Hints and tips:
...Neither the monster national players (JPMorgan Chase, Bank of America, Wells Fargo, Citigroup) nor the regionals (PNC, M&T, et al) have had much to say about the economy’s effect on credit quality....
...BlackRock, Wells Fargo, Bank of America and State Street were also excluded from doing business with the state, Oklahoma said....
...Andrew Garthwaite et al at Credit Suisse has had a fiddle about with the model portfolio, resulting in insurers getting a push....
...We expect this to repeat and be further aided by the time consumers have had to spend at home as well as a lack of alternative discretionary spend. Our Google Trends analysis supports this....
...No longer did banks’ lending officers decide on loans for businesses or mortgages; those decisions instead rested in the markets for mortgage-backed securities, corporate paper and junk bonds....
...Mr Buffett’s biggest source of dividend income from the sector, meanwhile, will come from Wells Fargo, which confounded some on Wall Street this week when regulators waved through its capital distribution...
...(Financial Times) Iraq’s prime minister Nouri al-Maliki struggled to maintain his grip on power with a Sunni insurgency swirling around the capital and political rivals inside Baghdad’s fortified Green...
...(Wall Street Journal) - Goldman et al should be forced to incur losses on mistaken trades, says Myron Scholes. (Financial Times) - Samuel Brittan: Productivity matters, but it’s not everything....
...While the black taffeta evening gowns and sturdy looking peacoats on Karlie Kloss et al shouted winter, the models’ peachy complexions were all spring – try Bobbi Brown’s Sheer Color Cheek Tint in Sheer...
...Among financials, JPMorgan shares sold off, down 1.3 per cent to $40.04, while Wells Fargo lost 1.5 per cent to $32.02. The Dow Jones Industrial Average fell 0.5 per cent to 12,756.18....
...(Financial Times) US prosecutors are suing Wells Fargo, accusing it of lying about the quality of mortgages it issued with Federal Housing Authority insurance....
...Wells Fargo, which has amassed a record 33.9 per cent share of new mortgage loans, according to Inside Mortgage Finance, said on Tuesday it was raising its estimate of probable losses on repurchases to $1.4bn...
...John Stumpf, chief executive of Wells Fargo, earned $19.8m, while Citigroup’s Vikram Pandit earned $14.9m....
...Those investigations have led to settlements with Deutsche Bank and Citigroup and a pending lawsuit against American Home Mortgage. “We have more cases like that coming.”...
...This was expected but it’s still a potentially damaging blow to Bank of America, Wells Fargo, JP Morgan Chase, Citi, and GMAC, and to a housing recovery that is yet to even begin....
...When it was over, I went home and ate everything under the sun.”...
...However, he was prepared to invest in banks at the right price, obtaining 10 per cent of Wells Fargo for less than $300m in 1989 and 1990, helped by what he called “a chaotic market in bank stocks”....
...Bank of America added 3 per cent to $11.14 as investors reacted positively to news that the bank will pay $8.5bn to finally settle claims by investors that mortgage-backed securities sold by its Countrywide...
...Some of the largest mortgage servicers are scrambling to make the most of this shift. Wells Fargo is holding seminars to teach real-estate brokers how to conduct short sales....
...Call it what you will — but it’s more L-like than V....
...Though not always hip, the design scheme ensured a strong, classical look that suited any well-appointed home....
...In the US, the carnage is well under way....
...Wells Fargo, for example, announced its best quarterly earnings ever....
...Countrywide Financial Corporation, et al is ostensibly brought on behalf of purchasers of such CWALT, Inc. mortgage pass-through certificates, as well as various other mortgage-backed securities registered...
...Recommended discourse: JCK et al at Alea....
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