Analysis

Ratings Cut for Bonds from 2005, 2006, later

Written by Timothy Blake on October 21, 2007 under Analysis, Archives

While many people seem critical of bond ratings, saying AAA ratings did not honestly and truthfully rate bonds correctly, S&P has lowered ratings on bonds issued as far back as 2005. Is this 20-20 hindsight, a cover-your-butt move, or simply a no-brainer? That is for you to decide. Here is what happened:

Stocks see Black Friday on mortgage blues, down 366.94

Written by Timothy Blake on October 19, 2007 under Analysis, Archives, Investors, Lenders

Citigroup Inc., Bank of America Corp. and JPMorgan Chase & Co. led financial shares to their worst week since 2002 after Wachovia Corp. said loan defaults reduced profit. The banks themselves received little sorrow from average customers. Increased ATM fees, insufficient funds fees and lower interest rates caused very few to feel sorry for the banks. Investors and shareholders saw thing differently.

Expect HFC, Beneficial Finance Closings as HSBC Cuts Back

Written by Timothy Blake on October 17, 2007 under Analysis, Archives, Job Losses, Lenders

Analysts at Household – HSBC Watch think HSBC learned from the recent subprime crisis, regardless of what they tell Knight Vinke and other activists. After studying HSBC and Household International for many years Household – HSBC Watch thinks HSBC will make a move soon. Changes must look like they are HSBC’s idea, not forced by others. Saving face is important to HSBC. From a business and profit standpoint this is what should happen soon:

Fed wants new regulations while the states do the work

Written by Timothy Blake on October 12, 2007 under Analysis, Archives, Government Positions, Opinion

Before making more rules and regulations to control subprime borrowing we suggest enforcement of existing rules. Why did the government set aside the final quarter of 2007 to review non-bank lenders? Warning signs existed as far back as 2002. Ameriquest paid a predatory lending fine not too long ago. The states took enfiorcement action against Household International and Ameriquest, and received flack from the Federal level while doing so. Something is wrong with the system. Protectionism by the OCC is the first issue that should be examined if the Fed really wants to look at the problem. OCC complaints went unanswered both before and after the Julie Williams era.

$5bn subprime hit makes Merrill unhappy

Written by Timothy Blake on October 07, 2007 under Analysis, Archives, Investors

MERRILL Lynch has become the latest banking heavyweight to succumb to the turmoil in the credit markets, as the US bank said that it would post a surprise third-quarter loss after writing down about $5 billion (£2.45bn) of subprime-related losses.

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