banks

You probably heard about Morgan Stanley's financial results this past week -- not stellar. What most people seem to be buzzing about is that a rogue trader cost the bank $120 million. The trader has been suspended pending further…

I am pretty well satisfied that the subprime mess has reached its pinnacle. While there may yet be many more defaults, much of the disaster in subprime is baked into the cake. It's time to move on. But, move on to what? Most analysts say…

See Bloomberg News story here and Bloomberg's running tally on my blog here.Related Posts and articles:Loss EstimatesPaulson & Co. Says Writedowns May Reach $1.3 Trillion, Bloomberg 18 Jun 2008

According to Reuters, a Goldman Sachs industry analyst team led by Richard Ramsdenhas issued a report suggesting that global financial institutions are short an additional $65 billion of capital. Banks have raised over $300 billion in…

and cut dividend. Regionals across the country are now suffering. The second leg down for financials has truly begun. I warned on Fifth Third this past Thursday in What's happening at Fifth Third? See new story here. Update: 9:19 EDT…

From Bloomberg News: Regional Banks Tumble Zions, the lender with operations in 10 Western U.S. states, tumbled 10 percent to $33.44 for the steepest decline in the S&P 500. ``Weakness'' in residential construction and land values in…

U.S. regional bank M&T has sued Deutsche Bank because of losses M&T suffered on CDOs sold to it by the German bank, according to the German website Der Spiegel. Deutsche Bank allegedly told M&T that the CDOs were "safe" and…

I was reading a report by the New York Times today, which outlined that Wall Street has earned half of what it earned last year because of massive credit losses. That's a pretty spectacular fall. What it actually got me thinking about was…

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 here 2008 06 05 MBIA, Ambac, $1 Trillion of Debt, Lose S&P AAA Rating2008 06 05…

The Financial Times' blog Alphaville is reporting today that those investors who ponied up for shares in financial institutions after the financials wrote down billions and needed additional capital - those investors - lost $10 billion!…