end of credit crisis near?

[BrilloPad]

They're great! remember Northern Rock?

July 26 2007 Shares close at 769.5p,


Goldman Sachs repeats a "conviction buy" recommendation.


“The business model remains robust and that management remains on track with the evolution of the model to an origination/distribution capability alongside its core mortgage platform.”

They don't get everything right - and they might be wrong about end of the "crisis"

http://news.hereisthecity.com/news/b...ews/7763.cntns


Bloomberg reports that Goldman Sachs lost money on more trading days during the first quarter than its main rivals. The firm lost money on 17 days, compared to 8 days at Morgan Stanley and 7 at Lehman Brothers. But Goldman came good making more than $100m on 28 trading days during the first-quarter, compared to 20 days at Morgan Stanley. Lehman made more than $90m on 13 days during the period.

[Bagpuss]

Few people look back at the some of the wild 'recommendations' these institutions make. Never trust anyone with vested interests

[AlfredJPruffock]

Crises - what crises ?


America's fourth-largest bank, Wachovia, is raising $7bn (£3.52bn) through emergency fundraising as the subprime mortgage crisis in the US continues to reverberate through the banking sector.


Wachovia is raising the funds through public offerings of common and convertible preference stock after incurring a surprise $350m loss in the first quarter of 2008 compared with $2.3bn in profit a year earlier.

The news came today as two of the biggest names in Wall Street - Citigroup and Merrill Lynch - were poised to report huge write-downs because of the continuing credit crisis. Analysts are bracing themselves for total write-downs of $17bn when the two banks report their quarterly results later this week.

At North Carolina-based Wachovia, the loss was caused by a rise in provisions against loans which had turned sour, particularly mortgages hit in the housing downturn. These option adjustable rate mortgages begin with a low interest rate, which is then replaced by a heftier charge.