Home » Archive for January, 2010
Goldman Sachs (NYSE: GS) Reportedly Will Give Bonus Recipients a Mandatory Floor for Charitable Giving
It’s been a bad year to work at Goldman Sachs. No bank draws the ire of American taxpayers like the Wall Street icon. They received over $12.9 billion when AIG was bailed out by the U.S. government. And with expectations that Goldman... More of this article »
JP Morgan (NYSE: JPM) Launches Accounts Payable Program To Assist Small And Mid-Sized Businesses
JP Morgan Chase (NYSE: JPM) announced this week the launch of its Order-to-Pay Rapid Deployment platform, which is designed to eliminate the complexity of managing accounts payable for small and mid-sized businesses. The platform... More of this article »
Investment Banking Earnings to Plunge at Bank of America (NYSE:BAC), Citigroup (NYSE:C), JPMorgan (NYSE:JPM) and Goldman Sachs (NYSE:GS) for Fourth Quarter
Even while the newly created banking committee has been searching for answers concerning the credit and banking crisis, and pressure grows to separate retail and investment banking, the investment banking sector has been getting clobbered,... More of this article »
Bank of America (NYSE:BAC) CEO Brian Moynihan Says “Too Big to Fail” Not the Issue
Bank of America (NYSE:BAC) CEO Brian Moynihan has seen the potential risk inherent in the dissatisfaction with huge banks in the United States, and he’s come out swinging since his installment of CEO of the company, replacing... More of this article »
JPMorgan’s (NYSE:JPM) Jamie Dimon Joins Bank of America’s (NYSE:BAC) Brian Moynihan in Saying Bank Size Wasn’t Reason for Economic Crisis
Testifying at the Financial Crisis Inquiry Commission – a 10-member panel created by Congress to find out the reasons behind the economic crisis – JPMorgan’s (NYSE:JPM) CEO Jamie Dimon reiterated what Bank of America’s... More of this article »
J.P. Morgan Chase (NYSE: JPM), Morgan Stanley (NYSE: MS), Bank of America (NYSE: BAC) and Citigroup (NYSE: C) Expected to Report Declines in 4th Quarter Earnings
Analysts are cautioning that fourth-quarter investment banking earnings suffered a significant “early Christmas” slowdown on the back of falling fixed-income revenues. The warnings come just days before the start of the... More of this article »
Financial Crisis Committee Hearing In Full Swing, Goldman Sachs (NYSE: GS) CEO Blankfein Faces Questions, Bank of America (NYSE: BAC) CEO Moynihan Still On Deck
The Financial Crisis Inquiry Commission began its public hearing Wednesday with executives from the nation’s top banks. The Bipartisan panel has already began questioning Goldman Sachs (NYSE: GS) CEO Lloyd Blankfein and is set... More of this article »
Citigroup (NYSE:C) Set to Launch Investment Banking in Malaysia
Citigroup (NYSE:C) has been approved to do investment banking in Malaysia, as it announced it had been awarded a stockbroker license from the Securities Commission of the country. Estimates are it’ll take about six months for... More of this article »
Profits from REITs Highlight Positive in Bank of America Corporation’s (NYSE: BAC) Purchase of Merrill Lynch
The latest headlines regarding Bank of America Corporation’s (BAC) purchase of Merrill Lynch & Co. overlook the huge profits that the combined banks have made in real-estate investment banking. The addition of Merrill Lynch,... More of this article »
Bank of America (NYSE:BAC) CEO Brian Moynihan Reportedly Demoting Chief Risk Officer Gregory Curl – Other Management Announcements Soon
Now that Bank of America (NYSE:BAC) CEO Brian Moynihan is starting to settle down a little into his new job, he’s starting to think in terms of the team he wants in place at the top of the company, and evidently one of his competitors... More of this article »
SEC Seeks to Add More Charges Against Bank of America (NYSE:BAC) in Merrill Lynch Bonuses Trial
In an interesting twist to a trial neither the Bank of America (NYSE:BAC) or the Securities and Exchange Commission (SEC) wanted, the SEC has asked U.S. District Judge Jed Rakoff for permission to add new charges against the bank,... More of this article »
NY Attorney General Cuomo Seeks Bonus Info From Bank Of America (NYSE: BAC), Citigroup (NYSE: C), JP Morgan Chase (NYSE: JPM), And Others
Amidst public displeasure and regulatory scrutiny over bonus payments, several large U.S. banks received a letter from New York Attorney General Andrew Cuomo requesting information on bonus allocations. The letter went to eight of... More of this article »
Goldman Sachs (NYSE:GS) Sued By Two Pension Funds Over Bonuses
The divisive issue of bonus payments to investment bankers reared its head again as it was announced that Goldman Sachs (NYSE:GS) is being sued by two pension funds over planned bonuses paid to employees. The plaintiffs in the lawsuit,... More of this article »
Lending Club Legit: Are Lending Club and Prosper a Legitimate Investment?
With the regulatory issues that peer-to-peer lending companies including Prosper Marketplace and Lending Club went through in 2008 and early 2009, many curious investors have asked about Lending Club’s legitimacy and Prosper Marketplace’s... More of this article »
Lending Club Taxes: What Taxes You Have to Pay on Lending Club Earnings
Unless you are investing through a tax-advantageous investment account, you have to pay taxes on your earnings either in the form of ordinary income or in the form of capital gains. This is also true for peer-to-peer lenders that are... More of this article »
Shakeup Begins at Bank of America (NYSE: BAC); Curl’s Duties Limited
The Wall Street Journal is reporting that new Chief Executive Officer Brian Moynihan is expected to make his first major restructuring announcement at Bank of America (BAC). Moynihan is expected to announce a new, diminished role for... More of this article »
JPMorgan (NYSE:JPM) Leads Top Banks, including Bank of America (NYSE:BAC), Citigroup (NYSE:C) Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) in Bonuses
Among the five largest banks in America, JPMorgan (NYSE:JPM) led the way concerning how much they set aside for bonuses in the first nine months of 2009, with an approximate $29 billion total. All together, the five banks reserved... More of this article »
SEC Files Additional Charges Against Bank of America (NYSE: BAC) In Merrill Lynch Merger
The Securities and Exchange Commission (SEC) announced Monday that it is expanding charges against Bank of America (NYSE: BAC) for the lack of financial disclosures to shareholders when seeking approval of Merrill Lynch merger. The... More of this article »
Auto Trade Publication Ranks Bank of America (NYSE: BAC) Online Auto Financing Customer Service Best
Bank of America (NYSE: BAC) announced last week that its auto eLending website has been rated number one in customer service for online auto financing by a leading trade publication. Auto Finance News ranked Bank of America’s website... More of this article »
Citigroup (NYSE:C) Replaces North American Retail Banking Head Teresa Dial with Manuel Medina-Mora
Citigroup (NYSE:C) has relieved Teresa Dial as head of their retail banking division in North America with Manuel Medina-Mora. Dial used to work as a retail banker for Wells Fargo (NYSE:WFC) and Lloyds of London (LLOY.LN). Dial was... More of this article »
Citigroup (NYSE:C) Replaces Another Top Manager – This Time in Japan
It looks like Citigroup (NYSE:C) has shown the hand it’s going to play going forward, as it is focusing on strongly shoring up its international operations, and as other major banks, realize the domestic U.S. market isn’t... More of this article »
Why Small Business Lending from Bank Of America (NYSE:BAC), JPMorgan (NYSE:JPM) Wells Fargo (NYSE:WFC) and CitiGroup (NYSE:C) Doesn’t Guarantee Job Creation
Sometimes it’s a little frustrating to read and listen to clueless so-called financial and/or business journalists, as they regurgitate the stupid idea that government bailouts or big banks lending out money will help create... More of this article »
Citigroup’s (C) GTS Global Footprint Complicates Downsizing Efforts
A little known unit with Citigroup, Inc. (C) is illustrating that the “too-big-to-fail” bank may not be too big when its primary client is the U.S. Government. The Wall St. Journal reports that Citigroup’s Global Transaction... More of this article »