Vegasjoe

Moody’s: Some US Banks Still May Be Undercapitalized

Maybe Warren Buffett slapped Moody's management, since he owns a slug of it, to get them to actually start rating securities based on risk, not how much these firms could extort in fees to maintain a fake high credit rating? At this late point, Moody's must do an awful lot to restore credibility.

[ED: Comment edited to remove abuse.]

Credit Cards: The Next Subprime?

V and MA do not take credit risk; they simply process transactions. They collect toll charges. Most banks have cut back their teaser transfer competition. Most banks now financially underwrite loans for everything. Imagine that. AXP is a buy at these levels. Maybe MBIA and AMBAC will insure credit card defaults since they got into every other dumb business other than muni bonds.

Doug Kass's Killer Shorts - Barron's

Why is Kass not shorting WM, WB, and MBIA? He picked the wrong financials in going after AMEX and WFC.

How Cheap Are U.S. Bank Stocks?

Big banks are toast; earnings compression will keep prices down, and valuations will be lower too for financial assets. Lots of consolidation and mergers in next 24 months.

Financials and Retail: Not as Dire as They Seem

This credit binge and deleveraging just goes to show that CEOs and other senior management at these institutions are grossly overpaid, never had an original idea, and rationalize the meltdown of their own stock as "everyone else was doing it, therefore, it must have been ok!" But then, when fired, the gutless Board's give them hundreds of millions for long and loyal service! Go figure! Who doI send my resume to at C, MER, WM, etc.....Commerical real estate is next! Goodbye regional bank CEOs.

Time to Buy Financials? 4 Potential Picks

LEH is a crap shoot; how much sub prime crap do they have on the books? The others seem ok, however, HNL is probably cutting its dividend. Why not WM and CFC? They have the most to gain if the sector is turning.