Bank of America Corp. (NYSE: BAC) is being taken to the cleaners this morning. Shares closed down sharply yesterday at $23.77 after closing at $32.22 just the day before. Bank of America…
Perhaps it is important that someone be blamed for the failure of Lehman. Henry Paulson who did not order Treasury to step in with aid. The most convenient villain is Dick Fuld,…
Douglas A. McIntyre Vikram Pandit has been the CEO of Citigroup (C) for ten months. The only thing he has done right is collect $216 million in compensation. Much of that was for the sale…
According to Reuters, the House will vote on the bailout bill today. Reuters reports that JP Morgan (JPM) will not keep the CEO of WaMu. Reuters reports that John Thain of Merrill…
The 52-week lows are full and full of stocks each day lately. In a bear market it gets harder and harder to find stocks which are on their 52-week highs. The non-perishable…
Despite the realm of uncertainties we all face, there is one sector which has survived through the good times and bad times of the last century: movies. Movies haven’t even been killed…
Banks and investment banks who watched Bear Stearns, Washington Mutual, and Lehman go down in flames have learned a lesson. Bank of America (BAC) moved too fast to buy Merrill Lynch (MER).…
There is one interesting irony in this whole financial meltdown which goes which many will not want to admit. Citigroup Inc. (NYSE:C) and the financial supermarket model may actually be emulated by…
The Fed has been loaning banks and money managers an average of $188 billion a day over the last week. That is four times what the sum averaged a week earlier. Absent…
Washington Mutual (WM) failed yesterday and most of its assets where sold to JP Morgan (JPM). The price was $1.8 billion. JPM will have to write down $31 billion in bad loans,…
According to Reuters, talks over a US bailout of banks broke down and will begin again today. Reuters reports that Washington Mutual (WM) became the largest bank failure in US history. Many…
Oppenheimer’s star banking analyst Meredith Whitney is out with another scathing note on major banks this morning despite the government bailout plan. She slashed estimates on Bank of America Corp. (NYSE: BAC),…
General Motors (GM) said on Friday that it will draw down $3.5 billion on the $4.5 billion line of credit it put in place with JPMorgan Chase (JPM) and Citigroup (C) back…
The latest rumor on Wall St. is that Washington Mutual (WM) will be auctioned off and has retained Goldman Sachs (GS) to handle the deal. According to The New York Times, Wells…
According to Reuters, the federal government bailed out AIG (AIG) The Fed will loan the insurance company $85 billion for two years in exchange for a 79.9% stake. Reuters says that Barclays…
