If investors had a notion that short sellers were going to stay in big financials, they were wrong. Short interest in the weakest companies in the sector dropped. Shares short in Citigroup…
Last October, Bank of America (BAC) cuts its dividend in half to $.32. Citigroup (C) has taken its down to a penny a share. There are not may reasons to invest in…
The board of AllianceBernstein (AB), controlled by majority shareholder AXA, dumped longtime CEO Lew Sanders. The stock has been way down recently. Over the last year it is off over 70%, but…
Most members of Congress are still remarkably upset that Paulson too the first half of the TARP money and used it for purposes much different than the ones he first set out.…
Henry Paulson wants the $350 billion still left in the TARP funding from Congress. He says the last part of the first $350 billion is going to Detroit. His logic seems to…
According to MarketWatch, "Standard & Poor’s cut the credit rating or outlook of 12 major U.S. and European financial institutions Friday, saying the move reflected its view of the significant pressure on…
Despite all the capital the Treasury has put into large US banks, their stocks may be about to make new multi-year lows. While the housing market is still hurting their derivative holdings,…
According to Reuters, the auto bill died in the Senate and there will be no more action this year. Reuters reports that the Bank of America (BAC) will cut as many as…
UBS has a research report out for the banking sector, and the report may take away some thunder from those who are hoping that banks will return to profits sooner rather than…
A leading bank analyst is certain that Wells Fargo (WFC) and Bank of America (BAC) are going to have to raise more money. No one seems to be listening. Both stocks are…
No matter how far down bank stocks go and how hard regulators try to keep short sellers out of financial shares, some of the smart money is willing to gamble that the…
The wonderful and extraordinary thing about big federal spending programs is that the government does not have enough people to keep track of how the money is used. Grifters are everywhere. So…
Analysts continue to slash estimates on bank stocks. Today it was Bank of America’s (BAC) turn. Citigroup lowered its estimates and price target on Bank of America due to marks and higher…
Douglas A. McIntyre According to Reuters, JP Morgan (JPM), Bank of America (BAC), and Merrill Lynch (MER) will cut a total of almost 20,000 jobs. Reuters reports that Boeing (BA) will sign a new deal…
24/7 Wall St. will name its annual CEO of the Year next week. The executive will be picked from a field of ten which we will profile this week. The CEOs are…
