According to Reuters, Citigroup (C) is weighing options including a sale. Reuters reports that oil moved to a three-and-a-half year low. Reuters writes that Fannie Mae (FNM) and Freddie Mac (FRE) are…
Fannie Mae (FNM) and Freddie Mac (FRE) announced that they will suspend foreclosures of occupied homes until early 2009. That appears to be an excellent way to stop the increase in evictions…
Douglas A. McIntyre A quick look at bank stocks would indicate that Wall St. is not terribly impressed with the Paulson $700 billion bailout plan. Citigroup (C), the whipping boy of the group, may be…
According to Reuters, Japan exports hit their lowest level since 2002. Reuters writes that hopes for an auto bailout in this session of Congress are poor. Reuters reports that the US is…
If the press is right, Citigroup (C) is about to hold a big pep rally with its CEO Vikram Pandit raising the cheer followed by an announcement that it will fire another…
Perhaps it is a remarkable failure of imagination or just animal panic. A day after Citigroup (C) hit a multi-year low and spent time below $10, CEO Vikram Pandit’s answer was to…
Citigroup’s (C) CEO Vikram Pandit has cemented his reputation as the worst CEO of the new breed of men who replaced the remarkably careless and callous executives who ran Citi, Merrill Lynch…
Citigroup (C) investors have been remarkably patient with relatively new CEO Vikram Pandit. But, the company’s shares traded under $10 today. The stock has not been that low since 1995. Pandit earned…
The head of Toll Brothers (TOL) said the housing market could not get worse, but it has anyway. People were not even bothering to come and see the homes his company builds.…
Ben Bernanke and Henry Paulson may be holding guns to the heads of major banks to get them to "reset" the mortgages of troubled homeowners, or the generous spirit of the holidays…
China’s new bailout package has been set up to make the US government look cheap. At $586 billion its ratio to GDP is impressive. The CIA Factbook puts the GDP on the…
Douglas A. McIntyre According to Reuters, Australia cut key interest rates. Reuters reports that a large Goldman Sachs (GS) fund lost $1 billion in the first ten months of the year. Reuters writes that the…
Congress does not like the way that most bailout money is going to banks. It wants to see the little guy with the underwater mortgage and stagnant income get some direct help.…
Barclays (BCS) turned down cash from the UK government. Unlike most large US banks, it did not want to trade independence for money. Companies such as Goldman Sachs (GS), JP Morgan (JPM),…
According to Reuters, the economy contracted in the third quarter as consumer spending dropped sharply. Reuters writes that Fidelity Magellan Fund bought shares in big banks in September including Bank of America…
