Word: banke
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...pays for bank presidents to say the most positive things that they can about their firms. They have the benefit of SEC rules that say it is OK to talk about the future as long as there are no guarantees given. In other words, CEOs are allowed to guess without getting into trouble as long as they do not turn their guesses into formal forecasts. In the world of corporate governance it is one of the great "get out of jail free" cards...
...Several bank stocks have doubled or tripled since the beginning of the month and many analysts say that these stocks were "oversold." In reality, when buyers moved into the shares short sellers were pushed out, which gave an irregular boost to buying. But, most of those short sellers are gone now and bank share prices will have to stand on their...
...Bank stock bulls rest much of their case on the fact the write-offs at financial firms are slowing and the Fed is putting enough money into the credit system to restart the normal cycle of borrowing and lending. That may well be true. Those pushing bank stocks as a great investment would also say that, even though a stock like Citigroup (C) has had a great run, it is down 90% from its 52-week high. That makes it a bargain...
...earns a bonus, then paying it out over a number of years makes a lot of sense,' says Paul Hodgson, a senior research associate at the Corporate Library, which examines issues of corporate governance. "But I find it hard to believe that any top executive at a bailed-out bank would have had the performance in 2008 to generate a multimillion-dollar bonus." (Read "Is Citibank Really Out of the Woods...
...bonuses for top executives at Citi are particularly surprising because the company is typically seen as the most in danger of failing among the nation's largest banks. Citi has received more government assistance than any other bank: $45 billion in cash infusions and over $300 billion in loan guarantees since late October. By comparison, none of Bank of America's top five executives will receive a cash bonus...