Stocks have reversed and given up earlier gains as the bond market has drooped, yields have moved higher, which has resulted in a surge in the dollar. Read More
A blowout third quarter report for PNC Financial, as the regional bank managed to avoid the same fate that brought down earnings at Fifth Third Bancorp and SunTrust Banks. PNC avoided big bets on construction loans and posted a profit of $559 billion or $1 a share. Revenues, meanwhile surged 145% to $4 billion. Read More
More banks have failed in 2009 than the rest of the decade combined. The latest data from the Federal Deposit Insurance Corporation (FDIC) shows that the 100th bank of the year has shuttered its windows today. Read More
One year ago, at the epicenter of the credit crisis, Lehman Brothers went dark, marking the biggest bankruptcy in U.S. history. The bankruptcy sparked a financial crisis that questioned the viability of the entire U.S. financial system driving many investors to short the financial sector at heightened levels. Read More
The quarterly reports for the big banks were terrible across the board, but stocks are up because the psychology and the method of valuing bank stocks have changed, said Richard Bove, financial strategist at Rochdale Securities. Read More
Banks are desperate to get out from under the onerous restrictions imposed by the government. And they’re willing to move mountains to do it! Read More