Morgan Stanley

Market Recap: Bank Shorts Were Lunch Meat Today

[youtube=http://www.youtube.com/watch?v=mGMT99i00M4] The Reformed Broker, AKA Jackie Treehorn, here¬†with today’s Market Recap… Plenty of traders put on bank stock shorts on the heels of last week’s positive pre-announcement from Wells Fargo (WFC).¬† They didn’t like how the numbers were put together or thought the move was too much or both. Their money was confiscated today as…

The Quesadilla That Changed My Mind About The Bailout

I kid you not, readers, he literally uttered the word “Citigroup” and his quesadilla was packed in a bag with plastic utensils and napkins, and he was out the door. No one asked him for ID or made a note anywhere of what he was eating that day. He just said “Citigroup” and bounced. I was on line to pay behind him with my own chicken quesadilla and a bottle of Diet Pepsi…cost to me as a non-Citigroup employee: $9.85 plus tax.