 2009 at 10:48 AM

    28 Lame + biting comment from Bess = hilarious Thats the DB formula. You new here?

  31. 31
    Posted by guest | July 17, 2009 at 9:12 PM

    @ 16
    I’m having morning sickness lately. I haven’t experienced this before.
    Erin

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