Word is that the Obama administration is worried about
Like that's such a big secret. How many billions have been poured into
Bank of America
, etc, etc, etc?
The concern, apparently is that investors may bail on the banks that get a bad report.
Like that hasn't happened already? Citigroup trades at $4 and less than a year ago it was worth $27 a share. Bank of America shares are fetching $10 compared with a high of $41 for the past 52 weeks.
Meanwhile, other banking shares are holding onto more value.
is above $18 compared with a high of $45 in the past year. Goldman Sachsis only at about half its 52-week high at $115.
is a bit above the halfway mark, trading at $30 vs a peak of $51 in the past 52 weeks.
So investor's have clearly already ranked the banks.
As the banks report earnings - we've already seen net profits from Wells Fargo and Goldman Sachs - investors will get a pretty clear picture of which banks aren't healthy. And it's pretty easy to dissect recent performance to predict how the banks will stack up against each other in the top-secret Obama health report card.
TheStreet.com's ace banking analyst Philip van Doorn did the legwork with his own version of the "stress test" being applied by the Obama administration. For those who want to get a pretty good idea of what the Obama stress test will reveal, here are Phil's analysis pieces:
So Obama can stop worrying about whether investors will be spooked by his report card on banks.
The secret's already out.
Hall is the editor of
. Previously, he served as deputy editor and chief innovation officer at
The Orange County Register
and as a news manager at
in Frankfurt, Amsterdam and Washington, D.C. As a reporter, he covered business and financial markets, worked in both print and television in the U.S. and Europe, and conducted in-depth investigative coverage at
in Fort Wayne, Ind. His work also has been published in a variety of newspapers including
The Wall Street Journal
The New York Times
International Herald Tribune
. Hall received a bachelor�s degree in journalism and political science from The Ohio State University and has taken graduate management science courses at Boston University.