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It’s almost become akin to shooting fish in a barrel: find a TARP recipient — there’s over 400 of them now according to the latest report from Treasury — and then troll through their recent SEC filings to see how at least some of that money was spent on enriching an executive (or two). It’s [...]
Tempting as it is to focus on the giant banks, like Citi (C) and Bank of America (BAC), I couldn’t help but notice this 8K filed by The South Financial Group (TSFG) late Friday. Over the past year, the South Carolina bank’s stock has declined by 95% and the stock is currently trading at under [...]
Inspired by yesterday’s marathon hearing that saw 8 of the nation’s top banking titans subjected to hours of Congressional questions, I decided to do a little wandering through some filings from a few years ago, when things were decidedly rosier. It didn’t take that long for me to come across this filing from Golden West, [...]
It’s snowing here in the northern burbs, which has given me plenty of time to brew some coffee and dig into the 10K that Goldman Sachs (GS) filed yesterday. Weighing in at 691 pages — nearly double the size of last year’s K, it’s certainly a lot to digest and we have to admit getting [...]
A short time ago, shareholders of Merrill Lynch (MER) approved the firm’s “merger” with Bank of America (BAC), according to this brief snippet from the WSJ, “ending the Wall Street firms storied 94-year history as an independent company.” But things aren’t all that bleak, judging by a careful reading of some of the recent merger [...]
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