It’s all about Goldman

July 14, 2009

Markets are firmly fixed on what Goldman has to say about its second quarter results at 8:30 am. For those wanting a quick link to conference call info that starts at 11am, they can find it here. Meredith Whitney’s buy recommendation Monday has certainly built in expectations for a bumper quarter.

A Tale of Two Citi’s

July 10, 2009

Here’s a summer quiz: Identify the following two US banks:

1. This institution has been profitable throughout the credit crisis. Last year, it reported net income of $6bn on revenues of $60bn, despite taking big hits in its consumer operations in North and South America in the fourth quarter. At the end of the first quarter the bank had total assets of $958 billion, supported by a healthy deposit base of $660 billion.

Markets knocking the stuffing out of the optimists

July 8, 2009

Treasurys are up after a stellar auction of $19 billion reopened 10-year notes, stocks are floundering as investors worry about the economy and earnings season. More and more it feels like the pessimists have decisively turned the tide.

Beware the Tarp repayments

June 25, 2009

Shares of Goldman Sachs and Morgan Stanley are trading like the financial crisis never happened. In fact, Goldman’ stock is trading at  price that’s right around where it was the Friday before Lehman Brothers filed for bankruptcy last September.

What about those Goldman bonuses?

June 22, 2009

Will Goldman Sachs have its best year ever in 2009? Will it payout record bonuses? Maybe. Then again, maybe not.

The cost of paying back TARP

June 17, 2009

In a fitting twist of irony, Goldman Sachs joined other major banks in paying back the TARP on the very same day the Obama administration was releasing its financial regulatory reform package.