Warping Economic Data For Fun And Profit
When the Case-Schiller monthly data on housing is issued, economic analysts pour over the information city-by-city to look for signs of a housing recovery. The data for February did not show a rebound in…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 239Bank Of America (BAC) Does Not Need $70 Billion
Stock research firm FBR has had trouble with its analysis about the banking industry before. It recently wrote that the US banking system needs at minimum $1 trillion in new tangible common equity. The…
Does Ken Lewis Survive At B of A Past Wednesday? (BAC, C)
Wednesday will potentially mark the apex for the scandals and controversy surrounding Bank of America Corporation (NYSE: BAC) as far as its role in Merrill Lynch bonuses, whether Ken Lewis (and/or other managers) get…
Nuveen Launches 4 Closed-End Muni Funds (NCB, NJV, NYV, NPN)
Nuveen Investments has completed the initial public offering of four new state-specific closed-end funds for municipal bind investors. The funds will begin trading on the NYSE Amex today and the total funds raised came…
If The Government Owns The Car And Bank Industries, How Does It Get Money Back? (BAC)(C)(GM)(TM)
By the middle of the year, the federal government will own large, and in some cases, controlling interests, in two car companies and several major banks. There is a chance the the extent of rescue efforts and government…
Northern Trust Raising Cash To Pay Off TARP (NTRS)
Northern Trust Corporation (NASDAQ: NTRS) is selling some $750 million worth of common stock in a public secondary offering. Simultaneously, the bank intends to offer some $500 million in principal amount of senior notes. …
FDIC’s Sheila Bair Calls Liquidity Crisis Over
FDIC Chairman Sheila Bair has been speaking today at a luncheon at the Economic Club of New York today. While there were many more things noted, there are two standout issues that she said…
Bank of America’s (BAC) Lewis Sold CFO His Porsche
Bank of America’s CEO Ken Lewis sold his CFO Joe Price a Porsche in 2007. According to SmarTrend, “While the details of the sale remain private, the transfer itself raises serious doubts regarding ethics…
Regions Financial (RF), Fifth Third (FITB), And Keycorp (KEY) Are Probably Banks That Failed Stress Test
Experts have told The Wall Street Journal that they think several of the banks which failed the government’s stress tests are in the Midwest and Southeast. According to the paper, “Three people familiar with the matter…
Four More Banks Fail: Stress Testing FDIC
Since four more banks have just failed, the question is bound to come up when the FDIC will run low on money and have to go begging to the Treasury. American Southern Bank, Michigan…
Stress Test Criteria, Very Conservative
TARP, TALF, PPIP. TBTF. How many more acronyms can we have? Today’s Stress Test might as well just be called the “ST.” Technically, this is called the Supervisory Capital Assessment Program, so we will…
Moody’s Likes What It Sees at Comcast (CMCSA)
Comcast Corporation (NASDAQ: CMCSA) received a subtle yet rather large compliment from a ratings agency this morning. Moody’s raised its rating on the company’s long-term senior unsecured debt further up into ‘investment grade’ territory. …
The Waterboarding Of Ken Lewis
Coercion and the use of force have been part of the American character since settlers started moving West at the end of the 18th Century. Gentility is not usually an acceptable approach to settling…
Over $150 Billion Coming In Treasury Auctions
The US Treasury is ready to open the floodgates next week in its planned Treasury auctions. This pertains to its T-Bills and to coupon maturity notes. The total tab looks like it will come…
If Banks Can Challenge Stress Tests, Are They Really Tests At All?
The purpose of the government’s stress tests of the nation’s 19 largest banks is to find out which will need capital. The evaluations are based on several artificial, and, perhaps, unrealistic criteria. One is…