According to Reuters, Citigroup (C) is near a deal to form a venture putting its brokerage business together with the one at Morgan Stanley (MS) Citi would be paid about $2 billion.…
The WSJ first reported that famed ex-Treasury Secretary Bob Rubin will be leaving the board of directors at Citigroup Inc. (NYSE: C). This has now been confirmed in multiple reports elsewhere. This…
Douglas A. McIntyre The committee assigned by Congress to keep track of whether the Treasury has spent the money from the TARP wisely has come out with its latest report which keelhauls Henry Paulson and…
Douglas A. McIntyre According to Reuters, the world is waiting on US jobs data to measure recession. Reuters reports that a Congressional panel is upping criticism of the Treasury. Reuters reports that corporate fraud scandals…
According to Reuters, Microsoft (MSFT) Windows 7 is "on schedule" and will begin testing with consumers. Reuters reports that Obama will lay out his case for stimulus package in a speech. Reuters…
Oppenheimer’s star banking analyst Meredith Whitney slammed the banking giants yet again this morning. The difference between today’s note and her prior criticisms, is that now she expects that many banks will…
Yesterday, Bank of America (BAC) said it would miss its 2008 numbers. There has been a good deal of talk that Jamie Dimon will be pulled off his thrown at JPMorgan (JPM)…
Three days ago, Sprint (S) traded at $1.79. Today, it hit $2.32 in early trading, up 30%. AT&T (T) and Verizon (VZ) are down during the same period, to some extent because…
Down in Washington, a bunch of Congressmen who lost their jobs and bunch of others taking lobbying money under the table for a piece of the bailout fund, are drawing and quartering…
Deutsche Bank said the biggest issue U.S. banks will face in 2009 is loan losses. The firm expects commercial bank loan losses for the industry to increase from 1.5% (3Q08) to 3%…
Douglas A. McIntyre It looks like we have our most likely candidates for the "Dogs of the Dow" for 2009. This is often misunderstood as an investment vehicle. These are the 10 highest dividend-yielding stocks…
The average man on the street would view giving up millions of dollars in bonus money for a hard year of work as a tremendous sacrifice. Vikram Pandit, CEO of Citigroup (C),…
According to Reuters, Wall St. closed its worst year since The Depression. Reuters reports that GMAC did not hit its goal of trading debt for equity and cash. Reuters reports that GM…
No one seems to have liked that way SEC chief Christopher Cox handled his job during the financial crisis. Congress thought he should have done more to keep banks and investment houses…
A Bloomberg review of the S&P 500 stocks shows that the fourth quarter of 2008 will probably be the sixth quarter of declining earnings. According to the news service, "Fourth-quarter profit at…
