Ken Lewis, head of Bank of America (BAC), may be the most reviled financial executive in the United States. He bought Merrill Lynch when it was hemorrhaging money. He let big bonuses to Merrill…
When General Growth, the big mall owner, declared bankruptcy last week, experts speculated that large banks were about to face another string of losses from commercial real estate. Bank stocks have been down over…
An independent wind energy developer called First Wind announced today that it has obtained $376 million in financing for its wind generation project in Milford, Utah. This is for a 203.5 MW project called…
Wells Fargo & Company (NYSE: WFC) has posted its earnings this morning. The bank gave a net income figure of $3.05 billion, with a net income applicable to common shares of $2.38 billion. This…
In his hide-and-go-seek testimony before the Congressional Oversight Panel, Secretary of the Treasury Geithner said that the “vast majority” of banks have more capital than they need. He did not say which banks were…
Jefferies Group Inc. (NYSE: JEF) has started to be viewed as one of Wall Street’s beneficiaries of all the financial turmoil. It isn’t that the company is immune to the woes of the market.…
Each time the IMF looks at the global banking industry, its pessimism grows. Its concerns have risen so sharply in the last four months that it now believes that major banks will have to…
Banks like Goldman Sachs (GS) are saying they want to pay their TARP loans back. They are financially healthy and don’t want the government restrictions that being in the program brings. The Administration believes…
The recovery from the recession looked fine until late last week. Some of the data from the government and associations that keep track of economic indicators got a bit worse. But, that was not…
Bank of America Corporation (NYSE: BAC) is echoing the positive earnings of last week seen at other banking institutions. The stock is indicated lower on the individual credit metrics and the likelihood of profit…
It is bad enough that Richard Ramsden, a Goldman Sachs analyst, has a $1.50 price target on Citigroup (C), which is less than half of where the shares trade now. Ramsden is calling for…
The federal government has come up with a new way of taking control of the nation’s largest banks without investing a dime. According to The New York Times, “Treasury Department officials now say they…
The demands for the head of Citigroup (C) CEO Vikram Pandit have not ended and may rise to a crescendo again if the bank receives poor “stress test” ratings from the federal government. The…
Citigroup, Inc. (NYSE: C) is so far a winner this morning after a “more than acceptable” earnings report. The troubled bank and financial supermarket posted a net profit at $1.59 billion on items, but…
Direxion is at it again with triple-leverage ETFs. If you love trading the financial stocks for triple leverage via the Direxion Financial Bull 3X Shares (NYSE: FAS) or shorting them with triple leverage via…