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Latest Headlines
How many more banks will fail?
So far this year, regulators have shuttered 77 lenders. That's the most in 17 years, but the number will undoubtedly rise. Bloomberg reports that star bank analysts Meredith Whitney predicts more than 300 banks will fail in 2009 . While the federal financial bailout efforts have generally i
Mayo pares estimates for Citigroup
Deutsche Bank analyst Mike Mayo has boosted his loss estimate for Citigroup in 2009 by 30 cents to $1 per share. He also cut his 2010 earnings estimate to 75 cents per share from $1.15, according to media reports. In slashing estimates for a host of banks, Mayo noted the recession and the pressure
Level three assets to rise?
Once banks started writing off lots of toxic debt, some thought we'd see a significant decline in level three assets, but that may not necessarily materialize as a trend. JPMorgan said in an SEC filing, for example, that its level three assets are on the rise. The increase reflected transfer of CL
