All Posts Tagged With: "Treasury Department"
U.S. Treasury Sells 1.1 Billion Shares of Citigroup (NYSE:C) Common Stock
In a press release, the U.S. Department of the Treasury announced the sale of approximately 1.1 billion shares of Citigroup (C) common stock pursuant to the completion of its second trading plan with Morgan Stanley (MS) as sales agent. To date, Treasury has sold a total of approximately 2.6 billion shares of Citigroup common stock [...]
Morgan Stanley (NYSE: MS) To Win Big in Government Sale of Citigroup (NYSE: C) Shares
Investment banking giant Morgan Stanley (NYSE: MS) will be a significant beneficiary in the US government plan to sell off its stake in Citigroup (NYSE: C) over the course of 2010. A contract between Morgan Stanley and the Treasury Department allows the company to charge a management fee for assisting in the sale of Citigroup [...]
Fannie Mae (NYSE: FNM), Freddie Mac (NYSE: FRE) Execs May Earn $6 Million, Gov’t To Withdraw $400 Billion Financial Aid Cap
According to regulatory filings, Fannie Mae (NYSE: FNM) Chief Executive Michael Williams and Freddie Mac CEO Charles Halderman Jr. are each eligible to receive compensation for 2009 that could reach $6 million. The two mortgage giants, which were taken into conservatorship in 2008 by the U.S. government, have seen plenty of debate over the past [...]
Treasury Department Can’t Afford to Sell Citigroup (NYSE:C) Shares
After announced plans to work with Citigroup Inc. (NYSE:C) to pay back the funds it received from taxpayers via the TARP program, the Treasury Department in a humiliating move had to back out of the deal to sell up to $5 billion of stock it has in the company on behalf of taxpayers because they [...]
Goldman Sachs (NYSE: GS) To Eliminate Bonuses For Few Senior Executives
Goldman Sachs (NYSE: GS) announced on Thursday that it would eliminate cash bonuses for a small number of top officers, opting to pay them instead in company stock options. The move only affects a small number of senior executives and is widely interpreted as a move to placate public anger, reduce the threat of potential [...]
Citigroup (NYSE:C) Waiting For Treasury to Sell Shares Before Repaying Final TARP Funds
Unnamed sources says Citigroup Inc. (NYSE:C) has become frustrated over the Treasury continuing to hold the shares which account for a 34 percent stake in the company, and until the government sells their shares in the company, it wouldn’t be able to pay back the $25 billion they still owe from the $45 billion they [...]
Bank of America’s (NYSE:BAC) Board of Directors to Meet Tuesday, May Discuss New CEO
The Board of Directors of Bank of America (NYSE: BAC) is slated to meet next week and may discuss a new Chief Executive Officer (CEO) to succeed the retiring Kenneth Lewis who is set to retire at the end of this year. The Tuesday meeting is a regularly scheduled one, and though no formal agenda [...]
Treasury Prices Capital One (NYSE: COF) Warrants, Taxpayers To Make $146 Million On Deal
The U.S. Treasury Department announced Friday the Capital One (NYSE: COF) warrants it is auctioning off have been priced at $11.75 per issue. The warrants have received authorization to be listed on the New York Stock Exchange under the symbol “COF WS.” Total proceeds from the auction if all warrants are sold will be $146.5 [...]
Treasury Department To Auction Off Capital One (NYSE: COF) Warrants, JP Morgan (NYSE: JPM) Warrants Likely Next
The U.S. Treasury Department announced Tuesday it plans to auction off 12.66 million warrants it holds for stock in Capital One Financial Corp (NYSE: COF). The credit card company received $3.55 billion in government bailout money last year in exchange for preferred share and warrants. Capital One has since paid back the government funds received. [...]
US Treasury Set to Auction Capital One Financial (NYSE: COF) Warrants
The United States Treasury announced on Tuesday plans to auction off 12.66 million warrants to buy stock in Capital One Financial (NYSE: COF). The auction, scheduled for Thursday (starting at 8:00am EST), is the first sale by the Treasury of assets purchased under the governments’ bank bailout program whereby banks received capital injections of [...]
Obama Administration To Push Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM), and Wells Fargo (NYSE:WFC) To Modify More Loans
The Obama Administration is expected to announce on Monday a renewed effort to encourage banks, including Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM), and Wells Fargo (NYSE:WFC) to concentrate resources and intensify their effort to modify troubled home mortgages. Increasing pressure from consumer groups, rising anger from home owners mired in limbo waiting for a decision from [...]
Battle Over Who Will Supervise American Banking System Heating Up
In what seems to be a political move to build up his political capital after being perceived as too friendly with the major banks, Senate Banking Committee Chairman Christopher Dodd (D., Conn.), has been preparing legislation which would dramatically change how the banking system in the U.S. would be supervised. But opposition has already been [...]
Editorial: Former Major Federal Banking Regulator Prof. Bill Black Says Treasury Secretary Timothy Geithner Incompetent in CIT Group (NYSE: CIT) Bailout Deal – Government Also in Full Cover-up Mode
Taxpayers are out of $2.3 billion because of the incompetent and outrageous deal Treasury Secretary Timothy Geithner made with CIT Group (NYSE: CIT) for receiving its bailout funds, according to William Black, professor at the University of Missouri-Kansas City School of Law, and former leading federal banking regulator. Black stated in an interview: “We put [...]
Editorial: Is Obama Administration Attack on Executive Pay Just Politics?
The interference by the government in executive pay at banks has drawn a growing amount of criticism as to whether it’s primarily motivated by politics and garnering favor with the public. All of this is generated by the announcement of Obama “pay czar” Kenneth Feinberg, who spewed out orders concerning what he is going to [...]
Pay Czar To Cut Compensation By 50 Percent At Seven Bailed Out Firms
Kenneth Feinberg, the White House appointed compensation watchdog, has requested large compensation cuts that are expected to be formally announced by the Treasury Department in the coming days. The reductions impact executives and top-level employees at seven firms that still hold substantial government aid. Bank of America (NYSE: BAC), Citigroup (NYSE: C), AIG (NYSE: AIG), [...]
Quaint notion, but the only thing i fear more than the Fed is whatever monstrocity replaces it. As for transparency, ...
All their employees getting laid off with no chance of getting called back in Middlebury Indiana sure don't see any ...
What is wrong with this picture. Everyone has a price of $14-15, but these clowns come out with $4-5. ...