I got this little nugget from Big Brother The Office of Public Affairs in my inbox just now… U.S. Treasury Department Office of Public Affairs FOR IMMEDIATE RELEASE: December 23, 2009 CONTACT: Treasury Public Affairs (202) 622-2960 TREASURY RECEIVES $45 BILLION IN REPAYMENTS FROM WELLS FARGO AND CITIGROUP TARP Repayments Now Total $164 Billion WASHINGTON…
Wells Fargo
Hot Links: The Droids We're Looking For
Stuff I’m Reading this Morning… Bubble Up! G-20 stimulus doing it’s thang…everything up overnight. (Bloomberg) NBC and Comcast sittin’ in a tree, K.I.S.S.I.N.G. (NYT) Rupert Murdoch versus The Internet. Good luck, guy. (BoingBoing) Wells Fargo: Escape from the TARP. (DealBook) Germany celebrates a Wall-less 20 years. (WSJ) Wilbur Ross on the next disaster: Commercial RE. …
The Incredible Shrinking Finance Sector
This is very cool. The New York Times put up a moving infographic that shows the progression of the 29 largest financial firms and how they first shrank since 2007 and then began to grow again. The graph above shows them from the starting point at the market’s peak in October 2007. The one below…
10 Uses For Foreclosed Houses
As has been widely reported last week, a VP at Wells Fargo was just fired for hanging out at a $12 million Malibu mansion the bank had foreclosed on. My reaction was something along the lines of “Hey, what the hell?” With around 3 million foreclosed homes in the US, we should all be brainstorming…
Hot Links: Godspeed Patrick Swayze
Stuff I’m Reading this Morning… A roundup of various currency ETFs and how they’ve done as the dollar dropped (and dropped). (Bespoke) Sorkin: Obama‘s big reform speech fell on deaf ears on Wall Street yesterday. (DealBook) Fast-Forwarding Gordon Gekko. (NYT) They fired the Wells Fargo foreclosed mansion squatter. I kinda liked the gal. (Dealbreaker) A…
5 Midget Banks I'm Watching
With the breathtaking run-up in larger banks like Wells Fargo and Bank of America, many traders are now looking at the smaller, lower quality names in the banking sector for back-from-the-dead survival plays. Above is a quick comparison I’ve put together of some of the second/ third tier banks, the ones with more regional exposure…
Morgan Stanley, Meet Smith Barney…Play Nice, Boys.
“Meet the new boss. Same as the old boss” – The Who, Won’t Get Fooled Again The Morgan Stanley Smith Barney (MS) experiment is underway. According to the AP, not much will change to start with, other than new business cards and a new phone greeting from the receptionist. The cultures of these two white shoe…
TGIF Market Recap: Salute Your Dilution
[youtube=http://www.youtube.com/watch?v=kov83AXN1Xs] The Reformed Broker, AKA Professor Plum, here with today’s Market Recap… Today’s won’t be a legit recap as I am out of the office early today on a secret Golfing assignment. The big news today was the post-stress test avalanche of secondary offerings from the banks. Shareholders can Salute their Dilution while jamming…
This Just In: Wells Fargo Secondary Announced
Reuters just reported: 1869 RAS 08:12 WELLS FARGO & CO ISSUE TO RAISE $7.5 BLN- SOURCE =A3 1868 RAS 08:10 WELLS FARGO & CO TO SELL 341 MLN SHARES- SOURCE =A2 1867 RAS 08:10 WELLS FARGO & CO WFC PRICES STOCK ISSUE AT $22 PER SHARE Where did we hear that first? Oh, yeah…Doug Kass’s…
Market Recap: Bank Shorts Were Lunch Meat Today
[youtube=http://www.youtube.com/watch?v=mGMT99i00M4] The Reformed Broker, AKA Jackie Treehorn, here with today’s Market Recap… Plenty of traders put on bank stock shorts on the heels of last week’s positive pre-announcement from Wells Fargo (WFC). They didn’t like how the numbers were put together or thought the move was too much or both. Their money was confiscated today as…
