Q4 EARNINGS HIT = $1 A SHARE FROM SETTLEMENT??? THINK THAT'S ABOUT RIGHT
If they don't want to tell us we have to guess. I guess their cash settlement share is $500 million, or $1 / share hit to Q4 earnings.
Getting really sick of this bank. All this "cost cutting". Then they go out and raise $500mm in a preferred offering and put up another capital raise on Monday probably for another $500mm. This follows selling all the Coke stock and losing all that divi revenue.
Wonder how they will explain this expense...they said so many times how they were done with legacy mortgage expenses after the $375mm provision in Q3.
I have no idea why they need to raise all this capital but it can't be good.