The raging debate about the largest American banks is whether their stock market values should be zero. Economist Nouriel Roubini, the most highly paid pessimist in the world, recently said that US…
The carnage among financial stocks is so complete, that they are listed here witht thier lows: Bank of America (BAC): $5.17, Citigroup (C): $2.80, Wells Fargo (WFC): $14.02, JP Morgan (JPM): $17.70,…
Bank of America Corporation (NYSE: BAC) has put itself right in harm’s way if you have been watching its share price over the last week (and longer). Ken Lewis is either going…
Douglas A. McIntyre The federal government really does not want to build a "bad bank" to take toxic assets from America’s largest financial institutions. It has taken a number of measures to avoid it. The…
The rehabilitation and restructuring of Citigroup (C) was supposed to take months, or maybe a year. The big bank got a cash infusion when it sold a part of Smith Barney to…
Now that Bank of America (BAC) has been given $20 billion more capital from the government in addition to about $118 billion in guarantees against toxic asset losses, the subject of whether…
Bank Of America (BAC) Needs a bigger government bailout. Drops to $7.35 fro 52-week high of $45.08. Regions Financial (RF) Bad day for banks. Falls to $5.97 from 52-week high of $25.84.…
Analysts have been concerned that JP Morgan (JPM), considered the most successful of the large US banks, might miss its numbers and turn in a loss The financial firm held the line…
Congress is fighting with both the administration that is leaving and the one that is coming about what should happen to the $350 billion left in the TARP. Most legislators do not…
According to Reuters, Steve Jobs will take a medical leave from Apple (AAPL) until June 30. Reuters reports that Bank of America (BAC) is in discussions with the government to get billions…
The conventional wisdom was that 2008 would be the worst year for bank losses in years, but that it would be the bottom. The damage of mortgage-backed securities has moved into the…
If a world where corporate earnings are completely predictable is a "10" and a world where they cannot be predicted at all is a "1", most of the last several years have…
The Wall Street Journal has made a great deal of the fact that six big company CEOs have been sacked in the last eight days. Chief executives are fired all the time,…
For the latest reported period, ending December 31, short sellers did not make any notable moves in or out of tech, financials, or industrial shares. What they did do was take impressively…
Oppenheimer’s star banking analyst Meredith Whitney slammed the banking giants yet again this morning. The difference between today’s note and her prior criticisms, is that now she expects that many banks will…
