More Madoffs To Come: The Heart Of Darkness Gets Legs
It is reasonable to wonder if Bernard Madoff was in his right mind. Was he ever aware that what he was doing was criminally and morally wrong? Any rational person would have known that…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 257What If Goldman Sachs & Morgan Stanley Actually Make Money? (GS, MS)
This is a very important week for earnings from brokerage firms (or the new bank holding companies). Tomorrow morning we have earnings from Goldman Sachs Group (NYSE: GS) and on Wednesday morning we have…
Schwab (SCHW): More Bad News For Citigroup (C)
Schwab (SCHW) said that trades by its customers dropped 18% from October to November falling to "408.0 thousand", as the firm likes to put it. The market still seems volatile. All that moving around…
Madoff: The $50 Billion Ponzi Man (NDAQ)
Bernie Madoff, the former non-executive Chairman of the NASDAQ (NASDAQ: NDAQ), has been arrested on an investor fraud case that has massive implications over trust and legitimacy on Wall Street. The good news is…
Delisting Roulette (NT)(F)(FNM)(FRE)(AIG)(SIRI)(JAVA)
The Nasdaq and NYSE have all sorts of rules about what a company has to have in terms of total shareholders, stock price, and balance sheet ratios to get listed. Both operations also have…
As Fed’s Assets Move Above $2 Trillion, Question Arises Of What It Is Really Worth
The Federal Reserve now has an asset base of more than $2 trillion. According to The Wall Street Journal, "Once recently announced programs to help consumer credit and mortgage markets are up and running,…
Facing Concerns About It Future, Bank Of America (BAC) To Cut 35,000 Jobs
Anyone curious about the health of the financial services industry got a look this afternoon. Bank of America (BAC) will cut 35,000 jobs over the next three years. According to the company,"The reductions are…
Jamie Dimon Outlines 2009 Concerns (JPM)
Jamie Dimon, CEO & Chairman of JPMorgan Chase & Co. (NYSE: JPM), gave an exclusive interview today to Erin Burnett on CNBC He gave some interesting data on his outlook for what lies ahead…
UBS Echoes Meredith Whitney: More 2009 Bank Losses (CMA, FHN, FITB, KEY, MI, RF, ZION, BAC, WFC, JPM)
UBS has a research report out for the banking sector, and the report may take away some thunder from those who are hoping that banks will return to profits sooner rather than later. This…
California Crisis & California Muni Funds (BCK, BFZ, BCL, BJZ, BZA, MYC, CEV, EVM, CCA, IIC, NAC, NQC, NCA, NVC, PCQ, PCK, VCV)
With ‘the Governator’ saying California is on the verge of financial Armageddon, there is concern about billions of investor dollars in municipal bond funds. This raises many questions about that sustainability of municipal bonds…
AIG Tries To Address ‘$10 Billion Claim’ (AIG)
American International Group, Inc. (NYSE: AIG) is trying to correct or refute the article that appeared today in The Wall Street Journal saying it still has some $10 billion in undisclosed counterparty obligations. The…
If Bank Analyst Is Right About Bank Of America (BAC) And Wells Fargo (WFC) No One Seems To Care
A leading bank analyst is certain that Wells Fargo (WFC) and Bank of America (BAC) are going to have to raise more money. No one seems to be listening. Both stocks are flat to…
Brokerage Consolidation Begins, Or Not (RODM, COWN)
If you have been waiting for the smaller brokerage firms in the Tier-2 and Tier-3 categories to start merging, it looks like the first shot in the consolidation wars has been fired. Rodman &…
Rock Star Bono Gets Pole-Axed By Elevations Partners (MOVE)(PALM)
Rock star Bono must be a lot less well off financially than he was two years ago. He must also wish he never met Roger McNamee, who runs private equity firm Elevation Partners where…
Goldman Sachs & Online Bank, A Silly Notion (GS, ETFC)
If you haven’t heard of a creative and backward way of trying to rapidly acquire assets, you can look to Goldman Sachs Group (NYSE: GS) this morning. The WSJ is reporting that the investment…