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[REPORT] Chinese Banks "Are Heading Toward Global Domination"

By , Associate Editor, Money Morning • @TaraKateClarke -

china bank

Beating up on China has become a national sport for Western commentators. Their economy is slowing, they lie about their statistics, and their "growth" is being propped up to meet political objectives, goes the chorus.

The truth is, some of the China concerns are overblown. The country's economy has nearly doubled in size from six years ago. Even at a lower growth rate, China remains a key driver of global consumption and production.

And other impressive data swirling around are largely ignored.

For instance, the obscene growth of Chinese banks.

Just look at these numbers Richard Bove, equity research analyst at Rafferty Capital Markets, recently reported that confirm Chinese banks now absolutely eclipse their U.S. rivals...

Pass on JPMorgan (NYSE: JPM) Stock and Buy This Big Bank Play Instead

By , Associate Editor, Money Morning • @JimBach22 -

NYSE: JPM

JPMorgan Chase & Co. (NYSE: JPM) stock seemingly continues to establish all-time highs with each new trading session.

It's one of the largest investment banks in the world, sitting on $2.6 trillion in assets. It navigated the financial crisis better than any other firm on Wall Street.

But here's why if you buy it now, you may miss this more profitable opportunity in banking...

America Has Become a "Banana Republic Run by Wall Street Criminals"

By , Associate Editor, Money Morning • @TaraKateClarke -

wall street criminals

Wall Street criminals just won't stop misbehaving.
The latest crime was exposed Wednesday. Five of the biggest names in global finance agreed to pay billions to settle lawsuits alleging they illegally gamed the $5 trillion-a-day foreign exchange market.
"America has become a banana republic run by Wall Street criminals," Money Morning Capital Wave Strategist Shah Gilani said on Wednesday.

Of course, history dictates the fines will have no actual effect on business practices. Not including this week’s, just look at the litany of settlements too-big-to-fail banks have shelled out in the last five years alone…

How Much the Banks Were Fined This Week - BCS, C, JPM, RBS, UBS, BAC

By , Associate Editor, Money Morning • @KyleAndersonMM -

Banks Owe

On Wednesday, five of the world's biggest banks pled guilty to manipulating foreign currency rates for their own benefits. They will now pay a combined $5.6 billion in penalties.

With this week's settlements, big banks have now paid more than $60 billion in fines over the past two years.

This chart shows how much the banks were fined this week.

166 Trillion Reasons Why Bank Stocks Are So Cheap

By , Global Credit Strategist, Money Morning • @MichaelELewitt -

My continuing search for sectors of the stock market that are trading cheaply and offer the potential for gain has led me to a controversial slice of the market: bank stocks.

Looking at the "Big Four" in the U.S. banking sector, it's easy to conclude that the sector is undervalued...

But that conclusion may be a bit misleading.

Make no mistake - by traditional measures banks look cheap, and their stocks could do fine until the next financial crisis.

But that's the problem. Looking at banks that way ignores the elephant on their balance sheets, and the potential damage to our portfolios.

Here's what's really driving this critical economic sector into a "buyer beware" investment category...

JPM Stock Price Hit by Earnings Miss - but Bigger Troubles Ahead

By , Associate Editor, Money Morning • @JimBach22 -

JPM stock price

The JPMorgan Chase & Co. (NYSE: JPM) stock price faltered more than 4% on this morning on an earnings miss.

JPMorgan was hit hard by legal fees. The bank, along with several other big banks across the globe, had to cough up just over $1 billion. Most of that stems from a November settlement tied to shady activity in the foreign exchange market. But legal fees are nothing new.

JPMorgan is facing much bigger problems than the routine settlements...

JPMorgan (NYSE: JPM) Is the Latest Target on Goldman Sachs' "Hit List"

By , Chief Investment Strategist, Money Morning • @ShahGilani_TW -

NYSE: JPM

JP Morgan (NYSE: JPM) is about to become Goldman Sachs' newest toy. Except its version of "playing" is "smashing it into pieces."

That's right, Goldman Sachs has joined a bandwagon of analysts calling for JP Morgan Chase to break up. And since Goldman Sachs is simply the best at what it does - good and evil - their mission shouldn't be too hard.

Read More…

Science Proves What We Said About the Banksters

By , Chief Investment Strategist, Money Morning • @ShahGilani_TW -

"Business culture in the banking industry is favoring, or at least tolerating, fraudulent or unethical behaviors."

That's what Ernst Fehr told reporters in a telephone interview last week.

Fehr is an economist at the University of Zürich in Switzerland who co-led a study about business behavior.

Fehr's study proves what we've all long known - but it wasn't the only piece of news last week that demonstrates the crookedness of bankers.

Today I'll show you how Wall Street's manipulations are affecting the prices we pay for everything from the cars we drive to our pots and pans.

So you know you want to know more about this...

Stock Market Today: NFLX, GM, XOM Making Headlines

By , Executive Producer, Money Morning -

Investors seem confident that the economy is picking up as warmer weather takes hold...

But problems continue within the housing sector, where sales and construction forecasts were recently slashed by Freddie Mac and Fannie Mae. Existing home sales are expected to remain flat when they are reported this morning.

Here are the five stories you need to know to make your Tuesday profitable.