Confidence In Banks Plummets
As the largest banks in the United States prepare “living wills” for the government in the event that any of them should become financially nonviable, Americans continue to lose their trust in banks. According…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 149Financing Green Energy Projects Must Move to Capital Markets (MHP, FSLR, BRK-A, BRK-B, NRG)
At last week’s Rio+20 conference in Brazil, a representative of Standard & Poor’s Latin American office told a panel on sustainable development that “banks and utilities are unlikeloy to provide financing of about $1…
When Banks & Brokers Upgrade & Downgrade Each Other (GS, MS, JPM)
In a rare move, Goldman Sachs Group (NYSE: GS) has made some changes to its Conviction Buy List on competing banks. The reason this is so rare is because when analysts of banks and…
Moody’s Downgrades 28 Spanish Banks
Just as it appeared that Spain could not have any more bad news because there is none left to have, Moody’s downgraded 28 banks in Spain and released a spreadsheet with long-term ratings and…
More ‘Hope & Rumors’ Drive SUPERVALU
SUPERVALU Inc. (NYSE: SVU) is a down and out turnaround. It has proven to be a turnaround which some think cannot be turned around. Others have listed it as a value stock, and some even…
Cyprus Goes to the Eurozone Well
The government of Cyprus has requested a bailout from other members of the Eurozone through the European Financial Stability Fund (EFSF) or the European Stability Mechanism (ESM) which together have been capitalized to the…
Credit Suisse Responds to Criticism, Downgrade with CoCos (CS, UBS)
A Swiss newspaper reported over the weekend that Swiss-based Credit Suisse Group AG (NYSE: CS) may bring forward a planned issue of $6.26 billion in contingent convertible bonds — called CoCos — from October…
FOMC Dissenter Explains Vote
Richmond Fed President Jeffrey Lacker issued a statement this morning defending his lone vote against the Fed’s extension of Operation Twist. Lacker said that more monetary stimulus would not make a “substantial difference” in…
Wells Fargo Wants to Help You Buy A Tesla Model S (TSLA, WFC)
Tesla Motors Inc. (NASDAQ: TSLA) is kicking off sales of its new Model S sedan this month, and the company wants to make it easier for buyers to drive one off the lot. To…
Quick Blow by Blow of the Moody’s Bank Downgrades, Not So Bad After All
We had been informed that Moody’s was going to finally release its massive downgrade of the banking system today. The Moody’s warning came back in February that the downgrade was coming, so this has been…
The Moody’s Giant Bank Downgrade Finally Arrives
24/7 Wall St. has been expecting this highly anticipated Moody’s downgrade of the large banks and investment banks for weeks. It appears that the wait is over as the downgrade is set to come…
€62 Billion May be Needed to Prop Up Spanish Banks (SAN, BBVA)
Reports by two independent auditing firms have concluded that €51 billion-€62 billion will be required to recapitalize Spain’s banks sufficiently to withstand losses expected over the next few years. The IMF had earlier estimated…
PIIGS Shifting Attention To Spanish Bond Yields Again (EWP, BBVA, SAN, NBG, IRE, DB)
A 2014 bond auction in France went off at 0.54% this Thursday, while the same maturity in 2014 went for a yield of 4.70% in Spain. The fear is that long-term borrowing rates will…
NASDAQ Going After Derivatives Market in London
NASDAQ OMX (NASDAQ: NDAQ) has now announced that it intends to launch a new London-based trading venue called the NLX, which will offer derivatives on both short-term interest rates and long-term interest rates. The derivatives…
Bernanke Extends Operation Twist, Keeps Late-2014 Outlook For Exceptionally Low Rates
Ben Bernanke has spoken. The statement from the two-day Federal Open Market Committee voted in an 11-1 to keep Fed Funds unchanged. Most importantly, the Fed is extending Operation Twist through the end of…