Tuesday, September 20, 2016


Rowdy Yates was back in the saddle today snapping a rawhide whip at that steer of a CEO, John Stumpf.  Rowdy looked a lot like Crazy Lizzy but the result will be the same: Johnny Stagecoach will wind up in the slaughter house before all of this is over.  He belongs there if for no other reason that he was awful today in front of the Senate Banking Committee.  For the good of all of banking he deserves to be fired.  Nuff said.  The other bunch that deserves to be fired are the banking analysts who have been pushing this stock for years while not understanding--as usual--what the hell was really going on withing the company or, as Lizzy pointed out today, never really inquiring what kind of client it was of this kind of bank that needed 6.14 separate products.  I sware, these guys know less about banks than do the regulators, but enough of that.

Tomorrow wraps up the meetings of the Fed and more importantly, the Bank of Japan.  In anticipation of tomorrow's news nothing happened today.  So I have nothing to write about until tomorrow.  


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