According to Reuters, the financial crisis may speed up the approval of the Treasury Secretary. Reuters reports that Fiat has set a deal to own 35% of Chrysler. Reuters reports that an…
The raging debate about the largest American banks is whether their stock market values should be zero. Economist Nouriel Roubini, the most highly paid pessimist in the world, recently said that US…
The carnage among financial stocks is so complete, that they are listed here witht thier lows: Bank of America (BAC): $5.17, Citigroup (C): $2.80, Wells Fargo (WFC): $14.02, JP Morgan (JPM): $17.70,…
If you are not familiar with the name Kingdom Holding Co., you may know its owner by the name of Prince Alwaleed bin Talal. He has been a very visible investor in…
According to Reuters, there is at least some chance that the US could have to nationalize some banks. Reuters reports that the UK launched a huge new bank rescue plan. Reuters writes…
The federal government really does not want to build a "bad bank" to take toxic assets from America’s largest financial institutions. It has taken a number of measures to avoid it. The…
Buried a bit in the news that the government had entered into a definitive agreement to share losses on $301 billion of Citigroup’s toxic assets and the announcement that the company lost…
Douglas A. McIntyre The rehabilitation and restructuring of Citigroup (C) was supposed to take months, or maybe a year. The big bank got a cash infusion when it sold a part of Smith Barney to…
Now that Bank of America (BAC) has been given $20 billion more capital from the government in addition to about $118 billion in guarantees against toxic asset losses, the subject of whether…
From time to time, the editors at 24/7 Wall St. will look at which companies may file for Chapter 11 bankruptcy protection over the next year. The analysis involves looking at SEC…
Analysts have been concerned that JP Morgan (JPM), considered the most successful of the large US banks, might miss its numbers and turn in a loss The financial firm held the line…
Congress is fighting with both the administration that is leaving and the one that is coming about what should happen to the $350 billion left in the TARP. Most legislators do not…
According to Reuters, Steve Jobs will take a medical leave from Apple (AAPL) until June 30. Reuters reports that Bank of America (BAC) is in discussions with the government to get billions…
The conventional wisdom was that 2008 would be the worst year for bank losses in years, but that it would be the bottom. The damage of mortgage-backed securities has moved into the…
Sandy Weill created Citigroup (C) because he wanted to run the world’s largest financial services company. He had lost this opportunity earlier in his career, but he did find a way eventually…