Home » Archive for January, 2010
J.P. Morgan Chase (NYSE: JPM) Continues to Dominate Underwriting Market
J.P. Morgan Chase & Co. (JPM) led the world’s banks in the business of underwriting and selling a company’s stock. In 2009, the bank earned an estimated $2.2 billion in fees in equity capital market (ECM) underwriting, nearly... More of this article »
Prosper Marketplace Class Action Lawsuit Update – January 2010
After the SEC filed a cease and desist order against Prosper Marketplace for selling unregistered securities in 2008, a class action lawsuit was filed in the State of California against the company on behalf of Prosper lenders. You... More of this article »
Would Reinstatement of Glass-Steagall Improve Banking?
I’ve been a little surprised at the support by Congress to reinstate the Glass-Steagall Act. When US Senators John McCain and Maria Cantwell introduced the legislation, it seemed it was done more to get their names out there... More of this article »
Chinese Banks Thrive While Western Banks Dive
Banks in China have become the chief lenders in the global economy as Western banks continue to cut back on lending to practice a more defensive operational strategy in order to ride out the ongoing recession. Lending from Chinese... More of this article »
Goldman Sachs (NYSE:GS) Threatening to Sue Chinese Power Company ‘Shenzhen Nanshan Power’ for $80 Million in Contract Defaults
After a little over a year, Goldman Sachs (NYSE:GS) and Chinese Power Company ‘Shenzhen Nanshan Power’ haven’t been able to come to an agreement over to oil hedging contracts which Shenzhen defaulted on; a battle... More of this article »
Credit Card Default Rate at Bank of America (NYSE:BAC) 13 Percent Higher than Major Competitors
With losses in the Bank of America (NYSE:BAC) credit card division reaching an enormous $4.5 billion at the end of the first nine months of 2009, new CEO Brian Moynihan has his work cut out for him to turn things around in that unit... More of this article »
Citigroup (NYSE:C), Bank of America Corp. (NYSE:BAC) and Wells Fargo (NYSE:WFC) Among Top Five Stock Offerings by American Companies in 2009
After being bailed out by American taxpayers, American banks looked at how they could quickly pay back the funds and limit the interference the government would have in their companies. To that end, Citigroup (NYSE:C), Bank of America... More of this article »
BB&T Corp. (NYSE:BBT) Quietly Becoming One of Leading Banks in America
Although BB&T Corp. (NYSE:BBT) has received little recognition and press coverage through the years, that has now changed that it has been recognized as one of the top ten banks in the country. Much of the recent recognition has... More of this article »
State of Virginia to Compete with Citigroup (NYSE: C), Wells Fargo (NYSE: WFC) and Others in Payday Loan Industry
Although most consumer analysts recommend against consumers taking out payday loans, the State of Virginia has decided to encourage consumers to take out payday loans, especially the ones offered by its state government. The state... More of this article »
Citigroup (NYSE: C) and Bank of America (NYSE: BAC) Should Make Different Moves to Shore Up Credit Card Business, Says Top Analyst.
Citigroup (NYSE: C) is the only large-cap bank that should keep its credit card business, according to Richard Bove, a noted analyst from Rochdale Securities. Bove recently released a report saying that Bank of America (NYSE: BAC)... More of this article »
Will it be a Happy New Year for Bank of America (NYSE:BAC) and Brian Moynihan?
When you look at what Brian Moynihan inherits with his role as CEO of Bank of America (NYSE:BAC) today, you do wonder whether the recent joke made by outgoing CEO Kenneth Lewis to employees about Moynihan, saying, “another unique... More of this article »
British Banking and Why the Enemies of Capitalism Won’t Prevail
The British seem to never learn, as the declining country could get far worse as one of its key industries – banking – is under attack from the socialists rampant in the country. When taking into consideration the extraordinary... More of this article »