Word: fbr
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Dates: during 2000-2009
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...first I thought there was no way this would fly," says analyst Paul Miller at FBR Capital Markets. "But I talk to a number of bank executives, and they like...
...very rare when you split the chairman and CEO position for the top executive to stay in place," says Paul Miller, who follows Bank of America at FBR Capital Markets. The executive's performance during the financial crisis has come under increasing scrutiny in the past few months. At the center of the criticism, and the SEC complaint, is the way Lewis handled the Merrill Lynch acquisition. Lewis and his executives hammered out the details of the multibillion deal to buy Merrill over the course of a single weekend during the worst of the financial crisis. Quickly, it became apparent...
...While [Wells'] management's efforts to 'de-risk' Wachovia's problem loans may help in the near term, we still expect losses to exceed management's expectations," wrote analyst Paul Miller, who follows banks at FBR Capital Markets, in a recent report to clients. Miller, who rates Wells' shares "underperform," expects Wells' stock to fall by half its current price to $12. "Given our macro outlook ... we just can't get comfortable with Wells' balance sheet...
...until a few months ago, I thought we were going to pull through this O.K.," says analyst James Abbott, who follows regional banks for FBR Capital Markets. "But now I am scared. For a lot of banks, this downturn does not look survivable...
...government's plan is a nice thought, but it is just not going to work," says Paul Miller, who follows banks stocks at FBR Capital Markets. "None of these banks have the capital necessary to recognize these losses...