Sometimes there is just lunacy written about financial companies, and sometimes there is lunacy inside of financial companies. Forget about the argument that there are usually both for a minute. Yesterday we covered an…
The large money center banks never planned to take the money they are getting from the government to make loans. The equity investments will be used to shore up capital, which is now old…
If you have followed the old broken and then re-engaged private equity buyout of Huntsman Corporation (NYSE: HUN), then you might feel like you witnessed a "private equity meets the credit crunch and the…
This is one of the first rounds of the regional banks formally getting in line and formally receiving approval to participate in the $700 billion government TARP bailout package. Prior to this it had…
Citigroup (C) is not going to make it, at least not an an independent company. The FT has reported that the head of Goldman Sachs (GS) called Citigroup CEO Vikram Pandit to discuss a…
Chimera Investment Corporation (NYSE: CIM) has raised cash via a secondary offering. The mortgage and fixed income investment vehicle, which we have referred to as the first public vulture fund set up to capitalize…
NCC (NCC) was bought today by PNC in what most people would view as a classic "takeunder" The price of the deal was well below where the shares traded yesterday. NCC’s stock is down…
Today is one ugly day for financial stocks, and probably one of the crummiest days so far that you could pick to announce a merger. Yet hold on to your seats. PNC Financial Services…
This is obviously one of our ugliest mornings in years with futures trading limit down. What is interesting is that the financial stocks are the most leveraged to this, yet oddly enough most stocks…
We wanted to give you a brief snapshot of how futures work in "limit down" mode pre-market and then give you a quick hit on how the actual stock market circuit breakers work. Today…
There is an “official” government bailout number. That is the $700 billion Congress gave to Henry Paulson to hand out as he pleases. Most of it will go into buying equity in banks and…
The media is reporting that Goldman Sachs (GS) will cut 10% of its workforce, or about 3,000 people. Since the firm has been at the summit of its industry for decades, the move says…
How many people in the US have credit cards? The answer might be misleading. Some of the unusually reckless have three, four, or five cards. They use the money available from one to pay…
MetroCorp Bancshares, Inc. (NASDAQ: MCBI) has filed a mixed shelf securities offering that will allow the company to sell up to $100 million in securities. The securities are listed as any combination of debt…
Knight Capital Group Inc. (NASDAQ: NITE) is doing what other trading shops aren’t: it is winning in uncertain times. The trading and brokerage firm posted earnings of $0.40 on revenues of $269.9 million, while…