Thursday Headlines: Morgan Stanley tops estimates
CNBC.com: Morgan Stanley tops revenue estimates on stronger-than-expected trading New York Post: Wells Fargo fires over 100 staffers for COVID-19 relief abuse New York Times: Bank…
The Fed’s Planned Inflation Policy Makes No Sense
Does Fed Vice Chair Richard Clarida not understand that the primary job of a central bank is to safeguard the currency? He doesn’t seem to. Here’s…
Wednesday Headlines: Goldman tops estimates, BofA misses
Bloomberg: BofA Traders Fall Short of Rivals as Revenue Misses Estimates CNBC.com: Goldman earnings top estimates on stronger-than-expected bond trading New York Post: SoftBank’s Vision Fund…
Monday Headlines: JPMorgan, Citi top estimates as banks’ earnings season gets underway
Bloomberg: JPMorgan Posts Surprise Jump in Profit on Lower Credit Costs CNBC.com: Citigroup earnings top the Street as credit costs from the pandemic stabilize Reuters: Goldman…
How Banking is Like Sports Betting
A comment last month by DraftKings CEO Jason Robins about the importance of his company’s physical retail locations echoes how bank executives tend to feel about…
Friday Headlines: Via deals, Morgan Stanley pivots away from Wall Street
CNBC.com: With $20 billion in deals this year, Morgan Stanley pivots further away from risky Wall Street Bloomberg: Ackman Gives Further Clues on Potential Targets for…
A loan sale is a loan sale. There’s no halfway.
I hope my interpretation is incorrect, but I believe the banking industry sought permission from the SEC to treat loans originated under the Main Street program…
Thursday Headlines: Morgan Stanley to buy Eaton Vance for $7 billion
Wall Street Journal: Wells Fargo CEO Finds Himself on Defense After a Tough First Year Financial Times: Morgan Stanley to buy Eaton Vance in $7bn deal…
Wednesday Headlines: GE accounting practices under SEC scrutiny
Reuters: SEC tells GE it is considering a civil action tied to accounting probe CNBC.com: Powell calls for more help from Congress, says there’s a low…
Yes, Banks Are Indeed Investable
“I want to own a growth company, not a bank. Banks are not investable.” I have been hearing comments like that all year, with the number…