Lawrence Cohn Quotations

has built a good junk-bond business, but they have no equity capacity whatsoever -- and they've got to get it. They know they have to get it, the question is, 'When and how?'

We frankly have given up on this stock, ... This is the second time around and we think it is going to take a long time for this stock to repair itself.

There were a bunch of rumors. One was that the bank had a lot of exposure, unspecified, to the California utility industry. The other one had to do with some kind of exposure to credits in Europe on the derivative side. As soon as I heard it, I thought it sounded like someone who was short and needed to cover and didn't want to get hurt. It was so weird and vague.

The earnings for the banking industry have generally been pretty good, ... We've had more pleasant surprises than we expected -- we anticipated a relatively dull quarter.