The UK government is about to become the de facto largest shareholder in two of the country’s largest banks, HBOS and The Royal Bank of Scotland (RBS). Given the number of times…
A few days ago, it would have been nearly impossible to believe that the deals for Bank of America (BAC) to buy Merrill Lynch (MER), for Mitsubishi UFJ to buy 20% of…
According to Reuters, the US is looking at guaranteeing billions of dollars of bank debt and temporarily insuring all bank deposits. Reuters reports that Citigroup (C) has ended talks about taking over…
The most wonderful thing about the current financial crisis is that it is a monument to human optimism. Every day executives and government officials signal that things may be getting better. Everyday…
Henry Paulson watched the Brits come up with a new plan to save the banking system before he did. He is probably embarrassed by that. He and Bernanke seemed to have a…
According to Reuters, the US Treasury may buy interests in large banks following the model set up by the UK. Reuters reports that IBM’s (IBM) earnings strength helped calm tech investors. Reuters…
Vikram Pandit, CEO of Citigroup (C), should be so lucky as to have Wells Fargo (WFC) steal the buyout of Wachovia (WB) from him. Citi has gone into court asking $60 billion…
According to Reuters, US markets fell to five-year lows. Reuters writes that Wells Fargo (WFC) could end up with over 75% of Wachovia;s (WB) deposits. Reuters reports that Morgan Stanley’s (MS) deal…
According to Reuters, Bank of America (BAC) reported weak earnings and cut its dividend. Reuters reports that Wells Fargo (WFC) and Citigroup (C) agreed to drop litigation for now and negotiate over…
Wachovia Corp. (NYSE: WB) shares were halted for "NEWS PENDING" because of an announcement coming out of Citigroup (NYSE: C). The Citi and Wells Fargo (NYSE: WFC) war may be heating up…
A sword was brought, and Solomon ordered,"Cut the baby in half! That way each of you can have part of him." 2 Chronicles 1.1-1.3 If Vikram Pandit at Citigroup (C) had not…
According to Reuters, regulators around the world are trying to shore up the banking system. Reuters reports that the Fed is trying to broker a deal for whether Citigroup (C) or Wells…
Now that Citigroup (C) has botched its takeover of Wachovia (WB) it hopes to turn to the US court system to be its savior. Wells Fargo (WFC) moved in under the cover…
Warren Buffett of Berkshire Hathaway Inc. (NYSE: BRK-A) just told CNBC that the bailout plan was "no panacea" but that it will help avoid a total disaster. Whether it will be a…
Citigroup Inc. (NYSE: C) has finally issued a statement on the interruption of its Wachovia Corp. (NYSE: WB) buyout. Citi is saying that Wachovia’s agreement to a transaction with Wells Fargo (NYSE:…
