On more than one occasion 24/7 Wall St. has said Citigroup’s (NYSE: C) shares could go as low as $15. Now Oppenheimer is saying it agrees. Bloomberg writes "Citigroup may post its…
Douglas A. McIntyre Ambac (NYSE: ABK), the down-on-its-luck muni-bond insurance company may get rescued by several large banks. If the reports are to be believed, Citigroup (NYSE: C), UBS (NYSE: UBS), and Wachovia (NYSE: WB)…
If muni-bond insurers like Amback (NYSE: ABK) and MBIA (NYSE:MBI) are forced to break into two pieces, some banks could be badly hurt. The halving of the firms would leave the muni…
An analysis out of Citigroup says that UBS (UBS) could be forced to write-down $18 billion more of its $80 billion in exposure to subprime instruments and other debt which it holds…
According to Reuters, Citigroup says UBS (UBS) may face another $18 billion in write-downs this year. Reuters writes that Alan Greenspan says the US is on the edge of recession. Reuters writes…
UBS (UBS) had an awful quarter. The Swiss financial firm reported a fourth-quarter loss of 12.45 billion Swiss francs ($11.3 billion), compared with profit of 3.41 billion francs in the year-earlier period.…
Eliot Spitzer, former prosecutor and now governor of New York State, will ape comments made by Deutsche Bank (DB) Chief Executive Josef Ackermann. If bond insurers fail its will create a "financial…
A lot of smaller companies will continue to report earnings over the next several weeks, but almost all of the really big companies which are on calendar fiscals have put out their…
Wikipedia listing "No Exit", a 1944 play by Jean-Paul Sartre, (see also–Delphi’s Chapter 11 problem.) On the way to getting out of Chapter 11, auto parts company Delphi ran into the credit…
Eric Dinallo, New York State’s insurance regulator, is a clever devil. He has effectively pitted Warren Buffett against the nation’s biggest money center banks to see who will get the chance to…
According to Reuters, GM (GM) offered buy-outs to workers after posting a large Q4 loss. Reuters writes that Warren Buffett offered to insure $800 billion worth of bonds currently insured by monoline…
The US Treasury is encouraging several large banks, lead by Citigroup (C) and Bank of America (BAC) to freeze foreclosures for 30 days while they sort out which homeowners should get restructured…
Bank of America has release a study showing the levels of LBO write-downs that large banks and brokerages may have to take. The figures are based on a "the current series of…
After booking billions of dollars in losses because of actions by a rogue trader and write-offs in its CDO portfolio, Societe Generale went to the market with a rights offering for almost…
Douglas A. McIntyre Cisco (NASD: CSCO) and EDS (NYSE: EDS) have businesses which point different directions on a compass. But, it is the same compass. In one day, Cisco was able to show that large…
