According to Reuters, banks may be hard hit by the bankruptcy of General Growth (GGP) and future commercial real estate defaults. Reuters reports that VW may overtake Toyota (TM) as the No.1 car…
General Growth (GGP), the big mall owner, filed for bankruptcy, as many experts thought it would. The company has $27 billion in debt and, with real estate prices depressed, it may be…
According to Reuters, Obama vowed to overhaul the tax code. Reuters reports that GM (GM) is working on a plan to cut dealers at an accelerated pace. Reuters writes that China’s first…
According to Reuters, Goldman Sachs (GS) would like to return to its old businesses and compensation practices, but it may not be able to. Reuters reports that the US is planning to…
Citigroup, Inc. (NYSE: C) was believed by many to be on the verge of death just six short weeks ago. But alas, the shorting and the selling doesn’t go on forever even if…
Douglas A. McIntyre Two things, which happened within hours of one another, will probably determine the value of bank stocks for the next several months. Optimism about bank earnings pushed up Citigroup(C) by 25% yesterday…
There would appear to be no end to the extent to which banks which received TARP funds will go to make Congress and the public unhappy with the program and its results.…
The Federal Reserve keeps saying that many of its dealings with the financial industry must remain secret. Congress keeps insisting that no such secrets should be kept from the taxpayers who are funding the massive…
Investors find it disconcerting to see the stocks in the huge financial institutions that are at the foundation of the global capital system trading up and down 25% a day, and, in…
Short sellers were figuring that after the bank rally late last month, banks shares were likely to give back some gains. That was working until Wells Fargo (WFC) reported that it would…
Wells Fargo & Co. (NYSE: WFC) is going to be taking the bank stocks significantly higher, particularly the Direxion Financial Bull 3X Shares (NYSE: FAS). The company is releasing earnings on April…
Several prominent bank analysts came out with statements yesterday saying that the largest US financial firms would post more heavy losses and that their accounting methods would obscure the worst of it.…
Maybe the market’s perception that bank stocks are out of the woods is premature. Many of the stocks in the sector have more than doubled from their early March lows. According to…
The assumption is that the earnings for the first quarter from most companies in the S&P 500 will be atrocious. That can be set side-by-side with the fact that the market now…
The rights offering made by HSBC (HBC) raised over $18 billion and the participation rate was over 96%. That should give banks which may need to raise capital in the near future…