Wikimedia CommonsIn a settlement reached late yesterday, J.P. Morgan Chase & Co. (NYSE: JPM) has agreed to return $546 million to investors of now-bankrupt MF Global. The settlement also brings another $600 million closer…
AdvisorShares has announced the launch of the Newfleet Multi-Sector Income ETF (NYSEMKT: MINC). The new fund is an actively managed exchange traded fund (ETF) that is said to be managed with a value-driven fixed…
Wikimedia CommonsJ.P. Morgan Chase & Co. (NYSE: JPM) suffered another blow to its reputation, as a government agency downgraded its rating of the financial firm’s management. What that means for the bank from a…
Fifth Third Bancorp (NASDAQ: FITB) is confirming last week’s news that the bank stress tests and the Federal Reserve’s Comprehensive Capital Analysis & Review is allowing for a higher bank dividend. The regional banking…
Wikimedia CommonsJ.P. Morgan Chase & Co. (NYSE: JPM) was a bank we already knew was effectively denied permission to raise its dividend. If you have tracked the stress tests and the return of capital…
ThinkstockThe government of Cyprus has drafted another plan to submit to the country’s parliament today that will exempt small savings account holders from the proposed raid on all deposits in the country’s banks. Under…
ThinkstockThe parliament in Cyprus may block the government’s attempt to seize money from the savings accounts of its citizens as a way to raise money to get access to bailout funds. If so, the…
Bank of America Corp. (NYSE: BAC) may have a more bold cheerleader in Dick Bove’s call that BofA’s common stock is still going back up to $30 in the next two or three years.…
ThinkstockThis morning we went on record calling the European proposal to make depositors face a Cyprus bailout tax on their bank deposits as being nothing short of theft. A levy, tax, fee, or any…
ThinkstockI already have gone on the record that the taxation of deposits in Cyprus is nothing short of theft. Regardless of a bloated banking system that was in shambles, taking depositors’ assets under this method…
wikicommons / SkimstaWhat we are seeing is in Cyprus an instance when taxation becomes theft. When depositors place money in banks, they assume that their deposits are safe as long as the banks do…
A panic over plans to levy taxes on deposits in Cyprus banks has pushed all global markets lower. According to MarketWatch: “The introduction of a levy on bank deposits — worth around €5.8 billion —…
ThinkstockThe U.S. Securities and Exchange Commission (SEC) said today that the CR Intrinsic unit of hedge fund SAC Capital has agreed to pay $600 million to settle insider trading charges brought by the SEC…
Brian Katt / Wikimedia Commons / GNU Free Documentation LicenseThe annual stress tests on the biggest U.S. banks produced a few surprises when the results were announced last night. The capital plans submitted by…
Wikimedia CommonsA Senate subcommittee has produced a 300 or so page document that says that J.P. Morgan Chase & Co. (NYSE: JPM) manipulated information about huge losses in its London trading operations and that…