Steven D. Audino's Blog (2)

During the Chase investor day last week, Charlie Scharf (CEO of Retail Financial Services) made comments that were as good as I’ve heard in probably two years. Scharf suggested he can see the peak of home equity losses. That’s not all, Scharf also said he also sees a bottom forming in the California market. If I was just dreaming, please don’t wake me!











Scharf sounded more like a Chief Credit Officer than the head of retail banking. Scharf spent the majority of… Continue

When Vikram Pandit first took over as CEO at the end of 2007, many said he was the only person the company could find to take the job. During the review of fourth quarter earnings, Pandit said his “administration” had effectively inherited numerous troubles which were not of their doing. I think many would accept that, I do. Whether by choice or not, Mr Pandit is now trying to do what should have been a long time ago – he’s announced a liquidation sale, the supermarket is… Continue