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…
Douglas A. McIntyre 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…
According to Reuters, tech giants reported reasonable earnings for last quarter because of cost cutting and a resilience in a bad economy. Reuters reports that Chrysler is still working on a deal…
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…
Douglas A. McIntyre According to Reuters, a bill to restrict credit card charges cleared a key committee in Congress. Reuters reports that Ken Lewis of Bank of America (BAC) says his firm what urged by…
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…
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 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…
According to Reuters, the government will give Chrysler and GM (GM) new aid. Reuters reports that IBM (IBM) revenue fell more than expected. Reuters writes that the Treasury’s plan to get toxic…
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…
Douglas A. McIntyre 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…
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…
According to Reuters, banks may be hard hit by the bankruptcy of General Growth (GGP) and future commercial real estate defaults. Reuters reports that VW may overtake Toyota (TM) as the No.1 car…
These are some of the top pre-market analyst downgrades we have seen early this Tuesday morning from Wall Street: Ameristar Casinos (ASCA) Cut to Neutral at JPMorgan. Bank of America (BAC) Started…
Two things, which happened within hours of one another, will probably determine the value of bank stocks for the next several months. Optimism about bank earnings pushed up Citigroup(C) by 25% yesterday…
