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Bank of America (NYSE: BAC) Plans New Client Service
Bank of America (NYSE: BAC), the nation’s largest lender as measured by assets, is venturing into new territory. The firm has long been committed to offering online services to it’s customers, and they have now announced... More of this article »
EU Bank Bailout Causes Stock Slide, Goldman Sachs (NYSE: GS) Investigation Compounds It
There is no joy in mudville, perhaps the EU banks have struck out. Although the European Union has committed nearly a trillion dollars to backstop the latest bank failures in Ireland, the number that it will take to correct the problem... More of this article »
Hedge Fund Offices Raided, Holders of Citigroup (NYSE: C) and JPMorgan Chase (NYSE: JPM) Stock
Federal investigators raided the offices of Diamondback Capital Management and Level Global Investors today in relation to what FBI spokesman Richerd Kolko described as “an ongoing investigation.” Both firms are headed... More of this article »
Goldman Sachs (NYSE: GS) Facing New Investigation
Goldman Sachs (NYSE: GS) has been embroiled in controversy since the height of the financial crisis nearly two years ago. Today, we learned the firm may face yet another serious challenge, as a federal investigation is underway into... More of this article »
Wells Fargo (NYSE: WFC) Settles with Citigroup (NYSE: C) Over Wachovia
Citigroup (NYSE: C) has been engaged in a dispute with Wells Fargo (NYSE: WFC) for nearly two years now. What is it over? The bank formerly known as Wachovia, of course. To finally settle the dispute, Wells Fargo & Co. has agreed... More of this article »
Blackstone Planning to buy Egg Banking from Citigroup (NYSE: C)?
Blackstone Group LP may be on a buying binge, at the right time. While the financial crisis has ravaged many of the large institutions, many of them have been forced to sell of assets in an effort to raise capital and turn their focus... More of this article »
Fed New Dividend Plan to Effect JPMorgan Chase (NYSE: JPM), Bank of America (NYSE: BAC), Citigroup (NYSE: C), and Others
Since the financial crisis of 2008, the major U.S. banks have slashed dividends in an effort to retain capital and improve operating conditions. This has contributed to the stock’s declines, as investors continue to clamor for dividends... More of this article »
Goldman Sachs (NYSE: GS) Announces New Partners
Although the firm is now formed as a Corporation, and a large public corporation in fact, the highest rank an employee can achieve remains the title of “Partner.” Partner stokes a throwback to a different time, when an employee... More of this article »
Citigroup (NYSE: C) Showing Positive Signs, Unscathed from Latest Mortgage Debacle Plaguing Bank of America (NYSE: BAC), JP Morgan Chase (NYSE: JPM), and Wells Fargo (NYSE: WFC)
It is no secret that Citigroup (NYSE: C) was on the ropes. At the height of the financial crisis, they were one of the most vulnerable banks, with high exposure to toxic debt and a basket of illiquid investments. Now though, nearly... More of this article »
Debt Worries Continue to Plague Europe
The Financial Times reported earlier today that bailout worries exist on the sovereign debt for at least three European nations. Greece, Portugal, and Ireland remain in a precarious situation while functioning at very high debt to... More of this article »
Bank of America (NYSE: BAC) Still Risky Investment
Bank of America (NYSE: BAC) continues to be a difficult read. The stock has posted gains of nearly 12% since hitting their 52-week low in late October amid the mortgage foreclosure debacle. The firm’s shares have also outperformed... More of this article »
JPMorgan Chase (NYSE: JPM) Launching Mortgage Program in Detroit
The meltdown in the housing market has devastated homeowners across the country, and coupling that with rising unemployment rates and high rate resets on adjustable rate mortgages and you have a recipe for disaster. The banking industry... More of this article »
Investors Returning to Hedge Funds
The wealthy customer is a peculiar breed in banking. They are coveted by all the major banks and financial institutions, and seemingly have the knowledge and wherewithal to be educated on and profit from the best opportunities. Due... More of this article »
Ohio AG Takes Aim at Wells Fargo (NYSE: WFC), Bank of America (NYSE: BAC), JPMorgan Chase (NYSE: JPM), and Others
Homes are being foreclosed on in record numbers, amidst the housing market collapse. Tuesday is election day, and banks have had their questionable foreclosure process and robo-signers exposed. All of this adds together to create a... More of this article »
Lehman Brothers (OTC: LEHMQ.PK) Pays CEO nearly $100,000 for July Alone
Lehman Brothers Holdings Inc. (OTC: LEHMQ.PK) may be defunct in the banking world, but is still actively winding down operations for assets not sold to Barclays (NYSE: BCS) and other firms. The firm has largely fell off the map since... More of this article »
Bank of America (NYSE: BAC) Preparing For Legal Battle, are JPMorgan Chase (NYSE: JPM) and Wells Fargo (NYSE: WFC) Next?
Bank of America (NYSE: BAC) has a mess on it’s hands. The firm badly missed earnings estimates, is struggling to cope with the new Dodd Frank financial reform legislation, and was all over the news recently for the mortgage debacle. What... More of this article »
Citigroup (NYSE: C) Continues To Shed Assets
Citigroup (NYSE: C), the mammoth banking giant created by Sandy Weill is starting to look vastly different than it was even just a few years ago. The firm once stood as the beacon of a new era in banking, where a single firm would... More of this article »
New Credit Card Strategy Needed for Bank of America (NYSE: BAC), JPMorgan Chase (NYSE: JPM), and Others
When you’re twenty years old and you get a credit card offer, many people anxiously sign up. When you’re forty years old, consumers become much more jaded and the offer is more likely to end up in the trash bin. Marketing to customers... More of this article »
Goldman Sachs (NYSE: GS) Repaying Buffett Early?
Goldman Sachs (NYSE: GS) was on the ropes two years ago and looking for a savior. While their stock price was plummeting the firm sought to restore confidence and stability by gaining an investment from a big name. The biggest name... More of this article »
Bank of America (NYSE: BAC) Continues Rebound
Bank of America (NYSE: BAC) has seen it’s stock price battered in recent weeks. Although loan loss write offs are down, and the worst of the financial crisis may be behind us, Bank of America has continued to struggle mightily.... More of this article »
Compensation Down at Goldman Sachs (NYSE: GS) and Deutsche Bank (NYSE: DB)
Now that earnings season is over, there is a plethora of information to digest. In the world of investment banking, compensation levels always exists near the top of the list. Following this quarter’s disclosures, an interesting... More of this article »
Federal Reserve Seeking To Block Details of Bailouts to JPMorgan Chase (NYSE: JPM), Citigroup (NYSE: C), Bank of America (NYSE: BAC), and Others
The details around the bank bailouts have been rather hazy to date. Although JPMorgan Chase (NYSE: JPM), Citigroup (NYSE: C), Bank of America (NYSE: BAC) and many others were given cash by the treasury department, few know the full... More of this article »
Citigroup (NYSE: C) Exec Forgetful In Court
David Wormsley, an executive at Citigroup (NYSE: C) had a bought of forgetfulness today. While Wormsley was on the witness stand today, he seemed to have a difficult time trying to recall his role in the acquisition of music company... More of this article »