It looks like the big banks aren't out of the woods from past indiscretions yet.
Just this week the most powerful court in Europe has accused 13 major global financial institutions (many US based) of colluding back in the heady days that led up to the 2008 financial reckoning.
According to Shah Gilani, the usual suspects are at it again and nobody but Elizabeth Warren is willing to push back. Read more...
Emails uncovered by British media and a DC-based group show $32 trillion has been hidden in offshore accounts. Guess who the culprits are... Read more...
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Two Senators have just introduced their own TBTF bill. It stands for “Terminating Bailouts for Taxpayer Fairness” and it’s a thing of beauty. Read more...
Shah Gilani pulls back the curtain on dangerous big bank shenanigans. The bottom line: The 2008 financial crisis could happen all over again. Read more...
Do you want the truth about what shape banks are in right now? Sure you can handle it? Shah Gilani explains why nothing has really changed. Read more...
I'm not buying any bank stocks at these levels. I don't own any at present. And if I did, I'd either sell them or at least hedge them.
But it's not that they're doing poorly. They're not.
Citigroup beat analysts' expectations and finished up yesterday - even though the Dow took a big tumble. Meanwhile, Wells Fargo and JPMorgan Chase didn't do badly last week, in terms of their earnings and profit numbers either.
Admittedly, if you're a "too-big-to-fail bank or a shareholder, it's been a good ride.
But here's why it's about to end...
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