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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 »
Morgan Stanley (NYSE:MS) To Change Bonus Plans In Response to New UK Tax
The battle over bank bonuses continues as Morgan Stanley (NYSE:MS) made plans to change their current bonus payment plans in response to government actions in the United Kingdom. The Wall Street Journal reported that Morgan Stanley... More of this article »
Slate Questions Riskiness of Prosper Marketplace, Peer-to-Peer Lending
Mark Gimein set of a fire-storm in the peer-to-peer lending industry this week after publishing an article titled “You Are Unlikely To Prosper” about the risks associated with becoming an investor into Prosper Marketplace and other... 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 »
JP Morgan Chase (NYSE: JPM) Reacts to Public Outcry Over Bonuses
JP Morgan Chase (NYSE: JPM) gave in to public pressure to rein in compensation packages on Friday, cutting the revenue earmarked for compensation in an attempt to defuse some of the political outrage against large cap banks that are... More of this article »
Lending Club Investing Strategy: Red Flags to Lookout for When Shopping for Loans
Funding peer-to-peer loans is becoming a popular investment among many savvy investors and there is money to be made by becoming a lender via Prosper Marketplace or Lending Club, but it does require some work. To make a great rate... 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 »
SEC Admits It’s Investigating Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C), and Goldman Sachs (NYSE:GS)
The head of the Securities and Exchange Commission (SEC), Mary Schapiro, admitted today that it is investigating the sales practices of Collateralized Debt Obligations (CDOs) of Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Citigroup... 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 »
Lending Club Legit: Are Lending Club and Prosper a Legitimate Investment?
With the regulatory issues that peer-to-peer lending companies including Prosper Marketplace and Lending Club went through in 2008 and early 2009, many curious investors have asked about Lending Club’s legitimacy and Prosper Marketplace’s... More of this article »
Lending Club Taxes: What Taxes You Have to Pay on Lending Club Earnings
Unless you are investing through a tax-advantageous investment account, you have to pay taxes on your earnings either in the form of ordinary income or in the form of capital gains. This is also true for peer-to-peer lenders that are... 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 »
Prosper Marketplace Appoints Former Capital One Executive as Executive VP of Risk and Analytics (NYSE: COF)
Prosper Marketplace, one of the top two peer-to-peer lending companies in the United States, has announced the appointment of former Capital One (NYSE: COF) executive Jim Catlin as its new executive Vice President of Risk and Analytics. In... More of this article »