banks

The Irish government scrapped a planned recapitalization of Anglo Irish Bank and moved straight to full nationalization. While some may view this as a necessary move to shore up a troubled institution, I see this as ominous news because…

In my book, losing a gargantuan $125 billion qualifies you as the dumb money. This appears to be what has happened at Abu Dhabi's leading Sovereign Wealth Fund. I had been warning all throughout 2008 that the Sovereign Wealth Funds were…

JPMorgan Chase moved up its earnings announcement to today in order to surprise the market with better than expected earnings. The company reported full-year income of $5.6 billion and 4th-quarter income of $702 million or $0.07 a share,…

The statements coming from Meredith Whitney in this video interview with CNBC's Maria Bartiromo could not be more blunt: the financial serves sector is weak, needs bailout money and investors will be diluted. As a result, she expects…

Earnings season is upon us and I think it bears remembering that earnings season for banks has generally been associated with very bad news for banks over the past two years. Every earnings season is filled with surprise writedown…

It's a done deal. The Citigroup - Morgan Stanley dance is now over. The price for a 51% stake Smith Barney was $2.7 Billion. The seems like a very low valuation here but I haven't looked through the terms of the deal in depth. This is…

Vikram Pandit understands the seriousness of the challenge ahead, if Citi wants to remain a going concern. He must break the firm up and end Citi's disastrous experiment with becoming a financial supermarket.

There is no way to look past the way that the U.S. TARP (Troubled Asset Relief Program) has been administered and not understand we are seeing crony capitalism at work. One only need look at the way the British are doing things to see a…

Today, the Seattle Federal Home Loan Bank (FHLB) has admitted that it is on the verge of collapse and may need to avail itself of conservatorship, much as Fannie Mae and Freddie Mac did previously. One should see this announcement as a…

This just hit the wires. Apparently, Bob Rubin has tendered his resignation at Citigroup. Here is he story from the Wall Street Journal: