{"id":27771,"date":"2011-08-11T16:26:25","date_gmt":"2011-08-11T16:26:25","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/bloomberg_jonathan_weil_is_there_enough_money_to_save_the_banks\/"},"modified":"2011-08-11T16:26:25","modified_gmt":"2011-08-11T16:26:25","slug":"bloomberg_jonathan_weil_is_there_enough_money_to_save_the_banks","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=27771","title":{"rendered":"(Bloomberg) Jonathan Weil: Is There Enough Money to Save the Banks?"},"content":{"rendered":"<p>Bank of America would have us believe the goodwill by itself was more valuable than what the market says the entire company is now worth. Investors don\u2019t buy that. They see a company that needs to raise fresh capital, judging by the discount to book value, in spite of the company\u2019s claims it doesn\u2019t need to. The more the stock price falls, the more shares Bank of America would need to issue to appease the markets, leading to fears of even more share dilution.<\/p>\n<p>The same story is playing out in Europe, driven by the sovereign-debt crisis. The 32 companies in the Euro Stoxx Banks Index yesterday had a stock-market value of 313.2 billion euros ($444 billion) and a combined book value of 620.5 billion euros. France\u2019s Credit Agricole SA (ACA), the index\u2019s third-largest bank by assets, trades for just 34 percent of book.<\/p>\n<p><a href=\"http:\/\/www.bloomberg.com\/news\/2011-08-11\/is-there-enough-money-to-save-world-s-banks-commentary-by-jonathan-weil.html\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bank of America would have us believe the goodwill by itself was more valuable than what the market says the entire company is now worth. Investors don\u2019t buy that. They see a company that needs to raise fresh capital, judging<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=27771\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,50,460,582,589,595,592,149,591,200,590,671,599,585,596,584],"tags":[],"class_list":["post-27771","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-international-news-commentary","category-european-sovereign-debt-crisis-of-2010","category-consumerconsumer-spending","category-corporationscorporate-life","category-credit-markets","category-currency-markets","category-economy","category-euro","category-europe","category-european-central-bank","category-federal-reserve","category-stock-market","category-the-banking-systemsector","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007","category-the-u-s-government"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/27771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27771"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/27771\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}