Loading...
Symbols:
Get Seeking Alpha Free Stock Alerts by Email!
Get Free Stock Alerts by Email!
Transcripts
- American International Group Business Update Call Transcript
- Family Dollar Stores, Inc. F4Q08 (Qtr End 08/31/08) Earnings Call Transcript
- Corel Corporation F3Q08 (Qtr End 08/31/08) Earnings Call Transcript
- Wells Fargo Acquisition of Wachovia Conference Call Transcript
- Resources Connection, Inc. F1Q09 (Qtr End 08/31/08) Earnings Call Transcript
- DemandTec, Inc. F2Q09 (Qtr End 08/31/08) Earnings Call Transcript
- Global Payments, Inc. F1Q09 (Qtr End 08/31/08) Earnings Call Transcript
- AngioDynamics F1Q09 (Qtr End 8/31/08) Earnings Call Transcript
- Lawson Software F1Q09 (Qtr End 8/31/08) Earnings Call Transcript
- MSCI Inc. F3Q08 (Qtr End 08/31/08) Earnings Call Transcript
-
Editor's Picks
-
Most Popular
- Opportunity in Emerging Markets Amidst This Panic
- iPhone Sales Drastically Surpass Q4 Consensus; Apple Reaches 10m Goal
- Buy, Sell or Hold: BofA Will Strengthen as the Weak Perish
- How Much Will a Wells-Wachovia Deal Cost Taxpayers?
- Fannie and Freddie Did Not Cause This Crisis
- 36 Opportunities for the Beginning of the Bull
- Full list of Editor's Picks »
- Iceland: When Too Big to Fail Becomes Too Big to Rescue »
- Who Is Now Number One in the Banking Industry? »
- 25 Cash Cows to Ride Out the Storm- Barron's »
- 36 Opportunities for the Beginning of the Bull »
- Bailout Bill Passes; What Happens Now? »
- 3 Stocks That Are Begging To Be Bought »
- Citi Examines Its Carrots and Sticks »
- Five Energy Companies That Spell Opportunity »
- Thrown Overboard - Fast Money Recap (10/3/08) »
- Now's the Time to Buy Bank Stocks »
- Big Tech Prepares for Big Layoffs »
Trading Center
Hedge Fund Jobs
Job Seekers: Search jobs by category, get job alerts by email or live feed, apply online See full list of jobs »
Employers: See all recruitment options, get applications online or by email Post a job »
highalpine
2 Comments
First Marblehead Fights to Free Itself from Credit Market Whims [view article]
Interesting article and analysis. The Savings bank must be providing a temporary haven for loan origination, however, it's capital base is insufficient to allow FMD to return to the origination volume that used to drive it's eranings. Further, the allowance for loan losses on Union's balance sheet is probably way low for the losses that the student loan portfolio will eventually show. Just look at the delinquincies revealed in the company's disclosures of it's securitization trusts (in Jan). That's probably why the T-1 capital has been raised so high at the savings bank. I agree that Goldie is probably helping to direct brokered deposits (a.k.a. Hot Money) to the savings bank. In my opinion, it's a good TEMPORARY tactic to gain some time, however, if the capital markets don't open up eveneually, FMD unfortunately will probably not make it. Finally, I thought the CapitalSource-Fremont deal cratered. I could be wrong, or do I have my faxed mixed up with the ier One acquisition? May 26 09:55 AMWhy I'm Not Long Downey Financial [view article]
Excellent analysis! KPMG is forcing Downey to account for the restructured loans as "TDR's". Further attempts to address the increasing delinquencies will only bloat the NAL levels more. While a portion will cure, the rising tide may overwhelm the earnings base. A significant writedown of the portfolio will cause a large erosion in capital, as the allowance for loan losses is now just a fraction of the non-performing levels. While the bank has about 700 million of capital in excess of regulatory minimums, it's not beyond the realm of possibility to see that floor challanged. Jan 31 11:48 AM