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Wall Street Closes Higher, General Electric (NYSE: GE) Rallies

Fri, 06 Nov 2009 23:14:45 GMT

US stocks finished higher on Friday as investors shrugged off disappointing government data showing the unemployment rate hit 10.2 percent in October - the highest in 26-1/2 years.[More...]

Fannie Mae Reports Massive Q3 Loss, Asks For Another $15 Billion From Government As It Is Set To Become Largest US Renter

Thu, 05 Nov 2009 22:14:27 GMT

The latest particular does of lunacy and economic calamity coming out of the intellectual midgets at Fannie and the FHA should be sufficient to push the market well into 1,100 territory tomorrow. FNM's loss for Q3 is $18.9 billion, up from $14.8 billion in Q2, a time when the market was up a good 15%: ever wonder who keeps on subsidizing those gain? That's right - you. Credit-related expenses increased to $22 billion in Q3 from $18.8 billion in Q2. Oh, and Fannie now wants another $15 billion rescue from the Treasury (which is having some troubles with getting that pesky debt ceiling raised to one googol) so it can continue with its plan of keeping shadow inventory away from the market, rent foreclosed houses to their owners at staggeringly low rates, and continue the pretence that bank's balance sheets are well capitalized. Seriously, is the twilight zone any more palatable if one just drinks the Kool Aid or takes some crazy pill?[More...]

The Scariest Thing On Wall Street - FNM

Tue, 03 Nov 2009 17:02:14 GMT

By Jeff Clark While ghouls, ghosts, and goblins were gearing up to haunt neighborhoods across America, something else was spooking Wall Street last Friday. It was the threat of a rising dollar and the potential end of the dollar "carry trade."[More...]

Fannie + Goldman + US Treasury + Tax Credits = Complex Mess

Mon, 02 Nov 2009 16:22:57 GMT

In a prior job, I spent a decent amount of time on Affordable Housing tax credits. The idea was to reduce my life insurance company client’s taxable income to the point where they would be close to but not subject to the corporate alternative minimum tax. Occasionally my work would take me on trips to industry conferences on Affordable Housing. When I would go to these meetings, there would be a panoply of players there — Banks, Insurers, Utilities, perhaps a health insurer or two, and a few other odd tax-focused companies would attend.[More...]

U.S. Economic Growth Surprises In The Third Quarter

Fri, 30 Oct 2009 00:20:54 GMT

The Obama administration’s $787 billion stimulus package has yielded results as the U.S. economy grew for the first time since the second quarter of 2008.[More...]

GDP Notes - In Depth

Thu, 29 Oct 2009 17:08:06 GMT

Senior strategist Dirk van Dijk, CFA has issued notes on this morning's GDP numbers. These notes will be published in two separate blogs -- Growth Rates and Contributions to Growth. The recession is over![More...]

Is Citi Preparing To Underwrite The Upcoming Bank Of America TARP-Repayment $45 Billion Equity Offering?

Mon, 26 Oct 2009 19:36:00 GMT

Remember Citi? The bank that once did stuff like investment banking and research, sales and trading, and some other things, and was a little more than just a zombifying and rapidly decaying ward of the state? Neither do we. For a vivid example of how things have changed, Citi today's added BAC stock to its "top picks live" list... and nobody gave a rat's ass. In fact the action in financial stocks was driven more by Dick Bove's earlier downgrade of some regional banks, dragging down such "opportunity" firms as Bank of America with them. Yet Citi knows a thing or two about a thing or two, specifically that BofA, once it is done with all the assorted litigation facing its soon to be ex-CEO, and any potential legal dangers over that other orange guy they got for a steal when they acquired Countrywide, will[More...]

Used Home Sales Soar

Fri, 23 Oct 2009 18:52:12 GMT

Spurred on by a last minute rush to get in on the "first-time home buyer" tax credit, sales of existing homes jumped by 9.4% in September to a seasonally adjusted annual rate of 5.57 million, up from 5.10 million in both August and September of a year ago.[More...]

Haven't We Learned Anything From The Meltdown?

Thu, 22 Oct 2009 21:46:39 GMT

From the article "Yes, The CRA Is Toxic: So Why is Congress Thinking About Expanding It?" by Edward Pinto, who was the chief credit officer at Fannie Mae in the 1980s.[More...]

Real Estate Investment Trusts (REIT)

Thu, 22 Oct 2009 17:26:03 GMT

Amid positive signals emanating from the uptick in housing prices and an improving outlook for consumer spending, the housing sector is gradually stabilizing. Both new and existing home sales have increased during the last four consecutive months and are now 32% and 17% above their recent lows, respectively. Single-family housing starts have also risen 37% from their low point, and inventories of homes-for-sale have fallen sharply.[More...]

St. Louis Post-Dispatch, David Nicklaus column: The federal bailout of banks may not be as costly as feared

Fri, 06 Nov 2009 23:47:00 GMT

And the big banks -- the focus of the public's ire during the congressional debate -- may not cost the Treasury much, if any, money when the program is finally wound down.
Wells Fargo appears poised to do the same.
Citigroup isn't yet in a position to repay the TARP money, and the Treasury couldn't sell its shares quickly without depressing the price.

: iStockAnalyst.com Symbols Feed

Wall Street Closes Higher, General Electric (NYSE: GE) Rallies

Fannie Mae Reports Massive Q3 Loss, Asks For Another $15 Billion From Government As It Is Set To Become Largest US Renter

The Scariest Thing On Wall Street - FNM

Fannie + Goldman + US Treasury + Tax Credits = Complex Mess

U.S. Economic Growth Surprises In The Third Quarter

GDP Notes - In Depth

Is Citi Preparing To Underwrite The Upcoming Bank Of America TARP-Repayment $45 Billion Equity Offering?

Used Home Sales Soar

Haven't We Learned Anything From The Meltdown?

Real Estate Investment Trusts (REIT)

St. Louis Post-Dispatch, David Nicklaus column: The federal bailout of banks may not be as costly as feared

Fed wary of raising key interest rate -- Bernanke, colleagues believe U.S. economy still needs federal help despite recent action

Business Highlights

Fed leaves rates near zero, signals they'll stay there

Fed again pledges to hold rates at record-lows

Stocks add to gains as Fed holds rates low

A look at the past 3 Fed statements on economy

Fed again pledges to hold rates at record-lows

Fed likely to keep key interest rate at record low

Fed likely to keep key interest rate at record low

SBT Bancorp, Inc. Reports Third Quarter 2009 Results

Central Bancorp, Inc. Reports Financial Results for the Three and Six Months Ended September 30, 2009

PMA Capital Reports Improved Third Quarter 2009 Results

B of I Reports First Quarter Net Income of $3.7 Million; Best Quarterly Earnings and Net Interest Margin

Senior Housing Properties Trust Announces Results for the Periods Ended September 30, 2009

ESSA Bancorp, Inc. Announces Fourth Quarter and Full Year Operating Results for 2009

Glen Burnie Bancorp Releases 3Q Earnings

FHLBank Cincinnati Announces Third Quarter 2009 Results

Summit Financial Group Reports Q3 2009 Results

Provident Financial Holdings Reports First Quarter Results

Form 3 Edwards Terence W For: Sep 14 (10K)

Form 4 Harvey Frederick Barton For: Aug 27 (10K)

Form 4 FEDERAL NATIONAL MORTGAG For: Aug 12 Filed by: WILLIAMS MICHAEL J (10K)

Form 4 Senhauser William B For: Aug 12 (10K)

Form 4 Hisey David C For: Aug 12 (10K)

Form 4 Lund Thomas A For: Jun 30 (10K)

Form 4 FEDERAL NATIONAL MORTGAG For: May 21 Filed by: BACON KENNETH J (10K)

Form 4 Benson David C For: May 11 (10K)

Form 3 Phelan Kenneth For: Apr 21 (10K)

Form 3 Watson Edward G For: Apr 21 (10K)