Archive for Gary

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What makes some states more popular to specific financial services providers?

The United States of America stands out as the leading economic powerhouse globally; a reputation it has held for several centuries now. The assumptions most people often have; especially those who have lived in the US, is that the whole of the US is equally developed with citizens having equal access to quality service delivery […]
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Bank of America (NYSE:BAC) and JPMorgan (NYSE:JPM) Leading Candidates for Underwriting General Motors’ IPO

With as much as $300 million in underwriting fees at stake, one of the largest paydays many years for investment bankers, Bank of America (NYSE:BAC) and JPMorgan (NYSE:JPM) are reportedly among the leading candidates to land the underwriting job for the initial public offering of General Motors. Citing one person with knowledge of the matter, […]
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Citigroup (NYSE:C) Adds Metals Analyst Heath Jansen

Shoring up their mining and metals segment, Citigroup (NYSE:C) has hired Heath Jansen to manage the European metals and mining research unit of the bank, along with two others for their London office, who will also focus on the overall metals market and companies within it. Hired for London were Tom O’Hara from Metal Bulletin […]
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Wells Fargo (NYSE:WFC), Bank of America (NYSE:BAC), JPMorgan (NYSE:JPM) Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) Slammed After Spain’s Debt Dowgraded

The Dow has given up its gains for the week, and financial stocks like Wells Fargo (NYSE:WFC), Bank of America (NYSE:BAC), JPMorgan (NYSE:JPM) Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) are all down on the downgrade of Spain’s debt by Fitch Ratings from its prior AAA rating to AA+. Spain had had a […]
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Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) Swaps Rise as U.S. Corporate Credit Risk Surges

Credit swaps for Citigroup (NYSE:C) and Goldman Sachs (NYSE:GS) rose in May, with swaps for Goldman increasing 3.9 basis points to 170.8 basis points, and Citigroup swaps grew 2.7 basis points to 173.4 basis points. Buyers of credit swaps are paid the face value of the instrument if a borrower doesn’t pay what they owe, […]
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Analyst Says Goldman Sachs (NYSE:GS) Could Pay $621 Million to Settle SEC Fraud Suit

Sanford C. Bernstein & Co. analyst Brad Hintz said in a note to clients today that Goldman Sachs (NYSE:GS) could pay $621 million to make the SEC fraud charges against them go away. Hintz said the fine would be $250 million, and the other $371 million would be to reimburse investors in the trades. Personally, […]
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Is Citigroup (NYSE:C) Better Than a $4 Stock?

Even though Citigroup (NYSE:C) and others with vested interest in them would like to believe they’re better than a $4 stock, I don’t think at this time that is the case, and in the short term it is doubtful they’ll have much support beyond that. We could and probably will see them make occasionally upward […]
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Bill Ackman Acquires Citigroup 150 Million Citigroup (NYSE:C) Shares

Bill Ackman is a well-known activist investor, and manages Pershing Square Capital Management, a large hedge fund, announced yesterday at a conference that he has acquired about 150 million shares of Citigroup (NYSE:C) over the last several weeks. Citigroup is an ideal stock for speculators, traders and hedge funds, as the inherent volatility in the […]
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Citigroup (NYSE:C), Bank of America (NYSE:BAC), Deutsche Bank (NYSE:DB) Worst at Removing Debt Off Books

A report from the Wall Street Journal states that based on data gathered from the Federal Reserve, Citigroup (NYSE:C), Bank of America (NYSE:BAC) and Deutsche Bank (NYSE:DB) are the worst offenders for removing debt from their books just before they report their quarterly earnings. Citigroup and the Federal Reserve had no comment on the story, […]
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Citigroup (NYSE:C) Bullish on Emerging Markets

Several Citigroup (NYSE:C) executives stated recently they’re very bullish on emerging markets, and valuations should be attractive based on a variety of factors related to growth. David Ratliff, MD & Head-Investor Sales (AsiaPac), said, using India as an example, that “the debate in India is whether the economy grows at 7-8% or 5-6% which is […]
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Citigroup (NYSE:C) Settles Cemetery Case for $1.5 Million

Citigroup (NYSE:C) agreed to pay $1.5 million to settle the case where they were accused of not properly supervising employees who were under suspicion over mishandling trust fund of cemeteries located in Tennessee and Michigan, by the Financial Industry Regulatory Authority, which oversees brokerages. According to the Financial Industry Regulatory Authority, Citigroup “failed to reasonably […]
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Citigroup (NYSE:C), Bank of America (NYSE:BAC) Up Six Times by 2015 Says Dick Bove

Rochdale Securities analyst Dick Bove has been giving bank stocks a lot of love lately, and among the largest banks, he sees Citigroup (NYSE:C) and Bank of America (NYSE:BAC) exploding by six times what they are today by 2015. In a Tuesday report, Bove said he sees Citigroup increasing in share price of $24.75 by […]
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Citigroup (NYSE:C), Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM) and Morgan Stanley (NYSE:MS) Being Forced to Lend to Failing ShoreBank?

Another political scandal is brewing in connection to the outrageous and controversial bailout of Chicago’s ShoreBank by Citigroup (NYSE:C), Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM), Morgan Stanley (NYSE:MS) and GE Capital (NYSE:GE), where it’s thought so-called community bank with strong political connections, all the way up to Obama, is receiving bailout funds […]
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Is Goldman Sachs (NYSE:GS) Too Optimistic for Citigroup (NYSEC), J.P. Morgan (NYSE:JPM) and Bank of America (NYSE:BAC)?

Goldman Sachs (NYSE:GS) upgraded Citigroup (NYSEC) from “neutral” to “buy,” while maintaining buy ratings on J.P. Morgan Chase (NYSE:JPM) and Bank of America (NYSE:BAC). In light of the current economic conditions, which are deteriorating in Europe and China, it does generate the question of whether the assessment of Goldman is far too optimistic. Much of […]
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Citigroup (NYSE:C): Perfect Storm for Double-dip Recession

Citigroup (NYSE:C) Michael Hart stated what everyone is thinking, and that is we’re approaching a perfect storm which could bring about a ‘double-dip’ recession. Hart said, “The eurozone sovereign crisis, a worldwide regulatory crackdown, fears of an economic slowdown in emerging markets and the possibility of a ‘double-dip’ provide the makings of a perfect storm.” […]
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JP Morgan (NYSE:JPM), Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) Could Get Crushed by New Derivative Regulations

If the proposed new government regulations on derivatives remains in the financial reform bill passed on Thursday, large financial institutions like JP Morgan (NYSE:JPM), Goldman (NYSE:GS), and Morgan Stanley (NYSE:MS) could have earnings demolished by up to 20 percent, according to the banks. Assuming that’s close to being accurate, it’s going to be extremely challenging […]
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Is SEC Fraud Case Against Goldman Sachs (NYSE:GS) Just a Shakedown? $1 Billion Settlement Just a Rumor

News has been spreading that Goldman Sachs is close to reaching a $1 billion, or possibly higher, settlement with the SEC. That’s a total rumor, based on some people reading far more into a statement by Goldman CEO Lloyd Blankfein, when he said in an interview with the Economic Times concerning transactions the company made, […]
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Wells Fargo (NYSE:WFC) Warrants Sell For $849 Million

The U.S. Treasury is out trying to shore up its image today, as it attempted to make it look like it was saving a huge amount of money by selling their stakes in Citigroup (NYSE:C) and other companies they bailed out (even though it was based on data from March 31), while also announcing the […]
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Citigroup (NYSE:C) Performance Really Slashing Cost of Bailout?

It seems the announcement by the Treasury Department today that says the amount taxpayers will lose from the outrageous bailouts is far less that originally estimated, with Citigroup (NYSE:C), and other recipients of the funds, improving in share price and value, which will eliminate much of the costs, according to the government agency. Along with […]
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Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM), Morgan Stanley (NYSE:MS) Could Get Crushed if Forced to Spin Off Swaps Desks

Now that the vote to close off debate on the huge financial regulation bill has passed by 60-40, voting on the bill will come very soon, and that raises concerns from banks like Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM) and Morgan Stanley (NYSE:MS) on whether or not the inclusion of the provision […]
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Citigroup (NYSE:C) Credit Default Swaps Continue to Rise in Basis Points and Cost

With investors increasingly concerned over the outstanding debt in the secondary market, they are now demanding higher risk premiums, which is costing Citigroup a lot more money for its credit default swaps. A credit default swap will pay the one buying it face value if a borrower defaults on the debt. They receive the cash […]
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Citigroup (NYSE:C), Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), Bank of America (NYSE:BAC), Getting Crushed Under the Weight of Reality

The EU sovereign debt issue will remain on the table for some time with major financial institutions like Citigroup (NYSE:C),  Goldman Sachs (NYSE:GS),  Morgan Stanley (NYSE:MS) and Bank of America (NYSE:BAC),  are getting hit hard today, as a number of factors have come together to shake investor confidence in the economy and the banking sector in […]
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Blood in the Streets for Citigroup (NYSE:C), Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC) and JPMorgan (NYSE:JPM)

As the European sovereign debt crisis continues to unfold, it is increasingly obvious from the width and depth of the irresponsibility of all involved, that banks like  Citigroup (NYSE:C), Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC) and JPMorgan (NYSE:JPM), which are getting hammered today, will suffer from the shoring up of the socialist, progressive, welfare […]
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Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM) Awarded Build America Bonds by Pennsylvania

Bank of America (NYSE:BAC) and JPMorgan Chase (NYSE:JPM) are the recipients of Build America Bonds offered by the state of Pennsylvania, generating $1 billion for the commonwealth. The Bank of America part of the bonds are what is called ‘true interest cost,’ which was valued at $548.9 million. JPMorgan Chase received the tax-exempt part of […]
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Citigroup (NYSE:C), Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), J.P. Morgan (NYSE:JPM), Morgan Stanley (NTSE:MS) All Up on Senate Banking Vote

With almost all the major banks like Citigroup (NYSE:C), Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), J.P. Morgan (NYSE:JPM) and Morgan Stanley (NTSE:MS) having their share prices rise in anticipation of the test vote from the Senate, which would effectively close debate on the bill, it shows how the market is viewing the issue. The […]
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