In a 2,200 page report, the U.S. Trustee appointed examiner said that JP Morgan Chase (NYSE: JPM) and Citigroup (NYSE: C) helped cause the demise of Lehman Brothers by changing guarantee agreements and requiring more capital from the defunct investment bank.
Anton Valukas, filed the report in a Manhattan federal court on Thursday, which details a [...]
All Posts Tagged With: "Citigroup Inc. (C)"
Citigroup (NYSE:C), JP Morgan (NYSE: JPM) Helped Spark Lehman’s Collaspe
Citigroup (NYSE:C) CFO Says Employee Pay Will Be Competitive in 2010
The Chief Financial Officer (CFO) for Citigroup (NYSE:C), John Gerspach, stated unequivocally at a conference on Thursday that employees of the bank were paid competitively in 2009 and could expect to see similar pay in 2010. The statement came at a conference hosted by Credit Suisse, and comes at a time when the banking giant [...]
February 12th, 2010 | John | Comments | Continued
Citigroup (NYSE: C) Aims To Sell Private Equity Unit, Continue Debt Reduction
In an effort to continue cutting debt, Citigroup Inc (NYSE: C) is aiming to sell of spin-off its Citi Private Equity unit, which manages about $10 billion in funds. Word of the move came from people familiar with the situation, according to a Bloomberg report on Sunday.
The private equity unit is about 10-years old and [...]
JP Morgan (NYSE: JPM) To Open Global Corporate Bank Unit, Challenge Citigroup (NYSE: C) and HSBC
JP Morgan Chase (NYSE: JPM) plans to launch a new unit focused on global business, emphasizing the sale of loans and commercial banking services to international corporations, according to a Financial Times Report.
The unit would expand JP Morgan’s business borders and put it in direct competition with Citigroup (NYSE: C) and HSBC. According to people [...]
Big Banks Like Bank of America (NYSE: BAC) and Citigroup (NYSE:C) Still Quietly Using Government Money
Big banks like Bank of America (NYSE: BAC) and Citigroup (NYSE:C) are still using free government money, in the form of low interest loans from the Temporary Liquidity Guarantee Program (TLGP), guaranteed by the FDIC. So while CEOs and industry spokespeople decry the government for its “interference” despite the fact they’ve paid back their TARP [...]
January 28th, 2010 | John | Comments | Continued
Meeting Expectations? Citigroup (NYSE: C) Reports a 4th Quarter Loss That Accounts for TARP Repayment and 36% Decrease in Loan-Loss Provisions
In a reversal of the first three quarters of 2009, Citigroup Inc (C) reported a fourth-quarter loss of $7.58 billion, meeting analyst recommendations.
The loss, a marked contrast from the $175 million in earnings that Citi reported in the third quarter, was highlighted by $6.2 billion in items related to its repayment of government aid.
The $7.6 [...]
Obama Plans Bank Tax On AIG (NYSE: AIG), Bank Of America (NYSE: BAC), Citigroup (NYSE: C) And Other Big Banks To Recoup TARP Losses
President Obama is planning to announce Thursday a bank tax on 50 of the nation’s largest financial institutions in order to recoup losses from the bank bailout. The tax would be applicable to any institution with more than $50 billion in assets and would kick in on June 30.
News of the possible tax broke after [...]
J.P. Morgan Chase (NYSE: JPM), Morgan Stanley (NYSE: MS), Bank of America (NYSE: BAC) and Citigroup (NYSE: C) Expected to Report Declines in 4th Quarter Earnings
Analysts are cautioning that fourth-quarter investment banking earnings suffered a significant “early Christmas” slowdown on the back of falling fixed-income revenues. The warnings come just days before the start of the financial sector’s reporting season.
Analysts at J.P. Morgan (JPM) and Morgan Stanley (MS) issued reports Tuesday on the banking industry in which they estimated that [...]
NY Attorney General Cuomo Seeks Bonus Info From Bank Of America (NYSE: BAC), Citigroup (NYSE: C), JP Morgan Chase (NYSE: JPM), And Others
Amidst public displeasure and regulatory scrutiny over bonus payments, several large U.S. banks received a letter from New York Attorney General Andrew Cuomo requesting information on bonus allocations. The letter went to eight of the nation’s largest banks that received taxpayer money.
Bank of America (NYSE: BAC), Bank of New York Mellon (NSYE: ), Citigroup (NYSE: [...]
Americans Continue To Slash Credit While Bank Of America (NYSE: BAC) And Citigroup (NYSE: C) Battle Credit Card Defaults
Though many major banks, such as Bank of America (NYSE: BAC) and Citigroup (NYSE: C) continue to report double-digit credit card default rates, Americans have also continued to cut down total credit levels. The Federal Reserve announced Friday that U.S. consumer credit dropped $17.5 billion in November, marking the largest monthly drop on record.
Just last [...]
U.S. Credit Card Defaults Rise In November; Citigroup (NYSE:C), Bank Of America (NYSE: BAC) Lead The Way, While AMEX (NYSE: AXP) Improves
After falling a month earlier, financial institutions reported rising credit card defaults in November. Bank of America (NYSE: BAC) still leads all big banks with a 13 percent default rate, but Citigroup (NYSE: C) posted the largest rise as defaults jumped 1.5 percent to top 10 percent in November.
JP Morgan Chase (NYSE: JPM), the nation’s [...]
Robert Kennedy who always said the stock will go to $2 level is working on behalf for this website. Don't ...
Dont' ever trust this AMERICAN BANKING NEWS website anymore. This site losts all the credibility and never tell the truth. ...
Pandit's comments were misleading at best. Of course the bank is profitable if you cherry pick the good stuff.