Goldman Sachs (GS) recently said that media reports that its employees would make huge sums based on the firm’s 2009 earnings were not true. It turns out that they probably are. In…
Douglas A. McIntyre Reuters: California declared a financial emergency. Reuters: An SEC attorney raised concern about a Madoff report in 2004. Reuters: Auto parts supplier Lear filed for bankruptcy. Reuters: NYC apartment sales are down…
Analysts were appalled when Goldman Sachs (GS) paid a 10% coupon on a $5 billion investment made by Warren Buffett of Berkshire Hathaway (BRK-A)(BRK-B) in September of last year. He also was given…
The Treasury said that it plans to dispose of the warrants that it got from banks as part of bail out financing given to, and, in some cases, forced upon major US…
Ken Heebner of CGM Funds is often a guest on CNBC after the FOMC decision on rates. His sphere of great influence has withered as the CGM Focus Fund (CGMFX) has been…
John Mack of Morgan Stanley (MS) made sure that he had a large base salary for this year, even though his firm nearly fell apart last year. The management of Citigroup (C)…
Deutsche Bank says that the commercial real estate market in America will not recover until 2017. Richard Parkus, Deutsche Bank head of Commercial Mortgage-backed Securities and Asset-Backed Securities Synthetics Research, told Reuters…
Goldman Sachs (GS) has now paid back the TARP funds which removes the firm from what it must consider the government’s most draconian pay restrictions, those applied to companies living on taxpayer bailout dollars.…
Douglas A. McIntyre Reuters: Airlines are cutting back on first class seating. Reuters: Xstrata wants merger talks with mining rival Anglo American. Reuters: Employers are cutting 401 (K) plans. Reuters: Brand loyalty is being hurt by…
E*TRADE Financial Corp. (NASDAQ: ETFC) has been the worst of the online brokerage stock. With some of the crazy mortgage products it offered, it is no wonder. And the stock has paid…
Reuters: Investors are putting money into emerging markets except Eastern Europe. Reuters: Stanford will go to court for a $8 billion fraud allegation. Reuters: RIM’s (RIMM) outlook disappointed. Reuters: CEOs at bailed out…
Bank of America’s (BAC) addiction to giving its senior employees huge bonuses has not ended. These used to be based on “performance.” A banker who created toxic asset products that could be…
Reuters: Obama proposed sweeping reform for financial industry. Reuters: A number of large banks repaid TARP. (JPM)(GS)(BBT)(COP)(STT)(AXP)(USB) Reuters: Consumer prices show inflation is in check. Reuters: China could still be a big…
Reuters: The US outlined new financial market reforms. Reuters: Obama lobbied MDs on his new healthcare package. Reuters: Russia hosted the first BRIC summit. Reuters: B of A’s (BAC) BlackRock (BLK) stake…
Bank of America Merrill Lynch (BofA-Merrill), the new name for the brokerage arm of Bank of America Corporation (NYSE: BAC), has come out this morning with a cautious call on brokerage firms…