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....
...Andrew Garthwaite et al at Credit Suisse has had a fiddle about with the model portfolio, resulting in insurers getting a push....
...In six similarly-worded suits, filed on Wednesday at the Supreme Court in New York, the investors alleged that the banks – which also include Citigroup, Bank of New York Mellon, US Bancorp and Wells Fargo...
...(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....
...The mortgage servicing business is dominated by the large banks, such as Wells Fargo and Bank of America, but new regulations have made the business less attractive to the sector and there is a trend of...
...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...
...(Financial Times) US prosecutors are suing Wells Fargo, accusing it of lying about the quality of mortgages it issued with Federal Housing Authority insurance....
...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....
...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”....
...12.55 Mortgage indemnities to be used to help 100,000 young families struggling to raise a deposit to buy newly-built homes....
...In the US, the carnage is well under way....
...Citigroup closed down 4.5 per cent to $2.99, Bank of America fell 7.1 per cent at $7.25, while Wells Fargo was one of the worst performing banks, ending 10.3 per cent lower at $15.55....
...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...
...What really happened at Northern Rock, Royal Bank of Scotland et al? This gives you a clearer idea....
...Recommended discourse: JCK et al at Alea....
...That number could well deteriorate with up to 2m home foreclosures anticipated over the next 12 months....
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