The evidence that sales at many companies are struggling and that employment will suffer are almost everywhere. Recently, a division of GMAC said it would let 5,000 people go. According to MSNBC,…
According to Reuters, NY State sent subpoenas to Bank of Americ (BAC) executives over auction-rate securities. Reuters reports the Boeing’s (BA) machinist union voted to strike but stay on the job two…
The Commerzbank buy-out of Dresdner Bank was not a shotgun wedding. Neither institution was failing. The severe balance sheet problems facing may other global money center banks were not an important consideration.…
Short sellers believe that they have seen the bottom for financial shares and exited the industry en masse. Shares sold short in Merrill Lynch (MER) fell 12.6 million to 42.3 million. Short…
Citigroup (C) cut is earnings estimates for Goldman Sachs (GS), Morgan Stanley (MS), and Lehman (LEH). Today, Bank of America (BAC) cuts its earnings targets for Goldman and Morgan Stanley. Sanford Bernstein…
Why any bank which has undermined the value of its shares by poor management and taken billions of dollars in low-cost loans from the Fed would promote it environmental intiative is beyond…
Douglas A. McIntyre With nearly all of the top investment banks in a precarious financial position as a result of horrific investments in bad debt, banks have no shortage of things to worry about. But…
So far there are some changes seen in the holdings of Warren Buffett and Berkshire Hathaway Inc. (NYSE: BRK-A). We have consolidated these into groups and this group is from A to…
According to Reuters, Goldman Sachs (GS) will buy $1.5 billlion in assets from ABN. Reuters reports that Ford’s (F) new plans will not change because of the fall in gas prices. Reuters…
Back in January, the Supreme Court placed stringent limitations on scheme liability — the notion that investment banks and accounting firms that inadvertently helped companies commit accounting fraud could face civil liability…
Shorts sellers suffered from a lack of conviction on the direction of financial stocks in the period that ended July 31. They were clear that betting against tech was no longer a…
NY Attorney General Andrew Cuomo wants blood from the banks that marketed auction-rate securities but have not made settlements with him. In his mind, Wachovia (WB), Morgan Stanley (MS), and JP Morgan…
The SEC informal investigation of Bank of America’s (BAC) recently acquired Countrywide Financial has been in progress for months and now there’s a new development. And it’s not good for Bank of…
Douglas A. McIntyre Ambac Financial (ABK) Cut To Underweight at JPMorgan. Ann Talor (AMM) Cut to Market Perform at FBR Bank of America (BAC) Cut to Neutral at UBS FEMSA (FMX) Cut to Equal Weight…
The safe-house for money center banks closed and locked its doors long ago. The mortgage-related paper crisis rolls on like a mighty river and its latest victim is RBS (RBS). But, victim…
