Despite what executives at Goldman Sachs (GS) and several other large financial firms have done by agreeing to take no bonuses, there has been no such word out of Citigroup (C). It…
Douglas A. McIntyre According to Reuters, falling interest rates will not offset unemployment and falling prices to save to housing market. Reuters reports that GM (GM) and Chrysler are considering bankruptcy to get US funding.…
The wonderful and extraordinary thing about big federal spending programs is that the government does not have enough people to keep track of how the money is used. Grifters are everywhere. So…
According to Reuters, a bailout of US car companies gained support in Congress as GM (GM) and Chrysler said they needed money immediately to stay in business. Reuters reports that Merrill will…
Citigroup, Inc. (NYSE: C) is still in a pinch despite more than a 100% bounce from recent lows, and its still-relatively new CEO is caught right in the middle of a storm…
Hope springs eternal. For several months now analysts and investors have believed that the fourth quarter would be a reasonable one for banks. A lot of the bad paper on their balance…
Douglas A. McIntyre 24/7 Wall St. will name its annual CEO of the Year next week. The executive will be picked from a field of ten which we will profile this week. The CEOs are…
Most industries get to spread out their bad news. The current exceptions appear to be the automotive and banking sectors.Some days they can be hit from three or four sides. An impression…
AIG is ready to repay the Fed $40 billion. The money will come from preferred shares it raised with backing from Treasury. If AIG defaults, the federal government gets the bag. That…
According to Reuters, Paulson has turned his back on giving insurance companies part of the bailout Reuters reports that Rio Tinto (RTP) is faced with selling assets, Reuters reports that the head…
It was just this last summer that the heads of Merrill Lynch (MER), Lehman, and Morgan Stanley (MS) said the financial crisis had peaked and its energy was dissipating. It would be…
The news is as old as the Magna Carta. The consumer is broke. He does not have a dime. He is out of work. He is defaulting on his home equity loan,…
According to MarketWatch, shares in Rio Tinto (RTP) dropped 40% after BHP Billiton (BHP) dropped its offer for the company. According to Reuters, Citigroup’s (C) assurances that it did not need capital…
The market may be cheering the Citigroup (C) bailout, but one of the bank’s top analysts suggested that the cork go back in the bottle. There won’t be any party between now…
Douglas A. McIntyre The Paulson/Bernanke bailout is now spreading across the financial system like a prairie fire in a stiff wind. AIG (AIG) got one deal. A number of banks got a piece of another…