Word: bankses
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Well, how did you do it? It felt like it was four years' worth of work. There was so much volatility. We changed the stocks around a lot throughout the year. In July, when the banks were cratering, we bought Bank of America at 18 [dollars a share], and it...
How do you look at financials going forward? It's difficult. We avoided much of this mess, and we've tried to limit our exposure to the banks. We've dipped our toe in the water a few times now. USBancorp, I think, will be a survivor and will thrive...
Bank stocks have continued to plummet since the program was started in mid-October. Two of the nation's largest banks, Citigroup and Bank of America, have had to tap the relief fund twice, yet neither bank appears any more stable. Indeed, concerns about Bank of America's insolvency have...
"It's clear we need to do a lot more," says David Duffie, a finance professor at Stanford Graduate School of Business. "The losses at these banks are getting bigger and bigger."
But what to do? The only thing observers agree on is that none of the options are savory. Some economists believe we should stick with the current plan, and continue to buy up preferred shares in bank stocks. But a growing number of economists and industry watchers say we need...