Banks

Two days ago I wrote an article about the dysfunctional culture at Barclays (LSE:BARC) that had created an atmosphere that essentially ignored the “Do the right thing” culture that I grew up in with a “Do what I say or else” culture put employees all employees at the virtual edge of a slippery slope.  In […]

In most cases where fraud and regulatory non-compliance are revealed, the press reports the story, politicians point their fingers, and the populace gets in a tizzy.  Someone loses their job, fines may be paid, the politicians are happy, and the public sleeps at night again thinking that everything is fixed.  With a little patience the […]

US banking giant Morgan Stanley report strong growth in profits. Morgan Stanley has called a strong rise in profits a “pivot point” and a sign that the bank is making “meaningful progress”. The bank reported a net profit of $481m between October and December 2012, a result of a 37% increase in revenue to $7.5bn. […]

Trading in HMV stock suspended on the London Stock Exchange ahead of HMV Group appointing administrators. Troubled UK retailer entertainment HMV (LSE:HMV) has announced it will appoint administrators Deloitte after being “unable to reach a position where it feels able to continue to trade outside of insolvency protection”. In recent days suppliers, including major music […]

BBC reported today that Royal Bank of Scotland plc (LSE:RBS) (NYSE:RBS) is now in the final stage of negotiations as to how much fine it will pay over its alleged participation in the London Inter-Bank Offer Rates or LIBOR, which may also claim one executive’s seat at the bank. According to Robert Peston, BBC’s Business […]

That’s right.  UBS is “too arrogant” and “corrupted.”  Hold on now.  We didn’t say that (yet). It was UBS CEO Andrea Orcel who said that UBS and other major banks have been “too arrogant.”  The other was that financial guru, the Archbishop of Canterbury, who called the bank a “corrupted” organization.  Wow!  What a surprise! […]

Barclays shares (LSE:BARC) are in a bullish mode, and will continue as such. Along the way, bulls will make mincemeat of bears. When it comes to this, bulls are not nice. They got a bad mind against the bears. The toad says he has a bad mind; who will see his rough skin and not […]

Lloyd’s stock (LSE:LLOY) has been experiencing a good rally in recent times. Below is what is expected of the price movement for the most of this year. On the chart, 4 Exponential Moving Averages are used. They are EMAs 10, 20, 50 and 200 (the color that stands for each EMA is indicated at the […]

Bank of America (NYSE:BAC) has agreed to pay $10.35 billion USD to settle claims for loans originated by the bank and sold to Fannie Mae between 2000 and 2008. The loans in question were actually originated by Bank of America N.A. and Countrywide Financial, which Bank of America acquired in 2008.  $3.6 billion of the […]

Wegelin, the oldest Swiss bank, is about to close permanently after pleading guilty in a New York court to helping Americans evade taxes. The bank, established in 1741, has agreed to pay $57.8m (£36m) in fines to US authorities. Wegelin admitted that it helped more than one hundred Americans to hide $1.2bn from the Internal […]