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FAS 157

How (not) to design a stress test

April 25, 2009

Of course the big news of Friday afternoon was the preliminary release of the metrics used in the bank stress tests.  Unfortunately it didn't turn out to be much news at all; few hard figures were revealed and those that were came largely within expectations.  The NYTimes published an excellent copy of the document right […]

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Batter up: WFC

April 22, 2009

The newest sideshow in the circus that is the banks' 1Q earnings is Wells Fargo, who most recently was spotted igniting a strong rally with the early announcement that earnings would not only beat the expected number of $0.39/share, but knock it out of the park, guiding expectations to $0.55/share. Today the number came in right […]

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