Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Tuesday January 6.Bullish Calls: Wells Fargo (WFC): "This one has acted like a bow wow, but I've been buying it. They've got a huge mortgage portfolio and I'm banking with Wells Fargo."American Ecology (ECOL): "I would buy some here and I'd buy more if it comes down. This is a great hazard...
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(Reuters) - U.S. banks will have to raise fresh capital in 2009, and a sharp increase in credit-rating downgrades on mortgage-related securities will lead to further stresses on the companies' capital, according to prominent banking analyst Meredith Whitney.
Filed under: Bad news, Housing, RecessionIt looks like the nation's last hold-out -- the last bastion of the housing bubble, if you will -- has finally started to burst. Or at least deflate. Manhattan, which remains, despite the nation's decade of policy errors, the capital of the world, registered its fourth straight quarterly decline in apartment sales in Q4 2008, according to research compil...
Bank of America's chief executive, Kenneth D. Lewis, is joining the growing ranks of top banking executives who are giving up their annual bonuses after a dreadful year in the financial industry. Mr. Lewis told Bank of America employees in an e-mail on Tuesday that he had recommended to the company's board that he and other [...]
Kerry E. Grace reports: Although government support has buoyed U.S. banks, the industry will likely experience overall credit quality deterioration at least through this year, according to a report published Tuesday by Standard & Poor’s Ratings Services. S&P credit analyst Barbara Duberstein said the number of bank failures will likely rise in 2009 “from an already high nu...
After receiving hundreds of billions of dollars in taxpayer-funded federal bailout money, the biggest U.S. banks say they can’t track how that money is being spent. Some of the banks are outright refusing to discuss the matter, a new study has found. "We have not disclosed that to the public. We’re declining to," Thomas Kelly, a spokesman for JP Morgan Chase & Co. (JPM...
Senate Banking Committee Market activity was improved somewhat today, the Bulls thought so at least. Major U.S. indices moved into positive territory from the opening bell and held green throughout the trading session. Senate Banking Committee seeks SEC Records for Madoff probe as the House Financial Services Committee conducted its first hearing Monday into the failures of the Securities and E...
NEW YORK (MarketWatch) - Before its acquisition by Bank of America Corp., Merrill Lynch had its hand in a wide range of businesses including asset management, investment banking and, of course, mortgage securities.
Consumer Banking: Despite the bad news, bank customers will find some deals in 2009
Mon, Jan 5, 6:50 PM ET
Despite some dire financial predictions for 2009, good news is in store for savvy consumers -- if you have good credit and are proactive at looking for banks’ deals and perks.
Has the financial news media's love affair with JPMorgan Chase's chief executive, Jamie Dimon, come to an end? Charles Gasparino, CNBC's on-air editor, wrote on The Daily Beast on Monday that Mr. Dimon's polished image as the new "King of Wall Street" may start to tarnish quickly as his banking company gets set to report [...]