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…
The Wall Street Journal, in a bit of investigative reporting, found that the CEOs of companies that have received federal bailout funds are still having fun using their firms’ private jets. Or,…
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 faces a long period of economic stagnation. Reuters: Obama will release plans for a financial market overhaul. Reuters: The White House will not help California fix its deficit. Reuters: …
It seems that even the Governator is having a hard time saving California, and many are blaming him for the state’s ballooning budget deficit. The company is facing billions in deficits and…
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…
Reuters: The heads of the emerging markets, the so-called BRICs, held their first global summit. Reuters: Obama will be tested this week on financial reforms. Reuters: Rich nations are working on an…
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…
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…
The House Oversight Committee has subpoenaed the Fed to get information relating to the Bank of America (BAC) buyout of Merrill Lynch. Ken Lewis, the bank’s CEO, claims that former Treasury Secretary…
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…
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…
