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Moody’s: Some US Banks Still May Be Undercapitalized

Maybe Warren Buffett slapped Moody's management, since he owns a slug of it, to get them to actually start rating securities based on risk, not how much these firms could extort in fees to maintain a fake high credit rating? At this late point, Moody's must do an awful lot to restore credibility.

[ED: Comment edited to remove abuse.]
Jun 09 06:59 am |Rating: 0 0 |Link to Comment |View article
Credit Cards: The Next Subprime?

V and MA do not take credit risk; they simply process transactions. They collect toll charges. Most banks have cut back their teaser transfer competition. Most banks now financially underwrite loans for everything. Imagine that. AXP is a buy at these levels. Maybe MBIA and AMBAC will insure credit card defaults since they got into every other dumb business other than muni bonds.
Jun 05 09:02 am |Rating: 0 0 |Link to Comment |View article
Doug Kass's Killer Shorts - Barron's

Why is Kass not shorting WM, WB, and MBIA? He picked the wrong financials in going after AMEX and WFC.
May 19 13:41 pm |Rating: 0 0 |Link to Comment |View article
How Cheap Are U.S. Bank Stocks?

Big banks are toast; earnings compression will keep prices down, and valuations will be lower too for financial assets. Lots of consolidation and mergers in next 24 months.
Apr 19 19:52 pm |Rating: 0 0 |Link to Comment |View article
Financials and Retail: Not as Dire as They Seem

This credit binge and deleveraging just goes to show that CEOs and other senior management at these institutions are grossly overpaid, never had an original idea, and rationalize the meltdown of their own stock as "everyone else was doing it, therefore, it must have been ok!" But then, when fired, the gutless Board's give them hundreds of millions for long and loyal service! Go figure! Who doI send my resume to at C, MER, WM, etc.....Commerical real estate is next! Goodbye regional bank CEOs.
Mar 08 08:45 am |Rating: 0 0 |Link to Comment |View article
Time to Buy Financials? 4 Potential Picks

LEH is a crap shoot; how much sub prime crap do they have on the books? The others seem ok, however, HNL is probably cutting its dividend. Why not WM and CFC? They have the most to gain if the sector is turning.
Jan 07 00:46 am |Rating: 0 0 |Link to Comment |View article

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Wall Street Breakfast - Sample Wall Street Breakfast: Must-Know News by SA Editor Rachael Granby Bank trio becomes duo. Wells Fargo (WFC) will become the largest U.S. bank by branches with its bid for Wachovia (WB), after Citigroup (C) withdrew from compromise negotiations late yesterday on concerns about the quality of some of Wachovia's assets. Wells Fargo, with a bid valued at $11.4B, expects the purchase to be completed by the end of the year, and denies it will have to absorb assets shakier than originally thought. Government considers next steps. As the financial crisis continues to worsen, the U.S. government is considering two dramatic steps to turn around, or at least slow, the damage: guaranteeing billions of dollars in bank debt and temporarily insuring all U.S. bank deposits. The moves, which would mark the government's most extensive intervention to date, are in discussion stages only. Credit stays frozen. As frozen credit markets refuse to thaw, the cost of default protection on corporate bonds reaches new global records amid investor concerns the credit crisis will trigger corporate failures as companies struggle to finance their businesses. Interbank lending remains limited, and borrowing from the Fed's expanded discount window continued its trend of setting new highs every week, as the total daily average rose to $420.2B vs. $367.8B last week. Oil demand withers. The International Energy Agency warned Friday worldwide oil demand... Email continues...
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Jim Cramer's Picks -
Sample

Better Choices - Cramer's Lightning Round (10/15/08)

by SA Editor Rachael Granby

Stocks discussed in the lightning round session of Jim Cramers Mad Money TV program,
Wednesday, October 15.

Bullish Calls:

Continental Resources (CLR) -- "This is a remarkable decline. All of the high quality ones are down so much, I can't go against it. This is where you pull the trigger.
3M (MMM) -- The moment this stock starts yielding 5%, I'm a buyer. Until then, keep your powder dry.

Bearish Calls:

Computer Sciences (CSC) -- This is a company that was going to be bought, but they passed up the chance. Now I don't want to buy it."
Annaly Mortgage (NLY) -- I think this is a business model that needs to borrow money. Definitively do not buy."
Northrop Grumman (NOC) -- You can't own the defense stocks right now. If I had to own one, I'd look at Lockheed Martin (LMT) with its good dividend.
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