The recovery from the recession looked fine until late last week. Some of the data from the government and associations that keep track of economic indicators got a bit worse. But, that…
It is bad enough that Richard Ramsden, a Goldman Sachs analyst, has a $1.50 price target on Citigroup (C), which is less than half of where the shares trade now. Ramsden is…
Douglas A. McIntyre Banks are getting TARP money, but they are not using it to ease credit to consumers and businesses, at least to extent that taxpayers and some members of Congress believed that they…
Douglas A. McIntyre The federal government has come up with a new way of taking control of the nation’s largest banks without investing a dime. According to The New York Times, “Treasury Department officials now…
The demands for the head of Citigroup (C) CEO Vikram Pandit have not ended and may rise to a crescendo again if the bank receives poor “stress test” ratings from the federal…
Citigroup, Inc. (NYSE: C) is so far a winner this morning after a “more than acceptable” earnings report. The troubled bank and financial supermarket posted a net profit at $1.59 billion on…
According to Reuters, banks may be hard hit by the bankruptcy of General Growth (GGP) and future commercial real estate defaults. Reuters reports that VW may overtake Toyota (TM) as the No.1 car…
General Growth (GGP), the big mall owner, filed for bankruptcy, as many experts thought it would. The company has $27 billion in debt and, with real estate prices depressed, it may be…
According to Reuters, Obama vowed to overhaul the tax code. Reuters reports that GM (GM) is working on a plan to cut dealers at an accelerated pace. Reuters writes that China’s first…
According to Reuters, Goldman Sachs (GS) would like to return to its old businesses and compensation practices, but it may not be able to. Reuters reports that the US is planning to…
Citigroup, Inc. (NYSE: C) was believed by many to be on the verge of death just six short weeks ago. But alas, the shorting and the selling doesn’t go on forever even if…
Douglas A. McIntyre Two things, which happened within hours of one another, will probably determine the value of bank stocks for the next several months. Optimism about bank earnings pushed up Citigroup(C) by 25% yesterday…
There would appear to be no end to the extent to which banks which received TARP funds will go to make Congress and the public unhappy with the program and its results.…
The Federal Reserve keeps saying that many of its dealings with the financial industry must remain secret. Congress keeps insisting that no such secrets should be kept from the taxpayers who are funding the massive…
Investors find it disconcerting to see the stocks in the huge financial institutions that are at the foundation of the global capital system trading up and down 25% a day, and, in…
