Most industries get to spread out their bad news. The current exceptions appear to be the automotive and banking sectors.Some days they can be hit from three or four sides. An impression…
According to Reuters, US car sales are expected to be down sharply for November. Reuters reports that the global recession is hurting Asian factories. Reuters reports that the GM (GM) board is…
According to Reuters, Paulson has turned his back on giving insurance companies part of the bailout Reuters reports that Rio Tinto (RTP) is faced with selling assets, Reuters reports that the head…
In a home run for troubled credit markets, Goldman Sachs (GS) raised $5 billion with backing from the FDIC. It is likely that a number of other US financial firms will follow…
It was just this last summer that the heads of Merrill Lynch (MER), Lehman, and Morgan Stanley (MS) said the financial crisis had peaked and its energy was dissipating. It would be…
The Paulson/Bernanke bailout is now spreading across the financial system like a prairie fire in a stiff wind. AIG (AIG) got one deal. A number of banks got a piece of another…
There had been speculation for almost a week that the government has been trying to broker a marriage between Goldman Sachs (GS) and Citigroup (C). Goldman has apparently been cool toward taking…
According to Reuters, Japan will supply money to the IMF. Reuters reports that Citigroup (C) is looking at buying Chevy Chase Bank. Reuters reports that the US may need to insure wholesale…
Rumors that Goldman Sachs (GS) will have to raise more money have helped push its stock from $123 less than a month ago to $71 yesterday. Wall St. wants to believe that…
Short sellers are still betting that financial shares will fall but they have boldly moved into shares of companies which are considered healthy, those with both good balance sheets and relatively strong…
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…
We are seeing many high volume price drops in actively traded shares today. In most cases, the earnings are to blame, but there are other issues affecting some stocks as well. Goldman…
Sometimes there is just lunacy written about financial companies, and sometimes there is lunacy inside of financial companies. Forget about the argument that there are usually both for a minute. Yesterday we…
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…
