Thoughts & Comments And Quick Takes

The Credit Recovery at Taylor Capital Continues

Mon, 30 Aug 2010 12:00:00

A return to profitability likely this year. After that, meaningful long-term earnings growth

Why Is OneUnited Bank Still With Us?

Wed, 11 Aug 2010 12:00:00

By the look of its balance sheet, Maxine Waters' favorite lender should have been put down by regulators long ago

Higher Required Capital Won't Crimp Bank Lending?

Thu, 05 Aug 2010 12:00:00

That's what a handful of studies want you to believe. Don't buy it.

The More We Read About Dodd-Frank, The Less We Like It

Mon, 26 Jul 2010 12:00:00

And we didn't like it much to begin with. Have you heard about "qualified martgages"?

A Bankstocks.com Classic: How To Reform The Financial System

Thu, 22 Jul 2010 12:00:00

Our nine-point proposal

The Dodd-Frank Bill: What People Are Saying

Tue, 20 Jul 2010 12:00:00

And why most of them are wrong, wrong, wrong

What's Wrong With The Financial Reform Bill?

Mon, 28 Jun 2010 12:00:00

Everything. The Wall Street Journal counts the ways

Don’t Agree With My Negative Take On The Dodd-Frank Bill?

Mon, 28 Jun 2010 12:00:00

Well then, at least hear what Dick Bove has to say

The FDIC Devises A Revolutionary New Consumer Finance Product!

Fri, 25 Jun 2010 12:00:00

There’s just one little problem. . . .

This Just In From Meredith-Land

Tue, 22 Jun 2010 12:00:00

On CNBC, a glimpse of an alternate reality

The Stock Could Nearly Double!--But We're Neutral

Mon, 21 Jun 2010 12:00:00

More fuzzy investment logic from the sell-side

Rip Van Whitney

Fri, 18 Jun 2010 12:00:00

Our girl Meredith, bearish as ever, seems to have snoozed through the past twelve months

Retroactive Nonsense

Wed, 16 Jun 2010 12:00:00

Congress is set to push back the effective date of its increase in the FDIC's insurance limit. That's a terrible idea.

The Bank Blitz Memo: Honestly Speaking

Tue, 08 Jun 2010 12:00:00

Better customer relationships are a matter of trust.

The Worst Thing Of All About The Financial Reform Bill

Fri, 04 Jun 2010 12:00:00

It's not the CFPA, it's not the Volcker Rule, its not . . .

Still Bullish On Synovus

Fri, 04 Jun 2010 12:00:00

The company's recent offering severely limits risk, but also some potential upside. Why we're still positive.

Al Franken's Amendment Won't Fix What's The Matter With The Rating Agencies

Tue, 01 Jun 2010 12:00:00

Instead, it's shaping up to be a non-solution to what's turned into a non-problem

Nouriel Roubini: Still Wrong

Mon, 24 May 2010 12:00:00

From macroeconomic visionary to reflexive crank

A Bad-News Bailout

Fri, 21 May 2010 12:00:00

The deal to save ShoreBank is Chicago-style politics-as-usual

Same Old Wells Fargo

Wed, 19 May 2010 12:00:00

At its first analyst day in 12 years, the company shows its winning culture is intact

If The Government Can't Even Accurately Estimate The Cost Of Failed Banks . . . .

Wed, 12 May 2010 12:00:00

. . . how much faith should be have in its long-term projected price tags of the really big-ticket programs?

A Republican Takeover Of The House This Fall?

Wed, 05 May 2010 12:00:00

Not just a possibility--it's a probability

The Bank Blitz Memo: Do Your Bidding

Tue, 04 May 2010 12:00:00

What value would customers place on their experiences with you?

"Consumer Protection" In Financial Services? Good Luck With That

Wed, 28 Apr 2010 12:00:00

The FDIC is already trying. It's not pretty.

A Bankstocks.com Classic: Why The Proposed Consumer Protection Agency Is A Terrible Idea

Mon, 26 Apr 2010 12:00:00

It will raise the cost of consumer credit and make it more scarce, and weaken the financial system, as well

BOY OH BOY IS BILL MILLER EVER BULLISH

Fri, 03 Sep 2010 12:00:00

Bill Miller, writing in the FT: Long-term Treasuries . . . have beaten equities as measured by the S&P 500 in the year to date, and in the 3-, 5-, 10-, 15-, and 20-year time frames. It’s a tie at 25 years. More than 20 years of superior returns over stocks in an asset

BLOGGER: BANKS OPPOSE HONEST FINANCIAL REPORTING. REALLY?

Thu, 02 Sep 2010 12:00:00

Michael Shedlock writes: Virtually all the banks are against honest reporting. Wells Fargo is leading the pack because of all the nonperforming Pay Option ARM and

BERKOWITZ: BANKS' BALANCE SHEETS 'STRONGER THAN EVER'

Thu, 02 Sep 2010 12:00:00

Bruce Berkowitz, discussing his outlook for the financials, makes a lot of sense: And, for the last couple of years, companies have gone through tremendous stress, the financials. But today, their balance sheets are stronger than ever, their earnings power, their pre-tax, pre-provisioning power is stronger than

ANALYST: OBAMA SCAPEGOATING OF FINANCIALS MAY NOT HAVE BEEN SMARTEST MOVE IN THE WORLD

Wed, 25 Aug 2010 12:00:00

Jason Schwarz is not happy with how President Obama has treated the banks: Obama thought that he didn’t need the bankers, he thought that the cyclical recovery would be strong enough to overcome all

ANGELO MOZILO, PUNCTILIOUS UNDERWRITER

Wed, 25 Aug 2010 12:00:00

Gretchen Morgenson is going to love this. Mozilo approved so many loans that fell outside company guidelines that at least one high-ranking Countrywide executive questioned them, drawing heated responses from Mozilo, according to testimony filed in a Securities and Exchange

RISING FAILURES A SIGN THAT WORST NOT OVER FOR BANKS? PLEASE.

Tue, 24 Aug 2010 12:00:00

Tony Abbate writes that “for banks, the worst is probably yet to come” because 1) bank failures are still rising, and 2) ARM resets are set to increase next year. Am not convinced. . . . First, bank failures are a lagging indicator of industry health. (By definition, they’re the laggingest lagging indicator, right? What comes after?) As for ARM resets,

VOLATILITY? NO, WE CAN'T HAVE ANY OF THAT

Tue, 24 Aug 2010 12:00:00

SunTrust buys back $750 million of its debt. From TheStreet.com: "There are two primary benefits for SunTrust - reducing our funding cost and reducing future income statement volatility," a

LET'S JUST SAY MILBURN DRYSDALE PROBABLY WASN'T HIS ROLE MODEL

Thu, 12 Aug 2010 12:00:00

The more one learns about Kevin Cohee, CEO of OneUnited Bank, the more wonders how in blazes he’s been given the keys to an FDIC-insured depository:

WELLS PARTS AT LAST WITH ONE OF ITS SWANKIEST OREO

Wed, 11 Aug 2010 12:00:00

Remember Cheronda Guyton? She’s the former Wells Fargo executive who got herself fired last year for hosting parties at a lavish Malibu

ROSS: STICKING IT TO LOCAL CONSUMERS IS A BRILLIANT INDUSTRIAL STRATEGY

Wed, 11 Aug 2010 12:00:00

Wilbur Ross talks to Charlie Rose about the outlook for manufacturing in the U.S. What I'm worried about is R&D. You have to have new technologies. We think of China as a polluter. Let me tell you, China is

WHOOPS! FORTUNE'S BENNER MAKES CASE AGAINST ELIZABETH WARREN WITHOUT MEANING TO

Tue, 03 Aug 2010 12:00:00

Fortune’s Katie Benner makes the least convincing case yet for Elizabeth Warren to head the CFPB: Someone like Warren is a shock to that system. She unabashedly sides with consumers. She hates fine print and contracts with "gotcha" clauses. She wants to eliminate predatory loans. And she thinks that it's okay for bank profits

POST-DEAL, MOODY'S TAKES ITS OWN SWEET TIME CONFIRMING SYNOVUS' RATING

Tue, 03 Aug 2010 12:00:00

Will the rating agencies ever miss an opportunity to demonstrate how clueless they are? Doubtful! From Reuters, yesterday: Moody's confirms Synovus

NEWS FLASH! GOLDMAN CEO NOT UNIVERSALLY VILIFIED

Mon, 02 Aug 2010 12:00:00

Ninety-seven percent of Goldman employees approve of the job Lloyd Blankfein is doing. All things considered, I can’t say as I blame them. . . .

TOO WELL-CONNECTED TO FAIL

Mon, 02 Aug 2010 12:00:00

ShoreBank, the bank that will not die: ShoreBank’s capital deficiency worsened in the second quarter, according to newly submitted financial results to regulators

THIS JUST IN FROM DEPT. OF INEVITABILITY

Fri, 30 Jul 2010 12:00:00

You don’t say: the Fed’s making money on its Maiden Lane portfolios. . . .

PAULSON ON THE GSE'S: MEND 'EM, DON'T END 'EM

Fri, 30 Jul 2010 12:00:00

Most noteworthy paragraph in Hank Paulson's op-ed, in today’s Washington Post, on what should be done with the GSEs: The GSEs are providing

HOW DO YOU MAKE THE FEDERAL GOVERNMENT'S MOST INCOMPETENT REGULATOR EVEN BETTER?

Thu, 29 Jul 2010 12:00:00

Dodd-Frank surprise of the day: The S.E.C. is given some exemptions from Freedom of Information Act requests. . . .

BUT WE TRIED THIS ONCE. IT DIDN'T WORK.

Thu, 29 Jul 2010 12:00:00

In Phoenix, Freddie Mac moves to clear some inventory: FREDDIE MAC TO AUCTION OFF FORECLOSED PHOENIX HOUSES Prospective buyers trying to purchase Phoenix foreclosed homes to live in will have first dibs on 135 houses that mortgage giant Freddie Mac

ALSO, GOLF EQUIPMENT MANUFACTURERS. HE LOVES GOLF EQUIPMENT MANUFACTURERS

Wed, 28 Jul 2010 12:00:00

Corporate executives don’t trust President Obama. Fareed Zakaria counts the ways why: Most of the business leaders I spoke to had voted for Barack Obama. They still admire him. Those who had met him thought he was

THIS IS ONE OF TIMES WHEN VIKRAM PANDIT WOULD RATHER BE LUCKY THAN GOOD

Wed, 28 Jul 2010 12:00:00

Who knew? It turns out Citi timed its Phibro sale pretty darn well: [D]id Citi sell Phibro, its famed, profit-making commodity’s trading unit, in the nick of time? Consider today’s release of second

THE MORE HE TALKS, THE FARTHER DOWN HE SINKS

Mon, 26 Jul 2010 12:00:00

In Gallup’s survey of Americans’ confidence in the country’s major institutions, out last week, which institution fell by the most? The presidency. In 2009, 51% of Americans said they had a great deal or quite a lot of confidence in it. Now just 36% do—down 15 points. That is by far the biggest decline of any of the 16 institutions included in the survey. (Next biggest decline:

IT TURNS OUT ELIZABETH WARREN'S BAD FAITH EXTENDED TO THE HEALTH CARE DEBATE, TOO

Thu, 22 Jul 2010 12:00:00

One more reason to expect that, should she be appointed head of the CFPB, Elizabeth Warren would be less a disinterested regulator than she would be a nakedly partisan hack: she’s been known to obfuscate the data in studies she conducts, in order to arrive at a pre-determined, politically correct conclusion. That’s what happened last year, at any rate, when,

AND WHO WANTS TO SPEND A DAY IN D.C. IN JULY IN THE FIRST PLACE?

Wed, 21 Jul 2010 12:00:00

Oh, that classy White House. An unnamed Wall Street executive tells CNBC how the Obama administration must have decided to dole out the invites to today’s bill signing.

REMINDER: REGULATORS PUT THEIR PANTS ON ONE LEG AT A TIME JUST LIKE THE REST OF US

Wed, 21 Jul 2010 12:00:00

Edward Glaeser makes the perfectly obvious, and often forgotten point that regulators are mere mortals, too, and so can be just as non-rational as the consumers they are supposed to protect.

REPORT: THE SELL-SIDE IS AS BAD AT PREDICTING EARNINGS AS EVERYBODY SUSPECTED

Wed, 21 Jul 2010 12:00:00

Duh! Sell-side analysts are chronically over-optimistic: Research published by McKinsey & Company this morning lays out in black and white what many have long suspected – that equity