Two of the largest U.S. financial institutions kicked off third-quarter results for big bank earnings today, giving us a peek at how they fared amid tough times for both firms.
Wells Fargo & Co (NYSE: WFC) is in the midst of slashing headcount in its mortgage unit by some 1,800, and JPMorgan Chase & Co (NYSE: JPM) is tangled up in settlement talks with the U.S. Justice Department.
Here are two items that will upset you…
This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission. TBTF is the acronym for “too big to fail.” It’s the crazy notion that certain banks are so large and systematically important (which really means so threatening to financial systems) that they must be kept alive by the…
This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission. Thank goodness we have the FDIC and the Federal Reserve and Congressmen and women. Thank goodness they’re willing to tap the captive citizenry for as much cash as they need to back the Fed and the FDIC to…
This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission. Big banks turned in a pretty stellar first quarter. All but one beat profits expectations. But as I told you last week, I’m now out of these stocks completely. Do you want the truth about what shape banks…
This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission. I’m not buying any bank stocks here. I don’t own any at present. And if I did, I’d either sell them or at least hedge them. It’s not that they’re doing poorly. They’re not. Bank stocks have been…
