According to Reuters, Obama must get Americans to spend now and save later to help the economy, and consumers are wary of spending. Reuters reports that the SEC will consider restricting short…
Several prominent bank analysts came out with statements yesterday saying that the largest US financial firms would post more heavy losses and that their accounting methods would obscure the worst of it.…
Maybe the market’s perception that bank stocks are out of the woods is premature. Many of the stocks in the sector have more than doubled from their early March lows. According to…
At 842, the S&P is pushing near a 25% gains since it bottomed for the year-to-date at 677 on March 9th. The bank stocks continue an extraordinary run over that period. Citigroup…
The Financial Accounting Standards Board, or FASB, has voted to loosen its rules for the (now dreaded) balance sheet act of mark-to-market valuation for accounting. Many will argue that this is unfairly…
Secretary Geithner has been late to every party he has attended since talking over Treasury. His plans have often been tardy and full of holes. He seemed to redeem himself with the…
Today was a critical day for the banking sector. The country’s top banking chiefs met with President Obama over the recent discrepancies in TARP fund ramifications, paying back the TARP, executive compensation,…
There is nothing wrong with regulatory agencies and regulations for that matter. It is what keeps four-year-olds from becoming airline pilots and orangutans from being airline mechanics. The theory behind regulation is…
Secretary Tim Geithner designed a plan to assist the largest banks to rid themselves of toxic mortgage assets, but now Citigroup (NYSE: C) and Bank of America (NYSE: BAC) are aggressively buying…
Based on the rise in the short interest in banks at mid-month, it is clear how badly investors betting bank stocks would go down were mauled. As of March 15, shares short…
Maybe Wall St. is not so in love with the Treasury’s plan to buy toxic assets after all. Citigroup (C) is trading at $2.86 this morning, which is where it changed hands…
According to Reuters, a number of AIG (AIG) employees gave back their bonuses. Reuters reports that economist Martin Feldstein said the recession may last well into 2010 and the government may have…
According to Reuters, the House passed a bill that would tax AIG’s (AIG) and some other bonuses by 90%. Reuters reports that the US gave auto suppliers a $5 billion lifeline. Reuters…
Bank of America Corp. (NYSE: BAC) is now claiming it could pay back the TARP monies late in 2009 or in 2010, earlier than expected. In a report from the Charlotte Observer,…
Meredith Whitney is and was one of the most influential banking analysts on Wall Street. She was negative on the banking and investment banking sector for roughly two years and has been…
