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…
After several weeks of conviction on the part of most economists that the current recession is a “single” dip which will end later this year, the advocates of a “double dip” recession…
Douglas A. McIntyre 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…
Palm (PALM) may not have had much of a choice in terms of which cellular company was going to market its new Pre. AT&T (T) and Verizon Wireless (VZ)(VOD) were probably not…
Wall St. firms and the large money center banks with investment and M&A arms have continued to insist that their best talent will head to private equity firms and hedge funds as…
Reuters: The Supreme Court delays Chrysler deal. Reuters: The cleared ten banks to repay TARP include JPMorgan (JPM), Goldmand Sachs (GS), American Express (AXP), Cpaital One(COF), State Street (STT), BBT (BBT), Morgan…
The Treasury is finally allowing some of the TARP recipient banks that posed the least systematic risk to begin repaying the Treasury’s preferred stock funds. This will get these institutions out from…
Maybe the initial “stress tests” of America’s 19 largest banks were flawed. Or, perhaps taking a single snapshot is not an adequate way to measure the ever-changing financial system. The Congressional Oversight…
The Treasury Department is likely to allow 10 banks which owe in money from TARP funds to pay it back a total of $50 billion. The money will probably burn a hole…
Reuters: China must balance growth and reducing greenhouse gases. Reuters: The Supreme Court has delayed Chrysler’s Chapter 11. Reuters: The US will allow 10 banks to repay TARP funds. Reuters: The Boston…
The Administration is looking at further pay caps for executives on Wall St. and the auto industry. The reasoning is that if a company takes government money, the government should have a…
The Fed and the Treasury have put pressure on Citigroup (C) to create a new board of directors. Richard Parsons, the bank’s chairman, is well on his way to doing that. The…
Reuters: Rio Tinto (RTP) has killed a deal with Chinalco for one with BHP (BHP). Reuters: US regulators insisted JP Morgan (JPM) and Amex (AXP) raise money to exit the TARP. Reuters: …
