Bank of America (BAC) is selling part of its stake in China Construction Bank for $7.3 billion. That will help the US institution to raise capital it needs to fill the $34 billion…
According to Reuters, Bernanke says he was encouraged by the stress tests. Reuters reports that GM (GM) will probably exit the Dow. Reuters writes that Bank of America (BAC) will probably sell…
Finally, the stress tests are out for the US banking and financial institutions. Of the banks, 10 of 19 banks need a combined $74 billion of equity.The good news is that a…
The most exciting day of the financial year should have been today because the government releases the results of its multi-month bank “stress test” program which includes thorough vetting of the health…
According to Reuters, GM (GM) is expected to post huge losses ahead of decisions about whether it will go into Chapter 11. Reuters reports that Obama is seeking budget savings due to…
Twelve of the Fortune 500 CEOs are women. Just twelve. Over the next year, that number is likely to go up considerably because of a confluence of economic and financial factors that…
As more information hits the press about the amount of money the government will say big banks will need due to the results of “stress tests”, it is already clear that three…
The twenty-five subprime lenders that originated $1 trillion in high interest loans between 2005 and 2007 got their funding from Wall St. banks that are now the beneficiaries of TARP money. According…
According to Reuters, Bank of America (BAC) will have to raise billions of dollars. Reuters reports that a judge has approved a quick auction of Chrysler assets over the objections of creditors.…
Several news organizations are reporting that ten of the 19 banks subjected to “stress tests” will be asked to raise more capital. Since the firms are still debating with the government, the…
According to Reuters, changes at Yahoo! (YHOO) are getting mixed reviews from employees. Reuters reports that ten banks could could have to raise new money after stress tests. Reuters reports that two…
The Financial Times is reporting that Citigroup (C) and Bank of America (BAC) may each need to raise over $10 billion. If that is true, to get money in the capital markets and…
According to Reuters, if the big transportation bill does not pass states will miss out on funds for roads, bridges, and tunnels. Reuters reports that Buffett attacked bank “stress tests.” Reuters writes…
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.…
