Banks Intend To Buckle Down In The Face of Credit Card Legislation
In the FED’s most recent bank survey they asked how the banks indented to deal with the Credit CARD Act of 2009. The Act meant to protect users from sudden interest rate spikes on…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 218Cisco Raising Cash By Selling Debt (CSCO)
Cisco Systems, Inc. (NASDAQ: CSCO) has filed a preliminary prospectus supplement under an existing shelf registration with the SEC this morning for a three-part debt offering. While no final amount was stated, and no…
AES Debate: China’s Infrastructure Grab (AES)
China is at it again buying key infrastructure access. AES Corp. (NYSE: AES) disclosed on Friday, along with earnings, that the company was raising significant cash. This is a capital raise which also may…
United Security Of Sparta Georgia Is 116th Bank Failure Of 2009
United Security Bank, Sparta, Georgia, was closed by the Georgia Department of Banking and Finance, which appointed the FDIC as receiver. The two branches of United Security Bank will reopen during their normal business…
Buffett & Berkshire Earn Dough (BRK-A, BRK-B, BNI, MCO)
Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-A) has just reported its Q3-2009 earnings ahead of the formal expectations. This will be perhaps one of the last similar earnings reports with a relative comparisons because…
Is Citi’s Primerica IPO For You (C, MS)
It has been some time in the making and won’t be the last IPO or divestiture out of Citigroup Inc. (NYSE: C). The company is proceeding to divest its Primerica Inc. via an initial…
GE No Rescue for Financial Junk Stocks (GE, FNM, FRE, AIG)
General Electric Co. (NYSE: GE) may be the one single bright spot taking the market higher this Friday when you consider the 10.2% unemployment rate and when you look over the latest round of…
US Guaranteed $4.5 Trillion In Financial Assets Creating Huge Taxpayer Risk
The Congressional Oversight Panel has issued its latest report on how the government’s huge bailout of the financial system is going. The most startling part of the document is that it describes the federal government’s $4.5…
Mozilo Can’t Dodge Fraud Charges
Angelo Mozilo, the former CEO of Countrywide Financial which was bought by Bank of America (NYSE:BAC), tried to get out of facing government fraud charges, US District Judge John Walter told Mozilo that he will…
Four Of Top Ten Private Equity Deals In Default, Or Worse
The private equity business has been unkind to the firms that have done the largest LBO deals of the last year. That only makes sense. Leverage has been beaten down by the recession. PE…
The Fed Asks Banks To Read Its Mind
Bankers from the nation’s 28 largest banks were called to regional Federal Reserve offices across the country today to get a message from the agency. That message was that they should not wait for…
Recently Completed SPAC Deals Tripped up by De-Listing Threats (TMI, WLBC, CNWHF)
SPACupdate.com provides daily reports and e-mails covering blank checks, their targets and relevant trading data. The team has provided 24/7 Wall Street with many examples of solid developments in special purpose acquisition companies, but…
CIT Highlights Risks in Junkier Financial Stocks (CIT, FNM, FRE, ABK, C, ETFC, AIG, PMI)
It is of little surprise that CIT Group, Inc. (NYSE: CIT) is seeing clobbered today. The company has finally filed its pre-packaged Chapter 11 bankruptcy package and that has CIT shares down a sharp…
Can Hyatt IPO Beat Current IPO Doldrums? (H, HOT, MAR)
Late Friday night, after a really poor market day, Hyatt Hotels issued an amended S-1 for its planned initial public offering. Because of last week’s market volatility, we are getting mixed signals about both…
CIT (CIT) Prepares Chapter 11
According to The Wall Street Journal, CIT (NYSE:CIT) will file for Chapter 11 today. Bondholders will probably provide $4.5 billion in financing for a prepackaged bankruptcy. Senior creditors will likely get $.70 on $1. Carl…