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Morgan Stanley bucks earnings trend

While most big banks reported earnings well in excess of analysts' expectations, Morgan Stanley reported just the opposite: A per-share loss of $1.10 for the second quarter vs. an average loss... Read more...

No quick TARP payback for Bank of America

The good news is that Bank of America's capital position is strong and the government is satisfied. The bad news is that it's still a ways away from paying back its $45 billion in TARP funds.... Read more...

Citigroup CEO saga gets more interesting

It may be on again. Bloomberg reports that Citigroup is poised to go ahead with an exchange offer that will result in a much stronger capital position but also leave the government with a 35 percent... Read more...

The impact of the end of QSPEs

TheStreet.com takes a look at qualified special purpose entities, which you might have thought ended in the Enron era. FASB amended FAS 140 earlier this year to eliminate qualified special purpose... Read more...

Taxpayers to take a bath on Citigroup, post-exchange?

Exchange offers have been touted as way to for the government to help banks enhance their capital positions without having to inject more capital. This is something taxpayers may not stand for, and... Read more...

What to make of Citi's earnings?

People are buzzing about Citi's big first-quarter profit of $1.6 billion. However, if you account for the dividends on the preferred shares it paid the government, it posted a loss of $966 million.... Read more...

The Achilles heel of the toxic asset plan?

There's been a lot of talk of banks repaying TARP funds fairly soon. But that may not be possible for all banks. And any plans may have just been complicated by the Obama Administration's toxic asset... Read more...

Wells Fargo CEO to government: Tests are "asinine"

In remarks last week, Wells Fargo Chairman and CEO Richard Kovacevich had some choice words for the Troubled Asset Relief Program. He lashed out against the curbs imposed by the government... Read more...

Does John Thain have a credibility problem?

In a way, it's unfair to tar Merrill Lynch CEO John Thain with the "not credible" label. But that description has been voiced a lot this year--fairly or not.... Read more...

On the hot seat: Merrill Lynch's John Thain

When John Thain took the top job at Merrill Lynch, we noted that he seemed to be the right man at ther ight time. With his Goldman Sachs pedigree and NYSE success, there were plenty of people who... Read more...