HOWTO Track the performance of the TARP

[Adam Brooks]

A new index has been created to track the performance of institutions who have received TARP money. the ticker is QGRI. It has been in existence for 12 trading days and has already lost ~32% of its value!!!!

You can read more about it here:
http://www.nasdaq.com/newsroom/news/newsroomnewsStory.aspx?textpath=pr2009\ACQPMZ20090 1080700PRIMZONEFULLFEED157271.htm
(http://www.nasdaq.com/newsroom/news/newsroomnewsStory.aspx?textpath=pr2009%5CACQPMZ200 901080700PRIMZONEFULLFEED157271.htm)
and there will also be an ETF created (http://stackyourcream.blogspot.com/2009/01/feds-stealing-more-money-from-americans.html) in the near future to trade as well

http://farm4.static.flickr.com/3495/3216429839_a9f6e1b9c4.jpg

[DirtyMax]

Wonder how much of that 32% loss went to C-level bonuses..... :rolleyes:

[DirtyMax]

Just as I suspected... Good to know our money is going to keeping the rich crooks richer... :fire

Former Merrill chief Thain out at Bank of America

John Thain resigned under pressure from Bank of America on Thursday after reports he rushed out billions of dollars in bonuses to Merrill Lynch employees in his final days as CEO there, while the brokerage was suffering huge losses and just before Bank of America took it over.

The bonuses were paid before Bank of America's acquisition of Merrill became final on Jan. 1, and while Bank of America was privately telling the government that Merrill was losing so much money that the deal might fall through unless it could get more federal bailout money.

Bank of America later received an additional $20 billion from the government, in part to offset the unexpected Merrill losses. The brokerage lost $15 billion in the fourth quarter and more than $27 billion for the year.

[Nick]

FAS was on a huge rally two days ago at TARPII news and the fact JPM and BoA CEO's purchased $1mm + in their own stock.
I should have gotten out at 10.50 but alas, I got greedy.

[Adam Brooks]

yes FAS/FAZ two etfs i trade heavily as well