Against a back-drop of several Wall St. analysts saying the credit crisis will damage bank earnings into 2009, Lehman Bros. (LEH) will cut 5% of its work force, according to Reuters. The brokerage has…
Oppenheimer now puts out a negative report on banks stocks every other day, like clock work. Today’s reports says that money center financial firms "may write off more than $170 billion of additional reserves…
In a call overseas earlier this morning, Lehman Brothers decided to cut its target prices on some select European investment banks. Here are three of the investment bankers that are traded in the U.S.:…
Banks are supposed to be one another’s friends. The all have the same problems now. They are all lobbying for the same relief. They often share customers. When they compete, the Marguess of Queensbury…
What is for sale on Wall St.? It depends on who one wants to believe. Some rumors are false and may be planted for nefarious reasons. Others are true, but their truth is not…
As each day passes, a larger and larger portion of the analyst community turns on banks and brokerages like a pack of wild dogs. The majority report now seems to be that most large…
Banks will post much better earnings as the year goes on. Most of their write-offs are behind them. What else is there on their balance sheets to revise down in value? That thinking is…
The Blackstone Group L.P. (NYSE: BX) has reported earnings this morning, and it’s really hard to find anything pretty in the release. The private equity leader posted a GAAP net loss of $246.7 million…
Barclays (BCS) said it would take a write-down of about $2 billion in impaired assets, some of them related to mortgages. The big Brit bank may have to raise $1 billion to keep its…
Verso Paper Corp. has just slashed its IPO terms in an amended IPO filing this morning. The company’s prior range was up to 18.75 million shares and an expoected price range of $16.00 to…
Annaly Capital Management, Inc. (NYSE: NLY) has priced its public secondary stock offering of 60 million shares of common stock at $16.15 per share. The gross proceeds are about $969.0 million before fees, and…
Anyone who does not think that insurance regulators have done what they can to keep credit ratings high at Ambac (ABK) and MBIA (MBI) is a chump. With their tremendous losses and risk in…
Apollo Investment Corporation (NASDAQ: AINV) has priced its proposed secondary stock offering this morning. The company sold 22,327,500 shares at an offering price of $17.11 per share, in an approximate $382 million of gross…
Hank Greenberg built AIG (AIG) from a nothing insurance company to one of the largest financial services firms in the world. Along the way, he became a billionaire, but shareholders figured he was worth…
Credit Agricole may have to raise over $9 billion to rebuild its capital after substantial mortgage-related losses in the last quarter. According to The Wall Street Journal "Crédit Agricole said it will launch an…