China’s new bailout package has been set up to make the US government look cheap. At $586 billion its ratio to GDP is impressive. The CIA Factbook puts the GDP on the…
Douglas A. McIntyre According to Reuters, Australia cut key interest rates. Reuters reports that a large Goldman Sachs (GS) fund lost $1 billion in the first ten months of the year. Reuters writes that the…
Congress does not like the way that most bailout money is going to banks. It wants to see the little guy with the underwater mortgage and stagnant income get some direct help.…
Barclays (BCS) turned down cash from the UK government. Unlike most large US banks, it did not want to trade independence for money. Companies such as Goldman Sachs (GS), JP Morgan (JPM),…
According to Reuters, the economy contracted in the third quarter as consumer spending dropped sharply. Reuters writes that Fidelity Magellan Fund bought shares in big banks in September including Bank of America…
Wall St. is a den of thieves and NY Attorney General Andrew Cuomo wants to wipe them out on his way to becoming governor like his father was before him. His latest…
Citigroup (C) is not going to make it, at least not an an independent company. The FT has reported that the head of Goldman Sachs (GS) called Citigroup CEO Vikram Pandit to…
This is obviously one of our ugliest mornings in years with futures trading limit down. What is interesting is that the financial stocks are the most leveraged to this, yet oddly enough…
No matter where economists look there is no evidence that a recession in the US, EU, and Asia is doing anything but deepening. The stock markets are the least of it. Some…
Perhaps it is because this is an election year, but everyone is going around asking "Are we better off than we used to be?" It is not just the baby-kissing politicians. People…
Analysts often as about "earnings quality". How accurate are quarterly numbers? Are they being "managed" to make a company’s fortunes appear better than they actually are? The question has come up in…
Bank earnings were hit hard this week. Even if the results at Citigroup (C), Merrill Lynch (MER), and JP Morgan (JPM) did not drive the credit system into insolvency, each company had…
Henry Paulson seems like a very large and old Eagle Scout. He would never mislead, at least not on purpose. He gave the impression as he announced that Treasury would dump $250…
According to Reuters, Swiss banks are getting large amounts of capital to fight the global credit crisis. Reuters reports that AIG (AIG) is lobbying to loosen government oversight rules. Reuters reports that…
It is as if the Paulson bank bailout and Monday’s 11% run up in the market never happened. The S&P closed today at 907.84, which is within three points of where it…
