The Institutional Risk Analyst

The good news is that Webster is not a bad bank and SAN is not overpaying, although the low level of capital and reserves may represent be a significant expense for SAN in the near term. We kind of liked the fact that SAN’s management team had avoided another bank acquisition and instead focused on consumer finance...

When you see a bank with more than 10% of total assets in MBS, that's a big red flag in our book.

The Fed by definition cannot make a profit and is always an expense to the Treasury, thus operating losses are a expense to the taxpayer

We think the chart below from FRED is worth any amount of words on the impact of QE on equity market valuations.