The Brown/Vitter bill being rolled out in Congress is essentially Armageddon to the TBTF banks, says Goldman, seeing it as mandating another $1.1T in equity for the banking system. Banks would need 12 years of earnings to build this amount organically, though the bill would give just 5 - say goodbye to lending. Break up the banks? BAC, C, JPM, and WFC all have multiple divisions with more than $400M in assets - the level at which the bill gets tough on lenders. [View news story]
HI -Gqwynfryn - agreed ! - it is cool ! for sure - as to the explanation the Japanese have also some God I thought - so why not " good bye " in colloqial terms for every day use ?
I thought that Alpha had deleted my comments because I called some dim witted politicians " mxxxxx" as in Europe but just the same in the US it seems,most politicians have an intellectual horizon at the frontier of their village of the last 50 years there is one big difference , most inEurope, France is an egregious example just see for Francois Hollande, but also the socialists in Germany ( ie SPD), because of that big issue of financial envy ( = NEID), can only think about to milk with ever increasing taxes of all kinds (no limit to imagination) the better off in the name of "social justice", social eqilibrium in English terms, the US luckily abhors " socialism"
The Brown/Vitter bill being rolled out in Congress is essentially Armageddon to the TBTF banks, says Goldman, seeing it as mandating another $1.1T in equity for the banking system. Banks would need 12 years of earnings to build this amount organically, though the bill would give just 5 - say goodbye to lending. Break up the banks? BAC, C, JPM, and WFC all have multiple divisions with more than $400M in assets - the level at which the bill gets tough on lenders. [View news story]
these stupid politicians will make sure that the Chinese banks all larger already than US TBTF , will eat up the the US banking business, these morons will decimate the US banking industry while China provides 100 % banking to ICBC , CCB , BofChina etc and we will finish with pigmy institutions in the US and Chinese banking will dominate international banking
for Gwynfrin - I thought sayonara meant good bye-that is what I wanted to ay
The Brown/Vitter bill being rolled out in Congress is essentially Armageddon to the TBTF banks, says Goldman, seeing it as mandating another $1.1T in equity for the banking system. Banks would need 12 years of earnings to build this amount organically, though the bill would give just 5 - say goodbye to lending. Break up the banks? BAC, C, JPM, and WFC all have multiple divisions with more than $400M in assets - the level at which the bill gets tough on lenders. [View news story]
Another hare-brained politician, how did the best business newspaper, the Financial Times of London, comment on the US Senate = "there are ony five members who have some basic understanding of international finance "
so. these guys are formulating our destiny = "sayonara!"
Bank Of America Has Failed Shareholders [View article]
There are Four comments I would like to make: 1) Bailout with taxpayer money- please do not forget that all that money was repaid with a profit for the USTreasury, in BAC's case ! 2)It is a widely held fantasy to believe that branch network banks make tons of money in an zero interest rate environment. The opposite is true -you make lots more money in say a " 5% interest rate " situation. 3)BofA , at the dire expense of the shareholders in Dec 2007 and 2008, saved a mountain of money for the taxpayer by swallowing two financially horrific acquisitions, ie Countrywide , a cesspool of radioactive assets, and Merrill L, a bankrupt company which you could have had for ZERO on that Tuesday following the Lehmann bust-up 4)agreed , I am also disappointed with the miserly dividend of 1 cent and was hoping for 5 cents. Buybacks are better for management and dividends better for shareholders.So, YES, I am disappointed with zero cash returns !
Bank of America (BAC) is engaged in "accounting arbitrage" says Manal Mehta, reserving far less for legal cases than it may have to pay out. If regulators forced the bank to properly account for the possible losses, it's likely they would disallow any capital returns and force BofA to continue socking away its profits. [View news story]
Bill,actually , I was. And, if these companies had not been bought by BAC, they would have gone straight to the US Treasury, and that ultimately , is the US taxpayer before any recoveries 4/5 years later, may be ! BAC was not generous by design but just dumb to do these deals. But definitely it saved a lot of money for the Treasury in whatever resuce scenario might have happend.
Bank of America (BAC) is engaged in "accounting arbitrage" says Manal Mehta, reserving far less for legal cases than it may have to pay out. If regulators forced the bank to properly account for the possible losses, it's likely they would disallow any capital returns and force BofA to continue socking away its profits. [View news story]
More sour grapes from the NYT camp. The NYT always wants to disparage BofA. Why does the NYT camp rather not applaud BofA for having spared the US taxpayer lots of money by swallowing (hard) on the acquisition of two moribund financial groups, ie Countrywide and ML. The bill for these two disastrous acquisitions was entirely paid by the shareholders on record of Dec 2007 & 2008.They lost more than 90 % of the then shareholder value. Who is Manal Mehta anyway ? I can hardly believe that the rigorous FED stress tests would ignore such an issue.
KeyCorp (KEY), State Street (STT), Goldman Sachs (GS), JPMorgan (JPM), and BB&T (BBT) make RBC's list of best-capitalized banks - those that the Fed this month should allow dividends/buybacks of 75-100% of earnings. WFC, FITB, and MTB are in the middle of the pack and should be allowed payouts of 50-75%. Capital laggards - BAC, C, and COF - may only be allowed payouts of 10-30% of earnings. [View news story]
Colin, I still do not get it why BofA is labelled as the least capitalized US bank by RBC when the published numbers say exactly the opposite in terms of Basel III capital
KeyCorp (KEY), State Street (STT), Goldman Sachs (GS), JPMorgan (JPM), and BB&T (BBT) make RBC's list of best-capitalized banks - those that the Fed this month should allow dividends/buybacks of 75-100% of earnings. WFC, FITB, and MTB are in the middle of the pack and should be allowed payouts of 50-75%. Capital laggards - BAC, C, and COF - may only be allowed payouts of 10-30% of earnings. [View news story]
what does RBC know we don't know ? I thought that until very recently, BAC was the best capitalized US Bank apart from being a pure play on the US economy which is much better performing than most others instead of being in 60 different markets like Citi.
More on Bank of America (BAC) (previous): The board approves a 60% increase in CEO Moynihan's base salary to $1.5M in 2013. Between his base salary ($950K) and stock bonus, he earned nearly $12M in 2012. [View news story]
He fully deserved it - no problem with paying for shareholder and company performance !
Total (TOT): Q4 net profit excluding changes inventories +13% to €3.08B vs consensus of €3B, EPS +3% to €1.05 and revenue +5% to €49.89B, with earnings boosted by higher refining margins and crude prices. Production -4%to 2.29M barrels of oil equivalent a day, due to a shutdown at the Elgin platform in the North Sea and flooding in Nigeria. Expects output to rise 2-3% in 2013, to sell $9B worth of assets. Proposes 2012 dividend of 2.34/share. (PR) [View news story]
TOTAL SA is a well managed company - the dark side for the share price and dividends being the fact that it is HQtered in France. The Hollande Govmt being strongly anti-business, aggressive left wing trade unions, and judges engaging in fantasy law suits over Total's CEO role with the Iraq oil for food program inspite of two DA's having recommended to stop any legal persecution of the CEO. But here we go, with a political leader Francois Hollande and his entourage living and thinking in a context when you could produce refrigerators in France and sell them profitably to China.
This just in: The lawsuits against Bank of America (BAC -5.1%) are never going to stop. Despite the $10B+ settlement with Fannie Mae, U.S. Attorney Preet Bharara makes clear he will continue to aggressively go after BofA for selling fraudulent loans to the GSEs. Maybe this, not the downgrade, is what has the shares in a funk today. [View news story]
I meant to say " ten times" in the second line, sorry for the typo
This just in: The lawsuits against Bank of America (BAC -5.1%) are never going to stop. Despite the $10B+ settlement with Fannie Mae, U.S. Attorney Preet Bharara makes clear he will continue to aggressively go after BofA for selling fraudulent loans to the GSEs. Maybe this, not the downgrade, is what has the shares in a funk today. [View news story]
BofA has already been tried for this by other regulators. In the US, you get sued ten iems by ten different agencies of the Govmt, state, federal or local. Has anyone ever measured the colossal waste which is being heaped on the private economy by the STATE , in the largest sense ??? The bureaucrats are just there to enhance their reelection potential with no regard at all for the the wasteful damage they are causing. It is quite obvious as they are never held accountable for being wasteful. Just look at the JPM " Londn whale situation" where the bank is being sued by 12 different US "state" agencies, committees of the Sewnate , the House etc. I would have thought ONE Regulator would be enough and adequate for dealing with this. Frankfurt Germany ( here we have just one Regulator= BAFFIN doing the lawsuits for infractions)
Bank Of America: You'll Pay Up When The Consensus Gets Cheery [View article]
Frankfurt,Germany
The Brown/Vitter bill being rolled out in Congress is essentially Armageddon to the TBTF banks, says Goldman, seeing it as mandating another $1.1T in equity for the banking system. Banks would need 12 years of earnings to build this amount organically, though the bill would give just 5 - say goodbye to lending. Break up the banks? BAC, C, JPM, and WFC all have multiple divisions with more than $400M in assets - the level at which the bill gets tough on lenders. [View news story]
in colloqial terms for every day use ?
I thought that Alpha had deleted my comments because I called some dim witted politicians " mxxxxx" as in Europe but just the same in the US it seems,most politicians have an intellectual horizon at the frontier of their village of the last 50 years
there is one big difference , most inEurope, France is an egregious example just see for Francois Hollande, but also the socialists in Germany ( ie SPD), because of that big issue of financial envy ( = NEID), can only think about to milk with ever increasing taxes of all kinds (no limit to imagination)
the better off in the name of "social justice", social eqilibrium in English terms, the US luckily abhors " socialism"
The Brown/Vitter bill being rolled out in Congress is essentially Armageddon to the TBTF banks, says Goldman, seeing it as mandating another $1.1T in equity for the banking system. Banks would need 12 years of earnings to build this amount organically, though the bill would give just 5 - say goodbye to lending. Break up the banks? BAC, C, JPM, and WFC all have multiple divisions with more than $400M in assets - the level at which the bill gets tough on lenders. [View news story]
these morons will decimate the US banking industry while China provides 100 % banking to ICBC , CCB , BofChina etc
and we will finish with pigmy institutions in the US and Chinese banking will dominate international banking
for Gwynfrin - I thought sayonara meant good bye-that is what I wanted to ay
The Brown/Vitter bill being rolled out in Congress is essentially Armageddon to the TBTF banks, says Goldman, seeing it as mandating another $1.1T in equity for the banking system. Banks would need 12 years of earnings to build this amount organically, though the bill would give just 5 - say goodbye to lending. Break up the banks? BAC, C, JPM, and WFC all have multiple divisions with more than $400M in assets - the level at which the bill gets tough on lenders. [View news story]
comment on the US Senate = "there are ony five members who have some basic understanding of international finance "
so. these guys are formulating our destiny = "sayonara!"
Frankfurt Germany
Bank Of America Has Failed Shareholders [View article]
1) Bailout with taxpayer money- please do not forget that all that money was repaid with a profit for the USTreasury, in BAC's case !
2)It is a widely held fantasy to believe that branch network banks make tons of money in an zero interest rate environment. The opposite is true -you make lots more money in say a " 5% interest rate " situation.
3)BofA , at the dire expense of the shareholders in Dec 2007 and 2008, saved a mountain of money for the taxpayer by swallowing two financially horrific acquisitions, ie Countrywide , a cesspool of radioactive assets, and Merrill L, a bankrupt company which you could have had for ZERO on that Tuesday following the Lehmann bust-up
4)agreed , I am also disappointed with the miserly dividend of 1 cent and was hoping for 5 cents. Buybacks are better for management and dividends better for shareholders.So, YES, I am disappointed with zero cash returns !
Frankfurt Germany
Bank of America (BAC) is engaged in "accounting arbitrage" says Manal Mehta, reserving far less for legal cases than it may have to pay out. If regulators forced the bank to properly account for the possible losses, it's likely they would disallow any capital returns and force BofA to continue socking away its profits. [View news story]
Bank of America (BAC) is engaged in "accounting arbitrage" says Manal Mehta, reserving far less for legal cases than it may have to pay out. If regulators forced the bank to properly account for the possible losses, it's likely they would disallow any capital returns and force BofA to continue socking away its profits. [View news story]
Who is Manal Mehta anyway ? I can hardly believe that the rigorous FED stress tests would ignore such an issue.
Frankfurt Germany
KeyCorp (KEY), State Street (STT), Goldman Sachs (GS), JPMorgan (JPM), and BB&T (BBT) make RBC's list of best-capitalized banks - those that the Fed this month should allow dividends/buybacks of 75-100% of earnings. WFC, FITB, and MTB are in the middle of the pack and should be allowed payouts of 50-75%. Capital laggards - BAC, C, and COF - may only be allowed payouts of 10-30% of earnings. [View news story]
KeyCorp (KEY), State Street (STT), Goldman Sachs (GS), JPMorgan (JPM), and BB&T (BBT) make RBC's list of best-capitalized banks - those that the Fed this month should allow dividends/buybacks of 75-100% of earnings. WFC, FITB, and MTB are in the middle of the pack and should be allowed payouts of 50-75%. Capital laggards - BAC, C, and COF - may only be allowed payouts of 10-30% of earnings. [View news story]
Frankfurt Germany
More on Bank of America (BAC) (previous): The board approves a 60% increase in CEO Moynihan's base salary to $1.5M in 2013. Between his base salary ($950K) and stock bonus, he earned nearly $12M in 2012. [View news story]
Frankfurt Germany
Total (TOT): Q4 net profit excluding changes inventories +13% to €3.08B vs consensus of €3B, EPS +3% to €1.05 and revenue +5% to €49.89B, with earnings boosted by higher refining margins and crude prices. Production -4%to 2.29M barrels of oil equivalent a day, due to a shutdown at the Elgin platform in the North Sea and flooding in Nigeria. Expects output to rise 2-3% in 2013, to sell $9B worth of assets. Proposes 2012 dividend of 2.34/share. (PR) [View news story]
This just in: The lawsuits against Bank of America (BAC -5.1%) are never going to stop. Despite the $10B+ settlement with Fannie Mae, U.S. Attorney Preet Bharara makes clear he will continue to aggressively go after BofA for selling fraudulent loans to the GSEs. Maybe this, not the downgrade, is what has the shares in a funk today. [View news story]
This just in: The lawsuits against Bank of America (BAC -5.1%) are never going to stop. Despite the $10B+ settlement with Fannie Mae, U.S. Attorney Preet Bharara makes clear he will continue to aggressively go after BofA for selling fraudulent loans to the GSEs. Maybe this, not the downgrade, is what has the shares in a funk today. [View news story]
you get sued ten iems by ten different agencies of the Govmt, state, federal or local. Has anyone ever measured the colossal waste which is being heaped on the private economy by the STATE , in the largest sense ??? The bureaucrats are just there to enhance their reelection potential with no regard at all for the the wasteful damage they are causing. It is quite obvious as they are never held accountable for being wasteful. Just look at the JPM " Londn whale situation" where the bank is being sued by 12 different US "state" agencies, committees of the Sewnate , the House etc. I would have thought ONE Regulator would be enough and adequate for dealing with this.
Frankfurt Germany ( here we have just one Regulator= BAFFIN doing the lawsuits for infractions)
Will Legal Problems Bury Bank Of America? [View article]
Frankfurt,Germany
What Can We Glean From Bank Of America's Q3 Earnings? [View article]
Frankfurt, Germany