The Institutional Risk Analyst

Most major banks grew larger during quantitative easing. Now many of these banks will shrink in terms of assets and also earnings in Q1 2023

At the Fed, because “confidence” is considered a factor in “policy,” it is OK to fib and obfuscate about the true cost of monetary policy.

We liked the NYCB + Flagstar story prior to the transaction with the FDIC for the assets and deposits of Signature Bank.

Treasury Secretary Janet Yellen and Fed Chairman Jerome Powell are another bank failure or two away from returning to the private sector.

Mark Twain called Washington ''the grand old benevolent National Asylum for the Helpless'' in his classic "The Gilded Age."

We recently added Western Alliance (WAL) and GHLD to our portfolio

By any reasonable standard, Janet Yellen should have already resigned, but not in the strange world of Washington.

Last week not a single member of the Big Media managed to ask Fed Chairman Jerome Powell about the state of the US banking system

Are nonbank mortgage firms a risk to Ginnie Mae? Or is it really the other way around?

GS is a securities dealer first and foremost and has no comparative advantage as a bank.

The Federal Open Market Committee has arguably lost control of monetary policy and has placed America's banks in grave risk.

Fact is, Dr. Brainard has primary culpability in the growing economic pain being felt around the country.

CEO Patrick Collison is guiding investors and the media to a $200 million profit in 2023. Selective disclosure??

As the FOMC moves short-term rates towards 6%, we expect to take another run at double-digit rates for prime residential mortgage loans.

Our view is that the BKI purchase is a horrible deal for ICE shareholders, a value killer of epic proportions

We suspect that the IMBs will be sellers of conventional assets to defend their Ginnie Mae MSRs. Banks may be buyers of conventional assets

The risk-adjusted return on capital for BK is negative and probably lower than Goldman, the highest risk large US bank

The big take away from Q4 2022 earnings is that credit expenses are headed higher and at a brisk pace

Ally is still more finance company than bank and really has no core deposit base worthy of the name.

Crypto, of course, is not an asset as much as a bad idea that was given life by Quantitative Easing