Contents
Executive summary ............................................................................ 3
Initiating sector coverage - Underweight........................................... 4
The root of all evil - Excessive risk ..................................................... 8
Sins reflect areas of greater risk-taking ........................................... 12
Loan losses....................................................................................... 27
Company profiles
Bank of America.......................41 KeyCorp................................79
BB&T Corp...............................47 PNC Financial.........................87
Citigroup .................................51 SunTrust Banks......................93
Comerica Inc ...........................59 US Bancorp ...........................99
Fifth Third Bancorp ...................65 Wells Fargo .........................105
JPMorgan Chase.......................71