Citigroup (C): Why Sell Loans Someone Else Wants?
Citigroup (NYSE: C) seems to have come up with a deal to sell over $12 billion in problem corporate debt, some of it likely from LBO transactions. The buyers are the astute private equity…
Banking, finance, and taxes
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Newest first · Page 288Citigroup (C) To Dump Debt For 90% Of Face
Citigroup (NYSE: C) is near a deal to sell $12 billion of problem corporate debt to a group of private equity firms. According to The Wall Street Journal the firms include "Apollo Group, TPG…
Morgan Stanley (MS) CEO Clairvoyant As Usual
John Mack, who has run every investment bank on Wall St, and is now CEO of Morgan Stanley (MS) says the next few quarters will be tough for the financial markets. Mack believes the…
WaMu Gets Takeunder Financing From TPG (WM)
Washington Mutual (NYSE: WM) has outlined its details of a financial aid or rescue finance package. The company is raising a total of $7 Billion via direct stock sales to an investment vehicle managed…
Goldman Sachs Makes Key Financial Calls (BEN, JNS, NYX, NDAQ, MET, FII, NITE, OZM)
Goldman Sachs has issued a call on its asset manager universe, and says it’s time to go on the offensive. Its rating on the group is now attractive. The bulge bracket brokerage leader has…
Investment In Washington Mutual (WM) May Undercut Common Shareholders
Washington Mutual (WM) may get $5 billion in much-need capital. It is an example of how financial companies bet on subprime mortgages which cut their share prices by as much as 75% due to…
Moody’s Downgrades Countrywide (CFC): What About BAC?
Moody’s cut the credit rating of Countrywide (CFC) to "D" for default, over worries about liquidty. According to Reuters "The downgrade does not reflect Countrywide’s planned acquisition by Bank of America (BAC)." It does…
Breaking Up UBS (UBS)? The Most Complex Job In The World
Revenge is a dish best served cold. The former CEO of UBS (UBS), pushed out by the bank’s current chairman, has suggest that the huge financial firm be broken up. According to The Wall…
Fed Puts Spies At Brokerage Firms (GS)(MS)(BSC)(MER)(LEH)
The Fed does not want to see all the money it has give to brokerages in exchange for lousy paper to go down the toilet so it has stationed its own personnel in the…
Justice For Countrywide (CFC)?
A federal judge has approved an investigation into the lending practices of Countrywide (CFC). The mortgage company may have, among other things, charged borrowers large, unjustified fees. That was after they were given loans…
Concern About Bond Defaults Signal Financials Not Out Of The Woods
The bets that companies will default on their debts is rising. Financials which own junk bonds or have financed junk deals will be on the hook. One S&P executive told Bloomberg “The markets are…
New Mortgage REIT Vulture: Cypress Sharpridge Investments, Inc. (CYS)
Cypress Sharpridge Investments, Inc. (NYSE: CYS) has filed to come public in an effort to raise capital. The company will operate as a REIT and plans to invest all of its new capital exclusively…
Broadpoint Securities Registers Shares Tied To Recent Private Placement (BPSG, FACT)
Broadpoint Securities (NASDAQ: BPSS) has filed on behalf of stockholders a securities offering whereby an aggregate of 7.058 million shares of common stock for a total maximum price of $12.352 million. The independent boutique…
Another Bear Stearns Director Unloads Shares (BSC, JPM)
Another director of Bear Stearns Companies, Inc. (NYSE: BSC) has unloaded his holdings as the stock was trading north of a buyout price for some time. Paul A. Novelly, a director, has unloaded 125,000…
Blackstone Still Able To Close $10 Billion Funds (BX)
There was an interesting communication from The Blackstone Group, L.P. (NYSE: BX) this morning and the company issued a press release confirming that data. Blackstone announced the closing of Blackstone Real Estate Partners VI. …