Question-and-Answer SessionOperator Operator Instructions Your first question comes from the line of Steven Silver. Please go ahead, sir. Kent Thiry Steven? Is your mute on, Steven? Operator, perhaps we go on to the next one and come back to him. Operator Absolutely, of course, next question comes from...
Earnings Call ExcerptWells Fargo & Company WFC Q3 2009 Earnings Call October 21, 2009 8:30 am ET Executives Bob Strickland – Director of Investor Relations Howard I. Atkins – Chief Financial Officer & Senior Executive Vice President Presentation Bob Strickland Hello, this is Bob Strickland. Thank...
If you are not familiar with what an option ARM mortgage is, read this piece (Aug 13, 2008: Option ARMs- Who Thought Up these Time Bombs?)). I too was unfamiliar with it, despite following markets closely, until I read a BusinessWeek article in October 2006. Interest only mortgages? Yep I knew about those.[More...]
I track portfolios using software on my computer network and I use web-based applications. I even use simple tools like Yahoo Finance for instantaneous access to data. Yet Yahoo Finance has an inexplicable quirk when it comes to the SPDR Barclays Capital Convertible Bond Fund (NYSE: CWB). If you set up a portfolio with CWB in it, you'll often get a message, "No Such Ticker Symbol." It's been that way for 6 solid months, ever since the fund's inception.
Ben Bernanke, chairman of the Federal Reserve, has stayed carefully on the sidelines while a major argument has broken out among and around senior policymaking circles: Should our biggest banks be broken up, or can they be safely re-regulated into permanently good behavior? (See the recent competing answers from WSJ, FT, and the New Republic).[More...]
It seems that not a day goes by when you don’t hear about some asset sale in Citigroup’s far-flung empire. Of all the major too-big-to-fail institutions, it is easily the most troubled: the poster child for everything that is wrong in finance in America.[More...]
Last week, Charles Calomiris wrote an op-ed in the Wall Street Journal arguing that big banks are better for various reasons. Simon wrote last week saying that Calomiris underestimated the political dimension, and that his proposed solution — a cross-border resolution mechanism for large institutions — is the policy equivalent of assuming a can opener.[More...]
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