The previous quarter, banks truly stretched any possible accounting and regulatory standard to the limit to kick the can down the road, hoping a #FED rate cut could give them some relief. Unfortunately for them, not only did this not happen, but today our dear Jerome Burns reminded everyone that…
Tag:#HSBC
MEANWHILE STOCKS ENJOY THE HEAVENS, BANKS ARE GOING THROUGH HELL
It’s been some time since I first rang the alarm bell about the crisis unfolding in the Commercial Real Estate sector (#CRE) in the US. Banks’ risk departments were largely ignoring this crisis, an issue I highlighted in my previous post, ”The great paradox of CRE lending: while owners are…
UBS Q1-24 RESULTS REVIEW – THE “LA LA LAND” BANK
“UBS swings back to profit and smashes earnings expectations for the first quarter”, was the CNBC headline shortly after #UBS Q1-24 results announcement. But what about all other MSM? Everyone, of course, is jumping on the same celebratory bandwagon. I wonder how many of these people influencing markets and sentiment…
IS HSBC CEO “UNEXPECTEDLY” LEAVING BECAUSE THE BANK WON’T BE ABLE TO HIDE ITS PROBLEMS FOR MUCH LONGER?
Did anyone expect HSBC CEO Noel Quinn to step down yesterday? Clearly not: However, a 3 billion$ buyback plus a 21c special dividend announcement sweetened the bitter pill of the CEO’s resignation so much that the investors’ sugar-high reaction was quite remarkable, with the stock closing up 4% and now…