I think all the meetings and delays are meant to prepare for a default. That's why they did QE in the first place. Honeywell's miss on the revenue side was unexpected. Cutting costs and buying back stock isn't growth. I don't expect much from the rest of the sector.
If they are going to follow JPM. Look at the chart of JPM over the last year. After JPM goes X Dividend, it drops considerably. JPM went X on 4/1/15.
The only problem with your statement is that you think China, Russia, India or Europe will be in better shape than the USA. Their economies are on more shaky ground and will probably fall just as far if not even more. It really comes down to who survives after the fall, not the fall itself. If Obama is still in office, we are screwed.
Yellen isn't going to raise rates. The statement is misleading. It's going to end badly. I wish I knew when.
At this price they can buy 250,000 shares a year. They have 10.5 billion shares outstanding. In 2008 when the price was around 52, they had 4.5 billion shares outstanding. Buybacks are a waste of time. Too many shares outstanding for even the buyback to boost the price. Management Sucks.
When they resubmit their plan by September, they can ask for whatever they want. My take is the settlement caused them to play with their models to make them appear better than they really were. After six months of cash flow they can just change their models back to what they were last year.
Moynihan being Chairman of the board, Chief Financial Officer and President I guess would have to fire himself. The settlement probably blew out all their numbers and the Fed is giving them the tentative approval so they can get their settlement and the bank gets 6 more months to fix their books. Everyone win except the shareholders. #$%$.