Even With Fed Rescue Plan, Major Financials Sell Down (UBS)(FNM)(WM)(WB)(FRE)
Fannie Mae (FNM) and Freddie Mac (FRE) opened well up today. FRE hit a high of $9.80 up from a $7.75 close on Friday. Now, it is only up a little over 5%. The…
Banking, finance, and taxes
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Newest first · Page 278Could Your Bank Be Closed By The Feds? (C)(IMB)(BAC)(NCC)
The most important financial lifeline for most small businesses and consumers is their bank. More often than not these banks are regional or local. They are easier to approach and tend to give better…
Fannie Mae (FNM), Freddie Mac (FRE), And Bear Strearns: Who Decides Who Lives And Who Dies?
The federal government has decided that Fannie Mae (FNM) and Freddie Mac (FRE) are too big to fail. The Fed and Treasury will offer a combination of loans and stock purchases to make sure…
US May Put $15 Billion Into Fannie Mae (FNM) And Freddie Mac (FRE)
In an attempt to save Fannie Mae (FNM) and Freddie Mac (FRE) from becoming insolvent, the US Treasury is reviewing a plan to put $15 billion in new capital into the companies. According to…
Fed Offers Fannie Mae (FNM) And Freddie Mac (FRE) Help, Investors Don’t Care
The Fed offered to open it emergency discount window to Fannie Mae (FNM) and Freddie Mac (FRE) to offer them the money they may need to remain solvent. Investors were not convinced. Perhaps they…
Is Lehman The Next Bear Stearns? (LEH, JPM)
The financial services sector has gone from horrible to somewhat stabilizing and back to horrible and then looking even worse. When you think of an old mantra that "Failure isn’t an option" that just…
Citigroup (C) Sells German Unit: The Dismantling Of Sandy Weill’s Mansion
Shareholders at Citigroup (C) have been begging new management to auction off as much of the bank as the new CEO can find. They reckon that is the only way to get the share…
A Government Bail-Out Of Fannie Mae (FNM) And Freddie Mac (FRE): Shareholders Get Nothing
It has started to look like a pattern. A financial company gets in trouble. It stocks falls. The shareholders take a haircut. Sometimes that haircut is 60% and sometimes the stockholders end up bald.…
Fannie Mae & Freddie Mac: Do GSE’s Fail? Or Merge? (FNM, FRE)
The financial sector is reeling yet again over woes from GSE’s. In fact, there are now many traders betting that one or both are effectively worthless for common holders. Both Fannie Mae (NYSE: FNM)…
Wachovia (WB) Names CEO, Still In Deep Trouble
Wachovia (WB) named a former Treasury official as its CEO. Robert Steel most recently served as undersecretary for domestic finance for the U.S. Department of the Treasury according to Reuters. He has also been…
Fannie Mae (FNM) And Freddie Mac (FRE): Who Makes The Rules?
Rules are made to be broken, or, at least altered when necessary. Shares in Freddie Mac (FRE) and Fannie Mae (FNM) hit multi-year lows yesterday, falling, at one point, almost 20%. The drop was…
Citigroup (C): Another $8 Billion In Write-Offs
Citigroup (C) may be facing another $8 billion in write-downs in the second quarter. It may also cut 18,000 people soon and have to raise more capital. According to The Times, "Although Citi has…
Europe Banks Head Back To The Trough (C)(BAC)(WB)(MER)(LEH)
Europe’s banks need to head back out on the fund-raising circuit. They may have to bring in as much as $141 billion, according to Goldman Sachs. Reuters writes that this capital will be necessary…
Penn Actually Wins In Merger Implosion (PENN, FIG)
Penn National Gaming Inc. (NASDAQ: PENN) has been considered a dead merger for quite some time, yet it only officially became a dead merger this morning. This was the last of the big multi-billion…
OneBeacon, White Mountain Files Shelf Registration (OB, WTM)
OneBeacon Insurance Group (NYSE: OB) isn’t a household name. But today it filed for a $1 Billion mixed securities shelf registration. With a $1.67 Billion market cap, this may get attention even for a…