Socialist will use taxpayer funds to fire Bank of America President Ken Lewis next week for resisting nationalization. Corrupt Wall Street analysts

Corrupt Wall Street analysts help socialists. Yesterday Wall Street fluctuated in a narrow range as traders looked at the data from corrupt Wall Street analysts. Wall Street is uneasy because corrupt market analysts had set expectations low after a bruising January in which fourth-quarter results short-circuited a stock market rally and they thought that would fool investors this time around. But the earnings are disappointing even after setting low expectations and such deceptions by corrupt analysts only give socialists more fodder to use to tear down the American market system as being corrupt.

Democrat-Socialist Denise Lynn Nappier is the first African-American woman elected to serve as a State Treasurer in the United States and the first elected to a statewide office in Connecticut. The Connecticut pension fund owns 3.2 million Bank of America shares. The fund has a current market value of $34.3 million with unrealized losses of $57 million as of Monday. Under her administration the losses of Connecticut investments have skyrocketed and it is getting worse because she will not sell the speculative banking shares because Connecticut state workers would be devastated to know she has already lost 62.5% of the state worker pension fund on speculations. The socialists plan to decapitate Bank of America management for opposing nationalization and for asking permission to give tarp funds back. Nappier said they plan to use the votes of the CT pension fund shares and other union owned shares to vote him and other corporate capitalists out and put socialists in. The socialists don’t need the FED to own common stock to destroy capitalism. The unions and the Democrat-Socialist state treasurers can just use taxpayer paid for shares in pension funds to socialize any industry they chose. The banks are targeted to be the first to nationalize because they control the capital and therefore they can be used to destroy any capitalists who resist. If you search the web for information on this Socialist political attack on Bank of America you will see there are presently more than 260,000 entries.

After the Socialist take over our country… then we must live with the Maoists in America. In India the Maoists were shooting and burning trucks and drivers yesterday and kidnapped a train today.

In Venezuela the one candidate who was brave enough opposed Maoist Chavez in the last election has fled the country because he has been accused of having illicit wealth. He has not been able to fully explain $68,000 of his wealth so they want to imprison him for corruption.

Market forces

The International Monetary Fund predicted U.S. financial institutions could lose $2.7 trillion from the global credit crisis. That is 2700 billion dollars. Recent profits of 2 billion for some companies palls at the loss that has yet to be recognized. And the recent rally was based on the financials having bottomed. The real bottom is zero stockholder equity when the nationalization is complete. All the billions being spent by Obama is only a drop in the bucket unless they allow both bond and stockholders in failed banks to go under. If nationalization is the alternative and then even the bond and shareholders of the good banks will lose almost everything.

Subodh Kumar, an independent investment strategist in Toronto said, "The market was essentially ahead of itself," referring to the extent of the recent advance.

"Nothing has been remedied in the banking sector," said Dave Rovelli, managing director of trading at brokerage Canaccord Adams. "A lot of these banks, they're basically making money only because they're getting money from the government for free."

Bill Fleckenstein says the FED is a joke. “Inflation will lag the FED money printing.” He predicts problems in the bond and currency markets. “Right now the stock market is too dangerous.” “This bank rally because of an accounting rule change is just noise not substance.”

Doug Roberts, chief investment strategist, ChannelCapitalResearch.com said, "People are kind of going day to day," he said. "Everybody is hesitant to take too big of a position given the uncertainty of the environment."

In the corporate news, DuPont said its first-quarter profit dropped on falling demand. The chemical company also cut its full-year forecast and said it will increase its efforts to cut fixed costs.

Bank of New York Mellon's first-quarter earnings fell a steeper-than-expected 57 percent. The company said it was slashing its dividend to boost capital. The stock fell $3.39, or 12.1 percent, to $24.64.

Merck reported a 57 percent drop in first-quarter earnings because of a slide in both sales of its drugs and income from its partnership on cholesterol medicines. Merck fell $1.82, or 7.2 percent, to $23.40.

Bank of America Corp.'s earnings report on Monday touched off renewed fears about rising levels of bad debt. Traders grew worried that economy might not be stabilizing as hoped.


Market Outlook

All long market profits should have been taken by last week. All the signs are saying the stock market will decline and could hit a new low. Right now Obama says the socialists have the right to pick and chose which companies will survive once any company comes to drink at the cash trough of the socialists. The real damage the socialists will do lies ahead.

Asian shares were down last night with Shanghai (China) down -3%, India down another -0.7%, Japan up 0.2% and Hong Kong down -2.7%.

European markets are currently flat in the range of 0% to 0.4%, mid way through their day today.

US futures indicate the American markets will start the day down again. All the American equities markets remain extremely over bought. As the markets decline further they will present select opportunities to astute investors seeking value by catching individual stocks that are down in higher value ranges.