Victhom

Memories of Lehman Fading

That's why I'm loading Barclays (BCS) today at $17 with P/E of 4.75 vs US Banks with P/E of over 25 ... BCS is one of the cheapest bank and dividend coming back in Q3....

Lots of US Banks need to pay Tarp with huge Dillution before paying dividends....But Barclays
during the storm bought Lehman assets for only $2B....

That's what i call excellent management....

Wall Street Breakfast: Must-Know News

NOW CRAMER SEE JPM at $60

with P/E of 32

Sorry but i will buy UK Bank Barclays (BCS) with P/E of 4.83 at $18.30 and dividend is coming in Q3

Cramer/theStreet.Com raised its outlook for JPM today, 2Jun09:

JPMorgan (JPM Quote) estimates raised at Morgan Stanley through 2011. Overweight rating and $60 price target.

Credit Card Losses Will Be Meaningfully Higher in Q2

Alphin stop this...Bull....it??...... are not healthy...you need more $$$$ for god sakes???

“There are several ways to deal with this,” Mr. Alphin said. “The company is very healthy.”

nytimes.com/2009/0...


U.S. Says Bank of America Needs $33.9 Billion L. ANDREWS
Published: May 5, 2009
The government has told Bank of America it needs $33.9 billion in capital to withstand any worsening of the economic downturn, according to an executive at the bank, a determination that could make the United States the controlling shareholder in the bank.



Executives sparred with the government over the amount, which is higher than executives believed the bank needed. But J. Steele Alphin, the bank’s chief administrative officer, said Bank of America would have plenty of options to raise the capital on its own before it would have to convert any of taxpayer money into common stock, a move that would effectively increase the government’s holdings in the troubled bank.

“We’re not happy about it because it’s still a big number,” Mr. Alphin said. “We think it should be a bit less at the end of the day.”

Because Bank of America has already received $45 billion in federal assistance from the Treasury in exchange for preferred shares, it could satisfy regulators’ demands simply by converting the non-voting preferred shares to common stock.

Financial markets in Asia slumped 11 percent in early trading as investors questioned whether the results of the government’s stress tests of the nation’s 19 largest banks, whose assets represent about two-thirds of the nation’s financial system, would show more weakness in the financial system than hoped.

The Treasury Department declined to comment on Tuesday evening.

Under the arrangement worked out between the Treasury and Citigroup earlier this year, the Treasury will receive mandatory convertible preferred shares, meaning preferred shares that can be converted to voting shares of common stock at the will of the government.

If Bank of America relied on that conversion for the majority of the capital it needs to maintain, the govnerment wouildj become the nbakjn’s controlling shareholder.

Regulators have told the banks that the common shares would bolster their “tangible common equity,” a measure of capital that places greater emphasis on the resources that a bank has at its disposal than the more traditional measure of “Tier One” capital.

Citigroup, the largest and most deeply troubled of the banks, is expected to need to raise capital as insurance against any further downturn in the economy. The government told the bank it would need $50 to $55 billion in capital, a requirement that would force it to raise $5 billion to $10 billion in new capital, according to people briefed on the final results. Citigroup executives say the bank can easily cover any shortfall, and is considering several options to close that gap.

The Obama administration plans to publicize the results of stress tests on Thursday. The results are expected to reveal that a number of them need additional capital, and many banks have negotiated with the government on what the actual capital requirements should be since they learned of the preliminary findings last week.

The tests are also expected to show that several banks, including Bank of New York Mellon, Goldman Sachs and JPMorgan Chase, are healthy enough to repay TARP funds.

Mr. Alpin noted that the $34 billion figure is well below the $45 billion in capital that the government has already allocated to the bank, although he said the bank has plenty of options to raise the capital on its own.

“There are several ways to deal with this,” Mr. Alphin said. “The company is very healthy.”

Bank executives estimate that the company will generate $30 billion a year in income, once a normal environment returns.

The company has faced criticism over its acquisition of Merrill Lynch, the troubled investment bank, and last week, shareholders voted to strip the bank’s chief executive, Kenneth D. Lewis, of his title as chairman of the board. The board said last week that it still unanimously supports Mr. Lewis in his role as chief executive.

Mr. Alphin said since the government figure is less than the $45 billion provided to Bank of America, the bank will now start looking at ways of repaying the $11 billion difference over time to the government.

In the case of Citigroup, which has also received two taxpayer lifelines, executives say the bank can easily cover any shortfall, and is considering several options to close that gap.

Among them are efforts to accelerate the sales of several businesses within Citi Holdings, a holding tank for assets it plans to shed, or to expand its common stock conversion plans to a broader base of private investors who hold Citigroup preferred stock. Both measures would avoid an increase in the government’s expected 36 percent ownership stake.

Taxpayer-supported Banks have been eager to wean themselves from the government’s purvue, and many analysts have questioned how useful the stress tests will be in assessing their true health.

Also Tuesday, senior government officials said the Treasury Department is planning to require taxpayer-supported banks seeking to free themselves from the government’s grip to show that they can repay the lifelines without additional subsidies that have helped them survive the financial crisis.

Banks have had an indirect subsidy adopted by the government last fall that allows them to issue debt cheaply with the backing of the Federal Deposit Insurance Corporation. The Treasury is expected to announce as early as Wednesday that healthier banks must show that they can issue debt without the guarantees before they are allowed to exit the Troubled Asset Relief Program, or TARP.

The banks also must demonstrate that they will be able to sell stock to private investors and pass a government stress test to show that they are healthy enough to survive without the taxpayer aid.

The Obama administration plans to publicize the results of stress tests for the nation’s 19 largest banks on Thursday. The results are expected to reveal that some need additional capital.

The U.S. Banking System's Terrifying Balance Sheet

Is it me or all seeking Alpha bashing banks today???

Withney said "Do not Shart banks at this level" it's pocker...

Go for it...I'll buy more idiot...LOL

A Cool $200 Billion for Bank of America?

NOW WHERE IS THE SEC.....???

A Cool $200 Billion for Bank of America?

How do you call this if this is not "Manipulation"???

read both article...same day...by same analyst...

WHERE IS THE SEC????

#1 Garbage.....

Bank of America Needs $36.6 Billion, Oppenheimer Says
By David Mildenberg

April 8 (Bloomberg) -- Bank of America Corp., the largest U.S. bank, needs to raise $36.6 billion in equity to bring capital ratios in line with its peers, according to Oppenheimer & Co.

With investors reluctant to commit new funds to lenders, Bank of America is more likely to raise capital by converting preferred stock to common, or issuing 5.2 billion shares through the Treasury Department’s Capital Assistance Plan, said analyst Chris Kotowski in a report to clients today. Under the Treasury program, Bank of America may issue shares for $6.24 each, the report said.

Bank of America has already accepted two rounds of taxpayer support totaling $163 billion that included preferred stock purchases and asset guarantees. Chief Executive Officer Kenneth Lewis has said the Charlotte, North Carolina-based company will rebound from a fourth-quarter loss without more government assistance.

“It is perhaps unusual to model highly dilutive equity raises into earnings forecasts, but we believe that in the current environment, until credit quality stabilizes and capital requirements are more precisely known, it is the prudent thing to do,” Kotowski wrote.

“We disagree with his assumption,” said Scott Silvestri, a spokesman at Bank of America.


THE THE CORRECTION IN PM......

Bank Earnings Likely to Be Uneven: Analyst
04/08/09 - 12:54 PM EDT

Oppenheimer analyst Chris Kotowski, in an industry note published Wednesday, says he expects further writedowns, charge-offs and loan loss provisioning at the companies. He said the companies should "post something of a recovery" in the first quarter, but results are still likely to be "choppy,"
Kotowski predicts that BofA will need about $7 billion of fresh capital to bring its tangible common equity ratio to 6%, he writes. ????

Mike Mayo's Seven Deadly Sins of Banking

I Guess Mike Mayo is right....

Exemple...he said BAC has now a target of $8.00

I agree here why...

BAC Q1 2009 $ 0.03 20-Apr-09
BAC Q4 2008 $ 0.02 16-Jan-09 BMO
BAC Q3 2008 $ 0.62 6-Oct-08 AMC
BAC Q2 2008 $ 0.53 21-Jul-08

Such an improvment???

After 73% gain on Banks since march 05 I guess next is "PROFIT TAKING"...because $0.01 of improvment on BAC earnings is not "impressing" me at all...!!!

WHAT EVER CRAMER SAYS...LOL

Risks Abound at UBS

I guess you should verify some facts before assuming this piece of /%$/"/""!!"&??&...

"While many US banks have been hit hard with writedowns, losses, and resulting drops in stock prices, many European banks continue to trade at premium multiples despite facing similar if not more extreme credit risks and losses."

Barclays (BCS) trading at PE of 1.99

P/E (ttm): 1.99
EPS (ttm): 3.32

and dividend coming....read this...
"We have committed to recommencing dividend payments during the second half of 2009. Thereafter, and as previously announced, dividend payments will be made on a quarterly basis. We will set out our dividend policy
at the Annual General Meeting in April.John S. Varley CEO"

WFC:trade at PE of 22.17?? $0.05 dividend
P/E (ttm): 22.17
EPS (ttm): 0.70

JPM:trade at PE of 19.30 dividend $0.05
P/E (ttm): 19.30
EPS (ttm): 1.37

BAC:trade at PE of 13.03 dividend $0..05
P/E (ttm): 13.03
EPS (ttm): 0.55

NOW who trades at higher multiples???

Gewwwezzzz stop lying...LOL

Goldman and Morgan Stanley: Banks of Choice - Barron's

Barclays Keeps A Step Ahead
Vidya Ram, 03.16.09, 08:00 AM EDT
The bank's plan to sell part of its asset management division will help it avoid government influence.


Barclays PLC
03/16/2009 4:00PM ET$5.31$0.8920.14%



Barclays once again seems to be proving doomsayers wrong, with the British bank on the verge of a deal that could help it avoid it raising capital through a dilutive rights issue and taking on the government as a stakeholder.

Barclays (nyse: BCS - news - people ) confirmed on Monday that it was in talks with a "number of potentially interested parties" about the sale of iShares, part of asset management division Barclays Global Investors, but no decision has been taken by the board. A spokesman for the bank declined to say how much the unit could be sold for but press reports have suggested a figure of between 3.0 billion pounds and 5.0 billion pounds ($4.3 billion and $7.1 billion)

Barclays also received $8.5B from AIG.....

"Barclays was paid $8.5 billion"

Euro banks among top beneficiaries of AIG bailout
ReutersPublished: March 16, 2009

By Lilla Zuill

Goldman Sachs and a parade of major European banks, including Deutsche Bank , France's Societe Generale and the UK's Barclays , were major beneficiaries of more than $90 billion (64 billion pounds) of money paid out by AIG in the first three-and-a-half months after its bailout by the U.S. government last September.

The disclosure by AIG on Sunday is likely to trigger further criticism of why Goldman, with its many government links, and the European banks were funnelled such huge sums of U.S. taxpayer money after making bad bets on various securities, as well as strengthening the case of those who believe the whole bailout was botched.

Already this weekend AIG has come under intense attack by politicians for bonus payments it made to executives and staff for last year's performance despite its near-bankruptcy and rescue.


White House seeks to block bonuses at A.I.G.China likely to be stronger after crisis Barclays in talks to sell a U.S. unit to raise cashThrough three separate types of transactions, Goldman received an aggregate $12.9 billion. Among European banks, SocGen was the biggest recipient at $11.9 billion, Deutsche got $11.8 billion and Barclays was paid $8.5 billion.

Goldman and Morgan Stanley: Banks of Choice - Barron's

Honnestly I load up Barclays (BCS) from UK....why???

"We have committed to recommencing dividend payments during the second half of 2009. Thereafter, and as
previously announced, dividend payments will be made on a quarterly basis. We will set out our dividend policy
at the Annual General Meeting in April."John s. Varley CEO

I bought 25000 shares at $2.75 the day Cramer open his mouth on CNBC...Today BCS touch $5.75 US...I still own then for long term....

Also Jim Cramer tell US tax payers to sell Barclays (BCS) ...who is the king of ETF with iShares....and buy Bank of America and Citi Now read this....

Cramer is a "MANIPULATOR" read..I prove it...watch date....

seekingalpha.com/artic...

Barclays (BCS): “No! We are talking about a bank that is in grave trouble. No European banks are investible, nor do I want to invest in any of their securities.”

www.thestreet.com/stor...

Cramer: Dangerous Debt
01/26/09 - 09:52 AM EST

Random musings: Barclays(BCS Quote - Cramer on BCS - Stock Picks) makes it? They actually didn't blow up? It's interesting to see what happens to a bank when it reports decent numbers. It can go higher.

Now this....

seekingalpha.com/artic...

Barclays (BCS): “Such a sell it's scary…”???


www.thedailyshow.com/f...

PS: NOW YOU KNOW WHY I HATE CNBC....CRAMER...and the gangsters...LOL

Cramer's Mad Money - China Is Red Hot (3/10/09)

What about Barclays JIM???

Cramer is a "MANIPULATOR" read..I prove it...watch date....

seekingalpha.com/artic...

Barclays (BCS): “No! We are talking about a bank that is in grave trouble. No European banks are investible, nor do I want to invest in any of their securities.”

www.thestreet.com/stor...

Cramer: Dangerous Debt
01/26/09 - 09:52 AM EST

Random musings: Barclays(BCS Quote - Cramer on BCS - Stock Picks) makes it? They actually didn't blow up? It's interesting to see what happens to a bank when it reports decent numbers. It can go higher.

Now this....

seekingalpha.com/artic...

Barclays (BCS): “Such a sell it's scary…”???

Funny to see Barclays CEO comments JIM??? BAC and Citi no DIVIDEND for 3 years...you say BUY and Barclays with dividend coming you say sell??? WOW!!!!

"We have committed to recommencing dividend payments during the second half of 2009. Thereafter, and as
previously announced, dividend payments will be made on a quarterly basis. We will set out our dividend policy
at the Annual General Meeting in April." John Varley CEO

Jim you are better in the dailyshow for new job as a "CLOWN"....

www.thedailyshow.com/f...

Cramer's Mad Money - Buy Bank of America (3/10/09)

Hey Jim Remember when you are manipulate the markein hedge fund???

You still do...I can prove it with Barclays (BCS)

read yourself...

Cramer is a "MANIPULATOR" read..I prove it...watch date....

seekingalpha.com/artic...

Barclays (BCS): “No! We are talking about a bank that is in grave trouble. No European banks are investible, nor do I want to invest in any of their securities.”

www.thestreet.com/stor...

Cramer: Dangerous Debt
01/26/09 - 09:52 AM EST

Random musings: Barclays(BCS Quote - Cramer on BCS - Stock Picks) makes it? They actually didn't blow up? It's interesting to see what happens to a bank when it reports decent numbers. It can go higher.

Now this....

seekingalpha.com/artic...

Barclays (BCS): “Such a sell it's scary…”???

NOW CEO OF BARCLAYS JUST SAID THIS...
"We have committed to recommencing dividend payments during the second half of 2009. Thereafter, and as
previously announced, dividend payments will be made on a quarterly basis. We will set out our dividend policy
at the Annual General Meeting in April."John S.Varley

BANK OF AMERICA TRADE AT $6.00 US now without DIVIDEND FOR 3 years...and you put Barclays down with dividend coming....

WATCH YOU JIM ON THIS SHOW IS BETTER...LOL

www.thedailyshow.com/f...

Banks: Just a Shadow of Their Former Selves

I still like a bank that grow in this market like Barclays (BARC.L) or (BCS)in US

www.barclayscenter.com/

Preview from Europe: Risk Aversion Returns to Haunt Stocks

I guess Barclays just give an uppercut and K.O to shorts for next Tuesday LOL

Barclays to unveil £6bn profit after shares slump
Barclays is preparing to unveil annual pre-tax profits of around £6bn when it updates the market next month, The Sunday Telegraph has learnt

By Mark Kleinman and Graham Ruddick
Last Updated: 8:55PM GMT 17 Jan 2009

The bank's share price plunged 25pc in the last hour of trading on Friday leading to Barclays releasing an unusual statement, aimed at reassuring investors, which said it expected 2008 profits to be "well ahead" of the £5.3bn consensus estimate of City analysts.

"The board expects to report profit before tax for the year well ahead of the £5.3bn consensus estimate of sell-side analysts," said the statement.

The sharp fall in Barclays' share price had led to fears about the extent of bad debts on its balance sheet and that it would be forced to participate in the latest phase of the Government's efforts to rehabilitate the banking sector. Analysts also suggested the bank could have been targeted by short-sellers, after the ban on short-selling was lifted on Thursday night.

Barclays insisted it knew "no justification for the fall in share price" after its shares fell to 98p, down 45pc in the week and their lowest since 1993.

The bank snubbed the first bail-out package by the Government in October, which saw the state inject £37bn into HBOS, Royal Bank of Scotland and Lloyds TSB in return for significant stakes.

Barclays instead secured £7bn of investment from Middle East investors as it sought to maintain control over its international strategy, dividends and remuneration.

Bank of America Facing Mortgage Servicing Losses

Lewis should spin-off some asset like MERRILL DIVISION....LENDER DIVISION....and GET GOOD INSURANCE DIVISION.... and the Bank division....this will creat value for shareholders instead to create a "Conglomerate" like CITI that was prove unefective and costly....creat 4-5 divisions will create value....and more synergies and less tensions....inside business...exemple...B... BOYS from Merrill would be more than happy to run the business with support of BAC....than be controlled by regular bankers....