Wachovia Securities for Sale?
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[quote=Ferris Bueller] [quote=mnbondguy] Interesting article on this deal:
http://www.cnbc.com/id/28579003[/quote]
The link was a good read. No offense, but we already have a bondguy on these forums and with the exception of his last rambling he offers much more. Maybe change your name to mnguy or something.[/quote] please accept my most heartfelt apologies
Danny is a good guy, but missed all this by a mile: I was in St Louis for an fa meeting 2-3 weeks before the first © buyout, and Danny specifically said “I am buying all the WB I can; it is in times like this where fortunes are made”…or lost.
He said he was 2nd biggest shareholder to bob steel at the time, so this has certainly hurt him and his credibility badly.
Danny L. is one of the most honorable, honest, cool people ever in our business.
He is THE brokers best friend.
We should ALL root for him
I hope he comes out of all this OK
big time
Danny L is the man
He is the brokers BEST ally
he is honorable, honest and we should all root for him.
big MF time.
[quote=CDO Squared]Danny L is the man
He is the brokers BEST ally
he is honorable, honest and we should all root for him.
big MF time.[/quote]
Hi Danny how you doing tonight!
[quote=Ferris Bueller]RJ has some serious liability with the auction rate bonds they sold clients. Even DL has referred to their pending problems.
RJ has access to TARP money (thru RJ Bank) don't think that if Tom James sniffed out a good deal he wouldn't tap those reserves (just as MS may do for SB).[/quote]
REALITY CHECK -
The ARS issue has been reduced from $2.3 billion to $1 billion in the past few months. It's still a problem but now its merely potentially catastrophic versus apocalyptic.
As for TARP, they have applied for TARP funds - no word on approval - but only $200 million to replace existing commercial credit lines - which were recently reduced to $50 million.
They'll just continue to "acquire" AGE/WS/c?/WFC the old fashioned way - by taking their brokers.
Mark it down, it may be the first time DL has been even close to right about anything in the past few months.
Supermarket model is dead. May it rest in ignominy where it belongs. Ben Edwards was brilliant. Its amazing that Bob Bagby learned absolutely nothing from him in all those years.
Lessons not lost on so many others who have left - many apparently ending up at Stifel.
Ben Edwards is still briliiant. His latest interview makes me miss him being in charge. Bagby was a greedy fool. I used to drink with him on chairman trips and he was a shined up good ol boy who realized he was in over his head and cashed out to secure his families future.