Home » Archive for December, 2009
Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) Receive Treasury Support, Disclose Executive Pay Packages
It looks like it is a Merry Christmas and Happy New Year for Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE). Shares of both firms soared at times today, as the Treasury Department announced what basically sounds like a blank check... More of this article »
Investment Banks Look to China for Growth in 2010
As 2009 draws to a close, investment bankers are focused on bonuses, league-table standings, and of course: what will happen next year. Similar to the rest of the economy, the biggest issue on many bankers’ minds is China. While... More of this article »
Bank of America (NYSE: BAC) Taps Internal Candidate for CEO Role
With Ken Lewis set to step down from the CEO role at Bank of America (NYSE: BAC) on Thursday, his replacement is now in sight. Bank of America has appointed an internal successor, senior executive Brian Moynihan as its new chief executive... More of this article »
Citigroup (NYSE: C), SunTrust (NYSE: STI) Look Towards 2010, Cost Cutting In Mind
As 2009 comes to a close, analysts are looking ahead to 2010, and trying to decipher what to expect. Banking, which in recent years became a symbol of free spending, seems to have reigned that in. Nearly every major public bank has... More of this article »
Federal Reserve Considers Term-Deposits To Help Reign In Excess Bank Reserves
The Federal Reserve announced Monday that it is considering the use of a term-deposit program that would motivate financial institutions to park excess reserves at the central bank. The move is being considered as the Fed ponders... More of this article »
Prosper.com Horror Stories and Experiences: How Prosper’s History is Unfolding
Prosper Marketplace was the first peer-to-peer lending institution to gain any serious traction in the United States. During its first couple of years before the SEC cracked down on the company for selling unregistered securities,... More of this article »
LendingClub Lending Match: Should You Use Lending Match To Pick Your Loans?
Lending Club is a peer-to-peer lending firm that allows individuals to partially fund unsecured loans to borrowers and earn an interest rate as profit. Many investors choose to individually pick the loans that they want to fund, but... More of this article »
Prosper.com Complaints: How Prosper Marketplace Could Improve Their Service
Prosper Marketplace (Prosper.com) is a peer-to-peer lending service that allows individuals to make loans to one another using their website. Lenders can opt to partially fund loans at specific interest rates and borrowers can get... More of this article »
Peer-to-Peer Loans: Is Lending Club, Wells Fargo (WFC), or Citigroup (C) the Best Option for Online Personal Loans?
If you are looking to get a peer-to-peer loan to pay for a major purchase or to consolidate debt, you have a number of options available to you including peer-to-peer loans, unsecured loans from banks, and other online personal loans.... More of this article »
New report shows Citigroup (NYSE: C) and SunTrust (NYSE: STI) face more belt-tightening in 2010
Flurries of new regulations are adding expenses. Failing loans are cutting into revenue. It’s a recipe for continuing budget cuts for many banks. A report by research firm SNL Financial confirms that cost-cutting is the new normal... More of this article »
Banning ‘Phantom Votes’ Gives Shareholders More Say in Who Will Be Bank Board Members
Voting for bank boards should definitely be a more interesting as new rules regarding “phantom votes” by the New York Stock Exchange will give shareholders more say in who ends up seated on the board. This will of course... More of this article »
Goldman Sachs (NYSE:GS) Files with U.S. Securities and Exchange Commission for New Exchange Traded Funds
Exchange traded funds are an increasingly popular investment sector, and to take advantage of the growing market, Goldman Sachs (NYSE:GS) has filed for regulatory approval with the U.S. Securities and Exchange Commission to launch... More of this article »
Citibank (NYSE:C) Ending Credit Card Financing for Struggling Zale Corp. (NYSE:ZLC)
With sales continuing to plunge for specialty jewelry retailer Zale Corp. (NYSE:ZLC), Citibank (NYSE:C) will no longer provide financing for the credit cards of the company as of March 2011. according to a regulatory filing at the... More of this article »
Former Bank of America (NYSE: BAC) Executives Looking to Buy Banks
Former Back of America (NYSE: BAC) CEO Hugh McColl and former CFO Mark Oken, is one of a group of investors looking to raise as much as $600 million to purchase banking assets in Florida. Falfurrias Capital Partners, a Charlotte-based... More of this article »
Citigroup (NYSE: C) and Bank of America (NYSE: BAC) to Avoid Feinberg Pay Rulings in 2010
Citigroup (NYSE: C) received notice from the federal government that they will not be subject to rulings from the Treasury Department’s paymaster Kenneth Feinberg in 2010. Bank of America (NYSE: BAC) had previously received confirmation... More of this article »
FBI Probing Electronic Theft of Tens of Millions of Dollars from Citigroup (NYSE: C)
The Federal Bureau of Investigation is investigating a hack on Citigroup’s (NYSE: C) network that led to the theft of tens of millions of dollars, according to a new report from the Wall Street Journal. In a defensive move, Citigroup... More of this article »
Will U.S. Economy Really Rebound 4 to 5 Percent In 2010 As Many Analysts Expect?
Coming out of the past recession many analysts have become somewhat bold with rebound predictions for 2010, forecasting 4-5 percent GDP growth in the U.S. economy for 2010. Historically, the year following the end of a recession has... More of this article »
Prosper Mobile: Prosper.com Launches Mobile Peer-to-Peer Lending Marketplace
Prosper.com, also known as Prosper Marketplace, has released the mobile version of their peer-to-peer lending service. Prosper Marketplace’s new mobile website is targeted clearly toward the lending side of peer-to-peer lending.... More of this article »
Prosper.com Competitors: Who is the Prosper Marketplace Up Against?
Prosper.com, also known as the Prosper Marketplace, was the first company in the United States to launch a significant online peer-to-peer lending service that connects borrowers and lenders. Since the company was launched in 2006,... More of this article »
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,... More of this article »
FDIC Receives Welcome News – Mulitple Bidders For Troubled Loan Portfolio
The FDIC has received bids from over a dozen investors for a $1.1 billion dollar package of commercial real-estate loans that they acquired from various failed banks. The portfolio consists of mostly nonperforming commercial property... More of this article »
Citigroup (NYSE: C) Repays $20 Billion In TARP Funds
Citigroup Inc. (NYSE: C) announced Wednesday that it has repaid the $20 billion it received from the government last year as part of the Troubled Asset Relief Program (TARP). The move frees the bank from employee pay restrictions... More of this article »
Wells Fargo (NYSE: WFC) Makes Final Payment on TARP Funds
Wells Fargo (NYSE: WFC) announced Wednesday that they’ve completely paid off the TARP funds it received from the federal government, which amounted to $25 billion. The U.S. Treasury acquired $25 billion of series D preferred... More of this article »