Wells Fargo

rcwhalen's picture

Q4 2012 Bank Earnings Outlook -- Lower Mortgage Volumes Suggest Anything?





If the large TBTF banks are really being forced  out of the mortgage business, then just how will we achieve these revenue growth rates?  How indeed.

 
Tyler Durden's picture

Frontrunning: January 8





  • London Quantitative Hedge Funds Report Second Year of Losses (BBG)
  • Berlusconi Forms Alliance in Comeback Bid (WSJ)
  • Japan to Buy ESM Bonds Using FX Reserves to Help Weaken Yen (BBG)
  • Japan Mulling BOJ Accord Linked to Employment, Mainichi Says (BBG)
  • Samsung Expects Record Operating Profit (WSJ)
  • Boeing 787 Dreamliner Fire Probed, Blaze Adds to Setbacks (BBG)
  • BOJ's Shirai: Open to Firmer Inflation Target (WSJ)
  • HSBC N.J. Client Admits Conspiracy in Offshore Tax Case (BBG)
  • Lampert to Assume CEO Role at Sears (WSJ)
  • Abe prepares fresh stimulus measures (FT)
  • U.S. Set for Biggest State-Local Jobs Boost Since 2007 (BBG)
  • Pakistan Seen Needing IMF Bailout as Rupee Drops Before Vote (BBG)
 
Tyler Durden's picture

Banks Put Linda Green Behind Them With $10 Billion Robosigning Settlement





The chapter on robosigning, i.e., Fraudclosure, is now closed with a $10 billion wristslap on US banks, of which a whopping $3.3 billion in the form of direct cash and $5.2 billion in "other assistance." The banks who are now absolved from any and all Linda Green transgressions in the past include: Aurora, Bank of America, Citibank, JPMorgan Chase, MetLife Bank, PNC, Sovereign, SunTrust, U.S. Bank, and Wells Fargo. And so, banks can resume to resell properties with mortgages on which the original lien may or may not have been lost in the sands of time.

 
Tyler Durden's picture

Frontrunning: January 7





  • Secret and Lies of the Bailout (Rolling Stone)
  • Banks Win 4-Year Delay as Basel Liquidity Rule Loosened (BBG)
  • Hedge Funds Squeezed With Shorts Beating S&P 500 (BBG)
  • Bankruptcy regime for nations urged (FT)
  • Is the Fed Doing Enough—or Too Much—to Aid Recovery (WSJ)
  • Cracks widen in US debt ceiling debate (FT)
  • McConnell Takes Taxes Off the Table in Debt Limit Negotiations (BBG)
  • Abe Seen Spending 12 Trillion Yen to Boost Japan’s Economy (BBG)
  • Monti, Berlusconi Spar on Taxes in Weekend Media Barrage (BBG)
  • Cameron Sets New Priorities for U.K. Coalition (BBG)
  • Defiant Assad Rules Out Talks With Rebels (WSJ)
  • Korea Seen Resisting Rate Cut as Won Threatens Exports (BBG)
 
Tyler Durden's picture

Sentiment Shifts From Macro To The Micro, As Washington Is Forgotten For A Few Brief Days





D-day - the real D-Day: the day after which the US government will have to start shutting down - is now 52 days away, but with the Pyrrhic victory on the Fiscal Cliff, which once more, did nothing to resolve the Fiscal Cliff issue but merely hiked payroll taxes for some, general income taxes for others, even as drunken sailor spending has persisted, it is virtually a guarantee that nothing will happen in D.C. for at least 3-4 more weeks until the posturing and jawboning soars in earnest. Only this time the can kicking won't be nearly as easy. In other news, for the first time in maybe 2 months, the algos are neither gripped by headlines about Washington, or macro events, but micro, as the fourth quarter earnings season kicks off, with Alcoa reporting on Tuesday, Wells on Friday and a true launch of Q4 earnings season next week. And since revenues are set to continue deteriorating despite estimates of a Y/Y increase in top lines following a disastrous Q3, and let's not even mention cash flow, operating earnings and capital reinvestment, once again it will all be about EPS rejiggering and accounting games.

 
Tyler Durden's picture

Frontrunning: January 4





  • Just like last year: A Postholiday Letdown for Retailers (WSJ)
  • Obama Fights Republicans on Debt as Investors Seek Growth (BBG)
  • Housing a Sweet Spot for U.S. Economy as Recovery Expands (BBG)
  • House chooses Boehner as speaker again despite dissent (Reuters)
  • Backlash pushes Republicans to seek cuts (FT)
  • Jobs Lost Hit 5 Million With Rigged Currencies (BBG)
  • Chavez still has "severe" respiratory problem (Reuters)
  • Paris promises flurry of economic reforms  (FT)
  • Investors Sour on Pro Stock Pickers (WSJ)
  • Abe moves to ease South Korea tensions (FT)
  • Wildfires Hit Australia Amid Worst Heatwave in Decade (BBG)
  • Monti attacks ‘extremist’ rivals (FT)
 
Tyler Durden's picture

No - Americans, Paradoxically, Do Trust The Big Banks





Overnight, Frank Partnoy and Jesse Eisinger released an epic magnum opus titled "What's Inside America's Banks", in which they use over 9000 words, including spot on references to Wells Fargo, JPM, Andy Haldane, Kevin Warsh, Basel II, Basel III (whose regulatory framework is now 509 pages and includes a ridiculous 78 calculus equations to suggest that banks have to delever by some $3 trillion, which is why it will never pass) to give their answer: "Nobody knows." Of course, while this yeoman's effort may come as news to a broader cross-section of the population, is it well known by anyone who has even a passing interest in the loan-loss reserve release earnings generating black boxes formerly known as banks (which once upon a time made their money using Net Interest margin, and actually lending out money to make a profit), and now simply known as FDIC insured Bank Holding Company hedge funds. This also happens to be the second sentence in the lead paragraph of the story: "Sophisticated investors describe big banks as “black boxes” that may still be concealing enormous risks—the sort that could again take down the economy." So far so good, and again - not truly news. What however may come as news to none other than the author is that the first sentence of the lead-in: 'Some four years after the 2008 financial crisis, public trust in banks is as low as ever" is, sadly, wrong.

 
Tyler Durden's picture

Frontrunning: January 3





  • Obama Signs Bill Enacting Budget Deal to Avert Most Tax Hikes (BBG)
  • GOP Leaders Take Political Risk With Deal (WSJ)
  • Basel Becomes Babel as Conflicting Rules Undermine Safety (BBG)
  • Portugal Faces Divisions Over Austerity Measures (WSJ)
  • The Fiscal Cliff Deal and the Damage Done (BBG)
  • Cliff deal threatens second term agenda (FT)
  • Deposits stable in euro zone periphery in November (Reuters)
  • Fresh Budget Fights Brewing (WSJ)
  • China Poised for 2013 Rebound as Debt Risks Rise for Xi (BBG)
  • Who's Afraid of Italian Elections?  (WSJ)
  • China services growth adds to economic revival hopes (Reuters)
  • Asian Economies Show Signs of Strength (WSJ)
  • Japan’s Aso Targets Myanmar Markets Amid China Rivalry (Bloomberg)
 
Tyler Durden's picture

Frontrunning: January 2





  • Senate-Passed Deal Means Higher Tax on 77% of Households (BBG)
  • Bipartisan House Backs Tax Deal Vote as Next Fight Looms (BBG)
  • Fresh stand-off looms after US cliff deal (FT)
  • Congress Deal Averting Tax Increase Curbs Risk to States (BBG)
  • How Colombian drug traffickers used HSBC to launder money (Reuters)
  • Danes Face New Reality in Struggle to End Crisis, PM Says (BBG)
  • Ban on demanding Facebook passwords among new 2013 state laws (Reuters)
  • Oil Climbs to Three-Month High as U.S. House Passes Budget Bill (BBG)
  • Cameron seeks bold steps from G8 leaders (FT)
  • China to outstrip Europe car production (FT)
  • North Korea Picks Stronger Economy, South Ties as Top 2013 Tasks (BBG)
 
Tyler Durden's picture

Frontrunning: December 27





  • U.S. Family of Mao’s General Assimilates, Votes for Obama (Bloomberg)
  • Iron ore prices hit eight-month high (FT)... four months after plunging and crushing iron ore miners
  • Obama seeks 60 Senate votes for cliff deal (MarketWatch)
  • Need. Moar. InfinitQEeee: Japan PM adviser urges unlimited BOJ easing, higher price goal (Reuters)
  • Yen Touches 16-Month Low Versus Euro Before Japan CPI (BBG)
  • China consumers driving economic rebound (Reuters) - ot just year end window dressing to accompany the new Politburo
  • Rajaratnam agrees to pay $1.5 million disgorgement in SEC case (Reuters)
  • France should review 2013 deficit target with EU partners (Reuters)
  • Monti-led poll alliance takes shape (FT)
  • Bersani wants growth-oriented Europe (FT)
 
4closureFraud's picture

MERSy Christmas Everyone!





In the end, it was the banksters they chose, and thanks to your government, you got hosed.

 
Tyler Durden's picture

Frontrunning: Mayan Apocalypse Edition





  • This is signal, the rest is noise: Russia's Putin set for stand-off with EU on Syria, energy (Reuters)
  • Boehner's Budget 'Plan B' Collapses (WSJ)
  • Boehner has few options in "fiscal cliff" mess (Reuters)
  • Maya "end of days" fever reaches climax in Mexico (Reuters)
  • Monti Praised by Merkel Favored Less by Taxed Italians (BusinessWeek)
  • China probes Yum Brands' KFC over safety of chicken productsa (Reuters)
  • Looting in Aregentina: 400 Border Guard officials deployed to Bariloche over looting (BAH)
  • Regulatory 'Whale' Hunt Advances - Comptroller Expected to Take Formal Action Regarding JPM's Trading Fiasco (WSJ) - but no punishment
  • U.K. Banks Seen Sacrificing Lending to Meet BOE Demand (Bloomberg)
  • US banks face rise in bad loans cover (FT)
  • Daily Gun Slaughter in U.S. Obscured by Newtown Rampage (BBG)
  • China Restricts Bond Sales by Risker Companies (BBG)
 
Tyler Durden's picture

Frontrunning: December 20





  • IMF Demands Partial Default for Cyprus (Spiegel)
  • Boehner's 'Plan B' Gets Pushback (WSJ)
  • Beijing criticises US ‘political checks’ (FT)
  • White House Said to Tell Business Groups Talks Stall (BBG)
  • NYSE tries to get hitched again: IntercontinentalExchange in talks to buy NYSE (Reuters) -> N-Ice coming?
  • Greece faces ‘make or break’ year (FT)
  • Fed rejects idea of consensus forecasts, "maybe forever": Fisher (Reuters)
  • Rajoy Drives Spanish Revolution With Low-Cost Manufacture (BBG)
  • Italian Senate Set for Budget Vote Before Monti Resigns (BBG)
  • BOJ Loosens With Pledge to Review Inflation Objectives (BBG)
  • Bowing To Abe, BOJ To Review Price Goal (WSJ)
 
Tyler Durden's picture

Frontrunning: December 19





  • Republicans put squeeze on Obama in "fiscal cliff" talks (Reuters)
  • Inquiry harshly criticizes State Department over Benghazi attack (Reuters)
  • Banks See Biggest Returns Since ’03 as Employees Suffer (BBG)
  • Italy president urges election be held on time (Reuters)
  • Bank of England Says Sterling Hurting Economy (WSJ) - there's an app for that, it's called a Goldman BOE chairman
  • China slowdown hits Indonesian farmers (FT)
  • China dispute hits Japanese exports (FT)
  • Market to get even more monopolized by the HFT king: Getco wins Knight with $2 bln sweetened offer (Reuters)
  • MF Global Cases Focus on 'Letters' (WSJ)
  • UBS fined $1.5 billion in growing Libor scandal (Reuters)
  • Spotlight swings to interdealer brokers (FT)
  • China Widens Access to Capital Markets (WSJ)
  • With Instagram, Facebook Spars With Twitter (WSJ)
 
Syndicate content
Do NOT follow this link or you will be banned from the site!