From CFO.com comes this optimistic report. A highlight of how everything will be better this year: The auditors of nearly one-quarter of publicly traded companies feel that the companies may not live out the year. No, let me repeat that: 25% of publicly traded companies may fail before the end of this year. One out of every four. [...]
Entries from April 24th, 2009
Kennay Gets The Finger. Again.
April 24th, 2009 · No Comments · all ur bankz
Number of friends Ken Lewis has won by blaming Ben Bernanke and Hank Paulson for dropping the cone of silence over the Bank of America/Merrill Lynch deal: approximately zero. On the contrary, he’s actually given a ton of cannon fodder to one of his most vocal opponents. Jonathan Finger, who not only has already sued [...]
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Still Not Getting It
April 23rd, 2009 · 6 Comments · bandit, fail
So earlier in the week when Citi announced to everyone’s utter shock that the company had actually shown a profit for Q1, some expressed a polite skepticism that this was in any way reflective of the company’s performance. Then yesterday when Morgan Stanley announced a quarterly loss, well, that just sounds like shenanigans and tomfoolery! [...]
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Ken Lewis: Benny Made Me Do It
April 23rd, 2009 · 2 Comments · all ur bankz, bernanke, hank paulson
Ken Lewis, when asked by NY’s attorney general Andrew Cuomo why he didn’t disclose many important details about Bank of America’s faildeal to buy Merrill to shareholders until the damage had been done, places the blame firmly on Bernanke and Paulson: Federal Reserve Chairman Ben Bernanke and then-Treasury Department chief Henry Paulson pressured Bank of [...]
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Shadow Banking, Now With 100% More Ninjas
April 22nd, 2009 · 4 Comments · bailout
Shadow banking from Marketplace on Vimeo. I have run a couple of videos from Marketplace’s whiteboard series before, because they’re pretty solid, even if they do generally paint government action in much rosier terms than we usually do around here. The most recent installment is on ‘shadow banking’ and the TALF, not that anyone is [...]
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