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Bill Gross: Writedowns to hit $1 trillion
According to the Financial News Online write-down-o-meter, banks collectively wrote off $205 billion as of June. Since then, the total has marched higher. Is that number set to explode to even higher Read more...
Washington Mutual lays an egg
Things were looking good for much of the commercial bank sector this week. The upside surprises from the likes of Citigroup, Bank of Read more...
Man bites dog: Wells Fargo boosts dividend
These were welcome surprises: Wells Fargo, in addition to reporting a smaller-than-expected quarterly loss, actually boosted its dividend, to 34 cents from 31 cents. Read more...
Meredith Whitney weighs in on Merrill Lynch
Superstar Oppenheimer analyst Meredith Whitney has trained her sights on Merrill Lynch. She now expects Merrill Lynch to take total write-downs of $5.8 billion for Read more...
Second-quarter earnings still a question mark
Goldman Sachs analyst William Tanona has reduced his second-quarter earnings estimates at Bear Stearns, Lehman Read more...
Banking industry future still cloudy
So is the worst really over? We've been hearing as much from lots of executives as of late. But not everyone is buying it. Case in point: Former Fed official Vincent Reinhart says banks face an Read more...
Are prime consumers the next big worry for banks?
We've spoken ad nauseum about the risks of subprime debts that have filtered through the financial system in many surprising ways. But a lot of prime borrowers have been silently struggling through Read more...
Double-edged sword: Rising commodities prices
We tend to think of big farm-type companies as hedgers, who take the other side of bets waged by hedge funds. But when you get down to this, there's a fine line Read more...
Money funds and the credit crunch--whew!
There were a few scenarios out there that were really, really nasty. It's one thing when accredited investors take their lumps on hedge funds. But what if Ma and Pa started taking losses on their Read more...
Can John Paulson do it two years in a row?
John Paulson was the toast of the hedge fund industry last year. By betting correctly and massively against subprime-related debt, his Read more...