Charting Stocks

The U.S. economy is in for “a lasting slowdown” and won’t recover this year, while “the banking system as a whole is basically insolvent,” billionaire investor George Soros told Reuters Financial Television on Monday.
While nationalization of banks is “out of the question,” he said stress tests being conducted by the U.S. Treasury could be a [...]

The media spends too much time repeating the optimistic outlooks of economists and strategists who’ve been wrong for 3 years. I like to focus on those who clearly saw this recession/depression coming. Among those who correctly predicted this crisis was NYU professor Nouriel Roubini.
Professor Roubini Monday offered the opinion that the US recession could drag [...]

Bailout #3 for Citigroup
The Government has reached a deal to buy 36% of Citigroup’s common stock. The United States will now be the largest shareholder of the troubled bank (But don’t call it nationalization). Citigroup announced another huge quarterly loss. The firm lost $10 billion in the 4th quarter of 2008 and has suspended dividend [...]

Famed economist Nouriel Roubini comes out in support of ChartingStocks.net’s theory and says Nationalize the banks (OK I made the first part up).
In an interview with Tunku Varadarajan of the Wall Street Journal, Mr. Roubini says that bank nationalization “is something the partisans would have regarded as anathema a few weeks ago. But when I [...]

Amid growing rumors of bank nationalization, which the WSJ and Dow Jones attribute to ChartingStocks.net, the great wealth destroying CEO of Bank of America felt obliged to give an emergency interview  yesterday to play down talks of government takeover.
“When you talk about nationalization of Bank of America, it becomes absurd. What it appears to [...]

Bank of America CEO was quick to respond to the growing rumors that his bank may be taken over by the government. In a CNBC interview today Mr. Lewis said:
“I have talked with government officials, members of Congress, and regulators, and no one has ever thought nationalization of the industry was likely to happen. When [...]