Fed Extends Brokerage Rescue Deal
In another move to save the finances of almost every man, woman, and child in the US, the Fed has accounced that it will extending a credit facility that it provides for primary dealers…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 276Cramer Attacks John Thain of Merrill Lynch (MER, NYX)
On CNBC’s MAD MONEY tonight, Jim Cramer came out and added the Merrill Lynch (NYSE: MER) CEOJohn Thain to his "Wall of Shame" full of CEO’s that he wants to see go away. He…
Merrill Lynch (MER) Meets The IMF Head On
In an ironic bit of sloganeering, the current Merrill Lynch (MER) corporate promotion is "Even In Today’s Economy, There Are Smart Places For Your Money." It may not be lost on the shareholders of…
FDIC Chief Whistles Past The Graveyard
FDIC Chairman Sheila Bair, perhaps looking for a break in the relentless storm of the financial crisis, said that only 13% of banks on the agency’s watch list actually fail. According to Reuters, "The…
Merrill Lynch (MER): “We don’t need cash!!! We need cash!!!”
If you reviewed our technical break-down call in Merrill Lynch (NYSE: MER) today at Volume Spike you might not be surprised about tonight’s news. The brokerage and investment banking firm is raising capital and…
VeriFone Sets Do or Die Date With SEC (PAY)
VeriFone Holdings Inc. (NYSE: PAY) is seeing a rather solid recovery this morning early on, but the volume is rather light considering its past and shares have already pulled back nearly 5% from its…
KKR IPO Bodes Ill for Buy-Out Business
The Wall Street Journal reports that, when legendary buyout shop KKR debuts on the NYSE it will sport a market value of between $12 billion and $15 billion — roughly 10-12 times 2009 earnings…
As Two More National Banks Fail, Crisis Picks Up Speed
The Office of the Comptroller of the Currency revoked the charters of two national banks and the FDIC moved in to protect their depositors. First National Bank of Nevada and First Heritage Bank of…
A Stupid Call On Fannie Mae (FNM), Freddie Mac (FRE) Bail-Out
I will preface this by saying that I’m a big fan of David Dreman. I read his column in Forbes regularly, and his book Contrarian Investment Strategies is an all-time classic.
Lehman (LEH) May Sell Neuberger
First, Lehman (LEH) was being closed or sold. Then it was under attack from short sellers.Then it was being taken private. The latest rumor, floated by CNBC, is that LEH will sell off money…
Pimco’s Gross Says Mortgage Write-Downs To Hit $1 Trillion
Bill Gross of Pimco, perhaps the most famous bond investor in the world, says that bank write-offs for mortgage-related paper are far from over. In a note today he said "PIMCO estimates a total…
With Shares Low, E*Trade (ETFC) Becomes Buy-Out Target, Again
E*Trade (ETFC) had a bad quarter, in large part due to provisions for loan losses of $319 million. The company posted a net loss for the quarter of $119 million against a profit of…
Citigroup (C) To Raise $11 Billion?
Citigroup (C) may be looking at another $7 billion in write-offs and will probably have to raise $11 billion in new capital. If Morgan Stanley’s analysis about the big bank is right, Citi shareholders…
Bank of America Jams on Buyback and Dividend (BAC)
Bank of America Corporation (NYSE: BAC) just made key announcements regarding the dividend and the share buyback plans. It has just announced that it declared a regular quarterly dividend on common stock of $0.64…
The Mayhem In Bank Earnings Is Not Over (WM)(WB)(JPM)(AXP)(V)(MA)
Wall St. cheered what seemed to be withering results from Washington Mutual (WM) and Wachovia (WB). WaMu lost $3.3 billion and reserved $3.7 billion to handle loan losses. Wachovia lost $9 billion and its…