Congress does not like the way that most bailout money is going to banks. It wants to see the little guy with the underwater mortgage and stagnant income get some direct help.…
Barclays (BCS) turned down cash from the UK government. Unlike most large US banks, it did not want to trade independence for money. Companies such as Goldman Sachs (GS), JP Morgan (JPM),…
According to Reuters, investors and banks are in a struggle over whether financial companies should be able to change the way they value assets under accounting rules. Reuters writes that improvements in…
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…
Too many mouths to feed. Someone will have to starve. Now that Henry Paulson has $700 billion and some discretion about how to spend it companies from car manufacturers to airlines want…
For the period ending October 15, short sellers got out of most banks and brokerage stocks. That is a shame for them. They could have made a killing this week. The short…
NCC (NCC) was bought today by PNC in what most people would view as a classic "takeunder" The price of the deal was well below where the shares traded yesterday. NCC’s stock…
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…
No matter where economists look there is no evidence that a recession in the US, EU, and Asia is doing anything but deepening. The stock markets are the least of it. Some…
It is a good thing Wachovia (WB) will not have to go it alone. It would not make it. Wachovia reported a net loss in the third quarter of 2008 of $23.89…
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…
The New York Times has a new writer, at least for a day. Warren Buffett has written an op-ed piece for the paper titled "Buy American. I Am." to shore up some…
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…
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…
