Home » Archive for December, 2009
Citigroup (NYSE: C) Repaying TARP, Positive Sign or Avoiding Pay Restrictions?
In a move that was telegraphed worse thane one of Josh Freeman’s passes, Citigroup (NYSE: C) announced earlier today that it will be repaying the $20 billion it received in the TARP program during the last twelve months. Concurrently,... More of this article »
Bank Of America (NYSE: BAC) To Increase Lending By $5 Billion In 2010, Follows JP Morgan’s (NYSE: JPM) Similar Pledge
Shortly after President Obama finished telling big bank executives they need to explore every option available to increase lending, Bank of America (NYSE: BAC) announced it will increase lending to small and mid-sized business by $5... More of this article »
Independent Community Bankers Want TARP Focused On Main Street Banks
The Independent Bankers Association of America (ICBA) urged the Obama Administration last week to focus Troubled Asset Relief (TARP) funds on main street community banks. TARP was recently extended to October 3, 2010. The ICBA believes... More of this article »
Compensation Appears to be the Last Hurdle Between Bank of America (NYSE: BAC) and Robert Kelly
The Wall St. Journal reported that compensation seems to be the primary obstacle between Bank of America Corp. (BAC) and their pursuit of a successor for outgoing CEO Kenneth Lewis. According to sources close to the negotiations, Robert... More of this article »
JP Morgan Chase (NYSE: JPM) Makes 143,027 in HAMP Related Loan Modifications
A new report from the government’s Financial Stability.gov website has released new loan modification numbers for JP Morgan Chase (NYSE: JPM) for the government’s Making Home Affordable Plan. The newly released data represents... More of this article »
Citigroup (NYSE: C) Announces Plans to Repay $20 Billion in Debt Related to Troubled Asset Relief Program
Citigroup, the recipient of the largest bank bailout in American history, has struck a deal with federal regulators to repay $20 billion to taxpayers to free itself from pay restrictions imposed by the Treasury Department. Citi, the... More of this article »
Citigroup (NYSE: C) Reaches $20.5 Billion Agreement to Pay Back TARP
Stating that it was in “a position to support the economic recovery,” Citigroup (C) Chairman and Chief Executive Vikram Pandit formally announced its agreement with the Treasury Department to exit the Troubled Asset Relief Program... More of this article »
Morgan Stanley (NYSE:MS) Asia Chairman Stephen Roach Says Federal
At a recent conference in Berlin, Morgan Stanley (NYSE:MS) Asia Chairman Stephen Roach said that the Federal Reserve is the “weak link” among central banks, and they could create another financial crisis, beyond the one... More of this article »
Criminal Cyberhackers Drain $40 Million from US Bank Accounts in 2009
Most of us know about the threat faced by criminals working to steal our credit card numbers, but a growing threat to our capital has grown from these cyberhackers who have figured out a number of ways to access corporate bank accounts... More of this article »
Bank Closings for 2009 Surge to 133 as FDIC Seizes Three More
The Federal Deposit Insurance Corp. (FDIC) seized three more banks on Friday, bringing the total for the year to 133, with hundreds more on the problem bank list for next year, which could see a lot more failures going forward. This... More of this article »
Democrats Continue to Push Fascist Banking Regulation Agenda
Democrats continue their controversial slide away from liberty and freedom, as they move toward a fascist government, which they seek to embed in the economic system of America. Fascism, as Paxton wrote, deals with a “form of... More of this article »
Citigroup (NYSE: C) Could Exit TARP with Strong Capital Reserves
United States Treasury Secretary Timothy Geithner said on Thursday that the government doesn’t want banks to repay their TARP liabilities if it leaves them short on capital, but that may not be a problem for Citigroup (NYSE:C). During... More of this article »
President Obama Calls JP Morgan (NYSE: JPM), Citigroup (NYSE: C), Bank of America (NYSE: BAC) Executives “Fat Cats” that “Don’t Get It”
President Obama and his team of economic advisors lashed out at large-cap banks calling bank executives “fat cats” that “don’t get it” in a move that will certainly escalate tensions between the nation’s largest banks ahead... More of this article »
Will Citibank (NYSE:C), JPMorgan (NYSE:JPM), Others, Regret Connections to Corrupt ACORN Organization?
In an attempt to hide its activities from the investigation of California Attorney General Jerry Brown, ACORN dumped thousands of documents into a dumpster which could result in class action lawsuits against banks working with the... More of this article »
Canadian Finance Minister Jim Flaherty Says ‘No’ to Proposed International Tax on Bank Bonuses
The Finance Minister of Canada, Jim Flaherty, is rightly rejecting proposals from some leaders of the G8 for an international tax on bank bonuses, as he’s not interested in ‘punishing’ those who work in a highly profitable... More of this article »
U.S. Federal Judge Declares Swiss Banker, Lawyer Fugitives From Justice
In its ongoing attack on the Swiss banking system, the U.S. continues to pursue alleged cases of Swiss bankers helping Americans hide assets in Swiss banks. The most recent has U.S. District Judge Daniel T.K. Hurley declaring Swiss... More of this article »
JP Morgan Chase (NYSE: JPM) Helps Feeding America Org., Donates $5 Million
JP Morgan Chase (NYSE: JPM) announced Thursday that its Chase unit has donated $5 million to Feeding America, which is the country’s largest hunger relief organization. According to Feeding America, the donation marks the largest... More of this article »
Jim Rogers: “The Fed is making our lives miserable … Audit It, Then Abolish It”
Saying the Federal Reserve is the only institution in the world he knows of that isn’t audited, famed investor and author Jim Rogers said in an interview, “It’s incomprehensible to me these people are saying they... More of this article »
Citigroup’s (NYSE:C) Pandit Pushing Hard for TARP Repayment Agreement
With public sentiment strong against the companies that have received TARP funds, the stigma associated with it, and the government interference that accompanies it, Citigroup Inc. (NYSE:C) CEO Vikram Pandit has been pushing hard to... More of this article »
Will Institutional Investors Return to Citigroup? (NYSE: C)
Institutional stock ownership in Citigroup (NYSE: C) has dropped significantly as major investment units have pulled out of the firm. Currently, only 20% of Citigroup’s shares are owned by institutional investors, but an exit of... More of this article »
Treasury Departments Limits Salary of Mid-Level Executives at Citigroup (NYSE: C), AIG (NYSE: AIG), General Motors (NYSE: GM), Chrysler, and GMAC (NYSE: NYSE:GMA).
The Treasury Department’s Paymaster Kenneth Feinberg is now taking aim at compensation packages for mid-level executives at several firms including Citigroup (NYSE: C), AIG (NYSE: AIG), General Motors (NYSE: GM), Chrysler, and GMAC... More of this article »
Troubled Asset Relief Program (TARP) to be Extended by Obama Administration
The use of taxpayer dollars to bail out Wall Street will continue, as Treasury Secretary Timothy Geithner, talking to a watchdog panel on Thursday said the Obama Administration will extend the highly controversial and unpopular bailout... More of this article »
Wells Fargo (NYSE: WFC) Says Home Loan Modification Efforts Progressing
Wells Fargo & Company (NYSE: WFC) issued a press release on Thursday detailing how it continues to reduce the number of home foreclosures throughout the nation with the use of the federal Home Affordable Modification Program (HAMP) Through... More of this article »