Tuesday, Jan 13, 2009
How many more bailouts do the banks need?
Reuters: U.S. bank earnings may be "frightful"
Government efforts to prop up U.S. banks and savings institutions have only partly cushioned the blow from what may have been the industry's worst three-month period since 1990.
Posted by gardeniadotnet @ 11:38 AM (194 views) Add Comment
2 Comments
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1. troy said...
of note from the article
Problems for banks are not concentrated only in housing.
A weakened economy, with unemployment at a nearly 16-year high, should cause loan losses to bleed beyond housing and further into credit card, commercial, construction and industrial loans.
Oppenheimer & Co analyst Meredith Whitney wrote on January 6 that banks receiving TARP money will report "meaningfully lower" capital levels as of December 31 than they had after they got the infusions.
2. troy said...
my point being that losses in these secondary areas of personal and corporate credit
will come out and bite the housing market for some time to come