Citigroup (C), JP Morgan (JPM), and Bank of America (BAC) are closer to setting up their "super fund" to supply short-term loans to structured investment vehicles, pools of money which are made…
According to Bloomberg "JPMorgan Chase & Co., the third- largest U.S. bank, said it held $40.6 billion in leveraged loans and unfunded commitments as of Sept. 30 that are difficult to hedge…
Moody’s has begun to downgrade the debt in a number of the structured investment vehicles that own huge pools of mortgage-related securities. According to The Wall Street Journal "in its report, Moody’s…
One thing must be said for Chuck Prince, who left Citigroup (C) todayafter four years. He could take a beating. From the moment the CEO’s chair was vacated by the ample frame…
Citigroup’s capital levels are way down. Part of this comes from a drop in the value of its asset base and part from a string of acquisitions that the bank has made.…
According to the FT, former Fed chief Alan Greenspan says that the $75 billion plus fund to buy the assets of troubled investment vehicles is a bad idea. The leaders in the…
Several banks with troubled fixed income and mortgage securities are making the rounds to raise $80 billion to $100 billion to build a fund to buy some of this distressed debt. Citicorp…
Accoriding to Reuters, Sony (SNE) will launch a cheaper version of its PS3 in the US in hopes of taking market share from Microsoft (MSFT) and Nintendo. Reuters writes that British Air…
Citigroup (NYSE:C) shares have spent most of the day in the tank after three straight down-days in the stock. In fact, todays intraday lows were actually 52-week lows. Conversely, JPMorgan Chase (NYSE:JPM)…
JP Morgan (JPM) reported 2007 third-quarter net income of $3.4 billion, up from $3.3 billion in the third quarter of 2006. Earnings per share of $0.97 were up 5%, compared with $0.92…
Douglas A. McIntyre According to Reuters, the Mortgage Bankers Association said that mortgage originations will fall next year to the lowest levels since 2000, forcing job losses for at least 30,000 more home finance professionals.…
DJIA component and financial giant JPMorgan Chase (NYSE:JPM) is set to report earnings Wednesday morning before the open. We have First Call estimates at $0.90 EPS & $16.6 Billion, but based upon…
More details are out on this huge superfund we covered over the weekend to take advantage of over-sold (or now illiquid) asset-backed securities and loans. The name of the structure is a…
Citigroup CEO-for-life Chuck Prince engineered another major reorganization of his senior management group. This time the reason was all of the mortgage and fixed income losses the bank had. The ones that…
"Judges traditionally have been skeptical of buyers’ efforts to walk away from acquisitions by arguing that economic or regulatory conditions have changed so much that deals should be terminated, several lawyers who…
