Citigroup (C) Shares Give It All Back
Maybe Wall St. is not so in love with the Treasury’s plan to buy toxic assets after all. Citigroup (C) is trading at $2.86 this morning, which is where it changed hands last Friday.…
Banking, finance, and taxes
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Newest first · Page 244Hedge Fund Withdrawals May Hit New Record
If the economy is going to keep getting worse, why shouldn’t hedge funds, where managers can make millions of dollars a year, share in the suffering? It actually looks like they may. According tothe…
Goldman Sachs (GS) May Take Chinese Money To Pay Back TARP Money
Chinese capital usually makes it way to the US Treasury when the communist central government buys American debt. It is the most direct route, but clearly not the only one. According to The Wall…
Treasury’s Toxic Asset Plan Still Leaves Many Questions
Timothy Geithner’s plan from the Treasury to get rid of toxic assets from banks and financial institutions’ balance sheets is out. What is certain here in the plan is that there are still many…
Treasury Plan For Buying Toxic Assets Is Complex Beyond Belief
If The Wall Street Journal’s description of the Treasury’s plan to get toxic assets off of bank balance sheets is correct, it may be the most complex set of programs in the history of…
Wholesale Credit Unions Seized
Two very large wholesale credit unions were taken over by the government, extending the scope and expense of the bailing out of the US financial system. It is another example of the number of…
Bernanke Keeps Challenging ‘Too Big to Fail’ Notions
Fed Chairman Ben Bernanke has been out in his last three or four speeches now trying to address the “too big to fail” issue. What is interesting is that he is now ringing the…
Simon’s Dilution Takes Away Some Debt Worries (SPG)
Simon Property Group, Inc. (NYSE: SPG) priced a secondary share offering of 15 million shares at $31.50/share. Simon also made a concurrent offer of approximately $500 million worth of 10-year senior notes. Proceeds should…
Fear And Loathing In The Commercial Real Estate Industry
In most large American cities there are office buildings which sit half finished in their financial districts. There are still huge cranes next to some of them. If the construction on a site ended…
Barrick Raises Cash (ABX)
If you thought the corporate bond market spreads were going to keep issuers away, there has been a record amount of new issuances. Today, Barrick Gold Corporation (NYSE: ABX) announced plans to sell some…
Alcoa Prices Offerings (AA)
Alcoa Inc. (NYSE:AA) has priced its offering of 150 million shares of common stock at $5.25/share. That represents a discount of about 23% to yesterday’s closing price of $5.48/share. At the same time, Alcoa…
Citi Plans Reverse Split & Share Conversions (C)
If you thought things were going to get quiet at Citigroup, Inc. (NYSE: C) after the 200% run up of late, they aren’t if this morning’s news comes to fruition. The company has issued…
Citigroup (C) Becomes The Best Bank In The World Overnight
Citigroup (C) shares are going up every day now, gaining 23% yesterday. So far, the stock has gone from a low of $.97 to $3.20 in just a few weeks. The reason Citi stock…
FOMC Massively Gooses Gov’t. Balance Sheet
The FOMC has come in with no rate change as we had expected. When it is already at a near-zero rate policy, there was no other outcome. The Fed Funds Target Rate was left…
Can B of A Really Pay the TARP Back That Fast? (BAC, C)
Bank of America Corp. (NYSE: BAC) is now claiming it could pay back the TARP monies late in 2009 or in 2010, earlier than expected. In a report from the Charlotte Observer, CEO Ken…