According to Reuters, Congress passed the Obama budget Reuters reports that cautious optimism greeted plans from the G-20 summit. Reuters reports that banks are considering buying toxic assets sold by other banks.…
At 842, the S&P is pushing near a 25% gains since it bottomed for the year-to-date at 677 on March 9th. The bank stocks continue an extraordinary run over that period. Citigroup…
The Financial Accounting Standards Board, or FASB, has voted to loosen its rules for the (now dreaded) balance sheet act of mark-to-market valuation for accounting. Many will argue that this is unfairly…
Secretary Geithner has been late to every party he has attended since talking over Treasury. His plans have often been tardy and full of holes. He seemed to redeem himself with the…
According to Reuters, the G-20 began the work of addressing the economic crisis. Reuters reports that US auto sales may have bottomed. Reuters reports that the House backed new laws for pay…
Citigroup (NYSE: C) and General Motors (NYSE: GM) were removed from the The Global Dow, a relatively new index from Dow Jones Indexes, the same group that puts together the much-more imporant…
In early March, the financial news began to turn good, Citigroup (C) said it has been profitable for the first two months of the year. There were several M&A deals in which…
Douglas A. McIntyre According to Reuters, the Administration has forced GM (GM) CEO Rick Wagoner out of his job. Reuters reports that in an FT interview Obama said the G-20 nations should send a strong…
There is nothing wrong with regulatory agencies and regulations for that matter. It is what keeps four-year-olds from becoming airline pilots and orangutans from being airline mechanics. The theory behind regulation is…
According to Reuters, the Obama financial reforms face a bumpy road. Reuters reports that the NY State Attorney General has subpoenaed AIG (AIG) over its CDS contracts. Reuters reports that Obama’s financial…
Secretary Tim Geithner designed a plan to assist the largest banks to rid themselves of toxic mortgage assets, but now Citigroup (NYSE: C) and Bank of America (NYSE: BAC) are aggressively buying…
Based on the rise in the short interest in banks at mid-month, it is clear how badly investors betting bank stocks would go down were mauled. As of March 15, shares short…
According to Reuters, Obama said that the recession would be halted by government efforts. Reuters reports that Treasury wants broad new powers to wind down troubled non-bank financial firms. Reuters reports that…
Maybe Wall St. is not so in love with the Treasury’s plan to buy toxic assets after all. Citigroup (C) is trading at $2.86 this morning, which is where it changed hands…
In most large American cities there are office buildings which sit half finished in their financial districts. There are still huge cranes next to some of them. If the construction on a…
Douglas A. McIntyre