During 2011, some of the smartest investment pros in the world bet heavily on Bank of America and lost big as the stock price collapsed. Concerns over the looming collapse of the European banking system sent U.S bank stocks into a tailspin as panicked investors sold. From a price of $15 in January 2011 the […]
Bank Of America, Hated By Many, Could Make Some People Rich In 2012
March 2, 2012 By Leave a Comment
Bank of America’s Stock Is A “Great Value” and Housing Will Come Back
February 27, 2012 By 2 Comments
It is always wise to pay attention to one of the greatest investment minds of all time. In the most recent letter to shareholders of Berkshire Hathaway, legendary investor Warren Buffet makes the case for a recovery of both the housing market and shares of Bank of America. Warren Buffet has shown time and again […]
Why Bank Stocks Are Impossible To Analyze or Value
February 13, 2012 By Leave a Comment
During 2012, investor fears about the financial condition of banks resulted in the biggest decline in bank stocks since the financial crash of 2008. A weakening economy and fears about massive exposure to insolvent European financial institutions sent bank investors running to the exits. The brutal sell off in banking stocks during 2012 can be […]
Banking News – Daily Banking Update
January 2, 2012 By Leave a Comment
Welcome to Banking Update, a roundup of articles and news from around the Internet. Exactly how do you keep your money safe, will Bank of America fail in 2012, a potential housing bottom, Fannie and Freddie executives line their pockets, foreclosures take a short break for the holidays and why this great recession just won’t […]
Banking News – Daily Banking Update
December 28, 2011 By 3 Comments
Welcome to Banking Update, a roundup of articles and news from around the Internet. The government keeps trying new foreclosure programs despite the failure of previous ones, homeowners past due by more than 60 days are unlikely to recover, home prices continue to drop, mortgage fraud continues and almost half of all home purchases are […]
Banking Update – Daily Banking News
December 20, 2011 By Leave a Comment
Welcome to Banking Update, a roundup of articles and news from around the Internet. Let’s go right to the links. Business at pawn shops is booming. Bargains for buyers and easy credit for borrowers has resulted in pawn shops taking over the role of traditional banks and retailers for many consumers. The average loan amount […]
Increase In Third Quarter Banking Profits Largely Due To Phony Accounting Gimmicks
November 23, 2011 By Leave a Comment
The FDIC’s Quarterly Banking Profile for the third quarter of 2011 shows banking industry profits increasing by 48% from the third quarter of 2010. Aggregate net income of the banking industry for the third quarter of 2011 totaled $35.3 billion compared to $23.8 billion in the third quarter of 2010. Although traditional news organization headlines proclaimed “Strong Profit Growth […]
Too Big To Fail Casino Banks Make $518 Billion Bet On PIIGS Sovereign Debt
November 7, 2011 By 4 Comments
The “Too Big To Fail Banks” are at it again, making huge speculative bets on the odds of sovereign default by Portugal, Italy, Ireland, Greece and Spain. The costly lessons of the derivatives debacle of 2008 have apparently been forgotten. In 2008, the Too Big To Fail banks bought massive amounts of credit default swaps […]
Bank Of America Derivatives Timebomb Shows System Is Corrupt To The Core
November 3, 2011 By 12 Comments
The Federal Reserve recently allowed Bank of America to move its massive derivative positions from the bank holding company to its banking subsidiary which is an FDIC insured depository institution. By allowing this transfer, the Federal Reserve has allowed Bank of America to shift the risk of loss on speculative derivative contracts from the non-bank […]
FDIC To Cover Losses On $75 Trillion Bank of America Derivative Bets
October 20, 2011 By 28 Comments
Potential losses on Bank of America’s massive $75 trillion book of risky derivative contracts has just been dumped onto the FDIC by the Federal Reserve. Derivatives, once described by Warren Buffet as “financial weapons of mass destruction” are complex contracts entered into for speculation or to hedge risks linked to a wide variety of other […]