banks

This from the National Post.The note from Blackmont analyst Brad Smith followed news late on Friday that Moody's Investors Service had downgraded XL Capital Assurance. CIBC has exposure to XL Capital since the bond insurer provides it with…

The Washington Post has a story on regional and healthy banks that I highly recommend. Essentially, we are past the first wave of writedowns and are moving into phase two where it won't be about derivatives and RMBS's as much as underlying…

It's about time! I've been saying this day was sure to come and it couldn't arrive soon enough. After pouring over $300 billion of good money after bad, investors are perhaps saying enough is enough.The Wall Street Journal is reporting…

Rumors are that Citigroup is also going to have another big writedown.Citigroup Inc., in the latest sign of bloodletting on Wall Street, is set this week to embark on an aggressive round of layoffs within its investment-banking division,…

Now that it's come to light that Barclays went hat in hand to Japan to recoup some of the losses from its credit writedowns, one begins to understand that the Japanese banks are in a much better position today than their western…

Interesting post on Goldmans in the Guardian today. In the aftermath of another stellar quarter from the investment bank, the Guardian is asking "how does Goldman Sachs do it?" Their conclusion is that its a mix of good risk management…

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 here2008 06 09 Lehman Brothers to post $3 bln loss; sets $6 bln stock sale2008 06 09…

Banco Santander, to date, has looked very robust as a financial institution in weathering the credit crisis. Despite significant exposure to bubble markets Spain and the UK, the company has not been required to write down a large amount of…

The word on the street is that Lloyd's TSB, one of the major British banks not hit hard by the mortgage crisis, may be considering a bid for Germany's Dresdner Bank, now owned by the insurance company Allianz. If this sale does in fact…

You kind of saw this one coming. Bank of America is crazy to take Countrywide Financial's balance sheet onto its books. Apparently, S&P Equity Research agrees and correctly downgraded BofA to a sell rating because of the risk. Note:…