John Tamny RealClearMarkets
For some publicly held banks, the end of the share-price decline is seemingly nowhere in sight. Despite positive earnings news last week, Citigroup continues to bounce around in the $1-per-share range, while Bank of America remains in the low single digits.
The biggest factor dictating the health of financial institutions remains the Troubled Asset Relief Program (TARP). Indeed, it can’t be stressed enough that when the banks accepted TARP money, they effectively signed their death warrants because counterparties are understandably reluctant to do business with politicized entities. Plus, when the most pressing issue for a business involves pleasing politicians over shareholders, the days of the government-funded concern as a vibrant player in private markets are numbered.
Buffett Missed These Two…
Warren Buffett loves dividend stocks, and has stuffed Berkshire with some of his favorites.
But he overlooked two dividend legends that continue to print checks on a new level, they’re nowhere in his portfolio.
Unlock the two dividend legends Buffett missed in this new free report.
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