Morgan Stanley Launches TALF Fund (MS)
Morgan Stanley (NYSE: MS) is launching a TALF fund. It is slightly larger than its original target. The fund probably won’t make a huge boost for earnings, but it is a further step into…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 229Citigroup (C) Earnings: Credit Cost Spike
For the second quarter Citigroup, credit costs increased to $12.4 billion, including an addition of $3.9 billion to loan loss reserves, bringing the total allowance for loan losses to 5.6% of total loans. That…
A Miracle At Bank Of America (BAC)
Ken Lewis will be CEO of Bank of America (BAC) forever. Even after being forced into a horrible deal to buy Merrill Lynch by former Treasury chief Paulson. the firm managed to post remarkable…
Rethinking a CIT Gamble… Preferred & Senior Vs. Common (CIT, CIT-PA, CIT-PC, CIT-PZ)
CIT Group, Inc. (NYSE: CIT) is trading no different than a warrant or way out of the money call option at this point. In short, any trading other than a forced sale here is…
Commercial Real Estate Woes Back in Focus (JPM, BXP, LRY, OFC, SPG, PLD, DLR, AMB, CBG)
This morning’s earnings call from J.P. Morgan Chase & Co. (NYSE: JPM) echoes some of our concern of what is coming in the next wave of real estate problems which could cause the next…
JP Morgan (JPM): A Homer For Q2
JP Morgan (JPM) reported second-quarter 2009 net income of $2.7 billion, an increase of 36% compared with net income of $2.0 billion in the second quarter of 2008. EPS was $.28 compared to consensus…
Banking In Secret: Citigroup (C) And Bank Of America (BAC) Behind Closed Doors
The Wall Street Journal has two troubling reports. The first is that Bank of America (BAC) operating under an agreement with the government which the paper describes as “a secret regulatory sanction.” Part of…
A Good Chance CIT (CIT) Will Go Bankrupt
In a perfect example of how dangerous rumors can be for traders, CIT (CIT) has announced that its conversions with the government aimed at bailing the financial company out have failed. Most analysts believed…
The Global Credit Crisis: Another Flavor Of Pessimism
Investor Mark Mobius gets placed in the pantheon of money men including Soros and Buffett. He may not be as rich, but he has been in the market for decades and has posted an…
When High Charge-Offs Start Looking Good (COF)
Capital One Financial Corp. (NYSE: COF) has some more dismal data regarding the monthly credit card defaults and delinquencies. The defaults rose again in June, bolstered by weak economic data and higher unemployment. But…
The Bumbling At AIG (AIG) Continues
AIG’s (AIG) management has repeatedly promised that it will get taxpayers back every dime of the $180 billion that the government has put into the insurance company in one form or another. Part of…
How Many More Bailouts After CIT (CIT)
The Wall Street Journal has been carefully following the story of CIT’s (CIT) liquidity crisis. News that the firm is in trouble caused customers to draw down several hundred million in credit lines. The…
Goldman Sachs Proves the Golden Slacks Name (GS)
Goldman Sachs Group (NYSE: GS) has just come out with a quarter that will please everyone. Unfortunately, this was telegraphed by recent analyst calls with above-estimate forecasts. The investment banking giant, a.k.a. ‘bankless’ bank…
CIT (CIT) Update
After a sharp sell-off during the day due to concerns about a Chapter 11 filing, CIT (CIT) rallied by over 20% after hours on rumors that the federal government may provide bailout funds. The…
CIT Heads Deeper Into Junk Status (CIT)
CIT Group, Inc. (NYSE: CIT) has been hit steadily after news that it was not going to have the government loan guarantees, then on concerns that certain customers could be left in the lurch,…