regionals

Updated 535PM EST on 16 Sep 2008 to reflect information from this press release:National City Completes $7 Billion Capital RaiseWhile all eyes were focused on Lehman Brothers this weekend, many other players were making their moves to shore…

In case you missed it, the financial system in the U.S. is near collapse. This weekend was unbelievable. Lehman Brothers filed for bankruptcy. The world's largest insurer AIG is looking for the Fed to help it avoid collapse and Merrill…

Seven years ago, I was involved in a merger that was the last proposed under the old pooling of interests accounting rule that was phased out after June 30, 2001. This methodology was great because it didn't necessitate acquiring companies…

National City is one of the regionals under the greatest pressure and scrutiny. This Friday afternoon announcement has to make deposit- and shareholders alike very nervous.National City Corp., Ohio's largest bank, said the U.S. Securities…

I fully anticipate this will happen, so the question becomes: what will the Fed do?The FDIC stepped in at two banks over the weekend, 1st National Bank of Nevada and First Heritage Bank. These banks failed as a result of construction loans…

1st National Bank of Nevada and First Heritage Bank, operating in Nevada, Arizona and California were taken over by the FDIC on Friday. They always wait until Friday night to do their business. This marks the first FDIC closure action…

Recently, the SEC restricted short selling on a list of 19 stocks because of turmoil following the Fannie-Freddie worries last week. In effect, the SEC was signaling that these institutions are too big to fail because a number of these…

In the aftermath of the Meltdown of the GSEs and the heavy-handed regulatory solution used to stem the tide, regional banks are in focus for investors as they stand to the take the brunt of short-selling. Financial services bears know full…

As financial shares take a beating, it is a good opportunity to highlight the differential treatment of accounting for loans and for debentures and securities because this bodes ill for regional banks. FAS 157 The crux of the difference…

Looking at today's selling wave, a number of bank shares are down over 10% including Washington Mutual (WM), National City (NCC), Wachovia (WB), Zion (ZION). Many other shares are trading well into negative territory with share prices…