Citigroup (C) Worries about bank nationalization take shares to $1.61 from 52-week high of $27.35. Bank of American (BAC) Ditto. Down to $2.53 from 52-week high of $43.50. Wells Fargo (WFC) More…
Today marks a monumental moment for the markets. The DJIA has broken through some of the major key support levels of November 2008, and now the questions are mounting over whether the…
Does the economy get worse from here or do the government programs recently signed into law increase confidence and start to put capital to work to create jobs and build businesses? In…
According to Reuters, Allan Stanford was found in Virginia. Reuters reports that the stimulus is unlikely to fix state problems. Reuters writes that US consumer prices probably moved up in January.
Meredith Whitney, one the most influential pundits in the financial sector today, has left Oppenheimer and has started Meredith Whitney Advisory Group. Today she told CNBC’s Maria Bartiromo that her outlook for…
The number of reasons that banks may have to be nationalized my have just grown by one. Default rates on credit cards may end up being much higher than had been previously…
When the House Committee on Un-American Activities began its investigations after WWII looking for communists in the US government, it might have had a semi-legitimate goal. That objective did not last long. …
Wall St. keeps coming up with new ways to waste money and upset Congress, the Administration, and the public. Part of the argument made by large financial firms for paying out big…
There is not going to be much positive press today about the U.S. banking sectors. The top CEOs of America’s banks are going to testify before the House Financial Services Committee. Despite…
The failure of the banking and credit systems are happening faster than most analysts had predicted. RBC Capital yesterday predicted that 1,000 banks could fail in the US over the next two…
It seems that Uncle Sam via Treasury and via Congress is going to give the markets what they want. TARP, TALF, Bad Bank, aggregation, accounting rule exceptions, and the rest. If you…
It is wonderful to watch boobs look back at history. It takes great skill to examine details and miss the obvious. The Congressional Oversight Panel which is reviewing how well TARP money…
According to Reuters, Democrats say that the Senate will pass the stimulus bill today. Reuters reports that Moody’s cut Toyota’s (TM) rating for the first time in 10 years. Reuters writes that…
Bank of America (BAC) hit another 52-week low today at $3.77. Wells Fargo (WFC) got close. The IMF said that that the banking crisis is far from over.
Much of the crisis in the banking industry has been blamed on the inaction of the boards of directors at companies including Bank of America (BAC) and Citigroup (C). Some of Citi’s…
