Tag Archives: Banks

Financial Daily Dose 7.15.2020 | Top Story: America’s Biggest Banks Setting Aside Tens of Billions for Anticipated Loan Losses

BY: Michael D. Reif | July 15, 2020

The latest quarterly reporting shows that America’s biggest banks—among them, JPMorgan, Citigroup, and Wells Fargo—are taking self-imposed hits now in anticipation of a “wave of loan losses” later. Those three are collectively stockpiling “$28 billion to cover losses as consumers and businesses start to default on their loans” – WSJ and Bloomberg and NYTimes Automakers … Continue reading

Financial Daily Dose 3.17.2020 | Top Story: The Bear Market Roars, with Markets Falling nearly 13% as Whole Sectors of US Economy Shut Down

BY: Michael D. Reif | March 17, 2020

As Americans [way-too] slowly come to the realization that COVID-19 is a very real and very present threat, the business world is changing around them at a staggering pace. Stocks nosedived again on Monday, with the three major indices in the U.S. charting a drop of between 12-13% in the worst single day since markets … Continue reading