Wednesday, December 01, 2010

CYNIC writ large

Guambat is occasionally cynical, but he doesn't know the first thing about cynicism. For that, look to David Weidner:

The bar is high for WikiLeaks shocking us about banks
the worst that comes is embarrassment and minor tension.

Wall Street isn’t the Vatican. There isn’t much of a reputation to diminish.

Sure, some documents may lead to investigations and denouncements. It may require bank CEOs to issue apologies.

But really, what can shock us now? Mortgage fraud? Government influence? Hiding bad assets? Affairs? Name-calling? Market manipulation? Influence peddling?

There is no more game in shaming when shamelessness is the new norm.

Be that as it may, with BofA the apparent shamee, Zero Hedge finds insanity if no shame:

Following Wikileaks Revelations, The Tricky Dick Rushes To The Rescue, Sees Bank of America Worth $21 In Bankruptcy This is certifiably one of those days when the insanity refuses to end. The latest laugh out loud episode come from the lunatic who has outstayed his "analytic" welcome by about 2 years following his Buy recommendation on a soon to be bankrupt Lehman Brothers (sorry Dick, nobody will ever let it go):

The Rochdale analyst, continues to reprise the role of the evil grandpa-in-law who just. refuses. to. leave. even though it is about 12 hours past his credibility-time, now sees Bank of America as worth $21 in bankruptcy [that's per share, vis 11$ now].

You really can't make this shit up.

To wit: from a very funny Dick:
"In death, this company would be worth 91% more than it is worth in life." You may laugh now.



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