According to Reuters, Madoff will plead guilty. Reuters reports that most consumers do not expect any recovery until 2010. Reuters reports that Bernanke says new management at AIG (AIG) has curbed costs.…
Influential bank analyst Meredith Whitney just gave a Maria Bartoromo an interview on CNBC after her op-ed piece in the WSJ called credit cards and credit lines the next wave of problems…
Vikram Pandit, CEO of Citigroup (C), said that the bank made money in the first two months of the year. Primarily on the strength of those comments, the firm’s stock is up…
Douglas A. McIntyre Vikram Pandit, CEO of Citigroup Inc. (NYSE: C) is being credited for most of today’s rally based upon a memo he sent to employees after last week’s debacle. We have provided additional…
Douglas A. McIntyre Citigroup (C) CEO Vikram Pandit says that the bank is having a great quarter. That must be true because he says it is, although his comments in the past have not always been spot on. According…
Douglas A. McIntyre According to the head of the FDIC, a “bad bank” system could jumpstart the US economy. Reuters reports that some economists believe that the US economy will start to rebound in the…
GM’s (GM) stock is racing toward $1 where it can join Citigroup (C) and a number of other famous American companies which could not hold that price point. Today GM trades at $1.43, and…
Wells Fargo (WFC) is supposed to be one of the healthier big banks. The market has not treated that way, driving its shares relentlessly lower–down 40% over the last five trading days…
According to Reuters, Obama will start work on getting his healthcare plan passed. Reuters reports that February joblessness is estimated to rise 648,000 for February. Reuters reports that the pick for the…
The Dow Jones industrial average, or DJIA, is perhaps the mostly widely recognized index in the world. When people talk about “The Market” in cabs and in bars, and on the phone,…
Citigroup (G), until recently the largest financial services company in the world, traded below $1 at 11.37 AM today, one more road mark on its trip to a becoming a firm which is essentially…
Douglas A. McIntyre GE (GE) Panic selling over concerns about balance sheet of financial division. Drops to $5.73 from 52-week high of $38.52. Citigroup (C) Worries about nationalization persist. Down to $1.11 from 52-week high…
Two years ago, Citigroup shares traded for $55. Last week, after the government said it might own as much as 36% of the company, the stock dropped to $1.40. Citigroup is about…
According to Reuters, too much dependence on government aid could cause a second recession when the companies are forced to stand on their own. Reuters reports that Obama is considering funds to…
Citigroup (C) Still fears of nationalization or a larger bailout. Falls to $1.15. from a 52-week high of $27.35. GE (GE) Market not comforted that GE’s financial services are is not in…