According to Reuters, Obama set out his goals in an address before Congress. Reuters reports that UAW leaders are urging members to vote for the new Ford (F) contract. Reuters reports that…
According to Reuters, JPMorgan (JPM) cuts its dividend. Reuters reports that AIG (AIG) got bids from Met Life and Axa for its life unit. Reuters says that healthcare spending is taking a…
Management at AIG (AIG) has calculated exactly how much money the Treasury and Fed will have access to after all of the TARP, financial stimulus, and mortgage bailout projects have been funded.…
To hear the management at JPMorgan (JPM) talk, the bank does not have to cut its dividend, but it would be nice to keep the extra money each quarter, just in case…
The federal government gets extra points for being devious. It plans to begin to take over large banks by giving them money and using the capital they have already invested for a…
According to Reuters, the US government may take a 40% interest in Citigroup (C). Reuters reports that the Treasury is considering funding options for Chrysler and GM (GM). Reuters reports that a…
The Wall Street Journal says that the federal government is in talks to put more capital into Citigroup (C) and may end up owning 40% of the big banks. According tothe paper,…
There is a fear in America today, and it is a real one. It is part of the reason you keep seeing destruction of value in the stock market every day. That…
The White House said that the President is in favor of keeping the US banks private. That caused a mild rally in their shares yesterday after they had dropped like rocks though most…
Citigroup (C) Worries about bank nationalization take shares to $1.61 from 52-week high of $27.35. Bank of American (BAC) Ditto. Down to $2.53 from 52-week high of $43.50. Wells Fargo (WFC) More…
Today marks a monumental moment for the markets. The DJIA has broken through some of the major key support levels of November 2008, and now the questions are mounting over whether the…
Does the economy get worse from here or do the government programs recently signed into law increase confidence and start to put capital to work to create jobs and build businesses? In…
According to Reuters, Allan Stanford was found in Virginia. Reuters reports that the stimulus is unlikely to fix state problems. Reuters writes that US consumer prices probably moved up in January.
Meredith Whitney, one the most influential pundits in the financial sector today, has left Oppenheimer and has started Meredith Whitney Advisory Group. Today she told CNBC’s Maria Bartiromo that her outlook for…
The number of reasons that banks may have to be nationalized my have just grown by one. Default rates on credit cards may end up being much higher than had been previously…
