SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Banks--- Betting on the recovery
WFC 85.05+0.4%Nov 14 9:30 AM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Road Walker who wrote (401)4/21/2009 1:44:49 PM
From: tejek  Read Replies (1) of 1428
 
U.S. banks will likely return to "negative earnings" after posting first-quarter profits, Meredith Whitney, of the Meredith Whitney Advisory Group said in an interview with Bloomberg Television Monday.
Whitney said conditions at Bank of America Corp. (BAC) that boosted first-quarter earnings, including widening credit spreads and gains in agency paper sales, aren't "replicable." "The underlying credit is deteriorating at an accelerated pace," she said.
The window to raise equity capital has closed and banks will begin selling non-core assets, Whitney said. "You will see what I describe as a yard sale."

I don't think its as bad as Whitney is saying but like I said in my last post, I don't think things are as good as many believe. In the end, I think housing will save the banks. Kind of ironic, don't you think?
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News