Home » Archive for November, 2009
Bank of America (NYSE: BAC) Seeks CEO, Location Negotiable
Bloomberg reported Tuesday morning that the Bank of America (NYSE: BAC) board of directors has expanded its search for the bank’s next CEO to include people who want to live and run the company from New York, not its current... More of this article »
British Chancellor Reveals Details of New Bailout for Royal Bank of Scotland (LON: RBS) and Lloyds Banking Group (LON: LYG)
There have been rumors that there would be a major shakeup in the Royal Bank of Scotland (LON: RBS) and Lloyds Banking Group (LON: LYG), and now British Chancellor, Alistair Darling, announced the decision to inject an additional £25.5... More of this article »
Citibank (NYSE: C) Stock Price Hits 3 Month Low
Shares of Citibank (NYSE: C) dropped by 4% on Monday and fell below $4.00 by the end of the trading day. Citibank has been hammered with a number of negative news stories over the last couple of weeks that have caused its stock price... More of this article »
Small Banks and Credit Unions Ramping Up Marketing Campaigns against Huge Banks like Wells Fargo (NYSE: WFC) and Bank of America (NYSE: BAC)
Sensing an unprecedented opportunity to gain market share against banking behemoths like Wells Fargo (NYSE: WFC) and Bank of America (NYSE: BAC), small banks and credit unions have been diligently pursuing American consumers who have... More of this article »
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... More of this article »
Federal Reserve Official Says Banks have More Real Estate Trouble Coming
The strong headwinds that are facing financial institutions in the United States will likely continue from some time, said a Federal Reserve official on Monday, suggesting that struggles in the commercial and residential real estate... More of this article »
JP Morgan Chase & Co’s (NYSE: JPM) New Investment Banking Chief Announces Management Reorganization Plan
JP Morgan Chase & Co (NYSE: JPM) recently named Jes Staley as it’s a new head for its investment banking division and Staley is reorganizing the unit that combines its various fixed income businesses under two co-manages, according... More of this article »
JP Morgan Chase (NYSE: JPM), Citibank (NYSE: C), Goldman Sachs (NYSE: GS), Morgan Stanley (NYSE: MS) CEOs Meet with Federal Reserve Over Pay Packages
The Federal Reserve met privately with top banking officials at JP Morgan Chase (NYSE: JPM), Citibank (NYSE: C), Goldman Sachs (NYSE: GS), Morgan Stanley (NYSE: MS) and others on Monday to discuss new compensation rules and to urge... More of this article »
Citibank (NYSE: C), Bank of America (NYSE: BAC), Wells Fargo (NYSE: WFC) and JP Morgan Chase (NYSE: JPM) Hording Cash to Improve Liqudity
The four largest U.S. banks in terms of assets, Bank of America (NYSE: BAC), JP Morgan Chase (NYSE: JPM), Citibank (NYSE: C) and Wells Fargo (NYSE: WFC) are, in response to the financial crisis, hoarding more cash than they have in... More of this article »
Britain to Break Up Lloyds (LON: LLOY) and Royal Bank of Scotland (LON: RBS)
In hopes of adding competition to the banking sector, Britain’s Labour government is set to propose the breaking up of Lloyds Banking Group (LON: RBS) and the Royal Bank of Scotland (LON: RBS) and will sell pieces of Lloyds and RBS... More of this article »
CIT Group (NYSE: CIT) Files For Chapter 11 Bankruptcy Protection
Just two weeks after announcing major debt restructuring plans in an effort to avoid bankruptcy proceedings; CIT Group (NYSE: CIT) announced it has filed for Chapter 11 bankruptcy protection. The lender received overwhelming support... More of this article »
Ron Paul: Bank-Connected Democrat Mel Watt Strips H.R. 1207 of Almost Everything
With most Americans outraged over the behavior of the Federal Reserve and the part it has played in the bailouts of huge institutions in the financial and automotive industries, Ron Paul introduced H.R. 1207, which would have required... More of this article »
Financial Stocks Weekly Market Preview for BAC, JPM, WFC, C, CIT, GS, GFIG
Here’s what could be in store for some of the largest financial firms in the United States including Bank of America (NYSE: BAC), JP Morgan Chase (NYSE: JPM), Wells Fargo & Co (NYSE: WFC), Citigroup (NYSE: C), CIT Group (NYSE:... More of this article »