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…
The recovery from the recession looked fine until late last week. Some of the data from the government and associations that keep track of economic indicators got a bit worse. But, that…
It is bad enough that Richard Ramsden, a Goldman Sachs analyst, has a $1.50 price target on Citigroup (C), which is less than half of where the shares trade now. Ramsden is…
Douglas A. McIntyre Banks are getting TARP money, but they are not using it to ease credit to consumers and businesses, at least to extent that taxpayers and some members of Congress believed that they…
Douglas A. McIntyre The federal government has come up with a new way of taking control of the nation’s largest banks without investing a dime. According to The New York Times, “Treasury Department officials now…
The demands for the head of Citigroup (C) CEO Vikram Pandit have not ended and may rise to a crescendo again if the bank receives poor “stress test” ratings from the federal…
Citigroup, Inc. (NYSE: C) is so far a winner this morning after a “more than acceptable” earnings report. The troubled bank and financial supermarket posted a net profit at $1.59 billion on…
According to Reuters, banks may be hard hit by the bankruptcy of General Growth (GGP) and future commercial real estate defaults. Reuters reports that VW may overtake Toyota (TM) as the No.1 car…
General Growth (GGP), the big mall owner, filed for bankruptcy, as many experts thought it would. The company has $27 billion in debt and, with real estate prices depressed, it may be…
According to Reuters, Obama vowed to overhaul the tax code. Reuters reports that GM (GM) is working on a plan to cut dealers at an accelerated pace. Reuters writes that China’s first…