Fed Attacked By Brokerage Vampires
The Fed did open the door for brokers to borrow money because the agency was worried Wall St. would need the cash. But, the situation is getting out of hand and brokerages are bleeding…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 290Jimmy Cayne Unloads All Bear Stearns Stock (BSC, JPM)
Bear Stearns Companies Inc. (NYSE: BSC) has an SEC filing out showing that Chairman James "Jimmy" Cayne sold shares the day after JPMorgan Chase (NYSE: JPM) sweetened its bid offering to $10.00. On March…
GE Sells Corporate Payment Services Unit to American Express (GE, AXP)
American Express Co. (NYSE: AXP) and GE Money, part of General Electric (NYSE: GE), have announced that American Express will purchase Corporate Payment Services, GE’s commercial card and corporate purchasing business unit. This unit…
Platinum’s Buyout of Covad Set To Close (DVW)
As we have been expecting, Covad Communications Group Inc., (AMEX:DVW) announced that it has obtained all of the required regulatory approvals for it to be acquired by an affiliate of private equity firm Platinum…
Did Oppenheimer Bank Cuts Signal The Bottom Is Near? (C, BAC, WB, JPM)
Oppenheimer’s Meredith Whitney is currently the most followed bank and financial firm analysts on Wall Street. We don’t normally like to review analyst calls that are not fresh calls from the same day, but…
Financial Write-Downs May Just Be Starting (C)(BSC)(JPM)
Goldman Sachs says that write-downs for subprime mortgage paper, LBOs, credit cards,and other bad paper could hit banks and brokerages for $460 billion. That is almost three times the write-offs taken by financial firms…
MoneyGram Recapitalizes.. What’s Left? (MGI, GS)
MoneyGram International, Inc. (NYSE: MGI) has completed its recapitalization that was led by affiliates of Thomas H. Lee Partners and Goldman Sachs (NYSE: GS). Here is a breakdown of how the financing pact looked:…
Goldman Sachs SPAC IPO: Liberty Lane Acquisition Corp. (GS, MFW, LKQX, TMO)
Liberty Lane Acquisition Corp., another special purpose acquisition company, or SPAC, has filed to come public via an initial public offering of $350 million in units. Each unit will come with one share and…
Gleaming Into Fortress’ Earnings (FIG)
Tuesday morning we’ll get to see earnings out of Fortress Investment Group LLC (NYSE: FIG). After close to a year of being public and as the public is scrutinizing anything not vanilla, this is…
A 95% Off Sale At Big Banks (JPM)(UBS)
For reasons that are not entirely clear, JP Morgan (NYSE: JPM) filed detailed information on the valuations of securities held by itself and other banks with a court in Canada. According to the FT…
Letter From SEC Chairman Says Bear Stearns (BSC) Could Have Weathered Storm
In what is likely to be a bit of a blockbuster, SEC charman Christopher Cox sent a letter to Swiss regulators indicating the Bear Stearns (NYSE:BSC) did not have to go the way of…
How Much Higher Will Bear Stearns Ultimately Fetch? (BSC, JPM)
The last 5 to 10 trading days have been dominated by Bear Stearns (NYSE: BSC). Whether it was over the counterparties ceasing to accept their credit, whether it was the CEO publicly calling themselves…
The Largest Bail-Out In The History Of The World
Imagine that many of the world’s central banks went into the market and bought tens of billions of dollars in mortgage-backed securities to help end the current financial crisis. The action would require that…
Sign Of More Market Trouble: S&P Downgrades Goldman Sachs (GS) And Lehman (LEH)
After a week in which the market finally seemed to vote that big financial companies will be OK, S&P took the holiday to slam Goldman Sachs (NYSE:GS) and Lehman Brothers (NYSE:LEH). No one was…
Sovereign Funds Bow Down To Paulson
Major sovereign funds from Singapore and Abu Dhabi have agreed to Boy Scout rules about keeping their investments in the US strictly financial. No political agendas. This is a copy of the new pact.…