Margin Debt Soars To New Record; Investor Net Worth Hits Record Low

The correlation between stock prices and margin debt continues to rise (to new records of exuberant "Fed's got our backs" hope) as NYSE member margin balances surge to new record highs. Relative to the NYSE Composite, this is the most &qu… [...]

DOJ Announces $13 Billion "Largest Ever" Settlement With JP Morgan

To the DOJ, a $13 billion receipt is the “largest ever settlement with a single entity.” To #AskJPM, a $13 billion outlay is a 100%+ IRR. And perhaps more relevant, let’s recall that JPM holds $550 billion in Fed excess reserves, on which it is paid 0…. [...]

Q3 Earnings Roundup: Banks, Non-Banks and the FOMC

The big news from the Q3 2013 earnings announcements so far is that the mainstream financial media has discovered non-bank financials.  The non-bank sector has been growing fast, this as the traditional financials comprised of depositories and bro… [...]

Q3 2013 Earnings\Financials: The Party is Over

“The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis.” Benjamin Bernanke   It’s once again earnings season and a great deal of attention will be focused on financials. Over the … [...]

Mortgage Market Slump: Is it Interest Rates or Jobs and Consumer Income?

Over the past week, most of the major banks in the mortgage sector have been issuing guidance to investors regarding the outlook for mortgage lending volumes going forward in 2014 and beyond.  For the past several months, I have been worried about… [...]

Uncle Sam Comes Callin’, Asks Jamie Dimon For Another $6 Billion

The US is demanding a sum of $6 billion – the total loss associated with the “London Whale” debacle – in compensation for JPMorgan’s mis-selling of mortgage-backed-securities. The FT reports that, unsurprisingly, the bank is resisting the payment, whic… [...]

Bill Black On The DoJ’s Seven Biggest ‘Fails’ In The BofA Lawsuit

Submitted by William Black via, The Department of Justice’s (DOJ) latest civil suit against Bank of America (B of A) is an embarrassment of tragic proportions on multiple dimensions. I'm "only" going to explore seven of… [...]

Stock Market Bubbles And Record Margin Debt: A (Repeating) History Of Ignoring All Warnings

It is well-known that as part of the S&P500′s ascent to new records, investor margin debt has also surged to all time highs, surpassing for the past three months previous records set during both prior, the dot com and the housing, stock market bubb… [...]

Major Chinese Banks Stop Lending

Follow ZeroHedge in Real time on FinancialJuice It was bound to happen some might say. We were warned! Chinese banks have stopped lending due to pressure from liquidity deposits. Some branches of the Bank of China and the Industrial and Comme… [...]

Frontrunning: June 12

Pimco Sees 60% Chance of Global Recession in Five Years (BBG) Global Tumult Grips Markets (WSJ) NSA Secrecy Prompts a Pushback (WSJ) ANA Scraps 787 Dreamliner Flight as Engine Fails to Start (BBG) – one of these days, though, it shall fly Kuroda’s A… [...]