Archive for Gary

With as much as $300 million in underwriting fees at stake, one of the largest paydays many years for investment bankers, Bank of America (NYSE:BAC) and JPMorgan (NYSE:JPM) are reportedly among the leading candidates to land the underwriting job for the initial public offering of General Motors. Citing one person with knowledge of the matter, [...]

Citigroup (NYSE:C) say the euro could drop to levels not seen since the latter part of 2005, with estimates it could fall to $1.164 over the next 30 to 90 days. Noting the currency fell to the middle of its all-time high and all-time low, dropping to $1.2134 today, head technical strategist at Citigroup, Tom [...]

Credit swaps for Citigroup (NYSE:C) and Goldman Sachs (NYSE:GS) rose in May, with swaps for Goldman increasing 3.9 basis points to 170.8 basis points, and Citigroup swaps grew 2.7 basis points to 173.4 basis points. Buyers of credit swaps are paid the face value of the instrument if a borrower doesn’t pay what they owe, [...]

Even though Citigroup (NYSE:C) and others with vested interest in them would like to believe they’re better than a $4 stock, I don’t think at this time that is the case, and in the short term it is doubtful they’ll have much support beyond that. We could and probably will see them make occasionally upward [...]

A report from the Wall Street Journal states that based on data gathered from the Federal Reserve, Citigroup (NYSE:C), Bank of America (NYSE:BAC) and Deutsche Bank (NYSE:DB) are the worst offenders for removing debt from their books just before they report their quarterly earnings. Citigroup and the Federal Reserve had no comment on the story, [...]

Citigroup (NYSE:C) agreed to pay $1.5 million to settle the case where they were accused of not properly supervising employees who were under suspicion over mishandling trust fund of cemeteries located in Tennessee and Michigan, by the Financial Industry Regulatory Authority, which oversees brokerages. According to the Financial Industry Regulatory Authority, Citigroup “failed to reasonably [...]

Another political scandal is brewing in connection to the outrageous and controversial bailout of Chicago’s ShoreBank by Citigroup (NYSE:C), Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM), Morgan Stanley (NYSE:MS) and GE Capital (NYSE:GE), where it’s thought so-called community bank with strong political connections, all the way up to Obama, is receiving bailout funds [...]

Bank of America (NYSE:BAC), JPMorgan (NYSE:JPM) and Morgan Stanley (NYSE:MS) have been hired, along with Barclays Plc and Deutsche Bank AG, to manage the sale of $3 billion in bonds, which will be the largest corporate bond sale in about a month. In a prospectus filed with the Securities and Exchange Commission, Abbot Laboratories said [...]

Citigroup (NYSE:C) Michael Hart stated what everyone is thinking, and that is we’re approaching a perfect storm which could bring about a ‘double-dip’ recession. Hart said, “The eurozone sovereign crisis, a worldwide regulatory crackdown, fears of an economic slowdown in emerging markets and the possibility of a ‘double-dip’ provide the makings of a perfect storm.” [...]

News has been spreading that Goldman Sachs is close to reaching a $1 billion, or possibly higher, settlement with the SEC. That’s a total rumor, based on some people reading far more into a statement by Goldman CEO Lloyd Blankfein, when he said in an interview with the Economic Times concerning transactions the company made, [...]