Word: consumerized
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The Canadian experience with EFF reinforces the U.S. experience with TARP: government loses control of stimulus money once it falls into the hands of recipients. Obama needs to be realistic about what the "bad bank" can accomplish - namely relieving banks of some junk assets at considerable cost to the taxpayer...
Citigroup Loan losses: Even after making a government deal, the bank is still on the hook for the first $40 billion in loan losses in the pool it has insured. Citi also has $277 billion in other, nonhousing consumer loans, such as credit cards and student debt. Roubini estimates that...
Bank of America Loan losses: BofA's buyout of mortgage broker Countrywide means the bank has $400 billion in home loans outstanding - more than its competitors. Worse, Countrywide, by nearly all accounts, had shockingly low lending standards. Chalk up a higher-than-average $40 billion in losses there. On top...
As the news about PC and cell phone sales begins to trickle out company-by-company, it is becoming clear that a $199 handset or a $999 PC are not on the consumer's shopping list. Nokia (NOK), which has 40% of the world's handset market reported that global...
People in the wireless industry have been talking about what will replace 3G networks in the next two or three years. AT&T (T), Verizon (VZ), Sprint (S), and their peers overseas need something to spark consumer demand now that many people already own handsets and higher-end smartphones.