Home » Archive for December, 2009
Keynesian College Economist Weenies Come to Aid of Their Hero Ben Bernanke in Opposition to Ron Paul’s Audit the Fed Bill
Evidently reading a script that was probably written by Ben Bernanke himself, a small number of college economists wrote a letter to the Senate Banking Committee and House Financial Services Committee saying the tired, worn out old... More of this article »
Lending Club Rates: How Much Will a Peer-to-Peer Personal Loan Cost You?
If you’re in the market to get a personal loan from a bank, you have a number of different options to consider. The onset of the web as a means to connect with banks and finance companies has expanded your options beyond count. When... More of this article »
Bank Of America (NYSE: BAC) Mortgage Modification Efforts Help 600,000 Borrowers Since Inception
Bank of America (NYSE: BAC) announced late Monday that it has provided relief for more than 600,000 homeowners since January 2008 through loan modification efforts. The Treasury Department’s most recent Making Home Affordable... More of this article »
Will Ron Paul Vote Against His Own Bill to Audit the Federal Reserve?
Washington has been so out of touch with principles and reality for so long, that they probably think voting for the bill initiated by Ron Paul to edit the Federal Reserve would be political feather in the cap of Ron Paul. But it looks... More of this article »
Bank of America (NSE: BAC) Executive Under Scrutiny Relating to Merrill Lynch Takeover
One of Bank of America’s (NYSE: BAC) leading candidates to become the company’s next CEO has become embroiled into an investigation relating to Bank of America’s takeover of Merril Lynch last year. New York’s attorney general,... More of this article »
Smart Trend Accurately Predicts 3% Drop for Citigroup (NYSE: C)
Smart Trend’s Power Rating called for a general down-trend in Citigroup’s (NYSE: C) share price on October 28th, 2009 when the stock price was sitting at $4.13 per share. One month later, the stock’s price has dropped by 2.9%... More of this article »
Citigroup (NYSE: C) Brokerage Upgrades Outlook on Mexico Market, Downgrades Peru
Citigroup (NYSE: C) upgraded Mexico’s stocks to a “neutral” rating and downgraded Peru to an “underweight” rating, down from a neutral rating on Tuesday in a newly released research report. In the report, Citigroup said that... More of this article »
Kuwait Sovereign Wealth Fund Rakes in $1.1 Billion in Profit After
Named the Kuwait Investment Authority (KIA), which is the sovereign wealth fund of the country, the entity, which helped Citibank (NYSE:C) with bailout funds, profited wildly when it recently sold its share in the company for $4.1... More of this article »
Citigroup (NYSE:C) Follows in Bank of America’s (NYSE:BAC) Footsteps: Seeking Permission to Pay Back TARP Funds
When Bank of America (NYSE:BAC) initiated action toward paying back the TARP funds it received, it was expected that some banks would follow behind them quickly, and that’s the case, as Citigroup (NYSE:C) is pushing the U.S government... More of this article »
UBS (NYSE: UBS) Again Allowing its Private Bankers to Visit Foreign Clients after Temporary Ban
After pressure from the U.S. government the Swiss banking regulator forced UBS AG (NYSE: UBS) and other private bankers to cease from visiting potential and existing clients across borders. Those temporary orders have now been rescinded... More of this article »
Consumer Credit Falls by $3.51 Billion in October as Spending Remains Down
A report from the Federal Reserve on Consumer credit revealed that consumers continue to focus on paying off debt and tightening up their pocket books as the recession continues to linger on. While there are those which have attempted... More of this article »
Citgroup, Inc. (NYSE: C) and Wells Fargo & Co (NYSE: WFC) At Odds with Fed over Tarp Repayment
Officials at Citigroup, Inc. (C) and Wells Fargo & Co (WFC) are in intense discussions with the U.S. government over the scope of capital requirements the banks would need to exit the Troubled Asset Relief Program (TARP). At issue... More of this article »
Bank of America (NYSE: BAC) CEO Candidate Facing Scrutiny
Greg Curl, the Chief Risk Officer for Bank of America (NYSE: BAC) and one of the leading internal candidates for the Chief Executive Officer (CEO) position at the bank is currently being sought for additional questioning by the office... More of this article »
Mad Money Host Says Government should have Cashed Out on Citigroup
CNBC’s Mad Money host, Jim Cramer, said in an interview with Erin Burnett that the United States government should have liquidated its stake in Citigroup (NYSE: C) when the share price was at $5.00. In his interview, Cramer said... More of this article »
Ron Paul Wins Key Battle to Open Federal Reserve’s Books
Representative Ron Paul won a major battle on Capitol Hill last week to shed light into the Federal Reserve’s activities with an amendment in the House Financial Services Committee’s financial-system reform bill that would begin... More of this article »
RBS (LSE: RBS) Loses More Than 1,000 Investment Bankers Over Government Interference in Bonuses
Proving that government interference in the market always has a negative impact, over 1,000 investment bankers have left the Royal Bank of Scotland (LSE: RBS.L) since the British government gave bailout funds to the bank and assumed... More of this article »
U.S. Gov’t To Slash Estimate Of TARP Cost By $200 Billion
The Obama Administration is expected to announce a drastic reduction to its cost estimate of the Troubled Asset Relief Program (TARP). The new estimate will reportedly be for a cost of $141 billion, well lower than the $341 billion... More of this article »
Federal Reserve Forcing Bank of America (NYSE:BAC) To Sell Some Businesses to Pay Back TARP Funds
As part of their deal to pay back TARP funds, the Federal Reserve has given Bank of America (NYSE:BAC) till the summer to name businesses in can sell in order to raise $4 billion in common equity. Last week the banking giant raised... More of this article »
Bank of America (NYSE: BAC) Provides 600,000 Trial Modifications to Homeowners
Bank of America (NYSE: BAC) announced on December 7th that they had provided mortgage relief via concluded and trial modifications to more than 600,000 homeowners since January of 2008 in a statement. Bank of America’s head of credit... More of this article »
JP Morgan (NYSE: JPM) Benefits from Goldman Sachs (NYSE: GS) Woes
If there’s any bank that’s benefiting from the issues that Goldman Sachs (NYSE: GS) is having, it’s JP Morgan Chase & Co (NYSE: JPM), at least that’s what one Bloomberg columnist believes. David Reilly recently penned a... More of this article »
Wells Fargo (NYSE: WFC) Refinance Rates Set to Increase before Christmas
Wells Fargo refinance rates have recently reached new all-time lows but are now beginning to creep upwards. During the last week in November, refinance rates for mortgages sat around 4.49% for 30 year fixed-rate loans. Since then,... More of this article »
Goldman Sachs (NYSE:GS) CEO Lloyd Blankfein Looking to Pay Out More Executive Compensation in Equity
With the news media, and consequently, politicians, focusing on the pay of banking executives, Goldman Sachs (NYSE:GS) CEO Lloyd Blankfein is looking at weighting their pay with more equity in order to calm the negative perceptions... More of this article »
Wells Fargo (NYSE: WFC) Names James S. Kimball as New Senior Vice President
Wells Fargo (NYSE: WFC) recently named James S. Kimball as its new regional senior vice president of its North Coast Regional Commerce Banking Office. Mr. Kimball succeeds Michael Sullivan, who will be joining the company’s Global... More of this article »