A JP Morgan (JPM) Takeover Of Citigroup (C)?
Well, some one with a pen and paper thinks that Citigroup (C) may be taken over. According to FT blog site Alpahville, JP Morgan (JPM) may be just the folks to do it. The…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 307Slash And Burn At Washington Mutual (WM)
Washington Mutual (WM) has announced that it will cut its dividend, stop lending to the subprime market, and raise $2.5 billion through a preferred stock offering. The market took that news badly and pushed…
MBIA Raises Cash & Bolsters Books
MBIA Inc. (NYSE: MBI) has entered into a definitive agreement with global private equity firm Warburg Pincus to invest up to $1 billion in MBIA through a direct purchase of MBIA common stock and…
As Blackstone (BX) Turns To China For Money, Banks Become Less Important For Private Equity
Blackstone (BX) is making a bid for miner Rio Tinto (RTP), at least according to The Telegraph. Rio has a market cap of over $150 billion, and will probably be sold at some kind…
UBS (UBS) Announced Huge Write-Off
UBS (UBS) will take another $10 billion in write-offs for subprime debt intruments. According to The Wall Street Journal, "The Government of Singapore Investment Corp. is investing 11 billion francs" to strength the bank’s…
10 CEO’s That Need To Leave in 2008: Angelo Mozilo of Countrywide (CFC)
When all the CEO’s and corporate officers are lumped together for playing down the sub-prime mess in the summer and for all the sub-prime loans that were made, one CEO is thought of as…
Another SIV Bail-Out
Another SIV has been bailed out by a major bank. Dutch bank Rabobank will move $7.6 billion of SIV assets onto its balance sheet. The SIV in question, Tango Finance, was co-managed with Citigroup…
10 CEO’s That Need To Leave in 2008: Michael Cherkasky of Marsh & McLennan (MMC)
MARSH & MCLENNAN COMPANIES INC. (NYSE: MMC) is guilty of having one of the TOP 10 CEO’s TO GO FOR 2008. Michael Cherkasky is both President & CEO of the broader "Marsh-Mac" group of…
“Auto SIVs”: Car Loans Step Front And Center
Economists hoped that, even though some US consumers would have trouble making mortgage payments, there was enough income in the market to keep credit card and car payments fairly safe.It does not look like…
With Amount In “Super Fund ” Falling, Project Looks More Like Citigroup (C) Bail-Out
A funny thing happened on the way to creating a $100 billion "Super Fund" to loan money to SIVs which needed short term cash to stay in business. These SIVs own a lot of…
Citigroup (C) Goes Begging For CEO
According to the FT, the board at Citigroup (C) tried to get Josef Ackermann, the head man at DeutscheBank (DB) to come to the US bank as CEO. He said no. There appears to…
Blackstone (BX): Just An Ordinary Company
A booming market in widgets makes most widget company management look good. It turns out to be the same with private equity. The people who run Blackstone (BX) looked like rocket scientists when almost…
Fannie Mae Liquidity Answer: Cut Dividend & Sell Securities (FNM, FRE)
It’s no secret that Fannie Mae (NYSE:FNM) has been in trouble, and this afternoon we just found out some more of what we have been expecting. The troubled GSC is cutting its quarterly dividend…
Lehman Swipes Up Van der Moolen Specialist Ops (LEH, VDM)
The fate of at least one of the exiting specialists has been sealed. Van der Moolen Holding NV (NYSE: VDM) has reached agreement to sell certain assets of its US specialist and market making…
Countrywide (CFC): No Chapter 11, Again
The head of Countrywide (CFC) stated his case, once more, that the mortgage lender is not a candidate for Chapter 11. But, Angelo Mozilo does appear to like the topic. He brought it up…