Banking stocks lead markets surge

chucky

lostinrates wrote: »

Sort of, the government, being, actually, us, our balance book. All that debt seems less 'happy news' when its accepted its our debt now!

look at it this way - the tax payer has taken assets from the banks; charged a nice fee and a rate of interest for doing this.

people may moan but its was probably the only option in that if these banks went bust - we would be living in a worse place and probably unable to use an ATM or even access our cash in the bank for example

that's not spin but fact.

lostinrates wrote: »

The good news I can get behind would be: Citi start to show recovery, with investorers getting behind it and share prices rising.

these banks were still making money last year - the write downs were the loss making peice of their trading profit. these write downs will probably be one days profit.

without seeing the balance sheets - these banks probably have more assets than their market capitalisation. this alone is a buy sign for most investors, however the problem with the bank shares is the risk involved and the reduced yield due to the government ownership.

it's just how you recognise and interpret the facts

lostinrates

chucky wrote: »

it's just how you recognise and interpret the facts

sure, and of course which facts, or indicators, you have available to you

chucky

lostinrates wrote: »

sure, and of course which facts, or indicators, you have available to you

very true - that's why some people pay £15k for Bloomberg terminals in their offices

purch

in their offices

I prefer to call it 'the Stable Block' ..........

chucky

pizzagirl wrote: »

I don't get it, the trend for the ftse is down, way down, I think. Didn't it go down 10 per cent last week or something? Please find something of substance to feel optimistic about and not this.

it looks like stories like this are not going to please everyone

http://www.reuters.com/article/businessNews/idUSTRE52B5DP20090312
[SIZE=-1]Lewis joined Citigroup Inc's (C.N) Vikram Pandit and JPMorgan Chase & Co's (JPM.N) Jamie Dimon among CEOs to say their banks were in the black this year.

[/SIZE]

StevieJ

I flagged this January 21st,
JP Morgan boss just lashed out 11.5 million $ on company stock, maybe we are reaching a turning point.

From your article
Lewis joined Citigroup Inc's (C.N) Vikram Pandit and JPMorgan Chase & Co's (JPM.N) Jamie Dimon among CEOs to say their banks were in the black this year.

Easy money isn't it? who needs bonuses

Thrugelmir

Graham_Devon wrote: »

It's weird. The US only today are preparing contigency plans for citigroup.

It was last month the US government took 36% of the bank (or rather, took further shares, now worth 36% of it).

They converted preferred shares into common stock, whatever that means. So I guess the profits are true on paper, disregarding help.

CitiGroup has been split into 2 halves. In effect the good and bad. So hardly surprising that the good part is profitable.