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Waves of Criticism Keeps Rolling In for Citigroup (NYSE: C), JPMorgan (NYSE: JPM), Bank of America (NYSE: BAC) and Others
Recently, there have been grass root attempts at punishing the ‘big bad banks’. Arianna Huffington has been striving to implore savers to move deposits out of them and into local community banks. While supporting local... More of this article »
How Much is a Security Blanket worth for Bank of America (NYSE: BAC), Citigroup (NYSE: C), and Wells Fargo (NYSE: WFC)?
How much is a security blanket worth? Perhaps, billions. The nations largest banks have long operated with a safety net, and during the financial crisis that net became even stronger and more obvious. The banks were deemed too big... More of this article »
Citigroup (NYSE: C) Continues to Restructure, IPO for Primerica
Citigroup (NYSE: C) continues to restructure the firm as it continues to rise out of the ashes. The firm is rapidly shedding assets and building liquidity, which should bode well for it in the coming years. The financial behemoth became... More of this article »
JP Morgan Chase (NYSE: JPM) Planning Global Corporate Bank
Throughout the financial crisis, JP Morgan (NYSE: JPM) has been heralded as the beacon of light on Wall Street, managing to insulate itself from the subprime mess that rocked Citigroup (NYSE: C) and others along the way. Through that... More of this article »
Goldman Sachs (NYSE: GS) Gets Innovative On Compensation
No matter how you feel about Goldman Sachs (NYSE: GS), you must admit that they are innovative, if nothing else. While Main Street calls for the blood of bankers, Goldman is in a difficult position to show some contrite behavior, yet... More of this article »
Treasury Discloses New Bank Injections
The Treasury Department announced today that it has injected $29.3 Million into 10 banks on Tuesday, which will be the last institutions to receive investments from the taxpayer funded program established last year to fortify the financial... More of this article »
Wells Fargo (NYSE: WFC) Execs Will Not Receive Cash Bonuses
As the year draws to a close, the bonuses earned on Wall Street receive significant attention. In past years, these funds trickled down and provided booms for high end real estate in New York, Ferrari dealerships in Greenwich, and... More of this article »
Too Big to Fail? Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) are Apparently Too Big to Shrink
Last week, the government pledged essentially unlimited support to Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE), in an effort to ensure the housing market does not unravel further. Through this effort, the Treasury Department... More of this article »
GMAC Getting Bailed Out (Again)
As all the major national banks have repaid the TARP funds, it could be easy to assume that the financial crisis is over and we’re on the front porch of normalcy – but, don’t be so fast. The recession and financial... More of this article »
Credit Cards Find New Ways to Gouge Customers
It seems that the tale of their demise has been greatly exaggerated. The tale, of course, relates to predatory practices by credit card companies. Many were hopeful that the Credit Card Act of 2009 would finally put an end to the abusive... More of this article »
Troublesome November Credit Card Report Emerges
Throughout the financial crisis, we have been waiting for the last show to drop: credit card defaults. Nearly all of the major banks have entered the credit card industry in recent years, joining forces with Visa to issue cards regionally,... More of this article »
Robert Kelley, CEO of Bank of New York Mellon (NYSE: BK) Under Fire
The role of CEO for a bank has never come under such scrutiny in modern history. Venerable institutions like Citigroup (NYSE: C) replaced their CEO Chuck Prince just last year, Bank of America (NYSE: BAC) finally has Ken Lewis’ replacement... More of this article »
JPMorgan (NYSE: JPM) Reconsidering London Presence?
Let’s tax those Wall Street pigs. They’ll stay here and just pay right? Well, not so fast… The populist vengeance aimed at Wall Street has brought on many policies that are grossly anti-capitalist, but the most egregious can... More of this article »
JPMorgan (NYSE: JPM) Suing Former Executive
When Willie Sutton was asked why he robbed banks, he replied “because that’s where the money is.” It seems that not much has changed in almost eighty years. JPMorgan Chase & Company (NYSE: JPM) said on Monday that it has... More of this article »
Swiss Banking in Jeopardy?
Historically, the term “Swiss bank” was synonymous with hiding assets. As the extremely wealthy poured they cash in over the years, much of this money went into a black hole, where the US and European governments did not see, but... More of this article »
Goldman Sachs (NYSE: GS) Entering the ETF Industry
During widespread financial turmoil, investors are often cautious to re-enter the market. They are scared of the risk that comes along with buying a single stock, and often lack the funds to fully diversify themselves. In recent years,... More of this article »
Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) Receive Treasury Support, Disclose Executive Pay Packages
It looks like it is a Merry Christmas and Happy New Year for Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE). Shares of both firms soared at times today, as the Treasury Department announced what basically sounds like a blank check... More of this article »
Investment Banks Look to China for Growth in 2010
As 2009 draws to a close, investment bankers are focused on bonuses, league-table standings, and of course: what will happen next year. Similar to the rest of the economy, the biggest issue on many bankers’ minds is China. While... More of this article »
Bank of America (NYSE: BAC) Taps Internal Candidate for CEO Role
With Ken Lewis set to step down from the CEO role at Bank of America (NYSE: BAC) on Thursday, his replacement is now in sight. Bank of America has appointed an internal successor, senior executive Brian Moynihan as its new chief executive... More of this article »
Citigroup (NYSE: C), SunTrust (NYSE: STI) Look Towards 2010, Cost Cutting In Mind
As 2009 comes to a close, analysts are looking ahead to 2010, and trying to decipher what to expect. Banking, which in recent years became a symbol of free spending, seems to have reigned that in. Nearly every major public bank has... More of this article »
Citigroup (NYSE: C) Has Officially Repaid TARP
Today, Citigroup Inc. (NYSE: C) repaid $20 billion in TARP funds it received during the financial crisis, as promised in recent weeks. Last week Citigroup sold common stock to raise the cash it needed to repay the government, and... More of this article »
Wells Fargo (NYSE: WFC) Announces Plans to Repay TARP, All National Banks Have Exited
It’s lonely when you are the last person to leave the party. Earlier today, Citigroup (NYSE: C) announced plans to repay the TARP funds the government gave them last year, to bail out the troubled instituion amidst the credit... More of this article »
Mr. Smith Went to Washington, Will Bankers for Citigroup (NYSE: C), JPMorgan Chase (NYSE: JPM) and Others Follow?
The plan was for President Obama to host the leaders of the nations major national banks at the White House, chastise them about lending, and boost the economy in some way. Although the outcome of today’s discussion will not... More of this article »