It seems that when Congress is not in session that there is at least some peace, some tranquility, and some notion of what the rules of the great financial game for tomorrow…
Douglas A. McIntyre The demands for the head of Citigroup (C) CEO Vikram Pandit have not ended and may rise to a crescendo again if the bank receives poor “stress test” ratings from the federal…
There are not so many brokerage calls this morning for it being earnings season, but these are the top 10 analyst calls of upgrades and downgrades from Wall Street we have seen…
JPMorgan Chase & Co. (NYSE: JPM) rose about 7% yesterday ahead of this morning’s earnings announcement along with other major financial stocks, and now we know why. Jamie Dimon and friends at…
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…
The market capitalization of some big banks has doubled in a month. All of them will have “stress test” results from the government within a few weeks. Those that get fairly high…
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…
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 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…
A lot of people and members of Congress are upset that banks that took TARP money may buy toxic assets from other banks. There does not seem to be any problem with…
Douglas A. McIntyre The Financial Accounting Standards Board, or FASB, has voted to loosen its rules for the (now dreaded) balance sheet act of mark-to-market valuation for accounting. Many will argue that this is unfairly…
Today was a critical day for the banking sector. The country’s top banking chiefs met with President Obama over the recent discrepancies in TARP fund ramifications, paying back the TARP, executive compensation,…
According to Reuters, the Obama financial reforms face a bumpy road. Reuters reports that the NY State Attorney General has subpoenaed AIG (AIG) over its CDS contracts. Reuters reports that Obama’s financial…