Sunday, October 14, 2007

Ugly Q3 reports from Financial companies?

As the credit turmoil continues, it may be possible that we have only seen the tip of the iceberg. It would be very interesting to watch the Q3 reports from the various banks. Many of these banks would surely love to write down as many bad loans as possible. This is their best opportunity to come clean. Citi has already reported that the mortgage mess will cost them a whopping 60% of their earnings in Q3.
Earnings:
Citigroup - Oct15, before market open.
JP Morgan - Oct 17, before market opem
Bank of America- Oct 18, time not supplied

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