NCC (NCC) was one of those banks that decided the mortgage business was simply an outstanding way to make money. The price of homes and commercial buildings would rise at 10% per…
According to Reuters, US senator Charles Schumer has asked the SEC to look at conflicts of interest at bond rating firms. Reuters writes that Washington Mutual (WM) are in favor of the…
After rafts of bad news from every corner of the business arena starting with GE (NYSE: GE) and spreading to Washington Mutual (NYSE: WM) and Wachovia (NYSE: WB), a hard luck report…
A look at the Washington Mutual (NYSE: WM) and Wachovia (NYSE: WB) deals to raise more capital indicates that other banks and brokerages are looking at below-market deals if their Q1 numbers…
Wachovia (NYSE: WB) will raise between $6 billion and $7 billion. Will the money come in at $28 where the bank trades now? That is already down by half from the 52-week…
This week, we’ll have an earnings onslaught from major US financial institutions for Q1 2008 quarterly results. What investors need to grasp from these financial giants is not whether or not the…
According to Reuters, Citigroup (C) will sell $12 billion in troubled loans to a group of private equity firms. Reuters reports that some members of the Fed believe that the US will…
Washington Mutual (NYSE: WM) has outlined its details of a financial aid or rescue finance package. The company is raising a total of $7 Billion via direct stock sales to an investment…
Douglas A. McIntyre These are the top individual analyst calls we are focusing on this Tuesday morning: Apple (NASDAQ: AAPL) Cut to Underperform from Market Perform at Morgan Keegan. Corning (NYSE: GLW) raised to Outperform…
Washington Mutual (WM) may get $5 billion in much-need capital. It is an example of how financial companies bet on subprime mortgages which cut their share prices by as much as 75%…
Douglas A. McIntyre The short interest in NYSE stocks hit a record for the March 31 period. The number compare to those on March 14. Shares short in banks and brokerages began to drop. Short…
There has been some misplaced optimism that financial stocks bottomed earlier this month based on the notion that much of the bad news about write-offs had come out. Mid-month, the Fed increased…
"The current financial crisis is the most serious since the second world war, and perhaps since the Great Depression."–The London Observer, March 23, 2008 Many investors find it hard to believe that…
The short interest in most large stocks traded on the NYSE increased as measured on March 14. The figures compare to February 29. Car stocks were hit especially hard. Shares short in…
Just a few months ago, sovereign funds could not get enough stock and debt in financial firms like Citigroup (NYSE: C) and Merrill Lynch (NYSE: MER). When the time came to bail-out…