Notorious bank analyst Meredith Whitney of Meredith Whitney Advisory Group is out with some new harsh predictions calling for the demise of more banks. It is actually not all really bad news, but she…
We have already noted on numerous occasions how the floodgates for re-sales or re-IPO’s of old private equity acquisitions have to come back on the market. And now we have the first of many…
Wells Fargo (WFC) and a lot of other American banks got in trouble by being more liberal than they should have been in their loan practices. Financial firms made to many risky mortgage loans,…
The precious time of senior government officials must not be so precious. Federal agencies seem to be spending more and more time looking back on the financial crisis to see if it was handled…
Brookfield Asset Management (NYSE: BAM) and the Export Development Canada have announced the establishment of a C$1 billion fund with the backing of the “EDC” to provide debtor-in-possession loans, or DIP Financing, and other…
The Fed made hundreds of billions of dollars in short term loans to banks. It was necessary, in the opinion of the agency, to do that to preserve the financial system as we have…
Citigroup, Inc. (NYSE: C) is trading higher this morning on an analyst upgrade. This would probably be a much more important call had financials not run so much. Bank of America Merrill Lynch raised…
Citigroup’s (C) board does not even get to decide who should run the bank. This is the same board of “blue chip bankers” recruited by Chairman Richard Parsons. Regulators have decided to humiliate the…
John Paulson has been well known as a hedge fund manager because of the profits he made from short selling many of the key financial stocks. Yet his new filing shows a large long…
The Blackstone Group L.P. (NYSE: BX) had a fairly busy day. It seems that reports of the death of private equity may have been exaggerated. The company had two key announcements today: it brought…
What happens when a sector loses a key bull, even if it is temporary? Often nothing, but if it is a big enough market pundit then it can have an impact. That is what…
The federal district judge handling the Bank of America (BAC) deal with the SEC to settle charges that the financial firm improperly disclosed the timing of bonuses paid to Merrill Lynch executives has said…
There are so few profit centers that banks can count on anymore. Many of the largest financial firms are still losing money on derivatives. Consumer credit default rates are rising. Commercial real estate may…
Unemployment may be improving or getting less bad, but the same is not true for credit and borrowing by consumers if the June trends continue. The consumer credit report for June has just come…
For those who want to know how much worse that housing market is getting they need look no further that the quarterly results of Fannie Mae (FNM). The mortgage operation lost $15.2 billion and…