Nationalizing The Bank Of America (BAC) Board Of Directors
The federal government seems to think that many of the directors on the Bank of America (BAC) board are not qualified to serve. To solve that problem, the bank is being encouraged to find…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 236TARP Approved For Insurance Money: More Cash From The Taxpayer’s Pocket (LNC)(PRU)(HIG)(PFG)
The Washington Post is reporting that the Treasury Department has granted approval for insurance companies to have access to TARP funds. It is not clear what that will do to the balance in the…
New Obama Plan: Monitor Pay Of Everyone On Wall St.
According to The Wall Street Journal, the Administration is looking at a plan to drive the last talented person out of the financial industry. The paper writes that “The Obama administration has begun serious…
Stress Testing Banks In Europe
The FT reports that the IMF wants to stress test banks in Europe. For the governments of the EU and UK move ahead with such a program, they will have to overcome some high hurdles. The first…
Are Goldman Sachs & Morgan Stanley Worth 50% More? (GS, MS)
Research analysts often make timely calls, and sometimes they make rash calls. If Dick Bove of Rochdale is accurate, then both the Goldman Sachs Group Inc. (NYSE: GS) and Morgan Stanley (NYSE: MS) could…
As Bank Of America (BAC) Sells CCB Stake, Question Of Dismantling Become More Important
Bank of America (BAC) is selling part of its stake in China Construction Bank for $7.3 billion. That will help the US institution to raise capital it needs to fill the $34 billion capital gap…
Short Sellers Move Into Banks, Out Of Tech (C)(BAC)(WFC)(DELL)(INTC)(CSCO)(MSFT)
Short sellers may have helped themselves by moving out of tech stocks just as shares in the sector began to make big advances. In the period ending. May 11, short interest in Microsoft (MSFT) fell 10% to…
A Profitable MBIA… The Possible Impossibility (MBI, ABK)
MBIA Inc. (NYSE: MBI) was on our schedule to report earnings tomorrow, but the troubled and former largest bond insurer somehow managed to post a profit for the quarter. We expected a loss, although…
Microsoft Debt Could Further Save Corporate Bond Markets (MSFT)
There is something far more important than the Microsoft Corporation (NASDAQ: MSFT) bond offering. It is even more important than why the company is raising the money. This Microsoft bond offering could act as…
FAS/FAZ Dealing With Billions of Dollars of Securities Sales from Members (FAS, FAZ, BBT, COF, PFG, WFC, USB)
The triple leverage ETF’s, the Direxion Financial Bull 3X Shares (NYSE: FAS) and Direxion Financial Bear 3X Shares (NYSE: FAZ), are perhaps the most volatile of all financial-stock ETF’s. This morning they are getting…
Why Is Microsoft Selling 5, 10, and 30 Year Debt? (MSFT)
This morning came a preliminary prospectus supplemental filing from Microsoft Corporation (NASDAQ: MSFT) to sell 5-year, 10-year, and 30-year debt instruments for undisclosed terms and undisclosed amounts.
Poor Bets in Oil & Derivatives, Rethinking the Buffett Game (BRK-A, BRK-B, COP, WFC, DOW)
Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) may have had the wind behind its back from its annual shareholder meeting, but that wind now may be breaking wind. This was Warren Buffett’s quarterly loss…
E*TRADE Raising $150 Million in Capital (ETFC)
E*TRADE Financial Corporation (NASDAQ: ETFC) has just filed with the SEC to sell up to $150 million worth of common stock. J.P.Morgan was listed as the distribution agent, and shares may either be sold…
Stress Test Results, Bank by Bank (AXP, BBT, BAC, COF, C, FITB, GS, JPM, KEY, MET, MS, PNC, RF, STT, STI, USB, WFC)
Finally, the stress tests are out for the US banking and financial institutions. Of the banks, 10 of 19 banks need a combined $74 billion of equity.The good news is that a few companies…
Consumer Credit Dries Up At Record Pace
If you think that credit to consumers (and by consumers) was being cut, you will see was an understatement. Consumer credit for the month of March was just released and it is the largest…