Examining The Torture Of Ken Lewis
The House Oversight Committee has subpoenaed the Fed to get information relating to the Bank of America (BAC) buyout of Merrill Lynch. Ken Lewis, the bank’s CEO, claims that former Treasury Secretary Henry Paulson…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 233Liquidating Chrysler Was An Option
The government was successful when it warned that if the Supreme Court delayed the Chapter 11 process of Chrysler more than a few days, the No.3 US car company might be forced into liquidation.…
Another Hedge Fund ETF Launches (MCRO, QAI)
NYSE Euronext has begun trading the IQ Hedge Macro Tracker ETF (NYSE: MCRO), sponsored by IndexIQ Advisors LLC. This marks the second product by IndexIQ Advisors to list on NYSE Arca after its IQ…
Getting Out From Under the TARP (AXP, BK, BBT, COF, GS, JPM, STT, USB)
The Treasury is finally allowing some of the TARP recipient banks that posed the least systematic risk to begin repaying the Treasury’s preferred stock funds. This will get these institutions out from under as…
Stressing The “Stress Test” System
Maybe the initial “stress tests” of America’s 19 largest banks were flawed. Or, perhaps taking a single snapshot is not an adequate way to measure the ever-changing financial system. The Congressional Oversight Panel which monitors…
Treasury Gets Its Money Back And Can Afford To Save Another Industry
The Treasury Department is likely to allow 10 banks which owe in money from TARP funds to pay it back a total of $50 billion. The money will probably burn a hole in the…
Chrysler Will Not Be The Administration’s Last Trip To The Supreme Court
Justice Ruth Bader Ginsberg reviewed a lawsuit by several Indiana pension funds to block the sale of some Chrysler assets to a group led by Fiat and indicated that there was some chance the…
Cramer’s SLM Double, Actually A Triple Or More (SLM)
Jim Cramer is loved and hated by many on both sides, but despite the hype he makes and gets accused of he rarely calls for a stock to double. That is what we just…
Will All Of The Top Management On Wall St. Work For $1 A Year?
The Administration is looking at further pay caps for executives on Wall St. and the auto industry. The reasoning is that if a company takes government money, the government should have a say in…
Bank Of America (BAC) Makes The Government Happy, Adds New Directors
In a sign that the federal government is the puppet master of several of America’s largest banks, Bank of America (BAC) has appointed four new directors with extensive bank management backgrounds. They include Donald…
First Community Bancshares, A Bad Secondary Pricing That Isn’t So Bad (FCBC)
First Community Bancshares, Inc. (NASDAQ: FCBC) looks as though it gave away the store in a secondary offering pricing, but when you look at the dilution it is actually not as bad as it…
FDIC Ready To Undermine Citigroup’s (C) New Board
The Fed and the Treasury have put pressure on Citigroup (C) to create a new board of directors. Richard Parsons, the bank’s chairman, is well on his way to doing that. The hopes are…
Angelo Mozilo Charged With Insider Trading (BAC)
CNBC’s David Faber just reported that the SEC will be charging former Countrywide CEO Angelo Mozilo with insider trading and disclosure violations for stock sales from 2006 and beyond. Interestingly enough, Faber noted that…
Regulating Risk Is Risky Business
“Certainly do not give a systemic regulator the job of determining when the next financial crisis will hit,” Alan Greenspan said in a speech at the American Enterprise Institute. The federal government does not appear to…
Unemployment May Not Turn A Corner
The ADP number for jobs lost last month was 532,000. It was better than any month since November but worse than what many analysts had expected. Economists predict the unemployment figures from the government,…