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…
Good deeds should be their own rewards, but in the stock market that it not entirely true. Good earnings, especially in a harsh world, are supposed to yield shareholders something. In the…
JPMorgan Chase (NYSE: JPM) has just released earnings and Jamie Dimon is showing he is a better manager even than the most positive reviews have given him over the years. The banking…
Douglas A. McIntyre One size fits all. That is the reasoning behind Treasury’s plan to invest money in a number of large banks by purchasing preferred shares. Jamie Dimon of JP Morgan (JPM) and Lloyd…
According to Reuters, the Treasury will make $250 billion directly into banks. Ciitgroup (C) and JPMorgan (JPM) would get $26 billion each. Merrill Lynch (MER) and Bank of America (BAC) would each…
A big up day in the market, say 4% or 5%, is not a rally, at least not any more. The DJIA has proved that it can move 1,000 points from bottom…
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…
