The government says that Citigroup (C) needs to raise $10 billion. Citi believes otherwise. According to The Wall Street Journal, if the bank’s view of its status prevails, “Citigroup could wind up having…
Douglas A. McIntyre J.P. Morgan Chase & Co. (NYSE: JPM) has issued a negative bank research call for the major money center and super-regional banks this morning. Bank of America Corporation (NYSE: BAC), Citigroup, Inc.…
Bank examiners wearing black suits and white shirts have already been to the Citigroup (C) headquarters in Manhattan to tell CEO Vikram Pandit how badly his company did on recent stress tests…
Douglas A. McIntyre According to Reuters, lenders will object to the Chrysler Chapter 11 filing. Reuters reports that Switzerland is asking US a court to halt a case against UBS (UBS). Reuters reports that SMFG will buy…
Ken Lewis got a slap on the hand. Shareholders of Bank of America (BAC) voted to separate the chairman’s role from the CEO’s and the bank’s board was forced to elect a…
Bloomberg reports that six of the 19 banks that went through the government’s “stress test” program will need to raise more capital. That list probably includes Citigroup (C) and Bank of America (BAC). …
Citigroup (C) has gone to the Treasury to beg for bonuses for some of its most important traders, people who make the banks extraordinary amounts of money. The Treasury’s reaction will probably…
Douglas A. McIntyre According to Reuters, the days of the CEOs of Bank of America (BAC) and Citigroup (C) may be numbered. Reuters reports that a deal has been reached to cut Chrysler’s debt but…
Stock research firm FBR has had trouble with its analysis about the banking industry before. It recently wrote that the US banking system needs at minimum $1 trillion in new tangible common…
Wednesday will potentially mark the apex for the scandals and controversy surrounding Bank of America Corporation (NYSE: BAC) as far as its role in Merrill Lynch bonuses, whether Ken Lewis (and/or other…
By the middle of the year, the federal government will own large, and in some cases, controlling interests, in two car companies and several major banks. There is a chance the the extent of rescue efforts…
According to Reuters, world health officials are fighting to contain the new flu. Reuters reports that the government may be pressing Citigroup (C) and Bank of America (BAC) to raise more money.…
Short selling is among the most controversial investment practices and has been blamed for sharp sell-offs in the stocks of a number of large companies, especially financial firms. Governments in both the US and…
According to Reuters, Yahoo!’s (YHOO) profit dropped 80% and it will cut 5% of staff. Reuters reports that Chrysler bondholders offered to swap some debt for equity. Reuters reports that Geithner says…
In his hide-and-go-seek testimony before the Congressional Oversight Panel, Secretary of the Treasury Geithner said that the “vast majority” of banks have more capital than they need. He did not say which…
