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…
Wells Fargo & Company (NYSE: WFC) is following Jamie Dimon’s lead this morning with better results than other banks. The only "AAA" rated bank posted $0.49 EPS vs. $0.41 estimates. Revenues were…
Douglas A. McIntyre Wells Fargo & Co. (NYSE: WFC) is the latest of the banking giants to look like the old Citigroup Inc. (NYSE: C) business model. This became the case with the acquisition of…
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…
According to Reuters, world markets are waiting to see how the bailout of banks in Europe and the US will work. Reuters reports that Japan’s Mitsubishi UFJ Financial Group is looking for…
A few days ago, it would have been nearly impossible to believe that the deals for Bank of America (BAC) to buy Merrill Lynch (MER), for Mitsubishi UFJ to buy 20% of…
According to Reuters, the US is looking at guaranteeing billions of dollars of bank debt and temporarily insuring all bank deposits. Reuters reports that Citigroup (C) has ended talks about taking over…
The most wonderful thing about the current financial crisis is that it is a monument to human optimism. Every day executives and government officials signal that things may be getting better. Everyday…
Henry Paulson watched the Brits come up with a new plan to save the banking system before he did. He is probably embarrassed by that. He and Bernanke seemed to have a…
According to Reuters, the US Treasury may buy interests in large banks following the model set up by the UK. Reuters reports that IBM’s (IBM) earnings strength helped calm tech investors. Reuters…
Vikram Pandit, CEO of Citigroup (C), should be so lucky as to have Wells Fargo (WFC) steal the buyout of Wachovia (WB) from him. Citi has gone into court asking $60 billion…
According to Reuters, US markets fell to five-year lows. Reuters writes that Wells Fargo (WFC) could end up with over 75% of Wachovia;s (WB) deposits. Reuters reports that Morgan Stanley’s (MS) deal…
