end of credit crisis near?

[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.

[Bagpuss]

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

[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]

Goldman Sachs' Lloyd Blankfein sees end of credit crisis

http://www.telegraph.co.uk/money/mai...cnsachs111.xml

Goldmine Sucks seem to get these things right more often than not?

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.”

[BrilloPad]

Not as well informed (or qualified) to speak as our resident 'economist' (where has he gone btw?)

If think he is preparing a list of names and what he thinks of them...

[oracleslave]

You already are if you're posting from ClientCo today...

Indeed.

[Chugnut]

Too true. I should charge for this advice.

You already are if you're posting from ClientCo today...

[oracleslave]

Boomed! Right, time to call the estate agents and sign-up with Inside Track and stock up on some more BTL properties.

Too true. I should charge for this advice.

[DimPrawn]

He did mention that we are closer to the end than the beginning which kind of allows for a rough projection of dates.

Boomed! Right, time to call the estate agents and sign-up with Inside Track and stock up on some more BTL properties.

[oracleslave]

Take out all the B$ he said nothing. Maybe we are approaching the end of the credit crisis , or maybe not, and he doesnt know how long it will go on for.

If you are a PM and you said to the boss, We may be near the end of the project, maybe not and I am not sure how long its going to take, you would probably get fired not quoted in the newspaper

He did mention that we are closer to the end than the beginning which kind of allows for a rough projection of dates.

[sunnysan]

Got what right

Take out all the B$ he said nothing. Maybe we are approaching the end of the credit crisis , or maybe not, and he doesnt know how long it will go on for.

If you are a PM and you said to the boss, We may be near the end of the project, maybe not and I am not sure how long its going to take, you would probably get fired not quoted in the newspaper

[Dow Jones]

Maybe, but...

Not as well informed (or qualified) to speak as our resident 'economist' (where has he gone btw?)

[BrilloPad]

Goldman Sachs' Lloyd Blankfein sees end of credit crisis

http://www.telegraph.co.uk/money/mai...cnsachs111.xml

Goldmine Sucks seem to get these things right more often than not?