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.…
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…