Wleaks and the market

[Let'sgoflying!]

Wikileaks promises to release info which will devastate a US
banking institution at the beginning of 2011.
Anyone planning to pre-empt their action by dumping their banking stocks?
Do you think they could harm either a company's stability or their share price? Substantially? Long term?

 

[ScottM]

Wikileaks promises to release info which will devastate a US
banking institution at the beginning of 2011.
Anyone planning to pre-empt their action by dumping their banking stocks?
Do you think they could harm either a company's stability or their share price? Substantially? Long term?

I think this thread belongs in the SZ.

 

[silver-eagle]

Somewhere along the line I heard Bank of America and CitiCorp. But then, I doubt they could release anything that we had not already thought they were doing, like rubberstamping foreclosures.
And I don't particularly care what he releases. If people weren't so stupid, they wouldn't worry so much.

 

[Let'sgoflying!]

Scott, I didn't introduce anything to do with politics, religion and it hardly could be considered "highly charged". More of a boring question of personal economics and human responses. However, SZ or not, doesn't matter to me.

 

[TangoWhiskey]

I'd rather it stay out of SZ... I'm interested in the question, and see it as a market dynamics / macroeconomics discussion.

 

[ScottM]

Scott, I didn't introduce anything to do with politics, religion and it hardly could be considered "highly charged". More of a boring question of personal economics and human responses. However, SZ or not, doesn't matter to me.

I figured the Wiki Leaks guys are talking about how these docs will rock our world in regards to TARP and the banks that this was really more of a topic that was political in nature.

 

[rpadula]

Wikileaks promises to release info which will devastate a US
banking institution at the beginning of 2011.
Anyone planning to pre-empt their action by dumping their banking stocks?

Nope. But then again, I don't own any bank stocks.

Do you think they could harm either a company's stability or their share price? Substantially? Long term?

Shake the 8 ball. Some Wikileak dump about how Ken Lewis might have liked to drink Boone's Farm wine is just as good a reason as any to explain any given day's stock price gyrations.

 

[Ted]

I live under a rock and looked up WikiLeaks on Wikipedia just to figure out what it is. So no, I'm not going to do anything because of what they say they're going to do.

They're just trying to exercise power over society. Those who pay attention to them are only giving them more fuel with which to start a fire. I'm not interested in anything they have to say.

 

[ScottM]

I live under a rock and looked up WikiLeaks on Wikipedia just to figure out what it is. So no, I'm not going to do anything because of what they say they're going to do.

They're just trying to exercise power over society. Those who pay attention to them are only giving them more fuel with which to start a fire. I'm not interested in anything they have to say.

By 'they' do you mean wikileaks? I ask because I don't think they are saying anything. Only reporting on what other are saying. IOW wikileaks is a messenger, just as the WSJ is. In that respect not burying one's head in the sand would be a prudent thing to do. One should probably listen and weigh that information against other metrics.

 

[Ted]

By 'they' do you mean wikileaks? I ask because I don't think they are saying anything. Only reporting on what other are saying. IOW wikileaks is a messenger, just as the WSJ is. In that respect not burying one's head in the sand would be a prudent thing to do. One should probably listen and weigh that information against other metrics.

I'll listen to them about as much as I listen to the WSJ... which is not much.

 

[EppyGA]

Why so much attention to wikileaks and not to Manning.

 

[Gary]

Well... if it is as "devastating" as the diplomatic cables... I'll just keep the financial stocks. Although a VERY interesting read, and certainly embarrasing to some foreign dignataries, I didn't see anything that compromises our security.

Gary

 

[RJM62]

Wikileaks promises to release info which will devastate a US
banking institution at the beginning of 2011.
Anyone planning to pre-empt their action by dumping their banking stocks?
Do you think they could harm either a company's stability or their share price? Substantially? Long term?

I wonder what could possibly be revealed that would cause average folks to hold banks in any lower esteem than they already do, quite frankly. I know that every time I visit either of my credit unions, there are people sitting in the (rather well-appointed) waiting rooms waiting on line to join, and most of them say they're just fed up with banks.

I can relate. I moved all of my meager finances over to credit unions about eight or nine months ago, and I have to say, I haven't missed the banks at all.

Most people I know believe that the only "bailout" the bankers should have received was from jail -- and not at government expense. So what could WL possibly have to say that would make people think any less of banks? That they're crooks? Most people believe that anyway. That they plunged this country into economic chaos? Again, no big surprise there. That they regularly collude with powerful government officials and have no loyalty whatsoever? Nope, not exactly breaking news.

I do believe that the banks and financial institutions believe there's something big coming down the pipe, however. But that's just because they hold themselves in higher esteem than most other people do.

-Rich

 

[ScottM]

I'll listen to them about as much as I listen to the WSJ... which is not much.

Fair enough. I also have managed to ween myself off of a lot of the market forecast talk in the past 10 years. I set my investment strategies a bit differently now. Happily I am back to profit mode after the big crash of a few years ago.