Credit Writedowns » Wells Fargo

CNBC: One-On-One with Buffett

Edward Harrison — Thu, 21 Jan 2010 03:30:41 +0000

The video is pretty all-encompassing and runs just under 30 minutes. Buffett is down on Kraft-Cadbury, raising rates and the bank tax. He is up on Wells Fargo. That sums it up pretty well. Quotes On Wells: Well, my guess is that the revenue and all of that is more or less like

Credit Writedowns Pro is live. Sign up today for premium content.
CNBC: One-On-One with Buffett originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Wells profit forecast is a clear bullish sign 9 Apr 2009
More Warren Buffett on CNBC 9 Mar 2009
Quote of the day: Warren Buffett 14 Jul 2008

Short sale fraud

Edward Harrison — Wed, 20 Jan 2010 22:28:25 +0000

CNBC’s Diana Olick has the breaking story on alleged fraud in the mortgage industry. She has been writing about this for a few days now. See Big Banks Accused of Short Sale Fraud – Realty Check with Diana Olick at CNBC’s website. Basically, second liens on properties like home equity loans have a blocking interest

Credit Writedowns Pro is live. Sign up today for premium content.
Short sale fraud originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Banks can do ‘You Walk Away’ too 30 Mar 2009
Cruising foreclosures, REO and short sales with Jim the Realtor 21 Jul 2009
Extend and pretend and the growing divide between delinquencies and foreclosures 28 Oct 2009

Wells Fargo becomes last of big banks to repay TARP

Edward Harrison — Tue, 15 Dec 2009 01:25:16 +0000

Wells Fargo has announced it is to repay $25 billion in funds it received from government under the Troubled Asset Relief Program. This makes Wells the last of the big banks to repay its TARP funds. In announcing the decision, the company CEO was quoted as saying: TARP stabilized our country’s financial system when confidence

Credit Writedowns Pro is live. Sign up today for premium content.
Wells Fargo becomes last of big banks to repay TARP originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Citi to repay $20 billion in bailout money 14 Dec 2009
Wells Fargo to buy Wachovia 3 Oct 2008
Ten big banks receive approval to repay TARP funds 9 Jun 2009

Is Citi being forced to downsize by Obama?

Edward Harrison — Tue, 27 Oct 2009 03:12:50 +0000

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. But, when President Obama’s Pay Czar Kenneth Feinberg stepped in to

Credit Writedowns Pro is live. Sign up today for premium content.
Is Citi being forced to downsize by Obama? originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Does Obama have the legal authority to take over Citi? 9 Mar 2009
JPMorgan has record revenue and $2.7 billion in profit 16 Jul 2009
BofA, Citi, Wells and GMAC biggest losers in stress test leaks 6 May 2009

How much money is Wells Fargo really making?

Edward Harrison — Fri, 23 Oct 2009 16:30:26 +0000

The positive earnings announcement by Wells Fargo on Wednesday was marred by a sell recommendation from Dick Bove and a lot of chatter about credit writedowns and mortgage servicing rights (MSRs). I wanted to add a few words about the report, MSRs, and bank stocks more generally. First of all, this has been a very

Credit Writedowns Pro is live. Sign up today for premium content.
How much money is Wells Fargo really making? originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Wells Fargo to buy Wachovia 3 Oct 2008
How refinancing helps the likes of Bank of America and Wells Fargo 26 May 2009
Wells profit forecast is a clear bullish sign 9 Apr 2009

Wells sells $600 million in distressed assets at 35 cents on dollar

Edward Harrison — Wed, 15 Jul 2009 13:47:11 +0000

I got a tip from a friend Andrew about a sale of assets by Wells Fargo (WFC) which raises a number of interesting questions. He sent me the following 14 July article from the Milwaukee Business Journal. Wells Fargo sold $600 million in mostly non-performing subprime loans to Irvine, Calif.-based Arch Bay Capital, National Mortgage

Credit Writedowns Pro is live. Sign up today for premium content.
Wells sells $600 million in distressed assets at 35 cents on dollar originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Wells profit forecast is a clear bullish sign 9 Apr 2009
Creditors paid in full? No – try 6 cents on the dollar 19 Aug 2008
Wells Fargo to buy Wachovia 3 Oct 2008

How refinancing helps the likes of Bank of America and Wells Fargo

Edward Harrison — Tue, 26 May 2009 20:19:29 +0000

Earlier today I posted an article about how accounting was favourable to banks in that it could help them weather the storm and appear well-capitalized until a recovery is underway. Afterwards, a buoyant economy would increase earnings enough to allow the massive writedowns that need to flow through the income statement to be taken in

Credit Writedowns Pro is live. Sign up today for premium content.
How refinancing helps the likes of Bank of America and Wells Fargo originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

More on Fannie and Freddie – Signs of life in the Refi Market? 3 Dec 2008
Mortgage distress shifts to prime borrowers 5 Jun 2008
Fixed rate mortgages at a nine-month high 20 Jun 2008

BofA, Citi, Wells and GMAC biggest losers in stress test leaks

Edward Harrison — Wed, 06 May 2009 21:28:02 +0000

If you haven’t noticed, the Treasury department seems to be leaking the results of the stress tests to reporters at the Wall Street Journal. Richard Bove, a well-known bank analyst was on Bloomberg Radio this morning talking to Tom Keene and said he knows they have been leaking. Yves Smith was on top of this

Credit Writedowns Pro is live. Sign up today for premium content.
BofA, Citi, Wells and GMAC biggest losers in stress test leaks originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Stress tests reveal Citi and BofA need more capital, but you knew that already 28 Apr 2009
At least six banks need more capital under stress tests 29 Apr 2009
Creeping Nationalization 2 Mar 2009

Warren Buffett: Wells passes my own stress test

Edward Harrison — Sat, 02 May 2009 18:36:32 +0000

Warren Buffet speaks with CNBC in the lead up to the Berkshire Hathaway Annual Meeting. He talks a bit about stress tests and Citigroup. When asked about Wells Fargo, he says he administers his own stress tests and that Wells passes “with flying colors.” He also uses an analogy of a commodities producer selling copper

Credit Writedowns Pro is live. Sign up today for premium content.
Warren Buffett: Wells passes my own stress test originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Warren Buffett on Bloomberg Television 12 Mar 2009
Reinhart: Not everybody can be above-average in stress tests 22 Apr 2009
Wells Fargo to buy Wachovia 3 Oct 2008

Wells profit forecast is a clear bullish sign

Edward Harrison — Thu, 09 Apr 2009 15:46:17 +0000

I am still away on Holiday in Mexico but have been checking the news and was not surprised to learn about the recent Wells Fargo announcement. I am coming off the fence here and looking for a bullish outcome on financial services. The bank said profit will be $3bn in the first quarter, thanks to

Credit Writedowns Pro is live. Sign up today for premium content.
Wells profit forecast is a clear bullish sign originally appeared on Credit Writedowns

Links: RSS - Daily - Weekly - Twitter - Facebook - Contact
Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1

Related Posts

Dividends are under pressure 23 Jan 2009
Quality financials are out there 18 Jul 2008