Vikram Pandit has been the CEO of Citigroup (C) for ten months. The only thing he has done right is collect $216 million in compensation. Much of that was for the sale…
Wachovia Corp. (NYSE: WB) is now in play as Wells Fargo (NYSE: WFC) has come out with an alternative merger deal in a stock for stock merger offer for all of Wachovia…
According to Reuters, the credit crisis has sharply increased the chances of a deep recession. Reuters reports that the fall in the stock market is pushing investors into safe investments like Treasuries.…
Wachovia Corporation (NYSE: WB) has just resumed trading after its FDIC-led Citigroup Inc. (NYSE: C) "take-under" came in. By now you’ve already heard enough about the merger news and how ugly this…
Now that the Congress has voted against the Treasury bailout and the Dow has dropped700 points, the important question is whether they system can save itself before the market moves toward 9,000.…
Wachovia Corporation (NYSE: WB) is the newest big bank that is being taken over in a government-sponsored deal. Citigroup (NYSE: C) is acquiring the bulk of the bank’s assets and liabilities in…
According to Reuters, Congress is ready to vote on a $700 billion financial bailout package. Reuters reports that Belgian-Dutch group Fortis was nationalized Reuters reports that British mortgage lender Bradford & Bingley…
Two European financial firms fell apart during the last 24 hours. The U.K. government said that mortgage bank Bradford & Bingley is being nationalized after investors and lenders lost confidence in the…
According to The Times of London, the Treasury is poised today to nationalize Bradford & Bingley, the troubled mortgage bank. The Times also reports that hedge funds and institutions could be forced…
The rumor mill and the deal-making mill might not be dead. The New York Times’ DealBook noted that Citigroup Inc. (NYSE:C) and Wachovia Corporation (NYSE: WB) were in early merger talks. Citi…
There is one interesting irony in this whole financial meltdown which goes which many will not want to admit. Citigroup Inc. (NYSE:C) and the financial supermarket model may actually be emulated by…
The cut-off for the last short interest data was September 15, before a number of financial stocks got protection from the SEC. Before the ban, short sellers were already moving out of…
Oppenheimer’s star banking analyst Meredith Whitney is out with another scathing note on major banks this morning despite the government bailout plan. She slashed estimates on Bank of America Corp. (NYSE: BAC),…
T. Boone Pickens can get out of the alternative energy business. Under new regulations, he is allowed to buy Citigroup (C) or Bank of America (BAC). The Fed has decided that banks…
General Motors (GM) said on Friday that it will draw down $3.5 billion on the $4.5 billion line of credit it put in place with JPMorgan Chase (JPM) and Citigroup (C) back…
