Comments on: 4% chargeoffs? http://shopyield.com/2008/10/21/4-chargeoffs/ Building a retail fixed income industry... join in... Fri, 10 Feb 2012 00:24:25 +0000 http://wordpress.org/?v=2.6 By: cate http://shopyield.com/2008/10/21/4-chargeoffs/#comment-918 cate Wed, 22 Oct 2008 01:00:44 +0000 http://shopyield.com/?p=1739#comment-918 From Standard and Poors... ~~~~ "The U.S. Treasury Dept.'s Oct. 14 decision to set aside 0 billion of the 0 billion of funds approved by Congress under the Emergency Economic Stabilization Act to invest directly in financial institutions will help to stabilize the credit quality of the participating firms. We believe the clear implication is that the government views these firms as systemically important--a status that, by itself, should ease investor and counterparty concerns" ~~~~ From Standard and Poors…

~~~~ “The U.S. Treasury Dept.’s Oct. 14 decision to set aside 0 billion of the 0 billion of funds approved by Congress under the Emergency Economic Stabilization Act to invest directly in financial institutions will help to stabilize the credit quality of the participating firms. We believe the clear implication is that the government views these firms as systemically important–a status that, by itself, should ease investor and counterparty concerns” ~~~~

]]> By: cate http://shopyield.com/2008/10/21/4-chargeoffs/#comment-914 cate Tue, 21 Oct 2008 20:12:39 +0000 http://shopyield.com/?p=1739#comment-914 the upshot: look for citi, bank of america and jpmorgan chase to be nationalized outright at some point over the next two years, as real loan defaults eat through everything they've already set aside as loan loss reserve and more. the TARP, as whalen sees it, is a down payment on the kind of government assistance that is going to be required to help these banks absorb the losses they are already exposed to -- never mind new credit growth, which will be essentially nonexistent. of further concern, whalen's characterization of jpmorgan as "an OTC derivatives exchange with a bank attached to it" is utterly correct -- while citi is the riskiest of the large banks by traditional metrics, JPM carries scads of a different kind of non-banking risk. as for smaller regional banks -- many of which are reporting deeply disappointing earnings this week -- they are more likely now that ever to end up in FDIC receivership with the money center banks as well as GS and MS swooping on their deposit bases in resolution. http://declineandfallofwesterncivilization.blogspot.com/2008/10/now-for-real-losses.html the upshot: look for citi, bank of america and jpmorgan chase to be nationalized outright at some point over the next two years, as real loan defaults eat through everything they’ve already set aside as loan loss reserve and more. the TARP, as whalen sees it, is a down payment on the kind of government assistance that is going to be required to help these banks absorb the losses they are already exposed to — never mind new credit growth, which will be essentially nonexistent.

of further concern, whalen’s characterization of jpmorgan as “an OTC derivatives exchange with a bank attached to it” is utterly correct — while citi is the riskiest of the large banks by traditional metrics, JPM carries scads of a different kind of non-banking risk.

as for smaller regional banks — many of which are reporting deeply disappointing earnings this week — they are more likely now that ever to end up in FDIC receivership with the money center banks as well as GS and MS swooping on their deposit bases in resolution.

http://declineandfallofwesterncivilization.blogspot.com/2008/10/now-for-real-losses.html

]]> By: 4% chargeoffs? | World Financial Crisis Blog http://shopyield.com/2008/10/21/4-chargeoffs/ Building a retail fixed income industry... join in... Fri, 10 Feb 2012 00:24:25 +0000 http://wordpress.org/?v=2.6 Comments on: 4% chargeoffs? http://shopyield.com/2008/10/21/4-chargeoffs/ Building a retail fixed income industry... join in... Fri, 10 Feb 2012 00:24:25 +0000 http://wordpress.org/?v=2.6 By: cate http://shopyield.com/2008/10/21/4-chargeoffs/#comment-918 cate Wed, 22 Oct 2008 01:00:44 +0000 http://shopyield.com/?p=1739#comment-918 From Standard and Poors... ~~~~ "The U.S. Treasury Dept.'s Oct. 14 decision to set aside 0 billion of the 0 billion of funds approved by Congress under the Emergency Economic Stabilization Act to invest directly in financial institutions will help to stabilize the credit quality of the participating firms. We believe the clear implication is that the government views these firms as systemically important--a status that, by itself, should ease investor and counterparty concerns" ~~~~ From Standard and Poors…

~~~~ “The U.S. Treasury Dept.’s Oct. 14 decision to set aside 0 billion of the 0 billion of funds approved by Congress under the Emergency Economic Stabilization Act to invest directly in financial institutions will help to stabilize the credit quality of the participating firms. We believe the clear implication is that the government views these firms as systemically important–a status that, by itself, should ease investor and counterparty concerns” ~~~~

]]> By: cate http://shopyield.com/2008/10/21/4-chargeoffs/#comment-914 cate Tue, 21 Oct 2008 20:12:39 +0000 http://shopyield.com/?p=1739#comment-914 the upshot: look for citi, bank of america and jpmorgan chase to be nationalized outright at some point over the next two years, as real loan defaults eat through everything they've already set aside as loan loss reserve and more. the TARP, as whalen sees it, is a down payment on the kind of government assistance that is going to be required to help these banks absorb the losses they are already exposed to -- never mind new credit growth, which will be essentially nonexistent. of further concern, whalen's characterization of jpmorgan as "an OTC derivatives exchange with a bank attached to it" is utterly correct -- while citi is the riskiest of the large banks by traditional metrics, JPM carries scads of a different kind of non-banking risk. as for smaller regional banks -- many of which are reporting deeply disappointing earnings this week -- they are more likely now that ever to end up in FDIC receivership with the money center banks as well as GS and MS swooping on their deposit bases in resolution. http://declineandfallofwesterncivilization.blogspot.com/2008/10/now-for-real-losses.html the upshot: look for citi, bank of america and jpmorgan chase to be nationalized outright at some point over the next two years, as real loan defaults eat through everything they’ve already set aside as loan loss reserve and more. the TARP, as whalen sees it, is a down payment on the kind of government assistance that is going to be required to help these banks absorb the losses they are already exposed to — never mind new credit growth, which will be essentially nonexistent.

of further concern, whalen’s characterization of jpmorgan as “an OTC derivatives exchange with a bank attached to it” is utterly correct — while citi is the riskiest of the large banks by traditional metrics, JPM carries scads of a different kind of non-banking risk.

as for smaller regional banks — many of which are reporting deeply disappointing earnings this week — they are more likely now that ever to end up in FDIC receivership with the money center banks as well as GS and MS swooping on their deposit bases in resolution.

http://declineandfallofwesterncivilization.blogspot.com/2008/10/now-for-real-losses.html

]]> By: 4% chargeoffs? | World Financial Crisis Blog http://shopyield.com/2008/10/21/4-chargeoffs/#comment-918 cate Wed, 22 Oct 2008 01:00:44 +0000 http://shopyield.com/?p=1739#comment-918 From Standard and Poors... ~~~~ "The U.S. Treasury Dept.'s Oct. 14 decision to set aside $250 billion of the $700 billion of funds approved by Congress under the Emergency Economic Stabilization Act to invest directly in financial institutions will help to stabilize the credit quality of the participating firms. We believe the clear implication is that the government views these firms as systemically important--a status that, by itself, should ease investor and counterparty concerns" ~~~~ From Standard and Poors…

~~~~ “The U.S. Treasury Dept.’s Oct. 14 decision to set aside $250 billion of the $700 billion of funds approved by Congress under the Emergency Economic Stabilization Act to invest directly in financial institutions will help to stabilize the credit quality of the participating firms. We believe the clear implication is that the government views these firms as systemically important–a status that, by itself, should ease investor and counterparty concerns” ~~~~

]]> Comments on: 4% chargeoffs? http://shopyield.com/2008/10/21/4-chargeoffs/ Building a retail fixed income industry... join in... Fri, 10 Feb 2012 00:24:25 +0000 http://wordpress.org/?v=2.6 By: cate http://shopyield.com/2008/10/21/4-chargeoffs/#comment-918 cate Wed, 22 Oct 2008 01:00:44 +0000 http://shopyield.com/?p=1739#comment-918 From Standard and Poors... ~~~~ "The U.S. Treasury Dept.'s Oct. 14 decision to set aside 0 billion of the 0 billion of funds approved by Congress under the Emergency Economic Stabilization Act to invest directly in financial institutions will help to stabilize the credit quality of the participating firms. We believe the clear implication is that the government views these firms as systemically important--a status that, by itself, should ease investor and counterparty concerns" ~~~~ From Standard and Poors…

~~~~ “The U.S. Treasury Dept.’s Oct. 14 decision to set aside 0 billion of the 0 billion of funds approved by Congress under the Emergency Economic Stabilization Act to invest directly in financial institutions will help to stabilize the credit quality of the participating firms. We believe the clear implication is that the government views these firms as systemically important–a status that, by itself, should ease investor and counterparty concerns” ~~~~

]]> By: cate http://shopyield.com/2008/10/21/4-chargeoffs/#comment-914 cate Tue, 21 Oct 2008 20:12:39 +0000 http://shopyield.com/?p=1739#comment-914 the upshot: look for citi, bank of america and jpmorgan chase to be nationalized outright at some point over the next two years, as real loan defaults eat through everything they've already set aside as loan loss reserve and more. the TARP, as whalen sees it, is a down payment on the kind of government assistance that is going to be required to help these banks absorb the losses they are already exposed to -- never mind new credit growth, which will be essentially nonexistent. of further concern, whalen's characterization of jpmorgan as "an OTC derivatives exchange with a bank attached to it" is utterly correct -- while citi is the riskiest of the large banks by traditional metrics, JPM carries scads of a different kind of non-banking risk. as for smaller regional banks -- many of which are reporting deeply disappointing earnings this week -- they are more likely now that ever to end up in FDIC receivership with the money center banks as well as GS and MS swooping on their deposit bases in resolution. http://declineandfallofwesterncivilization.blogspot.com/2008/10/now-for-real-losses.html the upshot: look for citi, bank of america and jpmorgan chase to be nationalized outright at some point over the next two years, as real loan defaults eat through everything they’ve already set aside as loan loss reserve and more. the TARP, as whalen sees it, is a down payment on the kind of government assistance that is going to be required to help these banks absorb the losses they are already exposed to — never mind new credit growth, which will be essentially nonexistent.

of further concern, whalen’s characterization of jpmorgan as “an OTC derivatives exchange with a bank attached to it” is utterly correct — while citi is the riskiest of the large banks by traditional metrics, JPM carries scads of a different kind of non-banking risk.

as for smaller regional banks — many of which are reporting deeply disappointing earnings this week — they are more likely now that ever to end up in FDIC receivership with the money center banks as well as GS and MS swooping on their deposit bases in resolution.

http://declineandfallofwesterncivilization.blogspot.com/2008/10/now-for-real-losses.html

]]> By: 4% chargeoffs? | World Financial Crisis Blog http://shopyield.com/2008/10/21/4-chargeoffs/#comment-914 cate Tue, 21 Oct 2008 20:12:39 +0000 http://shopyield.com/?p=1739#comment-914 the upshot: look for citi, bank of america and jpmorgan chase to be nationalized outright at some point over the next two years, as real loan defaults eat through everything they've already set aside as loan loss reserve and more. the TARP, as whalen sees it, is a down payment on the kind of government assistance that is going to be required to help these banks absorb the losses they are already exposed to -- never mind new credit growth, which will be essentially nonexistent. of further concern, whalen's characterization of jpmorgan as "an OTC derivatives exchange with a bank attached to it" is utterly correct -- while citi is the riskiest of the large banks by traditional metrics, JPM carries scads of a different kind of non-banking risk. as for smaller regional banks -- many of which are reporting deeply disappointing earnings this week -- they are more likely now that ever to end up in FDIC receivership with the money center banks as well as GS and MS swooping on their deposit bases in resolution. http://declineandfallofwesterncivilization.blogspot.com/2008/10/now-for-real-losses.html the upshot: look for citi, bank of america and jpmorgan chase to be nationalized outright at some point over the next two years, as real loan defaults eat through everything they’ve already set aside as loan loss reserve and more. the TARP, as whalen sees it, is a down payment on the kind of government assistance that is going to be required to help these banks absorb the losses they are already exposed to — never mind new credit growth, which will be essentially nonexistent.

of further concern, whalen’s characterization of jpmorgan as “an OTC derivatives exchange with a bank attached to it” is utterly correct — while citi is the riskiest of the large banks by traditional metrics, JPM carries scads of a different kind of non-banking risk.

as for smaller regional banks — many of which are reporting deeply disappointing earnings this week — they are more likely now that ever to end up in FDIC receivership with the money center banks as well as GS and MS swooping on their deposit bases in resolution.

http://declineandfallofwesterncivilization.blogspot.com/2008/10/now-for-real-losses.html

]]> Comments on: 4% chargeoffs? http://shopyield.com/2008/10/21/4-chargeoffs/ Building a retail fixed income industry... join in... Fri, 10 Feb 2012 00:24:25 +0000 http://wordpress.org/?v=2.6 By: cate http://shopyield.com/2008/10/21/4-chargeoffs/#comment-918 cate Wed, 22 Oct 2008 01:00:44 +0000 http://shopyield.com/?p=1739#comment-918 From Standard and Poors... ~~~~ "The U.S. Treasury Dept.'s Oct. 14 decision to set aside 0 billion of the 0 billion of funds approved by Congress under the Emergency Economic Stabilization Act to invest directly in financial institutions will help to stabilize the credit quality of the participating firms. We believe the clear implication is that the government views these firms as systemically important--a status that, by itself, should ease investor and counterparty concerns" ~~~~ From Standard and Poors…

~~~~ “The U.S. Treasury Dept.’s Oct. 14 decision to set aside 0 billion of the 0 billion of funds approved by Congress under the Emergency Economic Stabilization Act to invest directly in financial institutions will help to stabilize the credit quality of the participating firms. We believe the clear implication is that the government views these firms as systemically important–a status that, by itself, should ease investor and counterparty concerns” ~~~~

]]> By: cate http://shopyield.com/2008/10/21/4-chargeoffs/#comment-914 cate Tue, 21 Oct 2008 20:12:39 +0000 http://shopyield.com/?p=1739#comment-914 the upshot: look for citi, bank of america and jpmorgan chase to be nationalized outright at some point over the next two years, as real loan defaults eat through everything they've already set aside as loan loss reserve and more. the TARP, as whalen sees it, is a down payment on the kind of government assistance that is going to be required to help these banks absorb the losses they are already exposed to -- never mind new credit growth, which will be essentially nonexistent. of further concern, whalen's characterization of jpmorgan as "an OTC derivatives exchange with a bank attached to it" is utterly correct -- while citi is the riskiest of the large banks by traditional metrics, JPM carries scads of a different kind of non-banking risk. as for smaller regional banks -- many of which are reporting deeply disappointing earnings this week -- they are more likely now that ever to end up in FDIC receivership with the money center banks as well as GS and MS swooping on their deposit bases in resolution. http://declineandfallofwesterncivilization.blogspot.com/2008/10/now-for-real-losses.html the upshot: look for citi, bank of america and jpmorgan chase to be nationalized outright at some point over the next two years, as real loan defaults eat through everything they’ve already set aside as loan loss reserve and more. the TARP, as whalen sees it, is a down payment on the kind of government assistance that is going to be required to help these banks absorb the losses they are already exposed to — never mind new credit growth, which will be essentially nonexistent.

of further concern, whalen’s characterization of jpmorgan as “an OTC derivatives exchange with a bank attached to it” is utterly correct — while citi is the riskiest of the large banks by traditional metrics, JPM carries scads of a different kind of non-banking risk.

as for smaller regional banks — many of which are reporting deeply disappointing earnings this week — they are more likely now that ever to end up in FDIC receivership with the money center banks as well as GS and MS swooping on their deposit bases in resolution.

http://declineandfallofwesterncivilization.blogspot.com/2008/10/now-for-real-losses.html

]]> By: 4% chargeoffs? | World Financial Crisis Blog http://shopyield.com/2008/10/21/4-chargeoffs/#comment-913 4% chargeoffs? | World Financial Crisis Blog Tue, 21 Oct 2008 16:46:54 +0000 http://shopyield.com/?p=1739#comment-913 [...] View post:4% chargeoffs? [...] [...] View post:4% chargeoffs? [...]

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