banks

This is a big story coming from the Swiss German-language paper Sonntagszeitung. I originally saw this story in a derivative report from MarketWatch and then again at Calculated Risk. It's not getting enough play as yet in the…

UBS has announced that it expects further massive hits from the credit crisis and subprime meltdown to affect its quarterly earnings to be released soon. However, after raising a huge amount of equity capital, the company is…

Fortis, the Dutch-Belgian banking giant under pressure to shed assets because of the credit crisis, has disposed of part of its ABN Amro acquisition. Deutsche Bank has acquired the assets for 709 million Euros, according to a report in the…

I said last week that people were in the mood to get some of the dastardly perpetrators of this housing fiasco. Washington and law enforcement officials around the U.S. are listening to the anger of their constituents and acting by going…

As the financial sector melts down, one wonders which institutions are the safest: smaller local banks, money center banks, super regionals, credit unions. Credit unions are certainly something to think about because they offer high rates…

When lenders violate the U.S. federal lending disclosure laws, they may get stuck with the loan losses. This is the case now being argued before the courts in Wisconsin, with major implications on the number of cases to be filed and the…

From the Wall Street Journal: Florida Sues CountrywideThe Florida attorney general has filed a lawsuit against Countrywide Financial Corp. and its chief executive, Angelo Mozilo, alleging that the company engaged in deceptive and unfair…

The following are the links regarding the global credit crunch that have been recently added to the Credit Crisis Timeline. The full timeline is accessible hereLatest Additions2008 06 18 Subprime Losses Top $396 Billion on Brokers'…

The Vancouver Sun is on a roll today. They have another post on ICBC that makes for interesting reading. Frankly, I don't know what to make of it. But it makes for a good read. Chinese bank has market cap twice that of JPMorgan First,…

In this weeks Barron's, Louise Yamada writes that financials in the U.S. have not fallen nearly enough in respect to their meteoric rise in the U.S. indices. She predicts further pain in the sector to where they represent less than a…