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Were Wells Fargo’s (NYSE:WFC) Fourth-quarter Results as Impressive as They Seemed?
Everybody seems to have made a big deal of the fact Wells Fargo’s (NYSE:WFC) fourth-quarter results far exceeded analysts’ expectations. But I’m not that convinced by them, as they generate some questions that will... More of this article »
Will Morgan Stanley (NYSE:MS) Go With More Risk or Smoother Sailing as They Failed to Meet Earnings Expectations
Morgan Stanley (NYSE:MS) stands in a very interesting place, as they performed relatively well in the economic conditions it operated in in the last quarter, yet their failure to meet expectations could put pressure on their to increase... More of this article »
Warren Buffett Doesn’t Like Obama Bank Tax, Saying it’s “Trying to Punish People”
I was surprised to hear Warren Buffett state in an interview on Bloomberg Television yesterday that he opposed the Obama tax on financial institutions, as he views it as “trying to punish people.” Buffett said in the interview... More of this article »
Bank of America (NYSE:BAC) Earnings Report Confirms We’re Still in Deep Recession
For the first time in over 20 years Bank of America (NYSE:BAC) posted its first annual loss, much of that from the ongoing default crisis from consumers’ inability or unwillingness to pay back their home loans. To a lesser degree... More of this article »
Will Wells Fargo’s (NYSE:WFC) Enjoy Profits in the Fourth Quarter?
There are a couple of factors which will play primary roles in the results reported by Wells Fargo (NYSE:WFC), and that is how the $2 billion of reduced shareholder income will affect their bottom line, and how well the mortgages from... More of this article »
Large Banks Fighting Back Against Obama Tax by Hiring Supreme Court Lawyer
When the top lobbying arm of the banking industry hired one of the leading Supreme Court lawyers to go over the proposal by Obama to tax the largest banks in the country, they are obviously sending a message to the administration,... More of this article »
Citigroup (NYSE:C) Star Andrew Hall Ready to Battle for $100 Million Compensation Package
Although the current economic circumstances seem to make the $100 million compensation package offered by Citigroup (NYSE:C) to its superstar trader Andrew Hall sound outrageous, he in fact had the contract in place before the crisis... More of this article »
Business as Usual for Bank of America (NYSE:BAC), Citigroup (NYSE:C), J.P. Morgan (NYSE:JPM) and Wells Fargo (NYSE:WFC)
Watching the unfolding compensation situation at banks after the last couple of years, shows that for Bank of America (NYSE:BAC), Citigroup (NYSE:C), J.P. Morgan (NYSE:JPM) and Wells Fargo (NYSE:WFC), the largest banks in America,... More of this article »
Why Citigroup (NYSE:C) Cash Cap at Below $100,000 is Meaningless
The latest move by a big financial institution, in this case Citigroup (NYSE:C), to limit cash bonuses in order to shore up their pubic relations campaigns, are in my estimation largely a waste of time. First of all, I personally really... More of this article »
Will New Morgan Stanley (NYSE:MS) CEO James Gorman Remain Committed to Less Risk Under Increasing Pressure?
One of the key strategies articulated by new Morgan Stanley (NYSE:MS) CEO James Gorman is he’s going to manage risk far closer and better than the company leadership has in the past, and the company won’t be as aggressive... More of this article »
Bank of America (NYSE:BAC), J.P. Morgan (NYSE:JPM) and Consumers Could Get Clobbered from Obama Tax
A5s we get deeper into the realization of the folly of the government bailout of banks and financial institutions – some of which were forced – the government is playing its big card now by proposing taxing many of the... More of this article »
Bank of America (NYSE:BAC) CEO Brian Moynihan Says “Too Big to Fail” Not the Issue
Bank of America (NYSE:BAC) CEO Brian Moynihan has seen the potential risk inherent in the dissatisfaction with huge banks in the United States, and he’s come out swinging since his installment of CEO of the company, replacing... More of this article »
JPMorgan’s (NYSE:JPM) Jamie Dimon Joins Bank of America’s (NYSE:BAC) Brian Moynihan in Saying Bank Size Wasn’t Reason for Economic Crisis
Testifying at the Financial Crisis Inquiry Commission – a 10-member panel created by Congress to find out the reasons behind the economic crisis – JPMorgan’s (NYSE:JPM) CEO Jamie Dimon reiterated what Bank of America’s... More of this article »
JPMorgan (NYSE:JPM) Leads Top Banks, including Bank of America (NYSE:BAC), Citigroup (NYSE:C) Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) in Bonuses
Among the five largest banks in America, JPMorgan (NYSE:JPM) led the way concerning how much they set aside for bonuses in the first nine months of 2009, with an approximate $29 billion total. All together, the five banks reserved... More of this article »
Why Small Business Lending from Bank Of America (NYSE:BAC), JPMorgan (NYSE:JPM) Wells Fargo (NYSE:WFC) and CitiGroup (NYSE:C) Doesn’t Guarantee Job Creation
Sometimes it’s a little frustrating to read and listen to clueless so-called financial and/or business journalists, as they regurgitate the stupid idea that government bailouts or big banks lending out money will help create... More of this article »
Bank of America (NYSE:BAC) Cranking Up Bonuses for Investment Bankers
Bank of America (NYSE:BAC) and Brian Moynihan has sent a clear signal to its investment banking brokers that they’re going to take care of them going forward, as bonuses are set to reach the levels they were in 2007 for Merrill... More of this article »
Editorial: Financial Crisis Theater Starring – Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), JP Morgan Chase (NYSE:JPM), and Morgan Stanley (NYSE:MS)
The next production of government sponsored financial crisis theater is set to open this week in Washington DC, and has assembled an all star ensemble cast of Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), JP Morgan Chase (NYSE:JPM),... More of this article »
Former Citigroup (NYSE:C) Executive Goes to Arbitration Over Frozen Severance Pay
I was wondering how long it would take for banking executives to start going after banks over the terms agreed to in relationship to severance packages, and we may be at the beginning of a number of arbitrations and lawsuits in connection... More of this article »
Citigroup (NYSE:C) Director John Deutch Stepping Down Under Pressure
Although there will be no mention of it from Citigroup (NYSE:C) or John Deutch, the board member for the giant financial institution will not seek re-election to the board this year, as pressures to get people on the board with more... More of this article »
Opinion: Should Citigroup, Inc. (NYSE: C), Capital One (NYSE: COF) Draw Criticism for Bowl Sponsorships
An article in the Houston Chronicle tapped into the populist sentiment against major banking institutions. Among their targets were Citigroup, Inc. (C) and Capital One (COF). At issue is the sponsorship of college football bowl games,... More of this article »
Will Falling Mortgage Apps and Expiring Tax Credits Cut Into Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC) Lending Profits?
The Mortgage Bankers Association (MBA) announced Wednesday that mortgage applications remained near a six-month low last week as rising rates cut into what has been a robust refinancing market. Rates on the 30-year fixed mortgage... More of this article »
Is Bank of America Corp.’s (NYSE:BAC) Brian Moynihan Working on Becoming the Voice and Face of the Industry?
Listening to and reading about what Bank of America Corp.’s (NYSE:BAC) Brian Moynihan has been saying in the first few days as CEO of the banking giant makes me think he’s attempting to position himself as the voice of... More of this article »
Bank of America Corp. (NYSE:BAC) Can’t Use Media Reports in Civil Trial
Bank of America Corp. (NYSE:BAC) received a blow from U.S. District Judge Jed S. Rakoff in their civil trial with the Securities and Exchange Commission, as Rakoff granted a request from the SEC to forbid expert witnesses for Bank... More of this article »